Tag Archives: collapse

Peter Schiff Warns Yellen’s Nomination Means Any QE Taper Expectations Are “Delusional”

By Peter Schiff via EuroPac.net | On October 9th, 2013

Janet Yellen

Now that Janet Yellen has been named to lead the Federal Reserve the global financial markets should factor out any possibility that the Fed will diminish their Quantitative easing program anytime during her tenure. In fact, financial forecasts should assume that not only is a taper off the table, but that the QE program is now more likely to be perpetuated and expanded.

Unlike her predecessors, Janet Yellen has never had a youthful dalliance with hawkish monetary ideas. Before taking charge of the Fed both Alan Greenspan, and to a lesser extent Ben Bernanke, had advocated for the benefits of a strong currency and low inflation and had warned of the dangers of overly accommodative policy and unnecessary stimulus. (Both largely abandoned these ideals once they took the reins of power, but their urge to stimulate may have been restrained by a vestigial bias against the excesses of Keynesianism). Janet Yellen, who has been on the liberal/dovish end of the monetary spectrum for her entire professional career, has no such baggage. As a result, we can expect her to never waver in her belief that stimulus is the answer to every economic question.

The Federal Reserve was originally charged with the single mandate of maintaining price stability. In recent decades that mission evolved into a dual mandate of seeking price stability and full employment. I believe that a Yellen led Fed will return once again to a single mandate, but now it will focus only on employment. Based on her clear beliefs in the ability of dovish monetary policy to relive human suffering she will be inclined to dig in her heels into the ongoing QE program more than anyone else President Obama may have appointed. This is terrible news for the U.S. dollar and the U.S. economy.

For now at least the crisis in Washington has squelched any immediate discussion of a taper in the remaining months of 2013. Any predictions that a Yellen-led Fed will somehow show more resolve towards responsibility in 2014 or 2015 should be looked at as delusional.

Peter David Schiff (born March 23, 1963) is an American businessman, investment broker, author and financial commentator. Schiff is CEO and chief global strategist[1] of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut, CEO of Euro Pacific Precious Metals, LLC, a gold and silver dealer based in New York City, and CEO of Euro Pacific Bank Ltd., a full service bank based in St. Vincent and the Grenadines.

Schiff has appeared as a guest on financial television shows and been quoted in major print publications. He is host of The Peter Schiff Show, an audio show broadcast on terrestrial and internet radio[5] and was formerly host of an internet podcast called Wall Street Unspun now archived as podcasts. In 2010, Schiff ran in the Republican primary for the United States Senate seat in Connecticut, but lost to Linda McMahon.

Schiff is known for his bearish views on the US economy and US dollar, and his bullish views on commodities, foreign stocks and foreign currencies. Schiff also voices strong support for the Austrian School of economic thought, first introduced to him by his father.

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.

Preview: Expatriates by James Wesley, Rawles

Front cover

Front cover

Coming October, 1st, 2013!

“In the latest survivalist thriller from founder of survivalblog.com and New York Times bestselling author James Wesley, Rawles, two expat families struggle for their very survival in the midst of a global economic collapse.”

“When the United States suffers a major socioeconomic collapse, a power vacuum sweeps the globe. A newly radicalized Islamic government rises to power in Indonesia, invades the Philippines, East Timor, Papua New Guinea, and finally northern Australia. No longer protected by American military interests, Australia must repel an invasion alone.

In the thick of these political maneuvers, an American family of missionaries living in the Philippines and a Texan petroleum engineer in Australia must face the fear of being strangers in a world in flux. Are their relatives back home healthy and safe? Will they ever see them again?

In its depiction of the authentic survivalist skills and techniques needed to survive a global socioeconomic meltdown, Expatriates is as informative as it is suspense-filled.”

About the Author:

JAMES WESLEY, RAWLES is a former U.S. Army intelligence officer and survivalist, and a well-known survival lecturer and author. Rawles is the editor of SurvivalBlog.com—the nation’s most popular blog on family preparedness. He lives in an undisclosed location west of the Rockies and is the author of the bestselling Founders: A Novel of the Coming Collapse, Survivors: A Novel of the Coming Collapse, Patriots: A Novel of Survival in the Coming Collapse, and a nonfiction survival guide, How to Survive the End of the World as We Know It.

