Unsecured Depositors Of The World, Unite... And Get The Hell Out Of These Countries

Tyler Durden's picture

Based on the most recent data, JPMorgan notes that the share of large or uninsured deposits is likely to be close to half of total deposits in the European Union. With deposits already flowing out of some of the peripheral EU nations...

(as we warned here)


we thought it appropriate to point out just which nations have the largest share of uninsured deposits (and are not yet under the ECB's 'standard of living' capital controls). It seems - among many others - that despite France throwing in the towel on the 75% income tax, there is another good reason for the wealthy to leave...


The only reason why Europe has been slow to impair its loans (as shown by the artificial rise in Italian and Spanish bad debt) over the past 4 years, is that a full representation of reality on the asset side (such as that which finally caught up with Cyprus) would lead to a dramatic collapse in balance sheet assets, requiring a comparable crunch on the liability side, where unsecured liabilities such as deposits would certainly take a big hit as well (especially if an equity cram up such as that of Citi is required to preserve the equity tranche).



Which is why the only thing preventing a "Cyprus-type event" from spreading to other nations is the gradual, determined bad debt impairment.

Of course, should there be a risk flaring event and banks are forced to remark bad debt to reality, what just happened in Cyprus will be a gentle breeze compared to what would come.

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Mongo's picture

Haircut bitchez!

macholatte's picture
Unsecured Depositors Of The World


Wait a minute,  According to Cyprus, ALL deposits are unsecured.

DoChenRollingBearing's picture

Ideally, each of us should get to the point where money in the bank IS diversification, he he...  After all, keeping ALL of your money and PMs at home might be a bit risky, why not leave a little (in the USA anyway) in the bank where a random burglary will not ruin your life?


And to be able to write checks, use credit cards, etc.  SMALL amounts in the bank: for diversification!  :)

knukles's picture

Disintermediation, Bitchez!

Bank runs, deposit outflows gotta be replaced by "sumptin' else Lichi"* like loans from the ECB, BoE, Fed, whateveritmayB...
Lending Grounds to a halt (as if there was any, anyhow)
Withdrawal caps
Cash only society
Fucking everything shuts down
Liquidiy Trap Deluxe
Credibility Tarp Deluxe

Panic in River City

Root for the bread lines!

All Hail The European Union!
And just think, all because of one stupid idea...
Buncha fucktards.


* courtesy Desi Arnez

ihedgemyhedges's picture


toys for tits's picture

There's a new organization called "Mothers Against Dyslexia", or DAM.



Like most things it's better orally.

Kitler's picture

No need to worry people. You can be certain that by now the Bank Of G-d and the ECB have all of the bases covered.

Odds are that there is a warehouse somewhere with around $60T in globally denominated currencies just waiting to be FedExed to the angry queues that will soon be forming.

This is just the inflationary ticket we need to get our Western ponziconomies up and running again, provide relief from our debt burden, make us competitve with the East and keep our bankers happy.

HD's picture

FedEx owns a fleet of wheelbarrows?

GetZeeGold's picture





Those bankers are forkin iceholes.....bunch of bastages!!!!

edb5s's picture

Beats the hell out of a helicopter!

PiratePawpaw's picture


Unsecured Depositors Of The World, Unite... And Get The Hell Out Of These Countries"


Or just realize that you were total fools for having any deposits anywhere.....

Mr. Lucky's picture

You're going to need a bigger boat.

Awakened Sheeple's picture

I bought a $400 portable generator, filled up all my gas cans, batteries etc today. Spent about $700 bucks total. Krugman would be pleased.

GetZeeGold's picture



Next thing you need to do is breakout all the windows....and wait for the relief.

Jonas Parker's picture

And the dyslexic agnostic - wondered his whole life if there really was a Dog...

akak's picture

And worrying whether his mother will be serving keys and parrots at dinner the next day.

Stuck on Zero's picture

Fortunately the dyslexic's Mother's name is Ada and the Father's is Bob. 

jeff montanye's picture

and she's been deified while he still drives his race car.


A Nanny Moose's picture

I though it was DAMM. Drunks against Mad Mothers.

NeoLuddite's picture

Dyslectic agnostic insomniac lays awake every night wondering if there really is a doG.

max2205's picture

Bad debt is like the in law that visits then never leaves

RafterManFMJ's picture

I gave ya a thumbs up Neo, but careful; this place doesn't like smack talk about insomniacs.

New_Meat's picture

actually; lysdexicks, but well ... :-)

DoChenRollingBearing's picture

That too, Bitchez!  Paper fiat$ > electrons in the bank.


Diversification, disintermediation, schmuckification.  <--- No difference!

Skateboarder's picture

"How much money is there in the whole wide world, dad?"

"A jillion dollars"

"Isn't the next bailout a jillion dollars?"

"Yeah, but the TV says we'll be alright. Now shut up and eat your horsemeat."

JohnG's picture



The FDIC has around $25 billions insuring well over $9 trillions in deposits.

The US should be on this list.

Mordenkainen's picture

Well, $25 billion plus Ben's helecopters (which is to say, plus infinity).

flacon's picture

What the fuck do you mean I can't take an electron out of the ATM machine! That-a-my-a-money! That-a-my-a-money! 

pods's picture

I think I am going to watch Outbreak.  

Seems fitting.


JohnG's picture

I watched 28 Days Later last night.  Seriously.

dark pools of soros's picture

more like Pretty Little Liars if it was recast with old bald jews

toys for tits's picture

The International shows what this corruption would look like if it was on a small scale.

Prometheus418's picture

Justified for me, and that'll work in my neck of the world.

flacon's picture

I watched Hells Kitchen on my wife's laptop. IT'S FUCKING RAW! GET OUT! GET THE FUCK OUT OF MY BANK!

MisterMousePotato's picture

The Road.

Much cheerier than your selections.

pods's picture

People should not be afraid of their governments, governments should be afraid of their people.


pods's picture

That one was in my head, but I didn't want to go there, having kids and all.


MisterMousePotato's picture

That's what I suggested above (hadn't gotten this far yet). Always cheers me right up.

snakeboat's picture

Jericho's close to what may come...

fonzannoon's picture

they need a new version of outbreak where they end up just firebombing the town.

JohnG's picture



Nuke it from orbit.

"It's the only way to be sure." --Ripley

GeezerGeek's picture

I prefer Kelly's Heroes, because the good guys get the gold.