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Unsecured Depositors Of The World, Unite... And Get The Hell Out Of These Countries
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...
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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Haircut bitchez!
Wait a minute, According to Cyprus, ALL deposits are unsecured.
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?
EDIT:
And to be able to write checks, use credit cards, etc. SMALL amounts in the bank: for diversification! :)
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
DYSLECTICS OF THE WORLD: UNTIE!!!
There's a new organization called "Mothers Against Dyslexia", or DAM.
Like most things it's better orally.
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.
FedEx owns a fleet of wheelbarrows?
Better...
http://www.google.ca/imgres?imgurl=http://www.heavyequipmentforums.com/a...
DYSLECTICS OF THE WORLD: UNTIE!!!
Those bankers are forkin iceholes.....bunch of bastages!!!!
Doubleplusbetter.
http://www.google.ca/imgres?imgurl=http://blogs.princeton.edu/great-imme...
Beats the hell out of a helicopter!
"
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.....
You're going to need a bigger boat.
I bought a $400 portable generator, filled up all my gas cans, batteries etc today. Spent about $700 bucks total. Krugman would be pleased.
Next thing you need to do is breakout all the windows....and wait for the relief.
And the dyslexic agnostic - wondered his whole life if there really was a Dog...
And worrying whether his mother will be serving keys and parrots at dinner the next day.
Fortunately the dyslexic's Mother's name is Ada and the Father's is Bob.
and she's been deified while he still drives his race car.
I though it was DAMM. Drunks against Mad Mothers.
Dyslectic agnostic insomniac lays awake every night wondering if there really is a doG.
Bad debt is like the in law that visits then never leaves
I gave ya a thumbs up Neo, but careful; this place doesn't like smack talk about insomniacs.
actually; lysdexicks, but well ... :-)
That too, Bitchez! Paper fiat$ > electrons in the bank.
Diversification, disintermediation, schmuckification. <--- No difference!
Zzzzzzttt.....and it's GONE!
"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."
The FDIC has around $25 billions insuring well over $9 trillions in deposits.
The US should be on this list.
Well, $25 billion plus Ben's helecopters (which is to say, plus infinity).
Welcome to hell.
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!
I think I am going to watch Outbreak.
Seems fitting.
pods
I watched 28 Days Later last night. Seriously.
V for Vendetta
Logan's Run...
more like Pretty Little Liars if it was recast with old bald jews
The International shows what this corruption would look like if it was on a small scale.
Justified for me, and that'll work in my neck of the world.
I watched Hells Kitchen on my wife's laptop. IT'S FUCKING RAW! GET OUT! GET THE FUCK OUT OF MY BANK!
The Road.
Much cheerier than your selections.
People should not be afraid of their governments, governments should be afraid of their people.
pods
The Road
That one was in my head, but I didn't want to go there, having kids and all.
pods
That's what I suggested above (hadn't gotten this far yet). Always cheers me right up.
El Topo
Jericho's close to what may come...
they need a new version of outbreak where they end up just firebombing the town.
Nuke it from orbit.
"It's the only way to be sure." --Ripley
I prefer Kelly's Heroes, because the good guys get the gold.
"...where a random burglary will not ruin your life?"
I don't think most ZHers are worried about burglary - but God do we need some water safety courses - think of all the unfortunate boating accidents.
Funny but the water closest to me has natural heavy metal (au) contamination.
pods
When does a haircut become scalping?
Only if your field of vision is limited to the Teller's windows. There are a whole bunch of members of the club who are getting the exact opposite message from the Troika, bank wherever you want, we'll fuck the peasants (and non-member oligarchs) day and night to keep your balance sheet and (most of) your bonus whole.
Ukip urges Brits to withdraw their money from Spanish banks Nigel Farage has urged British expatriates in Spain to pull their money out of the country’s banks.
http://www.telegraph.co.uk/news/politics/ukip/9950083/Ukip-urges-Brits-t...
TALLY HO, Bitchezzz!
