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Cypriot Youth Rise Up In Pictures: "They Just Got Rid Of All Our Dreams"

Tyler Durden's picture


There is a reason we think of youth unemployment as the 'scariest' thing in Europe as we have discussed here and here. After a few months of relative calm, it appears the youth are once again finding their hopes dashed and are protesting. As Reuters reports, thousands of students and bank workers protested in the Cypriot capital Nicosia today. "They've just gotten rid of all our dreams, everything we've worked for, everything we've achieved up until now, what our parents have achieved," is how one young protester exclaimed his feelings, as a bank worker added, "we are scared." It appears President Anastasiades comment that, "the agreement we reached is difficult but, under the circumstances, the best that we could achieve," is not reassuring an increasingly volatile people.









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Tue, 03/26/2013 - 14:54 | 3378183 kaiserhoff
kaiserhoff's picture

If this is someone's idea of a plan, I would hate to see these idiots just winging it.

Tue, 03/26/2013 - 14:56 | 3378200 Ruffcut
Ruffcut's picture

As dreams go, Carlin was right "you have to be asleep to believe in them".

Tue, 03/26/2013 - 14:59 | 3378220 hapless
hapless's picture

If she points her fingers to the ground her palms will say "ON".

Tue, 03/26/2013 - 15:04 | 3378256 idea_hamster
idea_hamster's picture

Arguably, the Cypriot youth have their entire lives to learn a different language, move out of Cyprus, work elsewhere in the EU and recover. 

The Cypriot retirees who chose to avoid risk, accept 0% deposit rates, and keep their savings in an account, but now are 65+ and have to make €100k (at best) stretch out for the rest of their poor lives are the ones who should be throwing stones.

Tue, 03/26/2013 - 15:12 | 3378298 Sudden Debt
Sudden Debt's picture

They can't move out....
they want their parents inheritance...

Last week I heard a few young guys who are in their 25's talking about how they see there future...

Main topic:
"when my parents die, I'll get.... and than I'll buy..."

talk about financial planning...

Tue, 03/26/2013 - 15:15 | 3378316 Bicycle Repairman
Bicycle Repairman's picture

"They can't move out....
they want their parents inheritance..."

Was it kept in a bank?

Tue, 03/26/2013 - 15:17 | 3378334 Sudden Debt
Sudden Debt's picture

the rocks under their feet.

also, don't forget that this young generation is raised with the belief:
"the government will take care of us, they own it to us because.... because!"

Tue, 03/26/2013 - 15:27 | 3378405 Hippocratic Oaf
Hippocratic Oaf's picture

It's a lotto and litigation society that we live in. On the streets of NY you actually here convo's of 'when I hit the lottery' or ' I'll sue their pants off if........'.

No one wants to "work". Fuck that

Don't know when things got so fucked up

Tue, 03/26/2013 - 15:41 | 3378519 Totentänzerlied
Totentänzerlied's picture

Work doesn't pay as well. Never has. Plebs just didn't have any alternative, back then.

Tue, 03/26/2013 - 18:08 | 3379131 Ray1968
Ray1968's picture

The new Debt Slaves. Love the New World Order!!!

Tue, 03/26/2013 - 18:26 | 3379191 MillionDollarBogus_
MillionDollarBogus_'s picture

James Karen character's Quote from Wall Street; "Well, someone has to pay and it isn't going to be me"....

So, where are the photos of the wealthy Russians, who stand to lose the most money in this financial mess..?? 

Tue, 03/26/2013 - 18:38 | 3379236 nmewn
nmewn's picture

It won't do any good for "wealthy Russians" to run into the church and ask forgiveness...Vito Troika has been told to put the arm on them as well...

"One entity that expects to take a huge scalping is the Orthodox Church of Cyprus. Archbishop Chrysostomos II said Monday that he expected the church would lose more than $130 million in confiscated deposits."

Read more here:
Wed, 03/27/2013 - 10:26 | 3381174 democratickindeling
democratickindeling's picture

They stole from God? Mmmm... everyone's going exceptions!

Tue, 03/26/2013 - 18:34 | 3379214 macholatte
macholatte's picture


This too shall pass. A couple of days of complaiing and then they will get used to it.

Let them eat cake.


Question:  Will the Cypriot youth seize the arms on the ships going from Cyprus to Gaza?

Where's Bill Ayers now?


Tue, 03/26/2013 - 18:27 | 3379154 Dr Paul Krugman
Dr Paul Krugman's picture

Cyprus should leave the Euro. 


The youth are right - their dreams have been shuttered.  And if they don't leave the Euro they will not be able to export their way out of the depression they find themselves in.

Tue, 03/26/2013 - 18:28 | 3379196 NotApplicable
NotApplicable's picture

Well, that's not a very Krugmany comment.

Tue, 03/26/2013 - 18:47 | 3379253 Dr Paul Krugman
Dr Paul Krugman's picture

And therein lies the rub:  those of you here who think you disagree with me, do not; yet you foul mouth me at every turn, not understanding how closely we view the economy.

For example:  sure, it is great that stocks are up, but because rates are still low no one should allow themselves to think we have found a recovery.  Tyler and I agree on this.

We are in a depression - Tyler and I agree on this.

Yet still, there are articles that paint me a clown, running a fool's errand.  But this is because you choose to either ignore my work or you read between the lines where there is nothing to discern.

There are things we do disagree with, and you disagree with the whole community of economists I might add; you disagree that monetary policy should be easy, you think investing in gold will save you from some coming apocalypse, and you all have bunkers and guns and ammo saved up for said apocalypse.

I have none of those stated items.

Tue, 03/26/2013 - 18:51 | 3379285 MillionDollarBogus_
MillionDollarBogus_'s picture

I approve Dr. Paul Krugman's message......because he is me...

Tue, 03/26/2013 - 19:02 | 3379328 Kirk2NCC1701
Kirk2NCC1701's picture

"Yes precious.  Agree with us he does."

Wed, 03/27/2013 - 10:31 | 3381211 ThalesOfMiletus
ThalesOfMiletus's picture


Tue, 03/26/2013 - 19:20 | 3379375 nmewn
nmewn's picture

"There are things we do disagree with, and you disagree with the whole community of economists I might add..."

Because THAT whole community of "economists" has been dead ass wrong since the 70's?

Wasn't there a graph presented to the public by some of YOUR economists saying that chunking close to a trillion ink stained/nominal digits into a black hole would result in "social & economic nirvana" and a solar panel on every roof?...but lets refresh your memory:

Why aren't we at 5% U3...Paulie?

Tue, 03/26/2013 - 19:23 | 3379388 fockewulf190
fockewulf190's picture

One day you'll end up in a pawn shop, trying to hock your Nobel Prize, hoping to Yahwah that the damn thing passes the acid test.

Wed, 03/27/2013 - 03:07 | 3380326 Camlon
Camlon's picture

I don't think everyone here is gold bugs, although sometimes investing in gold is good. What we share is an discontent towards the modern economic fields and the corrupt politicans. 

You have repeatably said that Europe's problems is a lack of liquidity, and thats it.  What the real problem is a credibility problem and politicans who keep making mistakes because they don't understand the economy. Cyprus show that, They are actually inserting new liquidity into Cyprus, but in fact they are damaging the economy more than if they did absolutly nothing and Cyprus just defaulted and left the euro. Part of the reason why the Great Depression was so bad was due to Hoovers response to the crisis. 

You could have told the community that the predictions of the EU and the US are totally bogus, Greece will ask for more bailout, Spain finances are much worse than presented, Cyprus banks are not healthy, but you never really did. You may have posted something, but it was never the focus.

Hence, you are part of the problem.

Tue, 03/26/2013 - 18:30 | 3379200 nmewn
nmewn's picture

I thought you had "super-smart guys with ties" with plaques of accreditation splattered all over their walls working on this?

Why the change of heart Paulie? ;-)

Tue, 03/26/2013 - 19:06 | 3379318 Dr Paul Krugman
Dr Paul Krugman's picture

No change of heart. 

