This page has been archived and commenting is disabled.
And Scene: Big Cypriot Depositors Facing Complete Wipe Out
9.9%? 30%? 60%? 80%? Nope - according to the latest from Reuters, the cash-on-cash return to all uninsured depositors in the healthy, i.e., only remaining big Cyprus bank, will be a big, fat doughnut.
In what appears to be drastically worse than many had hoped (and expected), uninsured depositors in Cyprus' largest bank stand to get no actual cash back from their initial deposit as the plan (expected to be announced tomorrow) is:
- 22.5% of the previous cash deposit gone forever (pure haircut)
- 40% of the previous cash deposit will receive interest (but will never be repaid),
- and the remaining 37.5% of the previous cash deposit will be swapped into equity into the bank (a completely worthless bank that is of course.)
So, theoretically this is 62.5% haircut but once everyone decides to 'sell' their shares to reconstitute some cash then we would imagine it will be far greater. Furthermore, at what valuation will the 37.5% equity be allocated (we suspect a rather aggressive mark-up to 'market' clearing levels).
Critically though, there is no cash. None. If you had EUR150,000 in the bank last week (net of insured deposits which may well be impaired before all is said and done) you now have EUR0,000 to draw on! But will earn interest on EUR60,000 (though we do not know at what rate); and own EUR56,250 worth of Bank of Cyprus shares (the same bank that will experience the slow-burn leak of capital controlled outflows).
It seems, just as we warned, that the deposit outflow leakage that we discussed did indeed weaken the situation of the large banks significantly.
As Reuters adds, the toughening of the terms will send a clear signal that the bailout means the end of Cyprus as a hub for offshore finance and could accelerate economic decline on the island and bring steeper job losses.
»
- 50869 reads
- Printer-friendly version
- Send to friend
- advertisements -
Your problem is that you are a hateful moneychanger, and rootless cosmopolitan.
My joy is that I love my country. We who love our country are one. You who love money above all else are lonely.
We will profit, as money is one thing in our life, not all our life. You zionists will lose.
New Egg, Your a good example as to why Droning might be appropriate in the US.
Your sick, twisted, and probably beyond help. If your on drugs get off - If your not on drugs perhaps they may help. In either event, give it a rest and look into the Gerber Life Grow Up plan for as much as you can while your still eligible without underwriting.
RhinoNazi,
You promote any drug, for you are a hateful thing, zionist. Gerber, Bilderberg and Drones suit you, shill.
Do learn proper punctuation and spelling before you admonish me, pet. Zionist.
hey New England, you still pissed that you got kicked out of the playoffs?
Jesus kicked out the moneychangers BECAUSE they were liquidating the wealth of the Jewish people by knowingly trading them roman currency that was shit compared to the pure silver demanded by the Judaic law...in front of a..THE holy temple. They were all Jews. The Romans allowed this to happen.
Wrong--the "money changers" took Roman money so as to issue the specific shekels ritually required for contribution. And made an obscene profit from it.
"It is written, 'My house shall be a house of prayer', and ye have made it into a den of thieves."
If a twisted, glowing slag heap of depleted uranium could talk, it would talk like you. Fuckface.
Your Iran obsession goes deep, doesn't it?
actually most of that is true- hurling "anti-semite" makes you a typical hebe asshole ( you forgot to add "blah blah blah Holocaust blah blah blah")
You are mistaken, dude. It's getting so that i no longer send links to ZH articles to my friends, because some comments read like something you'd expect to find on Stormfront.
maybe you should hang out at Huffpo...........
Nick has it write...
You have two options:
1) No censure (and everything that comes with it
2) Moderated comments
I'll take number 1 anytime.
agreed.
i just tell my friends to not pay any attention to any comments...not even mine.
:)
we already know how it's going to turn out..
Why waste time haggling over the what's between point A-B
people are wasting valuable time
or trying to convince JSP---It's an exercise in futility
It's going down and it's going to be horrific....plan accordingly
Yep. It is a waste of time for Americans to mither over the zionists and foreigners. They made their bed. Let them lie in it. Our own problem is that our corrupted politicans in Washington are taking money and collude with the zionists and other foreign powers.
