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Cyprus Now Set To Vote Against Bailout, Ruling Party To Abstain Guaranteeing Failure To Ratify "Bail-In"

Tyler Durden's picture





 

It appears that Cyprus is now ready to escalate, following news now coming fast and furious, that the Parliament will go ahead and vote after all, but not in a good way as even the Cypriot ruling party, formerly the only party willing to vote Yes on the Bail-In, would abstain according to Dow Jones, which means there is no support at all in the Cypriot parliament for the deposit haircut proposal.

We can only pray that Bob Pisani explains what happens next because neither we, nor anyone else, has any idea what comes now.

 


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Tue, 03/19/2013 - 11:57 | Link to Comment NoDebt
NoDebt's picture

Ludicrous speed!

Tue, 03/19/2013 - 11:58 | Link to Comment aint no fortuna...
aint no fortunate son's picture

there goes the VIX...

Tue, 03/19/2013 - 12:02 | Link to Comment Stackers
Stackers's picture

They've gone plaid !!!

Tue, 03/19/2013 - 12:07 | Link to Comment fx
fx's picture

I know waht's next! Merkel and the EU will fold for the umpteenth time and shell out some additional billion EUR in soon-to-be worthless paper money. Then the banks open and a bank run ensues. Next thing you know, cyprus needs another bail-out - 2 times as large as the first one. EU demands haircuts by cyprus - Cyprus refuses and burns the German embassy - EU backs off ... you get the point.

Tue, 03/19/2013 - 12:21 | Link to Comment BaBaBouy
BaBaBouy's picture

Gee, Does It Look Like Banking System Is Corrupt And Fraudulent ???

Who Woulda Thunk It ???

Ben Chalom, Please Print Up A New Batch Of USD Fiats And Keep The Good Shit Going...

Tue, 03/19/2013 - 12:27 | Link to Comment BaBaBouy
BaBaBouy's picture

And Germany ...

You Should Be Worrying More About Getting All Your Tungsten...er GOLD Back From The NYC FED Underground Sinkhole...

Tue, 03/19/2013 - 12:15 | Link to Comment DoChenRollingBearing
DoChenRollingBearing's picture

Bank runs...  Maybe it is all deliberate?

lhmarketwatch.blogspot.com

A take I have not seen yet.  Three guesses whose blog that is...

Tue, 03/19/2013 - 12:19 | Link to Comment McMolotov
McMolotov's picture

Makes a lot of sense, especially the "cashless society" part.

Tue, 03/19/2013 - 13:45 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

Well one thing's for certain and it gives me solace.

If we can only get past this Cyprus-Crisis then we will only have to deal with a U.S.-China-Russia-N.Korea-Europe-Japan-Africa-Venezuela-Greece-Spain-Italy and Portugal crisis.

So things are looking up after this ordeal.

Tue, 03/19/2013 - 14:18 | Link to Comment akak
akak's picture

You're forgetting about the time-traveling US 'american' citizenism-Easter Island crisis.

It's the mattering thing.  The crustiest bit of the nub of it.

Tue, 03/19/2013 - 18:56 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

US citizenism 'american' duplicity exhibited.

Would be more accurate to tell US 'american' citizens should brush up your walrasian economics to understand you definitively dont need an increase in lutefisk to face a durian consumption issue.

Signed: AnAnonymous

Tue, 03/19/2013 - 19:00 | Link to Comment akak
akak's picture

I've been waiting for our George Dishwashington citizenism citizen to pop in and explain to us how the banking crisis in Cyprus, and its EU-British-Russian-Turkish-Greek complications, is all just another sordid manifestation of blobbing-up US 'american' citizenism.

Tue, 03/19/2013 - 19:09 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

George Dishwashington citizenism citizen probably still fishing for river pigs. There's no bag limit when they're in season.

Wed, 03/20/2013 - 04:41 | Link to Comment Lets Buy The Dip
Lets Buy The Dip's picture

yes amen to that! hey!

cypress bank run - is there a cypress bank run coming

I think we can all get ready for something big. 

WHY?

Well, just for a minute picture this. Cypress is small, and when the government are plannning something BIG, and I mean BIG, they always test small scale and need the test lab rats, and I think the people in cypress are exactly that. 

Call me wrong if you want, but do not be surprised when this does happen in the US, because it will. Do not get angry at ben bernanke, he is just doing what he is told. Those evil at the top and good old benny boy know exactly what they are doing, that is for sure. 

Tue, 03/19/2013 - 12:21 | Link to Comment Slartebartfast
Slartebartfast's picture

Missing key data.  Current bailout estimates are propaganda lies.  EU cannot bail out Cypress banks because they hold more than 100x greater deposits than admitted (Russian deposits).  This is genuine rock and a hard place time.....

