The Joke's On Cyprus After All

Tyler Durden's picture

Oh the irony:

18/01/2008, Trichet: "For a small, open economy like Cyprus, Euro adoption provides protection from international financial turmoil."

(h/t @BrunoBrussels)

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Cdad's picture

...and 1.1 millioin more folks find themselves Triche'd.

RacerX's picture

so this is the EU translation of being "Corzined"?

redpill's picture

Sounds like their Euro membership just got rehypothecated.

Dr. Engali's picture

Vaporized is the word that came to my mind.

The Juggernaut's picture

Wow... this just corraled thoughts for a global currency.  Complete bullshit.  Getting back to Sovereign countries.

redpill's picture

You could be a very responsible person, diligently planning ahead, big savings account, thinking about the future.  But if you rely on that system, at any moment they who control the money can turn you into a beggar overnight.

localsavage's picture

Then again, you had money in the bank making shit interest and being devalued by massive printing as your way of saving for your future.

macholatte's picture


Then again it was the people with the guns who make the laws who told you what was safe and how to be a good sheeple and have a long happy life and you listened to them. In fact, "they" believed it themselves.

Soros must have the biggest hard on right now he doesn't even need any viagra. 

Panafrican Funktron Robot's picture

It's open season on the euro currency.  It's the only one left that's non-trivially difficult to manipulate, ergo, that motherfucker is getting steamrolled.  

tooktheredpill's picture

Trichet should become a stand up comedian - I'd pay good money to go see him

Buck Johnson's picture

Big time, this is going to end real badly for the govt..

Ms. Erable's picture

A good question is:: why is Corzine free and unindicted?

A better question would be: was hasn't someone already fragged that Corzine motherfucker?

Vashta Nerada's picture

Bundler, the new get-out-of-jail-free card.

mkhs's picture

Fragged- one of the praetorian guard backstabs the MF'er. (Pun intended)

DosZap's picture

According to Sinclair this is going global,and BERNIE is now leaving the post.He will not seek election back to the position he holds.

He is GETTING the hell out, as this trainwreck is headed our way, and does not want to be around when it happens.

Read the interview on King World News.

Stoploss's picture

Hey..   " When it get's serious, you have to lie "  JCJ

notbot's picture

When it becomes serious, you have to lie

wee-weed up's picture

Sex, Lies, and ECB Lies.

holgerdanske's picture

When it gets really serious, I will lie down and think of my gold, nicely planted near the appletree, while the rest have a go at the ATM with a bulldozer.;-)

debtor of last resort's picture

When you fuck things up on purpose, you have to die.

Vashta Nerada's picture

They thought they were being inoculated, when in fact they were being infected.

Jena's picture

You really don't know what is in that vaccination.

Panafrican Funktron Robot's picture

Pretty sure it involves "bunga bunga".  

Jena's picture

In that case, there isn't much left to the imagination.

slaughterer's picture

Just let the Russians turn Cyprus into a nuclear missile base and everything will be fine .....   for WW3.  

skistroni's picture

It obviously does not provide protection against intra-national Eurozone turmoil or, to put it more bluntly, fuck-ups. 

Moe Hamhead's picture

Now that's funny!!!

ziggy59's picture

Is Trichet Corzines' clone?

machineh's picture

I thought Trichet was doing a stand-up comedy tour with Greenspan.

But maybe he went back to playing piano in a Paris whorehouse.

sessinpo's picture

I find this type of comment interesting as I don't see the comparison.


Corzine was/is a liberal incompetent thief that probably broke laws by co-mingaling client assets with company assets to cover bets.


Trichet is part of a mob banking cartel that is now trying to force its customers (the ones that borrowed and spent more then then could afford) to pay up.


Yes, both are thieves and need to be at least thrown out of office or position of power and face some other additional punishment.  Corzine blatantly stole from customers to cover his own bad bets just like Madoff. In the situation of Cyprus and most other EU nations, those governments (usually democratically elected with some exception) willingly participated and borrowed and spent beyond their means. The Central Banks are nothing more then Financial Mobsters. Yes they are bad, but they didn't steal by loaning. They steal by devaluating the currency. Cyprus faces a situation of not being able to repay loans like other EU nations. This is nothing different then in the US. We have this massive deficit because the American public continues to vote in these liberal politicians (many of them republicans) for decades that ran up these debts.  This is the bed America has made for itself as well as Cyprus and Greeece and ....


You get into bed with mobsters, well what do you expect?


I feel bad for those citizens. Most were fooled. But isn't that why they want to dumb down the population and keep them gun free? Isn't that what they are trying to do here in America?

ebworthen's picture

"Said the Spider to the Fly."

Zymurguy's picture

you fucked up... you trusted us!

THX 1178's picture

You shouldn't a dun that. What were you thinking? I'm ME after all.

insanelysane's picture

All that's left to do is to have a parade.  Can I buy 10,000 marbles?

PUD's picture

Oh let's praise his holy name! Thank you money gods! Thank you for everything!  Troika trinity amen

Dr. Engali's picture

"At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained."


                       The Bernank

Debugas's picture

i thought cyprus government and parliament people are more clever and they understand the situation (namely that their banks are dead). But it seems they are clueless and still do not understand that simple fact - their banks were destroyed by the troika by the very simple suggestion of "levy on deposits".

If i were in cyprus parliament i would sue the troika for destroying cyprus banks with intentional rumours of defaults thus causing the run on the banks

Piranhanoia's picture

Sounds a lot like a protection racket?   

Cursive's picture

The quotes we'll be replaying on BernanQE once he's gone will make this look like cake and tea.

Bingfa's picture

I bet Pension funds are about to get raped also...

"Among the other options, nationalizing pension funds of semi-public companies could yield between 2 billion and 3 billion euros. Issuing bonds linked to future natural gas revenue is problematic because pumping any gas is years away."

McMolotov's picture

What they really meant:

"For a small, open economy like Cyprus, Euro adoption provides a clear path for takeover by bankster assholes."

hedgeless_horseman's picture



...a clear path for takeover by Russian oligarches.

walküre's picture

I would have believed him in January 2008. But then again, I believed in alot of hyperbole back then.

Ham-bone's picture

Staaaaabillllliteeeeee!!!  No???

dick cheneys ghost's picture

The Daily Ticker's Lauren Lyster discusses Texas' proposed gold legislation.