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Is This The Diabolical "Master Plan" Behind Crushing Europe's Depositors

Tyler Durden's picture


Last week, when we commented on the absolutely idiotic Eurogroup proposal (now voted down and replaced by an equally idiotic "bank resolution" proposal which will see uninsured deposits virtually wiped out) to tax uninsured and insured deposits, we jokingly suggested that this may be merely the latest ploy by the legacy status quo to achieve one simple thing: force depositors across the continent (and soon, world) to pull their money out of a malevolent, hostile banking system and push that money into stocks, or simply to spend it. This would help finally defeat the biggest bogeyman of the centrally-planned reflation attempt in the past 4 years - the absolutely dismal velocity of money which drops every time the G-7 central planners inject liquidity into stocks. 

We were joking, because it would be beyond conspiratorial to suggest that a central bank could go as far as wiping out the wealth and savings of an entire nation in order to promote broken monetary policy. It would be outright idiotic and not to mention criminal. Why purposefully endanger depositors, and thus an entire financial system, just to spook them and their money? Or so we thought until we read the following just as "conspiratorial" take from Deutsche Bank's Jim Reid:

Maybe the lesson from all of this is that if you are fortunate enough to have a fair degree of money you might be better off spending it! Maybe that’s the master plan here? Boosting activity by forcing people to use their money rather than deposit it! Indeed I wonder how long it’ll be before an equity strategist suggests that this is bullish as money might now leave deposit accounts and go into equities!

Sarcastic humor or sad, insolvent reality... You decide.

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Tue, 03/26/2013 - 11:10 | 3376955 The Juggernaut
The Juggernaut's picture

Every collapse is going as planned.  Force loans and debt to purposely break down a country then catch them when they fall.

Tue, 03/26/2013 - 11:10 | 3376978 Cdad
Cdad's picture

Indeed...and the cucumber sandwiches are delicious, as well.

Tue, 03/26/2013 - 11:15 | 3377016 BaBaBouy
BaBaBouy's picture

PROTECT YOURSELVES From The DieselBergs ...


Run To GOLD !!!

Tue, 03/26/2013 - 11:17 | 3377032 Pladizow
Pladizow's picture

I agree, spend all your bank fiat on gold!

Tue, 03/26/2013 - 11:17 | 3377049 flacon
flacon's picture

Gold is up $1 today. Woo-hoo! 

Tue, 03/26/2013 - 11:28 | 3377133 nope-1004
nope-1004's picture

Being short of cash is never a planned thing.  Stealing is planned, but the bankster bets gone bad in nefarious instruments were definitely not planned.  The result though is the cash grab is on.  Buy gold and silver.... that's all you can do.  Leaving your money in a bank is too risky.



Tue, 03/26/2013 - 11:34 | 3377175 resurger
resurger's picture

spend your cash on gold and silver

Tue, 03/26/2013 - 11:58 | 3377324 TerminalDebt
TerminalDebt's picture

I prefer to spend my money on blow and strippers.

I guess the next step is to spend it on blow and jobs.

Tue, 03/26/2013 - 12:56 | 3377630 DblAjent
DblAjent's picture

Secret Service Agent (former?)

Tue, 03/26/2013 - 12:58 | 3377643 fourchan
fourchan's picture

I fully intend to address this in far greater detail within days, but ask yourself, with all the law enforcement available in the United States, who the DHS is preparing to declare war on inside the U.S.? With the massive purchases of almost 3,000 new armored vehicles (MRAPs) and 1.6 BILLION rounds of ammunition, with associated weapons, who in the U.S. do they intend to kill? Short answer: You and me! Anyone they think is standing in their way to impose a new Marxist government! Anyone who stands for the U.S. Constitution! We must demand that our representatives (Senators and U.S. Representatives) stand firm and immediately force, by law if necessary, the DHS turn over their arsenal of war making equipment to the Department of Defense. Nothing justifies this massive arms build up of an agency whose jurisdiction is internal within the United States of America! They are preparing to go to war against American citizens! Don't wait on people like John McCain or Lindsey Graham to recognize the threat! Citizens you must demand Congress act to force these weapons, ammunition, and armored vehicles be turned over immediately to the DoD! Then let us dissolve the DHS (or SA, or SS... whatever you call them)! Hear me, America. The DHS can only be preparing to declare war on us with the arsenal of weapons and equipment they are purchasing as they methodically dismantle our legitimate military made up of patriotic Americans! If I live and still have a page to speak out on later this week, I will discuss a proper Constitutional response in a couple of days. Standby. Out. Captain Terry M. Hestilow, United States Army, Retired. TAKE ACTION: Contact your REPS in Congress and demand answers! 202-224-3121 Senate, 202-225-3121 House http://www.house.gov/representatives/find/