Book Details:

  • Hardcover: 336 pages
  • Publisher: Dutton Adult (October 1, 2013)
  • Language: English
  • ISBN-10: 0525953906
  • ISBN-13: 978-0525953906
  • Product Dimensions: 8.9 x 5.9 x 1.2 inches

Special thanks to Dutton Publishing for supplying us with a preview/review sample!

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.

The Decline Of Western Civilization Will Be Televised

Over the weekend I was watching the Boston police illegally enter homes and force innocent families out onto the street at gunpoint, all in the name of finding one 19 year old Muslim radical. There’s no use iterating how I feel about the events I saw, since unfortunately it seems very few people outside of the Prepper and Patriot communities seem to care about the sad state of our country anyway. For many, as long as Honey Boo Boo is being piped into the living room idiot box uninterrupted, most people are comfortably content with the decline of Western society.

But, over the weekend, Bostonians got a taste of what less than 50% of us voted for.  For those not in the know regarding current US politics, what we saw play out was actually the “hope and change” the President has been so excited to show us. I feel a great sadness for those families affected by the illegal activities of the Boston Police, knowing that a good number of the families affected were suddenly faced with the realization that the country they thought they lived in is actually nothing more than a romantic memory, a decrepit shade of its former self. That my friends is the honest truth.

I encourage anyone living in a city here in the US to move to rural surroundings, before this all gets exponentially worse.

Go America.

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.

Warning: Exit The System… Or Else

I have stumbled upon this warning within the comments sections of a number of top news stories today. I’m not sure exactly who is responsible for posting this warning all around the internet, but it is an interesting write-up nonetheless. It took me a short while, but I finally did trace the source of the text to its online origin. Here it is, directly from the author himself… -Ed.

By Jim Sinclair | From Jim Sinclair’s MindSet | On Saturday, April 6th, 2013

Dear CIGAs,

You must now act to exit the system

Bail-in
(excerpt)

The US has already put in place bail-in-like powers as part of the Dodd-Frank financial reform act passed last year. The law includes a resolution scheme that gives regulators the ability to impose losses on bondholders while ensuring the critical parts of the bank can keep running.

Employees would be paid, the lights would stay on and derivatives contracts would not have to be instantly unwound.

Click here to read the full definition…

I have given my all to communicating the most important conclusions concerning your future financially and therefore on every level of life.

1. The operation to depress the gold price since the high was limited in time and is now behind us in terms of maximum pain for the bulls.

2. You must exit the system immediately because the Financial Nazis struck in Cyprus and now are moving directly towards you. This is simple fact, which if you ignore will be akin to the rise of the Nazis in Germany for those that knew they should, but never made the decision to leave that system.

The saddest fact is that many of you have thrown away your gold share and bullion insurances to the enriched Bankster bullies. You will now pay no attention to the need to exit the system. It is as if you are moths attracted to the flame of danger, and a sloth in that you are too lazy to take the actions required to protect yourselves. If you do not pay attention to this interview you are going to sacrifice all you have worked to accomplish in your lives. Most certainly those that are planning any form of retirement are right now dancing on the head of a needle.

Here are a few most important actions you, in my opinion, must take.

Government sponsored retirement tax preferential retirement programs must realize that one of the IMF plans in Cyprus was to nationalize all retirement programs. That means steal your retirement funds and assets, replacing them with some form of future paper assuming Cyprus returns to solvency.

You must, in my opinion, face whatever tax consequences there are and close your retirement programs. You are in clear and present danger of confiscation for questionable paper of whatever you hold in these type accounts. In a financial sense you are exactly what the ghettos in Germany and Poland were when they knew they should run but found any excuse possible not to do what was logically screaming at them to take action.

