This page has been archived and commenting is disabled.

Cyprus ATMs Low On Cash, Credit Card Payments Refused; Medvedev Compares Europe To USSR

Tyler Durden's picture




 

So far the market has been largely oblivious of the shattered trust and changed dynamic in European banking dynamics for one simple reason: Cyprus banks have been closed, and likely will be closed indefinitely, preventing the mass media from broadcasting what happens when an entire population, and foreign depositors, decide to clear out the holdings of their bank accounts, either physically or electronically, and the public anger the will result when they find that courtesy of fractional reserve banking, only a tiny amount of said deposits is actually present.

In the meantime, retail depositors have had their withdrawals limited through a form of capital controls, allowing them to pull only as much as the daily limit is on given ATMs. So far the banks have had enough cash to keep ATMs stocked up to the daily required minimum, but that may soon be ending. BBC's Mark Lowen, in Nicosia, reports that "Cyprus' banks are still giving out cash through machines - although with limits, and some are running low." Ironically, as physical cash becomes ever scarcer, merchants are now clamping down on electronic payments unsure if they will ever be able to convert electronic euros into actual ones: "Some businesses are now refusing credit card payments, our correspondent reports."

Logically, this progression of limited transactions will accelerate exponentially until by some miracle, either normalcy returns and faith in the local banking system is restored, or every form of commerce, trade and exchange grinds to a halt, leading to a localized, at first, manifestation of the "just-in-time" supply-chain cross contagion that was explained in painful detail in "Trade-Off: a study in global systemic collapse."

Since we don't believe in miracles, our money is increasingly on the latter. This sentiment is further reinforced by former Russian president, current Prime Minister, and Putin mouthpiece, Dmitry Medvedev, who said that what Europe has done is nothing shy of what the USSR used to do in its attempt to destroy faith in private property, and thus, capitalism.

From the FT and Reuters:

Mr Medvedev said the EU and Cyprus had acted “like an elephant in a China shop”.

 

“All possible mistakes that could be made have been made by them,” he added.

 

"We are living in the 21st century, under market economic conditions. Everybody has been insisting that ownership rights should be respected.”

 

Mr Medvedev also criticised the decision to freeze the Cypriot banking system, and not just withdrawals from troubled banks, warning that if this continued for any length of time it could “result in losses . . . even bury the whole banking sector of Cyprus. It will cease to exist,” he said.

...

 

The proposed bank levy, rejected by the Cypriot parliament on Tuesday, had a "clearly confiscatory, expropriating character," RIA quoted him as saying - remarks that echo earlier criticism by Russian President Vladimir Putin.

 

It was, Medvedev said, "absolutely unprecedented". 

 

"I can only compare it some of the decisions taken ... by Soviet authorities, who did not give a thought to the savings of the population."

 

Alas, it is not just in Cyprus that the current failing status quo has become the USSR incarnate: one can see it in the central planning of the stock market, in the general approach toward the wealthy, in the absurd penetration of cronyism and the terminal corruption of the system.

And while we commiserate with the simple people of Cyprus (and soon everywhere else), who have for no fault of their own become the first pawns to be sacrificed in the systemic endspiel, we are grateful to Europe for proving us, once again, correct.

Because our only purpose with this media experiment has been to warn our readers that concentrating unlimited decision-making power in the hands of a very few conflicted individuals, without checks and without balances, always, always, ends in absolute disaster, bloodshed, and ultimately war.

Sadly, at this point there is nothing that can change the final outcome of what is an ongoing systemic failure. One can, at most, prepare as much as possible and hope for the best.

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 03/20/2013 - 18:29 | 3354417 TeMpTeK
TeMpTeK's picture

The running of the Banks.... much better than the Bulls/....

Wed, 03/20/2013 - 18:35 | 3354461 Croesus
Croesus's picture

The time for willful disobedience has come:

1) Get your money outside of the system, and away from the predations of evil people.

2) Do for yourselves and others like you.

3) Support ANY and EVERY cause against this system of feudal control.

4) Let the chips fall where they may.

Anyone who can look me in the eye, and tell me that 7,000,000,000 people can be defeated by perhaps 20,000.............is lying.

FIGHT THE POWER.

Wed, 03/20/2013 - 18:47 | 3354507 uranian
uranian's picture

Agreed. To the point that within the last week I've stopped paying tax. Now that the government has become an obviously criminal enterprise, fuck paying them tax. Not an easy life decision to make, but it really has reached this stage now, for me.

Wed, 03/20/2013 - 18:49 | 3354520 Irelevant
Irelevant's picture

Not paying taxes is kinnda stupid, as you are placing a large sign on you. Best to sell all taxable goods and hold gold, easy to carry, hard to tax.

Anyway, mark my words, these banks in Cyprus WILL NEVER REOPEN!

The deposits that are not guaranteed will not see a dime over 100.000 euros.

Wed, 03/20/2013 - 19:11 | 3354597 uranian
uranian's picture

I am surprised at the up arrows. Stupid; I'm holding money in gold and bitcoin, I have access to anonymous Visa cards (for the little amount I will need each month in fiat). I can remain beneath the banking radar, and indeed I do plan to sell "my assets" (sorry, I rent, so these consist of a sofa and a nice fish tank, heh, this kind of level), and I plan to go abroad for a while, and start trying to convince some other lunatics like me to get working on a Gesselian alternative community currency, while growing shedloads of lovely organic food via aquaponics. And possibly getting involved in unschooling, too.

 

Just for clarity's sake; I plan on fighting no power, unless it starts a fight with me first. I just plan on not consenting to giving these fucks money any more.

Wed, 03/20/2013 - 19:20 | 3354632 negative rates
negative rates's picture

If this bull don't get what he wants, and soon, he just might tear up that place worse than a cannon ball.

Wed, 03/20/2013 - 19:24 | 3354649 Kaiser Sousa
Kaiser Sousa's picture

man dont trip of those who use "the man" is gonna get you if you dont comply argument to discourage from full blown resistance in any and all forms to the rule of the bankers...

keep n mind that americans have been conditioned to go off to foreign lands and fight wars of agreession in order to steal the resources of other peoples yet are to afraid to fight their own corrupt banker controlled government desptie the fact their getting fucked on a daily fucking basis by these sociopaths........

let the fucking sheeple stay afraid...just get the fuck outta they way for all Freemen....

 

Wed, 03/20/2013 - 19:27 | 3354652 Irelevant
Irelevant's picture

I was in disagreement with the taxes part. The rest I fully agree with. You don`t want to be a enemy of the state in this climate, remember, the masses have not fucking clue what is going on. And, if the state says so, YOU ARE THE ENEMY. What the mouthpieces of big brother say is truth to this crowd. Everybody is on food stamps and sucking on that SS tit. There, here, everywhere in the western world.

Wed, 03/20/2013 - 19:33 | 3354675 uranian
uranian's picture

I hear ya, irrelevant. I disagree a bit about the masses, I think events are gradually slapping them awake, I plan on going to the south of Europe, where 65% youth unemployment is probably encouraging people to look for alternatives, but I'm equally aware that many are still hypnotised by their TVs.

Wed, 03/20/2013 - 20:44 | 3354890 Cathartes Aura
Cathartes Aura's picture

upvote for the unschooling mention - good to see others looking into this most important step in extricating minds from auto-support of a system that has exploited everyone from birth.

and raising kids in a dual-language way of thinking/being, which Europe is, sounds healthy to me as well - I'd recommend Portugal, even though they've been put through the wringer since I last was there. . . beautiful, good climate, fresh foods, friendly folks.

do it, don't look back.

Thu, 03/21/2013 - 01:19 | 3355796 Rogue Trooper
Rogue Trooper's picture

You got my up-vote brother...

Also some of these psychotic cunts will be burnt at the stake... not all will get out on the exit chopper to some 'secure location' when SHTF. Even these 0.001% will forever need to watch their backs, never travel without security and have to look twice at the new security that was just hired.  The cost of securing themselves, their families the hangers on and the security appratus will be immense.

Also there are those rather unforgiving, creative, some-what pissed off Russian ex-KGB types to think about....

"Now Boris, they call you the fucking Blade, do they NOT!

I want you to fucking find all the cunts who gave the order or facilitated, even if they made the fucking coffee, to wipe out my fucking account in Cyprus! If you get the money back then that can be a bonus for you.  But you better understand, I expect you to fuck them ALL up, their families and every fucker who they have ever fucking MET.... I want to see the fucking footage of this as proof!

Vy ponimayete!!!!!!!!!!"

 

Thu, 03/21/2013 - 03:24 | 3355981 Pay Day Today
Pay Day Today's picture

I understand very well heh

Thu, 03/21/2013 - 19:11 | 3359772 thisandthat
thisandthat's picture

Bring me the head of Alfredo Garcia - erm... Olli Rehn.