Tue, 03/26/2013 - 13:14 | 3377701 Pegasus Muse
Pegasus Muse's picture

"Don't wait on people like John McCain or Lindsey Graham to recognize the threat!"

What makes you think they aren't in on it? 

"It's a Big Club and you ain't in it."  http://www.youtube.com/watch?v=i5dBZDSSky0


Tue, 03/26/2013 - 13:26 | 3377774 Lordflin
Lordflin's picture

Well fourchan, I don't think this is news to anyone here... problem with your solution is that there is no relief within the political system.

When folks lose control at the ballot box they resort to the bullet box. This is going to end ugly...

Tue, 03/26/2013 - 13:42 | 3377846 LFMayor
LFMayor's picture

4chan, you get an up arrow for preaching to the choir.  Your ideas about votes would best be summarized in a video comparison of the effects of both votes and  of 7.62x39 cartridges on ballistic gelatin blocks.

There's only one way to fix this mess and be sure.

Tue, 03/26/2013 - 23:37 | 3380156 matrix2012
matrix2012's picture

Re: Department of Homeland Security (DHS) and that agencies preparation for war against citizens of the United States of America


The Honorable Senator John Cornyn, State of Texas

United States Senate

517 Hart Senate Office Building

Washington, D.C.  20510


Dear Senator Cornyn,

"It is with gravest concern that I write to you today concerning the recent appropriation of weapons by the Department of Homeland Security (DHS) that can only be understood as a bold threat of war by that agency, and the Obama administration, against the citizens of the United States of America.  To date, DHS has been unwilling to provide to you, the elected representatives of the People, justification for recent purchases of almost 3,000 mine-resistant ambush-protected (MRAP) armored personnel carriers, 1.6 billion rounds of ammunition (with associated weapons), and other weapons systems, when, in fact, the DHS has no war mission or war making authority within the limits of the United States of America."

. . .

Captain Terry M. Hestilow

United States Army, Retired

Fort Worth, Texas

March 23, 2013



Tue, 03/26/2013 - 11:47 | 3377266 redpill
redpill's picture

They'll just move their cash to a bank outside the EU.  Suddenly Al-Rajhi Bank looks pretty reasonable.

Tue, 03/26/2013 - 12:49 | 3377596 Tortfeasor
Tortfeasor's picture

Problem with banks outside the EU is they are all denominated in fiat.

Tue, 03/26/2013 - 13:04 | 3377670 Handful of Dust
Handful of Dust's picture

Euthanizing EU depositors, one muppet at a time.

Tue, 03/26/2013 - 12:34 | 3377488 deKevelioc
deKevelioc's picture

Performance (%)



1-year 5-years 10-years

The Relic -4.71 +70.99 +384.4

Tue, 03/26/2013 - 11:36 | 3377191 francis_sawyer
francis_sawyer's picture

Push all savings into the bloated valuations of:


- equities

- bonds

- paper commodities

Do it fast, so that the holders of all things denominated in joobux can transfer their wealth into hard assets...

Tue, 03/26/2013 - 11:44 | 3377251 BLOTTO
BLOTTO's picture

By the time you finish reading this (30's)...the Federal Reserve just counterfeited/printed off $1,000,000 into the economy...


1 minute = $1.96 million


Common sense....COMMMOOOONNNN SENSE and MATHEMATICS says - this ends badly...for fuck sakes

Tue, 03/26/2013 - 12:53 | 3377470 francis_sawyer
francis_sawyer's picture

I'm happy to announce that it was not francis_sawyer who was responsible for the abovementioned "counterfeitting" that happens each & every minute of each & every day...