I am screaming at you from every pulpit I can find, with no personal benefit that you must take various actions and take them now. The fact the IMF, a major international body, had the audacity to demand that Cyprus nationalize all it pensioners and confiscate large percentages of the account values should be like a flashbulb going off in your eye to wake you from your sheeple slumber.

Bite the bullet.
Pay the tax.
Get your assets back.
Get out of the system.

The next action you must take is to get as far away from social media, and the use of credit cards for everything because you are painting a picture for the tax collectors that are going to go ballistic in their effort to collect your money from you in order to create revenue for governments going broke, or who are already hiding the fact they are broke.

It might take some effort, but stop your kids from informing the world of everything you and they have done on their social media. Computer based comparisons of family income to family activities will spur punitive audits when the apparent expenses are greater than the combined declared income.

The revenues services of every country are cranking up their computer search programs to grab information. You must stop so freely providing information, and maybe bragging on social media to make others think your lives are better than they really are. You must turn off the switch on your children use of social media if they are still under your authority. You must suggest to your emancipated children that they are foolish in informing the world of every little thing that do in search of 1000 friends on social media that would not really give a damn if they had a problem.

As an example of the new high tech snoops you are feeding with your credit cards and social media, research the following article.

IRS High-Tech Tools Track Your Digital Footprints – Yahoo! Finance

– Charting and analyzing social media such as Facebook
– Targeting audits by matching tax filings to social media or electronic payments
– Tracking individual Internet addresses and emailing patterns
– Sorting data in 32,000 categories of metadata and 1 million unique “attributes”
– Machine learning across “neural” networks
– Statistical and agent-based modeling
– Relationship analysis based on Social Security numbers and other personal identifiers

Click here to read the full article…

You must eliminate to the greatest degree possible all the agents between you and your assets.

There is no question that leaving assets in street name with your brokers and bankers is a financial death wish. The preferred way of holding shares of stocks has always been in your own name as physical certificates. The second best method, but much better than street name, is to hold your shares in Direct Registration. Do not expect your banks, brokers or companies you are invested in to make it easy to get out of their system. They will fight you all the way, but you have to insist on your rights regardless of their refusal or false dire warning of negative circumstances when you succeed in demanding your rights. Most of it exaggerations of what is really minutia when it comes to protecting yourselves.

Large credit balances in the form of banking accounts in CDs or in pure cash is now holding up a red blanket for the fighting confection bull of governments seeking your assets to hold off their financial collapse from their own spending sins of decades.

We can discuss in open forum, face to face or in writing later what to do with your assets but right now, as Braveheart cried, they must have FREEDOM from the system. There is much more that needs to be done, but what you have here is what should be called first priority. This should be viewed as call to action. I have not been too much off the mark on calling the developments not only of the past 12 years, but for the entirety of my successful career of more than 50 years in finance.

You ignore me at your own severe personal risk.

Source: http://www.jsmineset.com/2013/04/06/you-must-act-now/

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.

So Much For Conspiracy Theories…

Biden: The ‘affirmative task’ before us is to ‘create a new world order’…

Vice President Joe Biden calls for the creation of a “new world order” at the Export Import Bank conference in Washington on April 5, 2013.

Video captured and uploaded by Nicholas Ballasy.

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.

Stockton, CA, You’re Bankrupt!

By Diana Marcum | From LATimes.com | On Monday, April 1, 2013

Stockton bankruptcy can move forward, judge rules

Stockton bankruptcy

A pedestrian walks by a Stockton Record newspaper rack. (Justin Sullivan / Getty Images / June 27, 2012)

STOCKTON — A federal judge ruled Monday that Stockton is eligible for bankruptcy protection, over the objection of creditors who argued the city could come up with more money.

U.S. Bankruptcy Judge Christopher Klein said Stockton can move forward with a plan to reorganize debt. He twice stated that the creditors had acted in bad faith and had refused to pay their share of the costs for negotiations.

“The creditors got a big black eye today,” said Karol Denniston, an attorney who helped draft the legislation that guided Stockton’s mandated mediation before filing for bankruptcy protection. “Now the stage is set for the real dogfight.”