Wed, 03/20/2013 - 22:46 | 3355410 Antifaschistische
Antifaschistische's picture

This is where we still have a marginal opportunity for influence.   Tell your friends, and tell your friends to tell their friends to tell their friends to never, ever, ever convict anyone in a US Court for any tax issue...period.   But don't give any indication that you'll not convict at jury selection time.

This is the slavery we truly fight....and TPTB would like for us to think that slavery has something to do with skin color.   It's an awesome diversion, while every American voluntarily moves like sheep to the slaughter.

Wed, 03/20/2013 - 19:33 | 3354676 gwar5
gwar5's picture

Via con Dios, Uranian.

 

The massive Ponzi has no choice but to collapse upon itself. Never know which snowflake will cause the avalanche. Could be you!

Thu, 03/21/2013 - 06:46 | 3356119 uranian
uranian's picture

I'd have said this as a PM if I could see that functionality here, but as I can't ~ thank you.

Thu, 03/21/2013 - 05:06 | 3356065 KashNCarry
KashNCarry's picture

*Just for clarity's sake; I plan on fighting no power, unless it starts a fight with me first. I just plan on not consenting to giving these fucks money any more.*

Er, that is I believe fighting the power because the fight has already been taken to you, and you have assessed correctly, that you won't Feed the power with your money anymore. Ergo-continue on, and fight the power!

Wed, 03/20/2013 - 19:14 | 3354611 Kaiser Sousa
Kaiser Sousa's picture

"Not paying taxes is kinnda stupid, as you are placing a large sign on you."

continuing to be a willful slave of the banking elite and the instrument of your own oppression is more than stupid - it is pathetic...

be free of die a slave...there will be no compromise from those who choose to live free.................

Wed, 03/20/2013 - 19:31 | 3354642 Irelevant
Irelevant's picture

While I do agree with your argument you are ignoring ONE GIANT FACT, 98%+ of the people have no fucking clue what is going on and they will see in you not a hero but a dangerous lunatic that the state needs to care for.

I`m talking about SMART o opposition, not STUPID opposition. Don`t die a hero for a crowd that needs no heroes.

Be free not as a dead hero, but as a smart individual. There is no cause at this point to die for. The "people" are BRAINWASHED and WILL SEE YOU AS A THREAT.

Wed, 03/20/2013 - 19:32 | 3354674 Kaiser Sousa
Kaiser Sousa's picture

not ignoring that fact...im faced with that reality everytime i step out the front door...

the Matrix may have been a movie but the underlying story is REAL as confirmed by all those who cant differentiate the world they been told they live in versus the one they actually do live in...

when fear is overpowered by your rage at how fucked up shit is you dont give a fuck about the consequence of death... "we all got it coming kid" like Clint said in Unforgiven...

so be it if it comes to me resisting the despotic United States of The Bankers................

Wed, 03/20/2013 - 19:39 | 3354692 Irelevant
Irelevant's picture

You see, bankers, Bernanke himself has only one pair of balls and shits via one hole, as we all do. He will be dead, as we all will, some time from now. All this will be what is called history. At this particular point in history I don`t think its a very smart idea to be a stand up guy.

If we have Cyprus readership, willing to be a hero, go to those ATM lines and tell the ordinary folk you knew this would happen, so you have no money in the bank, and think the banks will never reopen, and that the politicians they just voted for are all lying and that they are tools of the masters in Bruxelles and Moscow. See what happens, how many agree with you.

We need to let 10 years pass and make sure we survive. Anyone that understands can join, but he has to come to this side, by himself.

Wed, 03/20/2013 - 20:10 | 3354785 uranian
uranian's picture

I don't think the inland revenue is going to send black helicopters after me for a few thousand, as I'm not doing a Wat Tyler here.

Liberty or death? I'm not planning on putting myself on the front lines, but I've had enough of being a sit down and be raped by banksters kinda guy. That we've recently seen the world's largest financial crime, and that it's resulted in - surprise - no criminal convictions, and it's documented that the government/BoE has been involved, I no longer have any illusions that change is possible from within.

Wed, 03/20/2013 - 21:44 | 3355118 Element
Element's picture

Look, let's get real, you are on the list - NOW. There is no hiding for you. Zerohedge would be one of the most watched sites on the net for people like you, and everyone here, speaking openly and fearlessly about what is going on. They have your names and your current location, to +/- 100 meters. If you're in a city, or have a smartphone, then smile, you're probably on candid camera.

You do have a big sign over your head.

And a you are not going to emerge in ten years from obscurity to say "I was there", at zh, all those years ago. Most likely most of us will be dead before that the way thins are degenerating. As far as civilians go we are prime targets, you are ground-zero for the police state. Either accept this, that you many not get out of this alive, or unplug and try to change your country and identity, and never come back again.

As I see it, who here doesn't know that this is likely to be the situation in a few years from now? Our best bet is to be effective and fearless and keep doing this because they're collapsing, but zh is making a difference, to how that plays out.

Looking at what Medvedev is saying to the world and to Western Govts above! I can hardly believe that we have a RUSSIAN leader speaking out in the defense of the basic rights of people in the Western World, and utterly condemning the Governments of Europe for letting this occur!

That's gob-smacking! Think about it! When has that happened?

So it may well be that we may find ourselves relying on the good will and moral support and aid of all sorts of countries that we would never have thought might standing up for us, to protect us from the excesses of our own degenerating Govts.

It's a crazy world we're in Mr Irelevant, but all the best to you, and good luck with whatever you do.

Wed, 03/20/2013 - 21:52 | 3355180 Crisismode
Crisismode's picture

So many wackos.

 

 

So little time.

 

Thu, 03/21/2013 - 02:39 | 3355876 Lord Of Finance
Lord Of Finance's picture

HAHA.  Right on "brother". This sight is full of wack jobs. I just felt the need to give you support and tell you to leave this wasteland of paranoid minds. This site has gone downhill real fast. I sent an e-mail to ZH to end my membership because I keep getting e-mail updates which I never signed up for. 

 

This web site needs a philosophical cornerstone as one of its purposes. If the tylers think they can just defeat the establishment by gaining whatever alliances they can, no matter how phuckin crazy many of these people are, then they have not thought things over too clearly.

 

In the 'art of war', in order to achieve victory, one must choose allies carefully. If we all come together regardless of our philosophical backrounds, then not only will we not defeat our enemy, we will not agree at all on what to replace it with.

 

I see the tylers ask for "donations". That makes me wonder. These tylers are very wise, but how could they(if they were really serious), overlook one of the most important components in achieving victory over ones enemy, and that is seeking beneficial alliances.

 

But that is the way it has been throughout history. So many people do not comply with these ancient directives in achieving victory in battle. Just look at Egypt. They all wanted to see an end to Mubarek, but know they have something even worse in its place. I am sure those dumbasses all said, "lets not fall for divide and conquer tactics! Lets all unite for our agreed upon goal!"  Hooray? No. You see. Getting rid of Mubarek was not the real "end". These bufoons did not follow the art of war, which also applies to non-combative purposes. We all "know our enemy", but we dont all agree on what shall replace our enemy. The replacement of the enemy IS the real "end"!

 

"THE END MAY JUSTIFY THE MEANS, SO LONG AS THERE IS SOMETHING TO JUSTIFY THE END"

 

 

Trosky lamented the failure

Lord of Finance has spoken truth. 

 

 

To all you quack jobs out here, I demand you at once . . .

 

 TAKE ME TO YOUR LEADER!

 

Oh thats right. You have no leader. No clue. No knowledge.

 

Just lost time and mind

 

Thu, 03/21/2013 - 03:30 | 3355972 Element
Element's picture

Take me to your leader bitch!! LOL hilarious

So you read Sun Tzu? Well who hasn't?

Remember the Opium wars? Who won?

Oh, a little navy from the other side of the planet?

The Limeys must have a better book, no?

lord of finance? .. phft! ... sure

BTW, the emails you get sent are due to user account settings (I see you were a member for 17 weeks and still couldn't work it out)

aye! ... dumb you are.

Thu, 03/21/2013 - 03:34 | 3355993 Lord Of Finance
Lord Of Finance's picture

What?

 

Your anger and hostility show what an angry schizoid you are. You all have some serious pre-frontal cortex and temporal lobe defects.  I suggest you sign up for Obama care or go to the government asstance care in whatever countries you paranoid schizos are inhabiting and get a SPECT scan of your useless brain. The scan will help the doctors find where the damage is and get all of you on the proper psychiatric meds.

 

Just tell the doctors that 'Lord of Finance' says I have brain damage, and these medical professionals will get all of you the proper psychiatric medications, along with some behavioral therapy.  Good luck!      :D

Thu, 03/21/2013 - 03:41 | 3356000 Element
Element's picture

 

"This site has gone downhill real fast."

