Cyprus Will NOT Happen To The US

The incredible theft and destruction of property rights that occurred in Cyprus today is part of the ever increasing effort and desperation to sustain an unsustainable system that is built on debt.

What happened in Cyprus with the theft of 40% of deposits over 100,000 euros will not happen in the US.

It will be much worse.

Cyprus along with Greece, Ireland, Portugal, Spain and Italy do not print their own currency.  They gave away their sovereign right to the European Central Bank.  As a result they will suffer a deflationary depression as all of the real wealth is sucked out of those nations.  It will come in the form of austerity or out right theft like we saw in Cyprus today.

This will not happen in the US as we print our own currency and the government would not need to rile  the masses and steal from their bank accounts.   They can simply print more money which has the same real effect of destroying the purchasing power of those dollars.  This is why the price of everything is going up as more dollars chase after less goods.  Truth be told it is not the prices that are rising, it is the value of those dollars that are dropping and you need more “worth-less” dollars to by the same amount of goods.

There will ultimately be no real recovery in the economy or employment until the all of the debts of the world are either hyper inflated away or outright defaulted upon.

The solution is to have real assets that would be immune to the inflationary or deflationary forces that are at work in the global economy.

5 comments to Cyprus Will NOT Happen To The US

  • MAtt

    Chris..Firstly I think you are at the cuting edge of current economic events and a conscious manner in which to approach it…so thanks for you work..

    I have a couple of friends now in their mid 60s and I have been trying to convince them about PMs as they lost alot of money in the 08 crash..I still haven’t convinced them and the other day to my surprise they ask me what I think of Bitcoin..Now..my question is (and I have my own concept) WHY THE HELL do people put their faith in illusionary currencies..WHY would one want to go from one ponzi to another and put their faith in something thy don’t hold OR understand? What is so hard to understand that PMs have been and always will be hard currency? I asked them if they would give me ALL their money and they said NO..so I asked why would you give it to someone you don’t know?? We are a truly strange species.!!

    Thanks Chris..

    p.s when do the next coins come out?

    • Silver Shield

      LOL people don’t want to hear about silver and the responsibility that comes with it but another keno game in the casino is very curious to them…

      Walk your own path and be a blessing when they come around.

      Next coins will hopefully commence a week after the Mint opens up at the end of the month.

  • David Richardson

    I think this is a very good perspective/analysis; my complements.

    A locally-based but now very nationally syndicated financial expert [TV & radio] who I will only refer to as Clark, is a very good and very smart person. He made his fortune honestly but is so stuck in the old paradigms. Recently while driving I heard him on the radio. He was assuring his listeners the economy was on its way back up, etc. People hang on his financial advice, but he is phenomenally mired in what worked in the past. He gives good advice like live within your means and get out of debt, but he is giving them investment advice will turn out to be disastrous in the future. I do not think he is a conscious shill for the powers-that-be. I guess my point is even highly intelligent people can be financially wrong, or fail to connect the dots of what is coming.

    Chris is a visionary. I’ll bet he would be the first to say he isn’t always right. Even prophets aren’t always right. What comes with being a person that is a visionary or one who “connects the dots” before others, is a huge responsibility. “Walk your own path and be a blessing when they come around.”

    My 84 year old mother said to me “I know how much you want to help others, but sometimes the only thin you can do is love them and pray for them.” I’ve thought a lot about that statement of wisdom.

  • I agree that those that can simply print more currency such as the states, japan, s.korea, china, the uk etc will do just that.

    A bank run could happen anyway though as that will depend on how quickly capital controls are in place and whether the people believe that what happened in Cyprus could happen to them.

    A ‘Western’ hemisphere bank-run would be a ‘game over, no more credits’ moment.

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