Do not forget about Japan, which is once again being forgotten as a concern now that Europe is back in the spotlight. With most of their bond market held domestically and their years of high savings rates, there is an enormous pool of capital waiting for either capital controls or confiscation:
http://www.ftense.com/2013/03/how-to-short-japanese-yen-government.html
If you have not read it yet, check out the new ZH article in Japan:
http://www.zerohedge.com/contributed/2013-03-23/forget-cyprus-japan-real-crisis
Millions of Japanese folks holding the country's bonds don't need to be worried about confiscation. They need to be worried about the biggest arbitrage/crash trade of all time. Hedge funds have been lining up for decades to punish those folks, and said hedge funds are about to have their day in the sun.
Europeans live off debt. If they actually had to live off of their productive labor, they wouldn't enjoy the quality of life they do. With the exception of the remaining big industrial exporters (Germany and the junior Germanies), the Eurozone economies produce very little but the people have grown accustomed to a certain qualify of life that they "deserve", and the politicos and banks will do everything possible to accomodate that ... up to and including insane debt levels and 50%+ unemployment. The whole thing is a farce.
The "developed" and "developing" economies are converging. That is very bad news for Spaniards who think they merit and will receive $40,000 a year salaries for the rest of time, along with generous leisure time and strict union protection. It will probably end up being great news for those people who actually produce the junk the world consumes, who actually grow the food the world eats, you know, those old fashioned people who still believe in productive labor and who mostly reside in the "developing world" and a few pockets of the First World.
Free markets renumerate free productive labor. Government-controlled economies and financier monopolies reward entitled, privileged social groups while stealing from the productive.
Need some clarification on those charts above.
If deposits are not above $100K (black portion of bar), then why are they 'non eligible' (blue portion of bar)?
Might be important to the 'ineligibles,' whoever they are.
I think that means, not eligible for the "levy".
that chart is misleading in not just one aspect. it is misleading because some of the countries noted, at least to my knowledge, have their own currencies, not euro; thus, it is not clear if the "ineligibles" are deposits in their own local currency or in euro. if those are not euro deposits in non-euro countries then the point of this article was sorta miss
Well - first - I know that at least one of the countries you are talking about, have politicians who are more European than their own nationality, and they have been so enamoured with the thing, that they have joined the fiscal compact or whatever it is called administratively without a vote even if the country is not a member of the Euro. This means that EU can empose penalties on said country, if its finances becomes more strained. And believe me it will, when the biggest banks start falling.
Second - a bankrun doesn't care which currency is in play, because the banks are so intertwined that, when the dominoes start falling, the currencies in play does not matter much.
What matters is the interlinkedness of the financial mushroom clouds and the news covering them.
Here is a hint from the U.S. FDIC about those 'non-eligible deposits':
Financial firms such as insurance companies and mutual-fund companies are able to join the payments system in certain countries, which allows such companies to offer products with the characteristics of traditional deposits.
Countries take different approaches toward the issue of membership for non-bank financial companies—finance companies, credit unions and cooperatives, for example—that offer deposits and deposit-like products and are subject to an appropriate level of prudential supervision.
There are many cases where non-bank financial institutions are not eligible for membership. The most common reason for excluding these institutions is that they are subject to less stringent supervisory standards. For some countries, a different governmental authority licenses non-bank financial institutions. In such cases, extending membership may lead to constitutional or political issues that are difficult to overcome. Some countries have addressed this problem by establishing a separate insurance system or fund.
Link to Word document at FDIC:
http://tinyurl.com/c9qnlvd
So in other words, we're talking about the non-bank financial sector, and some of the Shadow Banking system as well.
Evidently, in some countries like Italy, it's 'u-u-u-uge' (as the French like to say).
@ChrisFromMorningside
A great post. Wish more people shared your understanding.
Ergo....Brussels
"Europeans live off debt."
Who doesn't? The US is even worse.
Outsourcing has taken place in other countries besides the US. The impact has been profound on blue collar works as tech and factory work leave and the money just stops flowing. There are firms specifically designed to take jobs to cheap labor. Globalization is leaving the middle class high and dry.
The way one is accustomed to living is one that is found in a 1st world nation in a job which pays a wage that provides a way of living...on the good side of town. On a scale of wage earners in specific industries, So what? Got a problem with that? or do workers have no rights.