Do you read my blog?  Probably not.  You probably do not read the NYT, either.  Come to think of it, you proably don't read at all.

But since you like to be entertained, one of my blog followers sent me this link about Doomers like you.

The Doom in the Gloom:

Tue, 03/26/2013 - 19:08 | 3379337 nmewn
nmewn's picture

Doom & Gloom?, you & your little toadies have given me countless hours of entertainment. Your vacillation over the fractionalization of a single platinum coin was worth the price of admission alone ;-)

Tue, 03/26/2013 - 19:19 | 3379360 Dr Paul Krugman
Dr Paul Krugman's picture

William K. Black agreed with me on that, as many did.  You people only see what you want, don't you.



BLACK: The Mint mints the coin.



JAY: The Mint mints the coin. Under whose direction? Treasury Department.



BLACK: Under the Treasury, and which is to say the president's direction. And they could—and the law expressly says you can make it in whatever denomination you want. So if people are trying to extort you using the debt limit, make it a $1 trillion coin, or $2 trillion, $4 trillion. It doesn't matter. And then you deposit it at the Federal reserve, and, poof!, all of the leverage goes away by the House Republicans and the Tea Party in particular that's trying to use this nuclear weapon of extortion where they hold hostage the U.S. economy.



So it was actually a very good idea. And, you know, it would have required all of about $0.80 worth of platinum—that's literally how much platinum would have been required, because you just make it a clad, you know, coin.

But then Stewart added: and obviously it's a stupid idea. Well, no, obviously it isn't a stupid idea. And if Stewart knew more about economics, he wouldn't think it was a silly idea. But, you know, he is a humorist.

Wed, 03/27/2013 - 06:43 | 3379411 nmewn
nmewn's picture

Answer the questions Paulie...


So when I told you they could do the same thing with a broken down Yugo with a blown engine and no doors parked at the Fed and just spray paint the zero's on the side...I wasn't far off...was I?

Same value, theoretically. Aside from the scrap metal value of the Yugo itself?

Tue, 03/26/2013 - 19:13 | 3379346 Say What Again
Say What Again's picture

The Krud-man said; "You probably do not read the NYT, either."

That could be one of the funniest things you've said in a while!

Tue, 03/26/2013 - 19:21 | 3379381 MrNude
MrNude's picture

Pride comes before the fall Paulie.

''Anyone who bought stocks in mid-1929 and held onto them saw most of his or her adult life pass by before getting back to even.

Richard M. Salsman''
Tue, 03/26/2013 - 19:25 | 3379394 Dr Paul Krugman
Dr Paul Krugman's picture

I've never said to buy stocks.

Tue, 03/26/2013 - 20:40 | 3379675 MarsInScorpio
MarsInScorpio's picture

I've always believed you are a satirist writer impersonating Dr. Krugman.


But today something else hit me - you seemed to actually respond emotionally, instead of satirically. There was a natural human element in your posts I've never seen before - sort of a "push-back" based upon being "fed up" with the attacks on what is written. A satirist wouldn't do that - it defeats the satire he or she creates.


So for the first time I actually have to admit not being sure you are a satirist.


If you a satirist, then you are melding into your character in a fascinating way; it appears you are actually being absorbed by your "in character" to the point of becoming emotionally involved at the anger level.


But even more fascinating is that if you are portraying your character that realistically, you are to be congratulated as one of the most brilliant satirists ever.


But as I said, today for the first time I thought to myself - this is not a satirist - it might actually be Krugman letting his emotions flow. He's telling his detractors to take a hike. He's "mad as Hell, and I'm not going to take it any more!"


 Is he. or isn't he?  Only the Tylers - being able to track the writer's IP address - know for sure.


Tue, 03/26/2013 - 22:04 | 3379949 ebagel
ebagel's picture

I do respect that you make these comments on zerohedge PK

Tue, 03/26/2013 - 22:56 | 3380084 Chuck Walla
Chuck Walla's picture


"By 2020, the US Government will be spending more annually on debt interest than the total combined military budgets of China, Britain, France, Russia, Japan, Germany, Saudi Arabia, India, Italy, South Korea, Brazil, Canada, Australia, Spain, Turkey, and Israel."

"Through government spending the indulgence of one is the burden of another; through government borrowing, the excess of one generation becomes the yoke of the next; through international bailouts, one nation's extravagance becomes another nation's debt"

"Everyone takes, nobody makes, work doesn't pay, indulgence doesn't cost, money is free, and money is worthless."


~ Canadian MP Pierre Poilievre





Tue, 03/26/2013 - 17:16 | 3378978 FlyingDutchman
FlyingDutchman's picture

Unfortunately for Cyprus, the ones that do leave are the ones the country needs, as is happening in Spain, Italy etc.

One of these days the're going to put up an iron curtain again, this time between the north and the south of Europe.


Tue, 03/26/2013 - 17:47 | 3379066 nmewn
nmewn's picture

And no one is talking about the obvious...a hundred thousand euros in the bank is the threshold to be called wealthy?

Two years of "middle class" savings?

Tue, 03/26/2013 - 18:47 | 3379268 Relentless
Relentless's picture

I don't know anyone who would call themselves middle class who is saving 50k a year! Try 10 - 20 years of savings.

Tue, 03/26/2013 - 19:13 | 3379347 Five8Charlie
Five8Charlie's picture

I think the point was that you can live a middle class life for two years on that amount, not that you save that amount in two years...

Tue, 03/26/2013 - 19:37 | 3379437 nmewn
nmewn's picture

That was exactly the point...+1.

What they are monetarilly implying is that, its all fun & games when they are jacking around with inflation rates (devaluing currency, thus savings in their currency) but when they need REAL money, no amount is too small.

They have no problem picking Granny's purse.

Tue, 03/26/2013 - 17:26 | 3379005 Joe A
Joe A's picture

Pfff, they will just impose a death tax on top of taxing inheritance. "You didn't think you would get off easily by dying now, did you?"

Tue, 03/26/2013 - 15:13 | 3378299 SafelyGraze
SafelyGraze's picture

the plan?

the plan is to get rid of the youth

don't tell

Tue, 03/26/2013 - 15:21 | 3378314 Sudden Debt
Sudden Debt's picture

young kids make great soldiers. never forget that.

they don't yet have the morals and ethics we have learned through our lives.
I you learn a young kid to fly a drone, kill a hundred people and tell him it's like a game, he'll have no problems to get to sleep at night.

Tue, 03/26/2013 - 15:29 | 3378430 Hippocratic Oaf
Hippocratic Oaf's picture

Heard armed forces is now handing out medals for drone kills.

That's right......sit in a room and play a video game. kill people. get a medal.

Tue, 03/26/2013 - 15:43 | 3378533 css1971
css1971's picture

Cheaper than giving them a bonus.

Tue, 03/26/2013 - 15:42 | 3378528 Totentänzerlied
Totentänzerlied's picture

Like the morals and ethics of the 50 and 60 year old generals who command the armed forces?

Tue, 03/26/2013 - 15:44 | 3378529 akarc
akarc's picture

young kids make great soldiers. never forget that.

Obviously lousy generals. Would not the time to hit the streets been last week?  Before the deed was done.

But then no one is in the streets over here so WTF do I know. Guess I better buy some stock before the market closes. PUKE


Tue, 03/26/2013 - 16:02 | 3378635 NoClueSneaker
NoClueSneaker's picture

.... nah, too complicated . Plan B obsolet . Anthrax and N-Bombs long .....

A dead kid could be much more worth as organ replacement depot for the 120yrs old psychopaths ...

10 % of the kids r enuf to shelf the other 90 % ...

Tue, 03/26/2013 - 16:16 | 3378704 bidaskspread
bidaskspread's picture

You mean MW3? It's a great game.

