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"Betray Your Bank Before Your Bank Betrays You"

Tyler Durden's picture


From Jonathan Weil of Bloomberg

Betray Your Bank Before Your Bank Betrays You

What’s a Slovenian with several hundred thousand euros in the bank supposed to do? Spread it out among at least a few different banks, that’s what. Or move the money out of the country, while it’s still possible.

Imagine what must be on the minds of any savvy depositors still left at Nova Kreditna Banka Maribor d.d., now 79 percent- owned by Slovenia’s government. It was one of only four lenders in October that failed the European Banking Authority’s latest capital-adequacy test, a ritual best known for how lax its standards are. One that flunked was Bank of Cyprus Pcl, where uninsured depositors face 40 percent losses as part of the country’s bailout terms. Another was Cyprus Popular Bank Pcl, also known as Laiki Bank, where uninsured deposits will fare far worse and the bank is being shut.

Cypriot banks’ customers were complacent after uninsured deposits went unscathed in Ireland, Greece, Spain and Portugal, the first euro-area countries to seek international rescues. Slovenians won’t have that excuse should their country be next.

The former Yugoslav republic needs about 3 billion euros ($3.8 billion) of funding this year, while its struggling banks need 1 billion euros of fresh capital, the International Monetary Fund said last week. Slovenia’s central bank this week urged the country’s new government to quickly carry out a plan to recapitalize ailing lenders. It’s a familiar pattern.


The way it’s supposed to work at failing banks is that shareholders get wiped out first. Next the losses go up the ladder from junior debt holders to senior bondholders, and then all the way to uninsured depositors, if need be. Taxpayers and insured depositors shouldn’t have to absorb others’ losses or put money at risk to spare them. Troubled banks should have to fend for themselves.

This was the approach imposed on Cyprus. In ordinary circumstances, it would be considered fair. The best argument for why it wasn’t is that Cyprus had been lulled into believing it would be treated just as well as Europe’s other bailout recipients. The entire country got hooked on moral hazard.


The Central Bank of Cyprus warned months ago that the country’s banks needed an infusion of 10 billion euros -- which is more than half the size of the nation’s economy -- largely because of heavy losses on Greek sovereign debt held by Laiki and Bank of Cyprus. It seems a lot of customers were oblivious to the banks’ deteriorating health, or were confident they would be cared for by somebody else. The country is getting a 10 billion-euro bailout, nine months after it first asked for aid, except none of the money will go to the banks.

Suddenly it should be dawning on a lot of Europeans that deposit-guarantee limits matter. In Slovenia, the maximum is 100,000 euros per depositor, the same as in Cyprus. (Deposit- insurance programs vary among the 17 countries that use the euro.) For a few days last week, it looked as if customers at Laiki and Bank of Cyprus would lose even some of their insured deposits, which would have been a sacrilege.

That plan was scrapped, but could resurface elsewhere for all we know should some genius at the German Finance Ministry insist upon it. The one constant among bailouts of euro-area countries is that there is no rhyme or reason, much less fairness, in the way many details get worked out.

Cypriots may bemoan the inequities of their rough treatment, as might a bunch of wealthy Russians who mistook the island for a reliable financial center and failed to yank their money when they could. For the rest of Europe, the implications should be obvious. Anyone who leaves uninsured deposits in a euro-area bank is on notice that their money can and will be taken from them, if that is what’s demanded by the troika of the IMF, the European Commission and the European Central Bank.

Uninsured deposits aren’t riskless. Nor should they be. Still, it’s unclear why the euro area’s central planners sought to create a precedent that encourages capital flight from weak countries. This could lead to more instability, not less.

So far, there have been no signs of a mass exodus in countries such as Italy or Spain. But deposit migrations can happen slowly, with lots of time passing before they appear in official statistics. Or maybe little will change and most bank customers will go on believing “it can’t happen here,” until one day it does.

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Sat, 03/30/2013 - 12:10 | 3391514 blindman
blindman's picture

Definition of 'Demand Deposit'
Funds held in an account from which deposited funds can be withdrawn at any time without any advance notice to the depository institution. Demand deposits can be "demanded" by an account holder at any time. Many checking and savings accounts today are demand deposits and are accessible by the account holder through a variety of banking options, including teller, ATM and online banking. In contrast, a term deposit is a type of account which cannot be accessed for a predetermined period (typically the loan's term).
Investopedia Says
Investopedia explains 'Demand Deposit'
M1 is a category of the money supply that includes demand deposits as well as physical money, such as coins and currency, and Negotiable Order of Withdrawal (NOW) accounts. According to the Federal Reserve's Consumer Compliance Handbook, demand deposit accounts have these characteristics: no maturity period (or an original maturity of fewer than seven days), payable on demand, may be interest bearing, no limit on the number of withdrawals or transfers an account holder may make, and no eligibility requirements.

Sat, 03/30/2013 - 12:15 | 3391525 BaBaBouy
BaBaBouy's picture

EU People And OTHERS ...........


Buy GOLD And RUN !!!

Sat, 03/30/2013 - 12:34 | 3391587 CH1
CH1's picture

Buy GOLD And RUN !!!

Good luck at the border. Thug Central.

Sat, 03/30/2013 - 12:40 | 3391603 Boris Alatovkrap
Boris Alatovkrap's picture

If cannot is afford gold, then silver, and to be assure, take physical delivery. Boris is not recommend card board or salt, especially if not have covered storage area.

Sat, 03/30/2013 - 12:55 | 3391621 Ahmeexnal
Ahmeexnal's picture website has been forced to a hair-y-cut. Articles have been 404'd. is currently down due to a server attack and we are working to get the site back-up as quickly as possible. It appears we may have ruffled someone's feathers with the most recent article titled "FDIC & Bank of England Create Resolution Authority for Unlimited Cyprus-Style “Bail-Ins” for Systemically Important Instutions!" Thank you for your patience! - Doc

Sat, 03/30/2013 - 12:59 | 3391636 GetZeeGold
GetZeeGold's picture



Might want to call KWN for some advice.

Sat, 03/30/2013 - 13:04 | 3391647 Abraxas
Abraxas's picture

Yes, Eeeeegon von Grayerrrrs should be able to tell you.

Sat, 03/30/2013 - 20:25 | 3392569 Ahmeexnal
Ahmeexnal's picture

Laiki Bank is on the top of the list.

Sat, 03/30/2013 - 20:46 | 3392591 Boris Alatovkrap
Boris Alatovkrap's picture

Now Boris is to very worried be! Top 6 banks is Canadia, but Canadia is prepare for it to "internal recapitalization" for bank... Is Canadia friend of fiend?  Why is state intention to pillage of depositor class (liability)?!

Sun, 03/31/2013 - 00:22 | 3392900 Panafrican Funk...
Panafrican Funktron Robot's picture

Still, it’s unclear why the euro area’s central planners sought to create a precedent that encourages capital flight from weak countries. This could lead to more instability, not less.

It's really not unclear at all.  Classic "Lehman margin call" play.  When the music stops (and real growth at this point is done), the name of the game is confiscation and consolidation.  