The jobs dried up just when the US credit extension of biblical proportions ended. What do ya know...this is a banker's game, ruin the customer financially and laugh all of the way to the bank. Then start all over again.
http://www.globalchange.com/outsourcing.htm
"Outsourcing incentives are huge - and can lead to falls in service costs of 50-60%. Up to half of the $19 trillion spent every year by European companies on sales and administration could be outsourced. Despite the publicity, outsourcing is most often to companies in the same nation - for example ISS employs over 500,000 local people in catering, buildings maintenance, facilities management, cleaning and security for hospitals, schools, government buildings, factories and offices."
Keep only what you "need" in the banking system, get real assets like gold and silver. They are not to be trusted!!
http://schiffblog.blogspot.ca/
to the letter!
Happy birthday!
You're no longer in your 'terrible-twos'.
(You can stop your flailing now.)
Fine for 'home-bodies'. For those who travel abroad, having foreign cash, etc. needs to be added to this list. If you got bucks, you don't need to be told about corporations or trusts.
Dust in the wind.
How the fuck can someone ding that one?
Sorry Scro,
Welcome and +1!
http://www.youtube.com/watch?v=tH2w6Oxx0kQ
pods
They can't keep the game going anymore, time to kill this monster.
Haircut, the latest euphemism for theft. Who comes up with this crap? I remember when Dukakis came up with "revenue enhancements" to replace the word, "taxes."
I wonder if the Russians will enjoy their haircuts? Let's see how many of these clowns are willing to face the KGB for this cabal of banker sociopaths. You see, Mr. Putin is an honest man and always generously repays acts of kindness.
They took our jobs!
What difference does it make if deposits are uninsured? It seems the distinction only matters if the guarantor is solvent, and nobody involved in this fucking fiasco is solvent. Including the United States.
No but the Fed or BoE can lend the money into existence, unlike the Cyprus central bank who get Nein from the ECB.
Theft by inflation instead.
There is a limit, ask the people of Zimbabwe!!
Bernanke and the Fed admire how quickly Zimbabwe's stock market shot up when their currency crashed.
The Fed also admire's Zimbabwe's hyperinflation, although the US government would hide it by cooking the numbers.
Bingo.
put my money in RMB bitchez. That's the winning currency.
I surely hope you're joking. otherwise, get out of that position asap.
You'll lose 20% this year alone.
Either way, the dominoes have started to fall again and Troika is burning up what political will is left to deal with the situation. The next event will be the one that makes the Euro breakup inevitability apparent to the ones who don't see it.
when is the ecb going to go full blown QE so I can get back to watching the tournament?
Fiat in a bank = nakedness ! Fiat in mattress = figleaf ! Gold in a hole = fully clothed !
Skimming your post I stopped and read it because I thought it said "glory hole," but realized it didn't say that, so I just moved on.
Worlds biggest bank run is about to begin (if it hasn't already). If these leaders think that people in other countries (including ours) will not pull out money they are seriously mistaken. Congrats to Iceland for not going down this road. I'm sure they are laughing at the bailout after bailout that doesn't work. Maybe time to convert to some dollars to Krona?
Does their greed blind them to the fact that if they keep talking about capital controls and haircuts within two weeks bank runs around the world will expose the mass insolvency they are trying to hide? It's like they are trying to bring it down, order out of chaos here or just dumb shits at work here? *scratching head*
What I find remarkable on graph 2 is the total amount of deposits in LU, MT, IT and UK that are not insured at all. Like over 80%. What does the graph include? It can't just be bank/building society/credit union money.
"If this is successful [Cypriot deposit levy] then it will be used in the future," said the dejected official, predicting Spanish and Italian banks could face similar levies. "If this is not successful then who cares about Cyprus.""
http://www.cnbc.com/id/100561018
Right attitude by the Minister of Feeling Good About Society And Ourselves....
"... who cares about Cyprus"
Jesus H Fucking Christ!
Who
The
Fuck
Is
In
Charge?
This is the Real Lunatics Taking Over The Asylum!
M&T bank. Crapitol one. Ect. lol
Unsecured depositors of the world unite, you have nothing to lose but your bank liabilities ... and privileged debt-and-oil-enabled existence!
