Silver Dollar Values Prices Continue To Skyrocket As Chaos Hits Europe, Banks Limit Withdrawals

June 15, 2012 - PRLog -- It looks like it's going to be another hot summer in Europe. The current liquidity crisis in the southern periphery of the Eurozone continues to spread. There are currently quiet electronic bank runs in progress in Greece and Spain. On Monday, a bank "holiday" was announced in Italy. Then, in some thing we have not noticed reported anywhere else, we received contact from a reader who told us that bank branches are limiting withdrawals now almost everywhere in France. According to Pierre, they are requesting 5 days notice to withdraw 2000 euro.

A year ago the banks asked for 48 hours notice to withdraw 1500 euro. Now, they're asking for more than double the time just to get with each other a couple of thousand euros. Some branches, according to Pierre, such as Caisse d'Epargne don't even deliver any money in the afternoon now. And, others, such as BRED have a 500 euro withdrawal limit. Read more at http://www.silver-dollar-values.com

Pierre also stated that it was even bad a couple of months ago. Four months ago his publisher went to the SocGen Paris 8e district to withdraw 1000 euros. They harassed her asking, "Why do you want this money?" Based on Pierre, the French mainstream propaganda media are almost completely silent on this.

Then, an additional reporter wrote in from his French summer holiday yesterday stating, "In Paris, I took the train to Versailles yesterday and it was full of French military with serious machine guns. The locals said, “this is not normal” in French."

He then followed up these days using the following:
"More guys with assault rifles yesterday at Gare de Lyon, more shocked searching Frenchman. Two days, lots of intimidating looking guns both days. If there is rioting this summer, looks like the government thinks it'll occur in Paris and they're scared. Should be an interesting summer time." We have not seen mention of any of the above in the mainstream media. No surprise.

According to the Irish Times:
"European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro."

The ATM withdrawal limits is currently a fait accompli in the South and the government is currently displaying what it's willing do to innocent individuals caught up in the internet of another state brought on chaotic collapse...limiting the flow of each capital and individuals.

Ahead of Greek elections on June 17, at least one trading house is shutting down completely for the day. OANDA fxTrade announced the following:
"Due to the extreme volatility some marketplace analysts foresee could outcome in the coming days, OANDA fxTrade will not accept any trading activity from 6:00 AM EDT till approximately 3:00 PM EDT, on Sunday, June 17, 2012. OANDA believes the convergence of a significant market event during off-market hours represents a potential trading danger and has taken this rare step to shield traders from excessive rate fluctuations."
A lot of this might be squelched following the Greek elections on June 17th, however. It appears there's no powerful commitment from any of the leading parties to default on the debt and leave the euro. Instead, it'll likely result in some kind of bailout. That is nearly always the way politicians select when confronted with the following two options:
A) Default on the debt resulting in massive non-free market, fascist bank failures and also the majority of the populace losing their savings in the process...leading to chaos in the streets and also the calling for heads
or
B) Print money to bail itself out or get bailed out causing the garbage can to get kicked further down the road and hopefully not reaching a hyperinflationary collapse until the politicians and bankers of the day are long gone and also the blame may be put on someone else. Go here now to http://www.silverdollar.cc for profitable investing ideas.

They usually choose B. The only tricky thing this time is that Greece can't print its own money... however the incentives are nonetheless all of the same. A Greek default would result in a Spanish default, Italian default and so on eventually causing all of the things in B to happen everywhere in the short term. And so, kick the can. After all, as the morose and ridiculous Keynes as soon as stated, "in the long run we are all dead."
A lot, a lot more intelligent man, Ludwig von Mises, stated something more sufficient to the situation:
"The valuation of a monetary unit depends not on the wealth of a country, but rather on the relationship among the quantity of, and demand for, cash. Therefore, even the richest nation can have a bad currency and also the poorest a great one."

More bailouts means more currency. And more supply of currency means it'll have less worth and that's the road probably for the euro until it ultimately reaches its intrinsic worth.

However, with this many moving parts anything can and will occur and it's prudent to do what we currently have done right here at TDV and be mainly in hard assets - geopolitically diversified to shield against political theft danger - and look to get through The Finish Of The Monetary Method As We Know It (TEOTMSAWKI) with most of our assets in tact... and we wouldn't suggest living in any of the major European or US cities for the next few years either if you can help it.

These presently not in Europe ought to be watching with eyes wide open at how this plays out. Restricted bank machine withdrawals or bank holidays, capital controls as well as travel controls will soon be coming to the US along with other western countries so take this opportunity to learn and prepare for this inevitability. Statists always like to say that a world with no violent rulers could be one of chaos. As a lot of Europe burns to the ground in the coming years, keep in mind that its cause all stems from the state. Looks to me like it is a perfect time to buy silver and purchase gold, and hold the bullion your self for safekeeping till you might need it when the banks run out of cash and also the paper currency is worthless! Buy gold, Buy silver! Visit here now http://silver-dollar-values.com for profitable investing ideas.