Nevertheless ~ I'm the one who gets the JUNKS... [Even though everybody agrees with BLOTTO's statement]...

But who am I to argue... If it gives you a warm sense of security to 'beat around the bush' to put on airs that you're civilized & to avoid people hating you [because someone devoted enormous resources into conning you to feel that way]...

Knock yourself out..

Tue, 03/26/2013 - 13:23 | 3377739 Pegasus Muse
Pegasus Muse's picture

"Common sense....COMMMOOOONNNN SENSE and MATHEMATICS says - this ends badly...for fuck sakes"

Hyperbolic -- check it out


Money supply accelerating

Alasdair Macleod (GoldMoney.com)


Tue, 03/26/2013 - 13:46 | 3377844 francis_sawyer
francis_sawyer's picture

Money Supply Accelerating =


Way back in the old days, when banking was more simple [but the swindle was the same]... The banker would take your gold and issue a piece of paper with CREDITS [that you used to run around town to buy your pies & other things with]... The bankers did this with every artisan, engaged in every mode of confecture & commerce that was there... Little by little, the bankers would print up more IOU's than they actually had 'gold', on deposit, in the vault... Inevitably ~ the time came when a critical amount of people demanded their gold back for the IOU's they'd received...

By then, the banker had skipped town...


I can't really say that much has changed... ESPECIALLY the part that, IN THE PRESENT DAY VERSION... The 'bankers' mostly are cut from the same cloth that they've always been cut from... [the ones that AREN'T, technically, are simply in apprenticeship]...

Even when this society crumbles to the ground, which it will most assuredly do... It will be resurrected again... & the same script will be followed...

Tue, 03/26/2013 - 11:38 | 3377199 TruthInSunshine
TruthInSunshine's picture

Paul "Break Shit & Rebuild It" Krugman just tweeted that:



Should take U.S. deposits above FDIC limits & use monies to build union owned/operated windows/glass breaking device factories to stimulate economy.

Tue, 03/26/2013 - 11:43 | 3377241 Cdad
Cdad's picture

I've read the prospectus.  

Hearing that terrified European capital is flooding in, and Krugman will likely overtake Buffet in personal wealth in the next couple quarters.

Hearing that Ben just crapped out on that $3 billion today, but he's going to the cash machine and will be right back.

Hearing that all is well.

Also hearing that everything is fine.


Tue, 03/26/2013 - 12:59 | 3377649 fourchan
fourchan's picture

or ghost citys

Tue, 03/26/2013 - 11:17 | 3377050 notbot
notbot's picture


Tue, 03/26/2013 - 11:22 | 3377088 McMolotov
McMolotov's picture

I hate Krugman, too, but the absolute worst place on the planet is the comments section of a Krugman column. It's an echo chamber of condescending cunts congratulating each other on their astounding brilliance and moral superiority.

If someone were to invent a machine which made it physically possible to punch another person in the face through the internet, I'd be first in line to buy it so I could beat the living shit out of those pretentious twats.

Tue, 03/26/2013 - 11:25 | 3377122 Salah
Salah's picture

Right there with you, Dude.

Kruggie = "Cliff Claven with a Phd"

Tue, 03/26/2013 - 12:20 | 3377436 Max Hunter
Max Hunter's picture

I'm surprised anyone here even contributes there..

Tue, 03/26/2013 - 12:37 | 3377523 MillionDollarBogus_
MillionDollarBogus_'s picture

I am Paul Krugman.

You want me to just go away, but you can't ignore what I say.


Tue, 03/26/2013 - 12:46 | 3377574 deKevelioc
deKevelioc's picture

Grab the trash on your way out, please.

Tue, 03/26/2013 - 13:20 | 3377730 Big Slick
Big Slick's picture

"It's an echo chamber of condescending c>nts congratulating each other on their astounding brilliance and moral superiority."

As I wait interminably for the end, I sometimes wonder if the same could be said about me and my fellow ZH'ers. 

