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Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...

 
Anonymous Coward
User ID: 14049927
United States
03/25/2013 09:10 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
This shit may come here, but don't let the fear mongers freak you out. We have time, but not much. You should make sure you have supplies to get through any contingency.
Manu-Koelbren

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Spain
03/25/2013 09:15 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Bank notes are simply receipts for your actual gold.

The bank is supposed to have the gold to back up all the money deposited with it.

 Quoting: Anonymous Coward 1546575


Guess again. Maybe that's the way it <i>was</i> supposed to be in your country, but once it's a Fiat currency, no more.

The US dollar has been a Fiat currency for a while now.

Fiat basically means it's worth what they say it's worth. "Full faith and credit (yeah, right) of yada yada yada..."
 Quoting: Anonymous Coward 30120084


Full faith until you come out and say the bankers can use your money for rescuing themselves, after that no more full faith chuckle
"White privilege" is the liberal religion's version of Original Sin: you are born guilty, and you carry that burden of guilt all your life, and the only way to escape eternal damnation is for white people confess their sin, to bow, kneel and believe the dogma of the Church of Liberalism, genuflect at its altars, honor its saints, fill the collection plate, and never, ever doubt.

-- Dixon Diaz
Anonymous Coward
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03/25/2013 09:18 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Question did anyone actually draw out money. Or are they just happy with pieces of paper with a number drawn on it representing their money? aka bank notes.
 Quoting: Anonymous Coward 1546575


That's better than the gold plated (1micro thick) tunsgtens coins.
Manu-Koelbren

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Spain
03/25/2013 09:20 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Question did anyone actually draw out money. Or are they just happy with pieces of paper with a number drawn on it representing their money? aka bank notes.
 Quoting: Anonymous Coward 1546575


That's better than the gold plated (1micro thick) tunsgtens coins.
 Quoting: Anonymous Coward 27972246


CRUISE
"White privilege" is the liberal religion's version of Original Sin: you are born guilty, and you carry that burden of guilt all your life, and the only way to escape eternal damnation is for white people confess their sin, to bow, kneel and believe the dogma of the Church of Liberalism, genuflect at its altars, honor its saints, fill the collection plate, and never, ever doubt.

-- Dixon Diaz
Anonymous Coward
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03/25/2013 09:25 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Bank notes are simply receipts for your actual gold.

The bank is supposed to have the gold to back up all the money deposited with it.

The truth is it cant, so usually if there's a run on the bank, the larger central bank e.g. the ECB is supposed to supply the smaller bank with the gold it needs to give to the people that want their money back out of the bank.



Can someone enlighten me, what is the case with Cyprus??
 Quoting: Anonymous Coward 1546575


Its called Fractional Reserve Banking...

any questions?

Fractiona Reserve Banking is pure evil.
Anonymous Coward
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United States
03/25/2013 09:26 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Bank notes are simply receipts for your actual gold.

The bank is supposed to have the gold to back up all the money deposited with it.

The truth is it cant, so usually if there's a run on the bank, the larger central bank e.g. the ECB is supposed to supply the smaller bank with the gold it needs to give to the people that want their money back out of the bank.



Can someone enlighten me, what is the case with Cyprus??
 Quoting: Anonymous Coward 1546575



Western nations, and for that fact most every other nation, shit canned the gold standard back in 1970. Money today is only backed by the promise of said nation to pay on demand. Nothing more... banks do not have gold to back fiat.
 Quoting: Anonymous Coward 1003364


^^^ THIS ^^^

Money is no longer backed by gold.. the gold is an illusion now, but the lethal effects of Gold Fever is still amoung us... like some damned virus.
Anonymous Coward
User ID: 27972246
United States
03/25/2013 09:33 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Bank notes are simply receipts for your actual gold.

The bank is supposed to have the gold to back up all the money deposited with it.

The truth is it cant, so usually if there's a run on the bank, the larger central bank e.g. the ECB is supposed to supply the smaller bank with the gold it needs to give to the people that want their money back out of the bank.