Resist, we must.
And because #1 is the rule at ZH, it's why most of us are here. Ironically, this includes pleanty of sockpuppet trolls working to de-legitimize the site through supposed hate speech, as well as real posters that think the same way.
I wouldn't have it any other way.
otto, You Moron - Look at what you just wrote - proving my point. Fuck Off and Choke on New Englands regurgitated puke.
Ignore Otto, Rhino
He has shown his colors as a cross dessing Stasi loving nazi (who apparently owns a car with a tailpipe that empties into an enclosed back seat.)
you just cant make this stuff up
not cleaning sheldon's pool tonight dave?
I stand by what I said kike-you assholes hurl the term antisemite any time you feel threatened in the least bit- luckily people are awakening to the lies that the 12 Tribesman perpetrate. Happy Easter- offspring of Satan.
Did yer mother have any kids that llived? Oh wait...you weren't born, you were shitted.
Jews are over-represented in high-function psychopathy, just as they are in high-level science or medicine.
The problem is that you may need a very skilled Jewish doctor only once or twice in your life, and will probably never run into a brilliant Jewish scientist, but high-function Jewish psychopaths (banksters, neocons, etc.) are raining shit on you for your entire life.
all holocaust??? start small and insignificant... like a mutating cancerous cell having much to do at all regarding the whole, but metastasizes into, 'guilt by association'!
hitler was a classical tyrant, a 5th degree misanthrope... that hated all artist, gays and intellectuals, et.el.,-- a quasi-xenophobic purist as was stalin and mao! hitler had been jilted by the jews... and as far back as post WWI, pre WWII... all industry and landownership, or anything else of value was controlled by the jewish oligarch!
does this sound like america today?
jmo
who owns WS? Who owns all MSM's, TV, Hollywood, Publishing, etc., etc., the State Dept., our MIC's ?!
lastly,... who controls the FRB?!
just the facts, jack!!!
everyone has eye's and ears, but a jewish mother has control???
..
It is the zionists who lie, cheat, steal and kill, yet hide under the nonsensical word 'anti-semite'.
You abuse the countries you live in , zionist.
Jews came to New England in the 1700s, long before that hateful thing zionism was constructed by the gangsta bankstas of the English and European way.
We are rich in money and love of community. True love. We give everything to our own. You give nothing to anyone.
You zionist money whores are poor, and you use us and our people.
You are filth.
You need a loan asswipe?
You need what? Usury?
The more these plans get finalized, the more investors will flee southern European banks.
Lord Almighty smites the zionists and their Luciferian ways.
Moneychangers defy the word of God Almighty, the nature of mankind. The nature of mankind. We the people have a heart, across all continents and across all times. We are One, and the moneychangers hate us. Resist, we must.
So say WE, the One, and our Christian way.
Wtf is that all about?
Humanity, not money changers or politics. Next question...
The Frictional Reserve System.
In other words his shit is stuck and he needs TURBOLAX.
Plus a 20% tax on top of the ammount confiscated from you. To be immediately deducted from the insured $100K you have left in the account. If that $100K is insufficient to cover the additional 20% tax, you will be invoiced the difference.
Somebody had to say it.
That is the way of money changers.
And all the institutions are sure to front run the onslaught of sells orders once the transfers are completed.
Neat little sketti you can eat with a spoon, uh oh, spaghettios!
A democratic nation who sold out to the banksters is going to have to pay the piper. Boo Hoo Hoodle.
This started out bad and is getting worse. I feel for the Cypriot people. Fluoride or no fluoride, some heads need to roll over this - not just the soured Greek investments, but the clearly insider-tipped-off outflows preceding the public notice. And the other-country withdrawal windows for the well heeled back-door friends.
These guys must have trained under our guys. Hope Cyprus isn't just a trial balloon for us in the US.
Hope has been in the WH for 4+ years-how do you think this story will play out?
In Cyprus they do fluorodize water (see section: Fluoridation Across the World):
http://www.state.in.us/isdh/24524.htm
Here in the Netherlands fluorodization was banned in the '70s but most ppl are just as sheepish as in the US. Assuming there is no stealth fluorodization that should discredit the fluorodization theory. I think tHELLivision plays a bigger part. It's the strongest drug there is.