How would you know, you've been a member for 17 weeks 5 days.

Quite an old-hand there! You must have seen a bit in your time, huh? lol

Thu, 03/21/2013 - 04:02 | 3356004 Lord Of Finance
Lord Of Finance's picture

You do not have to be a member to read the posts. I have been a reader for 3 years before I decided to respond to a post, and therefore I had to join you smart ass.

 

You are much more the ass then you are smart.

It does not always have to be this way. It is up to you to truely wise up.

 

I would say that over the last 6 months, I have noticed the rubbish on this site getting more and more outlandish.  I am leaving this site to the vultures, but I wandered into this articles responses, and like any sane person who wanders into an insane spectacle, I just started reading the paranoid thoughts and I got baffled and mesmorized by the absurdity. Absurd, crazy, incomprehensible rubbish, and so now I can certainly say . . .

 

Good riddance to bad rubbish!

Thu, 03/21/2013 - 04:18 | 3356040 Element
Element's picture

So in the preceeding 3-years it was all peaches and cream? You just noticed this over six months? Wow. I read this blog for a long time before I joined it too, and it has always been much like this in my experience. It is an open forum with no censors, so you are going to get anything and everything, but mostly it's the most current info and brillaint analysis around.

BTW zh does have a philosophy, it's in the manifesto link, at the top of the page. Which is kind of hard to miss, especially for such an experienced reader as yourself.

http://www.zerohedge.com/about

 

toodle-pip old boy!

Thu, 03/21/2013 - 10:51 | 3357034 Lord Of Finance
Lord Of Finance's picture

Zero hedges bullshit point manifesto has no solid philosophical construct or foundation.

 

Its manifesto is bland and meaningless.

 

It is not founded on ANY philosophical principles! whether it be economic or ethics. The fact that you or anyone can mistake the ZH "mission" statement as a real manifesto or philosophical principle just show how mistaken and blind you all are.

 

At least successful movements had real manifestos and real philosophical principles, be they good or evil. At least they stood for something with meaning. It is proof of your naivity and lack of true understanding that which gathers all of you to this despotic state to profess such mindless and juvenile illogical statements.

 

If ZH would have not made such a generic statement about its mission and had REAL ideological principles as its cornerstone or foundation, then maybe they would have accomplished something more than gathering a bunch of delusional minds togethet to discuss the insane and inane.

 

How about setting its mission to educate the people on the solid economic principles of Austrian economic theory? Set the intellectual principles on Ayn Rands economic ideas? Set the ethical foundational economic principles on the ideas of Hayak or M. Friedman? How about setting the foundational principles on something other then a misunderstanding and historical revision of the enlightenmight philosophical economic concepts?

 

Now that I have gone above and beyond my duty as an educator and human being to clarify my position that should be clearly obvious to anyone with a sound logical construct in that cranium of theirs, I will part from this site for good and leave to the vultures such as yourselves, because I am falling into Twains synopsis on argueing with idiots, and that is; I am being taken down to the same level as all of you, and quite hon

Thu, 03/21/2013 - 10:49 | 3357050 Lord Of Finance
Lord Of Finance's picture

Zero hedges bullshit point manifesto has no solid philosophical construct or foundation.

 

Its manifesto is bland and meaningless.

 

It is not founded on ANY philosophical principles! whether it be economic or ethics. The fact that you or anyone can mistake the ZH "mission" statement as a real manifesto or philosophical principle just show how mistaken and blind you all are.

 

At least successful movements had real manifestos and real philosophical principles, be they good or evil. At least they stood for something with meaning. It is proof of your naivity and lack of true understanding that which gathers all of you to this despotic state to profess such mindless and juvenile illogical statements.

 

If ZH would have not made such a generic statement about its mission and had REAL ideological principles as its cornerstone or foundation, then maybe they would have accomplished something more than gathering a bunch of delusional minds togethet to discuss the insane and inane.

 

How about setting its mission to educate the people on the solid economic principles of Austrian economic theory? Set the intellectual principles on Ayn Rands economic ideas? Set the ethical foundational economic principles on the ideas of Hayak or M. Friedman? How about setting the foundational principles on something other then a misunderstanding and historical revision of the enlightenmight philosophical economic concepts?

 

Now that I have gone above and beyond my duty as an educator and human being to clarify my position that should be clearly obvious to anyone with a sound logical construct in that cranium of theirs, I will part from this site for good and leave to the vultures such as yourselves, because I am falling into Twains synopsis on argueing with idiots, and that is; I am being taken down to the same level as all of you, and quite hon

Thu, 03/21/2013 - 12:36 | 3357087 Lord Of Finance
Lord Of Finance's picture

. . . I am being taken down to the same level of idiocy as all of you, and quite honestly you all have much more experience then I do on that level.

 

Now I am not saying you are foolish for believing in conspiracy of a banking elite/cartel. I believe in the conspiracy as well. There is nothing wrong with believing in conspiracy, as long as it is something made plausible by documentation as the Tylers have done, as well as some other writers have done.

 

But do undersyand that my understanding is much different from yours and most of thr posters here, and maybe as well as the tylers themselves.

   A conspiracy can mean anything. As Kiyosaki notes, "at a football game, when bothteams enter the locker room at half-time, they are also conspiring against one another."

 

What we need to defeat these opponents of ours is a game plan. A realistic plan. A good plan that is based on core values and beliefs. I am not talking only in spiritual terms here. I am talking about IDEALS. Without them, we are all as good as dead. The bansters have their ideals and they are well organized, connected and have terrible consequences for us. We all know this, but what do we do about it?

 

You are not foolishly paranoid if you think there is a conspiracy or even if you think their intentions are nefarious. But all this chatter about not having bank accounts and going under the radar are loony and that will not help in bringing real change we all can believe in. First, we have to have a more common and central belief then just "ending the fed".   The founding fathers did not all agree on many things, but they had a fundimental and philosophical belief that MOSTLY all the colonists were able to rally behind. Without core principles and values, we have no chance.

 

  I believe you people are paranoid, s

Thu, 03/21/2013 - 13:11 | 3357724 Lord Of Finance
Lord Of Finance's picture

. . . so it is with nations, so it is with individuals-(vice-versa).  You all should be commended on following through with the credo; 

 

  'stop bitchin', and start a revolution'

 

but you have only thought through half the scenario. What happens after the revolution? What replaces the fed/cartel?

 

  Of course you have no idea what comes after. You are short sighted, and therefore you shall remain the fools you claim not to be.

Thu, 03/21/2013 - 16:55 | 3359170 Element
Element's picture

Combat 101 - Day 1, Hour 1, Second 1: Your first lesson

No plan survives the first contact.

You have no idea what you're talking about. Your scrawls read like amateur-hour at a kindergarten. No one needs to bring you down to the level of a fool, you're there. Your reactions are fear-based, due to what was written above. You can't face it, so you now want to distance yourself as you are a flighty gutless coward.

Own it.

Bye

Fri, 03/22/2013 - 00:23 | 3360736 Lord Of Finance
Lord Of Finance's picture

You are such a dipshit. My writing is kindergarten? You obviously got your shit inside out and upside down. I effectively refuted all your fallacious rebuttals and you never countered with any FACTS as to how I am wrong!

 

You are the coward who sits behind a computer monitor living in a low rent, white trash existance. You have no idea who it is you are talking to. I know you are a low rent piece of trash because NOBODY who is successful and learned writes in the infantile manner in which you spew your incoherent rambling that I shot down with little effort. I have more knowledge and wisdom in the bottom quadrant of my hypothalimus, then all you lowlifess have in your entire warped and useless brains.

 

You are all low rent transient losers who need to grow up and stop acting like a bunch of crazy morons. You are a joke to the rest of society and that is why you assemble here in cyberspace, because it provides the only escape from your sad, meager and bitter existence.

 

YOU DONT ALWAYS HAVE TO BE LOSERS. YOU CAN CHANGE YOUR CIRCUMSTANCES BY CHANGING YOUR OUTLOOK AND REALIZING YOU ARE A LOW RENT AND DECIDE THAT NO LONGER WANT TO BE A PATHETIC NOTHING. 

 

THE CHOICE IS YOURS. I DO A LOT OF CHARITY IN THE SOCIAL WORK FIELD AND I KNOW THAT MANY OF YOU HAD A TOUGH LIFE. YOU CAN CHANGE YOUR STATUS. IT DOES NOT ALWAYS HAVE TO BE THIS WAY FOR YOU.