Can someone enlighten me, what is the case with Cyprus??
 Quoting: Anonymous Coward 1546575



Western nations, and for that fact most every other nation, shit canned the gold standard back in 1970. Money today is only backed by the promise of said nation to pay on demand. Nothing more... banks do not have gold to back fiat.
 Quoting: Anonymous Coward 1003364


So really we are just going about with money made out of paper with nearly worthless intrinsic value.
But wait it must have value, who assigns its value, and why do currencies change in value...

I know if we turn the banknote printers on that it dilutes the money supply and makes each note less valuable, i think that's called quantitative easing.

So if we collect millions of bank notes and burn them,, does that purify the money supply and make the rest of the notes go up in value??
 Quoting: Anonymous Coward 1546575


For the past 52 years from the first paper dollar I even had.. for the past 52 years that 'intrinsically worthless' paper has feed me, housed me, clothed, bathed me, watered me, feed and watered my horses, feed and watered my car, and has helped everyone I have ever spent that intrinsitically worthless paper to have much of them sorts of things. Yea.. you are right, that paper was so intrinistically worthless billions have lived with it their entire lives...

Hell, I even used this intrinsitcally worthless paper to buy a pair of gold wedding rings. The marriage has lasted, the rings are now paper thin and not worth as much as they once were.
Bucephelus

User ID: 31518006
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03/25/2013 09:34 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
.

It was bad Goldman Sachs bets that
killed their economy, not unions.

.
 Quoting: Anonymous Coward 29189500
.


No matter how you commie cock-bags want to slice it,
Socialism is the cause of this fucking bullshit.


Socialist, Unions, Commies, Re-distributors, ...
they're all the same RED motherfuckers!!!


commiefist

.
Bucephelus
Trickster

User ID: 31720419
Germany
03/25/2013 09:37 PM

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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
This is the first time in my life I am happy to not have much money lol, they can have some old underwear and the empty aquarium in the basement if they pull that same shit off in Germany.
And Miles to go before I sleep, miles to go before I sleep....
Anonymous Coward
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03/25/2013 09:38 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
have to admit though, that whole narrative, we gonna take shit from the big bad wolf (the russian oligarchs) and leave the little folk be, had me a little confused...i mean why would the cabal take from one part of the syndicate and give it to the other; they work for the same master for christ's sake

well played motherfuckers, well played

clappa
 Quoting: Anonymous Coward 34546739


Yes, it was very well played.. the feint, the dodge, the long pass, and he's off to score.. .Touchdown for Team Oligrachy.
Anonymous Coward
User ID: 27972246
United States
03/25/2013 09:42 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
he will blow you up to usa...

and remember all this shi* that is happening in europe is thx to the american Wall Street bankers...
 Quoting: Anonymous Coward 36784441


It is the fucking politicians! Who makes the rules?
 Quoting: Fire Watch


remember: "give me control of the money supply and i dont care who makes the laws"
 Quoting: Anonymous Coward 36784441


He forgot that those that makes the laws can change the policy and take his power of control of the money supply away from him... He never stated the entire thought, only a half baked utterance..
Manu-Koelbren

User ID: 1312616
Spain
03/25/2013 09:42 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Bank notes are simply receipts for your actual gold.

The bank is supposed to have the gold to back up all the money deposited with it.

The truth is it cant, so usually if there's a run on the bank, the larger central bank e.g. the ECB is supposed to supply the smaller bank with the gold it needs to give to the people that want their money back out of the bank.



Can someone enlighten me, what is the case with Cyprus??
 Quoting: Anonymous Coward 1546575



Western nations, and for that fact most every other nation, shit canned the gold standard back in 1970. Money today is only backed by the promise of said nation to pay on demand. Nothing more... banks do not have gold to back fiat.
 Quoting: Anonymous Coward 1003364


So really we are just going about with money made out of paper with nearly worthless intrinsic value.
But wait it must have value, who assigns its value, and why do currencies change in value...

I know if we turn the banknote printers on that it dilutes the money supply and makes each note less valuable, i think that's called quantitative easing.

So if we collect millions of bank notes and burn them,, does that purify the money supply and make the rest of the notes go up in value??
 Quoting: Anonymous Coward 1546575


For the past 52 years from the first paper dollar I even had.. for the past 52 years that 'intrinsically worthless' paper has feed me, housed me, clothed, bathed me, watered me, feed and watered my horses, feed and watered my car, and has helped everyone I have ever spent that intrinsitically worthless paper to have much of them sorts of things. Yea.. you are right, that paper was so intrinistically worthless billions have lived with it their entire lives...

