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Don't say I didn't warn you.....

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The Austrian School of Economics(Menger, Hayek, Von Mises,etc) is quite clear on this:

Low interest rates stimulates borrowing from banking system system. This expansion of credit causes an expansion of the supply of money, through the money creation process in a fractional reserve banking system.

 

In this way, the government uses this cheap and apparently endless supply of credit to pursue its goals. In the past, it was warfare. In modern times, a burgeoning indebted welfare state. This is the only way the government can spend above and beyond it's revenues. And it is government that is responsible for its existence as well as being a major beneficiary of it (makes our politicians look good).

 

Eventually as the government continues this misallocation of resources, malinvestment arises and a credit bust occurs.

 

So which government will have the will to finally end this sham once and for all?

"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as a result of the voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."

 

What you are witnessing in Cyprus right now is an endemic failure of the fractional reserve banking system which involves every major economic country in the world today. The thread I had on here a year ago spelt out why one should look at owning assets with no counterparty risk. Let me explain, even the R100 banknote in your pocket reflects real debt (counterparty risk) - you just don't know who.

 

Today all the banks are interlinked - they are all based on FIAT money (Search Youtube for more).

 

So when a tiny melanoma spot like the collapse of the Ponzi scheme in Cyprus occurs, the impact is on the whole body - it spreads with devastating speed.

 

We are all part of that body because our financial system is dependent on the fraudulent system known as FIAT money.

 

Watch the moves taken by European governments in the next few weeks to restrict the access of their citizens to their own money tied up in banks through savings accounts etc... this is nothing short of fraud and theft.

 

This reflects a desperate bid to stop a run on banks which, as part of the fractional reserve system, have been looting the people of their assets for generations. The chickens are now coming home to roost.

 

Keep stacking PHYSICAL silver and gold which has NO counterparty risk.

 

Kind regards

 

Scott Balson

Edited by ndoa18

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Just Beachin

Unfortunately, the only semi safe place to keep gold & silver, in this country, is the very banks that will be burned to the ground, during the financial collapes.

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Vegar

There is a partial solution to being robbed by the banks. Bartering.

 

In Cape Town there is quite a large community trading without money - in Talents. The Community Exchange System is world-wide and it is surprising what you can get for your 'talents'.

 

I acquired a lot of talents by offering plants {which I grow from seed and cuttings} - at the monthly market - and by offering therapy sessions half for 'talents' and half cash - still have to pay rent ...

 

For my 'talents' I have gotten clothing (Second hand), jewellery and ornaments but best of all I got an interior decorator to redesign my home at half her normal fee! I had my laptop fixed, had a strong guy remove an old heap of rubble and got a lawn mower (second-hand as well).

 

Check out the website, register, get some 'talents' and start trading in REAL value instead of the monetary system which is bleeding to death.

 

https://www.community-exchange.org/

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Just Beachin

So Cool, I believe in the bartering system!

I am all for smaller Government, for helping those who need it (teaching a man to fish) and aiding and guiding the serious learner which are our future, but not into feeding the government in taking more for their fancy party's, blue light patrols , building monuments, renaming streets and lack of accountability and so on in a cash strapped economy.

Edited by Just Beachin

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Vegar

Right 'Just' ! But ... what does re-naming streets have to do with it :confused: As long as it appears on my GPS ...

 

We name streets after people and things we value. Street names reflect our value system, hence we name them after honorable members of our society and ... our glorious flora and fauna.

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Kit W
Right 'Just' ! But ... what does re-naming streets have to do with it :confused: As long as it appears on my GPS ...

 

We name streets after people and things we value. Street names reflect our value system, hence we name them after honorable members of our society and ... our glorious flora and fauna.[/quote

 

I have to agree with"Just" with his comment concerning the renaming of streets. I have never heard of, lets say for example, BothaSreet being changed to Protea Street. I realize that there must be a certain amount of "value"attached to the renaming of streets but the whole process has cost the tax-payers a lot of money that the country can ill-afford. ALL businesses that operate in the renamed streets also have heavy related costs in changing business details. Not all people have the privilege of a GPS. Please tell me more about this VALUE SYSTEM!! Just my pennies worth. Regards

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Guest Guest

First they took our gold....

 

In the early 1930s the financial system changed irrevocably when the US Government outlawed the private ownership of physical gold.