In late June, Stockton became the nation’s largest city to fail financially. At that time, all eyes were on the port city of 300,000 as experts warned the action could set off a string of similar filings among cash-strapped municipalities. Since then, a half-dozen cities have filed for Chapter 9 protection under the U.S. Bankruptcy Code, including the city of San Bernardino.

During the 90-day mediation period, Stockton’s creditors refused to negotiate unless the city cut payments to the state pension plan, CalPERS.

By law, the negotiations were confidential, but that detail emerged during the three-day trial that concluded last week.

Klein said the creditors could not legally walk away from the table, but he left the door open for CalPERS obligations to be part of negotiations in the coming phases of the bankruptcy.

At issue will be whether U.S. bankruptcy law trumps California law, which says the pension plan must be funded.

The $900 million Stockton owes to the California Public Employees Retirement System to cover pensions is its biggest debt -– as is the case with many cities in California.

Stockton slashed its police and fire departments, halted bond payments, cut employee benefits and adopted an emergency spending plan that cut many city services. But the city continues to pay into the state pension.

Stockton’s bankruptcy is expected to be closely watched for precedent, and could be appealed as high as the U.S. Supreme Court.


Source: http://www.latimes.com/local/lanow/la-me-ln-stockton-bankrupt-20130401,0,7979388.story

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.

Cyprus Banks Remain Closed To Avert Run On Deposits

By Michele Kambas and Karolina Tagaris | From Reuter.com | On Monday, March 25th, 2013

Anti-Troika protesters hold a "Hands off Cyprus" banner during a demonstration outside the EU offices in Nicosia March 24, 2013. REUTERS/Yannis Behrakis

Anti-Troika protesters hold a "Hands off Cyprus" banner during a demonstration outside the EU offices in Nicosia March 24, 2013. REUTERS/Yannis Behrakis

(Reuters) – The president of Cyprus assured his people a bailout deal he struck with the European Union was in their best interests, but banks will remain closed until Thursday – and even then subject to capital controls to prevent a run on deposits.

Returned from fraught negotiations in Brussels, President Nicos Anastasiades said late on Monday the 10-billion euro ($13 billion) rescue plan agreed there in the early hours of the morning was “painful” but essential to avoid economic meltdown.

He agreed to close down the second-largest bank, Cyprus Popular, and inflict heavy losses on big depositors, many of them Russian, after Cyprus’s outsize financial sector ran into trouble when its investments in neighboring Greece went sour.

European leaders said a chaotic national bankruptcy that might have forced Cyprus from the euro and upset Europe’s economy was averted – though investors in other European banks are alarmed by the precedent of losses for depositors in Cyprus.

“The agreement we reached is difficult but, under the circumstances, the best that we could achieve,” Anastasiades said in a televised address to the nation on Monday evening.

“We leave behind the uncertainty and anxiety that we all lived through over the last few months and we look forward now to the future with optimism,” he told compatriots who face an immediate, deep recession and years of hardship unlikely to be milder than those experienced by Irish, Greeks and Portuguese.

Many Cypriots say they felt anything but reassured by the bailout deal, however, and are expected to besiege banks as soon as they reopen after a shutdown that began over a week ago.

Reversing a previous decision to start reopening at least some banks on Tuesday, the central bank said late on Monday that they would all now stay shut until Thursday to ensure the “smooth functioning of the whole banking system”.

Little is known about the restrictions on transactions that Anastasiades said the central bank would impose, but he told Cypriots: “I want to assure you that this will be a very temporary measure that will gradually be relaxed.”

Capital controls, preventing people moving funds out of the country, are at odds with the European Union’s ideals of a common market but the government may fear an ebb tide of panic that would cause even more disruption to the local economy.

Without an agreement by the end of Monday, Cyprus had faced certain banking collapse and risked becoming the first country to be pushed out of the European single currency – a fate that Germany and other northern creditors seemed willing to inflict on a nation that accounts for just a tiny fraction of the euro economy and whose banks they felt had overreached themselves.