Tue, 03/19/2013 - 12:38 | Link to Comment Things that go bump
Things that go bump's picture

Source?

Tue, 03/19/2013 - 12:52 | Link to Comment Element
Element's picture

He's most probably referring to the KingWorld News report of the Jim Sinclair interview today that said "orders of magnetudes" (as in more than one) higher amounts than just 130 billion.

No number were given to support that though.

Tue, 03/19/2013 - 12:23 | Link to Comment smlbizman
smlbizman's picture

i said it from the beginning....when they get done, losing 10% will look like such a deal...

cause as of now....the locks on the doors have been changed and the banks are going to re-open as starbucks...

i definetly expect  cyp-riots to be the start of a new "arab spring"....

Tue, 03/19/2013 - 12:57 | Link to Comment F22
F22's picture

+1 for cyp-riots

Tue, 03/19/2013 - 12:28 | Link to Comment shovelhead
shovelhead's picture

Mutti's nien turns to whine?

I'll buy that.

Tue, 03/19/2013 - 13:21 | Link to Comment Buck Johnson
Buck Johnson's picture

Thats exactly what will happen.  You see they keep saying that Cyprus is a nothing and whatever happens there won't effect the EU.  But if that is the case then why are they so concerened.  It's because if their banks fail then those bonds and derivatives on those bonds will have failed and the insurance on those bonds and derivatives will have to pay.  And since like all the other banks in the EU and the US who have been leveraged, that 4 to 8 billion dollars could easily be 100 billion or more and that would have to be paid in full by insurance.  And not to mention that those bonds and derivatives are in default which starts a chain reaction of other banks and countries who have exposure to the country.

Tue, 03/19/2013 - 12:07 | Link to Comment THX 1178
THX 1178's picture

I'm white in the face. Soon everyone'll be seeing red.

Tue, 03/19/2013 - 12:43 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

Shit.   Looks like even New Zealanders now are abandoning their sheep for richer pastures.   I bet their goats are breathing a sigh of relief.

http://www.scoop.co.nz/stories/PA1303/S00306/national-planning-cyprus-style-solution-for-new-zealand.htm

Tue, 03/19/2013 - 13:42 | Link to Comment hampsterwheel
hampsterwheel's picture

...... when they sat back and took an objective look at the fact that they were basically ripping off X-KGB officers - that just didn't seem like a prudent move - after all food tasters and remote car starters are expensive -

 

Tue, 03/19/2013 - 12:00 | Link to Comment The Juggernaut
The Juggernaut's picture

I sincerely hope the EU collapses today.

Tue, 03/19/2013 - 12:02 | Link to Comment gjp
gjp's picture

That would only please me if it is very quickly followed by the demise of the US dollar and the insanely abused 'exorbitant privilige'.

The Europeans had one thing right, that the anglo-US financial system was basically criminal and extortionary.  Their mistake was to try to get in on the action.

Tue, 03/19/2013 - 12:59 | Link to Comment DaveyJones
DaveyJones's picture

as long as you're sincere

"the Parliament will go ahead and vote after all, but not in a good way"

that's a theme will be hearing more and more

Tue, 03/19/2013 - 12:11 | Link to Comment Randall Cabot
Randall Cabot's picture

March 19, 2013, 12:05 p.m. EDT

Investors shouldn't fear Cyprus or the Fed

Investors are making excuses to take some profits from the stock market's recent highs, says David Straus of Johnston Lemon Asset Management. One is Cyprus, the other, the Federal Reserve.

 

 

 

 

http://www.marketwatch.com/story/investors-shouldnt-fear-cyprus-or-the-fed-2013-03-19   

Tue, 03/19/2013 - 12:10 | Link to Comment McMolotov
McMolotov's picture

ZH is providing a great service to its readers. You can't find this level of coverage anywhere else. In ye olden days, news like this would spread over the course of weeks or even months. We're watching it all happen in real-time.

Thanks to the Tylers for doing what the rest of the castrated media are too afraid to do.

Tue, 03/19/2013 - 12:19 | Link to Comment BadKiTTy
BadKiTTy's picture

Here here!!! 

 

This is my go-to place - nothing comes close.  

 

K@ 

Tue, 03/19/2013 - 12:19 | Link to Comment BadKiTTy
BadKiTTy's picture

Here here!!! 

 

This is my go-to place - nothing comes close.  

 

K@ 

Tue, 03/19/2013 - 12:19 | Link to Comment BadKiTTy
BadKiTTy's picture

Here here!!! 

 

This is my go-to place - nothing comes close.  