Tue, 03/26/2013 - 15:15 | 3378315 jekyll island
jekyll island's picture

The young unemployed male is the most dangerous animal on earth

Tue, 03/26/2013 - 15:59 | 3378616 JR
JR's picture

"If you steal something from a man you'd better have some idea of the value he sets on it." -- Riding for the Brand

Tue, 03/26/2013 - 17:28 | 3379013 Joe A
Joe A's picture

And also very easy to be influenced to go over the top and charge other young unemployed males from some other country.

Tue, 03/26/2013 - 19:18 | 3379367 Cleveland Steamer
Cleveland Steamer's picture

I would argue that they are less dangerous than a baby boomer who is threatened with the end of their entitlement ponzi schemes.

Tue, 03/26/2013 - 16:19 | 3378723 Mugatu
Mugatu's picture

Just stick as IPad in front of them and they will be pacified again!  

Tue, 03/26/2013 - 18:45 | 3379256 Shizzmoney
Shizzmoney's picture


Arguably, the Cypriot youth have their entire lives to learn a different language, move out of Cyprus, work elsewhere in the EU and recover.

Yet the American youth are stuck in America.

Jesus Christ we all have it pretty bad, don't we?

Tue, 03/26/2013 - 23:46 | 3380174 Freddie
Freddie's picture

Where are they going to move? Germany?  How many youth in Greece, Spain, Italy, et al want to move to Germany for a job?   I think people dumping on these kids are pretty harsh.  Greece and probably Cyprus have big unionized govt work forces like France which are a joke. 

The EUSSR and euro promised southern Europe riches and a German standard of living.   They were suckered in so the elites could loot and destroy their country.  Try walking in their shoes because you may be doing that in real life a lot sooner than you think.


Tue, 03/26/2013 - 15:06 | 3378269 francis_sawyer
francis_sawyer's picture

Dammit! ~ when I grew up I always wanted to bang hotties like a fat Russian jew oligarch by throwing around laundered joobux...


Now what am I to aspire to?

Tue, 03/26/2013 - 15:14 | 3378292 AssFire
AssFire's picture

Now what am I to aspire to?

Easy- The biggest Jew Basher on ZH seems within reach......

You killed Crockett!, you bastard. LOL

Tue, 03/26/2013 - 15:14 | 3378308 Sudden Debt
Sudden Debt's picture

talk about going into the competition stream...

Tue, 03/26/2013 - 15:20 | 3378333 AssFire
AssFire's picture

torah, torah, torah!

was the banker's attack code I'm told.

Tue, 03/26/2013 - 15:30 | 3378421 francis_sawyer
francis_sawyer's picture

For the record... I'm bashing "bankers", "technocrats", "money launderers", "statists", "propagandists", & "disinformation specialists"...


The fact that most of the above [by a mathematically IMPOSSIBLE ratio] are jews, is a side salad...

Meanwhile ~ I'm still waiting to hear the OUTRAGE by their bretheren...

[CRICKETS & 'junks' is all I hear & see]...

Tue, 03/26/2013 - 16:11 | 3378676 nope-1004
nope-1004's picture

Like I've said before, don't ever fuck with a guy whose name is Francis.    ;-)


Tue, 03/26/2013 - 16:37 | 3378770 francis_sawyer
francis_sawyer's picture

It's been going on 3 years that I've been inviting people to synthesize arguments which refute my thesis...


Alas ~ just a bunch of pissed off people, who have no arguments worthy of articulating, but are fast on the trigger with the RED ARROW clicking technique...


I invite the pantheon of educated & articulate ZHers, once again... Please ~ somebody step up and UNDEFINE my [15:06] comment above, & offer a more succinct analysis of the subject at large [& based on the thread], & avoiding all the usual 'ad hominem' attack landmines that inevitably occur...

Tue, 03/26/2013 - 17:52 | 3379081 blu
blu's picture

Dammit! ~ when I grew up I always wanted to bang hotties like a fat Russian jew oligarch by throwing around laundered joobux...

You don't have a thesis here. You have an aspiration. There is nothing there to refute though I might question your taste.


Tue, 03/26/2013 - 18:05 | 3379123 Wile-E-Coyote
Wile-E-Coyote's picture

Quick someone dig up Hitler and clone him, they keep calling his name on the intercom.

Tue, 03/26/2013 - 18:24 | 3379178 francis_sawyer
francis_sawyer's picture

and what might my "aspiration' be... IN YOUR WORDS?

Tue, 03/26/2013 - 18:53 | 3379294 MillionDollarBogus_
MillionDollarBogus_'s picture

I am francis_sawyer.....

Tue, 03/26/2013 - 19:00 | 3379326 francis_sawyer
francis_sawyer's picture

Well then apparently you are a evil 'devil worshipper'... [per the comments made by a thoughtful ZH contributer in another thread]...

Tue, 03/26/2013 - 18:22 | 3379169 Piranhanoia
Piranhanoia's picture

Mainly you are a racist twit.  You would have to be a banker to be able to quantify the amount of people that subscribe to the religion you dislike, hence perhaps you are.  You have to be hateful overall to dislike people that were born with a name that sounds to you like it might be jewish, and not realize that the same name is common in the christian religion throughout eurasia.  You would have to be ignorant not to realize everyone had the same ancestors not so very long ago.  You would have to be a maroon to think that just because someone's name was once associated with a religion long ago, that this person has any sense of religion at all.  You would probably have to participate in a religion to think that another one is somehow different and horrible.

Do you get the picture yet about what makes you, you?

Tue, 03/26/2013 - 18:49 | 3379221 francis_sawyer
francis_sawyer's picture

You see... You brought "religion" into it... [Which is a distinction that I have patently argued AGAINST in the body of all the comments I've made on ZH, over time]...


Alas ~ It's an unwinnable posture that I face...

Why?... Because some lazy person like yourself will post a 'one liner' [which is completely different from the volumes of distinctions I've offered, versus dozens of different other posters]...

You used 'RELIGION' no less than 5 times in your comment... When I speak of 'jews', I'm no more talking about RELIGION than I'd be if I were talking about TREKKIES... [or, to put it another way, if 75% of the theiving bankers around the world happened to be 'Trekkies', I think logically, I'd wonder why THAT were the case as well]...

Moreover ~ you immediately fall into the same 'ad hominem' pattern that everyone else falls into... ['mainly you are a racist twit' ~ comment]...


Once again, my thesis is correct... Everyone is quick on the trigger to attack the PERSON, if the narrative is offensive to them... But I still have not received a reasonable or thoughtful argument as to why the vast majority of people [who call or consider themselves 'jews'], occupy the power nodes, of banking, political lobbying, & mass media... [which ~ the combination of, is ostensibly the source from which the DAILY lamentations on ZH stem because they are full of lies, deceit, & theft]...


Tue, 03/26/2013 - 19:36 | 3379429 Urban Redneck
Urban Redneck's picture


It's largely a distinction without a difference, for the simple reason that while a segment within any religion, race, tribe, or clan may exhibit certain negative traits with an alarming frequency, I've never came across an entire religion, race or tribe where such a trait was universal, and I'm fairly well traveled to put it mildly.  However, retribution is rarely so discerning (or as partial to obnoxious haggling as in Genesis 18).  

I also say that as someone with no qualms about trashing joos, niggers, chinks, crackers, spics, bitches, or retards (albeit for probably different reasons).  I've never asked the Jewish members of my extended family what race they are, and I don't care.  It simply isn't a determining factor in whether they are good people or not.  Far more important is whether they are a human being first, or a Jew, African-American, Hispanic, or woman first.  Because if they are not a human being first, then they are more likely to defend the indefensible (evil & criminal) based on some misguided sense of identification or perverted loyalty, which only fuels and justifies the hatred that seeks revenge for a perceived transgression.


Tue, 03/26/2013 - 19:50 | 3379481 francis_sawyer
francis_sawyer's picture

So according to your explanation, it's all UTTERLY RANDOM...


As utterly random as the price of gold, or silver, or Libor...

I see...