Hell, I even used this intrinsitcally worthless paper to buy a pair of gold wedding rings. The marriage has lasted, the rings are now paper thin and not worth as much as they once were.
 Quoting: Anonymous Coward 27972246


There's nothing of value in the paper itself but in your faith to believe that it's worth anything. When that illusion ends then you will realize that your nation was printing those pieces of paper not based on actual economic productivity but based upon their own whims, and then BAM! reality hits you hard brah.

Last Edited by Manu-K on 03/25/2013 09:46 PM
"White privilege" is the liberal religion's version of Original Sin: you are born guilty, and you carry that burden of guilt all your life, and the only way to escape eternal damnation is for white people confess their sin, to bow, kneel and believe the dogma of the Church of Liberalism, genuflect at its altars, honor its saints, fill the collection plate, and never, ever doubt.

-- Dixon Diaz
Matt
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03/25/2013 09:43 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
interestingshocked
Anonymous Coward
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Greece
03/25/2013 09:44 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
This is the first time in my life I am happy to not have much money lol, they can have some old underwear and the empty aquarium in the basement if they pull that same shit off in Germany.
 Quoting: Trickster


Do not give them the aquarium :) Or the underwear for that matter.
The whole point is they have no right to it. A little or a lot it's yours.
Anonymous Coward
User ID: 27972246
United States
03/25/2013 09:47 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
"The stealth withdrawals by Russians of course means that the two megabanks are now utterly drained of capital, and that the haircuts on those who still have unsecured deposits with the two banks will be so big it will likely mean a complete wipeout of all deposits. As in 0% recovery on your deposits!

In other words, by now any big Russian funds in Cyprus are long gone, and the only damage accrues to the locals: for one reason because their money over the critical EUR100K threshold has been "vaporized", and for another because the marginal driving force and loan demand creator in Cyprus, the Russians, are gone and are never coming back again.

This is what passes for monetary real-politik in the New Normal - an entire nation becomes collateral when pursuing a wealthy group of people.

If we were Cypriots at this point we would be angry. Very, very angry."


[link to www.zerohedge.com]
 Quoting: Anonymous Coward 1003364


THE TRUTH IS THEIR MONEY VAPORISED INTO THE POCKETS OF JEWS MANIPULATING THE EU MONETARY CRISIS.
 Quoting: Anonymous Coward 36868023


You must, like Hilter, work for Rothschild.. right?
Paradox0910

User ID: 14362939
Canada
03/25/2013 09:51 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
"Not an ocean of tears nor all the guns in the world can transform those pieces of paper in your wallet into the bread you will need to survive tomorrow. Those pieces of paper, which should have been gold, are a token of honor – your claim upon the energy of the men who produce. Your wallet is your statement of hope that somewhere in the world around you there are men who will not default on that moral principle which is the root of money."

~Atlas Shrugged (Francisco D'anconia rebutting the statement that money is the root of all evil)
The only thing I hate more than you, is myself.
Anonymous Coward
User ID: 4547295
United States
03/25/2013 09:53 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Bank notes are simply receipts for your actual gold.

The bank is supposed to have the gold to back up all the money deposited with it.

The truth is it cant, so usually if there's a run on the bank, the larger central bank e.g. the ECB is supposed to supply the smaller bank with the gold it needs to give to the people that want their money back out of the bank.



Can someone enlighten me, what is the case with Cyprus??
 Quoting: Anonymous Coward 1546575



Western nations, and for that fact most every other nation, shit canned the gold standard back in 1970. Money today is only backed by the promise of said nation to pay on demand. Nothing more... banks do not have gold to back fiat.
 Quoting: Anonymous Coward 1003364


So really we are just going about with money made out of paper with nearly worthless intrinsic value.
But wait it must have value, who assigns its value, and why do currencies change in value...

I know if we turn the banknote printers on that it dilutes the money supply and makes each note less valuable, i think that's called quantitative easing.