Well, even if your water is not fluorodized, it probably would not make much difference if you used a toothpaste containing fluoride. Supposedly, one small tube of such a toothpaste contains enough floride to kill a small child if consumed in one sitting.
You just think it is your money until the Central Bankers decide it is their money.
On what line does that go on my 1040?
Speak for yourself, not others, pet.
Live by the generalization, die by the generalization.
Most Americans are sheeple, otherwise there would be a statistically relevant drawdown of bank deposits in the US.
This poses for me a bit of a puzzler, as I am reading ZH from my iPhone. Should I simply end my life now?
There have been no riots because the Cypriot people still believe in the dream the media has sold them. They thought that joining the Euro would bring them the same standard of living as Germany, France, Holland and others to the north. The TV has sold them a vision of wealth without much work. Once they joined ,and cheap credit flowed like water, the dream seemed real. Now that it has bust, the people just can't grasp it, not just that this is a blip along the way to a German standard of living and German economic system, but that there never was even the remote possibility that Cyprios based on resources and human capital could just turn around and become a modern Northern European economy.
People may riot, but it might take years. Only when they realize that the media dream is a total farce and lie, then they may riot.
The Cypriots are F**CKD. Rioting may look good on TV but will not bring their money back.
Like rioting is going to solve their problems.
None of the Americans are watching this because right now...
SPORTS!
Hand Picked, Van Halen
Runnin' With the Devil.
My pick, Traffic Low Spark of High Heeled Boys.
Ever since I heard this song as a child, I somehow always thought it was about bankers.
http://www.youtube.com/watch?v=7P_jVxOKMVk
Well Done! +1
But most valuable Americans do go to church, and respect Easter. That is the reason why cynics and DHS buy bullets, and fear Easter.
moar bread and circus... pretty please
Inspired by the Friday Caption:
Dear Banks,
You're Fired.
I said good day!
Is this the Creditanstalt moment? If this does not send people into banks pulling every dime out nothing will.
The sheep won't pull their money out until the Italian and Spanish banks start falling like ten-pins, and by then it is too late. The "high" interest rates that they are getting right now will keep them in the Spanish and Italian banks until the end. Remember, Germany pays negative interest rates, and so does France (even though France isn't exactly safe). There is no safe place to stash Euros that pays a positive interest rate.
spiderman towel clawback, a toaster would have been a more fitting muppet bait
First it was a 10% haircut. Then a 15% haircut. Then a 40% haircut. Now a 100% haircut. At this rate, the depositors will be getting bills next week for additional amounts they still owe.
Oh, wait! The bills will be going out to the taxpayers of Cyprus because the 10B euro bailout was a loan that will need to be repaid. It would come to about $10,000 for every man, woman, and child on the island.
Joseph-Ignace Guillotin
Is Iceland a new template for the Eurozone?
The people have to get together and arrest the crimminal bankster government move to a BitCoin based financial system and show the world it respects democracy and the rule of law. Long live the revolution.
The revolution comes when man puts community above money. Easter is for that. Pity that state school has taught otherwise, imo.
I am with you until the bitcoin, thingy. Still just electronic 1 and 0s. Invest in precious metals silver and lead.
Were you planning to place your BitCoins on deposit with an institution that would pay you interest? And if not, were you planning to buy a home or start a business using BitCoins borrowed from such an institution?
The problem is not the currency - if the ECB were to agree to bail out Cyprus by printing Euros, none of this would be an issue. Cyprus' problem is not that they lack a hard currency - just the opposite in fact.
My problem with the bitcoins, and I do not profess to be an expert in this area, is:
1 - It's happening too fast. No bitcoins and now suddenly everyone rushing into an untested medium.
2 - The parabolic rise in the value of bitcoins. I would think that ZH readers would be seeing red flags all over that.
Again, not slamming bitcoins, I'd just like to learn a little more.
Oh, and isn't the US government about to clamp down on them in some way?