Echo chamber risk.  How to mitigate?

Tue, 03/26/2013 - 13:40 | 3377835 akak
akak's picture

Be a condescending prick instead.

Tue, 03/26/2013 - 12:50 | 3377593 New_Meat
New_Meat's picture

and don't let the door hit you in the ass

Tue, 03/26/2013 - 13:26 | 3377770 Ourrulersknowbest
Ourrulersknowbest's picture

I'm your no1 fan paul

Tue, 03/26/2013 - 12:40 | 3377545 smlbizman
smlbizman's picture

its like the grossest thing ever....you still have to look

Tue, 03/26/2013 - 11:26 | 3377125 morning
morning's picture

A baseball bat and a friend at (insert ISP or backbone provider)

Tue, 03/26/2013 - 11:27 | 3377129 ParkAveFlasher
ParkAveFlasher's picture

I love this comment.  If Dr. Seuss was an Austrian economist with Tourette's (sp), he would write comments like that.


Tue, 03/26/2013 - 15:23 | 3378371 jimmytorpedo
jimmytorpedo's picture

He had me with "condescending cunts" and then, to finish with a flourish pulls out the "pretentious twats".

Very erudite use of anatomical profanity with some good old face punch as the meat.

McMolotov has proven himself as both cosmopolitan (cunt and twat) and a regular plumber joe with the face punch.

Nice poetic antipodality.

Tue, 03/26/2013 - 11:28 | 3377139 derek_vineyard
derek_vineyard's picture

not necessarily equities.....but if cash is not safe, it will be placed to investments of all types from real estate to equities to 'just spending it'.......... what a way to flush out the cash and force it into economy

if you live with no debt and within your means...you may be targeted as the enemy

Tue, 03/26/2013 - 12:57 | 3377639 ATM
ATM's picture

Cue the spark ot the velocity of money problem....

Tue, 03/26/2013 - 11:38 | 3377205 SpiceMustFlow
SpiceMustFlow's picture

Couldn't agree more man, if one needs to either a) boost one's own self esteem (only place better is wal mart) or b) lose all faith in humanity fucking comments on "conscience of a liberal" (puke) is the place to be

Tue, 03/26/2013 - 11:35 | 3377182 resurger
resurger's picture

expect 1 down arrow very soon..


Tue, 03/26/2013 - 11:24 | 3377114 tickhound
tickhound's picture

"Why purposefully endanger depositors, and thus an entire financial system, just to spook them and their money? Or so we thought until we read the following just as "conspiratorial" take from Deutsche Bank's Jim Reid:"

Tylers, Jim Reid is just stealing my material.  

Zerohedge's tickhound explained the SPOOK yesterday without the fluff....


"Master Plan" explained in plane-glish,

unintended consequences aside... Seems this message to unsecured deposits (FDIC >250$) is consistent with the "discourage saving encourage borrowing/gambling" systemic hailmary self-preservation theme."

Forcing cash into the safety of equities and bonds.  Sacrifice a few cypriots and money moves.  The world's been milking savers for a while now...

Control the out-flow... seems all on par to me.

Spend or else.  Good for big-banks, consolidation... free plastic pacifiers for the serfs... crush gold, oil... win-win.

EVERY crisis and the invisible fence gets BIGGER.


- Wow, Jim, you're a freaking genius.

Tue, 03/26/2013 - 11:29 | 3377156 Meremortal
Meremortal's picture

Well, no. It's very easy to open multiple accounts at multiple banks and stay totally insured. I've done so for many years.



Tue, 03/26/2013 - 11:35 | 3377188 TheSilverJournal
TheSilverJournal's picture

If you think you're "totally insured," you better think again. The only thing that's sure is that the wealth in your bank account will lose value, either from the inflation tax, or from a sharp devaluation when the nation restructures its debt.

Tue, 03/26/2013 - 12:01 | 3377335 Meremortal
Meremortal's picture

Yes, I understand that. That's why I have a 400 acre farm bugout spot that can operate off the grid if need be.


Bank accounts are just one part of a system of personal economic well-being.

Do NOT follow this link or you will be banned from the site!