Backed by euro zone finance ministers, the plan will wind down the largely state-owned Cyprus Popular Bank, known as Laiki, and shift deposits under 100,000 euros to the Bank of Cyprus to create a “good bank”, leaving problems behind in, effectively, a “bad bank”.

Deposits above 100,000 euros in both banks, which are not guaranteed by the state under EU law, will be frozen and used to resolve Laiki’s debts and recapitalize the Bank of Cyprus, the island’s biggest, through a deposit/equity conversion.

PRECEDENT SET

The raid on uninsured Laiki depositors is expected to raise 4.2 billion euros of the 5.8 billion euros the EU and IMF had told Cyprus to raise as a contribution to the bailout, Dutch Finance Minister Jeroen Dijsselbloem said.

Cyprus government spokesman Christos Stylianides said losses for uninsured depositors would be “under or around 30 percent”.

Laiki will effectively be shuttered, with thousands of job losses. Officials said senior bondholders in Laiki would be wiped out and those in Bank of Cyprus would have to make a contribution – setting a precedent for the euro zone.

Comments by Dijsselbloem on the need for lenders to banks to accept the potential risks of their failure had a knock-on effect in the euro zone, raising the cost of insuring holdings of bonds issued by other banks, notably in Italy and Spain.

Global equity markets and the euro retreated on his comment that the Cyprus bailout could be a template for solving other problems, by shifting more risk to depositors and stakeholders:

“What we’ve done last night is what I call pushing back the risks,” Dijsselbloem, who heads the Eurogroup of euro zone finance ministers, told Reuters and the Financial Times.

A first attempt at a deal 10 days ago had collapsed when the Cypriot parliament rejected a proposed levy on all deposits, large and small. That proposal outraged ordinary Cypriots, leading to queues at bank cash machines.

The central bank has imposed a 100-euro daily limit on withdrawals from ATMs at the two biggest banks to avert a run.

PUBLIC SCEPTICAL

Russia signaled it would back the bailout even though it would impose big losses on Russian depositors, who by some estimates may hold a third of all deposits in Cypriot banks.

President Vladimir Putin ordered officials to restructure a loan Moscow granted to Cyprus in 2011 – having rejected Nicosia’s request for easier terms in crisis talks last week.

Among Cypriots sipping coffee in warm sunshine, there was a mood of wariness about the deal: “How long will it last?” asked Georgia Xenophontos, 23, a hotel receptionist in Nicosia.

“Why should anyone believe anything this government says?”

In the morning, a public holiday, residents of the capital lined the streets to watch a parade by soldiers and students to mark Greek Independence Day, waving the Greek and Cypriot flags.

“On this day I’m proud to be Greek, but at the same time I feel humiliated,” said Marios Charalambous, 56, a print-shop owner. “I’m worried what will happen when the banks reopen.”

Cyprus’ tottering banks held 68 billion euros in deposits, including 38 billion in accounts of more than 100,000 euros – enormous sums for an nation of 860,000 people that could never sustain such a big financial system on its own.

The U.S. Treasury, noting the importance to the United States of financial stability in Europe, its largest trading partner, said it was now up to Cypriots to rebuild their economy: “It is critical to lay the foundation for a return to financial stability and growth in Cyprus,” the Treasury said.

(Additional reporting by Luke Baker, John O’Donnell, Robin Emmott, Philip Blenkinsop and Rex Merrifield in Brussels, Costas Pitas in Nicosia and Lionel Laurent in Paris; Writing by Giles Elgood and Matt Robinson; Editing by Alastair Macdonald)

Source: http://www.reuters.com/article/2013/03/25/us-cyprus-parliament-idUSBRE92G03I20130325

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.

Citizens Of Cyprus: This Bailout Is Gonna Cost You…

Cyprus Works On Last-Minute Deal To Soften Bank Levy

By Michele Kambas |From Reuters.com | On Sunday, March 17th, 2013

(Reuters) – Cyprus was working on a last-minute proposal to soften the impact on smaller savers of a bank deposit levy after a parliamentary vote on the measure central to a bailout was postponed until Monday, a government source said.