 

K@ 

Tue, 03/19/2013 - 12:27 | Link to Comment justinius1969
justinius1969's picture

HERE... HERE.... Lets take all the ZH boys and Gals down the pub and have one mighty piss up..

Tue, 03/19/2013 - 12:52 | Link to Comment The Big Ching-aso
The Big Ching-aso's picture

My achy-breaky heart goes out to Cyprus.    As for their Cypriot-Idiot parliament have you thought about offering your services at no cost to the Zimbabwe government?   I mean it's better than them paying salaries for their existing one.

Tue, 03/19/2013 - 12:57 | Link to Comment Jugdish
Jugdish's picture

 Still recovering from St. Patrick's day. Irish Car bombs never again.

Tue, 03/19/2013 - 13:29 | Link to Comment mick_richfield
mick_richfield's picture

Hear, hear!  Here, here.

Tue, 03/19/2013 - 13:40 | Link to Comment void_ptr
void_ptr's picture

Hear hear!

PS short for Hear him, hear him!

Tue, 03/19/2013 - 17:19 | Link to Comment misitu
misitu's picture

Would just like to repeat that, hearty thanks to ZH for this coverage. Other sources are a day or three behind. Well done and much appreciated: to the Tylers and your Contributors.

Just my S/.0.20

Sunny here, and g o l d in the hills just behind ...

Tue, 03/19/2013 - 12:13 | Link to Comment machineh
machineh's picture

Wouldn't it be ironic -- and poetic -- if one of the EZ's pipsqueak members bought the whole house of cards crashing down?

A monarch butterfly flaps its wings in Limassol, and the ECB crumbles to the ground in Frankfurt.

OPERATIC!

Tue, 03/19/2013 - 13:30 | Link to Comment asteroids
asteroids's picture

Cyprus is having their "Iceland" moment. Good for them!

Tue, 03/19/2013 - 11:57 | Link to Comment Awakened Sheeple
Awakened Sheeple's picture

Bullish for bank runs

Tue, 03/19/2013 - 12:03 | Link to Comment peter4805
peter4805's picture

Bullish mattresses.

Tue, 03/19/2013 - 12:07 | Link to Comment DaveyJones
DaveyJones's picture

bullish for bull runs and bullshit

bearish for china shops

Tue, 03/19/2013 - 12:08 | Link to Comment kaa1016
kaa1016's picture

It's funny listening to all of those long only types on CNBS try to convince people that this is no big deal and why you should keep buying. Come on Josh Brown, the next move higher. I hope you're talking about the VIX. Fucking retards. BTW, last day of trading for March VIX calls for those interested... 

Tue, 03/19/2013 - 11:58 | Link to Comment OptionNinjaNYC
OptionNinjaNYC's picture

You know what they say back in Germany:

When a Goat Fucks a Monkey, the Monkey screams Meow !!!

Unleash the BEARS....

 

http://wallstreetfool.com/

Tue, 03/19/2013 - 12:09 | Link to Comment pods
pods's picture

Die Kacke ist am dampfen.

pods

Tue, 03/19/2013 - 12:39 | Link to Comment farmerjohn2112
farmerjohn2112's picture

Nice...

Tue, 03/19/2013 - 16:13 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

and fitting German metaphor.

Tue, 03/19/2013 - 11:58 | Link to Comment Truther
Truther's picture

IT'S WAR BITCHEZ

 

RUN BABY RUN....

Tue, 03/19/2013 - 11:58 | Link to Comment Cdad
Cdad's picture

"The important thing is...it is unclear whether or not the seething ex KGB Russian oligarchs, currently on inbound flights to Cyprus, are armed or not, or whether they intend to obeserve bank holiday hours."  B Pisani  

Tue, 03/19/2013 - 12:04 | Link to Comment insanelysane
insanelysane's picture

Like I commented yesterday, mafias do not let their ill booten gotty get confiscated without someone paying the price.  Plan B, save the small guy and take more from the mafia wasn't going to go well.

Politicians choice: get stomped to death by the masses cause you can't drone them all or get blown up when you hop in your car in the morning.

Tue, 03/19/2013 - 12:07 | Link to Comment Key-Rick
Key-Rick's picture

+1 for the esoteric M*A*S*H reference.

Tue, 03/19/2013 - 13:06 | Link to Comment new game
new game's picture

boris has arrived and getting shit straightened out.

the prez fully understands these overlooked concerns.

the fuckin wessel scurries to his next meeting.

sucks to be broke...

 

 

 

Tue, 03/19/2013 - 12:05 | Link to Comment McMolotov
McMolotov's picture

Perhaps the mobsters can be pacified with Spiderman towels.