 

THERE ARE MANY PEOPLE LIKE YOU, BUT YOUR CIRCUMSTANCES ARE NOT COMMON. ALL OF YOU HAD A TOUGH LIFE EARLY ON, I CAN SEE THAT, BUT KNOW YOU ARE ADULTS AND THE CHOICE TO BE A LOSER OR A HEALTHY HUMAN BEING ARE ALL YOURS NOW. I DO HOPE YOU OVERCOME YOUR ANGER AND BITTERNESS

Fri, 03/22/2013 - 00:51 | 3360756 Lord Of Finance
Lord Of Finance's picture

PS-

 

  You might want to lay off the pot. Pot causes paranoid, delusional thoughts and states of psychosis in certain individuals. Mary jane is not for everyone. Not all people should smoke it. Individuals such as yourselves should stop using it now before it causes you more brain damage. 

 

Some people have no psychotic symptoms for its usage, but you are not the "some" I am refering to.

 

Seriously people, will you please grow up. Start being healthy, mature and intelligent adults. You must have had a rough childhood, but that is no excuse for your state. You have to realize all the people who had it worse then you. I dont feel sorry for you, because you should know better than to blame your current state of circumstances on the fed or your obvious troubled yu

Remember what I said earlier. Technology has rapidly improved in the neuroscience field, much more so then any other medical field. I recommend again that you have a SPECT scan done on your brains. You will definitely need to have a scan done to see where the damage is so you can get the proper medications see where the damage to your brain is and you can get the proper prescription to remedy the areas that have been damaged. Best of luck!

Fri, 03/22/2013 - 02:48 | 3360951 Lord Of Finance
Lord Of Finance's picture

BTW. I teach history and philosophy at the college level. You stated that my writing was 'kindergarten scrawl'? 

 

I would seriously reconsider and re-read your comments. Of course you will never be able to objectively see that I am much more experienced at debate, discourse and writing. I have written more over the last year, then you will ever do in a lifetime.

 

Question:

 

Can I use your writing skills as examples for my students on how not to write? I figured I should ask first. 

 

You are with like minded fools here on this site, but up against me, you are certainly out of your 'element'!

 

Thu, 03/21/2013 - 20:52 | 3360017 honestann
honestann's picture

Replace the predators and their fictions with nothing.  The goal is an absense of human predators and parasites, and an absense of fictions believed to be real.  Why would I want to replace one evil with another?

So your plan is for everyone to do nothing, and allow the predators free reign to do whatever they wish to everyone... until 100% of humans on planet earth can agree "what to replace them with"?  That is nothing but a guarantee the predators rule forever.

Is this your philosophy?  What is your philosophy?  What philosophy should ZH have?

Fri, 03/22/2013 - 03:20 | 3360893 Lord Of Finance
Lord Of Finance's picture

Predators?

 

Parasites?

 

I recommend a SPECT scan for every one of you.

 

What philosophy?

 

I stated several of my examples several posts higher. That should be definitive enough. I suggest all of you do some real reading of scholarly works that have been thoroughly examined and studied. 

 

AYN RAND-  Capitalism (The Unknown Ideal)

 

Freiderick Hayak-  The Road to Serfdom

 

Anything by Ludwig von Mises and Milton Freidman

 

That only covers a few drops in the bucket on economic philosophy. Next week class, I'll assign some books on philosophical foundations of moral/ethical reason.Of course you are too warped to comprehend how these philosophical constructs have a great deal to do with economic philosophy, but that will be a lesson for another day.

Fri, 03/22/2013 - 20:28 | 3364346 honestann
honestann's picture

Those are good books and good references (though not so sure about Milton).  At least you didn't cop out, and I give you a thumbs up for that.

I understand your criticism of me --- obviously you haven't read the majority of my posts on ZH.  That is understandable and forgivable, since we all have limited time, and I haven't read most of yours either.

So you don't realize that I have posted a great many philosophical messages in ZH, including many very fundamental ones, and how fundamental philosophy (metaphysics, epistemology and ethics) support what is also considered a branch of philosophy that is called "politics".  The fact is, almost the entirety of "politics" is pure fiction, and therefore should probably not be considered part of philosophy.

You really should go back and find at least one of my posts where I explained at great length how the fundamental story of mankind is "predator versus producer".  This explains a great deal about the current state of mankind, and does so in terms of fundamental philosophy.  For example it explains where "ethics" comes from.  Hint:  Humans acting as predators have no "ethics" or any need for "ethics", they only have a modus-operandi, which is "get away with whatever you can".  When some humans started to become producers (as a way of life), they had to invent (identify) "ethics" to justify simple and obviously reasonable actions like "stopping human predators and parasites from just grabbing all the goods and goodies (crops) they produced".

These messages will explain to you why natural "ethics" is simply "causality applied to human actions".  Actually, I think you might enjoy those posts, and get something from them.  These messages are more rigorously "reality-based" than what you'll find in AR or elsewhere, and they essentially agree with those references in many ways, but give a hard-core basis in fundamental reality that those authors were not quite able to recognize or express for some reason.

Wed, 03/20/2013 - 22:32 | 3355314 honestann
honestann's picture

Good, put the clueless on notice.

But also remember that ways exist to be brave and helpful that will probably NOT paint a crosshair on your forehead.  If you are a producer and you simply SHRUG (and only exchange real goods for real goods henceforth), you are less dangerous and less visible or interesting to the predators than the 150,000,000 odd people who get food stamps, unemployment, welfare or other so-called "freebees" (boy are they not free, but you know what I mean).

So everyone who "gets it" to a reasonable degree can HELP the cause.  You don't need to stick your neck out any more than random folks.  Of course "random folks" will be weeded out after "liberty advocates" AKA "domestic terrorists" (most of whom own no weapons and never harmed a fly), but that's quite a ways down the pike (a few extra years, perhaps).

So judge your bravery, and do whatever you can up to your risk limit.  If every producer simply stopped producing, the predators would lose in a matter of weeks, and probably be dead in a matter of months, without a single shot from any liberty advocate.  Unfortunately we can't organize well enough in this world of overwhelming insanity and cluelessness to achieve any such "clean" solution.  But do what you can.  At least you'll feel clean.

Wed, 03/20/2013 - 23:22 | 3355555 Element
Element's picture

A global strike and withdrawal of all labor would do it in short order, but dancing with the stars is on, so we had to reschedule.

I'm less and less inclined to playing things safe. I almost died when I was six, drowned, seriously, I drowned, went through the whole thing. You wouldn't believe how lucky I was to get revived, so every day is a bonus, and I feel like splurging all of them. I just don't get afraid of doing things or saying things. It seems impulsive to some, or brave or stupid, whatever, but so what. I've died before, and it didn't hurt a bit. The only bad part was the fear of breathing under water, I panicked like you can not imagine, and when I finally had to breath the water, all panic stopped. It was a complete shock to wake up alive and somewhere else after that. I knew I was done, and suddenly I had another life, like nothing had happened.

So I don't have the fears most people seem to have, and I don't have a strong sense of self-preservation due to that, like others do, and my motivation matrix is apparently completely different. What are the crims going to do to me kill me? Ha! No really HAAA!! They can't scare someone like me to silence, it won't happen. And I like it Ann. I love it, not caring. I feel sorry for those who are so afraid of 'outcomes', the 'future', I know they can't help being like that, but quasi-dying made me live. Nothing in this world can ever undo that. And the people who might want us to shutup, they are nothing. They have NOTHING that compares to this effect of having died and got the second free bonus life. Dying is not our enemy, fear is our enemy.

Love ya babe, have a great day.

Thu, 03/21/2013 - 04:27 | 3356048 Ghordius
Ghordius's picture

this kind of experiences can lead a man to the path of stoicism, yes

I personally dislike HonestAnn's "predator" theme, then I feel that it hides the humanity of the people involved, but yes, predators can sense fear, and so fear is the last thing you should give yourself to if you are dealing with predators, eh?

I find your comment about a global strike interesting - it reminds me of the plebeian revolutions in ancient Rome. I also find such a "socialistic" "solution" quite refreshing and novel, here in the ZH comment section

Thu, 03/21/2013 - 05:34 | 3356072 Element
Element's picture

I don't see what is 'socialistic' about a global strike in this context, it is not being use as a means of bargaining with an employer, it is a tool commonly used instead of violence for the mass of people to get what they require from a system they are demanding reforms from, or else to tell the Govt it will no longer be recognized.

Worked for Poland, no one died, Govt and also ideology swept away. Why would anyone want to interpret strike with a political ideology or association? Most people live in a community, but don't call them communes.

As for predators, and their human side, yeah, nice crab bait.

Fri, 03/22/2013 - 10:22 | 3361874 Lord Of Finance
Lord Of Finance's picture

The plebians were forced into debt. They had no choice in the matter. The American people are not forced into debt. I have no debt. I borrowed money to finance a car, but I did have several other choices.