In a radical departure from previous aid packages, euro zone finance ministers want Cyprus savers to forfeit a portion of their deposits in return for a 10 billion euro ($13 billion) bailout for the island, which has been financially crippled by its exposure to neighboring Greece.

The decision, announced on Saturday morning, stunned Cypriots and caused a run on cash points, most of which were depleted within hours. Electronic transfers were stopped.

The originally proposed levies on deposits are 9.9 percent for those exceeding 100,000 euros and 6.7 percent on anything below that.

The Cypriot government on Sunday discussed with lenders the possibility of changing the levy to 3.0 percent for deposits below 100,000 euros, and to 12.5 percent for above that sum, a source close to the consultations told Reuters on condition of anonymity.

The source said the discussions had the “blessing” of a troika of lenders from the European Commission, the IMF and the European Central Bank.

In Brussels, a spokesman for Olli Rehn, the European commissioner in charge of economic affairs, said discussions were still under way in Cyprus.

“If the Cypriot leaders agree on a more progressive scale for the one-off levy, in view of making it fairer for smaller savers and provided this would have the same financial impact, the Commission would be ready to recommend that the Eurogroup endorse such an agreement,” the spokesman said.

The move to take a percentage of deposits, which could raise almost 6 billion euros, must be ratified by parliament, where no party has a majority. If it fails to do so, President Nicos Anastasiades has warned, Cyprus’s two largest banks will collapse.

One bank, the Cyprus Popular Bank, could have its emergency liquidity assistance (ELA) funding from the European Central Bank cut by March 21.

A default in Cyprus could unravel investor confidence in the euro zone, undoing the improvements fostered by the European Central Bank’s promise last year to do whatever it takes to shore up the currency bloc.

A meeting of parliament scheduled for Sunday was postponed for a day to give more time for consultations and broker a deal, political sources said. The levy was scheduled to come into force on Tuesday, after a bank holiday on Monday.

BREAKS A TABOO

Making bank depositors bear some of the costs of a bailout had been taboo in Europe, but euro zone officials said it was the only way to salvage Cyprus’s financial sector.

European officials said it would not set a precedent.

In Spain, one of four other states getting euro zone help and seen as a possible candidate for a sovereign rescue, officials were quick to say Cyprus was a unique case. A Bank of Spain spokesman said there had been no sign of deposit flight.

But the chief of Greece’s main opposition, the anti-bailout Syriza party, Alexis Tsipras, blamed the move on German Chancellor Angela Merkel, according to Greek state news agency ANA.

“We must all together raise a shield to protect the peoples (of Europe) from Ms Merkel’s criminal strategy,” said Tsipras, who wants a pan-European debt conference to forgive debt.

The crisis is unprecedented in the history of the Mediterranean island, which suffered a war and ethnic split in 1974 in which a quarter of its population was internally displaced.

Anastasiades, elected only three weeks ago, said savers will be compensated by shares in banks guaranteed by future natural gas revenues.

Cyprus is expecting the results of an offshore appraisal drilling this year to confirm the island is sitting on vast amounts of natural gas worth billions.

In a televised address to the nation on Sunday, Anastasiades said he had to accept the tax in return for international aid, or else the island would have faced bankruptcy.

“The solution we concluded upon is not what we wanted, but is the least painful under the circumstances,” Anastasiades said.

With a gross domestic product of barely 0.2 percent of the bloc’s overall output, Cyprus applied for financial aid last June, but negotiations were stalled by the complexity of the deal and the reluctance of the island’s previous president to sign.

International Monetary Fund Managing Director Christine Lagarde, who attended the meeting, said she backed the deal and would ask the IMF board in Washington to contribute to the bailout.

RUSSIANS, EUROPEANS

According to a draft copy of legislation, failing to pay up would be a criminal offence liable to three years in jail or a 50,000 euro fine.

Those affected will include rich Russians with deposits in Cyprus and Europeans who have retired to the island, as well as Cypriots themselves.