Tue, 03/19/2013 - 12:41 | Link to Comment AngryRed
AngryRed's picture

Best comment yet Cdad.

Tue, 03/19/2013 - 11:58 | Link to Comment azzhatter
azzhatter's picture

Pissani just wets himself

Tue, 03/19/2013 - 11:59 | Link to Comment Racer
Racer's picture

Ooops

Cypriots going to do an Iceland? Go for IT!

Tue, 03/19/2013 - 12:12 | Link to Comment DaveyJones
DaveyJones's picture

we all need to put the big bankers on ice

Tue, 03/19/2013 - 12:17 | Link to Comment Piranhanoia
Piranhanoia's picture

Why waste ice?

Tue, 03/19/2013 - 12:56 | Link to Comment DaveyJones
DaveyJones's picture

I thought we'd cryogenically freeze some in case (actually when) we forget again and let them run amuck, then we'd thaw one out, remind ourselves and stop.  

Tue, 03/19/2013 - 12:00 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

We shall see just how far the EU will go to protect the Euro now. If it escalates to military intervention we may just be seeing this centuries Archduke Ferdinand moment here.

Tue, 03/19/2013 - 12:09 | Link to Comment Headbanger
Headbanger's picture

Good thinh the TSA bought all the ammo..   Oh wait..

Tue, 03/19/2013 - 12:23 | Link to Comment pods
pods's picture

.338 >.223.

pods

Tue, 03/19/2013 - 12:32 | Link to Comment LawsofPhysics
LawsofPhysics's picture

Good thing many of us can modify the uppers and lowers to run either round.

Tue, 03/19/2013 - 16:18 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

308 sides of the Force I like.

Tue, 03/19/2013 - 13:44 | Link to Comment 20-20 Hindsight
20-20 Hindsight's picture

+10

The "Archduke" moment is indeed the first thing that came to mind when this story broke on ZH Saturday, March 16th, i.e. way before all the MSM whores finally caught up yesterday.  

IMF, ECB, Fed, bullshit Troika... Frau Merkel... you bunch of fuck-ups... this time you crossed the line!  Let the games begin, please.

Tue, 03/19/2013 - 12:01 | Link to Comment insanelysane
insanelysane's picture

But, but, but, something bad will happen if we don't take all of the depositors money.

Tue, 03/19/2013 - 12:03 | Link to Comment nonclaim
nonclaim's picture

Technocrats have run out of knobs to turn and buttons to push... and a spring has just popped out.

Tue, 03/19/2013 - 12:06 | Link to Comment NoDebt
NoDebt's picture

Not yet.  Just that the buttons and knobs left are ones they don't want to touch.

Remember- DO THE RIGHT THING ONLY AFTER ALL OTHER OPTIONS HAVE BEEN EXHAUSTED.

That phrase hangs on my wall as a reminder.  Of what, I have no idea, but it's a reminder.

Tue, 03/19/2013 - 12:12 | Link to Comment TheFourthStooge-ing
TheFourthStooge-ing's picture

.

Not yet.  Just that the buttons and knobs left are ones they don't want to touch.

They're the buttons and knobs sealed with a label stating that breaking the seal voids all warranties.

Tue, 03/19/2013 - 14:23 | Link to Comment akak
akak's picture

"THIS LABEL NOT TO BE REMOVED UNDER PENALTY OF LAW"

Tue, 03/19/2013 - 12:38 | Link to Comment dracos_ghost
dracos_ghost's picture

And it's these Little Lord Fauntleroy's that are the cream of the intellectual crop of the ruling class?!

Don't ya know, you never go full retard. Just ask Sean Penn.

http://www.youtube.com/watch?feature=player_detailpage&v=X6WHBO_Qc-Q#t=117s

Tue, 03/19/2013 - 14:05 | Link to Comment Diogenes
Diogenes's picture

"Technocrats have run out of knobs to turn and buttons to push... and a spring has just popped out."

 

You mean the rod is sticking out of the block on the Fiat.

Tue, 03/19/2013 - 12:01 | Link to Comment DrDinkus
DrDinkus's picture

did ZH website just go down due to traffic? the sheep are seeing the light

Tue, 03/19/2013 - 12:04 | Link to Comment McMolotov
McMolotov's picture

Yes, at least for me. There's nowhere else to hear about this shit! Where's the rest of the fucking media???

Tue, 03/19/2013 - 12:09 | Link to Comment DaveyJones
DaveyJones's picture

in the backroom saying yes sir

Tue, 03/19/2013 - 12:11 | Link to Comment NoDebt
NoDebt's picture

A minimum of 2 hours behind.

