Reading time: 1,494 words, 5 pages, 3 ½ to 5 minutes.
Few things in life are as certain as
3) The ass media never tells you what’s important
Read the following news bulletins and see if they report WHO or WHAT is being bailed out.
Cyprus, Troika reportedly reach bailout deal; euro rises vs. dollar
SYDNEY (MarketWatch) — “Cyprus and its institutional lenders have reached a bailout deal, according to reports citing European Union officials. As part of the agreement the country will impose a 40% haircut on Bank of Cyprus depositors holding more than 100,000 euros ($129,760) in their accounts …”
“Cyprus and eurozone have reached an agreement on a bailout plan aimed at staving off collapse of the nation’s banks.
“The island nation needs to find a way to raise nearly €6 billion to satisfy the conditions of a €10 billion EU rescue or face meltdown when banks reopen Tuesday after a 10-day hiatus.”
EU ministers approve Cyprus bailout deal
“EU ministers have approved a deal that Cyprus reached with international bailout negotiators last night, paving the way for the closure of the island’s second-largest bank and forcing big losses on large depositors in the country’s biggest lender.”
E.U. Ministers Agree on Bailout Package for Cyprus
“European Union leaders agreed on a bailout package intended to keep Cyprus in the euro zone and rebuild its devastated economy.
“The deal, struck after hours of meetings, was approved by the finance ministers from the euro zone, the 17 countries that use the common currency. It would drastically prune the size of Cyprus’s oversized banking sector and scrap the highly controversial idea of a tax on bank deposits, although it would still require forced losses for depositors and bondholders.”
Cyprus agrees €10bn bailout deal
“Cyprus reached an eleventh-hour €10bn bailout deal with international lenders on Monday morning that avoids a controversial levy on bank accounts but will force large losses on big deposits in the island’s two largest lenders.
“The deal will allow the European Central Bank to keep its emergency lifeline open to Cypriot banks on Monday, preventing a meltdown of the financial sector that threatened the country’s euro membership.”
Traders cheer Cyprus deal
“Financials lead relief rally after Cyprus strikes a deal with international lenders, allowing a €10bn bailout to go ahead.”
U.S. stocks open higher as 11th-hour deal averts collapse in Cyprus
NEW YORK (MarketWatch) — “U.S. stocks opened higher on Monday, with the S&P 500 index making another run at a record high, after an accord was reached to avert financial collapse in Cyprus.”
That’s great cheerleading, but the ass media never tell you what’s important. What’s important is what the ass media do NOT tell you. Here is what they DO say in the above news briefs:
“Cyprus and its institutional lenders have reached a bailout deal”
“EU ministers have approved a deal that Cyprus reached with international bailout negotiators”
“European Union leaders agreed on a bailout package intended to keep Cyprus in the euro zone”
“Cyprus reached an eleventh-hour €10bn bailout deal with international lenders”
“allowing a €10bn bailout to go ahead”
“an accord was reached to avert financial collapse in Cyprus.”
What the ass media do NOT tell you is that it’s a BANK bailout. It is NOT a bailout of Cyprus the country nor is it a bailout of the Cypriot government. Previously, it was a Greek bailout but it wasn’t the country of Greece that was bailed out nor was it the Greek government; it was a bank bailout. Before that, it was a bailout of U.S. banks. The only exceptions were Chrysler, GM and AIG. The carmakers were in hock mostly to the banks, and the insurance behemoth AIG is essentially a financial institution.
The so-called Cyprus bailout is a bailout of the BANKSTERS. The only news outlet that came anywhere close to the truth is CNN when they say, “bailout plan aimed at staving off collapse of the nation’s banks” and even there they do it in an indirect way.
Why is this important? Because the banksters OWN YOU and the ass media won’t tell you that. The politicians are in the bankster’s pockets. The ass media are beholden to the banksters. Your government is controlled by the banksters. Government regulators either worked for the banksters in the past or they will work for them in the future and most likely both in this “revolving door” granting of reciprocated privileges.
If you have a mortgage or a bank loan or credit card debt or owe the banks anything at all, they own you. You are either their debt slave or enslaved by their money.
Even if you are debt-free, as long as you use money, they control your life. Central banks create our currency by trading IOU’s (bonds) with the Treasury Department. Money is “created” when a bank makes loan. In our “fractional reserve” banking system, most of the loan is re-deposited back into the banking system where it is available for new loans and more money creation.
The purchasing power of the money you earn is constantly being eroded by inflation. The interest you earn with your savings is virtually zero.
The banksters “borrow” money from the central banks at close to zero percent then loan it out at higher interest rates and pocket the difference as profit. They make a profit on free money. You pay for this in several ways. The interest you DON’T earn goes to the banksters. And, the money you do earn is drained away by the inflation caused by this endless bankster money creation.
In today’s world, we are all controlled by the banks. It’s only a matter of degree. You cannot free yourself entirely but there are things you can you can do to reduce your enslavement.
As I’m not an accredited financial adviser, I cannot tell you what to do but I can tell you what I’m doing.
– Reduce debt.
– Get out of debt..
– Get out of mutual funds especially money market funds.
– Get out of bonds before the bond bubble burst.s
– If I had wealth, I’d off-shore it to safer countries – and that’s plural, don’t put all the eggs in one basket – live in one country and bank in several others.
– Keep as little money in the banks as possible to prevent the government from stealing it.
– Put some money into “things” like gold, silver and stuff I need in the future.
– Put the rest of my money into myself, training, education, survival and useful skills as well as helping family, friends, loved ones and you, the reader.
– Use time wisely. I blog in my spare time. It takes about one hour of research, writing, editing and posting for every reading minute or two. In other words, a post that takes 10 minutes to read takes me about 5 to 10 hours to create. I hope it’s time well spent.
– If I lived in a high risk country (U.S.A. for now, the rest later) cash out private pensions take the tax hit and do the above before the government (banksters) take it.
– Direct registration or certificated equities and bonds if I had a lot wealth in them as per Jim Sinclair.
– Smaller amounts in equities (stocks) keep receipts, statements, acknowledgements or take screen prints as proof of ownership.
Everyone is breathing a sigh of relief that Cyprus is “saved” and catastrophe has been averted. Don’t believe it.
– Cyprus showed us that the global financial crisis has not been solved since it began in 2008.
– Cyprus showed us the crisis is getting worse.
– Cyprus showed us the extent the banksters’ stooge governments will go to protect themselves by robbing their own citizens.
– That they tried to do it in broad daylight demonstrates how desperate and brazen they are becoming.
– And, they’ve set a precedent as Business Insider says, ” never before in the history of this global financial crisis has a major banking system allowed depositors to lose money”.
– Cyprus also showed us that bailing out has reached the end of its rope or as Business insider says, “it has become politically difficult (impossible?) for leaders in Germany and other rich European countries to bail out their brethren in the ‘periphery’…”
– This is also the first time since the collapse of Lehman Brothers that bank lenders (bondholders) have taken a haircut.
– Many commentators including Ukip leader Nigel Farage are telling people to get their money out of Europe or at least southern Europe. This will only hurt Europe’s economy and further weaken it’s shaky banking system.
Cyprus is another milestone on the road to perdition. It’s a long and winding road with complete collapse at the end. The only thing we don’t know is when. But, it’s coming.
Are you prepared?
March 25, 2013
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