BANK HOLIDAY'S IN CYPRUS, expect them soon!

http://theextinctionprotocol.wordpress.com/2013/03/18/confusion-and-panic-spreads-in-cyprus-bank-holiday-extends-to-tuesday-to-prevent-bank-run/

Confusion and panic spreads in Cyprus: Bank holiday extends to Tuesday to prevent bank run
Posted on March 18, 2013 by The Extinction Protocol
March 18, 2013 – CYPRUS – For those who read the previous article on the topic of last minute chaos and confusion in Cyprus, and Europe, it will come as no surprise that the previously scheduled Monday bank holiday (aka Green Monday) has been extended into Tuesday. So prepare to not be surprised: The Cypriot cabinet has declared Tuesday a bank holiday, for fear of capital flight, and this may even be stretched to Wednesday, as depositors are certain to withdraw huge sums from the Cypriot banks after the haircut imposed. Nicosia postponed from Sunday to Monday the tabling in Parliament of the bill including the measures for the Cypriot bailout – including a bank account haircut and a tax hike on interest and corporate earnings – but the European Central Bank insists on a rapid voting because there are already signs a domino effect will follow across European lenders and markets from Monday. There is genuine fear of market unrest on Monday morning when stocks may crumble in the eurozone and bank accounts in other southern European bank may suffer. Skai radio reported on Sunday that the Bank of Greece has sent between 4 and 5 billion euros to Cyprus in order to help Cypriot banks respond to cash requirements by their clients. So, if the official name of the March 18 holiday was “Green Monday,” will the March 19th ad hoc holiday be called “Red Tuesday”? Inquiring minds want to know. –Zero Hedge

V'S COMMENTS ON CYPRUS BURNING AND WHAT LIES AHEAD

Steve, I thought the Greek situation was heartbreaking when a nation, one of the forerunners of democracy and individual freedom has been ramshackled by the vampiric borg named the EU. I thought the strip mining program of Ireland's economy was bad, when the Celtic Tiger was relegated to a Gaelic kitten. The crisis in Spain and Italy was something that I was watching intently looking for the very playbook of austerity, the strategy of impoverishing nations and subjugating individuals laid bare to those with eyes to see,

Cyprus is a tiny nation one with a tiny economy, in other words the perfect environment to run a beta-test on what a GLOBAL AUSTERITY would look. The perfect economic laboratory. What is purposed in Cyprus was for many years a program that was discussed by central banks, the IMF, and the world bank. This program undertakes the procedures and methods to bring down large globally traded, high GDP based currencies. In other words, Cyprus is simply not just the canary in the Coal mine it is the Coal mine. It is the very picture with all rudiments and structures of a self contained economic petri dish that has been setup to study the contagions of the Euro. What they could not do in Iceland they are doing in Cyprus.

To clarify this I will put it to you this way: Cyprus for all intents and purposes is a self contained economy, an island separate from main land Europe thus making it perfect to implement harsh capital controls like the proposed levies on bank accounts. The people of Cyprus can not escape as there is no adjacent border close to it. Except Turkey which is 47 miles away and a source of contention amongst the Cypriot Grecian majority. As I said the perfect petri dish.

The proposed bank levies of 6.75 per cent and 9.99 per cent on account below and above $100,000. The real numbers would be over 10 per cent for below $100K and 20 per cent above $100K. This is crushing to savers, punishing investors and destroying what is left of the Cypriot economy. This will cause a run on the Cypriot banks as people pull out. The rich of the island will flee not to the Euro but to the dollar raising the DOW and US T bills. Cyprus is an appendectomy of the sick man called Europe.

So what does this have to do with the American and the price of a Big Mac in St.Louis? Simple. The American national debt sits at (not counting entitlements or financial market losses) at $16 trillion. Guess what is the amount of money that Americans have sitting in their banks? That's right $16 trillion. Mark my words they will do a play on your funds while selling you the bill that it is your responsibility to pay the piper.

Look for this in the coming weeks and months. The bank run in Cyprus will send panic across the Eurozone's southern economies. Causing the populace the pre-emption to remove their funds before the Banksters come knocking. The Cyprus situation will cause further angst and hatred to the German architects of this plan. There will be a move by the Cypriots to exit the Euro and go back to the Cypriot Pound, which in my opinion will be the best solution for them.

The further turmoil in the Eurozone will cause a major flight to the USD. The DOW will sky rocket past the 15,000 barrier and onto to 16,000. All this of course will be the temporary ruse as Japan implodes. The only way to survive and exit permantly the games and the nexus of the Banksters is to buy precious metals. Do it NOW another sign has been passed on the road to collapse.

Mar 17, 2013

http://www.stevequayle.com/index.php?s=33&d=323

http://www.blacklistednews.com/Business_Cyprus_Central_Bank_Orders_Banks_to_Suspend_Operations_-_Report/24798/0/38/38/Y/M.html

Business Cyprus Central Bank Orders Banks to Suspend Operations - Report
March 17, 2013
Print Version

Source: RIA Novosti

The Central Bank of Cyprus has ordered all national banks to suspend operations at both domestic and foreign offices, a Cypriot news website reported on Sunday.

Cypriot website 24h said it has obtained a confidential Central Bank letter calling on Cypriot banks on Saturday to stop all form of payments from their accounts, even those that were from one account at the bank to another.

The measure, which Cypriot media said is a “blow to the country's banking system,” comes after EU finance ministers agreed on Saturday to tax deposits in Cyprus as part of the extraordinary 10 billion-euro ($13 billion) bailout.

Debt-laden Cyprus has been forced to impose a levy of 6.75 percent on deposits of less than 100,000 euros and 9.9 percent on deposits with greater sums. Cypriots reacted with shock and rushed to banks' cash machines that refused to release cash.

Cypriot President Nicos Anastasiades said he had to choose between the "catastrophic scenario of disorderly bankruptcy or the scenario of a painful but controlled management of the crisis". He said those who keep deposits in Cypriot banks for two years will get half of the value of the levy in securitized gas revenues.

Cyprus’s debt crisis puts at risk Russian businesses, which have strong financial ties with Cyprus, Moody's credit-rating agency said on Wednesday. The report said Russian banks working with the Russian companies registered in Cyprus, might lose billions of dollars should the island's government default on its debt obligations.
Updated adding Russia's possible risk in Cyprus's crisis, president's statement

Agreed, now setting stage to destroy world banking and thus the way we do business and trade.

One should take this to heart and start preparations to necessary hard goods for survival along with clothing and food and don't store where can be easily found.

When the banking goes only barter will exist until they trash that method too, and seize all assets and tangible goods.

Yes this was a baby step but you can expect it to accelerate now!

Warning is done, it is in you face!

Was it Lindsey Williams who said that 2-3 weeks after the euro fails the dollar will fail?

At the rate that the big investors are dumping their stocks in American companies like Kraft and Family Dollar Store, it is evident they are not fooled by the recent uptick in the stock market. It is expected that it will go up when people flee the euro, but it won't stay that way.

Precious metals and commodities are the only way to go - in hand.