Topic: Are Bail-ins possible in Europe? (Read 2932 times)

Here you have a brand new article about the latest developements with Germany's gold (Title: Monkey Business):

http://blog.milesfranklin.com/

Well... why not :-), there have beem crezier stuff happening than this, and i belive it totally makes sence, its creative, efective and covert, i belive satoshi isnt even one person but rather a team.

dont forget the briliant move that (i belive) kissinger done when gold was unplugged from dollar, he managed to peg it to oil... how genial, all deals for obtaining oil had to be dealed/payed in dollars from then. And now, when dollar is failing.. here comes bitcoin...

Maybe I'm naive, but Schiff is no opportunist, he always goes against establishment and stays true to his principles. His dad is in jail for refusing to pay tax (not evasion, just outright rufusion). I believe he just doesn't get BTC and is badly informed, like many commentators out there.

The gold thing makes sense to me just as we wrote in the last posts, that's what I believe. There is no outrage because the media is a propaganda machine and people are sheep and have enough to worry about in their day-to-day lifes. Goebbels would be proud of the fine propaganda machine the Western media are at the moment.

Those BTC theories sound pretty wild to me, I have no reason to believe that. Satoshi being some government agent? I don't know...

+1 for bail-ins and wealth taxes being more "likely" than "possible". I'd say it's almost a certainty. The only real question is "when". I'd hazard a guess that we'll see them sometime before the end of 2017.

Well i belive Schiff understand BTC but he just has to interve for BTC because je is invested in it.

Well yeah, the germany situation with gold is really weird, the only explanation for is that they really dont have it there anymore, even physically not (because they would show it without any objection... since they didnt even show it to germans (i think they showed them only FEw (1-5)? Bars... :-D!? Is it even possible, and why isnt there any outrage because of this...?

The other reason might be, that USA has the gold, but doesnt want to give it back to their respected owners, and USA is betting on  the fact, that in the years ahead, there will some situation in which they simply refuse to give it back (under some pretex).

BTW whats your take on BTC... i have a little conspiracy of mine... I really belive that BTC was made by some USA agency (NSA, CIA etc.).
The reasons might be 2:

1) Counterback china, as the USD is dying, and china will want to conquer the world via their currency, usa comes with special new "undercover" currency- bitcoin.... to fight with the spreading yuan... That might also explain, why are the chinesse so bearish (bad) on bitcoin lately...

2) I belive that bitcoin might have been created also to supress the price of gold of similiar ways of protecting wealth... (well yeah... gold and silver mainly)... Because with all that money printing i think they might be worried that their current supression methods might not be so effective anymore... so they came out with a different method... make some other "place" that people might use to invest, instead of gold... Because lets face it... Bitcoin might be cool, but something physical like gold, is and always be sometinh physical... So they might have created something to "divert" attention of investors (savers) from gold, to bitcoin... and if they want, the might crash the bitcoin price with minimum effort (jsut bann the merchants from accepting it, and its finished)...

What do you think about this 2 little conspiracies about bitcoin?

That number is all over the internet, I have read it from a ton of different people really, that's why I have no doubt about it anymore. I have also sometimes read 100 times and remember having read 50 times somewhere. I never saw somebody denying this.

It's one of several reasons precious metals should skyrocket at some point. When that is, is impossible to say though.

They don't have it physically anymore, I believe so too. In case of most countries (Finland, Sweden, etc..), they have the bigger part of their gold not physically stored at home, but in London or New York vaults. This is because it's easier to roll some gold from one vault to the next in London (or maybe even just transfer it via accounting) than it would be to fly it from Stockholm to Madrid or whatever in case they lease or sell. So when they lease it, the gold is not physically relocated. It's not under their control anymore and its leased and re-leased.

That makes it a little easier to lose the overview...

I believe there is relatively little gold left in the west. It's all going towards Asia...

PS: Peter Schiff is a master in regards to PMs. He just needs to figure out BTC, ha ha...

Im in my 20-ties...

Someone will always predict imminent collapse--- Yeah thats the point, not only that the "public" government lie and manipulate but the alternative news sector je lieing also, thats sad :-).

I watched that clips... loved it, it was quite and eye opener for me, love the ones with peter schiff how were all other mocking him, that the economy is OK, and then it a month it went KO :-), loved that. I just wished the news and reporting (of the "alternative" media were more honest, more correct and less fear morgering.

Hey Mikcik, curious as to how old you are?

The economy did collapse in '08 and it has not much recovered unless you're in a minority segment of the economy (you likely are).

