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Cyprus President To Rehn: "I Told You Tax Wouldn't Pass. Regards To Mrs Merkel"
Update: German chancellor, Cypriot president discussed Cyprus rescue, official says. Merkel told Anastasiades that Cyprus can negotiate on rescue package only with troika: official.
To say that the tensions within the European "Union" are getting unbearable would be an understatement.
First, courtesy of Reuters, we get a detailed narrative of what happened before this Saturday's announcement of a deposit levy, where we learn that the deposit confiscation was initially Joerg Asmussen's idea, and we also learn that Atanasiades stormed out in anger when he learned what was about to happen.
Under a promise which still appears on the website of the Central Bank of Cyprus, deposits in its banks are insured up to 100,000 euros. Cyprus has about 30 billion euros in insured deposits, a large amount for a country of just 1 million people.
But because of its status as an offshore financial hub for foreigners - including large numbers of rich Russians - it also has 38 billion euros in uninsured deposits in bigger accounts.
Cyprus could have offered full protection to those with insured deposits up to 100,000 euros and still reached the 5.8 billion euro target by taxing uninsured deposits at a rate above 15 percent
According to three sources, European Central Bank board member Joerg Asmussen and euro zone finance ministers' representative Thomas Wieser had worked on a plan that would require just that - a high levy on only uninsured deposits.
But when the plans were presented to Anastasiades, several participants said, he balked at any suggestion that uninsured depositors should pay more than 10 percent.
Since his limit meant uninsured depositors would pay no more than 3.8 billion euros, those with small savings would have to pony up the other 2 billion euros.
The meeting was contentious, participants say. Schaeuble, Dutch Finance Minister Jeroen Dijsselbloem and negotiators for the ECB, EU and International Monetary Fund broke off several times to talk separately with the Cypriots. Other ministers hung around in the corridors, playing games on their mobile phones.
In the early hours of Saturday morning, Dijsselbloem, who serves as head of the euro zone minister's group, proposed that uninsured depositors pay 12.5 percent, a level which would require insured depositors to pay only 3.5 percent or so.
Anastasiades stormed out of the meeting in anger. He returned only when senior negotiators told him that if he left, Cyprus would have to default and shut its banks altogether.
Finally he agreed to the levy, but insisted on capping the fee for uninsured depositors at no more than 9.9 percent.
Exhausted officials did the sums. To raise the other 2 billion, insured Cypriot depositors with small accounts would have to pay a 6.75 percent levy on their savings. The deal was done.
Turns out it wasn't. Moments ago Kathimerini reported what happened later today, after as we first reported it became clear that the Cypriot parliamentary majority had swung against the deal, and shows that the bad blood between the Cypriot leader and Germany's Merkel is now boiling:
Cypriot President Nicos Anastasiades held a telephone conversation with European Economic and Monetary Affairs Commissioner Olli Rehn on Monday night to inform him that there might not be enough parliamentary support for a deposit tax on the island.
Cypriot MPs were due to debate on Tuesday a tax on deposits but it looks like Anastasiades will not be able to get enough votes to approve the one-off levy, which was decided at Eurogroup meeting in the early hours of Saturday.
Anastasiades is also reported to have spoken to German MEP Elmar Brok, a member of Chancellor Angela Merkel’s CDU party who is close to the German leader.
According to Mega TV, Anastasiades is reported to have said to Rehn and Brok: “When I warned you that there would not be a parliamentary majority to pass the agreement, you didn’t want to listen. Give my regards to Mrs Merkel.”
We eagerly wait to hear back what message Frau Merkel has for the Cypriot leader now that the entire plan to punish Russian billionaires and generate political brownie points for Angie come September, while in the process using innocent Cypriot savers as collateral damage, is about to fall apart.
Incidentally, why is any of this happening? Because a few rich eurocrats have decided that this is what is "fair."
They know best...
