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Message from Cyprus' crisis: Bank accounts are not safe - Wealth Management

March 18,2013

Have at least some of your capital in gold outside of banking system, says Golden Truth blogger Dave Kranzler

Message from Cyprus' crisis: Bank accounts are not safe - Wealth Management

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As a result of this situation in Cyprus, there's now fear that depositors all over southern Europe will take their money out of banks out of fear of this type of deal becoming a model for the next round of sovereign bailouts in general. ...

The Cyprus situation may in fact ignite a run on the banks in Europe and -- for those paying attention in this country (which isn't very many) -- a small run in this country. Myself and others have been advising people to keep only a minimal amount of cash in the banking system for quite some time. The reason? Even though great pains have been taken by DC/Wall Street to ensure us that "the water is fine" in the banking system, the world is one unforeseen "small" event away from a global liquidity crisis. Quite frankly, anyone who can read and think, and who still trusts the banking system in this country, is either incredibly naive or tragically stupid, especially after Eric Holder's wonderful Senate testimony two weeks ago about the big banks being too big to prosecute for crimes.

Why is any of this relevant to gold/silver? Again, for those who are paying attention and understand how corrupt and fragile the global fiat-based banking system is, the best alternative is -- and has been for the last 12 years -- to move as much money OUT of the banking system as possible in INTO physical gold and silver that is privately secured outside of the banking system. Don't think for one second that bank deposit confiscation and bank holidays are limited to obscure Grecian islands in the middle of the Mediterranean Sea. This could indeed to be the spark that ignites the global flood of printed napalm paper currencies.

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