Wasn't it about a year or so ago that Bank of America transfered all their derivative exposure to the depositors of the regular bank from their investment bank? I believe, should the investment bank be called on derivatives, the money deposited in the regular BOA bank will be taken to pay the derivative exposure kinda like MF Global. So we took our money out of BOA. It wasn't making any interest anyway.
When ML was crammed down on BoA, there was a deal written into Fed regulations that very few remember.
That is, that the parent company (in this case BoA) can "downstream" any borrowings from the Fed to any affiliate (in this case ML) for any reason.
So regardless, the deposit base is at risk for any amounts over an insurance cap. Assuming the cap is honored. Which is likely as it's Full Faith and Credit and in past cases, never really needed.. as there have not usually been US wholesale runs on the failed banks.
Yeah, IndyMac photos, etc. Somebody always panics... but there have never been stupid shit like the EU proposed about levies.. and thus, no runs.
Now that's just recent history
Who knows what dumb ideas lurk in the hearts of people.
And talk about ignoring the canary ion the coal mine....
Nobody's been talking about US money market fund exposure to European Banks.
Du-fucking-H
Shit knuckles I was reading they were going to crack those money markets open just for fun, see if they could shove that money into the market. Now they will just crack open the hard way and send everyone running the wrong way. I am amazed at the stupidity of this whole thing/.
Removed mine in April 2012. Been almost a year and I don't miss those bastards one bitcoin.
I wonder if Bernanke is enjoying his weekend
It is easier to remove the cancer first. If you believe the cancer resides within the isolated banking sector, go to plan A. If you cannot save the bank, go to plan B. Plan B will point you to central planners policies and the insolvent Central Banking expansion. I’ll let you discover the truth.
Just a bit of advice to salivate over..
If there are massive bank runs....will interest rates go up?
Uncle Ben has no QE exit strategy. Bank runs will be his new blame game to overt deflationary measures by jacking up interest rates.
not if the banks only give 100 euro's a day max. than rates may even go down if capital controls are tight.
On what?
treasuries... nope, gonna fall
low grade stuff... rise
It all depends
The Central Banks of the World will Flood New Money on an Infinite Basis.
What else is new?
Somebody junked you. Prolly on your treasuries remark. It was too logical.
if there are massive bank runs, it won't matter what interest rates are..you won't have any money to earn any interest...
http://www.youtube.com/watch?v=jrLbY4-Q99A
I don't feel secure about any deposits.
That’s what all women say when you promise to pull out.
ur doin it wrong...
"That's what she said"
fify
"checks in the mail" and "i won't come in your mouth"
So... the bigger the socialist paradise, the less insured? What a surprise!
In socialist worker paradise nobody need you guarantee.
Big brother take care of you good from cradle to grave
Everything free
Listen... this is the dream of socialism
Everybody shares in the country's riches, nobody need more than the other guy, everybody is equal...
I wonder what the rate of uninsured in Canada is... after all, it's quite a big socialist paradise. Two of my friends work in the banking system across Canada in two different provinces and banks... and guess what, people are not withdrawing their money... in fact, they are even putting more in...
Canadians are as clueless as Cypriots were 2 weeks ago.
Whatever happened to the Canadian housing bubble I keep hearing about. Soft landing or are they just letting the bubble fly in the wind after blowing it up? ...Pop.
As a Canadian real estate investor I have been waiting for the bubble to pop since 2007. Still waiting.
Strongly suggest ppl do their home and see which countries did NOT buy up oodles of toxic US assets. Then you'd see that it includes Canada, India, Germany...
Whatever 'debt' they have is mostly internal -- toward each other. Hence, no external triggers as a forced move. In Canada, the 6 largest banks fail only if the entire country collapses. Asteroid, anyone?
But I AM curious on the stats of the Big 6 (RBC, TD, CIBC, BMO, SCOTIA). I see that HSBC is already on the list, but HSBC.ca might be legally firewalled from the rest.
Get real, the Canadian housing market will collapse as soon as the reality hits the US... then it'll only get worse from there as a lot of mortgages are insured with the government... the government will basically bail out the banks...
