BOE's Carney let's slip that Western financial leaders are preparing to steal deposits to save banksters ...... think the FDIC deposit insurance protects your deposits - check the Infographic ! BTW , if the financial systems in the West were solvent , why would bail-ins be discussed now ? And if deposit insurance was sufficient , why plan to steal deposits at all ? BTW , speaking of careless whispers , what did Obama and the banksters chat about before gold took its nosedive starting lat Thursday - April 11 , 2013 ?

Global Finance in Transit ?


http://jessescrossroadscafe.blogspot.com/2013/04/gold-daily-and-silver-weekly-charts_18.html

18 APRIL 2013

Gold Daily and Silver Weekly Charts - 'Orchestrated Panic'

"Oh what a tangled web we weave,
When first we practise to deceive."

Sir Walter Scott

Intraday commentary here and here.

In particular listen to what Jeff Sachs has to say.  If you do nothing else, listen to what this man has to say. 

John Brimelow calls the most recent action in the metals markets an 'orchestrated panic.'

And it may not be over. The underlying causes for this, besides the usual opportunity for looting, most likely remain.   The system is failing and the masters of the universe are afraid.

As a reminder, next week on the 25th is the precious metals option expiration on the Comex.

I thought it was interesting that the IMF Has Told the UK To Rethink Austerity.  Oops.

Lars Schall has a very good interview with Norbert Haering:  Money Lies Disguise Banking Truths.

And to everyone's delight the DharmaDude has a new piece out, Unklung Goldenfreude.   He gives Herr Krugman a light spanking with his own words.  Where is Mademoiselle Le Moderateur?

And finally Denver Dave serves up a piece on The Law of Unintended Consequences.

Russia is running the G20 this year.  They have scheduled a conference in May titled Global Finance in Transition.  An intriguing title, and yet so few have heard of it.  The BRICs are not happy campers.

On May 7-8, 2013, Istanbul (Turkey) will host the Global Finance in Transition conference. The event is organized by the Central Bank of the Republic of Turkey jointly with the Reinventing Bretton Woods Committee and the Russian Ministry of Finance.

Representatives of G20 finance ministries and central banks, international organizations, research institutions and businesses will take part in the conference. Head of Turkey's Central Bank Erdem Basci, Deputy Minister of Finance of Russia Sergei Storchak and Executive Director for the Reinventing Bretton Woods Committee Marc Uzan will give the opening remarks at the conference.

Five panel discussions are planned as part of the event. They will cover the international financial architecture, in particular, changes in the flow of global investments, local bond markets and growth in emerging economies, incentives and determinants of investment and other issues. In addition it is expected that new instruments and incentives for making the global financial system safer will be suggested during the forum

Change occurs slowly, and greatest changes occur very slowly and almost imperceptibly.  Until they make themselves known that is, and then it is like lightning flashing across the sky.

http://www.zerohedge.com/news/2013-04-18/what-exactly-did-obama-say-wall-streets-ceos-last-thursday

( Beware the Ides of April ? )

What Exactly Did Obama Say To Wall Street's CEOs Last Thursday?

Submitted by Tyler Durden on 04/18/2013 22:06 -0400

• Crude
 
• Crude Oil
 
• Equity Markets
 
• Precious Metals
• President Obama
 
• White House

Correlation is not causation; but coincidence means you're on the right path. Looking at the charts of Stocks, Commodities, and Precious Metals, we wonder just what it was that President Obama said at his 11amET White House meeting last Thursday...

Equity markets soared out of the gate on the 11th. Jobless claims beat expectations handily(shaking off the previous week's concerns) and all was well in the world... until just after 11am ET (when the CEOs of Wall Street's big banks - for no apparent reason - met with President Obama)... and this happened...

Gold also peaked at just after 11am ET...

as did Crude oil...

So what did Obama tell them?

Charts: Bloomberg

http://silverdoctors.com/boes-carneys-dieselboom-policy-makers-working-diligently-to-devise-an-international-bail-in-regime/#more-25297

BOE’S CARNEY’S DIESELBOOM: POLICY-MAKERS WORKING DILIGENTLY TO DEVISE AN INTERNATIONAL “BAIL-IN” REGIME

APRIL 18, 2013 BY THE DOC LEAVE A COMMENT

Outgoing Bank of Canada Governor (& Goldman alum and incoming BOE Governor) Mark Carney just released an epic Freudian slip today during a televised speech in Washington regarding the Western financial system’s co-ordinated move from bailouts to bail-ins as official policy to future bank crises.

It’s one thing when the editor of an obscure financial blog discovers bail-in language written into policy by the Fed, Bank of England, the Bank of Canada, Italy, & New Zealand and it goes viral throughout the alternate financial blogosphere, and it is another thing entirely when the incoming head of the Bank of England himself accidentally lets slip that Western financialpolicy-makers are working diligently to devise an international “bail-in” regime to prevent big bank failures.

Mark Carney’s DIESELBOOMesq retraction in 3…2…1….

As Yahoo Finance Canada reports:

Mark Carney says policy-makers are working diligently to devise an international “bail-in” regime to prevent big bank failures, but he offered no guarantee that individual deposits would be protected.

The Canadian central banker, who is a few months away from heading the Bank of England, says banks must have a set of buffers in place to draw on in an emergency.

No worries however according to Carney, as it is “hard to fathom” why it would be necessary to dip into depositors accounts, while at the same time refusing to rule out the confiscation of accounts under deposit insurance limits:

Carney did not answer whether there should be a total hands-off treatment to non-secured accounts as well, which in Canada would mean deposits over $100,000.

Still, Carney says Canadians should not lose any sleep over the safety of their deposits.

He says Canadian institutions have sufficient capital and other buffers in place making it hard to fathom why it would be necessary to dip into deposits.

We are fairly certain that 2 months ago it would have been hard for Cypriots to fathom that their deposits would be confiscated by the ECB/IMF.

http://silverdoctors.com/fdic-deposit-insurance-scam-the-infographic/

FDIC DEPOSIT INSURANCE SCAM: THE INFOGRAPHIC

APRIL 18, 2013 BY THE DOC 3 COMMENTS

In the wake of bail-ins as the new bank resolution method of choice throughout the entire Western world, our friends at Demonocracy have released a MUST SEE infographic on the FDIC illusion of insured bank deposits.  

The infographic gives a visual view on the size of FDIC’s fund vs. the total deposits that the FDIC covers.
What happens to the rest of deposits in the event of a banking crisis?  Well, that’s what bail-ins are for!

Full infographic is below:

Take a closer look at total US bank deposits stacked next to the FDIC’s fund.  Still think the FDIC could actually cover your deposit in the event of a banking crisis?