Tue, 03/19/2013 - 12:30 | Link to Comment little buddy bu...
little buddy buys the dips's picture

what media? there ain't much else. this is about it, isn't it?

 

i mean, unless you're wanting the latest on lindsay lohan or the kardashians. you mean that media? yahoo has a sneak peak at the next hobbit movie and all the latest on lil wayne.

 

while not paying any attention to that media, i found some fool on craig's list selling silver eagles for $31. 

Tue, 03/19/2013 - 12:14 | Link to Comment ziggy59
ziggy59's picture

I suspected worse...

Tue, 03/19/2013 - 12:24 | Link to Comment McMolotov
McMolotov's picture

178.209.48.13

178.209.48.14

Just in case...

Tue, 03/19/2013 - 15:20 | Link to Comment ziggy59
ziggy59's picture

Ty

Tue, 03/19/2013 - 12:02 | Link to Comment Jim B
Jim B's picture

Good!  If the banks need to be put into bankruptcy... so be it.

Tue, 03/19/2013 - 12:04 | Link to Comment Yes We Can. But...
Yes We Can. But Lets Not.'s picture

yeah, the world needs to put the bank back in bankruptcy....

Tue, 03/19/2013 - 12:03 | Link to Comment DavidC
DavidC's picture

Go Cyprus!

DavidC

Tue, 03/19/2013 - 12:04 | Link to Comment Dr. Engali
Dr. Engali's picture

Damn that Cyprus .... Obama had this economy all fixed and now this. Time to send in a few drones and help the politicians better understand which way they will be voting.

Tue, 03/19/2013 - 12:20 | Link to Comment DaveyJones
DaveyJones's picture

if we would just keep voting each alternative party in every time things fuck up more, I'm sure that would fix it

Tue, 03/19/2013 - 12:47 | Link to Comment Things that go bump
Things that go bump's picture

There are no Republicans or Democrats; only Zool. The politician you vote for is only the face worn by those unelected figures who actually make the decisions.

Tue, 03/19/2013 - 16:29 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

But don't WE have a fine bunch of... politicians in the Land of the Free and home of...? Not!!!

Tue, 03/19/2013 - 12:04 | Link to Comment SilverDoctors
SilverDoctors's picture

Meanwhile, depositor haircut bail-ins spreads to New Zealand!

http://www.silverdoctors.com/contagion-depositor-haircut-bail-ins-spread...

Gov't reportedly pursuing depositor haircuts for any future bank failures!

Tue, 03/19/2013 - 12:15 | Link to Comment akarc
akarc's picture

The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts, the Green Party said today.

"Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.

“Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand – a solution that will see small depositors lose some of their savings to fund big bank bailouts,” said Green Party Co-leader Dr Russel Norman"

From the above link

Tue, 03/19/2013 - 12:15 | Link to Comment machineh
machineh's picture

Cyprus knows exactly what to do:

 

1. Redenominate bank liabilities into Cypriot pounds.

2. DEFAULT on external debt, including that owed to ECB. Later, offer them 30 cents on the euro ... converted to Cypriot pounds at the prevailing exchange rate.

3. Boom its ass off for the next ten years, while the PIIGS remain in depression ... unless they follow the Cypriot example.

FREE YOUR EUROS, FREE YOUR MINDS!

Tue, 03/19/2013 - 12:25 | Link to Comment NoWayJose
NoWayJose's picture

Here's to hoping they do it! Guarantee depositors but screw EU debt holders and foreign banks!

Tue, 03/19/2013 - 12:04 | Link to Comment Al Huxley
Al Huxley's picture

So they vote against the 'bail in' and the banks collapse.  Sorry depositors, you're all fucked, no matter how this goes.  Bail in, you lose 3 - 10+% immediately, and then unless you're one of the lucky 'first in liners' whenever the banks re-open, you lose the rest as the flaws of fractional reserve banking are exposed and the banks fail in a bank-run.  Or alternatively, the banks all fail now because there is no 'bail-in' and never re-open, and you just lose 100% immediately.  No win here.

Tue, 03/19/2013 - 12:08 | Link to Comment ejmoosa
ejmoosa's picture

This is what happens when you keep kicking the can down the road.  You WILL run out of road.

Anyone in DC paying attention?

Didn't think so.

Tue, 03/19/2013 - 13:07 | Link to Comment blu
blu's picture

"Anyone in DC paying attention?"

You bet they are.

This is news they were not able to control. People in the US won't know what it means, but they'll watch the Cypriots take it in the ass and suddenly realize that your money in a bank is not your money anymore, but the bank's money.

If as a result Americans pull out an average $5,000 per household (114,000,000 households according to the last census) the outflow comes to $570B

Oh yeah -- they are paying attention.