Pulled a bunch out today. The people I know think "all is well". I try to get them to look at the data but they tend to believe the meme. Had a conversation with a co-worker on Thursday and his response to the Cyprus events was that they deserved to be robbed because, "if you live beyond your means for too long you have to pay sometime". He did not understand that the people were not the ones who lived beyond their means, but rather the banks.
People I know, for the most part, don't see "it" coming. I leave them to their beliefs and do what I can to protect myself.
P.S. most Canadians don't believe we are in a housing (and credit) bubble. They tell me that real estate is a good investment because look at how much it has gone up from twenty years ago... They don't understand that this is a representation of inflation rather than an increase of value.
I moved a bunch of Money from BMO to our local Credit Union. BMO made a giant stink about it...so much so I'm getting everything out of there. They rank at the bottom of the big six and have a ton of US exposure with their Harris Bank in the US. TD is another one to be very careful of...very big US exposure. Our local Credit Union simply does not lend outside our area. And despite the entire world collapsing our area has yet to see a whiff of it.
money under your bed is the safest.
interest rate? who's going to pay you and with what?
Again, depends. On how much you got and how mobile you like or need to be. Plan accordingly.
And no one else seems to care. I can hardly find any reports on this in the MSM. Why am I NOT surprised.
I agree completely. I see MSM doing the happy dance. We have a soaring US market. A quick check of Europe and most of them are doing well, too. I have no idea what is going on. People tell me that the markets cannot be manipulated forever, yet I see that printing gets close enough to "forever" that it doesn't really matter. I for one am getting pretty sick of hearing various bearish gurus telling me "this will not end well". So what will happen first, the mythical bond vigilantes will attack, the central banks will admit the error of their ways or the sun will go dark?
sunny
Get the hell out of Belgium to. The new crisis taxes will soon be implemented and the government has also decided to make a inventory of all private accounts. And as it's also been mentioned for a entire year now: all that money in ordinairy savings accounts should be put to better use as they only collect 1% interest per year and a lot of those savings accounts lay dormant.
dormant.... yeah... if you're saving money the government will take care of you so you'll get bigger interest returns if they buy state bonds with them so you'll get about 3%... and for the full amount? they'll surely repay it when needed... unless you die, than your kids get half of the money... 45% to be exact....
Gerard Depardieu got the memo early. Learned he wasn't Belgian after all. He discovered he had a Russian grandmother.
Is a Kenyan puppet a Kuppet?
Could be could be. But I heard the babushka's name is Putain.
pro-socialists must be enjoying the levy.
Yep, it's all fun and games until a socialist loses an eye. Of course the same reality will gob smack the button pushers when some 12 dollar an hour kid slaps the horse on the ass that he is sitting on with a rope around his neck while "Everybody Wants to Rule the World" plays in the background.
+1 for using "gob smack".
The fact that LCS dont have Cyprus like lines, or longer, like its Black Friday Night Eve, you know the kind...to save 5 bux on some electronic gizz(or is it jizz?) 2 a.m., means the sheeple couldnt care less and are stupified into being slaughtered when the shitsorm arrives here.
But its backed by the Government.
HaaaaaHaaaaaHaaaaaaaa.
The Government is there to kill you. Fool.
‘Euro is a house of cards waiting to topple’- Nigel Farage | RT (Russia Today) | March 22, 2013
According to Nigel Farage, leader of the UK Independence Party, northern EU leaders realize they risk vast losses if they allow Cyprus, Greece or any other southern member to fail. To prevent this, they have resorted to extreme measures - even theft.
RT: Every bailout comes with strings attached. But can Cyprus afford the price the EU has set?
Nigel Farage: What is really happening here is we are having a reconcilable split between the North and the South of Europe. In the North of Europe – Germany, the Netherlands, and Finland – there are very strong political voices saying “We do not want to go on bailing out southern European countries.” And bear in mind that Cyprus is now the fifth country out of 17 that has needed to be bailed out. And that is why the Germans extracted the terms that they did. But I must say that even in my direst predictions in this parliament over the years about the way the EU bosses were behaving, never did I think that they would in a completely unprecedented manner resort to stealing money from people’s bank accounts.
RT: But is that because Europe can’t afford Cyprus to fail?