 

All physical gold had to be handed in to the authorities for $20 per ounce.

 

After the great theft of physical gold was imposed on the people the value of gold was raised to $35 per ounce... nearly double the amount the banks had paid for it.

 

This month in Cyprus a small community has had to face a two week bank holiday (their banks were closed). During this time the puppet masters running the Euro imposed a 40% mark down on the savings of investors who had over 100,000 euro in the country's largest banks.

 

Why?

 

Because the banks were insolvent and needed 10 billion euro to continue trading.

 

How can this be?

 

Simple - FIAT funny money is a Ponsi scheme backed by the DEBT of unknown others. So while the privately owned US Federal Reserve Bank prints US$85 billion every month to keep the investments of the well connected at Wall Street going - "we the people", like in Cyprus, are expendable.

 

In my view there could be no better time to put some of your assets into physical silver or gold which have no counterparty risk.

 

If there is a bank run in Europe in the next week or two as a result of what has happened in Cyprus the contagion will not stop there. You don't have to believe me and no I am not a prophet.... but remember the immortal words of Gordon Gekko that "GREED IS GOOD"... see this link:

 

Kind regards

 

Scott Balson

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RISadler

Scott, whilst your advice is sound, you unfortunately ignore one very important point: nearly everyone on South Africa is so deep in debt that they have zero "assets" that are 100% their own property - even their salaries "belong" to the banks and retailers - for buying silver or gold.

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wayjen

It is BS that the honest man/women in the street gets shafted day in and day out by governments and big business and I include banks in this. Why should the honest Joe Citizen be done in by corrupt banking systems who were only after the money and to please the puppet masters who pull the strings in big business.

 

Bring back the days when you earned interest on your money you put into a savings account in a bank. Today you put in your hard earned money only to owe the bank when you want to withdraw it again.

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RISadler

It's actually funny the way things have an effect on other things ... back in the day of yesteryear all sports were sponsored by the tobacco industry ... then it was banned ... so now the banks are using our (potential) interest-earned just so a bunch of idiots can go on about a ball. But the kicker is ... check up on who owns major stock in the banks ...

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Guest Guest

Watch Cyprus and Greece this weekend... and Europe next week

 

Pity the poor people of Cyprus who, after two weeks of "bank holidays", will be able to get very LIMITED access to the money in their bank accounts when the banks re-open today (Thursday).

 

They are only allowed to draw up to 200 euros of their OWN money per day. That is theft and extortion rebadged as preventing a bank run.

 

Cyprus is now investigating criminal charges against the banks - who have been to big to jail up to now (eg in US and Europe).

 

I fear that what will happen this long easter weekend is an enormous escalation of fear and loathing aginst the European banks - and I would not be surprised to see the run on the banks spreading across Europe next week. I would not be surprised to see civil chaos and looting and burning down of banks in Cyprus this weekend as people say enough is enough; if it spreads to Greece then batten down the hatches.

 

Europe is in a very fragile state BECAUSE OF FIAT MONEY - a system of extortion by the BIG banksters that has failed again and again in the past. In fact FIAT money has NEVER succeeded.

 

If money was based on the gold and silver standard none of this would have happened.

 

If you have a quantity of physical silver and gold in your possession then you can sleep well tonight; however, if your money is in a bank account consider the effects of contagion once Europe implodes. In my view it is safer to have your money in your physical control in a safe in your own home than to have it sitting in a bank account which can be locked at a moment's notice - and that applies to you in South Africa despite the high crime rate.

 

As I said so many times in the thread "On the cusp" it is not a matter of IF but only WHEN the FIAT funny money system implodes....

 

Kind regards

 

Scott Balson

Edited by ndoa18

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wayjen

Why should Joe Citizen live on handouts from soup kitchens when they have money in the bank, I wonder if the rich bankers allowed their errand boys and housemaids and chefs to get food from soup kitchens because they certainly won't be there themselves?

 

This is the time when someone must come along and have a system in place that allows you and I to do something positive WITH OUR MONEY and close banks down.