   The banksters sold the people on debt spending back in the 1960's.  That is when 30 year morgages and 5 year car loans were being introduced. The choice was given to the people and the people CHOSE debt to the banks. They had other options. They became greedy just like the banksters. The banksters knew their plan would work.They know that greed lies in the hearts and souls of most men. It is just like the lyric in the song 'Dogs' written by R.Waters; ". . . and you believe at heart everyones a killer!'

 

  Indeed they do, and it turns out they were mostly correct. The banksters knew that big profits were in store on this belief. 

In 1960, the average home price was $10, 000. The average anual salary was about $7,000. The average morgage was 5-7 years! 

 

The banksters needed more debt spending by the people to greatly increase their lust for greed. They introduced/tempted the people into "owning" bigger and better! They played on the greed/keeping up with the Jones' factor and it worked. The devils laid out the offer of temptation, and the sheep dove in.

 

The plebians were imprisoned for failure to pay debt. The patriarchs today know that will mean less money for them. They just offer them knew debt systems to continue to play the game of hope-get greedy-lose.  Until the persons credit is so wiped out that they are ni longer useful to the banks and can no longer buy/sell their debt. But make no mistake. Unlike the plebians, the rest of us have choices.

Fri, 03/22/2013 - 20:24 | 3364477 honestann
honestann's picture

You are technically correct...

---  BUT  ---

Your own message provides the other side of the coin.  Not exactly a justification for going into debt to buy a home.  And definitely not a justification for living an entirely debt-based existence.  But your message clearly demonstrates what may be the main reason people are sucked into debt today.

In 1960, people could buy a home with 1 year of their income, 2 years at most.  My parents paid exactly 1 year income in about 1960 for the 4-bedroom home where we lived as kids (6 of us kids, 1 income earner).

Today, a house costs MUCH MORE.  This is not entirely due to the fiat debt-based economics you and I both hate.  In fact, at the current [very unusual] point in time, interest rates are held down artificially.  But the widespread adoption of "life by debt" made the cost of a home more-or-less irrelevant for people.  They no longer needed to have 100% of the price of a home in savings, they only needed 20% (and now 0% to 4%), and they could even put that on a credit card if they wanted.

Thus the price of homes shot through the roof --- increased by several times.  Homes can be built much cheaper, and they were built much cheaper in years past.  The reason they are more expensive today is not just because they are larger or more luxurious, they are also more expensive because people are willing to pay more, so builders charge more (and fail to hold down their costs, because they don't need to).

A few years ago I performed a careful analysis of how much homes would cost if we lived in a pure "physical gold == money" system without any form of fractional-reserve banking.  The answer is: 8x to 12x.  When you consider how dominant "a home" is in the scheme of the personal budgets of most individuals and families, this explains a lot about why people THINK they NEED debt.

In the past, you save for 2 to 5 years, then buy a house for cash (perhaps with a little help from the parents of you and your new spouse).  From that day forward your "personal economics" are very healthy!  Not only did you just lose your "rent payment" every month (with no "mortgage payment" replacing it), but the single largest expense of almost everyone today simply does not exist.  That $2000 or $3000 or $5000 per month that people pay for NOTHING (for living in a wholesale "debt-based system") is now available for other spending.

Think about this!  Every month you have $2000 of spending money available!  You can buy a car for cash after only 7 to 12 months of savings (depending on car).  You can save for 4 or 5 years and have $100,000 cash to start a new business.  Or you can simply spend like a drunken sailor ($2000~$5000 extra per month) your whole life... without going into debt!

My point is this.  The very existence of a "debt-based system" inherently drives up prices.  Therefore, to live a given level of lifestyle, people need LOTS MORE MONEY.  This is one reasons people feel debt is so necessary... to live a lifestyle they know should be commensurate with the time and effort they spend working (which should more-or-less correspond with their productivity, thought that's another story).

Yes, I personally disagree with the decision of the vast majority to go into debt to live the lifestyle they expect, even if they deserve it.  But I do understand it --- especially when you consider how massively brainwashed people are by advertising and "social pressures".

disclaimer:  I always lived frugally (probably most people would say "insanely frugally", but I disagree).  I have never been in debt, never took a loan.  I've never purchased or owned a radio, stereo, boom-box, television, jewelry, watch, expensive clothes or [large list of common but unnecessary goodies].  I have spent quite a bit (probably $200K ~ $300K) over the years for high-quality technical goods that I need to do my productive work, but most of those expenses more than paid for themselves (in combination with endless hours of my efforts).  So I do not excuse or justify living a debt-based existence --- just the opposite!  Depending on how you look at the situation, you could say that those of us who never go into debt get the worst deal of all.  We too are punished by having to pay much higher prices for everything, even though we didn't cause the high prices.  Which is my point --- the pressure to borrow is made much greater by the insane debt-based system that exists today.

Thu, 03/21/2013 - 06:55 | 3356118 uranian
uranian's picture

I was kettled and photographed a long time ago, and I know about echelon, so I've long considered everything I say on the internet/telephone very likely recorded. I live in the most CCTVed up nation on Earth, and I have a smartphone, so yes, I agree with you that my interactions are no secret.

If I allowed this to affect my actions, I've already lost to those who watch.

Wed, 03/20/2013 - 18:57 | 3354550 morning
morning's picture

Done the same for a more practical reason. When my deadlines come the system will be gone here.

Wed, 03/20/2013 - 19:07 | 3354589 Irelevant
Irelevant's picture

In my opinion during the next 10 years its best to be "nobody" and just blend in ... or there is this pill http://www.youtube.com/watch?v=z9pD_UK6vGU

Wed, 03/20/2013 - 19:25 | 3354641 Town Crier
Town Crier's picture

Disobedience.  Bless you.  It really is the only way.  The alternative (compliance) is only more hell.  Forever.   

Wed, 03/20/2013 - 19:30 | 3354665 Irelevant
Irelevant's picture

All those cemeteries, full of brainwashed dead soldiers, never forget that. Are you a general? Colonel? Best not to be a private in war, soldiers always die first, generals sign the peace treaties...

Read GW posts more often.

Wed, 03/20/2013 - 22:13 | 3355258 honestann
honestann's picture

Yes.  The first response is SHRUG.
Yes.  The second response is PREPARE.
Yes.  The third response will become OBVIOUS.

Wed, 03/20/2013 - 23:40 | 3355611 icanhasbailout
icanhasbailout's picture

The safest way to not pay tax is to avoid taxable activities.

Wed, 03/20/2013 - 18:59 | 3354558 gwar5
gwar5's picture

Very true. They need us. We do not need them at all.

Wed, 03/20/2013 - 19:03 | 3354574 Dr. Engali
Dr. Engali's picture

The problem is out of that 7,000,000,000 only 3,500,000 have any clue as to what's going on and the majority of the rest want the system to stay in place. Look at Cyprus for cripes sakes. They are being robbed blind and still 61% of them want to remain in the EU.

Wed, 03/20/2013 - 19:23 | 3354643 negative rates
negative rates's picture

God said to Abraham, "kill me a son" Abe said "god you must be puttin me on, where do you want this killin done?" God said " send on down to hwy 61"

Wed, 03/20/2013 - 19:56 | 3354746 jeebus
jeebus's picture

What people here want is not what I think the masses probably want.

Those 50 million families or whatever getting food stamps. They're superrr anxious for the party to stop.

 

http://www.washingtonpost.com/national/food-stamps-put-rhode-island-town...

Wed, 03/20/2013 - 20:20 | 3354809 Parrotile
Parrotile's picture

It's "educational" to run a quick poll of your colleagues, and assess just how many do not have any contingency plan of any description.

Just how many people have less than 1 weeks’ worth of food in their homes (and remember in the USA having "more than a week's worth" seems to label you a potential terrorist!).

Just how many people have an independent source of safe drinking water?

Just how many people have any form of "Abandon Ship" box or bag?

This is the great 21st Century - where image, and image alone is all that's important. Far better to have the BMW 7 series / Mercedes E Class in the driveway than have anything in the fridge. This REALLY IS the mindset of the vast (>95% population) majority.

All you need to do to survive, is survive the first month after the collapse. Trust us - there will be PLENTY of hard assets available for zero cost to you after "things become interesting"

As to suitable locations to visit during the "fun times" - Pitcairn Island (25° 04’ S, 130° 06’ W ) was good enough for the Bounty Mutineers to raise families, so it'll be good enough for you and yours too, and it’s well away from places where the excitement level may become excessive.

 

Fri, 03/22/2013 - 20:33 | 3355243 honestann
honestann's picture

A: 0,000,020,000 - predators in control
B: 0,003,500,000 - humans who have a clue
C: 6,996,480,000 - humans willing to shoot (B) if given a uniform, ammo, gun and orders by (A)

 

Thu, 03/21/2013 - 06:57 | 3356135 e-recep
e-recep's picture

people hate chaos, they love order. that's what this is all about. they know that if things go wild they have a lot to lose than just a 10% deposit haircut.