NF: Well, It can’t afford Cyprus to fail, it can’t afford Greece, Portugal, Spain or Ireland to fail. They know that once one country goes the whole deck of cards will come tumbling down. And countries like Germany will realize absolutely vast losses – possibly as much as one trillion euros
So, they are prepared now to do literally anything to try to keep the Euro afloat. And that is why they have now resorted to what can only be described as theft.
Now they’ve done it in one country, they are quite capable of doing it in Italy, Spain, Portugal, or anywhere else.
And the message that sends to people who have got savings in banks in those countries – certainly if I was them is “get your money out while you can.”
RT: In 2010, almost twice as much British money went to Cyprus as transfers from Russia - according to the country's official website. Haven't you got a responsibility to safeguard your constituents’ interests there?
NF: The government has had nothing to say on that subject whatsoever. And what the government ought to do is to help the British people living down there – mostly pensioners.
But what the British government needs to do is to say to the hundreds of thousands Brits that are living Southern Spain, that “For goodness sake, get your money out of that country and have a monthly transfer to pay your bills. And that is what I’d like to see [Britain's Chancellor of the Exchequer] George Osborne do in budget statement in the House of Commons tomorrow.
RT: And what sort of message is this sending to foreign investors? Essentially, are not they being taxed to cure a crisis they had no part in causing?
NF: Don’t invest in the Eurozone! Do not invest anywhere in Eurozone. You’ve got to be mad to do so, because it’s now run by people who don’t respect democracy, who don’t respect the rule of law, who don’t respect the basic principles upon which western civilization is supposed to be based...
http://rt.com/op-edge/farage-cyprus-eu-bailout-627/
"NF: Don’t invest in the Eurozone! Do not invest anywhere in Eurozone."
I.e. Come to Daddy, invest in The City (at your own peril).
Farage was a City trader (commodities) in a previous life. His view of the City may be slightly more rose tinted than those on the outside.
Did he actually say that or you're making shit up?
And besides, even if he did, so what? His constituents wouldn't mind. More money, more jobs for them.
NF isn't saying anything that he could not have learned on this site. E.g., I stated weeks ago, that there is or should be a Northern and Southern Euro.
I believe I was also the first suggest that the Russians/Gazprom get together with the Cypriots on a Natgas plus Naval base deal.
Nazdrovje, RT.
"It was Spain's idea." I blame exceedingly complex dance routines myself. http://www.youtube.com/watch?v=z0vTPWub0sA
By definition - if your assets are in a bank, they are not secure. Does anyone in the US think the FDIC could withstand a major bank crash? And of course we already know that safe deposit boxes are not safe. Sure if you have assets at home properly hidden they aren't totally safe either, but at least you get to put a 12 ga. smack into the face of the guy who's coming to rob you of your assets. With bankers, your money's gone and so are they.
It's also relative. As long as you choose to or have to keep a bank account, I'd bank with the one most likely to be the Last Man Standing.
Squeal, hitch, moan or whine all you want, all I want, fact is... As long as there is a Fed, there will be JPM. Adapt accordingly.
I don't see Poland on the first graph. Anything special with that country?
They use the zloty.
the czechs (cz) use koruna, what's so special about them?
CZ isn't on the first graph.
By first graph I meant Figure 1. CZ(ech Republic) is there but not Poland (or Lithuania for this matter). Poland and Lithuania are the only E.U. countries left out on this graph (Fig. 1). Is there a reason for this?
Why do English speakers (and many others besides) refuse to use the proper name of the country?
It is properly "Czechia", NOT "The Czech Republic".
Nobody talks about "The Italian Republic" or "The Hungarian Republic" or "The Swiss Republic", so why do so many append the word "Republic" to the name of this nation in this one particular case?
i think you're right. i heard germans and the dutch calling that country czechia, tschechia, or something like that
Sorry, but that didn't take off.
Why didn't they suggest Bohemia? Instead they come up with these weird names. Like Myanmar. Who the fuck can remember that?
I know but the graph is not just for Eurozone. It has Bulgaria (BG), Hungary (HU) and Romania (RO) for example, countries that do not use euro for their national currency.