Tue, 03/19/2013 - 13:22 | Link to Comment new game
new game's picture

just thinking the same

i think we know what to do.

Tue, 03/19/2013 - 12:06 | Link to Comment ZeroPoint
ZeroPoint's picture

They have created a Kobayashi Maru. The only way to stop a bank run is abandon the levy. If they abandon the levy, the banks collapse and depostors could lose everything, which will sieze up the credit markets and create more bank runs.

 

 

 

 

Tue, 03/19/2013 - 12:12 | Link to Comment Headbanger
Headbanger's picture

Live long and prosper but get your cash out first!

Tue, 03/19/2013 - 12:35 | Link to Comment terryfuckwit
terryfuckwit's picture

This is great craic altogether....... A choice between bank runs bank runs or bank runs.......can anyone suggest an alternative to money in the bank lol

Tue, 03/19/2013 - 12:06 | Link to Comment ebworthen
ebworthen's picture

Doesn't matter what happens, Bob Piss-ant-i will say it's bullish for equities.

Politicians and banks stealing depositor's money; "Nothing to see hear, buy stawks!".

Tue, 03/19/2013 - 12:06 | Link to Comment Mediocritas
Mediocritas's picture

I predict that there will be a meeting in Brussels about the crisis and that at this meeting they will agree to have more meetings about the crisis and that this process will recurse until there is a stack overflow and everyone forgets what the crisis even was. That's Europe!

Tue, 03/19/2013 - 12:55 | Link to Comment Element
Element's picture

<nods> fluoride in the crumpets ;-)

Tue, 03/19/2013 - 12:06 | Link to Comment aka Gil
aka Gil's picture

Are we seeing some short covering in the paper gold market yet?

Tue, 03/19/2013 - 12:06 | Link to Comment Racer
Racer's picture

PPT to ChairSatan

I cannae hold her any longer Cap'n

Tue, 03/19/2013 - 12:07 | Link to Comment Hughing
Hughing's picture

Bullish for Cyrpus rentals

Tue, 03/19/2013 - 12:07 | Link to Comment squid virtuous
squid virtuous's picture

Send Pisani to Cyprus in one of his Armani suits... for some chats with the folks

Tue, 03/19/2013 - 12:09 | Link to Comment yogibear
yogibear's picture

CNBS's Pis-on-me is just another Wall Street mouth piece. Feed him to the sharks.

Tue, 03/19/2013 - 12:20 | Link to Comment Alex Kintner
Alex Kintner's picture

Please do.

Tue, 03/19/2013 - 12:18 | Link to Comment Schmuck Raker
Schmuck Raker's picture

Don't forget the blindfold.

And last cig.

Tue, 03/19/2013 - 12:07 | Link to Comment earleflorida
earleflorida's picture

"Et tu, Brute"

Tue, 03/19/2013 - 12:07 | Link to Comment yogibear
yogibear's picture

The whole world is watch and waiting to see if Cyprus shows the technocrats, bankster leeches and  Troika the door.

Tue, 03/19/2013 - 12:08 | Link to Comment NoTTD
NoTTD's picture

It's tight sphincter time.

Tue, 03/19/2013 - 13:15 | Link to Comment DaveyJones
DaveyJones's picture

dollar diarrhea

constitutional constipation

quite a condition

for this once "great" nation

Tue, 03/19/2013 - 12:08 | Link to Comment tecno242
tecno242's picture

Here's what happens now...

The Cypriot leaders realize that the EU is trying to confiscate their hard earned cash.  They therefore won't allow any solution to the problem.

Let the derivitive explosions begin, as for the first time, a banking system is allowed to implode on the bond holders.

Tue, 03/19/2013 - 12:10 | Link to Comment magpie
magpie's picture

"We will take steps to study the proposal" lol

Tue, 03/19/2013 - 12:08 | Link to Comment monopoly
monopoly's picture

All is well. Please, continue enjoying your dinner and the music. That sound you heard, it was just a very small iceberg. Nothing to be concerned about. We are here to help you enjoy the festivities. 

Tue, 03/19/2013 - 12:08 | Link to Comment BlueCheeseBandit
BlueCheeseBandit's picture

The governments are proving impotent! We can do whatever we want! I'm going to spank a midget covered in salad dressing!

Tue, 03/19/2013 - 12:09 | Link to Comment Its_the_economy...
Its_the_economy_stupid's picture

I think i read this morning the DB was exiting its advising roles on the committees tat set inter-bank lending rates for the Euro and the Aussie Dollar. i can't remember the link.

Wonder why? Is this some footwork for future positioning of Germany in the EMU?