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Guest Guest

Stooges.. don't be one

 

For many generations now the Rotchschild and Rockefeller families have effectively controlled the world's financial system. If you live in Kimberley go to the Big Hole this weekend and see for yourself how Nathan Rotchschild (in London) gave Cecil Rhodes a blank cheque to meet their global aims... its proclaimed on the banners in the tour after you go through the mine. Nathan gave Rhodes the biggest cheque in history allowing him to buy all other stake holders in the big hole of Kimberley. It's there ... they admit it NOW and that was just the beginning.

 

Here are the photos I took of the banner in 2011 proclaiming this fact while on the Kimberley tour - they are large so give them time to load, you may use them freely:

 

Image One

 

Image Two

 

Quote from Wikipedia: The Rothschild bank funded Cecil Rhodes in the development of the British South Africa Company

 

Source: The Rothschild's of England - Wikipedia.

 

Cecil Rhodes was not some financial genius. He was a very well connected child (like the often quoted Winston Churchill). Rhodes had questionable sexual orientation and severe health problems (he died young) during the Boer war. James Cole (who managed Rhodes' farm in southern Natal before he moved to Kimberley) stole much of his valuable library of books in the 1800s soon after Rhodes moved to Kimberley and was outed years later by a priest visiting his home. Rhodes is not a hero of South African history he was a modern day pawn of the money changers that G-o-d despised.

 

Both Churchill and Rhodes were pawns to the grandchildren of the same banking families currently controlling the world's largest banks, just like the mainstream media are controlled by them today.

 

In their eyes you are NOTHING and never have been. Your democratic rights mean NOTHING. You are a modern slave to THEIR financial system their self-serving belief of their power. Someone here earlier talked about everyone being in "DEBT" to the banks - that is what their aims are.

 

The legal system today is not about JUSTICE it is about MONEY. As a thinking human being you are in debt to no-one, only slaves are - the FIAT monetary system is a complete fraud. Think outside the square and realise that this fraud is why people all over Europe are starting to stir.

 

Know where real assets have been historically stored pre the banksters franchise system of worthless FIAT controlled by their central banks. I think the BRICS countries currently meeting in Durban have realised this and China's move to backing interational trade with physical gold leaves us with a very difficult crossroad.

 

Do you trust the Chinese (the future financial power) to be any better or do you cowtail to the badly compromised and self-serving ethics of the big banking families who continue to destroy millions of people's lives with no conscience? The choice is ours (I guess). Cyprus could well be the pin that broke the camels back on FIAT...

 

I hope so.

 

Kind regards

 

Scott Balson

Edited by ndoa18

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Ron888

Hello,

this is from a German speaking forum:

 

What we are seeing right now in Europe, will be once called one of the greatest forays in European history. You can compare it to the great depression in the United States. You will see striking parallels. my note: probably famine and starvation

 

The banks gamble with money that has been created artificially and does not exist really – this is fraud. And if this gambling is a complete flop, they let the common people pay for it. They (the banks) collect real values for printed promises. This (fiat) money will be nothing worth later. But the banks own your house, your boat and your car.

This is the slavery of today. Debt is a modern form of slavery.

 

Despite South Africa is far away from Europe in geographical terms, it is not in financial terms. All banks worldwide are connected, and owned by the same guys :-) And they have prohibited that any currency is based on real assets like gold and silver. They have even forced the British and Swiss governments to sell their gold at the lows roundabout 10 years ago.

 

Most common people in Europe have already sold their gold coins, silver coins, sterling cutlery, juwellery because they got sooo much money. Nearly all these "gold stores" which are here anywhere are ONLY buying gold, but do not sell gold.

 

I am sure we will see a contagion soon, and FIAT money will lose its value more and more similar to WEIMAR times.

 

Kind Regards

Ron

Edited by Ron888

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wayjen

I am sitting here with the book " THE RISE OF THE HOUSE OF ROTHSCHILD" dated 1928 and the biographical notes tell a tale of who was who in the zoo and what positions the family held in the financial institutions of the day. We have the head of the Frankfurt bank and Vienna Bank and London Bank and Naples bank and Paris bank and so it goes on.

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RISadler

However, the National Credit Act is in direct opposite of this desire of the fin-inst's to create an indebted society - it actually puts the lender at risk of losing all and creates a very simple way of cancelling debt.

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Just Beachin
Right 'Just' ! But ... what does re-naming streets have to do with it :confused: As long as it appears on my GPS ...