Tue, 03/26/2013 - 20:37 | 3379665 Urban Redneck
Urban Redneck's picture

I think the random, yet widespread, appearance of any trait would be extremely unlikely.  But Hitler was hardly the only strongman to seek the liquidation of a perceived wealthy and educated minority, the Bubi and Cambodian genocides being the clearest, but there is a common string of envious rage (distinct from revenge) that runs through a lot of the manifestations of mass madness.      

Tue, 03/26/2013 - 21:22 | 3379782 francis_sawyer
francis_sawyer's picture

All I can say is this... [Consider MsCreant's comment below ~ which, at minimum was a solid attempt at an explanation]


"The Jewish faith AND culture emphasizes education (blacks are made fun of for scholastic achievement in their communities, they are told they are trying to be white, many of my students share this with me, it really does hold them back). Even when Jews are in the ghettos they educate their own (reading, writing, numbers) as part of the religion. They are structurally set up to do this. The religion also promotes critical thinking. In many brands of Christianity, if you question the existence of God, you are silenced as a blasphemer. In Judaism, you are encouraged to argue and debate with your teachers, questioning the existence of God is considered a good practice, a well examined faith is considered to be a stronger faith. Because of the history of the holocaust, they do have a "stick together" and "we have each other's back" kind of mentality. You can look around a Temple after services and see that "business" is also taking place. A Jewish plumber shakes hands with his clients, who then remember they need his services. African Americans have criticized their own for not having more of this same spirit. Many acknowledge that once they escape the Ghetto, they infrequently go back to help their own. 

No one thinks the African Americans have a basketball (or rap, or whatever) conspiracy, even though they are statistically dominant in these occupations. The Jew support Jew thing is strong. You may not believe in the Holocaust, but they do. Never again is pretty strong with them. They know money protects you. Like the rest of us know, too. Relatives help and encourage relatives, it runs in families, temples, neighborhoods."

Now consider this... She basically described the traits & characteristics of a culture... As always ~ I prefer to leave RELIGION out of it [though many Jews themselves seem fond of drawing it back towards religion, as in terms like "Chosen Ones" & "Doing God's Work"]...

I'll focus on the "cultural" aspect of it [that which seems fond of vocation & accumulating monetary wealth & status, but which is not unlike other cultures to varying degrees]...

My point still remains... Why 'banking', 'political activism', & 'MSM'? [after all, there are MANY vocations out there]...

My speculation?... POWER... The above 3 [especially in harmony with one another, create a stranglehold on POWER]...

Let that stew for a moment...

Now imagine the world at large... 'The Global Community', or, as some would have it... 'The New World Order'... On the surface, some are skeptical of those ideas, some don't think about it that much, & some think it's a good idea... I happen to think it's NOT a very idea because I, like yourself, have traveled extensively [& even lived abroad for more than 15 years]... People are people, yet 'cultures' are undeniability vast & diverse [AS NATURE IS ITSELF]... 

There SHOULD NOT, in my mind, exist a stranglehold on wiping away cultural diversity... [Which means that "One World Order, or Global Community" is a bad idea to me ~ yet, which ironically makes the case that I believe 'IN' the rights of the jews to have their own culture & their own religion... Something that people on ZH mistakenly believe I'm against]...

TPTB seem to be [correct me if I'm wrong] trying to establish that "Global Community" as we speak... Let's say they succeed [this is just a thought experiment]... If they do, then probably the best idea would be to have equal parts representation at the seat of power by all cultures... REMEMBER ~ I"M AGAINST THIS IDEA IN THE FIRST PLACE, SO IF THIS IDEA SEEMS SILLY, WELL I'M JUST TRYING TO ARGUE THE CASE FOR THE PEOPLE WHO ACTUALLY DO THINK IT'S A GOOD IDEA... Supposedly ~ that's a 'democracy'...

Now ~ Let's take the case of the jews... On the planet, jews represent 1% of the worlds population... [which means, in the above "Global Community" paradigm, they would have one seat at the table in 100]... But's that's not really the power structure that's developing at the moment... There's that word 'POWER' again [which I'd asked you to let stew above]...

Let me flip the argument over... Let's say that we engineer a "Global Community" starting tomorrow... Somebody has to be in charge... Are you comfortable with the idea that 1% of the population would be capable of exercising proper stewardship of the needs & interests of the 99% [especially in light of their track record thus far]?...

Which is why I'm against this "Global Community" idea in the first place... If jews want to be the boss of something, they can choose a leader be the boss over themselves... Let other people do as they please...

GO BACK & LOOK AT THE PHOTOS OF THE PEOPLE IN THIS THREAD [ALSO THE OTHER ZH THREAD THIS EVENING ABOUT CYPRUS NOW BEING A BROKEN COUNTRY WITHOUT A SHOT FIRED & I'M NOT EVEN INCLUDING GREECE]... All of these things occurred because a few bankers decided they knew what was best for others [people who they knew nothing about & could care even less]... But wanted the POWER to control...

This is happening everywhere as we speak... From Greece, to Cyprus, to Bloomberg in NY, to taking your guns away...

I'm not the bad guy here...

Tue, 03/26/2013 - 23:20 | 3380131 Urban Redneck
Urban Redneck's picture

I don't think you are the bad guy.  I just disagree with any substantial distinction between race vs religion/culture being the "cause."  Furthermore, as I look at the TPTB (as opposed to the banking sector & MS or MSM which I'll skip over since it's about 4) I don't see unanimity of goals among the either the Jewish members or the larger groups (and in certain key industries like energy - I just don't see Jews.)  Among TPTB, regardless of their religion, you've got some dinosaurs like Kissinger, Brzezinski and Shultz, who have implacable positions known seemingly since the beginning of time, and who aren't going anywhere until they're wheeled off to the undertaker.  Then there's the legion of relative toddlers from Europe & North America where the Jews are well represented but where there is a lot of NWO/OWO conflict, and then there is ROW where the up-and-coming PTB have their own greed and ambition in direct conflict with both the NWO and OWO crowds.  The path of the last 40 years was laid by Nixon with Schultz bankrolling Kissinger's extension of LBJ's guns & butter wet dream, and those guys and their teams knew full well what they were doing.  We're rapidly approaching the limit of that paradigm and I just don't see that the guys who are likely to pick up the pieces are going to be open to the Jewish influence when their dance card is already full. 

Tue, 03/26/2013 - 18:39 | 3379238 NotApplicable
NotApplicable's picture

There are Jews who are none of the things that you claim to rail against, therefore your thesis is fundamentally flawed.

What's interesting is that you choose to do it anyway, when the reactions it creates only further serve to undermine any point you may have. So in essence, you are your own worst distraction.

But, I guess that's how activism fulfills the divide and conquer paradigm that serves TPTB so well.

Did ya catch that? Every attack you launch on a "Jew banker" only serves to further their cause.

Tue, 03/26/2013 - 18:47 | 3379247 francis_sawyer
francis_sawyer's picture

I see... So it is all MY fault...


Evidently ~ I'm holding ALL of the advancement of society back singlehandedly... The moment I stop, it'll all become peaches & cream & the bankers will give back all the money they stole...


& once again... for about the BILLIONTH TIME... I DON"T FUCKING RAIL AGAINST ALL JEWS... I just wonder why a statistical & mathematically impossible number of people [who call themselves 'jews'], are bankers, political lobbyists & activists, & MSM moguls... Still waiting for an answer on that one...

Tue, 03/26/2013 - 19:14 | 3379350 MsCreant
MsCreant's picture

Because their culture supports the kind of education that gets them into these fields. Same with African Americans and basket ball. Their culture also supports supporting their own. 

No attack from me. You are free to have your opinions. I am free to disagree.

Tue, 03/26/2013 - 19:34 | 3379368 francis_sawyer
francis_sawyer's picture

I have an idea... Let's settle this once & for all by the process of elimination...


- I'm not a 'misogynist' [because I don't appear to be blaming it on women, even though women are, say, 50% of the population]... VASTLY underrepresented in banking...