Wed, 03/20/2013 - 19:07 | 3354588 SmittyinLA
SmittyinLA's picture

the real criminals don't keep their money in the system, this arbitrary asset  tax only hit people that saved legally in banks, the entire underground economy is exempt and is only slightly inconvenienced, forget that Russian mafia bullshit, if tehy knew cash was dirty they'd steal it and without a EU tax assessment to justify it.

Cyprus should respond with a NON-bank asset tax, a tax of all Cyprus real estate followed by sale of 10% of everybody's land (or cash). 

And the EU should demand a EU wide including Switzerland EU babnk account tax, if 'we're "all in this together", then lets "all" pay the tax together and not just the poor schmucks playing by the rules in Cyprus.

Wed, 03/20/2013 - 19:25 | 3354651 negative rates
negative rates's picture

Apparently you don't own your own ponzi.

Wed, 03/20/2013 - 19:11 | 3354602 frenchie
frenchie's picture

so only 20K of jews on Earth O.o ?

Wed, 03/20/2013 - 19:14 | 3354609 OutLookingIn
OutLookingIn's picture

More Theft from Account Holders;

Reserve Bank of New Zealand;

Open Bank Resolution (OBR)

"If their bank fails, depositors money has never been guaranteed..."

http://www.rbnz.govt.nz/news/2013/5191943.html

Wed, 03/20/2013 - 20:10 | 3354786 auric1234
auric1234's picture

Which is the right thing to do.

 

Wed, 03/20/2013 - 19:20 | 3354612 knukles
knukles's picture

This is most likely the Black Swan nobody saw coming.
Allow me...
Banking problem in the EU
Everybody knows
Bailout banks by government and vice versa is problematical
Everybody knows

So what's the Black Swan?

This idiotic idea that the debt holders get off Scott free, the equity only gets diluted and the Depositor Gets Fucked!

Which results in a bank run

As a model for the rest of the EU

Now that, kids is a Black Swan.

The Disintermediation Event of the Century.
Not like loosing some money if the bank goes under, if the capital structure is properly disseminated...
But a complete violation of any and all premises upon which the banking system itself is established

Especially when the banks are the necessary ingredient to run the EU Ponzi

Killing the golden egg laying goose

This one little (seemingly at the outset) tiny decision is the Disintermediation Event
Possibly the Lehman in Waiting

 

So why's it important?
Velocity f*ing tanks
Cash is officially king
An already bad psychological environment becomes downright nasty... like sloughing the intestines with Ebola
All perpetrated by the government... meaning no where to turn but to avoid all banking
Crisis of confidence

Economy tanks
Taxes dry up
Problem balloons
Out of control
The worse get worse and nobody wins, now

I knew you could spell Contagion

Wed, 03/20/2013 - 19:24 | 3354648 trader1
trader1's picture

it's completely necessary for the shift to a new monetary system

Thu, 03/21/2013 - 00:03 | 3355675 disabledvet
disabledvet's picture

we could argue as the Prime Minister of Russia has "this is stupid." But is it? This "attack" as it were had as a consequence "an emotional response." responses such as these can be war gamed by a political entity (the "euro group") and based upon that anticipated and expectation of "a plan" be realized. in other words "there is no outcome" planned but more like "computer program unspooling" with...obviously "world leaders as the target." ("the President is visiting Israel this week.") i agree it takes a conspiratorial mindset to think "this was hit"...but still from "the birds eye view" Cyprus is an ideal target: weak media, divided island nation, claims of a "certain response", the ability to measure these claimed responses to an actual response...the actual response also happening, blah blee blah. i could go one but the point is to "create a reality on the ground that is different from the one being claimed by the authorities there." this thing strikes me as strikingly "targeted"...in other words "something only a Government or a Working Group would attempt." to me the wise response is of course the stupidest namely "hey, Euro group...we now have a beef with you and we are going to file a claim in your European Court of Justice." needless to say if you "run off to Daddy in Russia" that precludes said action. I would think Cyprus has a friend in the USA that would support such a claim...yet again "they run off to Daddy in Russia." now suddenly "the Russians are complaining too." obviously "the Eurozone" has a "complaint department"...by all means file one...i think the dude is in Marseilles somewhere and he's got one HELL of a back log...but the complaint is duly noted as received and we'll get to work on it when we get to work on it...you know "Russian style"...start swapping wives, start swapping spit. laugh at the guy bitchin' on the phone and shit. you get the picture. "it's all good."

Thu, 03/21/2013 - 02:59 | 3355944 Element
Element's picture

 

 

I suspect this event was the Banksters rolling a rock down a scree-slope to kick-off an avalanche. If there's an avalanche it quickly becomes moot whether it was triggered, we will be overcome by events. But the banksters know the system is teetering as they're constantly rigging it to hold it at a high level of collapse potential. So its no great leap to realize the circumstances of today indicate a possible attempt to set a collapse in motion.

A 'clue': We all know the BIS is running this show, it is THE Central Bank - the mother of all financialists abominations. In mid-2008 BIS warned all central banks of a pending great collapse and we know that Lehman Brothers went down from a deliberate concerted naked-short attack that was designed to kill that bank.

And we know what happened next.

And now we have the BIS in Dec 2012 making another warning of a 2008 style Lehman-moment, but worse! So here we are with a 'Black Swan', that looks to me like it was calculated to get a collapse rolling.

I don't like speculating, but I will say, if it is a controlled-demolition there may be more 'black swans' soon to help it along (if it needs it).

But I have a real hard time accepting that what happened on the weekend was an accidental snafu by incompetent fools. Wolfgang is no fool! Merkel is sharp as an axe! And Draghi is smart, cunning and evil with it. Though Legarde I suspect really is a dimwit.

So these people all conferred on a course of action, before they did this, and it is inconceivable to me that they did not realize they could trigger a Lehman's style contagion via attempting to steal 40% of deposits and imparting the kiss of death to the banks and banking system of Cyprus.

I wish I had unambiguous indications to the contrary but this looks like a carefully considered calculated act designed to create contagion.

Thu, 03/21/2013 - 03:32 | 3355988 chindit13
chindit13's picture

I suspect it might be the egg of the Black Swan.  As FT published yesterday in an editorial, the solution will probably end up being a Good Bank/Bad Bank.  All the <100K deposits will be moved into the Good Bank, along with carefully selected and likely still-perfoming assets.  A cash inflow from the ECB will stem the bank run, which will peak on the first day.  When small savers see they not only do not lose, but can take their money as they wish, many will re-deposit.  That's the nature of people.  The ECB will take the good assets as collateral for the cash loans.

The Bad Bank will have all the other large deposits, plus the remainder of the assets.  These large depositors will effectively own the bank, and they can do whatever they like to try to get back their cash.  Large depositors will be more careful in the future, and not allow themselves to be wooed by 11% interest in a ZIRP world. 

The egg hatches when large French depositors realize they live in a land governed by those most likely to see a wealth tax as both a way to save French banks and set one class against another.  Realizing this, large deposits will move from the likes of Bank Paribas (loan/deposit~1.2x) and SoGen (~1.15x) to other EU, Swiss, Asian or even US banks.  France then becomes Spain.

Eventually, for historical symmetry if nothing more, the EU comes down to France vs. Germany, great wine vs. great beer, great cuisine vs.........great beer.

Thu, 03/21/2013 - 04:03 | 3356016 Element
Element's picture

Cyprus and Russia seem to think other plans, whatever they may be.

RE redeposits: No

They will not re-deposit if they get their money back, it will be stashed or moved out of the Eurozone. Low or no interest, and EU Govts, IMF and the ECB acting in the way they have, is pure poison to depositors. Fool me once, fool me twice, etc. Plus they were profusely assured beforehand there would be no 'levy' imposed, so they definitely will not believe any assurances, and will not trust any Govt or EU officials.

So the banking system is going to be severely impaired, and discredited (sorry), if it even survives.

Wed, 03/20/2013 - 19:17 | 3354620 hairball48
hairball48's picture

Running of the bankERS before the bulls would be even better yet.

Wed, 03/20/2013 - 23:10 | 3355516 Freddie
Freddie's picture

Amerika loves their muslim who is worse than the EUSSR.

Wed, 03/20/2013 - 18:29 | 3354418 robertocarlos
robertocarlos's picture

'No credit' is the end of the world as we know it. In this case it's just the little guys trying to beat the tax man or Visa.

Wed, 03/20/2013 - 18:30 | 3354421 lolmao500
lolmao500's picture

Well they don't call it the EUSSR for nothing!

Another crisis is about to hit...