So if we collect millions of bank notes and burn them,, does that purify the money supply and make the rest of the notes go up in value??
 Quoting: Anonymous Coward 1546575


For the past 52 years from the first paper dollar I even had.. for the past 52 years that 'intrinsically worthless' paper has feed me, housed me, clothed, bathed me, watered me, feed and watered my horses, feed and watered my car, and has helped everyone I have ever spent that intrinsitically worthless paper to have much of them sorts of things. Yea.. you are right, that paper was so intrinistically worthless billions have lived with it their entire lives...

Hell, I even used this intrinsitcally worthless paper to buy a pair of gold wedding rings. The marriage has lasted, the rings are now paper thin and not worth as much as they once were.
 Quoting: Anonymous Coward 27972246


Right on, that worthless piece of paper has taken me all over the planet and given me so many joyful experiences. Just spent time drinking some Belgian beer bought with?
Manu-Koelbren

User ID: 1312616
Spain
03/25/2013 09:54 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
"The stealth withdrawals by Russians of course means that the two megabanks are now utterly drained of capital, and that the haircuts on those who still have unsecured deposits with the two banks will be so big it will likely mean a complete wipeout of all deposits. As in 0% recovery on your deposits!

In other words, by now any big Russian funds in Cyprus are long gone, and the only damage accrues to the locals: for one reason because their money over the critical EUR100K threshold has been "vaporized", and for another because the marginal driving force and loan demand creator in Cyprus, the Russians, are gone and are never coming back again.

This is what passes for monetary real-politik in the New Normal - an entire nation becomes collateral when pursuing a wealthy group of people.

If we were Cypriots at this point we would be angry. Very, very angry."


[link to www.zerohedge.com]
 Quoting: Anonymous Coward 1003364


THE TRUTH IS THEIR MONEY VAPORISED INTO THE POCKETS OF JEWS MANIPULATING THE EU MONETARY CRISIS.

^this
 Quoting: Anonymous Coward 36868023


You must, like Hilter, work for Rothschild.. right?
 Quoting: Anonymous Coward 27972246

"White privilege" is the liberal religion's version of Original Sin: you are born guilty, and you carry that burden of guilt all your life, and the only way to escape eternal damnation is for white people confess their sin, to bow, kneel and believe the dogma of the Church of Liberalism, genuflect at its altars, honor its saints, fill the collection plate, and never, ever doubt.

-- Dixon Diaz
Anonymous Coward
User ID: 4547295
United States
03/25/2013 09:58 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
...



Western nations, and for that fact most every other nation, shit canned the gold standard back in 1970. Money today is only backed by the promise of said nation to pay on demand. Nothing more... banks do not have gold to back fiat.
 Quoting: Anonymous Coward 1003364


So really we are just going about with money made out of paper with nearly worthless intrinsic value.
But wait it must have value, who assigns its value, and why do currencies change in value...

I know if we turn the banknote printers on that it dilutes the money supply and makes each note less valuable, i think that's called quantitative easing.

So if we collect millions of bank notes and burn them,, does that purify the money supply and make the rest of the notes go up in value??
 Quoting: Anonymous Coward 1546575


For the past 52 years from the first paper dollar I even had.. for the past 52 years that 'intrinsically worthless' paper has feed me, housed me, clothed, bathed me, watered me, feed and watered my horses, feed and watered my car, and has helped everyone I have ever spent that intrinsitically worthless paper to have much of them sorts of things. Yea.. you are right, that paper was so intrinistically worthless billions have lived with it their entire lives...

Hell, I even used this intrinsitcally worthless paper to buy a pair of gold wedding rings. The marriage has lasted, the rings are now paper thin and not worth as much as they once were.
 Quoting: Anonymous Coward 27972246


There's nothing of value in the paper itself but in your faith to believe that it's worth anything. When that illusion ends then you will realize that your nation was printing those pieces of paper not based on actual economic productivity but based upon their own whims, and then BAM! reality hits you hard brah.
 Quoting: Manu-Koelbren


Its not just you brah. Its an entire system namely bankers who agree and decide if any monetary substance has value or not. So far.
Bucephelus

User ID: 31518006
United States
03/25/2013 10:10 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
.

Its not just you brah. Its an entire system namely bankers who agree
and decide if any monetary substance has value or not. So far.

.
 Quoting: Anonymous Coward 4547295
.


NONE of this can be done if the Socialist rat-bastard POLITICIANS
don't allow it to happen!


