• published: 04 Apr 2013
• views: 850

GERALD CELENTE: Value Of GOLD, SILVER & BULLION. CYPRUS Banking Crisis - Quitting The Euro? Alex talks with economic trend forecaster and publisher of the Trends Journal Gerald Celente to discuss the looting of Cypriot bank accounts, and what the future holds for Italy, which may be the next nation to be similarly plundered by the EU and IMF. Gold futures are starting the week on a decent note, trading slightly higher in Monday's Asian session on renewed fears about Cyprus' plan to tax accounts at the Bank of Cyprus holding more than EUR100,000. On the Comex division of the New York Mercantile Exchange, gold futures for June delivery rose 0.22% to USD1,599.05 per troy ounce in Asian trading Monday. Gold futures were likely to test support USD1,591.95 a troy ounce, Wednesday's low, and resistance at USD1,608.85, Wednesday's high. Last week, Cypriot President Nicos Anastasiades agreed to punitive losses for the Bank of Cyprus's larger depositors in order to land EUR10 billion in aid to keep his country from going bankrupt. Cyprus was forced to agree to the levies against large Bank of Cyrpus depositors after failing to secure financial assistance from Russia. Under the terms of the new plan, Bank of Cyprus depositors will have 37.5% of their deposits above EUR100,000 turned into voting shares in the bank, which would also entitle the depositors to future dividends. Another 22.5% of the deposits will be withheld to ensure the bank is properly capitalized. In late March, gold reached a 90-day high last week of over USD1,616 per ounce on heightened fears about the situation in Cyprus, but the yellow metal has since fallen victim to some profit taking as Cyprus cut a deal to avoid potential bankruptcy. Other headlines may also be stoking some safe-haven buying in bullion. On Sunday, the U.S. sent fighter jets to South Korea in a bid to show support for that country amid intensifying threatening rhetoric from the North. In recent days, North Korea has even threatened to attack the U.S. Fears about continuing economic instability across the eurozone, exacerbated by the Cyprus bailout, have seen demand for gold soar, according to internet dealer BullionByPost. The company, which sells and delivers bullion to customers via Royal Mail, said it had seen weekly sales triple to more than £4million in the past two weeks. Bloodied by a harsh bailout deal that drives a stake through the heart of this Mediterranean country's oversize financial industry, Cyprus now faces a further blow to its role as an offshore tax haven: the vultures from competing territories are circling. With a flood of e-mails and phone calls in recent days to lawyers and accountants here who make a living from helping wealthy Russians and others avoid taxes, competitors in alternative financial centers across Europe and beyond are promoting their own skills at keeping money hidden and safe. "We are aware of the economic problems facing Cyprus at the moment," read one such message from a law firm in Malta, also a euro zone member. "We would like to propose an avenue of action for your consideration: offering corporate relocation to Malta," continued the business pitch, trumpeting Malta's low taxes and "flexible yet robust regime" for financial services. Similar unsolicited offers have originated in well-known havens like Switzerland, Luxembourg and the Cayman Islands, as well as in a host of other locations, including Dubai and Singapore. Even the northern part of Cyprus, controlled by Turkish Cypriots, has joined the feeding frenzy, promoting its own banks as a stable alternative to those run by Greek Cypriots in the crisis-racked southern part of the divided island. TAGS: Airport, Nazi, World, Government, Planetary, Tyranny, NWO, Global, Obama, Rockafella, CIA, Director, China, Fascist, Order, Social, Decline, Major, Political, Dynasty, Reelection, Socialism, Collectivism, Conservatism, Economic,, Foreign, Banks, London, Corporate, Family, Media, Anti, Free, market, Monopoly, Constitutional, Libertarian, Peace, Bailout, Patriot, Act, Population, Monuments, Texas, Oil, Company, Berlin, Wall, Garbage, Al-queda, Gun-owners, Infowars, Destruction, Agenda, Euthanasia, Soft, Kill, program, eugenics, Biological, Warfare, cancer, murder, David, Icke, Alex, Jones, New, World, Order, NWO, Illuminati, Conspiracy, Truth, Propaganda, Brain, Washing, WW3, wwiii, Globalist, Elite, Takeover, Gerald, Celente, Max, Keiser, Financial, Economic, Crisis, Freedom, Economy, Tyranny, 9/11, 911, FBI, CIA, Zion, Zionism, Zionist, Rothschild, Royal, Family, Tsiyonuttimes, 2013, US, USA, America, Paul, Ryan, Barack, Michelle, Obama, Mitt, Romney, Joe, Biden, President, Election, Democrat, Republican, Forward, Change, foreign, Policy, Politics, Reelection, Government, Tea, Party, George, Bush, Bill, Hilary, Clinton, shocking, Category News & Politics