Someone will always predict imminent collapse. It sells news, and also the paranoids among us just push the clock two minutes forward. But people wrongly predicting does not mean a thing will not happen.

What you should also do is go back to 2007-2008 and watch CNBC clips and FBusiness news of the experts predicting how perfectly fine everything was and would continue to be. There are two sides to that coin.

Nobody knows. All we can do is take calculated risks.

But the world will not end even if the economy evaporates altogether, that is a part of it. People adapt, you look around and see everything okay, I compare it to c. 2000 and it is all not okay. It is disintegrating slowly and there are huge problems at the periphery. But this was also true in 1937. It's all relative... and yes bail-ins will happen the next time there is a major banking crisis, rest assured of that. I don't see that as imminent, but long term inevitable.

Where did you get that 70 number?

Well leased out is one thing, not being present at USA is another thing, i almost belive they dont even have the gold there physicaly (or its been replaced by tungsten), they didnt even allow germans to SEE the gold... i really belive there is no, or only a little gold.

where did you got the 70 number please?

You are kicking in open doors there, I'm the first one to believe that there is hardly any gold left in the central banks. Germany will only get back a small part of their gold till 2020. Finland and sweden were the most recent ones to admit that their gold is leased out.

All gone and every ounce sold 70 times in paper claims...

Bailins come when QE ZIRP and taxes is not enough.

Yeah i have heard that about gold and silver, i know about that.

BTW one reason the US hasnt defaulted yet might be also the fact that they have sold their gold to chinesse maybe, because i really dont belive they have a lot of gold, if youdont belive, than look at the german gov. who will be getting their gold back slowly in the next 6 years.

Also it is probably good to point out that both scenarios can happen, and they might happen even simultaneously, but i think they wouldnt risk the rage from public.
Because, the bailins, saves save the banks, but the wealth tax saves government, those are two separate subjects...?

Any party that wants to end the Euro in its current form is good enough for me... 

If there's REAL alternative of course we MUST support it but until then I'm out of this democracy charade.

BR

P.S.: I'm not saying AfD is not a valid alternative, I don't know them. Just be cautious, I've seen a lot of alternatives... of the same.

In case of your scenario, they don't even have the FUNDS to pay back all the accounts below 100k, even if they wanted to. It's a total and complete illusion to say you are save below 100k in any case. I'm not saying it WILL happen, I'm just saying it's an absolute realistic possibility.

Bonus question: Why would you keep your money at the bank at the moment? For the interrest? On a bank account, you have high risk with negative real return at the moment - which is the opposite of what people think you have: High security for a good positive return.

There is not the slightest reason to keep your money at the bank at the moment.

Posting-marathon is over, I guess the topic just got me all worked up, ha ha...!

+1 for most of the post: Exactly!

-1 for "stop voting" - not cool! There are parties who know what's up and want to end that failed Euro-experiment (I only mean the currency). "Alternative für Deutschland" in Germany, for example. Vote somebody alternative who comes close to your view.

Good post, I agree!

That's one of the reasons I'm so bullish for BTC - in a scenario like that people will be going crazy for it, no matter if they are restricted to a certain extent or not...!

How is that not confiscation or robbery? While according to official law it's not, law is not always the same thing as being morally right.

Did Hitler rob the Jews of their possessions? I would definitely say he did, but legally he was right, because he had prepared the law accordingly...

If the truth is harsh and people are sleeping, maybe you can wake them up by telling them the truth.

I don't think it would work that way. Maybe they give people some more time.

Anyways, I think that tax is more difficult to do and further away than bail-ins (for which the laws are basically in place already).

It's a good thing you know zerohedge and you are asking questions. Ultimately, you have to come to your own conclusions.

I have been spending several hours almost every day over the last 8 months to put the pieces of the puzzle together, and this is my conclusion. This is what makes sense to me, despite almost everybody in the "real world" telling me the opposite thing.

It should have happened already, but two good reasons why it hasn't: 1. The TIMING of the whole thing is impossible, don't even try to time it. 2. Desperate governments keep on finding unexpected ways to kick the can down the road one more time (QE...).

Read Andy Hoffmans posts on the Miles Franklin Blog, think about it, google if you don't understand something. He really goes into details and I learned a lot from him (his views on BTC are stupid though...).

Oh, and one more thing: Gold is an incredibly manipulated asset, that's a fact, not opinion. On a free market, its price would probably be at 3.000$ - 6.000$ right now.