- If I'm 'racist' [as suggested before], how come I'm not blaming blacks, japanese, chinese, or latinos?... VASTLY underrepresented in banking...

- If I'm a religious zealot... Why aren't I blaming Muslims, Buddhists, or Hindus?... VASTLY underrepresented in banking...

The answer is easy [& twofold]... NONE of the aforementioned are demographically overrepresented... AND ~ my problem isn't with 'races', 'religions', or 'sexes'...


arguably ~ YOU could be considered 'racist' for your comment on blacks & basketball... Jimmy the Greek Snyder got fired from CBS back in the day for suggesting that blacks have superior genes for playing basketball... 30 years later, he's considered a 'racist'...

Furthermore... on this comment... 'Because their culture supports the kind of education'... Child please... You actually want to go to the "education system" to receive wisdom & insight on matters... Most thoughtful people, today, would call it the "STATIST INDOCTRINATION SYSTEM"... & it still doesn't explain the skewed ratios... [or maybe it DOES... In which case, you made my argument for me]...

Tue, 03/26/2013 - 19:44 | 3379454 MsCreant
MsCreant's picture

You asked:

"I just wonder why a statistical & mathematically impossible number of people [who call themselves 'jews'], are bankers, political lobbyists & activists, & MSM moguls."

I answered:

"Because their culture supports the kind of education that gets them into these fields. Same with African Americans and basket ball. Their culture also supports supporting their own."

I can see you are not satisfied with my answer so I will elaborate. 

African Americans see one another in Basket ball, many of their positive roll models for success are in basket ball, and it is part of the inner city narrative that one way out of poverty is to become a successful basket ball player.

The Jewish faith AND culture emphasizes education (blacks are made fun of for scholastic achievement in their communities, they are told they are trying to be white, many of my students share this with me, it really does hold them back). Even when Jews are in the ghettos they educate their own (reading, writing, numbers) as part of the religion. They are structurally set up to do this. The religion also promotes critical thinking. In many brands of Christianity, if you question the existence of God, you are silenced as a blasphemer. In Judaism, you are encouraged to argue and debate with your teachers, questioning the existence of God is considered a good practice, a well examined faith is considered to be a stronger faith. Because of the history of the holocaust, they do have a "stick together" and "we have each other's back" kind of mentality. You can look around a Temple after services and see that "business" is also taking place. A Jewish plumber shakes hands with his clients, who then remember they need his services. African Americans have criticized their own for not having more of this same spirit. Many acknowledge that once they escape the Ghetto, they infrequently go back to help their own. 

No one thinks the African Americans have a basketball (or rap, or whatever) conspiracy, even though they are statistically dominant in these occupations. The Jew support Jew thing is strong. You may not believe in the Holocaust, but they do. Never again is pretty strong with them. They know money protects you. Like the rest of us know, too. Relatives help and encourage relatives, it runs in families, temples, neighborhoods.

Edit: This message was a response to what was written here before.

Tue, 03/26/2013 - 20:27 | 3379515 francis_sawyer
francis_sawyer's picture

OK fine... I'll accept your logic... [which I'll synthesize as saying, they follow THEIR KIND, CULTURALLY & VOCATIONALLY, as role models, which inherently skews the statistical representation]


Now ~ please explain to me why the 'vocation' is so CORRUPT [& the subject of endless stories of lies, deceit, & theft on ZH]... & how THE PEOPLE, [who you already acknowledged play and arguably 'majority' role & as principal actors], are absolved from any accusations that francis_sawyer makes... Furthermore ~ why aren't the 'good ones' [among them], more outspoken about the injustice? & seem to be more content to ride the gravy train as long as it is in their economic favor... Surely there are some... But it's hard to argue that THAT VOICE is ever heard over the chorus...

IOW ~ tell me why I'm WRONG for pointing out a fact that you basically just acknowledged... That is ~ people [who call themselves jews], are at the front and center of the most corrupt & perhaps evil structure on the planet that enslaves & oppresses the vast majority of humanity...


What amuses me is how, [on ZH & elsewhere], someone brings 'jews' into a discussion & everyone goes apeshit... Yet you can have a comment like the first one in the 'Santelli' thread

That is clearly 'racist' in overtones [yet which has 30 green arrows & 0 red arrows]...


Note: You don't have to answer that part that comes after 'IOW' above... Frankly ~ I have to get up very early tomorrow I don't have time to go on about this deep into the evening... I just left the question to dangle a little bit... You already achieved more than anyone else has ever bothered to do around here [which is to offer an explanation as to the 'skewed representation' part of the equation which I have been fishing for an answer to]... I appreciate that effort...


Tue, 03/26/2013 - 19:21 | 3379382 SMG
SMG's picture


Tue, 03/26/2013 - 19:27 | 3379398 francis_sawyer
francis_sawyer's picture

Yes ~ that's the thread that you preach the gospel to me and the attributes of 'good' vs. 'evil' & ask me the question: "Why do you work for the Elite as an internet troll trying to shift the blame from people"...


Then, up arrow yourself as you did here...

Tue, 03/26/2013 - 15:49 | 3378551 Cadavre
Cadavre's picture

Wait ... are you sure(?) ... i thought white smoke coming out of Lagard's ass meant "ON" .. err ...  maybe it was when her balls were on the left side of her double knit polyester leisure suit pant crotch inseam ... you know - the ones stitched with contrasting thread to reinforce and exagerate the eloquent leg crease (?)  .. a tsunami is so confusing ..... RUN RUN FOR YOUR LIFE ...

Oh lord won't ya buy me a Goldman CDS

My friends all buy Goldman triple A bonds

But they always default and they never pay off

Oh lord won't yo buy me a Goldman CDS




Tue, 03/26/2013 - 18:05 | 3379121 Long_Xau
Long_Xau's picture

On the key-pads of some ATMs in Cyprus there is a column of 3 buttons:




If someone breaks one off (this is not a suggestion for someone to actually do this) and places it upside down it will say:



which is the Greek for "NO".

Tue, 03/26/2013 - 19:22 | 3379385 Dugald
Dugald's picture

GOTTEN! really? a Cypriot said gotten, I refuse to belive they have sunk so low that  they now say gotten. Gotten marks you as a poorly educated American.


Tue, 03/26/2013 - 15:01 | 3378238 fockewulf190
fockewulf190's picture

Just wait until the dollar-a-day crowd gets desperate. It's not far off, and there will be blood.

Tue, 03/26/2013 - 15:16 | 3378321 Sudden Debt
Sudden Debt's picture

1$ a day in cash and 200$ a day worth in foodstampsand iTunes cards...

Tue, 03/26/2013 - 15:19 | 3378341 A L I E N
A L I E N's picture

Speaking of "There Will Be Blood", that movie is quite fitting for this situation.  Not only will the title most likely come to fruition, someone was drinking the Cypriot's milkshake out from under them..

Tue, 03/26/2013 - 15:00 | 3378227 Groundhog Day
Groundhog Day's picture

The Troika better call DHS for some of them hollow points

Tue, 03/26/2013 - 15:14 | 3378309 Urban Redneck
Urban Redneck's picture

Fuck the hollow points, they could really use the couple thousand surplus MRAPS to Army is trying to offload, at least they're resistant to Molotov cocktails-

Tue, 03/26/2013 - 16:00 | 3378625 fattail
fattail's picture

If those sheep had some bushmasters there would be a reason for tptb to fear them.  Alas,  they look as pathetic as the argentinans banging pots and pans.  

Dont think that lesson  isnt being reinforced on our political establishment.  The crazy thing is the number of people in the u.s. willing to take up arms is a miniscule percentage of the people who have the option.  But the fear of that small number is not so small for tptb.

Tue, 03/26/2013 - 17:56 | 3379094 blu
blu's picture

This is the eastern Mediterranean. You don't need bullets and you don't have to shoot anyone, just start some nasty rumors that sound like one down-trodden ethnic group besmirching the honor of another down-trodden ethnic group and by nightfall they'll be hacking each other to pieces using dull farming implements.

