Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
Is Natural Gas Price Ready For An April Rally? - 8th Apr 20
Market Predictions And The Business Implications - 8th Apr 20
When Will UK Coronavirus Crisis Imrpove - Infections and Deaths Trend Trajectory Analysis - 8th Apr 20
BBC Newsnight Focuses on Tory Leadership Whilst Boris Johnson Fights for his Life! - 8th Apr 20
The Big Short Guides us to What is Next for the Stock Market - 8th Apr 20
USD Index Sheds Light on the Upcoming Gold Move - 8th Apr 20
The Post CoronaVirus New Normal - 8th Apr 20
US Coronavirus Trend Trajectory Forecast Current State - 7th Apr 20
Boris Johnson Fighting for his Life In Intensive Care - UK Coronavirus Crisis - 7th Apr 20
Precious Metals Are About To Reset Like In 2008 – Gold Bugs, Buckle Up! - 7th Apr 20
Crude Oil's 2020 Crash: See What Helped (Some) Traders Pivot Just in Time - 7th Apr 20
Was the Fed Just Nationalized? - 7th Apr 20
Gold & Silver Mines Closed as Physical Silver Becomes “Most Undervalued Asset” - 7th Apr 20
US Coronavirus Blacktop Politics - 7th Apr 20
Coronavirus is America's "Pearl Harbour" Moment, There Will be a Reckoning With China - 6th Apr 20
Coronavirus Crisis Exposes Consequences of Fed Policy: Americans Have No Savings - 6th Apr 20
The Stock Market Is Not a Magic Money Machine - 6th Apr 20
Gold Stocks Crash, V-Bounce! - 6th Apr 20
How Can Writing Business Essay Help You In Business Analytics Skills - 6th Apr 20
PAYPAL WARNING - Your Stimulus Funds Are at Risk of Being Frozen for 6 Months! - 5th Apr 20
Stocks Hanging By the Fingernails? - 5th Apr 20
US Federal Budget Deficits: To $30 Trillion and Beyond - 5th Apr 20
The Lucrative Profitability Of A Move To Negative Interest Rates - Pandemic Edition - 5th Apr 20
Visa Denials: How to avoid it and what to do if your Visa is denied? - 5th Apr 20 - Uday Tank
WARNING PAYPAL Making a Grab for US $1200 Stimulus Payments - 4th Apr 20
US COVID-19 Death Toll Higher Than China’s Now. Will Gold Rally? - 4th Apr 20
Concerned That Asia Could Blow A Hole In Future Economic Recovery - 4th Apr 20
Bracing for Europe’s Coronavirus Contractionand Debt Crisis - 4th Apr 20
Stocks: When Grass Looks Greener on the Other Side of the ... Pond - 3rd Apr 20
How the C-Factor Could Decimate 2020 Global Gold and Silver Production - 3rd Apr 20
US Between Scylla and Charybdis Covid-19 - 3rd Apr 20
Covid19 What's Your Risk of Death Analysis by Age, Gender, Comorbidities and BMI - 3rd Apr 20
US Coronavirus Infections & Deaths Trend Trajectory - How Bad Will it Get? - 2nd Apr 20
Silver Looks Bearish Short to Medium Term - 2nd Apr 20
Mickey Fulp: 'Never Let a Good Crisis Go to Waste' - 2nd Apr 20
Stock Market Selloff Structure Explained – Fibonacci On Deck - 2nd Apr 20
COVID-19 FINANCIAL LOCKDOWN: Can PAYPAL Be Trusted to Handle US $1200 Stimulus Payments? - 2nd Apr 20
Day in the Life of Coronavirus LOCKDOWN - Sheffield, UK - 2nd Apr 20
UK Coronavirus Infections and Deaths Trend Trajectory - Deviation Against Forecast - 1st Apr 20
Huge Unemployment Is Coming. Will It Push Gold Prices Up? - 1st Apr 20
Gold Powerful 2008 Lessons That Apply Today - 1st Apr 20
US Coronavirus Infections and Deaths Projections Trend Forecast - Video - 1st Apr 20
From Global Virus Acceleration to Global Debt Explosion - 1st Apr 20
UK Supermarkets Coronavirus Panic Buying Before Lock Down - Tesco Empty Shelves - 1st Apr 20
Gold From a Failed Breakout to a Failed Breakdown - 1st Apr 20
P FOR PANDEMIC - 1st Apr 20
The Past Stock Market Week Was More Important Than You May Understand - 31st Mar 20
Coronavirus - No, You Do Not Hear the Fat Lady Warming Up - 31st Mar 20
Life, Religions, Business, Globalization & Information Technology In The Post-Corona Pandemics Age - 31st Mar 20
Three Charts Every Stock Market Trader and Investor Must See - 31st Mar 20
Coronavirus Stocks Bear Market Trend Forecast - Video - 31st Mar 20
Coronavirus Dow Stocks Bear Market Into End April 2020 Trend Forecast - 31st Mar 20
Is it better to have a loan or credit card debt when applying for a mortgage? - 31st Mar 20

