first majestic silver

Cyprus Misses Chance at Starting Bitchcoin

April 11, 2013
“Give a man a fish and you feed him for a day. Teach a man how to fish and you feed him for a lifetime.”
Cyprus has over the centuries been bought, sold and conquered numerous times. Its people have however managed to endure all trials and tribulations. This morning however I awoke to confirmation that the confiscation of bank deposits in March was nothing more than the first instalment of a process whereby its people, its sovereignty and its sovereign assets are to be sold in quick succession. Yes, the Cypriots have been sold out by their own leaders who history will judge to be either stupid or traitorous and perhaps both.
The latest is that the probe that had been announced seeking details about large transfers out of Cyprus prior to the confiscation news, has been suspended.

In the words of Demitris Syllouris:

"It was with great disappointment and anger that, when we opened the envelope, we realised it contained data for only 15 days even though we had asked for a year.......This kind of behaviour is unacceptable."

Everything you suspect about the Cypriot leadership is worse than you think.

But the news gets better.

Cyprus has decided to enter that Great Hall of Fame alongside the Great Gordon Brown who also sold Britain's interests out, by selling 10 tonnes of its 13.9 tonnes in gold. As I wrote back in January 10, 2010:

"On May 7th, 1999 Gordon Brown without consulting the Bank of England and without even debating the timing of the sale, decided to sell off a sizeable portion of England's gold holdings. To be precise, the amount sold was 395 tonnes over a period of 35 months beginning on July 6, 1999 and ending on March 5, 2002. A total of 17 auctions netted an average price of $274.92. That equates to $3.49 billion."

Even at today's specially downward manipulated price ($1,557), Gordon Brown's decision has cost the good people of the United Kingdom somewhere in the vicinity of $16.2 billion. That is correct, Gordon Brown lost over $16 billion with one lousy decision.

If the leaders of Cyprus had any pride, morals, patriotism, brains or even just one male gonad they would have struck back at the well laid plan of outside interests which was designed to strip it of any self determination.


Well, we have all been watching Bitcoin and no doubt the ride has been highly profitable for some but disappointing for others. In the case of Cyprus, they could have "minted" BITCHCOIN as a means of turning the tables on a financial construct that seeks to vacuum nations and peoples of every scintilla of wealth whether that wealth be called fiat, precious metals, sovereignty, sovereign assets and even democracy.


When the Cypriots decided to bow down to the confiscation of their citizens' deposits, they should have confiscated those funds in the name of the government and not for the re-capitalisation of banks.

The next step was to place simultaneous orders on international markets and exchanges for $7.8 billion worth of silver bullion. If they added the proceeds of selling 10 tonnes of gold, the orders would have come to another $500 million or a total of around $8.3 billion worth of silver.

Now $8.3 billion in silver at a price of $28 comes to 9,220 tonnes or much more than any repository in the world holds.

Now do I have to explain why I called my new coin Bitchcoin?


The above plan could have become the death knell for the corrupt banking structure had the Cypriot order for silver been backed up by orders from Greece, Portugal and Spain amongst others.

So there would have been three outcomes:

1. The world's banking system is brought to its knees if not flat on its face.

2. A cash settlement is agreed upon in which case Cyprus would easily double its money

3. Cyprus is unexpectedly invaded by a certain neighbour.

The way to bringing the world back to a gold standard is through an attack using silver due to its cheapness and scarcity of above ground stocks when compared to gold.

Perhaps the spike in silver price would take it well beyond its true value but the purpose ultimately is not to profit but to restore truth in a system that is riddled with rotten structures, corrupt practices and psychopaths who know no limits.

Is Cyprus capable of such a brazen move?

Of course not.

Its leaders are incompetent stooges and Cypriots will pay the price by being bombed back into the financial stone age for many many years to come. The remonstrations by Putin were just that. Deep down even he allowed his oligarchs to suffer so as to send a warning to other oligarchs about entrusting their funds to western banks as he has been warning them for over a decade.

The whole exercise was not about accessing a measly 6 billion euros but it was about stripping Cyprus of its tax haven status, its banking structures and subsequently its gas reserves. Mark my words, it is my humble opinion that those gas reserves will remain as reserves for a very long time as neither Russia nor OPEC would want to see fresh supply come onto the markets. Germany on the other hand will come to control those gas reserves as a back up plan against any Russian blackmail which seeks to use gas supplies to Europe as an ace.

Germany also acted in its own interests. Cyprus and everyone else knew that its banking system had been dealt a heavy blow with the impairment of Greek Government Bonds in which it was too heavily invested. But the day of reckoning was delayed until the German banks that had lent money to Cypriot banks could withdraw the bulk of their deposits which were tied up on a time basis.


One can never be sure whether the aim of one world government lies behind the systematic levelling of so many economies or whether the big powers honestly believe that their strategies are in fact cures for what ails the world's financial systems. Either way, we are in for at least a long period of suffering and uncertainty unless pandemic, war or some fat fingers push the wrong buttons on Wall Street or Pyongyang simultaneously.

For Cyprus a hellish existence is assured and you can be sure that they will be dictated to and goaded into many other acts of sovereign depletion. Yes dear readers, Cyprus has sold its fishing rod for a fish that stinks even from a distance. Then again she has not been the only one so far and will not be the last one to do so.

For the rest of you, I can only advise that you ride the coat tails of those who have engineered the drop in gold and silver prices to secure yourselves an additional layer of fur for when the economic winter arrives in full.

It's a sad and miserable world. Perhaps I am naive but my predictions to date beginning with my writings back in March 2009, have been very close to the mark. At least far closer than Bernanke's.

By coincidence I am now off to the funeral of a friend's elderly mother who happens to be Cypriot. At least her suffering is at an end. To her I humbly dedicate today's missive.

Sydney Australia

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