Tue, 03/26/2013 - 18:01 | 3379114 sessinpo
sessinpo's picture

Amd why would need those hollow points.


Europeans don't have a 2nd Amendment. I believe Cyprus slaves are limited to a shotgun (and remember Biden promotes that idea). Heck a few deer rifles will take them out at over 100 yards.


It is interesting that how those leftist that are fighting the 2nd Amendment don't recognize that if those citizens in the Middle East and Europe had a  similar 2nd Amendment right, maybe the Government and Banksters wouldn't be doing what they are now.

Tue, 03/26/2013 - 15:00 | 3378229 Banksters
Banksters's picture

Banksters are parasites.  Fractional lending is fraud.


Two metaphors to be repeated by all.   I have sympathy, because the cancerous bankers have made it nearly impossible to operate outside the system.   Then out of the blue, they close the banks and tell  you they are going to reassess your savings.  Fucking bullshit, through and through.

Tue, 03/26/2013 - 15:09 | 3378283 francis_the_won...
francis_the_wonder_hamster's picture

I'm sitting here at the office with CNBC on in the background (yeah, yeah...I know), and I hear the following: "Fitch has placed Cyprus on negative credit watch".

I spit water all over my computer I was laughing so hard.  Cyprus might have trouble paying their debt?  Ya think?  Thanks for the breaking news and forward looking credit analysis.

Sorry, I'm still laughing.....and in other news, the sky is blue.

Tue, 03/26/2013 - 15:14 | 3378311 kaiserhoff
kaiserhoff's picture

They might have trouble paying for a box of laundry detergent, but hey, I'll adopt a couple of cuties for the summer.

My dog and I are generous like that.

Tue, 03/26/2013 - 16:18 | 3378716 RichardENixon
RichardENixon's picture

Does CNBC view it as a buying opportunity?

Wed, 03/27/2013 - 00:06 | 3380192 Freddie
Freddie's picture

TV and Hollywood are total shit and for morons who like being brainwashed.  I had to go to a business today and they had CNN on. The guy behind the counter keeps watching the crap and they are in FULL market pump mode.

I get ill being around TV.  It is like smoking and smokers.  I have more empathy for smokers. TV viewers are morons who like being brainwashed and lied to.

Tue, 03/26/2013 - 15:09 | 3378284 francis_the_won...
francis_the_wonder_hamster's picture

I'm sitting here at the office with CNBC on in the background (yeah, yeah...I know), and I hear the following: "Fitch has placed Cyprus on negative credit watch".

I spit water all over my computer I was laughing so hard.  Cyprus might have trouble paying their debt?  Ya think?  Thanks for the breaking news and forward looking credit analysis.

Sorry, I'm still laughing.....and in other news, the sky is blue.

Tue, 03/26/2013 - 15:30 | 3378436 GolfHatesMe
GolfHatesMe's picture

The Miley Cyprus plan


Surprise Bitchez, I am not only Jean Claude Junker, but also Jeroen Dijsselbloem!


Tue, 03/26/2013 - 15:57 | 3378565 Charles Nelson ...
Charles Nelson Reilly's picture

meanwhile here in the states, the intellectually lazy youth sheep are soley focused on whether our rulers tell us its legal for less than 3% of our population to be married.  A fuckin piece of paper from our fuckin narcissitic rulers is what these stupid fucking idiots care about.  They don't seem to give a shit about the immoral wars that have killed hundreds of thousands and costs us trillions of dollars WE have to pay for eventually.  They don't fucking care that the fucking bankers are stealing everything that isn't chained down.... NO.... what these stupid fucking people care about is whether or not a couple of dudes can get hitched, legally.  Here is my message to them - WHO THE FUCK CARES!!!!

Tue, 03/26/2013 - 16:59 | 3378903 rich_wicks
rich_wicks's picture

Try to explain to either side that marriage is a religious ceremony, and the state should have absolutely no part in it, and their brain will explode.

There should be no tax credits, no tax hikes, nothing with regard to marriage.

If however you want to enter a contractual agreement for handing over your wealth in the event you die, setup a living will, or whatever, then you should be able to do it, with the person you're having sex with, or your mother, or your best friend.  Whatever.

This whole stupid gay marriage thing kind of misses the point of why is the government getting involved in what should be strictly a religious ceremony?

Tue, 03/26/2013 - 19:18 | 3379366 Things that go bump
Things that go bump's picture

Marriage may be, in some instances, a religious ceremony, but it is and has been a civil contract for millenia.

Tue, 03/26/2013 - 23:26 | 3379424 Things that go bump
Things that go bump's picture


Tue, 03/26/2013 - 21:37 | 3379871 Miffed Microbio...
Miffed Microbiologist's picture

Great arguement! One of my biggest pet peeves. Why does one have to have a piece of paper from the State saying who you can sleep with? Dear lord I have gone over this time and time again with my gay associates and they just don't get it. They say they want societal legitimacy. I damn near fall down laughing at that one. A piece of paper can do that? Didn't know it was so magical. If I could go back in time and never get a marriage license I do it in a heart beat. That stupid paper costs us $5000/ yr in income taxes. At this point it's too expensive for us to dissolve it but I told my daughters I'd strangle them if they followed in our foolish path. Marriage should only be a religious ceremony between 2 people and the state ca go fuck itself!


Tue, 03/26/2013 - 17:22 | 3378996 Rentenmark
Rentenmark's picture

They only cared about immoral wars when Bush was leading the charge.  Now that Obama is leading them it is okay.  The criminal media that carries the water without realizing its the same dam thing is astonishing.  


I used to see a group of peace advocates along the roadside on my way to work everyday when Bush was in office, have not seen them since Obama took charge.  Programed and brain dead fools.

Tue, 03/26/2013 - 18:11 | 3379132 IrritableBowels
IrritableBowels's picture


Coworker 1: I finally got an Iphone!

Coworker 2:  Cool! Now when I text you it will be blue!


I spent part of the day researching protection dog training.

Tue, 03/26/2013 - 17:42 | 3379057 Freaking Heck
Freaking Heck's picture

What's the matter with these people?

Don't they have Cypriot Idol to watch?

Tue, 03/26/2013 - 18:00 | 3379109 Wile-E-Coyote
Wile-E-Coyote's picture

The stupid bastards should have been burning building last week. Horse, gate and bolted.

Too little too fucking late. THE FUCKING MONEY IS GONE YOU DUMB FUCKS.

Tue, 03/26/2013 - 18:23 | 3379175 NWO1776
NWO1776's picture

In the last picture, Delta Epsilon Nu's sorority looks really really really upset.  I think they all ought to take xanax, drink, black out, and hope it's all a dream.  Wait a second…  This has been my experience with the sororities at my University…  Maybe it's not so bad over there after all???

Tue, 03/26/2013 - 18:34 | 3379215 Larry Dallas
Larry Dallas's picture

I honestly believe that these kids don't have the genetic makeup, intestinal fortitude, etc. to do anything worth watching.

Nothing will happen. Just another "black swan" that came and went. The more of these happening in a tigher, compressed timeline, the faster it goes down without a whimper of pushback.

Although I did just come back from the Social Security Office today getting a new card and I saw nothing different there as I see in this pictures here...

Tue, 03/26/2013 - 14:54 | 3378184 camaro68ss
camaro68ss's picture

To Arms To Arms...... Wait... those were taken from you decades ago.... nevermind, make larger signs, that will show them!

Tue, 03/26/2013 - 15:01 | 3378235 toys for tits
toys for tits's picture

All the protesting chicks should take off their tops...then they'll get worldwide news coverage.

Tue, 03/26/2013 - 15:06 | 3378266 ILLILLILLI
ILLILLILLI's picture

Well-armed with a pair of bazookas is the way to go...!

Tue, 03/26/2013 - 18:07 | 3379127 Ness.
Ness.'s picture

INI (?)