Money changers ignore this Easter, for it is their way to count money, and ignore community.
newengland your anti-semitic comments are not welcomed here.
Did he mention kikes?
He mentioned money changers.
You and your pal are nazionists. You have no respect for Western tradition.
It's a good thing you believe in a woman God, cause if you didn't, you be in a heap o trouble right now.
Your anti-Christian comments are welcomed everywhere.
'anti-semitic' is a contrived phrase for political money changers.
Who is semitic? Nazionists are not. Happy Easter for most...not for you, obviously.
A moneychanger is anti-semite slang for a Jew.
newengland further is apparently making anti-semite humor, that Jews ignore Easter.
go away with your anti-semite slurs, "newengland", they are not welcomed here.
Jesus threw moneychangers out of the Temple. Jesus was a jew, and part of the Christian journey.
You are anti-semite. You are probably a zionist, and maybe a nazionist warmonger.
Zionist is a new thing, a hateful thing, a warmongering thing created by gangsta banksta Luciferian loving money grubbing bloodlines, like Rothschild, Oppenheimer, Sassoon et al, and their lil helpers like Cabot, Morgan, Rockefeller et al.
Who the fuck are you to say what is or isn't welcome here? Yer moniker is stoopid BTW.
https://www.youtube.com/watch?v=_nVk25ZvTkU
Are there Cypriot Europhiles now? If this doesn't crush the
Euro, then nothing will.
By definition, Europhiles love money and hate tradition, Easter.
So....now the initial proposal of a 10% haircut is proving to be pretty reasonable? (Of course, the bank run was inevitable; it was simply a case of who got to withdraw at the head of the line.)
Will anyone dare mention the apparent fact that the initial veto by the Cyriot parliament to reject the first deal, was the precipitating cause here?
What has happened that leads you to believe the first deal was hard and fast?
We still don't know what deposits left and when. The IMF contribution was and remains totally unknown.
The drip drip of incomplete bad news doesn't reflect a process that ever was sincere.
That was't a haircut, that was an attempt to LEGITIMIZE THEFT from every deposit, "insured" or not, in ANY bank.
So...after a big scare those folks with depositer's insurance will get all their funds back. Uninsured depositors are taking haircuts...isn't this how the world use to work before everyone was bailed out?
Big (i.e. undepositers) had the chance to pull their money way before it went to hell. They failed to do their homework or get under the limits and now they are paying for it. Why should I feel bad for big uninsured depositors?
THERE IS NO (solvent) DEPOSIT INSURANCE. "Insured" depositors' funds are frozen, and the banks must acually remain open (and not need any more "gifts" from the ECB") for 333 consecutive business days for depositors to even have a chance to fully withdraw their "insured" deposits.
The message is..,spend that fiat in your accounts or we will spend it for you....
See your problem, ZH, zionists?
You fight among yourselves, and seek to demoralise Christians.
Happy Easter :-)
I don't see any Christians - just another loathesome anti-semite.
You see your own self-serving propaganda, pet.
7 out of 8 jewish gangsta banksta mafia oligarchs from Russia agree with you. Nazionist. That would be the zionists who raped and robbed Russia, and flee to Israel when their hateful crimes are discovered. That would be the hateful zionists who commit more spying in the U.S. than any other nation. That would be the hateful zionists who wage endless war using everyone else's money and blood, and give themselves dual passports because kind Christians fall for the lies of zionists.
Had to spend Good Friday with relatives and got good and drunk didja? Well good on ya. I've done the same thing in the past but the relatives that drove me to drink are dead now. Enjoy the rest of the holiday weekend NE.
Zionists are gangsta bankstas. Get yourself an education, pet.
Get to the nearest AA meeting snookums.
"To" Russia with love.
I forsee people going apeshit. I have my 6 pack of IBC Black Cherry and honey roasted peanuts! OH BOY!! I can't wait for this show!
IBC cream soda is a hoot, too!
