Cyprus Popular Bank: "Only A Few Hours Of Liquidity Left"
It appears, based on government officials, that things are going a little critical in Cyprus. Following rumors of the closure (restructuring) of good/bad bank assets for Cyprus Popular Bank, we get this news:
- *CYPRUS'S NEOFYTOU SAYS NEW FACTS RELATED TO CYPRUS POPULAR BANK
- *CYPRUS HASN'T HAD ANY FURTHER NEWS FROM RUSSIA: OFFICIAL
- *CYPRUS POPULAR BANK HAS "FEW HOURS OF LIQUIDITY LEFT": OFFICIAL'
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*CYPRUS'S NEOFYTOU SAYS NEW FACTS RELATED TO CYPRUS POPULAR BANK
There's never just one cockroach....
http://i50.tinypic.com/1orjn9.jpg
This is just the first domino to fall.
What a sucky day for those who bank there. Im so happy i found ZH 2 years ago and now sleep soundly with my PMs by my side.
Don't worry. The Deposit Protection "Scheme" (google it) funded by the Cyprus central bank or national bank or whatever ... who knows? Is supposed to pay out.
Right, I fucking believe that.
This is it. Code Red. Black Swan. End of the line. Game Fucking Over.
Is there a CDS protection scheme?
Larry Motherfucking FINK is long vol and CDS
There has to be a way to short this living shit out of this situation. Come on, someone on ZH, tell us how to make some fiat off of this. All my PMs hit the bottom of the lake, so I need some help here.
You could try day trading Fannie Mae stock.
Viva Monte Carlo!
http://www.boursorama.com/cours.phtml?symbole=1rPCAC7S
Does this bank have a derivatives structure it might default on? If so, it might prove very very destructive. Unless it gets a bailout.
I just realized "Unless it gets a bailout" could end every sentence and every post on ZH and still make sense. Unless it gets a bailout.
@HoofHearted
The best way to short this is to get long Food, Family, Friends and Firearms.
All my family and friends don't have time for gold, guns and food. It's sad.
@jvetter713
Houston area code? Your comment reminds of an old LSU jab to oppossing fans, "You're either a Tiger or Tigerbait."
TighaBait...TighaBait
You can't short a centrally planned market, they are the only one who can!
Long Polonium. Putin has a lot of ECB banksters on his list.
Credit event bitchez!
I smell a new definition of Treaty about to hit the streets
CDS on all Russian paper is spiking for some reason.
And our own FDIC insurance fund is there for us, so no worries for Americans, either... It bears repeating:
Fractional reserve banking: 10% of the time, your deposits are safe every time.
In Europe it is 1% of the time.
A fraction of fractional reserve banking. Even more reassuring.
ECB bank reserves are 1%.
When would Europeans ever want to get more than 1% of their money out of the bank? Are reserves more likely to be needed under normal circumstances, or abnormal circumstances?
http://www.zerohedge.com/news/2013-02-27/bank-deposits-decline-across-europe-january#comment-3282115
Did they "stress" test this baby while sitting on the beaches of Phuket?
"I'm schocked, schocked I say, to see that gambling has been going on here, Rick". 1%-that's not a very good bet.
That one phrase is worth its weight in gold, so to speak.
The term 'reserve requirement' is an oxymoron in a system of fictional reserve banking.
P.S. According to this (non)paper, circa 18% of European countries have 0% RR... Booyah!
FAZ 11 calls that expire next week are good for a shot. If shit does hit the fan next week, nice reward to risk ratio on that trade.
"a few hours of liquidity left"
Ah, bankerspeak. Leave it to them to come up with a fancy way to say "we're broke."
This is a great teaching moment about fractional reserve banking. With the natural question "what happened to the money?" one can only hope that the truth begins to dawn on people: it never existed to begin with. There is no spoon. It's a giant fucking fantasy world. When you got your "paycheck" it was from a bank that printed numbers on a piece of paper, and you went and "deposited" it some other bank changed some numbers on a computer. YOU NEVER OWNED ANYTHING, you only served as a paper transport service from one bank to another.
Whew! And I thought things might go bad today. Dodged a bullet there.
"a few hours of liquidity left".... no different than any other bank... they just need to call the FED..problem solved
I watched rollover last night for the first time. Probably not going to see a remake of that movie anytime soon. Surprised it got made in the first place.
'The important thing is'... no central banksters take a bonus cut.
Gee, this type of day is what CNBC blowhorners get paid the big bucks for I guess...trying to calm the sheeple 401K Bathrobe Brigades while their pensions are obviously in the next slot to get molested by the Maniacal Monetizers.
I venture a guess the Cyproits were disarmed long ago, Sandy Hook 2.0 any day now, the end is upon us.
"There is no spoon."
Keeping true to character today, I see.
Indeed, it was never real. It has not been real for 300 years. And even the awake are a ways yet from understanding that.
and........it's gone
Oh come on, redpill. You're a bit of a drama queen here. I know what I will do. Monday morning I will go to the Barclay Bank and put there all my hard earned money. Who in their right mind wouldn't trust a bank with a banker like Rich Ricci? Look at Rich Ricci: Why don't you want to trust a man like this, redpill?
http://i.dailymail.co.uk/i/pix/2013/03/20/article-2296456-18901D71000005...
----
http://www.dailymail.co.uk/news/article-2296456/Rich-Ricci-Barclays-As-a...
Cue the Snidely Whiplash music. You young'uns won't get that.
.
30 days. Every time.
"This is just the first domino to fall."
This is where desperate men begin to do desperate things. But remember that there are different levels of desperation, spanning the full spectrum from empty belly hungry to wild-eyed-trample-the-person-in-front-of-you-for-a-loaf-of-bread abject fear. And that's just the banksters.
<BTW the miners seemed to be getting a lift today.>
<BTW the miners seemed to be getting a lift today.>
Hmmm...perhaps there were some very wealthy people among Jim Sinclair's audience yesterday.
Just kidding – or am I?
We're now seeing what happens when you yoke together an ox and a donkey. But the question remains, who's the jackass?
The person that did the yoking in the first place; was obviously suffering from a serious case of reality denial; eg. was a "Jackass".
Why Jim Willie is the Jackass....
forget this..apple is up 1%....lets keep it perspective fellows.....and the housing market is on fucking fire...ive gotten 6 above asking offers on my place and im not even selling the fucking thing........
My good man...I believe the term is "transitory"...paper "wealth" is transitory. enjoy it while u can. My wifes a realtor and shes killing it but we're not exactly putting the money in the bank, rather something a little more solid.
i refuse to use a sarc tag.....
a bull can hardly sustain itself on an 'apple' a day... but the bear-- well, he'll be gorging on 'redink'dmeat' by morrow's end, when the banksters start hemorrhaging blood!?