.
Bucephelus
Ven
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United States
03/25/2013 10:12 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
How did the Russians get their money out if the banks were closed while the deal was being don and withdrawals were capped at 100 euros?
 Quoting: Anonymous Coward 287524


Reuters is reporting that branches of:

Bank of Cyprus
Laiki Bank

in London U.K. have remained open throughout the crisis with limits on withdrawals or transfers. The wealthy foreign depositors got their money out via methods like this, while only the peasants couldn't access their cash.

That was probably the plan all along.
Ven
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03/25/2013 10:14 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
^^^Oops I meant to say WITHOUT limits on withdrawals or transfers.
Manu-Koelbren

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03/25/2013 10:18 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
How did the Russians get their money out if the banks were closed while the deal was being don and withdrawals were capped at 100 euros?
 Quoting: Anonymous Coward 287524


Reuters is reporting that branches of:

Bank of Cyprus
Laiki Bank

in London U.K. have remained open throughout the crisis with limits on withdrawals or transfers. The wealthy foreign depositors got their money out via methods like this, while only the peasants couldn't access their cash.

That was probably the plan all along.
 Quoting: Ven 34446271


Merkel is saying she is glad those who contributed to the problem are paying up, she obviously means the peasants.
"White privilege" is the liberal religion's version of Original Sin: you are born guilty, and you carry that burden of guilt all your life, and the only way to escape eternal damnation is for white people confess their sin, to bow, kneel and believe the dogma of the Church of Liberalism, genuflect at its altars, honor its saints, fill the collection plate, and never, ever doubt.

-- Dixon Diaz
Anonymous Coward
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Bulgaria
03/25/2013 10:19 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
the euro and europe don't need to end just the banking system as we know it should END
 Quoting: Anonymous Coward 36784441


Not really, the EU is a huge problem even without the financial system. All the ridiculous rules and regulations are destroying the EU countries and are stripping down their sovereignity.
Anonymous Coward
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03/25/2013 10:27 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Beat them to the punch. Quit buying shit. Any shit. Starve the beast. It won't take long.
Anonymous Coward
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03/25/2013 10:28 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
I just got a letter from my hsa account

in 30 days i wont be able to transfer money from MY account WITHOUT thier PERMISSION


I DONT THINK THE BANKS CARE IF WE GET ANGRY
FreakObserver

User ID: 36846432
United States
03/25/2013 10:28 PM

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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
All this talk of space rocks and economic crisis, got me thinking of this passage from the Book of Revelation:


A new voice spoke from heaven; I heard it say, "Come out, my people, away from her, so that you do not share in her crimes and have the same plagues to bear. Her sins have reached up to heaven, and God has her crimes in mind: she is to be paid in her own coin. She must be paid double the amount she exacted. She is to have a doubly strong cup of her own mixture. Every one of her shows and orgies is to be matched by a torture or a grief. I am the queen on my throne, she says to herself, and I am no widow and shall never be in mourning. For that, within a single day, the plagues will fall on her: disease and mourning and famine. She will be burnt right up. The Lord God has condemned her, and he has great power."

There will be mourning and weeping for her by the kings of the earth who have fornicated with her and lived with her in luxury. They see the smoke as she burns, while they keep at a safe distance from fear of her agony. They will say:

"Mourn, mourn for this great city,
Babylon, so powerful a city,
doomed as you are within a single hour."

There will be weeping and distress over her among all the traders of the earth when there is nobody left to buy their cargoes of goods; their stocks of gold and silver, jewels and pearls, linen and purple and silks and scarlet; all the sandalwood, every piece in ivory or fine wood, in bronze or iron or marble; the cinnamon and spices, the myrrh and ointment and incense; wine, oil, flour and corn; their stocks of cattle, sheep, horses and chariots, their slaves, their human cargo.

"All the fruits you had set your hearts on have failed you; gone for ever, never to return, is your life of magnificence and ease."

