Continue to prepare for the coming financial collapse…
While there are several comments one can make here, “dirty money”, “flush with cash” and “flushing money down the toilet” certainly coming to mind, perhaps the ECB was on to something when it warned that €500 “Bin Laden” bills (which it has since discontinued to print) tend to be used by criminals.
The reason for this is that in recent weeks, Swiss prosecutors have been gripped by a mystery, trying to figure out why someone tried to flush tens of thousands of euros down the toilet at a Geneva branch of UBS.
And not just once.
The first €500 bills were discovered several months ago in a bathroom close to a bank vault containing hundreds of safe deposit boxes, according to a report in Tribune de Geneve confirmed by the city prosecutor’s office. A few days later, Bloomberg adds that more banknotes turned up in toilets at three nearby restaurants, requiring thousands of francs in plumbing repairs to unclog the pipes. Indeed, AP adds that at one pizzeria, police were informed after the clogged toilet had overflowed
Irlmaier warned of the collapse of the Euro. Expect this to lead to high inflation and then hyperinflation, which Irlmaier also warned of. https://t.co/D90Q6jhUGo
— Alois Irlmaier (@AloisIrlmaier) April 22, 2017
— New Eastern Outlook (@JournalNEO) April 22, 2017
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The Brexit was only the beginning.
Four months ago, Great Britain voted to leave the European Union (EU). The decision caught investors by surprise and triggered one of history’s most violent selloffs.
It erased more than $3 trillion from the global stock market in just two days. And the pound sterling, Britain’s currency, plunged 8% in one day. The pound is now trading at its lowest against the U.S. dollar in three decades.
In the shadow of Donald Trump’s spree of controversial actions, the European commission has quietly launched the next offensive in the war on cash. These unelected bureaucrats have boldly asserted their intention to crack down on paper transactions across the E.U. and solidify a trend that has been gaining momentum for years.The financial uncertainty amplified by Brexit has incentivized governments throughout Europe to seize further control over their banking systems. France and Spain have already criminalized cash transactions above a certain limit, but now the commission has unilaterally established new regulations that will affect the entire union. The fear of physical money flowing out of the trade bloc has manifested a draconian response from the State.
ATHENS, Greece (AP) — Nothing is inevitable in financial markets — except perhaps the return of Greece as a source of concern. More than seven years since Greece’s sky-high debts first unnerved investors and stoked speculation of the end of the euro currency, the country is back in the spotlight for the same reasons.
H/t reader squodgy:
“Not long now….”
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