by Trader Rog

The European Union is rapidly becoming the European Dis-union.

Global depositors and savers consider moving cash for security.

Unlike the more difficult-to-exit bonds and certain kinds of pension and stock retirement plans, pure savings accounts in banks and savings and loans can be removed with the push of a digital button. Accounts can be closed and money wired, as well as using various other methods for cash relocation from suspect depositories. People’s saved money that could be in banks, savings and loans, credit unions, or in trading accounts, might land in one of several choice locations throughout the world.

The European Union is rapidly becoming the European dis-union after an ill conceived move to steal Cypriot bank savings accounts. Calling this theft a tax was thinly veiled and transparent.  Folks in the street are the intended theft targets of the European Central Bankers offering to trade toxic, crappy, valueless, fiat paper for the genuine, hard earned, after tax cash of depositors.

“A bank run is something to be feared. Should sheer panic ensue frightening depositors, they can immediately instigate a run on a bank sending (airborne savings) to another far-flung destination. Depending upon how fast it can be stopped, a hard bank run could wipe out and destroy a banks’ capital base making the institution insolvent in just hours or days.

“A bank run (also known as a run on the bank) occurs in a fractional reserve banking system when a large number of customers withdraw their deposits from a financial institution at the same time and either demand cash or transfer those funds into government bonds or precious metals or a safer institution because they believe that the financial institution is, or might become, insolvent. As a bank run progresses, it generates its own momentum, in a kind of self-fulfilling prophecy (or positive feedback loop) – as more people withdraw their deposits, the likelihood of default increases, thus triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy.

“A banking panic or bank panic is a financial crisis that occurs when many banks suffer runs at the same time, as people suddenly try to convert their threatened deposits into cash or try to get out of their domestic banking system altogether.

“A systemic banking crisis is one where all or almost all of the banking capital in a country is wiped out. The resulting chain of bankruptcies can cause a long economic recession (depression) as domestic businesses and consumers are starved of capital as the domestic banking system shuts down. Much of the Great Depression‘s economic damage was caused directly by bank runs. The cost of cleaning up a systemic banking crisis can be huge, with fiscal costs averaging 13% of GDP and economic output losses averaging 20% of GDP for important crises (similar to 1970 to 2007).

“Several techniques have been used to try to prevent or mitigate the effects of bank runs. They have included government bailouts of banks, supervision and regulation of commercial banks, the organization of central banks that act as a lender of last resort, the protection of deposit insurance systems such as the U.S. Federal Deposit Insurance Corporation, and after a run has started, a temporary suspension of withdrawals. These techniques do not always work: for example, even with deposit insurance, depositors may still be motivated by beliefs they may lack immediate access to deposits during a bank reorganization.”  -Wikipedia

Trader Tracks Newsletter previously reported details of current Cyprus Crisis.

Our report stated that the IMF-ECB folks made a very serious and fatal error. They demanded a Cyprus saver’s haircut in some cases stealing up to 10% of all accounts.

This was deemed to be reasonable in their view as penitence for being connected to the ECB-IMF-FEDERAL RESERVE CABAL. The FORCE, as we refer to the ECB, intends upon ruling the entire economic world with one currency (Euro) and taking political control of all nations installing one world government via the United Nations. The UN has an army belonging nowhere but is everywhere and is the third world party enforcement economic hit squad for world controllers.

Their tentacles are everywhere through a various amalgamation of phony institutions, councils, committees and clubs. Watch a UN council meeting and you will see a collection of USA haters supported by American taxpayers’ money. If you look closely, in our view, they must think every day is Halloween based upon strange clothing and unique institutional mannerisms and methods.

If a major nation/state/government such as the USA cannot control its people with new legislation and rules, behind-the-scenes players defer their game to the U.N. where a straw vote is taken and passed, installing impenetrable legislation nasties into global law.

One such typical UN idea floated by some enthusiast, was to use a new UN law demanding global gun control rules and laws. This was not received very well in America; to put it mildly. This idea to disarm the USA folks would be tantamount to permitting some strange looking non-USA person to impose new gun rules on US citizens. This ain’t gonna happen. If in fact by some modern indoor miracle the idea became a law, Americans would just choose to ignore it.

We would strongly encourage the United States to eliminate any and all support of the UN and its suspect activities. Perhaps the locals could donate the UN building in New York City to Donald Trump who would immediately turn this prominent structure into useful condominiums for New York’s citizens. Obviously, the money would then be better spent on something of value.

Robert Watts, Deputy Political Editor, The Telegraph on March 23, 2013, reported the U.K. Independence Party leader, Nigel Farage urged British expatriates in Spain, of which there are an estimated 750,000 British people, to pull their money out of the country’s (Spain) banks.