Sat, 03/30/2013 - 18:08 | 3392340 Cap Matifou
Sat, 03/30/2013 - 18:40 | 3392397 TraderTimm
TraderTimm's picture

Proof that any centralized service is prone to demands by tyrants.

Get rid of any centralized financial vehicles while you still can.

Sat, 03/30/2013 - 19:09 | 3392443 Buck Johnson
Buck Johnson's picture

They are running scared that they have been outed on what they intend to do.

Sat, 03/30/2013 - 13:32 | 3391706 PiratePawpaw
PiratePawpaw's picture

Boris is the good sense to be making. Also is the Pawpaw (being in Deutschland to be born) finding the grammar  for the reading to be gut.

The +1 Ich bin for the Boris to give.

Sat, 03/30/2013 - 16:30 | 3392115 Chuck Walla
Chuck Walla's picture

The +1 Ich bin for the Boris to give.

Sehr Gut!


Sat, 03/30/2013 - 17:21 | 3392246 kaiserhoff
kaiserhoff's picture

Hinterkante Verben werden in Englisch verboten.

Backwordation or Conspiracy?

Sat, 03/30/2013 - 20:40 | 3392588 Boris Alatovkrap
Boris Alatovkrap's picture

Boris is trailing verb grammatical structure to understand!

Sat, 03/30/2013 - 15:38 | 3391985 Antifaschistische
Antifaschistische's picture the history of wealth. In the long run, wealth is very hard to store. Through these short blips in history, we have been able to store wealth in fiat.   I'm not an anti fiat guy for the same reason i don't have anything against buying a gift certificate.  A gift certificate is, in fact, fiat.  And it serves a purpose.  The problem is if everyone collects best buy gift cards as a means of storing wealth...and Best Buy ends up with a net liability that 100x it's annual revenue then you may not have great confidence in your gift certificate if your plan is to hold it for 30 years until you retire.

This is our world.  People deluded into believing they can store ultimate amounts of fiat and that it will all be good forever.  This never has been and never will be true.

I'm not a believer that gold or silver is a key to wealth appreciation.  I believe it's a component of wealth preservation when fiat regimes fall...and they will..they always have.  But taking your fiat and cashing it all on on gold is not riskless either.

If you have 100,000 in a target bank in a target country what about this...just go borrow 70,000 and don't spend a penny of it.  Take it out and put it in your safe or your safe deposit box.   If they give your 100k a haircut, give their 70k a haircut.  This is easier if all your wealth is "under the table" and you can use bankruptcy to wipe the 70k note (since they don't know you've got the cash).

If you're in the still have one last chance for the true riskless trade and that's buying 100k in nickels.  Nickels give you perfect dollar denominated preservation and a fiat fail protection with the copper/nickel contents.


Sat, 03/30/2013 - 17:22 | 3392248 graspAU
graspAU's picture

"On the other hand, if you're very safety conscious, you hold on to your gold bars"
-Evelyn De Rothschild, December 10, 2008. CNBC Interview

Sat, 03/30/2013 - 12:50 | 3391617 Lost Wages
Lost Wages's picture

The NWO gave the sheeple shitcoins so they won't flee into gold & silver anymore. Easier to sit on your ass & click. (Jokes on them, you can buy silver & gold by sitting on your ass & clicking too. The the final joke is on Bit Trolls when it goes to Zero.) At any rate, why bother driving to the coin shop when you can type your routing & account number into some strange foreign "exchange" and trade your money for nothing instead?

Sat, 03/30/2013 - 13:59 | 3391769 PiratePawpaw
PiratePawpaw's picture

Thought about the bitcoins for about 1 second, then decided to stick with silver morgans. I like the sound they make when you play with a stack. :)

Sat, 03/30/2013 - 14:01 | 3391771 q99x2
q99x2's picture

ZeroCoin is a different currency. It competes with BitCoin.

Sat, 03/30/2013 - 14:33 | 3391857 highandwired
highandwired's picture

I like silver too...


And, the best part is, I can buy it with those horribly inflated bitcoins!  Wow look at the price, only 40 cents. 

Sat, 03/30/2013 - 12:57 | 3391634 Professorlocknload
Professorlocknload's picture

The border? The line in the sand (water) across which flows narcotics, guns, stolen cars, ammo, currency, diamonds, fugitives, cigarettes, grape pickers and stray dogs?


Sat, 03/30/2013 - 13:35 | 3391714 FireBrander
FireBrander's picture

Those things only flow because TPTB want them too...if Big Business says to DC "We have more than enough Mexicans to exploit", the border is sealed the next day.

Sat, 03/30/2013 - 13:25 | 3391696 FireBrander
FireBrander's picture

The border?

You'll never make it out of your driveway. Driveway even seems a bit far to "make it"; odds are they'll take your gold and guns after they've BBQ'd you in your bunker.

Sat, 03/30/2013 - 13:36 | 3391720 dbarrett
dbarrett's picture

And this is the best place to get that gold....but can I run with the girl and will she take all my gold?

Sat, 03/30/2013 - 20:30 | 3392574 Ahmeexnal
Ahmeexnal's picture

In chinese, the world for girl is synonymous to "gold digger"

Mon, 04/01/2013 - 02:57 | 3395224 Kirk2NCC1701
Kirk2NCC1701's picture

LOL.  Historically and statistically, women marry up, men marry down.  Women (strategy of the egg) are attracted more to lifestyle and security choices, and men (strategy of the sperm) are more apt to be attracted to 'good genes' (trophy).  Nature is sneaky that way:  rather than duplicating strategies, it uses complementary strategies.  Fiendish!

Sat, 03/30/2013 - 13:37 | 3391722 Silver Bug
Silver Bug's picture

Honestly!! Why would you keep any more than you need in the bank, keep enough for capital flows and thats about it. Get the rest in gold or silver.

Sat, 03/30/2013 - 12:22 | 3391550 freewolf7
freewolf7's picture

What's a nice "incite to riot" meme?

Sat, 03/30/2013 - 12:36 | 3391590 McMolotov
Sat, 03/30/2013 - 12:53 | 3391625 blindman
blindman's picture

Money as Debt II Promises Unleashed (2 of 8)

Sat, 03/30/2013 - 12:30 | 3391575 Banksters
Banksters's picture

Most people have no idea...   

Sat, 03/30/2013 - 12:37 | 3391594 CH1
Mon, 04/01/2013 - 02:58 | 3395225 Kirk2NCC1701
Kirk2NCC1701's picture

Is BC for BJ next?

Sat, 03/30/2013 - 13:09 | 3391653 blindman
Sat, 03/30/2013 - 12:39 | 3391599 Ignatius
Ignatius's picture

Ah, we've found the worm at the center of the apple.

Fuck me, this is funny... 41 seconds...

Sat, 03/30/2013 - 12:47 | 3391615 formadesika3
formadesika3's picture

-- "You may give the whole system away... I'm sorry there's nothing we can do."


