It appears that the European Union (EU) is using Cyprus as a test case. Can they eliminate the sovereignty of the nation of Cyprus by strong-arming them to bail out the banks with the private money of the people? I have long been opposed to the elimination of check writing and cash by replacing them with debit cards and/or credit cards. A checkless society makes it easy for a few power hungry people to control the system. Cyprus is a perfect example. Yes, checks must clear the bank but they are mini-contracts with signatures. Cash needs no bank to clear. Now, the Cypriot economy is at a virtual standstill because the heavy credit/debit card usage is concentrated among the large banks, not the small community banks. In the past, community banks could clear checks among themselves without going through the larger banks. Centralized power makes it easier to control the financial system.
Notice that Cyprus is not the lead story on network news. Why? If Americans were to think this event through to its logical conclusion, they would begin taking money out of their banks now. Not all of it, but certainly enough to survive a bank holiday or two. They would look at alternative stores of value such as gold and silver where there is zero control when it is resting in your hand.
Food pantries would be stocked to handle an unexpected run on groceries. The just-in-time distribution of American grocery stores has left the system vulnerable to the spread of fear over the population in the midst of a financial crisis. Nobody wants to be at risk of hunger.
Gun control happens to be the hot topic in the midst of this financial crisis. Do you think those in power have a hint of the potential explosiveness of a fragile banking system? Gun fatalities are a much smaller percentage of the total than that of automobile accidents. There is no suggested ban of cars however.
We are in the midst of a currency war with other countries. Currency wars tend to precede major wars. China, Russia, and Iran are on one side. The U.S., E.U., and Arab countries are on the other side. Newly elected Chinese President Xi Jinping left Beijing Friday morning for state visits to Russia, Tanzania, South Africa and the Republic of Congo. His first stop, Russia.
Market risks are higher than ever before. Looking back at the FED minutes, “Wrong Again Ben” was not worried about a recession while we were in one. He is not worried about inflation while true inflation is running over 8%. How long are we going to pay attention to the smoke and mirrors and live in denial? It is of the utmost importance that we posture our families in a highly defensive mode now. They Cyprus event is a clear warning signal of what those in power will do if given an opportunity. They will throw the population under the bus in order to save themselves. Do you think there is any difference in the mindset in other geographical locations? Absolutely not! I am not an alarmist but history tells us that a small event like Cyprus can trigger a much larger tsunami. I would rather be prepared and wrong than the alternative. “Gee whiz Wally”, I will just eat at home more to lower the pantry levels if I am wrong. I will simply redeposit the excess cash once the danger passes.
The global events make it imperative that our spiritual man be strengthened each and every day. As turmoil continues, our peaceful state will be a light to others. Many will not be able to hear Our Heavenly Father and will look to those who do. Our Heavenly Father’s Wisdom will guide us through the coming uncertainty and suffering, no matter how it develops. The current banking system has left us seriously exposed to what happens across the water. If you don’t pay attention, you will certainly experience regret.