The traders who had made a fortune out of her will be standing at a safe distance from fear of her agony, mourning and weeping. They will be saying:

"Mourn, mourn for this great city;
for all the linen and purple and scarlet that you wore,
for all your finery of gold and jewels and pearls;
your riches are all destroyed within a single hour"/

All the captains and seafaring men, sailors and all those who make a living from the sea will be keeping a safe distance, watching the smoke as she burns, and crying out, "Has there ever been a city as great as this!" They will throw dust on their heads and say, with tears and groans:

"Mourn, mourn for this great city
whose lavish living has made a fortune
for every owner of a sea-going ship;
ruined within a single hour."

"Now heaven, celebrate her downfall, and all you saints, apostles and prophets: God has given judgement for you against her."

Then a powerful angel picked up a boulder like a great millstone, and as he hurled it into the sea, he said, "That is how the great city of Babylon is going to be hurled down, never to be seen again.

Never again in you, Babylon,
will be heard the song of harpists and minstrels,
the music of flute and trumpet;
never again will craftsmen of every skill be found
or the sound of the mill be heard;
never again will shine the light of the lamp,
never again will be heard
the voices of bridegroom and bride.
Your traders were the princes of the earth,
all the nations were under your spell.

In her you will find the blood of prophets and saints, and all the blood that was ever shed on earth.
Anonymous Coward
User ID: 36886418
China
03/25/2013 10:38 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
Bank notes are simply receipts for your actual gold.

The bank is supposed to have the gold to back up all the money deposited with it.


 Quoting: Anonymous Coward 1546575

thats what it was supposed to be. If you have a 5 british pound note in your pocket, according to what it says on the note technically thats meant to be a receipt for five pounds in weight of sterling. If you took that note to the bank and asked to redeem it for your 5 pounds of sterling silver you're going to get laughed at aren't you.
Anonymous Coward
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03/25/2013 10:39 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
"The stealth withdrawals by Russians of course means that the two megabanks are now utterly drained of capital, and that the haircuts on those who still have unsecured deposits with the two banks will be so big it will likely mean a complete wipeout of all deposits. As in 0% recovery on your deposits!

In other words, by now any big Russian funds in Cyprus are long gone, and the only damage accrues to the locals: for one reason because their money over the critical EUR100K threshold has been "vaporized", and for another because the marginal driving force and loan demand creator in Cyprus, the Russians, are gone and are never coming back again.

This is what passes for monetary real-politik in the New Normal - an entire nation becomes collateral when pursuing a wealthy group of people.

If we were Cypriots at this point we would be angry. Very, very angry."


[link to www.zerohedge.com]
 Quoting: Anonymous Coward 1003364


I'm having a serious case of deja vu. Was this exact thread title used for something else in the past? I can't find it in search.
Anonymous Coward
User ID: 36882031
China
03/25/2013 10:54 PM
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Re: Cyprus Citizens - 100% deposits GONE - POOF, like a fart in the wind...
I think it is all wishful thinking on the part of OP.

There is no way that after the lockdown anyone could have secretly transferred anything.

The Russians criminals and corrupt leaders stashing away their stolen money in Cyprus are going to have to take that haircut with or without the theatrics.

Since it is all indirect protesting (ie; nobody is speaking out personally) we can safely assume that all that Russian money in Cyprus has blood on it.

And that bloodmoney is used to protect the normal Cypriote families from obliteration.

No matter how you look at it, when saner though prevail everybody will come to understand it is a good deal for Cyprus and good for the EU and the Euro.
 Quoting: NIMSTER 36882031


shill

Wrong, you don't cure an illness trying to alleviate the symptoms, you go to the root of the problem. How long until Cyprus needs another rescue? How much are you willing to indebt sovereign nations to the private bankers? This is merely a small dose of a tranquilizer for the pain, nothing else, the tumor is still growing and eventually if left alone it will kill its host.
 Quoting: Manu-Koelbren


For the next round of money down the bottomless pit we will go to Spain and Portugal.

It is just like Libia, Egypt and now Syria. the EU is just taking care of business. Along with Greece and Italy all of the leaches will be kicked out of the European Monetary Union. They can go back paying in Peso's, shells and Lires.

No matter how much money you dump on those countries, they will suck it up in no-time, party like no tomorrow and hold out their hands for more the next day.

What we are seeing is just the evolution of the Euro where only counties that work hard, have good financial management will be allowed to stay. The rest will just be allowed to leave when the depts are crushing them for the next 10 generations to pay back. It is simple really. Didn't see that coming ?

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