Sat, 03/30/2013 - 13:12 | 3391657 Professorlocknload
Professorlocknload's picture

Ha! The smiling local banker here told me "It's your responsibility to know when your debit card is compromised." But, it was compromised by a data breach within you bank. "Then you should have been notified."

I wasn't. "You should have been." I wasn't. "You should have been." I wasn't. "You should have been." I wasn't. You shoul"....Wait, I'll just go over to the teller window there and see if it's been compromised. "How much would you like to withdraw, sir?" All of it!

Sat, 03/30/2013 - 13:23 | 3391690 Svendblaaskaeg
Svendblaaskaeg's picture

thank! - I needed that - now back to worrying

Sat, 03/30/2013 - 12:40 | 3391607 spine001
spine001's picture

Wells Fargo used to require you a two day notification to widraw 10000 in cash. Then they went to 4 days in December 2012 they had changed it to 2 weeks. The 3xcuse is always the same, that they have to orde4 the cash and that they dont have it. 

You gals guys seem to be way behind what is happen8ng. In practice there are no ondemand account in the usa any more already. 

Mon, 04/01/2013 - 03:00 | 3395228 Kirk2NCC1701
Kirk2NCC1701's picture

Solution:  Wire the it out of WF and out of USA!  QED.

Sat, 03/30/2013 - 13:54 | 3391758 Cursive
Cursive's picture


That definition has about as much credence as Hitler's paper promise to Neville Chamberlain.  Two weeks before depositor savings were stollen, the head of the Cypriot Central Bank, Georgiou, wrote a letter declaring that it would be unconstitutional.  That was correct, but it didn't stop him from doing it.

Sat, 03/30/2013 - 14:04 | 3391778 blindman
blindman's picture

we should take it up with investopedia or the fed?
I just linked it, don't shoot the messenger bro.

Sat, 03/30/2013 - 14:30 | 3391843 Cursive
Cursive's picture


No shooting from this direction.  I agree with what you linked, it just doesn't mean much.

Sat, 03/30/2013 - 14:18 | 3391802 blindman
blindman's picture

The Gary Null Show – Derivatives Danger – 03/29/13
minute 42:30 . p.c. Roberts and ellen brown talk about
financial fascism that is our money/financial slave ship.
the system is like a pot roast, it has a shelf life. the time
is up and everything in the pot is garbage. don't blame me,
I didn't cook this shit up or order it.
I blame the mass murdering jekyl island criminals from
Europe and the usa.

Sat, 03/30/2013 - 17:11 | 3392219 kchrisc
kchrisc's picture

Yup, "legal" and "illegal." Always makes me laugh when I see or hear it. "That would be illegal, that's not legal," and my favorite, "that's not Constitutional." Blah, blah, blah!

Bastiat said in 1850, paraphrasing, that criminal institutions (aggress against Life, Liberty and Property), like governments, can only make, use and enforce law as an "instrument of plunder."

Since governments are a criminal mob organized to steal and kill, is it any wonder that they just pick and choose what "laws" they will and will not abide by?!                             hujel

Sat, 03/30/2013 - 20:17 | 3392547 billsbest
billsbest's picture

”If anyone, then, knows the good they ought to do and doesn’t do it, it is sin for them.” – James 4:17

An ethical person may know right from wrong, but a moral person lives it.

Sat, 03/30/2013 - 12:16 | 3391518 Abraxas
Abraxas's picture

Slovenia does not need a bail-in or bail-out (read: please help!!!)

Isn't it funny how these crisis are coming one by one and not in clusters. Japan, Iceland, Baltic countries, Greece, Ireland, Portugal, Spain, Italy, Cyprus, Balkan countries... Next to come: France, UK, Germany, USA. I'm long beer and peanuts.

Sat, 03/30/2013 - 12:12 | 3391519 Longtermnotreally
Longtermnotreally's picture

I'm all for the "crash the bank, buy a coin of silver" movement, as a matter of fact, why not convert all your currency to money and crash this whole corrupt system, that'll be the day

Sat, 03/30/2013 - 13:40 | 3391725 FireBrander
FireBrander's picture

Pre 1982 era pennies are worth at least 2 cents in melt value...BUY PENNIES and double your money instantly.

Sat, 03/30/2013 - 16:32 | 3392124 orez65
orez65's picture

" ... buy a coin of silver" movement, as a matter of fact, why not convert all your currency to money and crash this whole corrupt system, ..."

Now, that,s something to "with teeth"

I'm doing it.

Sat, 03/30/2013 - 12:14 | 3391522 tradertim
tradertim's picture

I am 'long' gold, home safes, and pit bulls.

Sat, 03/30/2013 - 12:22 | 3391547 Abraxas
Abraxas's picture

When there's a gold rush - sell shovels! (Don't listen to me since I'm proven failure in business(es))

Sat, 03/30/2013 - 12:23 | 3391553 tbd108
tbd108's picture

Your plan is OK however you should only take gold or silver in payment.

Sat, 03/30/2013 - 12:14 | 3391527 FreeNewEnergy
FreeNewEnergy's picture

Banks are evil, bitchez.

Sat, 03/30/2013 - 12:20 | 3391531 AL_SWEARENGEN

How many more victims will it take before people realize that 'your' deposits are not safe in a bank?  Be your own central bank.  A decent home safe can be bought for around $1000.  With banks paying little to no interest why reward them with your hard earned savings?  Time for another try at "crashing JPM buy Silver"  Only this time it will work by withdrawing all you money and then let the rallying cry henceforth be "Crash JPM, buy a safe."

Sat, 03/30/2013 - 12:32 | 3391573 Kaiser Sousa
Kaiser Sousa's picture

A. S. - 

all the rest gotta do is withdraw all accept what is neccessary to maintain the acct from the bankers...

deposit funds at the end of the month to cover only those expenses that HAVE TO BE PAID...

if funds are electronically depo'd to accts, withdraw immediately upon confirmation...

keep cash on hand for all other cost stored in said "$1000 safe" at home or alternative secure locale...




people we can win this War of All Wars......join me


Sat, 03/30/2013 - 12:40 | 3391601 McMolotov
McMolotov's picture

^^^ I did just this when the Cyrus shit started. Should have done it years ago, but this craziness is what finally pushed me over the edge.

Sat, 03/30/2013 - 12:53 | 3391627 Kaiser Sousa
Kaiser Sousa's picture

stay the course even if those around you dismiss or disparage you...

you family and loved ones will thank you very soon in the days, months and years to come...

you are not a man alone on an isle...

we r out here and there are more of us than you probably know....

Solidarity man....c you on the other side...

Sat, 03/30/2013 - 13:26 | 3391697 FoeHammer
FoeHammer's picture

Logged in to give you +1. Great comment

Sat, 03/30/2013 - 14:23 | 3391815 Kaiser Sousa
Kaiser Sousa's picture

thanks man..

just tryin to lift the tide under a boat filled with the downtrodden, defeated, and non-believers in the power of self and the strenght in numbers.................

surrender aint a option........

Sat, 03/30/2013 - 13:33 | 3391712 Melin
Melin's picture

"your family and loved ones will thank you very soon in the days, months and years to come..."

some will...some will blame you for being the "hoarders" who selfishly ruined the benevolent system.  The ideas that people hold will not necessarily change if the endlessly predicted catastrophe finally crashes down upon them. 

Not tryin' to be a bummer but fundamental ideas rule the world and the current crop of ideas that predominate say we are all brothers and we are all our brothers' gunpoint.

Sat, 03/30/2013 - 13:37 | 3391718 formadesika3
formadesika3's picture

Cyprus (press?) becomes a verb. "I got cypressed. You got cypressed. He/she/it..."

Sat, 03/30/2013 - 14:19 | 3391806 Arrowflinger
Arrowflinger's picture

Nothing this corrupt can stand. There is no honor among thieves and when the cracks appear they will turn on each other.


Sat, 03/30/2013 - 16:15 | 3392071 Legolas
Legolas's picture

And schedule all of your bills to be paid on the same day of the month, even if that means paying some early.  Only takes a month to get yourself set up to do this.  You better hope you have that long to get yourself on the safer side of dealing with the devil (banks).


Edited to correct typos. 

Sat, 03/30/2013 - 14:01 | 3391770 Professorlocknload
Professorlocknload's picture

Al. A home safe is a good diversion. Just don't keep too much in it. Another one sprouted legs and walked away while folks weren't home here recently.

 Best figure on $10,000 + for something solid. And anchor it to tonnage.

Though a good digging bar will open most cheap safes, this will go through most any safe, albeit a little noisy.


Sat, 03/30/2013 - 12:17 | 3391532 Kina
Kina's picture

I have my cash in an Australian bank and thought of splitting it between two Aussie banks, then realised if one went down probably they all would.

Sat, 03/30/2013 - 12:40 | 3391604 Urban Redneck
Urban Redneck's picture

Now that's just lazy (and irresponsible)... DIVERSITY is a good thing, in Banks, banker's one-ply, PMs, Safes, etc.

Never needlessly introduce a catastrophic Single Point Of Failure risk.

Sat, 03/30/2013 - 13:59 | 3391768 Matt
Matt's picture

At least if you have two accounts, you can pull cash twice as fast during capital controls. Plus you double your "insured" limit.

Sat, 03/30/2013 - 12:17 | 3391535 hampsterwheel
hampsterwheel's picture

Cyprus loaning Greece money - no doubt part of the Greek package that Cyprus was forced into... even at the fixed price of gold and silver (due to the banksters) holding physical is better than a zero rate 3 year bond - when are these billionairs going to start rushing into physical - me thinks it is already happening behind the scenes hence the move to repartiate Gold - those that know ....see the physical moving out even though the banks are still booking it as an asset...

Sat, 03/30/2013 - 12:20 | 3391542 1C3-N1N3
1C3-N1N3's picture


...or were confident they would be cared for by somebody else.

Be confident in many things, but not that.

Sat, 03/30/2013 - 12:21 | 3391544 Balvan
Balvan's picture

It can't happen again. Bank runs in entire Europe would be inevitable if they did it in another country.

Sat, 03/30/2013 - 12:36 | 3391588 Longtermnotreally
Longtermnotreally's picture

Ever heard about capital controls?

Of course it will happen again, it's been planned for years

Sat, 03/30/2013 - 16:08 | 3392051 Legolas
Legolas's picture

Bank runs across Europe should be happening now, and they are not.  Ever heard about the effects flouride has on humans over time as well as exposure to aluminum from chemtrails?  This is the only explanation I can come up with for why everyone is so placated; or is it medicated?

Sat, 03/30/2013 - 16:57 | 3392187 Svendblaaskaeg
Svendblaaskaeg's picture

"..only explanation I can come up with for why everyone is so placated; or is it medicated?.."

MSM, TeeVee, facepalm, the hole shabang dunnit - I have seen all my friends turn into zombies - I cant get to them any more, they are lost souls

Sat, 03/30/2013 - 23:39 | 3392816 spdrdr
spdrdr's picture

Well, I turned into a complete fucking Zombie, once they started fluoridating my drinking water.

When I was exposed to the Aluminium in the chemtrails, I started writing incredibly inane and paranoid blog comments.

Now, as a direct result of the 1% medicating me against my will, I am completely insane, and those nice young men in their clean white coats are coming to take me away, haha!


Sat, 03/30/2013 - 12:22 | 3391545 resurger
resurger's picture




  • 2012: Dormeo Octaspring introduces the memory foam spring mattress, designed to combine the best features of existing metal spring and memory foam mattress technologies.[7][8]
  • 2013:   Cyprus introduces a breakthrough mattress for cash, gold and silver storage.

Sat, 03/30/2013 - 12:25 | 3391548 hampsterwheel
hampsterwheel's picture

This is the beginning of the big reset - which we all knew what was coming - but these banksters are not going to die hard - its MF Global, Cyprus then the 401(k)'s converting to Tbills - then the huge tax increases - the middle class will die long before we see victory and collapse - the absolute dead pan bending over of the Western man has been shocking to see - whereas the Arabs take to the streets and die by the thousands - western man just takes it - must be the floride after all ... I don't get it...

Then those in physical will be rooted out - one by having to sell their stash ounce by ounce just to feed themselves - selling still for $1,500 an ounce two years from now,  then whatever is left over right before they gold run begins  will be considered weapons of financial terrorism - and its turn your neighbor in or FBI raids into Pawn Star shops..... this whole system is one big evil corrupt scheme - and there will be no getting out of it sitting on anything of value - it will be the financial equivialnt of being a Berliner after the Russian Army has been camped in the city for a week - where you are considered lucky if you haven't been raped yet - forget actually having anything of value - just you standing outside the rubble that used to be your house and begging for scraps at the Red Army bases.... hiding your wife and daughters - that's the future here

Sat, 03/30/2013 - 12:26 | 3391565 freewolf7
freewolf7's picture

Good talk. I feel better.

Sat, 03/30/2013 - 12:37 | 3391583 Abraxas
Abraxas's picture


You really know how to cheer a guy up, mate. Your post makes me wanna grab a power cord and hang myself from chandelier.

The problem is that you are probably right.


Sat, 03/30/2013 - 13:20 | 3391677 FeralSerf
FeralSerf's picture

To be forewarned is to be twice blessed.

Sat, 03/30/2013 - 13:25 | 3391694 Kaiser Sousa
Kaiser Sousa's picture

he doesnt have to be...

resistance is not futile....

especially when fear is no longer the control mechanism internally or externally applied.....

that which he desctribed aint gonna b my and my family's future....not without a fight to the fucking death..........................

Sat, 03/30/2013 - 13:23 | 3391684 centerline
centerline's picture

Is a potential outcome.  Very scary.  Desperate governments will do desperate things in order to maintain power.  They could give a shit about people at this point.  It is all about the means to the end.  So, once the game shifts, so will the approach in dealing with said citizens.

The extensive middle class is in the Western World is targeted for destruction.  It is the store of wealth the political and financial elite require in order to keep the party going a little longer.  They are going to tax the fuck out of us from every angle possible.  They have no intent (or means) to make good on promises that have been made.

I think that it is also fair enough to say that there might be a few that a plan - but most the elite classes are just making shit up as they go.  Most of these pricks go there by sociopathic means - which ought to add to the "oh shit" feelings we have.

Sat, 03/30/2013 - 14:12 | 3391792 PiratePawpaw
PiratePawpaw's picture

A little bleak, but not far off.

remember 2 points:  1)human life may be linear, but history is cyclical. Learn from it.

2) Every time; those who prepared not only were more likely to survive, but prosper on the other side.

Have on hand everything you need, plus something to trade to others who dont. They will give all they have for it.

Sat, 03/30/2013 - 14:21 | 3391813 Room 101
Room 101's picture

What a pollyanna!  Hell, we'll be lucky to stand outside the rubble to beg for scraps. 

Sat, 03/30/2013 - 17:03 | 3392207 Svendblaaskaeg
Svendblaaskaeg's picture

"... hiding your wife and daughters - that's the future here.."

"no sheep will be safe tonight" (Romancing the Stone)

In the movie it was funny - now not so much




Sat, 03/30/2013 - 17:29 | 3392264 BlackMagician
BlackMagician's picture

"the absolute dead pan bending over of the Western man has been shocking to see - whereas the Arabs take to the streets and die by the thousands - western man just takes it"

You could be proven correct on the Western male...HOWEVER, there have been a shit load of guns and rounds being purchased by some...this on top of what's in circulation privately. This movie has played before and the desperation is obvious. America is made up of 50 "countries" held together by a federal head. Now........if you were to say...start demanding guns, gold, and the women...well...shit would get INTERESTING FAST.

Sat, 03/30/2013 - 12:30 | 3391572 Kina
Kina's picture

Speaking of the banking industry ...cross post re Aust.


Appears that Australians didn't totally waste the past three years...

AUSTRALIAN families are now $160 billion ahead on their mortgages, squirreling away an extra $30 billion since the start of the GFC.

About half of the nation's three million home-loan customers have taken advantage of low interest rates to pay down debt at a pace the likes of which has never been seen.

New Reserve Bank of Australia figures show borrowers are a record 14 per cent in front on their combined $1.14 trillion of housing loans.

Sat, 03/30/2013 - 12:30 | 3391574 dick cheneys ghost
dick cheneys ghost's picture


Get ur money out of 'The Bank of Jewmerica'

Do not 'Save' in Debt

Save ur excess Rothschild Plantation Script (fiat) in pysical gold/silver

Fake Money is the 'root of all evil' in this world


Sat, 03/30/2013 - 12:33 | 3391584 Aknownymouse
Aknownymouse's picture

Why would anyone leave any amount of savings money in any bank on earth is beyond me. This could have been the biggest bullet in one foot ever known in financial history. Their are so many ways to guarantee a zero return like most banks today. Matress, coins, backyard, are but a few ideas.

Sat, 03/30/2013 - 12:36 | 3391591 JR
JR's picture

It would be better if we had the Mob hold our money. At least, they would shoot the people who try to take it.

The banks are the gatekeepers on a closed system where all the currency is under their control; there are no exits.

They have the doors locked and they are forcing you to use their system. And they can change the system whenever they want. And you can’t leave. And the bottom line, once they have you in their system, they can tell you what your labor is worth and if that’s not enough, they can take it away. And there’s no exit.

It was against the law in the USA to allow big insolvent banks to continue in business.

The government had outlawed risk for the TBTFs not only in the present but in the past, says Dr. Nikolai Bezroukov’s Softpanorama.

We don’t really need these giant gamblers. We don’t really need JP Morgan, Citi, Bank of America, Goldman Sachs or Morgan Stanley. What we need are dedicated lenders.”

By ignoring the laws on its books, Congress is now lawless. And the bankers are incorrigible and they are proving it.

Putting your money in a bank is not an investment, as they posthumously claim; the System forces you to deal in its paper money, to use its “legal tender for all debts, public and private."  The government forces you to respect FRNs as a medium of exchange. If anyone wants his debt to be paid off in FRNs in the USA, you must comply. This is the law, by fiat, by authoritative decree. This is what 'fiat' money is, paper money backed by nothing but decree.

The System forces you every which way but right to use its banks; its regulations; its usury, its thievery by shutting out competition...with the government as body guard. Ask Wal-Mart if you don’t believe it. Ask most any group of decent, honorable men with the wherewithal and knowhow who’ve tried to start up a bank.  Ask the credit unions the banks tried to stop with Operation Credit Union not so long ago. And, the media (Fox/Barron’s/WSJ), is at it again, demonizing the credit unions, afraid you’ll continue moving your money as the bankers’ tarnished image turns to black.

Here is a quote from a credit union letter to members when fighting “Operation Credit Union,” asking them to petition their U.S. Congressional and State legislators’ help in preserving and “safeguarding freedom of choice in selecting a financial institution” and in "recognizing the role credit unions play in the financial services market" :

Behind Operation Credit Union are three powerful banking organization – America’s Community Bankers, the American Bankers Association and independent Community Bankers of America. These three banking groups are attacking credit unions in an effort to restrict what credit unions can provide to their members while they (credit unions) achieved an even larger share of the consumer financial marketplace


With fewer competitors in the marketplace, the remaining institutions might not see the need to be as competitive in rates, fees and service charges.


History has shown that a competitive marketplace is good for consumers. By taking away competition and choice, consumers are left at the mercy of the few businesses that remain and control the marketplace.

Even gold may not be allowed to take an exit if exports are banned.

Sat, 03/30/2013 - 12:55 | 3391630 dick cheneys ghost
dick cheneys ghost's picture


Sat, 03/30/2013 - 13:43 | 3391731 LuchadorChumba
LuchadorChumba's picture

"If anyone wants his debt to be paid off in FRNs in the USA, you must comply. This is the law, by fiat, by authoritative decree. This is what 'fiat' money is, paper money backed by nothing but decree."

Es verdad, however...

Oye, the trick that many luchadors have up their chonies is to step outside the fighting arena, y don't conduct the transaction in the first place where a 'debt' is created.

Exchange of goods without debt money es esta bien as long as no equivalency in 'FRN value' is made on paper.

Espere, I shouldn't have told you that. This is my system. You will obey.

Nadie, Nobody leaves the ring. 

Viva El Luchador!

Sat, 03/30/2013 - 14:20 | 3391812 Professorlocknload
Professorlocknload's picture

That's the stuff of New Deals. Regulate the field down to a handful of entities, then control those remnants.

Consolidation is not our friend.

Government/Private Partnerships?  Sheeeesh! Just put your hands behind your back and listen for the "click, click."

Sat, 03/30/2013 - 12:40 | 3391606 Pandorable
Pandorable's picture

Banks can adjust insured limits overnight when it suits them. There's no escape.

Sat, 03/30/2013 - 12:44 | 3391611 dufferin
dufferin's picture

None of the people I know, be it Europe or north-am gibes a flying shit. 

It won't happen to us those sheep say. 

I hate to have 'friend' as dumb as that. The last possible brainwash would be to have them eat their own shit. 

Sat, 03/30/2013 - 12:44 | 3391613 Winston Churchill
Winston Churchill's picture

The big money is in the uninsured corporate accounts.Sad as the tales of

little people losing their money are.Disclosure;the Cypriot bank failure has

directly affected close family.

Corporate CFO's MUST be preparing to flee European banks as we speak.

Euro trade to the southern tier is now dead.Only a madman would do any business there.

This is going to take a few weeks/months to show up in the figures.

KreditAnsalt took several weeks to play out,so will this.Communication may be

much faster but human comprehension is not.

Sat, 03/30/2013 - 13:32 | 3391709 kaiserhoff
kaiserhoff's picture

Well said, Winston.

Moving at scale takes time, but clearly has started, and it won't stop until Europe is drained of liquidity and capital.

There will always be someone on the bubble, and three or four more who thnk they are.

Forward, Soviet.

Sat, 03/30/2013 - 14:15 | 3391798 noless
noless's picture

There are groups who will still do business, mostly what used to be called organized crime though.

Sat, 03/30/2013 - 12:48 | 3391616 falak pema
falak pema's picture

do you find the equation fair?

The banks can Libor scam and get away with it before justice, can we scam them on interest payments?

Never ! 

Can we recover our principal? If we stay inside limits. 

One way out? Invest in RE I guess.

Another? Invest in a small company that is family or in limited capital/unquoted on Stock exchange on a networked  basis with business friends. 

Think small, diversify,  I guess, as the big guys are now becoming fragile like Colossus of Rhodes. 

Sat, 03/30/2013 - 13:46 | 3391622 socalbeach
socalbeach's picture

ZH ran a few articles explaining how European banks were receiving lots of dollars, "here, here and here". Then Martin Sibileau explained how the bond cushion protecting depositors in Cyprus was reduced here.  The last step in Sibileau's 2nd chart showed the Cypriot banks having lots of dollars on the asset side of their balance sheet.

So maybe that means that if your bank shows a large increase in USD due to Fed action, it's not the bank being rescued, but the final step in letting the bank's bondholder(s) escape before the uninsured depositors get shafted.

add: or maybe one of the final steps.  From what I've read here, the Cypriot banks purchased Greek debt that caused them to become insolvent, and maybe that happened after the increase in USD assets on the banks' balance sheet.  Not sure of the exact sequence of what happened.

Sat, 03/30/2013 - 12:55 | 3391628 Monedas
Monedas's picture

"Money .... is like a wife .... you must not let .... other men .... get their hands on it !"  .... Flower Drum Song, Rogers and Hammerstein

Sat, 03/30/2013 - 12:54 | 3391629 stant
stant's picture

picked up another silver eagle today. they didnt have any gold ones. but i snag one when they do

Sat, 03/30/2013 - 12:55 | 3391633 earleflorida
earleflorida's picture

here, please take it,... it's not worth the pain, just give us back half and you can have the natural resources-- if there ever was gas we would had never seen, touched or felt its prosperity to begin with? 

Sat, 03/30/2013 - 12:59 | 3391638 malek
malek's picture

I've read better stuff from Jonathan Weil.

Suddenly it should be dawning on a lot of Europeans that deposit-guarantee limits matter.

Kind of funny to stop commenting here. "Deposit-guarantee limits matter, until they don't" would have been more prescient.

Sat, 03/30/2013 - 12:59 | 3391639 SoundMoney45
SoundMoney45's picture

Why would any sane person believe the official statistics?


"When it gets serious, you have to lie."

Sat, 03/30/2013 - 13:13 | 3391649 Yen Cross
Yen Cross's picture

    I'm starting to like the barter system more and more. Trade that fiat in for 'tangible assets'. It's good practice for the great reset.

    Unfortunately, I found out about these little gems too late. They would have been great 'Easter Basket' stuffers for [Chair Satan and Super Mario].   BBC News - Chilli Easter egg 'hotter than a vindaloo'

Sat, 03/30/2013 - 13:24 | 3391685 ekm
ekm's picture


Sat, 03/30/2013 - 13:25 | 3391686 ekm
ekm's picture

That's what expropriation or negative rates lead to: People not willing to use the money.


It is US Military that makes sure that there is demand for US dollars and Euros.

However, now, let's say if Saudi Arabia sheikhs are shipping oil in exchange for dollars and now they'd fear they'd be expropriated, that would mean that they won't ship the oil.


Something big is happening and it is going to implode soon, extremely soon, PREPLANNED.

Anything that looks too, too, too, too stupid is intentional. It seems to me that military complex has woken up and does not want to be played around any longer by bankers.

Sat, 03/30/2013 - 15:50 | 3392019 Pseudo Anonym
Pseudo Anonym's picture

that's your theory.

military complex has woken up and does not want to be played around any longer by bankers.

but, unless the military finds its own source of funding, the military is subservient to the banksters.   the military only gets pissed off when their funding gets cut off.  there may have been a decline in funds recently but nothing like the military is going to bite the hand that feeds it.

Sat, 03/30/2013 - 16:01 | 3392043 ekm
ekm's picture

It is the opposite.

It's the military that feeds finance, not vice versa. Funding with fiat money by use of a computer is NO LONGER funding.

Military makes sure dollars is backed by crude oil from the gulf.


Do you think Saudis will side with the military or the bankers? Hmmm, easy answer. The military.

Sat, 03/30/2013 - 13:16 | 3391662 Downtoolong
Downtoolong's picture

I'm keeping the balance due on my bank credit card slightly above the amount I have on deposit. If they take my money, I take their's and then some, after I use my rewards points.

Sat, 03/30/2013 - 13:16 | 3391663 put_peter
put_peter's picture

Now that cash deposits yield nothing just take your savings and put them into the deposit box. Doesnt really make no sense but this is what the wolrd has come to.

i'm going to do this next bank day. Otherwise i'll trust the most realiable companion on mine - brandy.

JMHO (of course)

Sat, 03/30/2013 - 13:19 | 3391673 Yen Cross
Yen Cross's picture

     Take your savings and put them in a 'floor safe' in your house. The bank can lock the front doors and render your safe deposit box moot.

Sat, 03/30/2013 - 13:30 | 3391699 FireBrander
FireBrander's picture

The bank can also open your safe deposit box; should a donation be required...

Sat, 03/30/2013 - 13:41 | 3391727 FeralSerf
FeralSerf's picture



According to in-house memos now circulating, the DHS has issued orders to banks across America which announce to them that "under the Patriot Act" the DHS has the absolute right to seize, without any warrant whatsoever, any and all customer bank accounts, to make "periodic and unannounced" visits to any bank to open and inspect the contents of "selected safe deposit boxes."

Further, the DHS "shall, at the discretion of the agent supervising the search, remove, photograph or seize as evidence" any of the following items "bar gold, gold coins, firearms of any kind unless manufactured prior to 1878, documents such as passports or foreign bank account records, pornography or any material that, in the opinion of the agent, shall be deemed of to be of a contraband nature."

DHS memos also state that banks are informed that any bank employee, on any level, that releases "improper" "classified DHS Security information" to any member of the public, to include the customers whose boxes have been clandestinely opened and inspected and "any other party, to include members of the media" and further "that the posting of any such information on the internet will be grounds for the immediate termination of the said employee or employees and their prosecution under the Patriot Act." Safety deposit box holders and depositors are not given advanced notice when failed banks shut their doors.

If people have their emergency money in a safe deposit box or an account in a bank that closes, they will not be allowed into the bank to get it out. They can knock on the door and beg to get in but the sheriff’s department or whoever is handling the closure will simply say “no” because they are just following orders.

Deposit box and account holders are not warned of the hazards of banking when they sign up. It is not until they need to get their cash or valuables out in a hurry that they find themselves in trouble.

Rules governing access to safe deposit boxes and money held in accounts are written into the charter of each bank. The charter is the statement of policy under which the bank is allowed by the government to do business. These rules are subject to change at any time by faceless bureaucrats who are answerable to no one. They can be changed without notice, without the agreement of the people, and against their will. People can complain but no one will care because this is small potatoes compared to the complaints that will be voiced when the executive order that governs national emergencies is enforced.

That order allows the suspension of habeas corpus and all rights guaranteed under the Bill of Rights.

A look at the fine print of the contract signed when a safety deposit box is opened reveals that in essence the signer has given to the bank whatever property he has put into that deposit box. When times are good people will be allowed open access to their safe deposit box and the property that is in it. This also applies to their bank accounts.

But when times get really bad, many may find that the funds they have placed on deposit and the property they thought was secured in the safe deposit box now belong to the bank, not to them. Although this was probably not explained to them when they signed their signature card, this is what they were agreeing to.

During the Great Depression in the early 1930’s people thought that many banks were going to fail. They were afraid they would lose their money so they went in mass to take it out, in what is known as a run on the banks. The government closed the banks to protect them from angry depositors who wanted their money back. Throughout history, governments have acted to protect the interests of banks and the wealthy people who own them, not the interests of depositors or box holders.

In a time of emergency, people will have no recourse if access to their safe deposit box and bank accounts is denied. If they are keeping money in a bank that would be needed in an emergency or in a time when credit is no longer free flowing, they may not be able to get it out of the bank. The emergency may occur at night or on a weekend or holiday when the bank is closed.

The solution is to take emergency cash or valuables out of the safe deposit box or bank account and secure them somewhere else, like in a home safe. An even better idea may be to close the safe deposit box account completely, letting someone else entertain the illusion of safety.
Americans have learned a few things since the Great Depression. They now have the FDIC to liquidate any failed banks.

The FDIC promises to set up a series of dates and times when safe deposit box renters can access their boxes by appointment to remove their property and surrender their keys. The FDIC also promises to mail bank customers an announcement of the dates for such events and include a question and answer page that addresses safe deposit box access.

The people have the FDIC to give them back the money they had on deposit that they were unable to get out of any failed bank that carries FDIC insurance. Sheila Bair, head of the FDIC, promises that depositor`s money will be available in 24 hours or less. But people should remember that the FDIC is just another bureaucracy, and it`s probably best not to rely on a bureaucracy in an emergency.



Read more:

Sat, 03/30/2013 - 14:33 | 3391856 Inbetween is pain
Inbetween is pain's picture

Sounds like BS to me--made up internet rumor.

Sat, 03/30/2013 - 20:37 | 3392581 saulysw
saulysw's picture

I agree, and so does snopes

Mind you, anything these days is possible, so..... Paranoia may pay off.

Sun, 03/31/2013 - 00:23 | 3392901 James
James's picture

That Snopes page is from 2006. Snopes? Really?

What that poster stated is true. Please refer to language in Obamas signing of NDAA for clarification.You own nothing if they want it.

Sat, 03/30/2013 - 18:20 | 3392361 Manipuflation
Manipuflation's picture

Agreed.  FDIC is practically insolvent.

Sat, 03/30/2013 - 13:17 | 3391667 dognamedabu
dognamedabu's picture

They are trying to get those who hold large amounts of cash into sovereign bonds then trash the bonds.

Sat, 03/30/2013 - 13:52 | 3391754 FeralSerf
FeralSerf's picture

Cash is sovereign debt of zero duration.  It's an illusion to think that cash is safer than government treasury bonds, notes, or bills issued by the same government that issues the cash.

Sat, 03/30/2013 - 14:07 | 3391782 Arrowflinger
Arrowflinger's picture

Then "Cash" is not "Money." Money has to be a store of value and unit of exchange, If the store of value becomes instantly and constantly fleeting, the exchange function will flee too. The ultimate question is whether the CB's want to have a functioning payment system. If they create the magnitude of inflation that they desire, they risk the payment system worldwide. What good willl be the machinations of the Wall Street boys if the electronic instruments they have accumulated go to naught?

They will pull off, yet again, the sort of mega-swing that Andrew Jackson warned of, so that THEIR electronic goodies have maximum value to secure real wealth.

You might not be able to take electrons to the bank but you can take Old Hickory's warning to the bank.



Sat, 03/30/2013 - 14:28 | 3391834 sosoome
sosoome's picture

Depends on circumstance. 

Ask the average Cypriot on the street if they'd rather have cash or bonds right now. For that matter, cash or gold.

Sat, 03/30/2013 - 13:18 | 3391669 sosoome
sosoome's picture

The fundamental problem is government insured deposits.

Banks should prove their worthiness with sound fiduciary practices, which will bring consumer wisdom back into the equation. Government backed insurance makes consumers lazy, and makes bankers susceptible to the easy road of human nature.

The blame is ours for allowing government to intrude. Bankers take the evil route; we enable.

Return responsibility to the consumer, 

Sat, 03/30/2013 - 13:18 | 3391670 JR
JR's picture

“Uninsured deposits aren’t riskless. Nor should they be.” – Jonathan Weil, Bloomberg

They want it all. They’re going to take everything. In Cyprus they wanted the “uninsured.”  And next time it’ll be the insured (who just missed by the hair of their Cypriot chinny chin chins).

Who says that there are degrees of safety in these banks? There is only the tyrant and the victims. You’ve heard of wealth transfer? This is risk transfer. The bankers take the risk with your money and past the risk on to you, insured or not.  And if there’s an opportunity to take it, they will take it all.

And, now, according to the bankers, just to store your money in order to use it a few days, even for monthly payroll and accounts payable transactions, means you’re risking it. I ask, what are banks for, anyway? Robbery?

This robbery was banker-orchestrated from the git go.

And, by the way, where’s the insurance against taking money out of “insured” bank account through inflation? And where is the limit on that? Is it 5%, is it 20%; will they need it to be 50%?

We’ve got trouble with a capital “T” and that rhymes with banks.

Sat, 03/30/2013 - 15:43 | 3392001 FreeNewEnergy
FreeNewEnergy's picture

We got Trouble with a capital "T" and that rhymes with "B" and that stands for Banks.

Fixed it fer ya.

Know your musicals.

The Music Man

Trouble in River City

A classic.

Sat, 03/30/2013 - 13:36 | 3391713 Albertarocks
Albertarocks's picture

If I were a wealthy Slovenian I'd certainly be taking steps to ensure my money doesn't get confiscated.  No doubt about that.  Not only would I spread it amoung as many Slovenian banks as necessary to ensure that none of the accounts holds more money than the insurable amount, but I'd be trying to get a good deal of it the hell out of the country.  But where and how could I send it 'anywhere'?  Via Bitcoin.  At the very least, to put at least a small portion of my wealth into Bitcoin just makes so much freakin' sense.  And when the wealthy start to make that decision en masse, it would take very little interest on their part to make Bitcoin spike 10 fold since there are so few of them in existence and there will "always be so few of them in existence".  That's the key... they cannot be diluted like every fiat has been since the very first day each of them came into existence.  I just can't see how Bitcoin can't go parabolic when the ECB has clearly and openly begun a rampage of theft the likes of which have never before been seen in the history of mankind.

Sat, 03/30/2013 - 14:12 | 3391790 sosoome
sosoome's picture

The risk is it's a digit.

When the digital credit system locks up, it could lock up all digital systems, giving the crooks time to figure out how to get it. Long shot maybe, but the risk is there, and politicons won't let it go long without them getting a cut (tax). But your point is good, and it may be worth, as you say, at least a small portion.

Sat, 03/30/2013 - 14:41 | 3391871 Professorlocknload
Professorlocknload's picture

Dollar to a donut the DHS/IRS has "Bit Coin" dead in it's sights?

Sat, 03/30/2013 - 15:08 | 3391924 Albertarocks
Albertarocks's picture

I agree, although there's nothing they can do about it except shut down the internet.  In the meantime their friends will be taking full advantage of it soon, if not 'already'.

Sat, 03/30/2013 - 13:50 | 3391747 blindman
blindman's picture

Debunking Money Damon Vrabel - 1 Myth and Machiavelli 1 of 6 Damon Vrabel

Sat, 03/30/2013 - 13:50 | 3391749 Debugas
Debugas's picture

businesses and savers do not need investment banks and do not want to lend their money to anybody. What businesses need is a current account with hteir money not lent to anybody but simply to do payments to their partners' current accounts. What savers need is a repository to keep their money safe. Do we even have any traditional banks anymore capable of conducting those two simple functions for their clients or have all banks went berserk into "investing business"?

Sat, 03/30/2013 - 14:29 | 3391837 coltek
coltek's picture

I wonder what is going on on Jekyl Island on this Easter Bank Holiday Weekend?


I think the Fed is coming up to its term limit sometime near...........

Sun, 03/31/2013 - 00:42 | 3392911 James
James's picture

While it's true the fed signed a 100 year charter, that was rescinded some time ago to a open-end arrangement.

Sat, 03/30/2013 - 14:41 | 3391869 Manipuflation
Manipuflation's picture

Hmm, so those little plastic things with magnetic strips in my wallet can be used as a weapon?  Here, I thought they were for scraping ice off of windshields this whole time.  Silly me.

If one of you rich ZHer's would just buy this 40 acres, with house, garage, shed, lake, wood burning furnace off of me I could proceed with project mayhem.  No debt, no MERS, have note.  Asking 200K cash or 100k PM's and 100K cash.  It's a great place to retire but not to earn a living.(unless you want to work for the .gov which I decidedly have no interest in)

Now is the time for all of those out there who talk about how they are going to live in the woods and live off the land to step up.  Taxes are $2300 a year.

Call my REA.

Sat, 03/30/2013 - 15:08 | 3391922 Professorlocknload
Professorlocknload's picture

No thanks. If I wanted an anchor, I'd rather have it be connected to a Sailing Yacht. I could change the climate on deck with the seasons, and hoist any flag up the mast that I please.

Maybe you want Craigs List?

These folks have a nice gig.


Sat, 03/30/2013 - 16:30 | 3392116 Manipuflation
Manipuflation's picture

Yep.  I already own a smartass boating accident domain name and webhost.  I just haven't activated the SEO option that I paid for yet.  All in good time on that. 

If you watched the youtube video you would see that there is a 26 acre lake on the property that is up to 20 feet deep.  One could easily have a boating accident out there.  I prefer to step up and have boating accidents on Lake Superior though.  Like way out in the middle...damn those squalls that come out of nowhere.  

Sat, 03/30/2013 - 15:32 | 3391976 BullyBearish
BullyBearish's picture

It's ironic...most people, afraid of having their money stolen at home by local thieves put it in a bank where it is free to be stolen by global thieves.  

Sat, 03/30/2013 - 17:36 | 3392279 Mototard at Large
Mototard at Large's picture

For God’s sake, please don’t tell anybody outside of the ZH forum, but I hacked into the Bureau of Labour Statistics (BLS) last night to find out their secret statistics-making methods. I found an encrypted file marked “statistics production” and this was what was in it. They use:


Anthropomancy – the entrails of recently unemployed dead men are read to determine U6 figures.



They have a series of other methods to find other economic statistics. They include  Gastromancy (U3) , Gyromancy, Myomancy, Omphalomancy , Onychomancy, Tyromancy, Belomancy and Necromancy (401K stuff. You really do not want to know about the last one.....)

ZH readers can see the full report at:

Sat, 03/30/2013 - 18:35 | 3392390 Manipuflation
Manipuflation's picture

+1 for the effort on the website.  Looks good.

Sat, 03/30/2013 - 19:28 | 3392463 MrTouchdown
MrTouchdown's picture

"Suddenly it should be dawning on a lot of Europeans that deposit-guarantee limits matter."


I wonder if it has dawned on the author that those limits can be changed at any time?

Sat, 03/30/2013 - 20:04 | 3392520 billsbest
billsbest's picture

”If anyone, then, knows the good they ought to do and doesn’t do it, it is sin for them. – James 4:17

An ethical person may know right from wrong, but a moral person lives it.


Sat, 03/30/2013 - 21:12 | 3392642 Kirk2NCC1701
Kirk2NCC1701's picture

It's even worse than you imagined:  The US investment houses (IRA, 401k) are required by law to report you to the IRS and DHS if they even suspect you of doing anything creative, unusual or suspicious.  And they are not allowed to tell you or tip you off.  Failure to comply with even 1 case, results in them having to disclose all their non-US clients and their stats.

Based on this, it is FAR riskier to deal with a US brokerage/investment house/planner than an offshore one.  Sorry, sad but true.  /Welcome to USSA. /s

Sat, 03/30/2013 - 23:54 | 3392854 Ginsengbull
Ginsengbull's picture

Even local banks treat you like a criminal if you want to withdraw $10,000 OF YOUR OWN MONEY.


They ask if they can write you a cashiers check, what do you need the money for, who do you work for, tell you that they are worried about your safety....


If you keep it under $9999/ week they don't ask jack.

Sat, 03/30/2013 - 23:50 | 3392847 Ginsengbull
Ginsengbull's picture

Invest in steel, brass, and lead.


Primers, powder, and dies.

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