Cyprus risks euro exit after EU bailout ultimatum
Stocks Close Lower as Cyprus Spooks Investors
Cyprus makes frantic effort to prevent run on its banks
Euro may be doomed whether Cyprus stays or goes
Cyprus weighs new bailout plan as meltdown looms
We live in a time where things are unwinding. How far, how fast and how painful it will be is unknown and unknowable. We’ve spent decades building this global house of cards, and now the breeze is stirring. Despite the efforts of governments around the world, it’s going to fall. Is Cyprus going to be the trigger event? Beats hell out of me, but it’s a good candidate. As I see it, black swans don’t have to happen suddenly.
Since my post a few days ago, I’ve taken a number of steps. No single one has been large, but taken together they are sizable. I have converted a nice little chunk of funny green paper into some items that may (or may not) be useful in this unseen future we face. I’ve made some moves to protect some of that funny green paper, just in case it retains some semblance of worth. I’m also putting considerable time into simple watching the news, educating myself on what is going on.
I am concerned that I’m over-reacting to the stimulus, so I am hedging my bets to some extent. But I stand ready to make some very large moves in a very big hurry if necessary.
I can tell you that time is short, and that may or may not be correct. I can tell you that you need to do whatever it is you can to protect yourselves, those you are responsible for and your assets, and that is correct. Heck, you should be doing that even it things are booming.
We’ve never seen anything like what is coming. Maybe we’ll get lucky and it will pass us by. But do you want to bet your life on luck?