Indeed. but they were all out. Must have been a run on that flavor :) and/or other people had the same idea as me :)
Those are all really good but their root beer is outstanding.
the reason the riots haven't start as yet is because most in cypress have no money in the banks as they have nothing... the business owners who have been wiped out will now shutter their small businesses and then people will feel the effects and then the riots will start.... say about 2 weeks or so from today... also when the younger beneration becomes aware that their inheritance is gone then they will join the riots...
sorry to say but i have to disagree some. like here in the states, you are garanteed up to a certain amount. dont want it to disappear, dont have more than the covered amount in an account. if you put 500k in a bank and they go under, you will get 250k unless something is worked out. its your fault for not paying attention to the law and depositing more than garanteed.
if the depositors get their 100k back and loose everything else, tough shit for them. maybe they should have paid better attention to their financial life and the rules of the game. if they didnt know the system was fucked up, why should the ones that did pay for their mistakes?
Only if the same rules apply to the tribe of thieves: Corzine et al and their precious pets in politics.
cant really disagree with that except two wrongs dont make a right. the politically connected have always made out. thats not a new thing. but because a politically connected theif made out, doesnt justify everyone breaking the law. i understand your point, but you can only control what effects you. so cover your ass or get screwed. if you dont watch out for yourself, dont expect me to cover you lack of atention. the gaurantee was for 100k. above that, all bets are off.
now, if they go after under 100k, all bets are off. above 100k and you should have payed better attention.
Fair point. But my point is this: zionists are ruining the Western world with their shenanigans, wrecking our laws in the USA as one example.
We have a duty of care as the biggest power, and we will be ruined if we allow zionism to rule. The zionist gangsta bankstas are bankrupt, and they should fail by law, rather than be propped up with tax money or find some other way to evade tax and law.
Zionism is a new thing and un-American in my opinion.
Merrily whistling past the graveyard... "IF the depositors get their 100k back"
Krispy Kreme, reincarnated. Low fat donuts<
Losses at the Cypriot banks must be much larger than initially stated.
Second bailout anyone?
No more bailouts. The reset has begun.
But I thought everyone was supposed to get three bailouts before they were forced to leave the euro!
Zionists ruined Cyprus, and Mother Russia and the rest of the world. They use and abuse everyone, and hate Christians in particular.
Follow the money: GS, JPM, and the rest of the Wall St and City of London ...all zionists, all hateful.
You stupid puke waste of a pigskin dogbreath. F-off a die. Why do you waste our time with your vilefilth? Because you have nothing else to do, living a life of empy decriptitude in your parents basement, blaming it all on people with better minds that you cannot fathom. You're like a retarded child who cannot understand that all the children are laughing at him, not with him. Get a life, loser.
Crikey. That's a lot of hate filled spew from a nazionist. Calm down, dear.
13 racist Zionists read your message newengland, and marked it down.
NewEngland is attacking an ideology, you are attacking her? as an individual. That makes you the real loser in my view.
Bioshock Infinite - Jewish immigration porn and anti-Christians hate message all the way through.
There is one word for this: "CRIME". We can condescend and say the sheeple deserved it but did they really. They elected a guy who said he would not let it happen on his watch. You may say that they shouldn't have believed him but why not?
The people do not deserve this. The misery this will cause for the business people, retirees, children, families. The benefit is to no one, not even the elites who sought to punish Russia but only poked the BEAR with a cattle prod -- it is now awake.
Do not look down on these people. They deserve our pity because they have been betrayed. They also deserve justice and that will come. "You reap what you sow" and the EU has sown the whirlwind.
Pray for the cypriots - pray for their wisdom and that they have food and medicine.
As for the rest of us, strap on your spine, shoot steroids in your balls, muster up your courage -- because they will come for us. Be prepared.
True.
It's not a crime. It's perfectly legal.
Shit guys, we been pissin, moanin and scratching our nuts for years about this same shit over and over again... Just different days, different folk, different places
The whole fuckin thing is rotten to the core.
Allons enfants de la patrie, le jour de gloire est arrivé! Contre nous de la tyrannie...
Oui!
What the fuck are the Cypriots waiting for to leave the Eurozone? Oh...because most voters have their deposits below the EUR100M mark they think their asses are safe....they fucking deserve everything coming their way!