Market Oracle FREE Newsletter

Coronavirus-stocks-bear-market-2020-analysis

Italian Bank Panic & Bail-In - The Next Domino To Fall

Stock-Markets / Credit Crisis 2016 Jan 27, 2016 - 02:24 PM GMT

By: Jeff_Berwick

Stock-Markets

On January 1st of this year the European Union passed into law an official “bank bail-in” clause.  The bail-in legislation put into law, across Europe, what was done in Cyprus in 2013 where bank account holders had their funds seized to “save” the bank.  To us, and anyone who is paying half-attention, this was a clarion call to get your funds out of European banks.


Not only was it clear that the European Union knew what was coming but it was also clear, again to anyone paying attention, that what happened in Cyprus would happen throughout the European Union.

In fact, I have said this numerous times, including last July in this interview in which I explained clearly what was going to occur, and probably sooner rather than later.

Jeff Berwick On The Financial Repression Authority – The Shemitah And Keynesian Insanity … Government debt in most countries has become so high that minor increases in the interest rate would lead to immediate default …  

“What is happening in Greece right now is just the beginning. It will eventually happen in other eurozone countries like Spain, Portugal, Italy, France and in countries all around the world, including the US.”

As predicted, the Italian government recently moved toward bail-ins with the rescue of Banca Etruria.  A pensioner near Rome wrote a note criticizing the transaction and then hung himself.  The pensioner killed himself after losing €100,000.

Italian Prime Minister Matteo Renzi sent his condolences, which I am sure was well-received by the pensioners family <sarcasm>, but defended the rescue, saying the US$7 billion program had to take place to save jobs. But about 130,000 customers lost money. It wasn’t exactly a bail-in but that’s probably next on the agenda.

In addition to Banca Etruria, others were left with little or nothing at Cassa di Risparmio di Ferrara, Banca delle Marche and CariChieti.

How is it that so many people are so asleep that they never see these things coming until its too late?  Clearly they are not Dollar Vigilante readers or subscribers who understand full-fledged bail-ins are on the agenda throughout Europe.

Last week, headlines broadcast the news about renewed Italian bank runs. The share price of Banca Monte dei Paschi di Siena SpA has fallen some 50%.  And the Italian stock market has now fallen 25% since the Shemitah collapse that happened worldwide in late August.

Of course, that’s just the beginning. No doubt Italy’s instability will spread.  Monday, bank stocks resumed their slide, but Italian Prime Minister Matteo Renzi had soothing words in the face of the crisis saying that the banking sector was “much more robust” than thought.

When has a politician ever been wrong in their assessment of things like this <double sarcasm>?

Italy’s endless recession has generated non-performing loans  in the area of US$546 billion, which amounts to 20 percent of all Italian loans.

As a result, Italian banks won’t make loans to businesses – the ones that have survived the recession. The latest idea to  emerge is to set up a “bad bank,” that would take bad bank loans while leaving behind the good.

That’s just re-arranging the deck chairs on the Titanic, however.  An accounting trick to make things look good while the whole thing rots from the inside.

We know what they are planning: No less than a total overhaul of the world’s financial system using the disintegration of the current bank system as a justification for radical change.

We’ve been telling subscribers what was (and now is) going to happen for years and many of them are already safely outside of the financial system, shorting the stock market (for fantastical gains) and many hold their assets in precious metals (which rose again today), bitcoin and other hard assets.

In this interview, just released, I spoke with Gus Demos about their precious metals backed debit/ATM card.  We told subscribers about it, and others like it, months ago.

It is an excellent way to keep your funds outside of the banking system but still have access to the funds like you would with a regular bank account.  You can get one here, for example.

Gus Demos will be just one of many speakers at our upcoming TDV Internationalization and Investment Summit to be held on February 18th in Acapulco, Mexico… a day before the world’s largest anarcho-capitalist conference, Anarchapulco.  Attending our summit and getting information and advice from people who know what is happening and how to protect yourself, could be the best thing you do this year, or any year.

Bank bail-ins are coming to a country and bank near you.  Are you going to wait until your bank is closed and the funds seized, like most people, before taking action?  Don’t wait until it is too late, like nearly everyone else.

Subscribe to The Dollar Vigilante before our rates go up on February 1st to make sure you know what’s coming before it does and get actionable advice and information on how to not only protect your assets but profit from the coming collapse.

Anarcho-Capitalist.  Libertarian.  Freedom fighter against mankind’s two biggest enemies, the State and the Central Banks.  Jeff Berwick is the founder of The Dollar Vigilante, CEO of TDV Media & Services and host of the popular video podcast, Anarchast.  Jeff is a prominent speaker at many of the world’s freedom, investment and gold conferences as well as regularly in the media.

© 2015 Copyright Jeff Berwick - All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Jeff Berwick Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules