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"I Went To Sleep Friday A Rich Man, I Woke Up Poor"

Tyler Durden's picture


Another non-Russian, non-oligarch, non-billionaire, non-tax-evader speaks up...


So much has been written of the Cypriot bail-ins and massive haircuts for the uninsured depositors - assumed to be nasty oligarchic Russian money-launderers - that, it appears, the reality for people living in Cyprus has been forgotten. We noted earlier the small business issues, but as the Sydney Morning Herald reports, real lives have been destroyed. 65-year-old John Demitriou retired (back) to the picturesque fishing village of Liopetri, Cyprus, with his life-savings of around $1 million living off the interest it paid from Laiki 'Popular' Bank and spending it on his grandchildren. He was in no hurry to invest it; to spend it on big purchases.

Then, after being told just last week by his bank manager, "there's no problem, nothing to worry about," he so painfully notes, "I went to bed Friday as a rich man. I woke up a poor man," as Laiki's depositors over EUR100,000 were devastated thanks to the bail-in. The Australian Department of Foreign Affairs notes, "there is no need for special measures," to help John (or the other 5000 Cypriot-Australians on the island) as he exclaims, "it's not Russian money; it's not black money; it's my money."


Via Sydney Morning Herald,

''Very bad, very, very bad,'' says 65-year-old John Demetriou, rubbing tears from his lined face with thick fingers. ''I lost all my money.''


John now lives in the picturesque fishing village of Liopetri on Cyprus' south coast. But for 35 years he lived at Bondi Junction and worked days, nights and weekends in Sydney markets selling jewellery and imitation jewellery.


He had left Cyprus in the early 1970s at the height of its war with Turkey, taking his wife and young children to safety in Australia. He built a life from nothing and, gradually, a substantial nest egg. He retired to Cyprus in 2007 with about $1 million, his life savings.


He planned to spend it on his grandchildren - some of whom live in Cyprus - putting them through university and setting them up. There would be medical bills; he has a heart condition. The interest was paying for a comfortable retirement, and trips back to Australia. He also toyed with the idea of buying a boat.


He wanted to leave any big purchases a few years, to be sure this was where he would spend his retirement. There was no hurry. But now it is all gone.


''If I made the decision to stay, I was going to build a house,'' John says. ''Unfortunately I didn't make the decision yet.


''I went to sleep Friday as a rich man. I woke up a poor man.''


His money was all in the Laiki ''Popular'' Bank which was the main casualty of Cyprus' bailout package set by the European Union. Laiki is to be dismantled. Savings of less than €100,000 are to move to the Bank of Cyprus. Anything more than that will almost certainly be wiped out as the bank is wound down, its remaining assets taken by the bank's creditors.


Last week he heard a rumour that the bank was in trouble and went into Aiya Napa to ask his bank manager - a friend - if he should move his life savings.


''There's no problem, nothing to worry about,'' he was told.


Not so. ''I go to bed and I can't sleep. I walk around, I have a coffee. I am thinking about my family.''


John's tears flow. As he chokes up, his son George, who moved to Cyprus in 1990, explains.


''The whole family, we used to work at the markets. I would work at the markets on the weekend to help my parents while my mates were off having fun. Honest work in honest jobs. Now all that hard work is paying the debts of other people and the government. It's disgusting, to be honest.''


George says he can start again - if things get worse he and his family might move back to Australia.


''But not my dad. He can't go back to Australia. He is not allowed to fly because of his heart, and anyway where would he live? He has no house. He will have €100,000 left to live off. Soon he's not going to have a cent to his name.''


John has a thin hope. His money was sitting in the bank in Australian dollars instead of euros, so he wonders if it would be exempt from the bank's collapse. But the bank's doors are closed, so he doesn't even know to whom he should put that argument.


''For the moment I am 'sitting on charcoal', as they say,'' waiting to see if he gets burnt.


''It's not Russian money, it's not black money. It's my money.''


There are almost 5000 Cypriot-Australians on the island. Most are - or were - self-sufficient veterans of the 1950s engineering boom or the 1974 war who came back to retire or to be with family (John is looking after his 90-year-old mother).


This week Britain stopped paying pensions into Cypriot accounts, advising expatriates to open a British bank account instead.


Australia's high commission in Nicosia has already fielded inquiries from dual nationals seeking advice on their pensions. They were told to set up different payment arrangements, a spokeswoman for the Department of Foreign Affairs and Trade said.


''We expect the main impact will be for Australians who have invested large sums in Laiki Bank or the Bank of Cyprus,'' she said. ''There is no need for special measures at this stage.''


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Fri, 03/29/2013 - 16:07 | 3389293 McMolotov
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Fri, 03/29/2013 - 16:09 | 3389304 Rick Blaine
Rick Blaine's picture

Yeah...and what really sucks is that things probably have to get worse (for everyone, everywhere pretty much) before they can get better in any remotely sustainable fashion.

Fri, 03/29/2013 - 16:18 | 3389342 WayBehind
WayBehind's picture

I usually joke around but this is a sad story!

Fri, 03/29/2013 - 16:33 | 3389396 Spider
Spider's picture

Bastards - I bet you the bankers and the rich oligarchs found ways to get their money out.

If you are Greek, Slovenian, Spanish, Portugeese, or Italian and still keep more than 100k in bank accounts in those countries banks you deserve what is coming to you.  Time to buy gold and be able to sleep at night...

Fri, 03/29/2013 - 16:36 | 3389409 Beam Me Up Scotty
Beam Me Up Scotty's picture

You could get your face ripped off even if you keep less than $100k in the bank.

Fri, 03/29/2013 - 17:01 | 3389496 CH1
CH1's picture

Let's state it clearly:

Keeping the rules gets you screwed.

Fri, 03/29/2013 - 17:16 | 3389536 Boris Alatovkrap
Boris Alatovkrap's picture

Boris is go to bed poor man. Wake up middle of night and is rich. But realize is actual dreaming, so when wake up in morning, still is poor man. Rubbing eyes and wipe away is tears.

Fri, 03/29/2013 - 17:52 | 3389626 Xibalba
Xibalba's picture

"Do your fair share" - Per Obama

Fri, 03/29/2013 - 20:52 | 3390121 Big Slick
Big Slick's picture

John, that's why Jamie Dimon is now EVEN MORE richer than you.

!! FLIPNESS ASIDE, people need to look at this link and think about how the question of the UBS analyst relates to the Cyprus crisis.  This is human slaughter - and human greed - on par with the worst in history.

Sat, 03/30/2013 - 01:05 | 3390813 Harlequin001
Harlequin001's picture

'He was in no hurry to invest it; to spend it on big purchases.'

But that's the problem isn't it? He did invest it. He invested it in Laiki bank for which he received interest as full compensation for the risk of total loss.

When everyone else wakes up to that simple reality and then begins to question the validity of 'insured' deposits from a government that has run out of money they will all move to something more stable, more real, like gold, and of the physical variety...

Either that or they will all quite rightly lose their money in a bankruptcy.

Sat, 03/30/2013 - 02:07 | 3390877 Theosebes Goodfellow
Theosebes Goodfellow's picture

The really disgusting part of all of this is that most Americans don't think this is going to happen to them. Somewhere in the back of my mind is the Bluto Blutarski bit where he tells Flounder that he screwed up by trusting his frat brothers, (about something of value, his brother's car). I can see the Cypriot bank manager doing the same thing right about now.

"You screwed up, you trusted me." Serve you right. I hope the fact that his deposits are in Oz bucks saves him, but I would tend to think that sort of little technicality won't stand in the way of their confiscatory thievery.

Sat, 03/30/2013 - 02:34 | 3390889 Scarlett
Scarlett's picture

DO NOT TRUST ANY BANK; take out your money now.  There is zero excuse for having more than one month's bills at ANY bank.

Sat, 03/30/2013 - 04:32 | 3390926 TwoShortPlanks
TwoShortPlanks's picture

For blame, look no further than the UN's Agenda21 program.

This has been another announcement from the team at Agenda21: Shaking trees and picking up the fruit is how we do things.

Sat, 03/30/2013 - 07:48 | 3391063 GoldForCash
GoldForCash's picture

Agenda 21 destroyed my company and my life.

Sat, 03/30/2013 - 11:13 | 3391371 myptofvu
myptofvu's picture

GoldFor...could you expound on that? I have learned a little bit about agenda 21 but would like to know more. If its too painful to talk about I will understand.

Sat, 03/30/2013 - 09:09 | 3391156 Seer
Seer's picture

Um, I think that he thought he was in "savings."

Let's make this distinction perfectly clear, and this is WHY TPTB are able to pull this scam.  TPTB allowed regular deposit banks to double (down?) and do "investment banking."  I thought that everyone knew that "investing" came with risks.  "Savings," however, wasn't ever supposed to be "risky" (though, that, clearly, was always a bit of a lie).

Fri, 03/29/2013 - 17:55 | 3389631 NoTTD
NoTTD's picture

Not to worry.  Is only dream.

Fri, 03/29/2013 - 22:22 | 3390507 mkkby
mkkby's picture

I feel terrible for this poor old guy.  But nobody screwed him.  Nobody.  He kept his money in a bank way over the deposit guarantee. 

Hardly a month goes by where a bank doesn't go under and the guarantee is tested.  How could he not know the risk?  Yes, the EU bureaucrats said a lot of stupid things the past 2 weeks, but in the end the deposit guarantee was honored.  You didn't have to be "awake" or understand fractional reserves.  BANKS FAIL ALL THE TIME, everywhere.

Fri, 03/29/2013 - 23:54 | 3390705 merizobeach
merizobeach's picture

He thought his banker was his friend, and he trusted the words of his banker, even after rational warnings to the contrary.  Game, set, match: Lose.

Your assets can be touched with your hands; your gambles can be tabulated in bank books, stock portfolios, and on web sites.  Distinctions, bitchez.

Unfortunately for me, my retired parents--despite history, current events, and my admonitions--still have their archaic faith in the system.  They feign concern and promptly forget.  And all that, unbelievably, despite their ongoing misadventures in REITs and with ever-encroaching tax laws.  WTF?!

Sat, 03/30/2013 - 06:45 | 3391005 espirit
espirit's picture

As the saying goes...

If you have a friend and you love that friend, and that friend loves you, you better fuck that friend before he fucks you.

Sat, 03/30/2013 - 18:51 | 3392414 Goner
Goner's picture

John, why dont you, your son(s) and a few friends go talk to your bank friend again tonight. Bring some rope


Sat, 03/30/2013 - 09:10 | 3391158 Seer
Seer's picture

And it's the American Dream!  Supersize my lifestyle for FREE!  It's my fucking right as an American! (er, a, Cypriot)

Fri, 03/29/2013 - 17:57 | 3389637 Rogue Trooper
Rogue Trooper's picture

Boris still have Makarov and pre-Yeltsen AK in deep-freeze-wonderous-chicom appliance next to Vodka????

If so, have job from comrade, bidding competitive but cannot trust albanians and chenchens have issues from last time like rabid dog no follow orders like comrade from old - learnings!

it is time comrade... it is time?

/Nicolai (former KGB, retired '91, Instanbul field office now business man)




Fri, 03/29/2013 - 18:34 | 3389738 eatthebanksters
eatthebanksters's picture

How is this different from Barney Frank and the US Government and the NAR telling everyone back in 2007 that the housing market was just fine and there was no problem in the loan market?  Fuck these guys. They ruin lives with the excuse that they're doing it to save the masses...fuck it...the shit needs to hit the fan.  All these fucking liars in government that have been wasting tax dollars to buy votes so they can take care of themselves and their corrupt buddies and have run the world economy into the ground, along with all the corrupt self dealing liars in the banking world need to be called out and dealt with, swiftly and harshly.  This shit just makes me sick.   Just to give you an idea of how fucked up it is in this country, I lost my home in foreclosure after my business of then 28 years dried up.  Two years after my house was foreclosed upon I get a bill from the department of forestry in my state saying I owe for a retroactive fee for fire protection.  I owned the home for 4 months of the 12 month period the bill covered.  I called the dept of forestry and told them the situation and they told me that the law was written so that there is no proration, that the owner at the time of the bill is responsible for full payment.  WOW!  So because my state is broke (you can guess which state), they are now trying to create revenue from past services and they want full payment from me, and I'm sure any other owner during that 12 month period. What a fucking scam...if I did this I would go to jail. Time to tear this shit down!!!

Fri, 03/29/2013 - 19:01 | 3389831 Skateboarder
Skateboarder's picture

Logged in to vote you up. That shit is fucked up beyond belief man, I'm sorry for your loss.


Fri, 03/29/2013 - 19:20 | 3389864 eatthebanksters
eatthebanksters's picture

Thank you, and yes Cali.  I don't mind paying my share and I certainly won't bitch when I fuck up, but when someone out and out bald face lies to the world and millions of people are financially ruined, I get pissed off.  When government makes decisions that are slimy - meaning they fail the integrity test: is this fair and do people understand it - to take more of our money, then they are no different than the rips offs they put in jail.  Here's my can the government expect people to continually obey the law when they and their friends so blatantly disobey it?  I hope the time is soon that people stand up and say enough...but with Bernanke pumping the stock market with QE they (TPTB) win the game, they make sure there always is a majotiy of people who have more to lose, even if they have to manipulate th stock market to make that happen.  One more thing I have ot laugh about, when someone on Wall Street is found to be guilty of manipulation or insider trading (not very often), they go to jail...when Bernanke does it its for the good of the country.  Go figure...

Fri, 03/29/2013 - 20:12 | 3389973 Skateboarder
Skateboarder's picture

The illusion must be maintained at all costs, until it cannot be maintained. There is no legitimate law, never has been in the history of the species. Only natural law exists, and if you violate it, we will know. You can make theft look like restructuring, but you can't hide the fact that it's theft.

People simply do not understand the difference between money and wealth. They will not give a fuck until they money they thought was wealth is rendered useless. You cannot expect sound judgment from a population that doesn't (and perhaps never will) understand the parameters of the ecosystem.

When the boot stomps on your face, it is too late.

Fri, 03/29/2013 - 20:55 | 3390147 Big Slick
Big Slick's picture

The central bankers will keep doing this to people until you start hanging them from trees.  It would stop pretty quick after that.

Fri, 03/29/2013 - 20:11 | 3389979 SilverRhino
SilverRhino's picture

Sounds like it is time to start ahooting.   Fuck the state.  

Fri, 03/29/2013 - 20:56 | 3390156 unununium
unununium's picture

So you have tried setting up a meeting with your congressperson, and failed?

And you have tried starting a petition to recall your congressperson?

Just sayin' ... since those options are, you know, legal.  And non-violent.  And part of the system that people fought and died to create.


Fri, 03/29/2013 - 22:17 | 3390485 tarsubil
tarsubil's picture

Talk to your Congressman? Holy shit, are you serious? You think a fucking Congressmen gives two shits about your opinion? I know of a relatively new Congressmen who was the 'real deal' common man patriot. Two days after going to DC he stopped caring about the little people. Wake the fuck up.

Sat, 03/30/2013 - 00:09 | 3390731 BoNeSxxx
BoNeSxxx's picture

I remember Jesse Ventura discussing his surprise victory as Governor of MN... say what you want about him but this was before all his conspiracy shows and crap...

He said that almost immediately after he shocked the world and actually won that election that he was ushered into a van by a bunch of guys in suits - they never identified themselves.  In no uncertain terms, he was told who his bosses were.

I don't know how much, if any of it, he stands behind today but I don't doubt that it happened for a second.

Sat, 03/30/2013 - 00:19 | 3390751 Panafrican Funk...
Panafrican Funktron Robot's picture

"So you have tried setting up a meeting with your congressperson, and failed?

And you have tried starting a petition to recall your congressperson?"

You must not have read his post.  He pretty obviously has no money.  What member of congress is going to meet with anyone that didn't contribute at least $100K to his campaign?  Recall petition?  Do you have any fucking idea how much that costs to accomplish?

People fought and died to build an maintain an empire.  Empires are built and maintained in order to extract wealth.  Ergo, if you want to get shit done in the political system of this country, you have to have skin in the game.  Specifically, you have to give them a portion of your wealth (above and beyond what you involuntarily give through our tribute system, which we now call "taxes").  Your influence is directly tied to the value of what you give.  That can be in the form of:

1.  Straight up money

2.  Favors of value

3.  Blackmail

Considering that this individual can't affect 1 or 2 at a significant enough value to pull strings, 3 is his only remaining option.  Considering that blackmail can include "do this shit for me and I won't shoot you in the fucking face" is a form of blackmail, I would suggest that this is morally/ethically consistent with our present political/economic system.  While I share your distaste for violence and would not recommend this course of action, you can hopefully at least see just how fucking stupid you sound in advocating for "fighting within the construct", when the construct is specifically set up to ensure that people without means have absolutely no power whatsoever. 

Sat, 03/30/2013 - 09:04 | 3391151 trader1
trader1's picture

sounds like the only real non-violent options left are:

1.  leave the system; go off grid

2.  stay within the system and practice civil disobedience (hoping that enough people also see "the injustice" that you see)


Sat, 03/30/2013 - 13:37 | 3391719 tarsubil
tarsubil's picture

Blackmail is a legit option. I even have a lead for you. It is common knowledge among Pentagon Police that Congressmen service homeless men in the woods north of Crystal City. If you really want to blackmail someone with actual power, go there.

Sat, 03/30/2013 - 03:08 | 3390905 eatthebanksters
eatthebanksters's picture

I called my congressman and both my senators...I got form letters and iip service.  Why would they care about me...I'm just one of millions with no money now...they're hanging out with the cronies that pay their bills.  Just so you know, I have nothing against wealthy people, honest bankers and politicians...but there are some lyng sacks of shit in all these groups that don't deserve to die quickly and painlessly.  The corrupt bastards and bitches need to understand the pain they have inflictedon so many and need to be made an example of so others don't follow down thier path.  

Fri, 03/29/2013 - 20:52 | 3390131 Rogue Trooper
Rogue Trooper's picture

Just logged in and this...

For what it is worth brother, I understand what you feel and I am saddened by what those, those statist psycopaths have done to you and all the rest of us.  I understand your loss and I can feel your understandable rage. When the time comes I will not sit back and let them take what is left. I'm all in for freedom and I will not be a fucking FEMA experiment for some deranged "Dr No" with a CDC uniform doin' shit for the greater good.

Take stock and some small comfort from many of US on this blog. We will all face this alone, in our own way, but at least there are others that see what is coming.

Godspeed all of you... when the time comes I hope some can be counted on.

Lock and fucking load and stay vigilant (Someone remember the pliers cause if we get get lucky and corner a 'banker' I suggest taking it real slow, real fuckin slow.  In fact why not hand carve 'eatthebanksters' on his fuckin forehead would be ironic and all would get the 'meme'.

Fri, 03/29/2013 - 21:02 | 3390192 Chuck Walla
Chuck Walla's picture


"The problems we face today are there because the people who work for a living are now outnumbered by those who vote for a living."






Sat, 03/30/2013 - 08:29 | 3391109 Dark Space
Dark Space's picture

Burn it to the ground! Burn it all, and then let's put some heads on spikes. The revolution has to start somewhere.

Sat, 03/30/2013 - 08:59 | 3391146 trader1
trader1's picture

eatthebanksters, thanks for posting.  i agree with your assessment that it's no different fundamentally - just a different flavor.

besides tearing shit down, what are the possible solutions to restore trust and faith in an economic system without having to hurt/kill any people in the process?


Sat, 03/30/2013 - 13:39 | 3391689 eatthebanksters
eatthebanksters's picture

It's pretty easy...the government (Fed, state and local) has been using this trick to raise money.  First you pass a retroactive law called the the Golden Rule law and then you take any suspected corrupt banker or politician and and put him or her in front of a jury of their peers.  The trial is about a couple of things:  honesty and fairness (integrity).  The prosecutor gets to question the defandent's any way they wish and the jury gets to hear the answers. The jury gets to conclude if the defendent's were acting in the best interests of their constituents (remember, making the right choice is often the hardest choice and doesn't always benefit us personally). If the defendent is found to be reasonably acting in the best interests of those around them, they are free to go.  If they are found to be acting selfishlly and for personal gain and being dishonest about it, then the are given a bag of clothing, a bag of seed, a young pig and a chicken.  Then they are put on an island with every other violent criminal in our system that costs us a fortune to feed and take care of...we patrol the perimeter of the island (would save taxpayers a buttload of money), what happens on the island is between them and God. We wash our hands and move forward. This is a good way to deter crime as well.  Diversity in society is good. People who lack morals, vaues and ehtics is bad. Time to clean up the cesspool.  Short of this solution, they ought to let the red states secede from the union..they don't seem to have the same problem as the blue states with the big cities and liberal group think and rampant crime and theu certinly would have no problem deporting someone who did not share their thoughts on taking care of their fellow citizens.  Leeches bring down the world...even when they are not politicians or the heads of big banks.  Remember, Barney Frank's platform was to help all those who could not afford to own houses to be able to afford a house...nice idea but flawed.  In the end his naive ideas (that were shared by many) destroyed the housing market in this country and created millions of financial casualties.  Being charitable is noble, being charitable with other peoples money to get elected is corrupt.

Sat, 03/30/2013 - 09:16 | 3391168 Seer
Seer's picture

Just imagine what wonders all of this has done on the poor natives in poor countries over the many decades.  MANY aren't around anymore to tell their stories: for them "collection" was never an option; no lingering pain though.

Nature is deceptive.  Humans are OF nature.

Oh!  And if you think tall the liars and cheats are ONLY in government.. (who the fuck do you think is pulling the political puppet strings?  Human nature...)

Fri, 03/29/2013 - 20:31 | 3390052 Boris Alatovkrap
Boris Alatovkrap's picture

Boris is have Bulgarian made Makarov. Can is field strip in 24.5s. Fully inebriate with 100 proof vodka, too! Very impressive, no?

Problem is cannot reassemble and lose hammer, sear, and extractor spring. Poor Boris!

Fri, 03/29/2013 - 21:52 | 3390416 Papasmurf
Papasmurf's picture

Boris still has his pride though.  That's something a banking oligark will never have.

Fri, 03/29/2013 - 18:33 | 3389744 Mentaliusanything
Mentaliusanything's picture

Glass - Steagall NOW.. Separate Investment banks (gambling Banks) from Savings banks (lower returns but fully covered)

How did it ever get to this stage. Perhaps Nations should have a National Bank which invests in Infrustructure of its own country paying savers a small dividend in return for the safety of National assets. These assets become like the family silver, a common wealth for both the nation and the savers that can be passed down over............ oh who am I kidding, the fuckers will privatize them and issue shares to the wealthly to pay off the debts of bad and ill thought out disfunctional Goverments

We Are All Screwd

Fri, 03/29/2013 - 19:25 | 3389876 Dugald
Dugald's picture


Ah, now I understand why Australians had their guns confiscated, and we all thought it was for our safety and wellbeing. Suckers we were...

To quote a local magazine...What have they got planned for us that would have us reaching for our guns if we  knew what it was...


Fri, 03/29/2013 - 21:22 | 3390284 Rogue Trooper
Rogue Trooper's picture

Yes, Howard (the so-called CONservative) a 30 year career politician ceased the chance to remove those dangerous semi-autos from law abiding hands in the wake of Port Arthur on 28 April 1996. Everyone is so much safer in corrupt/crime/cop land Australia. Thanks John CUNT Howard.

In fact they only got around 30% of the shit loads of FN FALs, AR15s and the rest.  The other 70%, one can only assume, have been loast in either boating accidents or just misplaced when your average aussie went walk-a-about.

Long PVC Drainage pipes... Insurance Bitchez.

Sat, 03/30/2013 - 03:17 | 3390909 PhilofOz
PhilofOz's picture

Have been getting adverts on South Australian radio stations of late from the SA police. They are offering as much as a $10,000 reward for information that leads to them confiscating illegal guns. (Conditions apply)

Sat, 03/30/2013 - 09:26 | 3391179 Seer
Seer's picture

Sigh... it's WAY TOO LATE NOW.  The cow is out of the barn.

I'd mentioned that people should understand that this very co-mingling has allowed this tragedy to be judged as an investment loss vs. theft.  The rich write the laws that allow them to stay that way: write laws that firewall them from the rest.

Even IF we were to fix this banking system we'd still have to deal with the debt- debts don't disappear without some sort of Debt Jubilee.  And in a way it's been this notion that someone will swoop in and take care of the bad debts that has ratcheted up the disaster.  So, even IF debt were then to be resolved, what then about standards of living?  There's STILL the issue of insufficient resources to maintain, let alone generate "growth."

No matter how you slice it up per-capita consumption IS going to drop.  This isn't so much by design from nefarious banksters/politicians, rather it's a design from Mother Nature.  Fight it all you want, but there's no winning This battle: Mother Nature ALWAYS bats last.

Fri, 03/29/2013 - 20:27 | 3390041 Offthebeach
Offthebeach's picture

There are no rules, save power by force, threat of force, takings and killing. Everything else is popular delusions.
It's harvest time, and the crop is 7 billion suckers.

Sat, 03/30/2013 - 09:27 | 3391182 Seer
Seer's picture

I'm not thinking that the majority of people, those who are subsistence folks, are suckers: they KNOW what the real world is like (and have minimal dependencies on the unsustainable world that we here are operating in).

Fri, 03/29/2013 - 17:04 | 3389507 Burnbright
Burnbright's picture

Anyone else notice that they use the term "invest" in the bank rather than deposit when they are talking about these people losing their money. Fucking sick bastards. People in Cyprus should be hanging mother fuckers right now.

Fri, 03/29/2013 - 17:19 | 3389545 Irelevant
Irelevant's picture

You lose all your savings and all you do is complain on TV? What is wrong with the world. Remember this - German pensioners took financial adviser hostage, court hears, Prosecutors say man was abducted and beaten by group of retirees over lost US investments -

Fri, 03/29/2013 - 17:34 | 3389576 Kaiser Sousa
Kaiser Sousa's picture

Bro I'm with.u...cypriots may not have understood prior to this shit that the bankers r sociopaths and own their politicians but now it should b perfectly what the fuck r they all crying about????why r they passively accepting the fact that their shit has been stolen and accepting the dictates of "u can only have this much on a daily basis"???? Fuck that shit...either resist the bankers in every form or fuck off and accept ur serfdom....NO SYMPATHY FOR OBEDIENT SLAVES OF THE DEBT BASED CURRECNY PARADIGM......

Fri, 03/29/2013 - 17:40 | 3389597 Irelevant
Irelevant's picture

Stockholm syndrome!

Fri, 03/29/2013 - 20:37 | 3390056 RobD
RobD's picture

I believe I read here somewhere that there are only 30 registered firearms in private hands in Cyprus. Any sheepdogs/wolfs that my be there have been defanged.

Sat, 03/30/2013 - 00:06 | 3390726 merizobeach
merizobeach's picture

What happened to that large bulldozer parked in front of one of the banks?

Fri, 03/29/2013 - 18:31 | 3389740 NoTTD
NoTTD's picture

Yes, I notice they started doing that...last week.

Sat, 03/30/2013 - 09:38 | 3391192 Seer
Seer's picture

This is because the world bankers effectively set it all up that they operated as "investment" banks*.  Again, under this setup deposits ARE subjected to "investment" risk.  What we THOUGHT/EXPECTED was twisted many years ago; and, just like this guy, many were able to bloat their "accounts" via high interest rates that were being produced from the "investment" side of the bank.  We ought to learn to be smarter.  Better yet, as TPTB will always bury us in mountains of legalese and trap us in it, would be to just NOT PLAY THEIR GAMES!

* The System required this in order to keep the Ponzi padded up.  It was either pull out any/all stops to keep the numbers going up OR let the cat out of the bag, which would effectively terminate their control, a suicidal move.  As the race required perpetually increasing one's speed it was only a matter of time before they couldn't keep up (and things just started to look like the painted pig that it ALWAYS was).

Fri, 03/29/2013 - 16:36 | 3389415 Troll Magnet
Troll Magnet's picture

Time to put a huge guillotine in front of every bank and gov't building in Cyprus.  Come on out, fuckers...

Fri, 03/29/2013 - 17:08 | 3389495 The Big Ching-aso
The Big Ching-aso's picture

This truly sucks.   That said, I think he needs to visit his 'friend at the bank' with maybe a couple of pals named Moose & Rocco and see if they can't help the friend find his checkbook.

Fri, 03/29/2013 - 17:16 | 3389535 boogerbently
boogerbently's picture

We need the home addresses of ALL members of congress and major executives of banks and brokerage firms.

Fri, 03/29/2013 - 17:27 | 3389566 Rottenclam
Rottenclam's picture

If he can pry Moose and Rocco off of the golf course.  They were on another job.

Fri, 03/29/2013 - 18:00 | 3389644 Flagit
Sat, 03/30/2013 - 09:39 | 3391193 Seer
Seer's picture

Hint: They use the BACK doors!

Sat, 03/30/2013 - 04:53 | 3390940 Seer
Seer's picture

"I bet you the bankers and the rich oligarchs found ways to get their money out."

That's what this "bail-in" was ALL about! (banksters getting money out of their customers!)

Fri, 03/29/2013 - 16:34 | 3389402 Beam Me Up Scotty
Beam Me Up Scotty's picture

Another example of someone who thought he was playing it safe by keeping his money in the bank.  Most people think that.  Who would ever think that by bringing your money to the bank that you are giving them a loan, and are taking on the risks of the bank?  No one gets told that they are an "investor" in the bank when they bring their money there.   Now the bank is a casino.....if the bank wins you get a paltry interest payment, and if they lose, you lose, and you might lose big.  This poor man lost 90% of his life savings.  These people are pathetic. 

Time to go long coffee cans and matresses.

Fri, 03/29/2013 - 17:14 | 3389532 therover
therover's picture

Actually a bank is WORSE than a casino. If you win at the casino, you get to take it home. 

Seems now a bank is the worst place to park your money. The risk/reward is a complete fuck show. Might as well go to the race track. At least there you can match your wits with the others and take their money ( kinda like what the wall street scumbags do to the retail investor). 



Fri, 03/29/2013 - 18:54 | 3389815 Shizzmoney
Shizzmoney's picture


Another example of someone who thought he was playing it safe by keeping his money in the bank.  Most people think that.

The USA deposit rate has been slowly rising (started around election time), because people thought this way too:  "Put my fiat in the bank, where it's safe. FDIC, right?"

What they don't know is at the TBTF banks, and probably the entire banking sector........their deposits are actually collateral for JPMorgan's derivitives trade which is bigger than the USA's GDP.

Gold and silver, bitchez


Sat, 03/30/2013 - 04:55 | 3390941 Seer
Seer's picture

"deposits are actually collateral for JPMorgan's derivitives trade"


Fri, 03/29/2013 - 16:36 | 3389411 ihedgemyhedges
ihedgemyhedges's picture

What's even sadder is that this is legalized bank robbery.  So if he just went to the bank, opened the vault and took HIS million, he would probably be shot on sight.  But the f'n bureacrats walk in and take HIS money with ARMED guards and flip him the finger on the way out.....

Fri, 03/29/2013 - 16:54 | 3389471 Beam Me Up Scotty
Beam Me Up Scotty's picture

Even worse, you don't even have to try and take out the whole million.  Try taking $10 Grand out.  Bankers get all goofy on you for that!! 

Sat, 03/30/2013 - 08:46 | 3391126 BoNeSxxx
BoNeSxxx's picture

Exactly,... which is why I wire mine to Apmex $9,000 at a time...

:-) Happy BoNeSxxx

Fri, 03/29/2013 - 17:10 | 3389520 s2man
s2man's picture

HIS money isn't, and wasn't, in the bank.  The bank gambled it on Greek bonds and lost it.  No theft, no confiscation, no raid.  Simple insolvent bank failure. 

The shocker is the EU didn't <gasp> bail out the Cyprus banks, which many of us have been calling for for a long time.

Fri, 03/29/2013 - 17:39 | 3389596 Strider52
Strider52's picture

I heard somewhere, prolly here, that Cyprus was forced to buy Greek Bonds, by the Eurocrats.  

Sat, 03/30/2013 - 05:02 | 3390945 Seer
Seer's picture

In reality, NO ONE can really be forced.  In order to continue to play the GAME Cyprus decided to seek higher returns.  Who knows whether this was all a set up.  One thing is certain: it IS all but a game, and there is ALWAYS going to be at least one loser; it's the requirement that there be a Bigger Sucker.

Engaging in balloon blowing, watching all the pretty balloons expand, comes with risk.  And failure to believe that the game HAS to end with the balloon exploding means that you're likely going to end up being that Bigger Sucker (and they say that if you look around and don't see that Bigger Sucker then chances are that it is You).

Fri, 03/29/2013 - 17:51 | 3389625 JimBowie1958
JimBowie1958's picture

HIS money isn't, and wasn't, in the bank.  The bank gambled it on Greek bonds and lost it.  No theft, no confiscation, no raid.  Simple insolvent bank failure. 


The banks gambled with HIS RETIREMENT MONEY and lost it when the collapse came.

That is fucking theft on any planet, dude.

Fri, 03/29/2013 - 18:43 | 3389769 AGoldhamster
AGoldhamster's picture

Exactly! Theft in open daylight. 1000% agree.


On the other hand - who promised you that you will get all of your money back? If you lend money - that's the way it could end. Therefore you get interest. Higher interest for higher risk, lower interest for lower risk.

Problem is - everybody was lulled into believing "money in your bank is like money in a safe". But events in Cyprus are a wakeup call. And one is well advised to take that as a reality and to act. As In May its a major full 84y (uranus) cycle when Indices peaked in 1929.

You all should know what happened after 1929. No excuses. From here on get used that events are gonna repeat. Greece and Cyprus were just the tips of the icebergs to come. You have around another 1.5 months left to act. Thereafter risk is gonna rise substantially.

Don't complain - ACT. NOW. As long as it is still possible to act.

Fri, 03/29/2013 - 18:57 | 3389822 auric1234
auric1234's picture

Except you aren't actually lending it because bank debt is the actual money by FIAT. Bank debt is money by FIAT just as much as printed paper.

If they reversed that, they should be time-consistent and tell everyone ahead. Which thankfully is what they're doing now, but they didn't for the poor folks in Cyprus.


Sat, 03/30/2013 - 05:49 | 3390967 Seer
Seer's picture

At the emotional level I tend to agree with the sense that this was "theft.  However, at the logical level the description of "The bank gambled it on Greek bonds and lost it" is, IMO, correct.

I base this on the fact that most banks today operate w/o any firewall such as was intended by Glass-Steagal (not sure how banks in countries outside of the US operate(d)).  Banks that could co-mingle depositors' money with the bank's investment activities, and which have blown out as a result of bad investments, have in fact technically LOST the money due to bad/unfortunate decision-making.  A lack of a firewall means that this risk WAS there and, while never allowed to be talked about or stated to be of low risk, always allowed for this escape clause to be pulled out (which is really the get-out-of-jail-card-free angle that the EU bureaucrats pulled via the "bail-in" crap).  "Theft" would be a matter of unlawfully moving funds from one side of the firewall to the next.

No, this was clearly more a matter of deception and mis-management than outright theft.  It LOOKS like theft because they really delayed the accounting of the loss: the accounts payable term to pay for the bad investments got extended.

Banks are not, and never have been, SAFE: that's why there came to be things such as "depositor insurance;" but, as people who have dealt with insurance companies know, there are NO guarantees that the payouts WILL occur: it does to the self-delusion angle of things- WE WANT TO BELIEVE THAT THERE ARE NO RISKS.  The risks were always there, waiting for the faulty growth premise to fail- the System never was, nor could it EVER, account for any protracted contraction/no-growth situations (a situation that mathematically is guaranteed).

If we are to truly learn a lesson here it should be that we need to question the very premise of growth.  This Cyprus fiasco is merely a byproduct.  Keep in mind the problematic premise that this poor guy had- he was expecting to see his money make money.  This is problematic in that the logic fails if EVERYONE were to be in this situation; and, with demographics being what they are -our populations all aging- we were destined to create an expanding number of people living off of money rather than producing; at some point this would FAIL! and that point was when the required returns (based on "growth) were no longer possible because growth couldn't be perpetually compounded.

The "theft" was in the application of "money."  The "money" was "misdirected" into big development activities (all those hard-working "producers" making buildings and whatnot).  All was fine as long as there were bigger suckers to by off those developments; but when the music stopped (when people had over-extended- the markets got flooded)- POOF!  The EU, and other collections of enablers to business bubbling, helped to extend the game.

My "adjustments" to the sucker's game came (so I think/hope) in time to avoid big pains.  I sold a house that I'd come to realize was more about being an investment than a "home."  I have since realized that most humans throughout history (and most today) don't really "retire," that they have to be, at the very least, marginally, producers.

One other lesson is that indecision can cost you.  A pile of "cash," just as any pile of "value" is a target of the less-than-honorable- piles tend to attract flies and rats...

Asking a banker, someone whose livelihood depends on you placing your money with them, whether you should keep your money with them and ever expecting to hear "no" is downright stupid/ignorant.

Yeah, all these fuckers were dishonest.  News Flash!  It's human nature!  But, dishonestly doesn't necessarily map to "theft," and in this case, as I've noted, the BAD investment practices were allowed, which means that this "loss" cannot really (logically) be said to be "theft."  BUYER BEWARE!

Sat, 03/30/2013 - 06:55 | 3390983 Ghordius
Ghordius's picture

+1 Seer - re: Glass-Steagall -  at the very moment it was repealed all the other countries of this world would not pass the chance of having their own financial dreadnoughts - and so we have now the 28 too big to be prosecuted megabanks

this just as a reminder that currently no megacorporation can exist without friendly legislation in the US

of course the same laws apply also to the smaller banks - which are by that even less solid than before

at the end, the very reason why there is supposed to be a difference between little deposits and big deposits: you can't and don't expect little depositors to make a detailed analysis of their bank's health - but you  can and do expect this from big depositors

note how in his last book Nassim Taleb described a meeting in Davos with an ex-SEC bureaucrat that wanted to sell him a financial construct that allowes to use under-100k deposit protection for larger deposits in banks that exceed the "usual" level of returns on deposit

caveat emptor

Sat, 03/30/2013 - 09:46 | 3391200 Seer
Seer's picture

I think that all was done out of the necessity to keep the underlying Ponzi going.  Actual growth pretty much ended a couple decades back (if not more).  We've been running growth on prisms and mirrors.  How many had stock during the Dot Com bubble?  I raise my hand.  Yeah, giddy about all the "money" I was "making!"  And then...  I don't think I really had that much invested, but I suffered from the same stupid mentality (back then).

Again, I very much doubt that most of TPTB aren't aware that the light will shine on it all eventually.  If it's all going to go down, to end, why not go out fucking?  They're walking dead and they know it.  The hope in all of this is to lengthen the time before discovery.

BIG = FAIL I think that people are starting to understand this (and that it doesn't only apply to govt).

Fri, 03/29/2013 - 16:19 | 3389343 SpiceMustFlow
SpiceMustFlow's picture

This really is heartbreaking to see what states and fascists will do to honest people. If this doesn't teach the proles a lesson then there should be no pity, after all, they will certainly receive no quarter...

Fri, 03/29/2013 - 16:23 | 3389371 King_of_simpletons
King_of_simpletons's picture

Be honest these days and you will be taken advantage of by every one and it starts at the top.

Fri, 03/29/2013 - 16:35 | 3389400 Irelevant
Irelevant's picture

I will take the down arrowing on this, FUCK HIM. This is what you get for being a complacent muppet. Fiat currency is not wealth, it has never been wealth and will never be wealth, if you cant get that thru a thik skull then fuck em.

Fri, 03/29/2013 - 16:42 | 3389421 flacon
flacon's picture

Blame the victim of the crime? Seriously dude?

"Well if she wasn't so hot I wouldn't have raped her."?! 

Fri, 03/29/2013 - 16:47 | 3389444 dogbreath
dogbreath's picture

What are you suggesting?  ZH sponsor its very own slut walk.

Fri, 03/29/2013 - 16:49 | 3389445 Irelevant
Irelevant's picture

Victim? I see no victim here, the bank is a instrument of the oligarchs to fleece the sheep, if you are blind and cannot see this take the blame or chose the high road and educate yourself.
This is not rape, this is at best Stockholm syndrome, but even so, I still say fuck them, fuck them all, they were warned, nobody listened, and are still not listening. I have no pitty for them. Would they have pitty on us? Right wing extremists, libertarian terrorists? Will they have pitty on us on .gov will chose to fuck us up? They wont care, they will never stand by us, they will chose to be fleeced and even blame us for it. Read some history.

Fri, 03/29/2013 - 16:52 | 3389461 Beam Me Up Scotty
Beam Me Up Scotty's picture

"Right wing extremists, libertarian terrorists?"

You forgot the left wing extremists.  Hell even regular left wingers think that our current monetary policay is OK.  Print print print.  Its the big government pricks from both parties who are to blame. 

Fri, 03/29/2013 - 16:54 | 3389466 SpiceMustFlow
SpiceMustFlow's picture

I don't think you'll find many here that think fiat is wealth, unfortunately most people don't understand the first fucking thing about economics much less monetary systems. And while it is their fault in a way, they are merely conforming to the structures which have represented safety and prudence for their whole lives. He tried to do what was right, and got fucked. Not everyone reads ZH. Don't be an asshole.

Fri, 03/29/2013 - 17:03 | 3389500 Irelevant
Irelevant's picture

If you and I would had met this guy one year ago and had told him what we speak of here, he would had considered us mad or a serious threat and call the police. Dont you see, the branch manager told him one week before all was ok!
Ignorat does not mean you are a victim, and stupidity is not a handicap.

Fri, 03/29/2013 - 17:11 | 3389519 SpiceMustFlow
SpiceMustFlow's picture

Look, all I'm saying is if that was your dad and you DID tell him to get his shit out a year ago an he didn't, I doubt you'd call him up and say "I told you so you fucking muppet! Stupidity isn't a handicap!"

Fri, 03/29/2013 - 17:21 | 3389548 Irelevant
Irelevant's picture

My dad should try me :)

Fri, 03/29/2013 - 17:46 | 3389614 SpiceMustFlow
SpiceMustFlow's picture

Haha okay +1 for that you heartless bastard

Fri, 03/29/2013 - 17:20 | 3389547 McMolotov
McMolotov's picture

It's easy for us to sit here and criticize the people who aren't awake to the lies around us, but I imagine all of us were asleep at some point. I wasn't born into this world with an understanding that fractional reserve banking is theft, and I highly doubt you were, either. It takes some people longer to wake up than others, and many simply won't wake up. That's life.

But we can't just dismiss those who get screwed by the system as idiots meeting their Darwinian fate. This isn't like someone who repeatedly touches a hot stove and keeps getting burned. That person's an idiot. People have been conditioned from birth to trust banks, to trust the government, to trust authority. That's not the same at all. It's difficult — painful even — to "unlearn" all that, and as we've seen these past few years, it might just be impossible for some people. This poor bastard got screwed, and the best we can say is that his misfortune might shake some people out of their complacency.

But in my opinion, people like this guy still deserve a measure of pity unless they directly turn on us to defend this dying system.

Fri, 03/29/2013 - 17:24 | 3389557 Irelevant
Irelevant's picture

So what you are saying is that the conditioned ones will not survive in the wild? In that case what diference does it make?

Fri, 03/29/2013 - 17:41 | 3389600 McMolotov
McMolotov's picture

All I'm saying (and maybe I'm a big softy, though I've never been accused of that...) is I feel bad when I see a dead animal on the side of the road.

From our point of view, he should have known better than to try to cross the road, but he had probably crossed it many times before without incident, and now he's gonna be in some homeless dude's squirrel stew.

Fri, 03/29/2013 - 17:44 | 3389608 akak
akak's picture

The critical difference, though, is that the roadkilled animal was killed by accident, while the savers killed in Cyprus were slaughtered by design.

Fri, 03/29/2013 - 19:53 | 3389940 Pseudo Anonym
Pseudo Anonym's picture

so,... what side are you on w/ this?

the roadkilled animal was killed by accident, while the savers killed in Cyprus were slaughtered by design.

fuck the guy? or not?    besides, your analogy doesnt cut the mustard.  try something else. like comparing apples to apples.  this is a dog eat dog world.   this is one very clearly identifiable group, the hofjuden, preying on the rest of their own species.  any stupid fuck that loses money to a fucking bankster deserves what he/she gets.  this hofjuden run banking scam has been around for at least 350 year.  wtf am i saying?  the money changers are successfully executing the same scam since jesus time.  we deserve to be fucked by these parasites because our ancestors did not cut their heads off, and we continue on the same path - not rounding up these hofjuden banking families and beheading them.

Sun, 03/31/2013 - 10:15 | 3393203 trader1
trader1's picture

what gives you reason to think this is by design?  

you don't have to explain yourself, if you say your philosophy on life is deterministic...i get it.

Fri, 03/29/2013 - 17:52 | 3389617 fuu
fuu's picture

Yes but this isn't an opossum, this is a great ape who can actually learn from others that have gone before him.

Fri, 03/29/2013 - 18:24 | 3389720 blu
blu's picture

You big softy you.

Fri, 03/29/2013 - 18:34 | 3389749 Harbanger
Harbanger's picture

The problem with emotions is it often blinds our judgement. ie.- If you later saw a starving homeless person making squirrel stew to feed his starving children, then you would feel happy for them, and not care that the squirrel was run over by a car.  With this new emotional information you may even try to run over more squirrels.  Another person may see you swirving trying to hit squirrels and think you're heartless.

Fri, 03/29/2013 - 17:51 | 3389623 BoNeSxxx
BoNeSxxx's picture

When the time comes to fight, it will be guys like this that will be standing shoulder to shoulder with the resistance.  Some may not fully appreciate why they are there, how or that they were previously conditioned, or what's at stake but in the end they will understand where they are.  They know justice, freedom, right, beauty, and light from oppression, slavery, control, and evil.

Trust me, the sides are becoming clearer every day.  By the time the sheeple have to chose one, there will be no mistaking the side to which you belong.  

The only question that remains is whether it will matter...

Fri, 03/29/2013 - 21:42 | 3390337 Rogue Trooper
Rogue Trooper's picture

I think YOU should wake up. Tell me 'irelevant' how many reads does ZH article get on a big news day?  50,000 well gee-fuckin' wiz'! That is fuckin' nothing, not even a statistic blip on TPTBs 'the sheeple are waking the fuck up' radar screen.  We are going to need more than that to have a snow balls chance in hell of getting out of this or even making them pay.

Your on the right side and you are actually conceptualy right that these fuckers are their own worse enemy (bit like the OWS tards).  But some may actually work out that 2+2 together does not equal 5 has they have been told. These cunts-in-charge are going to make it ZERO.


Fri, 03/29/2013 - 17:45 | 3389611 CosmicDebris
CosmicDebris's picture

I couldnt agree more Mcmolotov. Very well put. Thanks.

Fri, 03/29/2013 - 17:53 | 3389628 SpiceMustFlow
SpiceMustFlow's picture

Very well put, and what can he do aside from voice his opinions in whatever forum is available? Things would be different if they had (not that they won't) go after deposits under 100k, then we might see bankers strung from light poles. But they too realize this and don't want to make the majority completely enraged (yet). This guy is only reacting to probably the most catastrophic thing to happen to him...ever. Can't blame him if he "just" goes on tv and speaks.

Fri, 03/29/2013 - 18:10 | 3389669 BoNeSxxx
BoNeSxxx's picture

Exactly but it's not just the <$100,000 depositors that determine the tipping point.  The Prussians actually had it down to a mathmeatical formula.  Something like 3% (if I recall) of the population had to be kept content enough not to rebel in order to avoid a revolution brewing.  If the bottom 3% got spooked, it was over.

You see this everywhere.  In the USA we have x% on food stamps, x% in the military, and x% in prison (or otherwise in the system).  Insuring the small depositors is just their way of making sure the tipping point is not reached.

Sat, 03/30/2013 - 06:01 | 3390972 Seer
Seer's picture

I'm not liking the attitude of "fuck him," but your logic is perfectly sound (and I presented an argument up-thread).

"Dont you see, the branch manager told him one week before all was ok!"

As I'd mentioned in my long up-thread post, who in their right mind would expect someone whose very livelihood depended on YOUR deposits telling you to PULL your money?  This would be like expecting us to ask Jim Cramer if a stock we were invested in (or, more likely, were about to invest in) was bad.  Cramer, the bankers, the bureaucrats, ALL know how to play the Bigger-Sucker game!

Business is dog-eat-dog.  Business is wired into the banking structure.  And all rides on top of our fantasy-land notion that we can "grow" without end (and when it's NOT working it's the fault of <fill in the blank>, never that we're hitting the bounds of a finite planet [never allowed to look into the mirror!] only "others" have the element of human nature that is deception!).

Fri, 03/29/2013 - 17:44 | 3389607 OccupyTVstations
OccupyTVstations's picture


Who was warned- ZHers? You think this old guy was reading ZH?

99.9% of the sheep have not been warned, they're too busy playing video games and watching reality tv.

That's why the best way out of this mess it to actually warn the sheeple, by OCCUPYING the TV (and/or RADIO) STATIONS.

Or better yet, a teenage geek saves the world, hacks a major network and broadcasts 9ll, war, and bankster truths... this would get the people in the streets.

But no.... all our 'leaders' can only write articles decsribing how we're being robbed, nobody is smart enough to talk about actual plans that might work. Ex Navy Seals take a 'vacation' in the caymans... Every 'progressive' website posts link to wikitruthia (made that up, or wiki.zh, etc) that lists all of the crimes of bushco, obama the backstabber, bernankE etc... then we organize protests in the summer (when students and teachers are free), not in september like code pink, answer, and all the other co1nt3lrp0 minders do every year.

Fri, 03/29/2013 - 18:00 | 3389645 Irelevant
Irelevant's picture

That will get him shot or in jail, the masses would not get it, the educational system took care of that. This is a much larger issue than many think, we no longer have critical thinking.

Fri, 03/29/2013 - 18:43 | 3389774 blu
blu's picture

"we no longer have critical thinking."

I have some news for you, we never did have critical thinking. At least, not as a rule.

Critical thinking is difficult, unrewarding, and socially dangerous. There are few individuals in society capable of free-wheeled wild-assed critical thinking, I think because as a rule they fail to reproduce. Critical thinkers run out of friends really early in life and either give up on it as a lost cause, or go crazy from loneliness.

Sometimes, they become engineers before they are destroyed and then they really do find their home.

Engineers tend to get this shit, quickly. The math doesn't confuse them. The newness doesn't frighten them. They are open to mental challenges and attacks on assumptions because as an engineer you have to accept up front that shit is not always 100% how it appears. When engineers lie to themselves about shit and start in accepting untested an unvalidated assumptions, bridges fall into rivers and boats sink on maiden launch.

Thing is engineers hate all this public policy crap. The problems appear unsolvable. People are lying, nest-feathering fucks. Nobody listens to sensible talk but go off on tangents about this or that political party, or illegals on welfare, or pork spending or some other nonsense about free markets.

Fuck it. The stupid monkeys wanted it this way, so that's how they get it.

Can't critically think their sorry asses out of a wet paper sack, most of them.

Fri, 03/29/2013 - 20:56 | 3390160 Cathartes Aura
Cathartes Aura's picture

I'll upvote you for this line of thinking,

Critical thinking is difficult, unrewarding, and socially dangerous.

and the paragraph that's attached to it. . .

but know this, not every critical thinker is an engineer or math-geek.  some are capable of seeing through cultural bullshit, and they're mostly the freaks 'n' geeks that got tormented into awareness by the "stupid monkeys" who enForce the cultural rules from a very early age.

and yeah, the "fail to reproduce" thing, oft times that's the clue.

this is playing right now, I think you'll agree. . .

ah ha ha ha ha

Fri, 03/29/2013 - 18:50 | 3389796 Dapper Dan
Dapper Dan's picture

speaking of Seals,

Member of SEAL Team 6 killed, another SEAL injured in parachute accident


By Jim MIklaszweski and Courtney Kube, NBC News

A Navy SEAL from the elite SEAL TEAM 6 was killed and another SEAL injured Thursday night during a parachute training accident in Marana, Arizona, the military said. Details of the accident are not immediately available.

Sat, 03/30/2013 - 06:04 | 3390974 Seer
Seer's picture

Down arrowed, and proud to do so.

Thread hijack.

Servants of empire.

Mon, 04/01/2013 - 16:33 | 3397180 Orange Pekoe
Orange Pekoe's picture

The first people to turn on you are the ones you tried to warn. I don't get it, but it seems so to me.

Fri, 03/29/2013 - 16:52 | 3389447 PrintemDano
PrintemDano's picture

I remember back in the 80's a female was jogging in Central Park at night and got raped by several of Obama's sons.  The leftists cried she deserved it for being stupid. They were wrong just as you are.  The animals who stole this mans money are just as guilty as the animals who raped the jogger.  Being stupid or ignorant can never justify criminality.

Fri, 03/29/2013 - 16:58 | 3389485 imbrbing
imbrbing's picture

I gave you a down arrow (and an up arrow if i could) even though there can be some agreement here. Given the GLOBAL state of affairs that have been going on for a while he should

have been in protection mode. How many of us how long ago knew it was time to get the $$$$ out of the bank. From this point on if you get fucked

your just a plain ass idiot. A couple years ago, shame on you,  NOW at this stage of the game going forward if I get fucked....SHAME ON ME.

Fri, 03/29/2013 - 17:07 | 3389513 Irelevant
Irelevant's picture

I fully agree, for years people are telling everyone the casino is rigged to the core, the banks are insolvent, fiat currency is not wealth, and they just look at you like you are some lunatic trying to mess up their karma.
What is the point, simply find like-minded people and try to preserve what you can. Zerohedge has told so much truth it should charge membership by the day.

Fri, 03/29/2013 - 17:28 | 3389568 imbrbing
imbrbing's picture

I up arrowed this time :) I like it when people agree with me, lol

Fri, 03/29/2013 - 17:59 | 3389640 JimBowie1958
JimBowie1958's picture

for years people are telling everyone the casino is rigged to the core,

Dude, maybe everyone you know, but I doubt even that much.

The apparent normalcy that surrounds people is designed to distract them, confuse them, and remove their resolve.

But time is on the side of those who intend to bring this shit to the ground because the more people are ripped off the more the awareness of it grows. Eventually the banksters will be haning from trees if this shit keeps up.

Fri, 03/29/2013 - 18:44 | 3389781 Imminent Crucible
Imminent Crucible's picture

"...if this shit keeps up"

If this shit keeps up? You're in some doubt about it? The FinMin of New Zealand has already announced that they will do bank resolutions by raiding the depositors. Canada's new federal budget says Canada will also clip depositors to recap big banks "in the unlikely event of a failure" of one of those Canadian banks loaning a million dollars on a Vancouver crack shack. DieselBoom and the Eurocrats have already set up their Template Strategy and the shakedowns are coming in Slovenia and Luxembourg soon.

We don't need no stinkin Template. We got Jon Mierda Corzine.

Sat, 03/30/2013 - 06:21 | 3390990 Seer
Seer's picture

I believe that libertarians promote personal responsibility.  It is for this reason why I do NOT, in this case, defend this guy, for to do so would be to demote personal responsibility, to ignore risk.  As I argued up-thread (in response to one of your posts- I'm not picking on YOU), this is more about coming out on the losing side of a "legal" bet than it was about "theft."  All said, I DO find it highly repugnant the behaviors of the banksters (but they were on the treadmill to hell, so it should be no surprise that we, helping to finance the trip, got pulled along): as sick as it makes me to say so, the "angle/rationale" that was used to justify/enable this action IS akin to making shareholders bear the costs of a failed action/set of actions/business; and, yes, there SHOULD be some sort of class-action lawsuit filed declaring malfeasance (but malfeasance is STILL NOT theft).

"Whenever you find yourself on the side of the majority, it is time to pause and reflect." - Mark Twain

"Why are we in this handbasket, and where are we going?"

I NEVER have been a "group" person.  Group-think is problematic.  I'm sure that lemmings believe that there's safety in numbers...

Fri, 03/29/2013 - 16:43 | 3389427 OutLookingIn
OutLookingIn's picture

New acronym "D-Boom."

Account holders had D-Boom lowered on them and their funds, in their personal accounts.

Thievery by any other name is... well, STEALING!

It matters not the method used, it is still STEALING. Back in the day - horse thieves were hung! Done.  