The zionists control Europe, make Europe into debt slaves. it is not the fault of the ordinary person who never voted for the EUSSR, the zionist dream. It is the fault of the makers of the euro: the international financiers, the zionists.
I feel sick for the people of Cyprus. Yep, this is how European wars start.
I guess the bottom line is that the people of Cyprus, whatever we want to say, were just like anyone else on the planet who wanted to be able to put their desposits somehwere SAFE while maybe making a little interest. They are the first ones to be utterly robbed of their holdings by a system that has now absolutely destroyed confidence in any bank anywhere.
It's the "while maybe making a little interest" which is the problem.
You can't have safe while making interest.
You get safe; 100% reserve banking, your money is there in the vault but you have to pay a fee for them to hold it.
Or
You get loaned out, someone else has your money and is paying you interest. They may fail and lose your money. Guess what, that's exactly what's happened in Cyprus.
That's it.
Fractional reserve banks are fraudulent, they pretend your money is sitting in a vault all the while loaning it out to any muppet who can sign a mortgage agreement.
They shouldn't be shocked as that is what they were gonna do all along, but they needed to give time for the depositors with juice to move their money out.
It is mindboggling that the people of Cypress are just shrugging their shoulders. "What can we do". No riots, protests, hangings, burnt banks. This is OK for the citizens? Bankers and Hedge funds blow up, lose it all and the good person that worked and saved for 30+ years is wiped out. And the European bankers are dining on caviar.
They are doing nothing about this? What has happened to society. How far down the cess pool have we traveled. They just take it?
The Morlocks and the Eloi, bro.
They're waiting until they get their cash out. The small depositor, that is. Don't mistake quiet for peace.
The people of Cyprus are common folk who merely want to love family and friends and trust those they elect to be likewise. The people of Cyprus were betrayed. No different than the rest of the world, under the jackboot of central bank zionists.
There won't be any riots. There's no point to it. But any young person who isn't packing up and leaving can die a thousand deaths instead of one.
Cyprus is returning to their pre-WWII economic model. Farming, fishing, tourism and anal sex on demand.
All ok with zionists, eh?
I think it is wrong to ruin a nation for the ego of zionists and those they threaten, like Russia.
The zionist make money no matter what, promote its homosexual, kill the family, vaunt Holly Wood thing is well known.
Zionism is a freak turn of the old gangsta banksta famiies, Vatican, hofjuden...the old feudalists with a new brand name, and their endless profiteering wars...at the expense of other people's blood and money.
Can I get more down votes by mentioning hofjuden?
Yes, Bicycle Repairman, I think that's right. Well, I don't know re the anal sex part. But anyway, they have only been in the EU for five years. For thousands of years, they, like the Greeks elswhere nearby, have been STUNNINGLY poor. I mean, unimaginably poor. Read Patrick Fermor's book re the Mani region of Greece. People have lived on these bare rocks for thousands of years, surviving on fish and olives and a little bit of grain and maybe someone has a goat. And prickly pears! Dumpster diving the garbage Russian tourists leave behind, would garner 1000X greater material wealth than a Cypriot farm.
What would it be like to go from that sort of poverty, to near-Western-wealth, in five years? And then lose it? It must seem kind of unreal. Whom would you riot against? The bank tellers? What would you get? A bottle of olive oil and a bag of grain is going to start looking pretty good.
What I find distressing is how many articles I've read in which some Cypriot citizen says, "The EU has to save us!" Well, the EU has screwed them over, and is not going to rescue them.
There's nothing wrong with being a beautiful little impoverished nation, with a real culture and history, and citizens who live elsewhere for a while and send money home and then retire there. If it weren't for the crazy blood feuds and the hideous treatment of women (no celebration when a baby girl was born; no mourning when a woman died; no work options other than lugging water and sticks and cooking; adultresses brutally murdered), Mani traditional culture would have had real virtues. If Cyprus can return to a good version of its traditional culture, that might be the best outcome; what else is there - forever paying off banker debts, in order to entice back the EU "cargo drops"? Trying to create an industrial base????
I'm NOT advocating passivity in the face of injustice. But I simply don't think that much of what they got from the EU was all that great. And it certainly wasn't real.