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Exactly. There is no saving the banks now. They may have collapsed all of them in Greece, Italy and Spain too. People are not going to sit back and let it happen to them in their country. Now with the banks not opening for the week at this point the pain is going to be great to the people in Cyprus. I have no doubt the Greeks, Italians and Spanish are watching the events unfold carefully. They don't have flouride in the water as the U.S. does. They are not complaciant and will take steps to have their own money secure. The IMF and Eurozone commission has shown they don't give a flying F about the people now. They will do what it takes to save themselves, the Euro and the banks.
They have put the stake in the heart of the banks now.. It may not happen overnight but people are quietly but quickly getting their money out of the banks. They don't want to cause a ruckus, as they want to be the first and before the runs start en masse. It is happening, we just aren't seeing it in a furious pace.
I have followed this since it first appeared here in ZH. Now common sense dictates that once that news floated into the other Euro Zone countries, that in Italy, Spain etc that I would have seen pictures of long lines at the banks first thing. Have not seen or heard about any runs at any banks. Other than Cyprus who closed for a "holiday" the other banks in the other countries were open, WHAT, are these people just really stupid or are they stoned. Why, pray tell me, somebody, why no runs at any banks. It's beyond me to understand it.
Which would explain why the US people are so docile polite and peaceful, right? "Observational Evidence", look it up.
russians are arriving in cyprus airports with empty suitcases. (use translate)
"My husband came home from work from the airport, there is the following picture: planes from Russia driven by people with empty suitcases. They do not even hide, why they had come. Although the filling of these suitcases, if the ATM is empty?"
http://www.russiancyprus.info/viewtopic.php?f=42&t=30826&start=975#p472811
in english dammit, or some pictures, please.
I'd like to place a bet that the men with the empty suitcases, leave within the next week with full suitcases. Unfortunately, they tell me Intrade is no longer operating.
Fick Mich!!
"When I warned you that there would not be a parliamentary majority to pass the agreement, you didn’t want to listen. Give my regards to Mrs Merkel."
Either win for the People, or circus for the people - take from this what you will. :)
Democracy, bitchez
In this case it looks like the shit goes uphill.
Speaking of uphill - http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2013...
European & U.S. loans-to-deposits ratios by banks.
Check out Scandinavia, Italy, Spain, Cyprus is there too with "Popular".
Oops.
P.S. Can't happen here. /sarc
Looking at this the wrong way...... least consequential country in Europe to make an example out of.....
Cyprus.... At this point BUBBA will let it burn to the ground, tooo much riding on them not....... Merkel checks to the Cypriots..... They will pass the caca at 11:59 wednesday....
Least consequential? How are you measuring this?
People need to stop looking at all the stupid "money" sheets, nothing is meaningful, there is no rational measurement of anything happening there.
Europe NEEDS reasonably cheap energy. Where else in the entire area is That to be found? They're facing a bunch of really pissed off people in Cyprus (a witches brew) and telling them they have to pay up? They have no real military force? They, themselves, are BROKE? And meanwhile they have to keep paying out to Russia for energy?
No, you're right. Cyprus doesn't mean anything. That's why the Russians seem to have there fingers all over the place!
oops ?
Is Iceland the only country where the men have any balls?
Hear tell some of the gals do, too.
Er is that Thailand?
I get so confused....
So what, their trying to ban internet porn.
http://www.guardian.co.uk/commentisfree/2013/feb/26/iceland-internet-por...
Is it balls or brains that deserve the credit in Iceland. I guess it is some of both.
The cold-shriveled Icelandic balls are bigger than the balls and brains of these Euro bureaucrats.
yes
The women in Iceland sure don't but when I was watching those events in 2008 I saw that those demonstrating and rioting and carrying sticks and throwing rocks etc., seemed to be mostly female.
Fish balls, that would be FISH balls... (in case the kiddies are up reading this)
Don't the people who actually made the deposits get any say in all this?
Don't the people who EARNED and SAVED the money get a say?
How long can you keep raising the heat under this pressure cooker before it blows off?
I wish the people of Cyprus all the best; with the gang of criminals they've fallen in with, they will need all the luck in the world.
"Nightfall" is coming, anywhere those who lead think they own those they lead.
It's two wolves and another wolf deciding what's for dinner.......Cleptocracy at it's finest........
Bondholders have all the say in the world, and they sit right in the core of Europe - Lux, Swiss, Fr, Ger & the assorted pie.
They are the ones that need to take a God damn haircut - first & foremost.
It's against the law, and as it was stated earlier, they will fight to the death to maintain that status que, "because it was our money that built this place, and not yours" There it is, I said it for um.
It'll creep closer should the Russians win this battle.
Damn the haircut, how about a Colombian necktie ?
Hey, if you're dumb enough to save money in a bank, well, you can figure out what "unsecured creditor" and "government insured accounts" means when the time comes.
As always, stupid should hurt.
Agreed (and see now I am echoing poster below).
Actually "saving" your money in a bank is actually lending your money to that bank. Sometimes when you lend people money, they can't pay you back. Oops.
You should have been suspicious on day one when they essentially said to you: "Thanks for the loan. Just come back any day of the week and we'll repay you or anyone else on the spot."
Ha ha! Maybe the "people" can robo-sign everything back to themselves? Turnabout and all that...
They had their say. They said "hmm, I'm going to put my fiatskis in this here fractional-reserve depository institution, turning my asset into their liability, and making me a general unsecured creditor in the event the institution defaults." How much clearer can I say it? Put your money in the bank, and it may never come out. That is the nature of modern banks for 500 years. Where did this utterly delusional belief that banks are just colocated vaults come from, since they haven't been that for multiple centuries?
And why no constant outrage over the inflation tax? Or taxation in general? Why was Cyprus "fine" right up until it was suddenly "not fine"?
You know how I know the Cypriots, like the rest of us, are not serious people? They vote, rather than revolt. They use fiat rather than alternatives. They play the game. The only way to win is not to play the game.
Keep a small amount in your bank accounts,keep cash in your pocket and use some of that cash to buy PM's
So who leaves the Euro first? I'd been thinking Spain or Ireland when everyone else was saying Greece, I thought Italy while everyone else was saying Spain. Now everyone's saying Germany or Cyprus so should I pick Portugal? Or maybe Finland just to piss Olli Rehn off?
Italy!
Popcorn and beverages FiSHeS - not too close to the keyboard.
"Regards to Mrs. Merkel" = "Fuck off Angie, you are about to loose the next election."
Can someone explain to me why Germans are responsible for Russian money in Cyprus?
Russian mob money, or political funds have been placed there for' investment reasons'.
The reason the money is lost, is that the Germans let Greece "restructure" its bonds. As a result, the Russian deposits in the Cyprus Banks, which the banks invested into Greek bonds, has vanished. I think it would be hilarious if the Cyprus banks had taken out Credit Default Swaps on the Greek bonds, then not gotten paid.
Why not go BK, screw the Russian depositors that have over $100k EU and anyone else that is over the limit.
That is why they have a limit isn't it?
Yes...
Except you ever seen what some pissed off Russians do to people?
Gives new meaning to "fuck you up"
100K is the guarantee limit for gangsters and non-gangsters alike. Period.
I say let the Bankruptcy Angel fly around the planet and bless the firesale bidders.
But when the plans were presented to Anastasiades, several participants said, he balked at any suggestion that uninsured depositors should pay more than 10 percent.
So that fucker thinks its okay to steal, just a little less than 10%?
Fuck them all. Fuck them all to hell.
While I don't agree with any of this theft by the bankers, I can see the twisted logic of the bankers trying to steal 10% from the UNINSURED accounts. What I don't understand is why Anastasiades is willing to make himself a liar to his own people by going back on his word to not touch the saving accounts, especially giving preference to UNINSURED accounts over INSURED accounts. That just doesn't make any sense, and has turned this into a potentally full blown European bank run panic.
You could at least make the case that the depositers knew their accounts were uninsured over $100,000 and agreed to the moral hazard. But to steal from INSURED accounts was just throwing gas on a fire. Anastasiades can bitch at Merkel all he wants, but she was obviously just protecting herself politically by trying to reflect the mood of the German people who are tired of bailing out Southern Europe and getting nothing but a recession in return. The Russians must really have something on Anastasiades to force him to sacrifice his own people like that. Evil prick, but no suprise. Obama did the same thing with GM bond holders.
The Cypriots need to tell them to go fuck themselves. Let's get this party started.
If they do that, their banks will be short 15.8 billion instead of just 5.8 billion. Which, in turn, means they will be taking a bigger "haircut" on their deposits.
Silver Tightrope - Armageddon
https://www.youtube.com/watch?v=7I6nF5B7cAA
"Nigel Farage,... paging Mister Nigel Farage..."
His next floor show should be really something.
Popping corn.
I can say with 99.99% certainty that Mister Nigel Farage will have his say on this matter.
And in the background will be Manuel Barreloso, busy shuffling his papers and pretending to be pre-occupied with more important matters.
Fucking political pukes know no country allegience except the country storing their off-shore accounts. Hang 'em all and let God sort 'em out!
You wanted us to fuck over the Russian mobsters. We said no.
Now you want us to double down on fucking over the Russian mobsters.
Maybe you banksters are not in fact the brightest guys in the room.
We should have a pool on how long it will take the technocrats in Brussels piss their pants once the Russian "oligarchs" show up for their rubles--i'm thinking less than 60 seconds.
Some ECB, IMF, and other Eurpoean bankers and technocrats ending up dead with broken knee caps and crushed testicles would be reason to open a bottle of champagne paired with some fine Russian caviar.
It's the difference between having virtual and having PHYSICAL.
This should be quite telling (backing up the assertion as to what group has the power now):
http://www.vanityfair.com/society/2013/04/mysterious-residents-one-hyde-...
It's not that the banksters aren't bright, it's just that they have no ammo. The unicorn tricks, or the description of them, no longer feed, clothe or keep people warm. Sticking a make-believe gun to the heads of people these days just ain't going to go over... Something about losing confidence in the "system."
It's instructive to note that as of this past Saturday, Jeroen Dijsselbloem had also "declined to rule out taxes on depositors in countries beyond Cyprus,...."
Wake up Italy, Spain, Portugal, ...
Lesson # 1 in perpetrating a bank run.
just another opportunity to BTFD..this market can not be crashed.
Ice land you Cypidiots
The Cyprus government cannot print Euros to make depositors whole, so they cannot pull an Iceland.
I would take the ruble... could not be worse. Strike a deal with Vlad....
Banks all bust... debt default. Deposits changed to Rubles at current exchange rate.... move on. New banks formed.
Fuck the Bankers, EU and ECB....
Gotta a problem with that. Vald will be happy to listen and speak for us in these distressing times.... but he is still feeling 'Dangerous' after what you guys ordered on the weekend so I suggest you speak carefully. He's Russian, ex KGB and all, so talk to your internal Intel guys that you guys normally ignore.... they can fill you in.
Where is that damn cat? Gotta get it back into this bag...
Too late; somebody's getting a thrashing...
Up a tree perhaps??
Don't say that...I just had Chinese....Aaaakk, oh God, was that a hairball?
Too late, the cat had kittens.
That and the fact that Cyprus chooses to "play along". Power is in the hands of the person who's willing to say nein to the ponzi and at this point everyone's looking for the first move vs being the only one ostracized.
I guess this just goes to show you what idiots bankers are. When that burly Russian mafia guy shows up looking for his 10% he will not even ask. He will shoot you in the kneecap.
Do the bankers really think they are dealing with "reasonable" people?
Cars will blow up and folks will be found without heads.
This will be fun to watch.
"Do the bankers really think they are dealing with "reasonable" people?"
Have you heard the name Jamie Dimon before?
What's that saying? Oh, yeah, pot calling the kettle black...
Eurogroup to hold meeting to review new conditions. It has not been officially announced: http://www.europeanvoice.com/article/2013/march/finance-ministers-to-dis...
All currencies to parity, so they can establish the ''one to rules them all'' currency!!!.....
Weeeeeee.. (sounds of me shorting euro....)
Note to ECB and IMF. All easy money has been stolen. Now you have to be more creative. Cyprus is a cluster fvck. Very little thought was put into it.
you see mr. cyprus president, serves your govt right for selling your country out to begin with by joining the eu.......had you stayed with your own currency, you couldve just printed lots and lots and lots of cyprubucks and paid back your overlords....all wouldve been well and your people wouldnt be complaining about overt theft.........its alot easier to wake up and announce you are devaluing the currency without a parlimentary vote........................................
SCREW trying to scape a parliamentary majority together, there is clearly no public support for it.
They are meant to be a representative government of the Cyprus people, how about doing what Iceland did and asking the people what they want to do.
As Gerald Celente keeping saying over and over... ' let the people vote '.
http://www.euronews.com/news/you/#poll_1244
They only do that when they are confident the people will vote in the correct way.
http://www.activistpost.com/2013/03/electricity-as-currency-10-reasons-i...
If you were a Cypriot legislator, and had the choice of stealing 15% from the Russian mobsters, or of sticking it to Merkel and the ECB, which vote would give you the longest life expectancy?
Well, difficult, they all have an account I assume. And due to the idiots and political gangsters in Brussels they could be quite sure that a long position is a well placed bet. I am sure Mr. Rehn is long on Cyprus bonds. I do not think the French are in for saving these longs this time. I would say there will be a haircut. And I would say SocGen, BNP and CA are all short on Cyprus. They are not children to play around with. Sarris was very determinend.
I would stick it to Merkel.
The memory of tanks rolling into Georgia would be much more recent than Panzers in Poland.
It is very bearable, apart from the fact, that Mr. Rehn and some others will be filing for a bancrupcy very soon. Good old George wants to ignite EU rescue fever. They all have their money in Cyprus accounts. Unfortunatly the French have smelled it and anti bailout sentiment in Germany is growing. Either Soros will win again big time or he is finished.
"Incidentally, why is any of this happening? Because a few rich eurocrats have decided that this is what is "fair." They know best..."
"Fair" is a sharp guillotine blade.
<Sounds fair to me.>
Actually it's FAIR (an acronym).
Fuck All Ignoring Reason.
Ok! OK, I get it.
I'll let the raw steel blade sit in the rain a few days before using it, but no more. We don't want to be too fair.
Actually, the reason any of this is happening is because some moron of a banker thought it was a good idea to take Russian Mafia money, co-mingle it with his own countrymen's savings, and use it to speculate in Greek bonds. Wow.
I recall Alan Greenspan being astonished at banks' lack of self-preservation instincts, but this is incredible. What's next, buy Apple futures with laundered Los Zetas drug money?
Even egomaniac idiot Jon Corzine had enough sense to stick to fucking around re-hypothecating funds from powerless North Dakota wheat farmers.
And Corzine had sense enough to tip off the Koch brothers, so he didn't end up in an industrial vat of formaldehyde:
http://www.huffingtonpost.com/daniel-dicker/the-koch-brothers-and-mf-_b_...
"...But perhaps the most stunning piece of news we're getting in the wake of the MF Global collapse is in the clients of the firm who managed to get away scot-free, with no freezing of accounts or capital -- particularly the accounts of the mega-cap independent oil company Koch Industries, run by the politically active Koch brothers..."
What's the Russian for "Quelle surprise"?
It must be time for Merkel to wheel out the EU Fcukwit-In-Chief, one Manuel Barreloso, to utter his famous remarks: "The future of Europe is far too important to be left to democracy."
Where is an anarchist when you need 'em?
Has Walmart restocked ammo yet or are they still sold out?
sarc/ on
Now, why you gotta go equating the only peaceful political philosophy (non-aggression axiom) with chaos.
Realize all you've done is to help the banksters, who absolutely LOVE chaos. (sarc or NOT)
Local WalMart in San Diego North County is still sold out - Turners Outdoorsman had 4 boxes of .44 Magnum - I bought another box of 50 for $52 and left 3 boxes for others in need.
Where are the Anarchists? All around, stocking, prepping, and waiting out the Reichstag fire. All kinds of "grey men" with short hair, long hair, grey hair, no hair, all kinds of men you wouldn't suspect in a million years.
