FORCED LOANS (e.g. MF Global / Cyprus) are the last step historically before REVOLUTION

One other way to safeguard your wealth is with Bullion Jewelry

Here is a great source:

[link to goldsilver.com]

Former US Treasury Official - US Financial System To Collapse

Former Assistant of the US Treasury, Dr. Paul Craig Roberts, recently proclaimed JP Morgan now threatens the stability of the entire global financial system. And if the Fed loses control and we collapse, “Nothing and no one would be safe anywhere.”

“I can point out three giant bubbles that threaten the remains of the American economy ... When these bubbles pop, the consequence is obvious: The wipeout of the remaining wealth from bond and stock collapses, and a very strong domestic inflation from the rise in the import prices.”

... It is frightening, and it shows the extent to which the economic policy of the United States is misused in support of four or five big banks that are ‘too big to fail’ ... We now have one bank, JP Morgan, which has derivative exposure equal to the (entire) world’s GDP....

[link to kingworldnews.com]

More on history of this issue:

“Another legal issue that has surfaced concerns the 476 million reichsmarks lent against its will to Germany by the Greek National Bank during the war. If this were to be considered a form of war damage, then in principle it would be subject to reparation — except that according to the 1990 treaty, Germany would not have to pay it. If the money were, however, to be considered a normal credit, then Greece would be entitled to get the money back.

Without interest, the amount in today’s money would amount to $14 billion. With interest at 3% over 66 years, that would come to at least $95 billion. The problem is this: even partial recognition of such a debt would create a precedent that could bring untold claims in its wake.

[link to www.time.com]

Not to be too tough on Greece whose people are not at fault for the screwy derivative deals with GS, nor for the government's agreement to join the euro.

But the prevention of any claim on that debt was part of the deal. It's too late to go back and change the deal. Enough endless claims against Germany. They shouldn't rule Europe, but they shouldn't have to pay endless money to anyone who claims it either.

Our future as well?

Cyprus considered nationalizing pension funds and ordered banks to stay shut till next week to avert financial chaos after it rejected the terms of a European Union bailout and turned to Russia for aid

[link to ca.news.yahoo.com]

Who is next?

National planning Cyprus-style solution for New Zealand:The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts.

[link to www.scoop.co.nz]

It was Philip IV (1285-1314) of France who also needed money desperately and began to attack the Italian merchants operating in France. In 1291, Philip IV arrested all the Italian merchant-bankers and extorted huge fines from them in return for a right to do any business in France. The French seizure of Italian bankers led the Pope to recall a significant portion of the papal tax revenues that were on deposit with the leading Italian Merchant bankers – the Riccardi. This clearly placed the Riccardi in a downward trend from which they did not recover. Then Philip IV seized the Papacy to steal all their funds and moved it from Rome to Avignon. He did not stop there, but then installed his French Pope drone and seized the Knights Templar stealing everyone’s money they held in safe-keeping. Certainly, this trend toward arbitrary seizure was set in motion during the 13th century and wiped out most the banking system for nearly 100 years.

Last Edited by No Dhimmi on 03/21/2013 01:42 PM

The earliest Public Debt post-Dark Age was that of Venice, which engaged in forced loans to the state dating back to 1187
when they began to prepare for the destruction Zara (Zadar).

Even Florence adopted this practice of compelling people to
buy notes\ lend money to the state known as FORCED LOANS.

This compulsory obligation to buy the state debt contributed also to the fall of Florence.

The sovereign defaults eventually
wiped out the Medici as well.

DEBT IS DESTROYING EVERYTHING

What do we learn from the past 2000 years?

The track record of lending to government is anything BUT one of trust, quality, and good for the people.

In every case, politicians have proven they are simply incapable of doing the right thing and they always seek to borrow today from the future revenues they expect to extract from the people tomorrow.

The decline and fall of many governments have taken place throughout the ages both in ancient times as well as modern.
Indeed, there has been no exception.

Decline is not like a landing Boeing 747 but rather a waterfall type of event

You wake up in a morning and the economy is gone.

So Europe has a long and significant history of doing this same thing. Very interesting history, thanks ND.

. . . look at Egypt as all investment collapses because once there is no rule of law, nothing has value! This is why people just walked away from property causing the abandonment of major cities. That not only impacted Rome, but many of the Mayan cities were abandoned with no sign of fire, war, or some natural event. They just left. This is why the corruption in New York is so dangerous. The handling of M.F. Global was an international disgrace. The repeal of Glass-Steagal was outrageous. Letting the NY boys have their way with the courts and control the reins of prosecutorial power is the destruction of all investment. If they can make money trading and have to rig the game, the end is here.

So the object is to blink before we go that far. But government is digging in its heels refusing to reform or relinquish the slightest amount of power. That is our problem. When they start to pay attention to government instead of the latest sports figures and scores, then things will start to get interesting. Historically, society waits until it is too late and then they just massacre the protesters.

--Martin Armstrong

[link to armstrongeconomics.com]