We all know it's happening, but it always sinks in better to actually see a screenshot of how bad they are fucking some people.
https://bitcointalk.org/index.php?topic=160292.0
http://www.youtube.com/watch?v=0mhP4zfa3qc
Zionism is a new thing, bad for jews and everyone else.
See the central bank cabal, the EUSSR, the Fed, and endless war as proof.
Hmm. I was rambling through my numismatic literature the other day and decided to read up on this guy.
KM# 114.1 0.900 fine.
Funny how this all works isn't it?
http://en.wikipedia.org/wiki/Ze%27ev_Jabotinsky
The proof comes from their own arrogant lying mouths.
Sounds like the payout in the Aabasquid deal
The depositors will get sent bills for failing to maintain a balance and then for the closing of their accounts - yes, it can get that bad...
I'm just waiting on a margin call. I guess a new tax on losses would do it....
Don't fight the Fed on its own turf. Never buy gold on margin is my advice. Good luck.
You Will No Longer Believe In Bank Insurance After Reading About The: G20 meeting held in Basel Switzerland on December 10 2012.
Read This: http://maxkeiser.com/2013/03/29/it-can-happen-here-the-confiscation-scheme-planned-for-us-and-uk-depositors/
As a consequence: Canada & New Zealand has already written these intentions into their 2013 budgets, Germany wants 25% of Italian deposits, US & UK are drawing up plans for confiscation, Santander have sent letters informing their clients that their SME accounts are no longer insured "client money rules on money do not apply to a Banking Consolidation Directive (BCD) in relation to deposits within the meaning of the BCD held by that institution. As a result, the money will not be held within the client money rules of the FSA.’" = NO INSURANCE.
Germany only deals with german euros, so effectively, the southern euro will be put into effect shortly, creating a higher value Northern europe euro..This weekend (bank holiday weekend) “All computer & program updates are cancelled this weekend as they are semi-anticipating mayhem next week in the markets and cannot risk having any maintenance work running over.”
Read This:http://hat4uk.wordpress.com/tag/all-computer-updates-in-banks-cancelled/
Six months from now, we will find out that some of the big depositors, druglords and Russian oligarchs, managed to get all their money out miraculously just before the bank holiday. As fot the Cypriots without insider information, their life savings are decimated, their plans for retirement gone and the Cyprus unemployment set to skyrocket. That 10 billion in bailout funds is to pay off the bondholders. The billions will electronically transfer to Cyprus for a few milliseconds, then get transferred back to the bondholders' banks, such as DB, JPMorganChase or Goldman Sachs. A global shell game where the ball is long gone by the time the shells come to a stop. The whole world is broke and Cypus is just another victim of the game of musical chairs that is going on. Greece was left standing, every public asset of value in Greece is being sold off cheap. Cyprus is a side show, a warmup. Spain and Portugal are next.
Hey Shitballs!
Did you know that eastern, turkish ethnic Cyprus' economy with all its dark muslim, non-usary economy, even while under economic embargo, is doing just dandy? They feel sorry for their ethnic greek neighbors, what does this say about the superiority of western democracy and our "freedoms"? Cyprus is a devided island, a perfect study in comparitive economics/history/politics. We should take time off of smashing up civilized muslim countries, and killing, take a quick review... stop with the mind fucking insanity. Can't we all just get along?
The people who conspire to flood us with all those unwelcome foreigners like to tell us how unique they are. So I blame the uniques.
Don't all depositors have their first 100,000 guaranteed so its not possible for anyone to go to zero?
Does this mean if I am a depositor at an EU bank and I let my account go over to say 101,000 then my entire balance becomes uninsured?
The guarantees are made by insolvent fraudsters. You trust your government?
You have an insurance policy. You don't have money in the bank. Maybe you'll get some money in 6 months, a year, maybe more.
Even in FDIC takeover banks in the US, who payoff according the their gaurantees, it takes a while to get you the money.
apparently...the first 100,000 is "protected"
Bail-IN Technocrats VS Bail Out Oligarchs, advocating ongoing socialised public debt in QE-infinity, fightclub in first world is ON.
Are they competitors or accomplices in economic mayhem?