- Turk – Money Is No Longer Safe In Banks After Cyprus Theft!
Today James Turk told King World News there are bank runs happening in Europe once again. Turk also believes this is a wake-up call to all bank depositors around the world. He also stated that physical gold and silver buyers have now become more aggressive and are in a position to overwhelm the manipulators and central banks because of the Cyprus theft. Here is what Turk had to say in this exclusive interview:
“There are bank runs here in Europe again, Eric. Today is a national holiday in Cyprus, so the banks are closed. But people are lining up at ATMs to get their money out before the ATMs run dry. And there is talk that a bank holiday will be declared, possibly keeping them closed for days.
Depositors in Cyprus are going to lose some of their money as part of a proposed EU bailout of that country announced over the weekend, which like a a number of other countries, along with its banks, are insolvent and teetering on the edge of bankruptcy….
To me this proposed bailout is outright theft, and theft cannot be justified, but the central planners are trying to do that anyway. They are claiming that much of the money on deposit in Cyprus belongs to Russian oligarchs and Russian mafia. So the message from the EU and IMF oligarchs to the Russian oligarchs is clear: It may be your money, but it is deposited in banks under our control, so we can grab it if we want. The rule of law and the respect for private property continues to be eroded.