Tue, 03/19/2013 - 12:09 | Link to Comment Charles Nelson ...
Charles Nelson Reilly's picture

"I'm just gonna go find a cash machine" ~ The Dude

Tue, 03/19/2013 - 12:09 | Link to Comment lizzy36
lizzy36's picture

It is all fun and games until the EU loses and Island

Tue, 03/19/2013 - 12:15 | Link to Comment thismarketisrigged
thismarketisrigged's picture

did we really need this news today?

 

its so not fair to bernanke, he had a speech ready for tomm, and now with this news he has to rewrite his speech completely to try and keep the markets a float.

 

i do love seeing the reds on my screen, im hoping this escelates so bad that all the bankers lose there jobs and go to prison . fuck u wall st, die

 

also, how is that record high for the s&p doing wall st? o so close, but not close enough. ha ha, fuck u bankers

Tue, 03/19/2013 - 12:24 | Link to Comment HurricaneSeason
HurricaneSeason's picture

Wall Street will make bets on the Dow and the country to crash while sending more jobs out of the country, if they feel like it.  They don't need pension plans to do well to make money. They were making bets on the subprime loans to fail as they were selling the crappy mortgage backed securities.

Tue, 03/19/2013 - 13:34 | Link to Comment eclectic syncretist
eclectic syncretist's picture

The SLV jan 2014 put/call ratio went from 0.5 to 0.35 in the first two weeks of this month, with other comparable events that now make sense in light of these developments.  Obviously, someone knew or at least had a really good hunch that something like this was going to happen.

Tue, 03/19/2013 - 12:10 | Link to Comment HurricaneSeason
HurricaneSeason's picture

Commies.  It was going to go for the good of housing values and bank capitalization. These are the job creators.  Negative Nominal Interest Rates (NNIR) are the only thing that will turn the world economy around and reduce government debt.

Tue, 03/19/2013 - 12:10 | Link to Comment squid virtuous
squid virtuous's picture

What time does our fearless leader Ben Shalom speak tomorrow? or is it just a release of more BS statements from the Fed?

Tue, 03/19/2013 - 12:11 | Link to Comment Oligarch
Oligarch's picture

Euro's anyone?

Tue, 03/19/2013 - 18:13 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Of course. Rates? ;-)

Tue, 03/19/2013 - 12:11 | Link to Comment ziggy59
ziggy59's picture

Maybe Parliment got some new telephones REDex'd this afternoon from some Comrades and had heard some voice mails, or RED some ineresting texts, or links to the Godfather movie series...just sayn

Tue, 03/19/2013 - 12:11 | Link to Comment Monedas
Monedas's picture

Euro-Crisis Groundhog Day .... get some popcorn and get comfortable !

Tue, 03/19/2013 - 12:12 | Link to Comment Atomizer
Atomizer's picture

Passes

Fails

 

Place your vote.

Tue, 03/19/2013 - 12:13 | Link to Comment glenlloyd
glenlloyd's picture

wait....where's MDB's idiotic commentary?

Tue, 03/19/2013 - 12:46 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

Please don't awaken the trolls...

Tue, 03/19/2013 - 13:22 | Link to Comment blu
blu's picture

Here let me try:

Americans watching the drama in Cyprus can better appreciate how well our own banking system works. No depositor has ever lost a single dime by depositing their money in a US bank, and never will. America has the safest and best-regulated banking institutions in the world, and money from Europe is pouring into US banks even as their own banks require endless bailouts. I can never understand all the whining I hear about US banks and the financial sector being unregulated and underhanded. Our financial centers are shining examples of regulated growth with safeguards! America being the heart and soul of capitalism, its citizens can go to bed at night secure in the knowledge that their retirements, savings, investments and college trusts are in good hands.

How'd I do?

Tue, 03/19/2013 - 12:13 | Link to Comment Jack Burton
Jack Burton's picture

Maybe they will now accept the Russian offer. Gasprom money in exchange for drilling rights in Cyprus waters. It is still on the table I believe.

The EU bankers are pissing themselves just about now. If they eject Cyprus from the EU, then the flood gate is open. Also, with the Russian deal hanging out there, a kicked out Cyprus just might go for it.

That would leave the EU and the US/NATO axis only one choice. War on Russia! Trouble is that Vlad is hip to how the EU/NATO operates, and has vowed to detonate nuclear weapons over any foreign [read NATO] force to cross onto Russian soveriegn territory. Vald may be less than a good guy, but when he tells NATO to go fuck themselves, it does brighten my day!

Tue, 03/19/2013 - 12:16 | Link to Comment Spacemoose
Spacemoose's picture

is it a candle because we call it a candle or is it a candle because it burns? you ARE jack burton!