The UK Independence Party leader said that the European Union had “crossed a line”   by trying to extract funds from savers under the terms of the abandoned Cypriot bailout. Mr. Farage said: “Even I didn’t think that they would stoop to actually stealing money from people’s bank accounts.

“There is going to be a big flight of money and that flight of money won’t just be from Cyprus, it will be from the other Euro-zone countries, too. There are 750,000 British people who own properties, or who live (many of them in retirement) down in Spain. “Now that we see the EU are (is) prepared to resort to anything to keep alive their failing Euro project, our advice to expats living down in the Mediterranean must be, ‘Get your money out of there while you’ve still got a chance’.”

The second major mistake made by the ECB-IMF-Federal Reserve was demanding a drop-dead date of March 25, 2013, in effect giving the Cyprus government four days to comply or be declared insolvent pushing them out of the Euro Currency and Euro-land. 

It is our considered opinion that these clowns, in a demonic flash of brilliance, have  not only shot themselves in their criminal collective feet but have doomed any positive resurrection of any economy on the continent. Now, we expect the financial powers in “The City” to read the handwriting on their Euro-land wall of pain, and move out over $650 billion a day in trading derivatives and other species of trading to Germany.

Should this happen, and we reported weeks ago that was this in fact in the cards and under serious consideration by other non-U.K trading players, those that would  exit London could be key to the very survival of London’s economy.

Included in the exit would be financial houses, trading platform owners, their memberships and several varieties of funds holding and trading billions of Dollars and Euros. That event would be tantamount to a wholesale deletion of all Wall Street trading in New York City and moving it to another country. This could literally ruin the economic stability of London, which already is quite strained and in very big trouble.

You cannot un-ring a bell or re-stuff the appearance

“Pandora’s Box is an artifact in Greek mythology, taken from the myth of Pandora’s creation in Hesiod‘s Works and Days. The ‘box’ was actually a large jar given to Pandora) (‘all-gifted’, ‘all-giving’), which contained all the evils of the world. Today, the phrase ‘to open Pandora’s box’ means to perform an action that may seem small or innocuous, but that turns out to have severe and far-reaching consequences.”–Wikipedia

Severe and far-reaching consequences indeed. Now these greedy morons are trying to backtrack and reinvent their nefarious methods to strip savings from Cyprus savers. The Russians are watching carefully and offering no more help then the $2.5 billion Euro loan they offered in 2011. If the ECB steals from the Russians in Cyprus this would end very badly.

If those cretins at the ECB think they are going to steal from Russian citizens  we would suggest they will have nowhere to run and nowhere to hide.

In relation to this whole mess, we noticed Madame Christine LeGarde’s (Queen of the IMF) Paris apartment was raided regarding a 20-year-old minor beef and Benny Bernanke suddenly stated “no Federal reserve chairman is guaranteed a lifetime job” so to speak. Was this related to the Cyprus foul up by the ECB? We suggest this idea is strong food for thought.

Pandora’s Box is now wide open and what has escaped cannot be erased. Our heartiest congratulatons to the ECB-IMF-Federal Reserve for your absolutely stunning blunders. We wish for a rather propitious and rapid reorganization of these organizations favoring US Constituional rules for the entire world. Such a reversal would eliminate entirely the ECB-IMF-Federal Reserve.

We say what goes around comes around and baby, she is a comin’ with a vengeance!

Our take says the markets’ breakdown hits in a vicious smash between September 16, 2013 and October 25, 2013 with a Dow loss of -38% to -50% from the year’s high price.

Physical gold and silver owners with handheld possession win big.

It is obvious to us that hard assets are the answer. It all starts with physical gold and silver.

Somebody please tell us when global bond markets crash for good and we’ll tell you when this can all get better and we start over again, maybe with a gold-backed currency.– Trader Rog,

Roger Wiegand

Roger Wiegand is the writer of Trader Tracks Newsletter for gold, silver and energy traders. Roger provides recommendations for short and long-term traditional stock shares and futures and commodities trading with specifics for individual trades.

Contact Amberleigh at wavelengthpublishing@gmail.com for a free week sample of Trader Rog’s insights and predictions via his exciting new daily audio subscription. Find more information at www.letustrade.net.

Roger also is a regular contributor to The Korelin Economics Report (www.kereport.com) the highest rated daily Internet radio program listened to throughout the world, dealing with politics and hard assets. He is also a regular guest on the Weekend Edition of The Korelin Economics Report, which airs on radio stations across the USA on Saturdays and Sundays.

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