US investigating whether chemical weapons used in Syria, if so would cross 'red line': Obama
Obama: I am deeply skeptical it was the opposition that used chemical weapons in Syria (Haaretz)

http://www.sfgate.com/news/politics/article/Commander-Contingency-plans-...
Commander: Contingency plans under way for Syria

Uh oh.

Wed, 03/20/2013 - 18:31 | 3354431 McMolotov
McMolotov's picture

Must. Find. Distraction.

Wed, 03/20/2013 - 18:50 | 3354522 SleepingBear
SleepingBear's picture

It would be hauntingly ironic if we declare a countries' use of chemical weapons as grounds for invasion on the 10 year anneversary of our invasion of their neighbor, on whom we used chemical weapons

Wed, 03/20/2013 - 19:02 | 3354570 lolmao500
lolmao500's picture

And nuclear weapons (DU).

Wed, 03/20/2013 - 19:31 | 3354671 ronaldawg
ronaldawg's picture

and the IRONY if Syria was using the chemical weapons that were transferred from IRAQ by Saddam Hussein before the invasion.  That would be SWEET.

Wed, 03/20/2013 - 21:41 | 3355122 SleepingBear
SleepingBear's picture

serious possibility. it's an ironic region in general

Wed, 03/20/2013 - 19:30 | 3354664 negative rates
negative rates's picture

This is not news, toxic chemical weapons are stored INSIDE syrian borders. The folks we are after, hide in these bunkers, so when WE bomb targets inside syria, WE also hit these stored toxic (derivatives) and actually cause the problem we report on. This gives us a jump on folks like you who got off the right-tangent long ago, and ended up somewhere in crisis.

Wed, 03/20/2013 - 19:33 | 3354677 ronaldawg
ronaldawg's picture

Wow - We (as in NATO or the US) are bombing Syria - when and where please....

Wed, 03/20/2013 - 18:30 | 3354422 localsavage
localsavage's picture

First they force you from cash to cards then they won't accept them....

Wed, 03/20/2013 - 18:31 | 3354426 McMolotov
McMolotov's picture

I keep picturing Kevin Bacon at the end of Animal House screaming, "All is well!!!!!!"

Wed, 03/20/2013 - 18:50 | 3354523 SgtSchultz
SgtSchultz's picture

Dean Vernon Wormer: Fat, drunk and stupid is no way to go through life, son

Wed, 03/20/2013 - 21:34 | 3355080 Carl Spackler
Carl Spackler's picture

Or how about..."Did we give up when the Germans bombed Cyprus?     NO."

Wed, 03/20/2013 - 19:28 | 3354659 SmittyinLA
SmittyinLA's picture

Didn't he get Madoffed? 

Wed, 03/20/2013 - 23:14 | 3355530 Freddie
Freddie's picture

Yup. He and his real Lib wife are libtards.  They invested with Madoff.  F TV, F HOllywood, F the media and Madoff.

Wed, 03/20/2013 - 18:32 | 3354434 Frastric
Frastric's picture

A few weeks of this and Cyprus' economy will have totally imploded.

Wed, 03/20/2013 - 18:37 | 3354464 lolmao500
lolmao500's picture

It's already done. Now you just need to get the pie out of the oven and smell it... then it'll be obvious to all that it's burnt to a crisp.

Wed, 03/20/2013 - 18:44 | 3354496 Cdad
Cdad's picture

See...once again the doomer does not see it.  The economy in Cyprus won't implode!  It will have an opportunity to experience a surge in global growth!

Wed, 03/20/2013 - 18:32 | 3354436 JustObserving
JustObserving's picture

Wake me up when they refuse credit cards in Spain, Greece and Italy .... and then New York.  

Got wealth?

Wed, 03/20/2013 - 18:34 | 3354451 Bunga Bunga
Bunga Bunga's picture

Who cares, BTC will survive.

Wed, 03/20/2013 - 18:35 | 3354460 Lost Wages
Lost Wages's picture

BTC = Bitcoin Troll Currency

Wed, 03/20/2013 - 18:38 | 3354475 JustObserving
JustObserving's picture

Any day now, Western powers will say that Bitcoin is being used by terrorists and drug dealers and declare it illegal.  No one can threaten the Banksters' monopoly on currency.

Wed, 03/20/2013 - 19:37 | 3354690 vulcanraven
vulcanraven's picture

Precisely, I posted the same exact response in a bitcoin thread last week. When the CIA and FBI want to go after Bitcoin, they will. They are just looking for an excuse at this point, so get ready for them to make one up.

Wed, 03/20/2013 - 19:59 | 3354752 wintermute
wintermute's picture

ZH is a website for people with brains, not sh*t for brains. All you people who dismiss BTC without even taking a bit of time to understand what it is - are in the latter category.

Check out RunToGold.com 

http://www.runtogold.com/

Here is someone who is smart, who has both gold AND bitcoin as their hedge against fiat destruction. Do yourselves a favor and READ what he says about it.

 

Thu, 03/21/2013 - 20:59 | 3360052 MeelionDollerBogus
MeelionDollerBogus's picture

I'll stop dismissing shit-coinz when you explain how I can use it with no network and no electricity. I need money that works with neither and never money that requires it.

I'm waiting.

Fri, 03/22/2013 - 08:31 | 3361407 Lost Wages
Lost Wages's picture

I gave bitcoins the benefit of the doubt and thought about them for 1.5 to 2 years. So to believe that everyone who turns down bitcoin hasn't done enough research or hasn't thought about it enough is wrong. Some of us feel very uncomfortable with the idea of digital money and for good reason. You may not know why bitcoin is bad right this minute, but you will discover the hard way if you are not honest with yourself.

Wed, 03/20/2013 - 20:31 | 3354842 Renewable Life
Renewable Life's picture

Man I hope the fucking FBI makes it illegal, my bitcoins will go to $1000 a piece, its a fucking annoymous trasaction people, its global, its got jack shit to do with the US government, they would have to turn the fucking power off or at least the internet to stop it, and that would only stop it in the locations without power, if the coins are in digital form!!!

Get educated, this shit is bigger then some dipshgit government, run by bigger fuck ups and dipshits, I know eveyone like to think the government is this unstoppable, untouchable beast that controls all, but it doesn't!  Most people who are working in Government, cant find their asses with both hands, and that when they are actually working, not jacking off to the internet, watching online videos, or updating their pathetic profiles on facebook!!

Wed, 03/20/2013 - 21:38 | 3355114 toys for tits
toys for tits's picture

People used to think that bit torrents were untraceable as well.  Now there are many people in US jails convicted of exchanging the wrong type of files with others because even the simplest barney fife has access to the tracing technology.

Thu, 03/21/2013 - 01:48 | 3355868 StychoKiller
StychoKiller's picture

Encrypted data looks a lot like random line noise, is the Govt gonna be able to tell the difference?

Thu, 03/21/2013 - 03:08 | 3355958 toys for tits
toys for tits's picture

Here's an appellate order that explains how they do it and that they've had the technology to do it for at least 4 years now.

http://www.ca11.uscourts.gov/unpub/ops/201015682.pdf

Thu, 03/21/2013 - 20:59 | 3360044 MeelionDollerBogus
MeelionDollerBogus's picture

it's not being encrypted. Not for bitcoin transactions CONNECTIONS, not for TORRENTS either.

There's this thing called TRAFFIC ANALYSIS. That part's OUTSIDE the encryption envelope.

Wed, 03/20/2013 - 20:15 | 3354797 auric1234
auric1234's picture

Who cares what government says? If government declares gold illegal, will you turn your stack in?

 

Sat, 03/23/2013 - 03:22 | 3365062 ronaldawg
ronaldawg's picture

They can't turn gold off with a flick of a switch.  The gumbermint and also defeat the crypto keys used in bitcoins.  It is very risky.  Also where are you going to spend them?  Silk Road - it only has useless drugs right now.  (unless you are into drugs, of course).

Thu, 03/21/2013 - 20:57 | 3360041 MeelionDollerBogus
MeelionDollerBogus's picture

awake yet? That day is today. Credit cards are being refused at businesses all over Cyprus now.

Wed, 03/20/2013 - 18:33 | 3354444 robertocarlos
robertocarlos's picture

It also works this way, if you take credit I can pay you $100 but if you demand cash all I have is $40.

Wed, 03/20/2013 - 18:34 | 3354446 Ineverslice
Ineverslice's picture

 

Cyprus residents being RFIDed.

Go back to sleep everyone....You are free to do what we tell you.

 

starve the beast 

Wed, 03/20/2013 - 18:34 | 3354453 IridiumRebel
IridiumRebel's picture

This is why everyone should have a months worth of everything at home.

Wed, 03/20/2013 - 18:38 | 3354474 slackrabbit
slackrabbit's picture

You're paranoid. This time is different! 

:-)

Wed, 03/20/2013 - 19:29 | 3354479 IridiumRebel
IridiumRebel's picture

Go with that!....and yes. I'm a fuckin terrrrrist for wanting to keep my daughter and wife safe.