We grey men know what's happened and there will be hell to pay for the tyranny.
Mark On Cyprus
http://chartistfriendfrompittsburgh.blogspot.com/2013/03/mark-on-cyprus.html
Bloody excellent rant!! Spot on.
Dear ECB, YOU'RE FIRED!
Sincerely, The Donald
"Its a big shit sandwich and we all have to take a bite- Merkel" - ahhh,,no thanks, i'll just have an ice tea.
Waiting for first margin calls. Soros at least did his last bluff. Time works against him.
Big game of chicken here. Cyprus needs 13B euros (first installment, probably) from Europe to bail out the Cyprus banks. Otherwise the Cypriot banking system will probably collapse. If Cypriot banks collapse, it could trigger bank runs in other European countries. Each side has a gun pointed at the other guy's head.
It will be interesting to see who blinks.
But if Cyprus refuses the European terms, the Europeans can claim: "We were perfectly willing to bail out Cyprus. We just insisted on a haircut for uninsured deposits over 100K euros. The Cypriots refused those terms, so it is their own fault that their banks collapsed. And it doesn't mean that we wouldn't support insured deposits in banks of other countries." So my guess is that Merkel has her fingers crossed hoping that Cyprus refuses the bailout. Cyprus would then become an example for other countries of what happens when you defy the Troika.
Or the Russians might step in at the last minute and provide some money in exchange for bases or oil rights. Either way, the Europeans are off the hook.
It is not an equal game. There was no bank run today and there will be no bank run. Soros managed to raise a couple of protestors and the usal press campaign. Nothing that serious. Lean back, releax and enjoy.
I think you are mostly right Big Ben. I think the bankers realize they over reached big time. I suspect they will cave and forget the levy on the insured <100,000E deposits, but insist on the 9.9% levy on the uninsured over 100,000 deposits because I bet they have a gentlemen's agreement with Putin on that amount. Putin will just raise Nat Gas prices to Europe a few percent and make that up plus interest. I think the bankers know that is the best deal they can get, and they will do everything to get the Cyprus parliament to approve it. That deal would leave Cyrpus 2B euro short of the goal that Merkel wanted. So the IMF will find that in some slush fund, or beg it from the Bernak who can print that on one page, and you will never know about it. No way the bankers let this whole thing unravel over 2B euro.
I agree with the currents, but even IF they were to get past Cyprus they're, well, they're FUCKED. It really IS game over for the euro and the EU.
I don't believe that they can afford bail AND increased energy prices. And for the later, there is no way around the fact that this will come no matter. So, why even bother with the rest of it? Better in the short-term to just allow the EU to show that it won't tolerate (cough, cough) bailing out bad banks (any more). This would put the focus on Cyprus as the failure. Failure IS going to happen.
What does Merkel say? What any good kraut would say, BLITZKRIEG.
With what pray tell ?
Checked out the size of the Bundeswehr recently ? Thought not.
Who is pulling the strings on these puppets?
Are the really stupid enough to come up with this on their own?
The problem with criminal socialism is that eventually you run out of other criminals money.
Quote if Margret Thatcher had been born on Cyprus.
Without a bailout Cyprus will now default on bond payments.
Whatever that means.
I'm willing to let them, just to find out what that means.
Some people will lose a hell lot of money. Do you want names? Not too difficult to guess who they are. And some people will make a hell lot of money, also does not require too much imagination.
So I asked my bank today how much cash I could withdraw without the I.R.S. being notified.
They said: "I'm not sure what that amount is."
I said: "I've read that it is $10,000 or more, is that true."
They said: "I don't know."
Sure you don't know.
Going to have to do the two 16 oz. soda trick - two withdrawals a couple of weeks apart of $9,990 ($10 cushioin just in case).
PONZI!!!
I think it depends on whether they think your behavior is suspicious. And asking about I.R.S. limits is almost certainly one of the things they view as suspicious.
Congratulations! Now they have probably flagged your account so that even report your $40 ATM withdrawals will be reported to the I.R.S.
