{"id":12225,"date":"2015-09-13T18:42:27","date_gmt":"2015-09-13T23:42:27","guid":{"rendered":"http:\/\/olduvai.ca\/?p=12225"},"modified":"2015-09-13T18:42:27","modified_gmt":"2015-09-13T23:42:27","slug":"cash-withdrawal-limits-and-bank-holidays-coming","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=12225","title":{"rendered":"Cash Withdrawal Limits and \u201cBank Holidays\u201d Coming"},"content":{"rendered":"<h3><b><a href=\"http:\/\/www.goldcore.com\/us\/gold-blog\/cash-withdrawal-limits-and-bank-holidays-coming\/\" target=\"_blank\">Cash Withdrawal Limits and \u201cBank Holidays\u201d Coming<\/a><\/b><\/h3>\n<ul>\n<li>Concerns that next crisis may be imminent<\/li>\n<li>Bail-ins, withdrawal limits and negative interest rates may be imposed<\/li>\n<li>FT proposes a ban on \u201cbarbarous relic\u201d cash<\/li>\n<li>Central banks would have people \u201ccompletely under their control\u201d \u2013 Bonner<\/li>\n<li>Gold in safe jurisdictions will again protect wealth<\/li>\n<\/ul>\n<p><strong>Collapsing commodities prices, erratic market turmoil and the bursting of Chinese bubbles are leading to a crisis in confidence in the economic system across the globe. The long-expected crisis to which the global financial and systemic crisis in 2008 may have been a mere prelude may be upon us.<\/strong><\/p>\n<p><a href=\"http:\/\/www.goldcore.com\/ie\/wp-content\/uploads\/sites\/19\/2015\/09\/monopoly.png?8cb029\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone  wp-image-3869\" src=\"http:\/\/www.goldcore.com\/ie\/wp-content\/uploads\/sites\/19\/2015\/09\/monopoly.png?8cb029\" alt=\"monopoly\" width=\"645\" height=\"493\" \/><\/a><\/p>\n<p>Governments have no appetite for further bailouts. The EU states have passed legislation which will make the banks or rather unfortunate and unsuspecting depositors liable for the bank\u2019s lending and speculative profligacy.<\/p>\n<p>It is claimed that this is to \u201cprotect\u201d the taxpayer. In reality it will likely lead to\u00a0<a href=\"http:\/\/info.goldcore.com\/what-savers-and-depositors-need-to-do-to-protect-their-savings-and-deposits-from-bank-bail-ins\">bail-ins<\/a>\u00a0\u2013 the confiscation of deposits. It is likely that that in a crisis within the banking system this bail-in mechanism would be imposed on an impromptu \u201cbank holiday\u201d \u00a0followed by limits on cash withdrawals as were applied in Cyprus and more recently to depositors in Greece.<\/p>\n<p><strong>As has been pointed out by many other analysts, the unelected powers-that-be have used all their conventional weaponry to stave off the consequences of their irresponsible ultra loose monetary policies and massive buildup of debt globally \u2013 the largest ever seen in the history of the world.<br \/>\n<\/strong><\/p>\n<p><a href=\"http:\/\/www.goldcore.com\/ie\/wp-content\/uploads\/sites\/19\/2015\/09\/global-debt-2000.png?8cb029\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-3866\" src=\"http:\/\/www.goldcore.com\/ie\/wp-content\/uploads\/sites\/19\/2015\/09\/global-debt-2000.png?8cb029\" alt=\"Global Debt Levels since 2000\" width=\"737\" height=\"521\" \/><\/a><\/p>\n<p>The typical response to a crisis has been to slash rates from somewhere around 6% \u2013 the historic post war norm in the west \u2013 to between 0% and 1%. This has stored up an even crisis in the future \u2013 the question is not if we have another crisis but when.<\/p>\n<div>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cash Withdrawal Limits and \u201cBank Holidays\u201d Coming Concerns that next crisis may be imminent Bail-ins, withdrawal limits and negative interest rates may be imposed FT proposes a ban on \u201cbarbarous relic\u201d cash Central banks would have people \u201ccompletely under their control\u201d \u2013 Bonner Gold in safe jurisdictions will again protect wealth Collapsing commodities prices, erratic [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[46,6224,110,1035,1034,124,7186,195,312,364,374,8689,536,558,8690,9017],"class_list":["post-12225","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-bail-in","tag-bank-holiday","tag-capital-controls","tag-cash","tag-cashless-society","tag-central-banks","tag-chinese-market","tag-debt","tag-financial-crisis","tag-global-debt","tag-gold","tag-goldcore-com","tag-money","tag-negative-interest-rates","tag-systemic-crisis","tag-withdrawal-limit"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12225"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12225\/revisions"}],"predecessor-version":[{"id":12226,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/12225\/revisions\/12226"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}