Wed, 03/20/2013 - 21:16 | 3355015 forwardho
forwardho's picture

Your wife and daughter are belong to us.

Wed, 03/20/2013 - 21:36 | 3355097 Carl Spackler
Carl Spackler's picture

Thank you, Komrade Obama.

Wed, 03/20/2013 - 22:57 | 3355461 lakecity55
lakecity55's picture

Obama, suck my di......wait,

never mind.

Stay in israel.

Thanks,

USA Taxpayerz.

Wed, 03/20/2013 - 21:37 | 3355103 IridiumRebel
IridiumRebel's picture

When my wife had my daughter I felt incredible love for both. You have no clue what is do to protect them. MOLON LABE

Wed, 03/20/2013 - 20:31 | 3354840 Parrotile
Parrotile's picture

Admission of a "Potential Terrorist"!!

Bet you also prefer to pay in cash, and support decent (i.e. home-schooling) education, and all the other things the US Government Agencies have deemed "inappropriate" for the great unwashed!

When "it" happens, it's going to be quite a "Rivers of Blood" event, and we will all be in very uncharted territory after that!

Wed, 03/20/2013 - 21:41 | 3355129 IridiumRebel
IridiumRebel's picture

My weapon of choice is the pen as the greatest of world changers have used that to formidable strength greater than any conventional weapon.

Thu, 03/21/2013 - 00:22 | 3355216 honestann
honestann's picture

One month?  And you plan to do what after one month?

Thu, 03/21/2013 - 01:50 | 3355871 StychoKiller
StychoKiller's picture

Getting set to plant another garden...

Wed, 03/20/2013 - 18:35 | 3354458 dick cheneys ghost
dick cheneys ghost's picture

America: The Arsenal of Cronyism

Wed, 03/20/2013 - 18:36 | 3354465 IridiumRebel
IridiumRebel's picture

Well they are turning this into a total mess.

Wed, 03/20/2013 - 18:42 | 3354478 Cdad
Cdad's picture

No no...I'm hearing that the Russians are going to deposit €130 bilion...so that on Tuesday, they can withdraw €130 billion.  This is being called plan D.

If they simply go with plan B, the ECB and the Russians will deposit €15.8 billion, and after that, everyone in Cyprus will be able to get their deposits back, all €130 billion.  A portfolio manager tweeted this out today, so plan B is sounding pretty sweet.

Also, weighing in was the senior editor of Business Insider, suggesting that S&P companies could each chip in 10 million...and presto...the banks in Cyprus would be all cool.  I'm calling this one Contingency R, even though there seems to be some problems with this idea.

It seems like there are plenty of ideas out there...and one of them just has to gel and we can all get on with our lives, including the ECB which, I'm sure, was just kidding about bailing out banks by stealing depositor cash.


Wed, 03/20/2013 - 18:45 | 3354501 Tyler Durden
Tyler Durden's picture

Perhaps the trillion euro coin's time has come?

Wed, 03/20/2013 - 18:52 | 3354528 Spigot
Spigot's picture

Well, if its gotten so ridiculous that the ECB and IMF thought this would fly (the so called "wealth tax") they truly must be screwed. A trillion Euro coin option might indeed be appropriate at this level of stupid.

Wed, 03/20/2013 - 21:42 | 3355132 toys for tits
toys for tits's picture

Dr. Krugman's already endorsed the TEC.

Wed, 03/20/2013 - 19:09 | 3354596 Cdad
Cdad's picture

A trillion euro coin...lol!  Whose got that kind of money laying around?  And anyway, that is such overkill...as the banks only need €15.8 billion to spring €130 billion on deposit from insolvent banks...and all is cool and everyone is buying Twinkies on Ebay again. 

Maybe what we need here is a €15.8 billion bitcoin?  Let's see...oh...nope...that's going the other way, isn't it....as that would be 750,000,000,000 btc on that 15.8.....wait......ummm.....I'm going to have to get back to you on this one, Tyler....

Wed, 03/20/2013 - 23:39 | 3355608 andrewp111
andrewp111's picture

With Italy, Spain, Ireland, Portugal, and don't forget - France all insolvent, the ECB will need a whole bag of trillion Euro coins.

Wed, 03/20/2013 - 19:19 | 3354628 Bingfa
Bingfa's picture

How about a 85 Billion dollar coin

Mint one every month

It's done wonders for America...

Wed, 03/20/2013 - 20:12 | 3354787 Its Only Rock N Roll
Its Only Rock N Roll's picture

The coin will be struck out of ancient copper mined right there on the Island of Cyprus.  An image of King Ptolemy will adorn one side with a big middle finger on the other.

Wed, 03/20/2013 - 18:48 | 3354517 McMolotov
McMolotov's picture

Tonight I'll sacrifice three goats and dance naked in the moonlight. I figure I should do my part to help out with this crisis, and my plan probably has an equal chance of succeeding.

Plus I'll be drunk, and this is my Wednesday routine.

Wed, 03/20/2013 - 20:37 | 3354862 Parrotile
Parrotile's picture

Woad - don't forget the woad!

(at least the Pagan religions didn't crucify the "unbelievers", or indulge in massive asset-grabs under the guise of "Great Inquisitions" - give us your assets and we just might spare your life - all in the name of the great Roman Catholic Church!

Wed, 03/20/2013 - 21:24 | 3355045 Cathartes Aura
Cathartes Aura's picture

give it up for the Vernal Equinox McMol - the God of War demands sacrifice!  and that would be Ram Horns, head buttin' style.

Wed, 03/20/2013 - 18:50 | 3354524 HelluvaEngineer
HelluvaEngineer's picture

Cdad, just in case, I'm coming up with Contingency plan U, which involves those wedge shaped containers full of pennies outside the McDonalds pay window.  Don't panic.

Wed, 03/20/2013 - 19:15 | 3354617 Cdad
Cdad's picture

Now that's the way to look at it, brother Helluva...a global collection...tin cans on counters everywhere with signs, "Help Russia Oligarchs in Cyprus."  You know, with globalism as it is today, all of us, our arms around each other the way they are today in a global embrace...that just might work.

See...everything is going to be fine, and the ECB was just kidding, anyway.  I'm feeling so much better, I have not had even one martini tonight!  

Wed, 03/20/2013 - 19:35 | 3354683 negative rates
negative rates's picture

Saw a guy try to jump in a pay window lookin for cash, She backed off and threw a large hot coffee at him until he backed down and drove away.

Wed, 03/20/2013 - 18:52 | 3354530 slackrabbit
slackrabbit's picture

They should invest 260 billion - then they could call it Plan Double-D.

It won't work either, but we can stare at it all day!

Wed, 03/20/2013 - 18:40 | 3354480 Bingfa
Bingfa's picture

Jerusalem Editor: "we can't figure out what he's doing here" (Obama)

http://www.breitbart.com/Big-Journalism/2013/03/20/Jerusalem-Post-Editor...

That's OK, we can't figure out what he's doing here either...

 

Wed, 03/20/2013 - 18:43 | 3354495 lolmao500
lolmao500's picture

Didn't they hear? Obama is campaigning for 2016! He's getting the zionist vote.

Wed, 03/20/2013 - 18:48 | 3354512 swissaustrian
swissaustrian's picture

They're talking about the new borderline between Syria and Israel after the war to prevent Assad from using chemical weapons again (wink wink) is over.

Wed, 03/20/2013 - 18:51 | 3354526 Quant Jockey
Quant Jockey's picture

Maybe they'll refuel AF1 with diesel and he can stay a while longer?

Wed, 03/20/2013 - 19:39 | 3354694 a growing concern
a growing concern's picture

Hopefully while in flight. <fingers crossed>

Wed, 03/20/2013 - 22:09 | 3355240 Carl Spackler
Carl Spackler's picture

Expect to see a drone flying over your house.

Wed, 03/20/2013 - 18:54 | 3354538 slackrabbit
slackrabbit's picture

He can't figure out what he's doing (no teleprompter)

Wed, 03/20/2013 - 19:41 | 3354650 Dr. Engali
Dr. Engali's picture

The newly published White House map has a much smaller version of Israel on it..... Just saying.

http://www.americanthinker.com/video/2013/03/m-obama_white_house_erases_...

Wed, 03/20/2013 - 18:45 | 3354500 Bennie Noakes
Bennie Noakes's picture

Mr. Medvedev sounds really upset. I wonder how much money he has deposited in Cyprus banks.

Wed, 03/20/2013 - 19:35 | 3354684 SmittyinLA
SmittyinLA's picture

he's hip and uses Delaware corporations, they're more secure, they're protected by a govt that's "always for sale"

Do NOT follow this link or you will be banned from the site!