Good.
Fuck 'Em.
This is WAR.
Well it's every man his own ponzi.
Sorry, man - I wrote a check a few years back for $5,000 cash and they made me fill out paperwork. After that I found an ATM that seemed to have no limit on it. I pulled fairly large amount out every several days.
From a friend who's a mid-level Manager at one of the big banks; it's any amount, any reason, any time, and no, they don't have to tell you. Wrong amount, wrong look, wrong whatever, it's just (electronic) paperwork...
My reading says they are 'required' to report $10k in banking or casinos APD(aggregate per day), $5000 for security transactions APD, $2k for check cashing/money services APD, etc., etc.
http://www.ncua.gov/Legal/BSA/Pages/BSAReporting.aspx
The $10k amount triggers an automatic report. BUT, multiple transactions that are suspicious in nature can also trigger a report.
For example, you bring in $5k every day for a month--count on a visit.
There is no definition of suspicious.
And the teller of a bank not reporting suspicious transactions can be fined, personally, for such a failure.
Thank you Patriot Act. If you use cash...you are a terrorist.
"Thank you Patriot Act. If you use cash...you are a terrorist."
Unless you are a member of the club, like HSBC. Then you can finance Al Qaeda, Sinaloa, Iran, nuclear proliferation, any fucking thing you want, and collect your 10%.
The World is on notice that Insured Deposits in Banks may not be safe.
It does not matter what they do now.
In the back of everyones mind will be if their Money is Safe in the Bank. Just like the Depression. The people never trusted Banks and did not keep their Money in Banks.
Yep, my Money is in below the 23rd fence post in the field in a metal box.
If by the "World", you mean the <5% of the people who actually pay attention to this stuff. I bet >75% of the people in the Eurozone are not even aware of what is happening, let alone people in America or China.
If reports come in of several thousand t-90's heading for the Fulda Gap, we should assume the Russians aint 'bailing-in'.
Fulda gap does not exist any longer. The border is much closer towards Moscow these days.
right, so that means they've already penetrated at that point.
Better to die on your feet with your countrymen, rather than live on your knees...and die slowly, disgraced, ruined, traitorous.
Death comes, slowly or quickly.
On a long enough timeline, the survival rate for everyone drops to zero.
The Russian mob are going to kill anyone that gets in its way. Cypriot politicians are stuck between the EUSSR threats, and the Russian mob. Both gangster banksters, using Cyprus, killing Cypriots.
This is the moment for Russian patriot Putin to exert his influence, and become an independent leader in world affairs, beyond his borders.
The soldier loves liberty, gives his heart and soul to it.
The career politicians and gangster banksters abuse liberty, for their profit.
Anyone who stole from the former Soviet Union or seeks to do so should pay with THEIR money, now.
Cyprus has gas. Want a bail out with Russian money? Pay for it. Realpolitik.
Zionists: you have a problem of your EUSSR making.
If they needed money why didn't they call Bernanke. That lunatic would have printed them up whatever and then some.
Bernanke can not print to give away. He would have to ask something in return (junkie bond promises would not fly i guess)
I e-mailed the Sunday articles to a friend and he is going to take Money out of his account in America. Just to be safe. He said that this news was scarry. I happen to agree with him.
He could not believe that they could arbritarily come in and just take a portion of your savings. Without a hearing or any warning.
The distrust for Government, Euro Nations etc., is becoming a problem for the Banking elite. People are afraid. They are afraid of what their Government is going to take from them without any concern for private property protections. Even here in America.
I had to visit 4 branches here in the USA to get the cash I wanted out on Saturday afternoon.
Very entertaining and informative.
Branch 1: nervous kid manager - says they don't have that much. I say "I don't understand. I put my money in the bank for safe keeping. Now I want it, and you don't have it?" Explanations about limiting risk in the branch vault. I say "Ok, where do I need to go to get it?" Answer "There is nowhere". "Do you really have it?" "Oh yes." "Well, how much can you give me?" I look at customer next to me ... Got 20% of the money.