“I’m furious,” said Chris Drake, a former Middle East correspondent for the BBC who lives in Cyprus. “There were plenty of opportunities to take our money out; we didn’t because we were promised it was a red line which would not be crossed.”

“I’ve lost several thousand,” he told Reuters.

British finance minister George Osborne told the BBC on Sunday that Britain would compensate its 3,500 military personnel based in Cyprus.

Anastasiades’ right-wing Democratic Rally party, with 20 seats in the 56-member parliament, needs the support of other factions for the vote to pass. It was unclear whether even his coalition partners, the Democratic Party, would fully support the levy.

Cyprus’s Communist party AKEL, accused of stalling on a bailout during its tenure in power until the end of February, would vote against the measure. The socialist Edek party called EU demands “absurd”.

“This is unacceptably unfair and we are against it,” said Adonis Yiangou of the Greens Party, the smallest in parliament but a potential swing vote.

Many Cypriots, having contributed to bailouts for Ireland, Portugal and Greece – Greece’s second bailout contributed to a debt restructuring that blew the 4.5 billion euro hole in Cyprus’s banking sector – are aghast at their treatment by Europe.

Cyprus received a “stab in the back” from its EU partners, the daily Phileleftheros said.

But it and another newspapers highlighted the danger of plunging the banking system into further turmoil if lawmakers sat on the fence.

“Even if the final agreement is wrong, if this is not approved by parliament the damage will be even greater,” Politis economics editor Demetris Georgiades said in an editorial.

Source: http://www.reuters.com/article/2013/03/17/us-cyprus-parliament-idUSBRE92G03I20130317

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.

America: On The Brink Of Civil War?

Here’s a video summary of where many of us believe we are headed here in the U.S. as a nation.

Source: YouTube.com

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.

Developing Basic Barter Networks

By Partisan | from GuerrillaAmerica.com | On October 9th, 2012

Rule Number 1: You will live in a barter economy and you must be a producer or offer a valuable service.  Those who own the means of production or who can independently produce a valuable good, who are proficient in their trades, or who can readily prepare and distribute products to market are economic survivors, plain and simple.

Rule Number 2: You must have cash, durable goods, or precious metals to use as currency.  There could be a disruption of the system that doesn’t harm the perceived value of the dollar, which is a great reason to keep some on hand – especially if you can offload them for something you need after a catastrophic event occurs.

Rule Number 3: The width and depth of your “tribal network” will determine the quality of your life above survival. Pre-collapse, you must meet medical providers, those with means of mass transportation (truck drivers, delivery drivers, etc.), others in the “merchant class”, radio operators, local law enforcement, and all your neighbors.  These people are going to facilitate transactions so you can meet your immediate needs.

Rule Number 4: You must have a means of communication aside from land line or cellular phones.  In a grid down situation, cellular towers will not work.  You need a shortwave radio and a citizens band radio, at a very minimum, to keep up-to-date with your environment, external factors, and emergencies. These will allow you to communicate short range with your neighbors and others in your community; and will be a highly effective way to barter or make trade agreements.  Information regarding external factors such as aid or community meetings will be communicated over radio waves.  Finally, if you cannot communicate in an emergency, you or someone you know will become a casualty.  Similarly, your community must set up its own farmers market/trading post.  Supply and demand will make themselves aware here.  Farmers markets aren’t just for goods; they’re also places where you can make yourself available if you provide a service or find someone who provides a service you need.

Rule Number 5: Your community must have a mechanism to enforce basic laws.  Theft, unlawful violence, and the unlawful threat of violence can derail your community’s ability to trade.  If you have goods to trade or you need goods from someone else, those items must arrive safely and on time.  Maybe your local law enforcement will not be affected; but maybe it will – and what then?  If you have no plan to secure yourself and your property then you will not thrive, much less survive.

Source: http://guerrillamerica.com/2012/10/developing-basic-barter-networks/

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About The Author: RSOPerator is the co-founder & Executive Editor of Radical Survivalism Webzine.