Tue, 03/26/2013 - 15:49 | 3378556 MsCreant
MsCreant's picture

I've known of female protesters to go totally nude. Laid themselves out in a giant peace sign. It was covered by the press. A step daughter of mine participated.

Tue, 03/26/2013 - 15:59 | 3378612 Mad Mohel
Mad Mohel's picture

Proof or it didn't happen.

Wed, 03/27/2013 - 03:17 | 3380330 Likstane
Likstane's picture

I still won't believe until I see pics. 

Tue, 03/26/2013 - 15:09 | 3378248 Banksters
Banksters's picture

Exactly.  Regardless of the protests across club med, not one demand was answered.    When bullets start flying, I suspect the money cockroaches may change their tune.   I wish life didn't have to be that way, but as many rightly say, the 2nd amendment protects all the others.

Tue, 03/26/2013 - 15:27 | 3378406 bank guy in Brussels
bank guy in Brussels's picture

No, guns were not 'taken from' Cypriots ...

There are a lot of guns on Cyprus, like in Greece, typical Cypriot or Greek family often has a shotgun

In fact there are probably about 100 million privately owned civilian European guns ... we have two target shooting clubs in Brussels, Belgium ... about 18 million guns in nearby France, etc. ...

Funny how Americans so often think they are the only ones with guns

* * *

What all the gun-bluster talk never seems to face, is that guns are the LAST resort, and they actually don't help much with the middle part of politics, as things get corrupt

300 million guns have not stopped America from sliding into police-state fascism, or having a gulag of 2.3 million prisoners, or having most Americans in terror of being criminally charged and getting railroaded ... Americans submit and get carted away in handcuffs, one by one, to the gulag ... a few fight and die in a hail of bullets, but not many

The reality of guns versus the government is this - especially in America:

If you are thinking of pulling a gun, you must realise it is likely the LAST BATTLE of your life, after drawing that gun and menacing with it, you are at least going to jail, or, if in America, you are likely DEAD

A revolution with guns, means the FIRST PEOPLE TO USE THEIR GUNS WILL ALMOST CERTAINLY DIE ... For all the American bluster about guns, for all the cocky talk, it does not seem that many gun owners are facing that 'moment of truth' reality

We all need guns against the Nazis ... but it must be faced that use of your gun is a moment of possible martyrdom

How many of today's often non-religious people in the West, are brave enough to draw a gun and die?

Facts of gun ownership and policies in countries around the world:

Tue, 03/26/2013 - 16:17 | 3378710 Professorlocknload
Professorlocknload's picture

No need yet for the guns to come out in America. The Bread and Circuses are far too lucrative and entertaining.

Tue, 03/26/2013 - 16:34 | 3378787 americanspirit
americanspirit's picture

Well-reasoned as always bank guy. So, doesn't it make sense that the first people to use their guns will be old people who don't mind dying a few years early as long as they can take at least one corrupt bastard with them? An angry young guy with his hands under his parka walks into a bank or a politician's office and alarm bells are going to go off. A kindly old duffer in a suit who looks like your grandpa is going to be able to get a lot closer to the target, whatever that target is.

It doesn't have to be a Senator or Congressman or Wall Street banker either - the mayor, county commissioner, or local BOA/WF/JPM branch manager will do just fine. This kind of thing could very easily start from the bottom up. So just keep pushing, assholes. Hey - why not tell me I can't own gold OR a gun. That'll do the trick.

Tue, 03/26/2013 - 17:15 | 3378970 IdiocracyIsAlre...
IdiocracyIsAlreadyHere's picture

Not to mention in the US a lot of the people most prone to the blustery gun talk are hard core authoritarians themselves - cheering on the expansion of police powers, throwing people into jail for what they put in their bodies, the harrasment of people who don't look like them.  I won't even get started on their general love of all things military and "hell yeah" attitude towards the bombing of people in countries they don't like. 

This is why despite being 100% pro gun rights I have no use for organzations such as the NRA (police and military backers to the extreme) and the average US gun enthusiast.  I know when push comes to shove these people do NOT come down on the side of liberty.

Tue, 03/26/2013 - 18:16 | 3379145 IrritableBowels
IrritableBowels's picture

"We'll put a boot in their ass, it's the American Way!!!"

Tue, 03/26/2013 - 16:10 | 3378681 fattail
fattail's picture

All in favor of holding a parade showing how really upset we aee that the bankers just took 40% of our property, legally???, and looking like a bunch of feckless sheep, raise your hand.

Another bail in.  Another epic corzining of the unsuspecting public.  

Three cheers for god's work.

Coming to an italian and spanish bank soon.

How do you say corzined in italian?

Tue, 03/26/2013 - 17:58 | 3379106 Ness.
Ness.'s picture

It's not 40% anymore, bub.  You gotta keep up.  Times they are a changin'.


3/26/2013 4:10:54 PM (CY) Cyprus Fin Min Sarris: Uninsured Laiki (Popular) Bank depositors could see haircuts of up to 80% - financial press- Uninsured depositors may not get payouts for as much as 7 years. - Employees of Laiki (Popular) Bank will face wage cuts. - Informed Eurogroup deal is harmful for the EU; Germany and IMF insisted on 'bail-in'. - Reiterates banks to reopen on Thursday. - Capital controls to be finalized by Wednesday. - Hopes to receive 1st aid tranche by end May, early June. - 2nd bailout not likely, but it will depend on cypriot implementation of deal.

Tue, 03/26/2013 - 14:55 | 3378185 Neethgie
Neethgie's picture

So? Most people here and even zh believes in capitalism itself
Some of us think the bust banks should have gone under entirely
I feel bad for the kids it's not their fault society is moronic

Tue, 03/26/2013 - 15:06 | 3378263 Neethgie
Neethgie's picture

Thanks for the negatives, some of you are just the hipster zhers with no idea of ideology, just here because zh is so flavour of the month.
Well what would you hae had happened in Cyprus? Bailout no haircut? Had draghi fire up the printing press ala the bernank ? Let all the fail banks stay alive like the zombie ones in the us and uk? Fact you complain about bankers but seem to be totally in favour of giving Them job security.

Capitalism needs failure , these banks should die and the people who loans them money should be caught in the carnage too, why should the state socialise private profits via interest in the form of a guarantee?

Tue, 03/26/2013 - 15:10 | 3378286 fonzannoon
fonzannoon's picture

Cyprus should be allowed to have the option to default and leave the Euro. 

What they do should be up to their people to decide.

Tue, 03/26/2013 - 15:15 | 3378317 Neethgie
Neethgie's picture

Cyprus will have to leave the euro eventually hopefully soon so these people can get their lives back

Tue, 03/26/2013 - 15:18 | 3378342 fonzannoon
fonzannoon's picture

The other aspect that is a bit bothersome is the idea that a group of people were able to back door their money out of the bank the week it was closed while the cyprus citizens were stuck with a few bucks from the atm. Not exactly capitalism in action.

Tue, 03/26/2013 - 15:28 | 3378415 earnyermoney
earnyermoney's picture

Maybe these citizens on the street need to learn a few things from the Russians. I'm sure the Russians are good at enhanced negotiation techniques.

Tue, 03/26/2013 - 15:21 | 3378360 Joe moneybags
Joe moneybags's picture

Cyprus does have the option of defaulting and leaving the Euro.  They may choose that option in the next year or two.

Tue, 03/26/2013 - 16:23 | 3378732 time for trumpton
time for trumpton's picture

If the government answered to the people, they probably would.

That would be almost democratic. This is not the plan of Troika.

Wed, 03/27/2013 - 00:32 | 3380217 Freddie
Freddie's picture

The choices are stay in the euro and you get partially/mostly wiped out, destroyed and live as a slave.  Or the threat of total destruction and no money at all if you try to leave.   The EUSSR and euro are totally evil.

The same shit in the uSSA, much of Asia at least China and many other countries.  Prison planet is pretty accurate.

