Economy News for Mon 18 Mar 2013

[Cheryl Nelson]

I'm posting it in the Blogs today because of the "bank tax" situation in Cyprus....

FX Market Opens, EUR Hammered, S&P To Open -30pts
http://www.zerohedge.com/news/2013-03-17/fx-market-opens-eur-hammered-chf-bid-sp-open-30pts

Could The "Cyprus Fiasco" Occur In The U.S.?
http://www.zerohedge.com/news/2013-03-17/could-cyprus-fiasco-occur-united-states

Forced Loans They Can Take Your Money Giving You {Worthless} Government Bonds
http://armstrongeconomics.com/2013/03/16/forced-loans-they-can-take-you-money-giving-govt-bonds/

Sinclair:  One Of The Most Important Events In History & Gold
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/16_Sinclair_-_One_Of_The_Most_Important_Events_In_History_&_Gold.html
(Re Cyprus bank account tax situation, money of which is 80% Russian "black money")

The Young Are Going To Get Screwed-Part 1

http://www.dailyreckoning.com.au/the-young-are-going-to-get-screwed-by-debt-part-one/2013/03/13/

Incredibly Important Developments In Gold And Silver Markets

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/15_Incredibly_Important_Developments_In_Gold_%26_Silver_Markets.html

Former US Treasury Official - US Financial System To Collapse
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/16_Former_US_Treasury_Official_-_US_Financial_System_To_Collapse.html

[Cheryl Nelson]

Not!

[Cheryl Nelson]

Money laundering... by the Russians.  So, ALL depositors have to pay?  Plus, one news source claims that the Russian oligarchs were tipped off and got $2B out before accounts were frozen.

[Cheryl Nelson]

Without the loan, Cyprus is bankrupt and will probably have to leave the EU... however, this unprecedented action has shaken depositor confidence.  This genie will not go back into the bottle any time soon.

[Cheryl Nelson]

Thanks, Rosemary.  I saw that, as well as Russian Oligarch's funneling their money through Cypriot Banks, which may also be a target of IMF.  There's more than meets the eye, it seems.

[Rosemary S]

Here is another link about the gas deposit.

Cyprus Bank Deposit Levy and Natural Gas Bonds

http://wallstreetpit.com/99212-cyprus-bank-deposit-levy-and-natural...

[Rosemary S]

Here is one link about the banking situation

Cyprus votes against bank tax plan

http://www.cbc.ca/news/business/story/2013/03/19/cyprus-bank-deposi...

[Rosemary S]

I am not sure Cheryl if this news came your way? CBC News mentioned the reason why the IMF imposed a tax on savings. It appear that Cyprus sits on a very interesting natural gas deposit. The IMF wanted Russia out of the equation in order to have access to the Cyprus gas. This morning, the Cyprus Government voted on imposing the tax. 39 parliament members voted against the tax and 13 member abstained. Cyprus basically told the IMF to stay up north and invited Russia to invest into the natural gas deposit. Oh!! The web we wive. I will try to find the information on this. Boy this is better then a soap opera on TV

[Cheryl Nelson]

I said on another blog, now's the time if there ever is one...

[Rosemary S]

This looks bad. Might as well collapse the money system and have everything free.