Branch 2 : got another 30% - much more professional
Branch 3 : complete joke. teller blurts out you want HOW MUCH?. Phone call to somebody results in answer "We can't give you any of it." I say "Zero? Really? Not much of a bank, is it." Somehow I wind up getting another 30%.
Branch 4 : seeing prior transactions, teller "warns" me that transaction will be traced. Also "warns" me that some of it will have to be in 20's. I say ok, I can deal with that. Got last 20%.
Then I went and bought a Hyundai.
here in europe if you need a larger amount you call the bank in advance (usually one or two days) and they deliver the money at the agreed time
Or bank bonds backed by natgas reserves...
Clearly, the answer is to drop the Euro and declare bitcoin the official currency of Cyprus, post haste.
Do I have to spell everything out for yuz?
edit: as if to respond to your junk, it just shot to $52.
And how, exactly, does an insolvant banking system in an insolvant country make the switch to bitcoin? Trade natural gas exploration rights for BTC?
Or dump the Euro and make the rouble the official currency. Bitchez
Better to take any savings you have and pay down debt. Especially Mortgage Debt. That way when they come for your Money at least you have a tangable asset without a hair cut.
The can fix that in a hurry. 1,000% increase in your property tax, due tomorrow...
We are picking up speed.
Shame on moneychangers.
You think you will profit, but you do not know the honest patriots of Russia, Americas, China and other places.
Shame on you.
Nationalism is good, honest. Nations with honest leaders can negotiate with other nations on behalf of their people, rather than be debt slaves to international financiers who have no loyalty to any nation, and seek a one world order, a dystopia. Disrespect for all. Money for the few money changers.
Yeah, right, national leaders are loyal.
The EU Way: just make them keep voting until they get it right.
Hence, QE infinity
Australian stocks up ~27 after half an hour ... looked at the local media yesterday evening and the massive furball in Europe is bearly being mentioned ... weeee
Paper burns fastest. Enjoy your illusion.
The illusion is yours, I don't have any paper.
wee wee... you.
Nikkei up 2.07%. We are missing out again!
It looks like yesterday "crash" was all the correction that was needed for another multi-week rally.
Some of these clowns will end up vanishing or having nasty accidents pretty soon, the Russian mafia don't fuck about.
Odd that you think the Russian mafia will prevail. It is more likely that Putin will prevail. Your problem, pet.
Both will prevail as they are one and the same.
http://www.guardian.co.uk/world/2010/dec/01/wikileaks-cables-russia-mafi...
http://www.telegraph.co.uk/news/worldnews/vladimir-putin/9100388/Vladimi...
Putin did deals with the oligarchy after drunk Yeltsin sold off the resources of the former Soviet Union to gangster bankster zionists who used Cyprus for their money laundering, against all recognised law.
Putin is a patriot, not a zionist. Don't bet your money against him.
The KGB knows how to deal with traitors. Understand this:
Rootless cosmopolitans believe in money 24/7, and they don't care how many people they ruin to get their filthy lucre.
Agreed. Putin never would have guessed that he would be talking to the president of Cyprus.
Not only him but any children or grandchildren could be at risk in the next 12 months or less.
As Jean-Claude Junckerovsky said, "When it gets serious, you have to die."
Looks like there's going to be a few more Russian gentlemen walking around with "Bulgarian umbrellas" in the streets of Europe...
Vladimir theGreat will me most pleased to protect the interests of Russian investors and help them to bring back their money to the save haven which is mother Russia and its fair tax regime.
is it time to talk euro exit? anyone over there come to their senses yet?
debt servitude to the money masters - fucking weak people...
afraid of suited banker- fucking weasels.
wouldn't be pretty around here...
Fuck off, 2008 was 5 years ago and Wall St is still paying record wages.
Meanwhile the rest of you eat shit and die.
Don't see ANY protests at the doors of the Fed, NOT ONE EVER.
Patriot act and other related acts limit protests. Limit, very severely if POTUS or congressmen are in any building or property like the FED.
.
Yes, its time for the Euro to exit the f&^%ing dollar as we (the fed) pumped in 100 billion last wk to Euro Banks based in the US.