 

We name streets after people and things we value. Street names reflect our value system, hence we name them after honorable members of our society and ... our glorious flora and fauna.[/quote

 

 

 

I have to agree with"Just" with his comment concerning the renaming of streets. I have never heard of, lets say for example, BothaSreet being changed to Protea Street. I realize that there must be a certain amount of "value"attached to the renaming of streets but the whole process has cost the tax-payers a lot of money that the country can ill-afford. ALL businesses that operate in the renamed streets also have heavy related costs in changing business details. Not all people have the privilege of a GPS. Please tell me more about this VALUE SYSTEM!! Just my pennies worth. Regards

 

Thanks, I couldn't have put it better myself!

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RISadler

But why gold and silver? It's just an arbitrary metal with perceived value ... break that perception and it becomes worthless.

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Just Beachin
But why gold and silver? It's just an arbitrary metal with perceived value ... break that perception and it becomes worthless.

 

Perhaps, because it's (meaning gold and silver) easier to travel with than Guns and Bullets, and doesn't spoil like watermelons:razz:

Edited by Just Beachin

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RISadler
Perhaps because it's because is easier to travel with than Guns and Bullets, and doesn't spoil like watermelons:razz:

 

The how do you (a) expect to defend your gold from bush-whackers, and (b) why're you buying watermelons if they're gonna spoil on the trip back?

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Just Beachin

Please excuse the grammar in my previous post, and watermelons are not useful for mass weapons of destruction:love:

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Ron888

"My bank account's got robbed by European Commission. Over 700k is lost." ...not SA Rand

 

This happens if you trust your bank....

 

https://bitcointalk.org/index.php?topic=160292.0

 

It is not the European Comission resp. Merkel who robbed the people in Cyprus! It was the elitist bankers. They are worldwide, even in South Africa.

 

This is one of the last signs what the elites are planning. What happend in Cyprus was NO accident. We will see more...

 

Everyone who runs a small business should have only the money at the banks which is really necessary.

Edited by Ron888

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RISadler

Sorry if this sounds skeptical ... but isn't Cyprus some little no-account island in the Mediterranean Sea, with the eastern part of it under Turkish (military) control?

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Ron888

Cyprus is part of the Eurozone since 1st January 2008 and has a population of roundabout one million. You may call it a "little no-account island", but in my view this island is only a test of what we will see soon in all other heavly indebted Western nations.

 

In history the Zuid-Afrikaansche Republiek was a tiny no-account republic for many people in Europe at that time. Despite the Boers lost the war against the British, it was the beginning of the end of the British Empire.

 

I am located in Germany. Reichsgold (gold coins from the German empire) was out of fashion for decades. Now people are eager for these gold coins. Why? Just look back in history: paper money always lost it`s value completely. But gold coins always kept their value. Sometimes more, sometimes less, but they were NEVER worthless.

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Guest Guest

Why Gold and Silver

 

But why gold and silver? It's just an arbitrary metal with perceived value ... break that perception and it becomes worthless.

 

If you had over 100,000 Euro in FIAT money in Cyprus:

 

Quote:

"There will be a 37.5 percent "haircut" on deposits over 100,000 euros that will be converted into shares," Marios Mavrides, a politician from the conservative political party of President Nicos Anastasiades, announced.

"Then 22.5 percent will be held from the account for about two or three months, but this sum might be lower if a bigger haircut is needed."

The remaining 40 percent would be held for six months to prevent the east Mediterranean island's banks being drained.

 

 

Source: Cyprus bank depositors to lose 60%

 

This hair cut could come to a bank near you because of a simple thing called "counterparty risk".

If you had over 100,000 euro in physical gold and silver in your possession in Cyprus...

 

you would still have the full value of your investment and a real alternative asset - there is NO counterparty risk. No bank can steal from your savings when they have no control over it.

 

Physical gold and silver has been money for over 5,000 years while many FIAT funny money systems have come and gone since then - all collapsing. The current FIAT system was born in 1971 when the US went off the gold standard and has lasted just over 40 years - probably the longest any FIAT system has "lasted" - only thanks to all the tricks being pulled by the US Federal Reserve to kick the can of collapse down the road.

 

As someone else noted here when the big Wall Street banks collapse (and they will) so will every other FIAT based bank in the world (that's every bank in South Africa). It's called contagion.

 

It's not a matter of IF, just WHEN.

 

Cheers

 

Scott Balson

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