Tue, 03/26/2013 - 15:26 | 3378392 Urban Redneck
Urban Redneck's picture

Whose haircut?  The bankers on the other side of that Swiss cheese ring fence are hairier than a French housewife...

ECB: "10 billion for you, 9 billion for me... Oh, you can't actually pay me the whole 9 billion?  Just take what you're short from those sheeple accounts you have on ice..."  


Tue, 03/26/2013 - 15:37 | 3378489 Miffed Microbio...
Miffed Microbiologist's picture

It appears to me there hasn't been capitalism in its true definition for many years. So if capitalism needs failure, don't you have to have capitalism first?


Tue, 03/26/2013 - 15:24 | 3378276 fockewulf190
fockewulf190's picture

This isn't capitalism when banks are not allowed to fail. That said, why on earth did the Cypriot banks go all in buying Greek government bonds? They speculated and lost the future of their own country, gambling with hot russian money for the most part. Flat out insane.

Tue, 03/26/2013 - 15:53 | 3378572 MsCreant
MsCreant's picture

Do you honestly think it was a choice? I don't. I think they were forced, made promises, and given reassurances.

Tue, 03/26/2013 - 17:06 | 3378926 Tao 4 the Show
Tao 4 the Show's picture

Indeed. Most of the morality/capitalism talk is ridiculous. The people had no say in what the banks did or whether they were forced by the Euro guys. People with power are placing risk where they wish. Those with Euro ambitions forced the purchase and distribution of Greek bonds in order to hold the Euro together. The depth of immorality is beyond words and unexpected by a population grown accustomed to some sense of order and fairness. Now, it just a question of time until people catch on.

Tue, 03/26/2013 - 23:23 | 3380130 chindit13
chindit13's picture

I do not think they were forced, unless you call membership in the EU "force".  Cyprus joined the EU, then realizing they were operating under the same rules and currency as Germany and the Netherlands, looked around for a "competitive advantage".  Like Iceland before them, they discovered it in offshore banking.  Again mirroring Iceland, they came up with a very simple solution: offer higher rates on savings than anybody else. (I know Iceland is not EU, but the choice of competitive advantage was the same.)

That was the easy part.  Offer higher rates, sign a bilateral tax agreement here and there, and the funds flow in.  Then came the hard part:  how to earn that higher yield.  Culturally familiar with Greece, they saw Greek sovereign paper as attractive, especially when it appeared as if the EU was going to stand behind it.  As the Greek crisis developed, Cypriot banks had two choices:  bail or double down (assuming now the EU would stand behind Greece).  It seems they doubled down. 

When Greek paper continued to tumble, eventually getting the retroactive CAC haircut, Cyprus was up against it.  They took two ill-fated steps in a hope to alleviate the pain.  They took a loan from Russia (on a government level).  They also raised savings rates, hoping to draw in even more money, essentially creating a Ponzi Scheme of sorts.  They even paid those high rates (upwards of 11%) for a time, which of course drew in even more money.

Eventually they ran out of time and money.  They had taken the huge haircut on Greek paper, and they had nominal deposits of as much as 100 billion euros (the total is not quite clear), which is a multiple of Cyprus' then $24 billion GDP, all trying to earn 11% in a ZIRP world.  The music stopped.  The assets of the banks became a fraction of the deposits.  The bail-out/bail-in isn't so much a theft, it is just an admission that the money vaporized.  The EU/ECB deal essentially just stated the obvious.  Gone is gone.

What puzzles me so much in the past week (some of the oddities of the deal notwithstanding) is that on this site there has been so much scorn directed at the deal.  I ask, given the two choices (and there are only two, fantasy notwithstanding) between the EU/ECB deal or TARP and QE, which is preferable?

In the US, when banks were on the verge of going Cypriotic, rather than wind them down by hitting equity, then bonds, then uninsured deposits (aka "capitalism"), then letting new investors come in and buy the carcass, the US passed the cost to completely innocent taxpayers, via TARP and then the various QEs.

I know people here need to be angry, but it would be easier to understand if the anger was more consistent.  Here, people are angry at Choice I (TARP and QE), and equally angry at Choice II (bank restructuring that hits creditors---depositors are creditors).  There are no other choices.  Those who chant "Do an Iceland" don't seem to realize that telling foreign depositors to f-off is exactly what Iceland did.  Now Cyprus has done it to its foreign depositors, whether they be rich Russian or British pensioners, as well as locals who held more than 100K euros, and everyone is apoplectic.  TARP and QE are better?

Those who say the EU "imposed" the solution on Cyprus fail to realize that if Cyprus was not an EU member, their government would have had to do the exact same thing, perhaps to an even larger degree (because no EU money would be coming in).  People say Cyprus should have had the choice.  What choice (actually, Cyprus did choose to go to the EU/ECB)?  The money is GONE.  One cannot choose to make it rematerialize.  In a sense, the EU did the Cypriot Government a favor by taking the heat, so that Cypriot protestors can carry signs that say "Troika Go Home".  If the Troika goes home, the deposits do not suddenly rematerialize.  The bad guys in all this are the Cypriot bank investment committees and risk managers, and the previous Cypriot government and bank regulators, but one could claw back the total net worth of all of them and the money would still be gone.

Tue, 03/26/2013 - 23:31 | 3380147 chindit13
chindit13's picture

I will add....despite his equivocation, Jeroen Dijsselbloem may have fired the first shot across the bow of what is TBTF.  By reminding people that uninsured means uninsured, depositors might begin to take a closer look at the banks where they keep their funds.  Realizing they are in fact creditors, they might begin to move deposits away from the megabanks who are filled with non-marked-to-market assets and trillions in derivatives, and spread the money out into smaller regional and local banks.  If and when deposits leave the megabanks, these banks become smaller.  If enough disintermediation occurs, the megabanks shrink to a size that is no longer TBTF.  Imagine JPM becoming a Laiki, that is, shuttered.

Obviously if enough deposits depart rapidly, the whole system will be thrown into a tizzy as megabanks try to fund assets that aren't worth their book value.  Isn't that what everyone wants here? 

Wed, 03/27/2013 - 13:47 | 3382018 MsCreant
MsCreant's picture

You are the second person here I deeply respect here with this perspective. I saw asset man saying something similar the other evening.

I will keep my mind open.

I can't help but "feel" which is different than knowing, that Cyprus and all of them are insolvent, and Cyprus was asked to "buy" (with what real money my friend?) the Greek bonds in some kind of "swapish" chicanery in exchange for not being announced to be the one who is insolvent, today. Said another way, they are all insolvent, they all keep lying for each other.

Hope that made sense. I think blackmail, not bit coin, is the coin of the realm. The crisis binds them in a web of lies.

Tue, 03/26/2013 - 16:26 | 3378748 kchrisc
kchrisc's picture

It is not an issue of "moronity." It is an issue of fraud and criminality.

The banksters stole, via fraud, the hard eraned money and futures of millions of people. The government assisted the banksters in carrying out this masive fraud in their own venal and criminal way and abdicated their natural and only role as arbitrator for justice. Now the government is assisting the banksters in stealing even more to prop-up the failing criminal enterprises instead of bringing the "fraudsters" to trial on fraud.                   hujel

Tue, 03/26/2013 - 14:55 | 3378186 Atlas35
Atlas35's picture

Move your money to Switzerland!

Offshore Banking Guide: Swissquote Bank

Tue, 03/26/2013 - 14:58 | 3378206 Ruffcut
Ruffcut's picture

Move my money as metals to the same church I go to on sunday, St. Mattress.

Tue, 03/26/2013 - 14:54 | 3378188 whotookmyalias
whotookmyalias's picture

Things will not change until uprisings like this spread around the world.

Tue, 03/26/2013 - 14:58 | 3378215 Winston Churchill
Winston Churchill's picture

Only bloodletting is going to rid us of the bankers I'm aftraid.

The power that money indicates will have to be pried from cold dead hands.

Not that I'm advocating it, just the lessons of history.

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