Fri, 03/29/2013 - 17:23 | 3389556 palmereldritch
palmereldritch's picture

D-Boom: Clear evidence that the sound currency barrier has been broken.

Fri, 03/29/2013 - 17:49 | 3389619 Possible Impact
Possible Impact's picture

That should be a williambanzai7 picture,

with TheLimerickKing adding his verbal component as well.


Remember the Stephen Stills song performed by Buffalo Springfield?

"For What It's Worth"

It’s time we stop, hey, what’s that sound?
Everybody look what’s going down.

The title and lyrics both are a good match to your idea.



Fri, 03/29/2013 - 17:29 | 3389571 Buck Johnson
Buck Johnson's picture

And that is so true.  This and other things like this work because it happens to THOSE PEOPLE, but what people never figure out is eventually everyone becomes THOSE PEOPLE.  This is one man of many men and women who had had their retirement wiped out.  Not to mention the small businesses and you have a Cyprus that is in a very bad depression.

Fri, 03/29/2013 - 21:18 | 3390268 cptbld
cptbld's picture

I am out of the bar and doing due diligence. Dam how I miss the bar!

Sat, 03/30/2013 - 13:36 | 3391721 Silver Bug
Silver Bug's picture

What a bunch of filthly animals. This poor guy didn't deserve this.

Fri, 03/29/2013 - 16:21 | 3389357 inevitablecollapse
inevitablecollapse's picture

this pisses me off - these dickheads continue to punish people that work their asses off - how much more are people willing to take???

Fri, 03/29/2013 - 17:00 | 3389487 tango
tango's picture

inevitalbe - this is the crux of the problem.  The powers that wannabe turn their scorn on the invisible crowd - those who don't complain, work hard and follow the rules. The  producers, the frugal, the patient and the hard-working are now the object of their wrath whether it's Obama railing against those with wealth or some EU bureaucrat casually contemplating seizing the welath of those who earned it.  It's inevitable (sorry for the pun).  Once the line is crossed, there is no turning back.    

What I still can't fathom is that they know real prosperity is built on hard work, savings (and capital), disposable income and the freedom to choose and fail.   Why make it easier for folks to quit work, raise taxes and make it more difficult to innovate and succeed?  I just can't understand what they think will happen?

Fri, 03/29/2013 - 17:04 | 3389502 Sudden Debt
Sudden Debt's picture

e erything the government tells them to. and the reason is: the government loves you and cares for you and is there for you.... at least they believe so...
a drug dealer is a addicts best friend untill there's a money issue.

Fri, 03/29/2013 - 18:28 | 3389728 green888
green888's picture

and the landlord in the pub is not your best friend

Fri, 03/29/2013 - 16:52 | 3389462 Sudden Debt
Sudden Debt's picture

bummer for him...

maybe he was smart enough to care and bought silver and gold

Fri, 03/29/2013 - 16:52 | 3389463 Freaking Heck
Freaking Heck's picture

So very sad. Really what this story goes to show is that the vast populace across this planet have no idea how fractional reserve banking works.

Sat, 03/30/2013 - 06:26 | 3390993 Seer
Seer's picture

Aside from the fact that we cannot have perpetual growth on a finite planet, the failure was to understand that mixing banks and investment houses together significantly increases risk.

Just like with everything else, know when to hold 'em, know when to fold 'em.  Timing is everything.  There's no such thing as risk-free (and especially not as long as black swans fly).

Fri, 03/29/2013 - 17:12 | 3389522 Go Tribe
Go Tribe's picture

Agree it's disgusting. I don't understand, though, why someone would put $1 million in just one bank and not spread it around?

Fri, 03/29/2013 - 18:44 | 3389778 margaris
margaris's picture

he's been putting money into this bank for the last 5 or 6 decades.
That's how this hard working honest person accumulated 1 million in the first place...

It's not your typical investor who gets ahold of 1 million and greedily puts it to work in some financial instrument no one really understands!

no, this old cypriote treated his savings like a sort of tree... growing it every year... regularly pouring the yield of his hard work on it to nurish it.

The tree was this man's companion for decades... the old man hoped to live off the fruits of this tree when he gets old and weak...

But along came a banker and cut down the tree...

... the old man does not understand how this is possible, but the tree analogy makes it simple to understand:

Make sure the land you grow a tree on does not belong to a banker!!!

Sat, 03/30/2013 - 06:40 | 3391002 Seer
Seer's picture

" the old man hoped to live off the fruits of this tree when he gets old and weak..."

Relying on compounding interest REQUIRES continued/perpetual growth.  Making more FIAT by DOING NOTHING is NOT a logical position to take.

REAL trees PRODUCE something.  A pile of money does not: we pretend that it does- what it DOES do is allow us to buy contracts on things that might produce returns (returns made available through others consumption).  ALL contracts have risks (and, as we're learning, bank risks are exponentially amplified when standard banking and investment banking is mixed together).

The "old man" USED the banker and the banks to help him accumulate that self-growing, perpetual-growth tree.  The game was all going along fine until growth stopped.  Figure out the elephant in the room yet?

It all sucks.  BUT!  We've got to stop distracting ourselves from the REAL discussion- what do we do when there is insufficient growth to match our expectations?  We can fabricate all sorts of virtual stories about virtual trees and whatnot, but the virtual does NOT feed, shelter or clothe us.

Sat, 03/30/2013 - 08:03 | 3391078 margaris
margaris's picture


I was just displaying the romantic viewpoint many of those babyboomers have about savingsaccounts.

I don't think that this old man even knows or cares about "compounding interest" per se, because if that was important for him, he would have probably changed the bank many times in the last 6 decades, always chasing after the bank that provided the "hottest" interestrate.

But I am sure that his banker "friend" went into more and more riskier bets the bigger the money in the savingsaccount got.

HE is the one who was gasping for "compounding interest" all the time...


if the old man had put 1 ounce of gold away every month for 6 decades, he now would have 720 ounces = 22 Kilos of gold. "There is your million you poor man!"

Most of the time he wouldn't have payed more than an average 300-400 dollars for an ounce


Fri, 03/29/2013 - 17:19 | 3389542 Eireann go Brach
Eireann go Brach's picture

When is one of those fucking bureaucrats in Brussels like Barrosso or Diesel Boom going to end up in the ditch or the desert?

Fri, 03/29/2013 - 17:34 | 3389584 20-20 Hindsight
20-20 Hindsight's picture

Beyond disgusting!  I'm still waiting for someone to stop yelling and screaming, and protesting in the streets with great big signs, and actually start doing something about it.  Who's going to target the perpetrators of these crimes and make them pay... I mean, really pay?

Fri, 03/29/2013 - 18:03 | 3389653 RafterManFMJ
RafterManFMJ's picture

The article failed to mention if John owns a shotgun or intends to purchase one.

Fri, 03/29/2013 - 23:18 | 3390640 ImReady
ImReady's picture

I'll send him one...

Fri, 03/29/2013 - 21:02 | 3390191 canary
canary's picture

35 years in a cash market in Australia?  non tax evading?  really?  A million? I believe you but many wouldn't.

Fri, 03/29/2013 - 16:08 | 3389296 Sabibaby
Sabibaby's picture

Australia is in the mix too, and British pensions... Looks like there's some contagion to me!

Fri, 03/29/2013 - 19:15 | 3389839 Winston Churchill
Winston Churchill's picture

You aint seen no contagion yet.

After  post on Cypriot businesses I was mulling it around while

commuting between clients today.A couple of questions came to mind;

1)What happened to Letter of credit on those Cypriot banks ?

2)Same for revolving bills of exchange ?

3)Who will ever take an export order from a Club Med private company  again ?


The common market is totally destroyed, and this is what Germany wanted.

Not just the Euro, but the EM.

The PIIGS are out,they just don't know it yet..



Fri, 03/29/2013 - 16:09 | 3389298 redpill
redpill's picture

They didn't use a gun, but they robbed you nonetheless.

Fri, 03/29/2013 - 16:17 | 3389334 WTFx10
WTFx10's picture

Guns don't kill people, Awake pissed off and lied to Americans kill banksters?

So the government tells us think of the children. Thats why we need gun Control.

Who does Gun Control benefit? The criminals left with the Guns and who are the criminals?


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