Click here for full article.
Since just prior to the recent confiscation of depositors’ assets in Cyprus, we have been trying to alert you of the possibility that this confiscation will not be limited to Cyprus, and further confiscation is likely to occur around the world and here in the U.S. Frankly, I believe that sometime in the not too distant future, seizing of depositors’ funds above the guaranteed limit will become one of the normal, standard approaches to recapitalizing ‘failed’ banks in the next banking crisis. As evidence of this, you should note Eric Sprott’s comments about the recent decisions made by the Bank for International Settlements, which is actually, as he says, ‘the Central Bank for Central Banks’. As always, you need to be aware of this possibility!