 

Tue, 03/19/2013 - 12:20 | Link to Comment machineh
machineh's picture

Jack speaks of a larger geopolitical dimension that few have grokked.

NATO (meaning the U.S.) is trying to take over British bases on Cyprus. Russia is dead set against it.

As Saddam Hussein used to say, 'Everything is possible now, my brothers!'

Tue, 03/19/2013 - 12:55 | Link to Comment akak
akak's picture

Britain, the has-been bankrupt rump of a former empire, still has overseas military bases?  I would never have guessed it.

Tue, 03/19/2013 - 13:03 | Link to Comment Ghordius
Ghordius's picture

sure it has, and some of them are only temporarily leased to the US

specifically that base in Cyprus was handy to have when the UK and France wanted to trash Egypt and take back the Suez Canal, in the Fifties

Uncle Sam called them back after they were already landing with stern words and lots of threats and since then we live in the Pax Americana

also called the Great Dollar Bazaar, or The Greatest Commercial Empire Ever, or the Greenback Hegemony

a pity that the empire has megabankster-cancer

Tue, 03/19/2013 - 13:25 | Link to Comment akak
akak's picture

Yeah, but what the HELL are the British still doing in Cyprus?  Who, or what, are they still defending?  It's not like they have even a sliver of their former empire left, unless one wants to talk about crazily isolated specks of land like St. Helena and Pitcairn Island.  I mean, just who do they think they are with their laughable imperial pretensions, the USA?

Tue, 03/19/2013 - 13:33 | Link to Comment Ghordius
Ghordius's picture

akak, imperialism is not a habit that you get rid of lightly. F & UK also have both nuclear weapons, and submarines, and so on. trust me, the moment Uncle Sam spends less than 50% of the world's military expenses both "former" colonialists will find lots of reasons why the world needs them

hey, who do you think still does the diplomatic legwork for the US? who talks with the sheiks? PM Cameron. who talks with half Africa? Hollande. and so on. In fact, some say that your State Department is an utter waste of money, or only good as a front for the secret services

Tue, 03/19/2013 - 13:11 | Link to Comment DaveyJones
DaveyJones's picture

Jack speaks the truth

Western Europe has little energy, lots of consumption,

and now, a financial house of cards laid out for all to see

 

Tue, 03/19/2013 - 13:17 | Link to Comment Ghordius
Ghordius's picture

eh, we still produce the "things" that Russians and Chinese want. you know, the "things"? that stuff that leads to a positive trade balance? of course I'm talking about the eurozone, then the UK...

Tue, 03/19/2013 - 15:06 | Link to Comment DaveyJones
DaveyJones's picture

I thought Russia and China produce their own prostitutes?   

Tue, 03/19/2013 - 18:57 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Hate to brake it to your blissful life, but if candy-ass "Average Americans" had to pay $8-9 per gallon for gas, there'd be a collapse. Have you ever been to Europe, for any meaningful length of time?

Just had some beers with a CWL toting Americanized German and American engineer at the airport. Both are headed to Europe. The American guy tells me that few things scare him as much as "a person who bitches & moans about a place they've never been to, much less spent any time there. Because they are dogmatic and pre-programmed. Might as well debate Jehovah's Witnesses." I hoisted my glass in approval.

Tue, 03/19/2013 - 12:35 | Link to Comment Element
Element's picture

The EU is one EMP pop away from a re-run of the bronze age.

They seem to keep forgetting that.

Tue, 03/19/2013 - 13:10 | Link to Comment Ghordius
Ghordius's picture

the european continent is one EMP pop away from the 19th Century, you mean - don't forget that our cities functioned then, and were not that much smaller than now. it's newer parts of the world that would go further back with one EMP pop. and don't get me started on agriculture

Tue, 03/19/2013 - 12:41 | Link to Comment SmallerGovNow2
SmallerGovNow2's picture

VERY interesting thesis Jack...

Tue, 03/19/2013 - 13:12 | Link to Comment Ghordius
Ghordius's picture

bloodthirsty. and who the fuck delivers our oil and natgas if "we" go to war with Russia? no interest, thanks. go and play warriors and soldiers somewhere else, this continent is already chockerblock full with historic battlesites

Tue, 03/19/2013 - 12:50 | Link to Comment terryfuckwit
terryfuckwit's picture

I have spoken at great lengths to old friends in mi6 and this is operation britbrics uk have historically very good relations with Cypriots and are working with the brics to pull the plug on the financial ponzi.. Eu politicians are merely pawns ... Obama knows what is happening but is keeping stum for his financial overlords who will soon be arrested....

And then I woke up ......

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