Meanwhile In Front Of A Cyprus ATM Machine...

Tyler Durden's picture

One of these two Cypriots is happy. The other is withdrawing his daily Troika allowance.

h/t Ro

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Terminus C's picture

Pretty soon we'll all be the guy on the left.

 

What you talkin about Willis's picture

Long weed buried in random places.

ihedgemyhedges's picture

Pretty soon?  Hell, I'm on my 3rd Olde English 800 already......

The Big Ching-aso's picture

Why don't they just cut to the Pavlovian chase and shock the shit out of the guy when he presses the withdrawal button?

Irelevant's picture

For trouble depositors the new electric collar, with RFID... sure to stop all ATM harassment!

Jake88's picture

They know where he lives. A drone will visit while he sleeps.

Pseudo Anonym's picture

which atm are you sitting at?

Hell, I'm on my 3rd Olde English 800 already.....

TheLooza's picture

You'd be happy too if you had such great hair at that age.

kaiserhoff's picture

Well maybe, but he's only 28;)

Tijuana Donkey Show's picture

Anything that takes 12 steps isn't worth doing....

kaiserhoff's picture

Or you could yell "fetch wench".

God I love those old Saxon monosyllables.

bank guy in Brussels's picture

Odd interpretation of the Cyprus depositor freezes-confiscation from Jim Sinclair ... he thinks the Cyprus depositors might still get their deposits back in full, that the confiscation talk is a head-fake, that all we have is account freezes so far.

Sinclair says it may be very different from what it looks, because all that is concrete so far is that withdrawals are limited to tiny amounts and the bulk of many accounts, tho indeed frozen and inaccessible ... not yet truly confiscated, in his view

Sinclair notes the large number of media scare stories being run about bank deposit confiscation, a sign they are obviously planned and approved by the Powers That Be - there is open discussion of deposit confiscation across the EU, in the UK, in Switzerland, in Canada, in New Zealand, in the US ... and of course on ZeroHedge

For Sinclair, this means the Powers are just trying to spook some 'money on the sidelines' trillions into being spent

Sinclair hints that, in the end, the Cyprus depositors might not lose their money ... that in the end ECB liquidity will pump the funds back so people will not lose deposits

On the other hand, Sinclair also admits fear that, in this nearly-out-of-control environment, they might actually seize the accounts in the end, in Cyprus and elsewhere, with disastrous consequences for the world ... but Sinclair is more inclined to think the Cyprus 'depositor confiscation' is still, at the moment a head fake

One can hope Sinclair is right ... but I have my doubts

gould's fisker's picture

I'd wager large that this fellow Sinclair doesn't have any "money" in a Cypriot bank--not a bad post, but talk is cheap from somebody who doesn't have stones in the game.

Mine Is Bigger's picture

Interesting.  I thought the other way around.  I thought he might have a large sum in a Cypriot bank, and it's his wishful thingking kicking in.

gould's fisker's picture

I was looking for a bit more passion in his argument if that was the case--like "they better give me back my fucking money"--but who knows, you may be right.

gmrpeabody's picture

I am somewhat surprised that you gentlemen are not a little more familiar with Mr. Sinclair than you are.

I don't mean that as a knockdown, just most here at ZH have also followed along with Sinclair, whether they agree with his views or not.

knukles's picture

Come to think of it....

If withdrawals are limited to a real tiny amount like 3Euros per month and the big money had never been told to skedaddle before the freeze, then there would always be enough cash for everybody.

Socialist Dream
Enough for everybody and everybody equally. <;)

Au Shucks's picture

how would JS having money on deposit in Cyprus offer any additional credibility to his hypothesis?  His argument is not based on emotional concepts, so having skin in the game would only UNDERMINE potentially his reasoning.   Seems you're making a strawman argument for some reason against either JS or his idea... very odd. 

The Big Ching-aso's picture

Ya his logik kinda eludes me. If mo-money is what they want going out then why not increase limit to 1,000 euros, etc.

Harbanger's picture

It eludes you because he never said that.  I'm still waiting for a link from the bank guy in brussels.

TN Jed's picture

Wait no more, I have a special magic internet which allows me to search for anything I wish. 

http://www.jsmineset.com/2013/03/30/in-the-news-today-1495/

 

Harbanger's picture

Now use your special magic brain to find the article where Sinclair says what TBGFBrussels claims he said.  Thanks.

TN Jed's picture

I am magic internet finder.  Alakazam!  This wasn't so I could produce a book report for you or be BGIB apologist but rather to provide you the link you couldn't be bothered to find.  However, I believe you can you infer BGIB's post from this.  Any disagreement with his statement isn't my problem.  I'm not interpreting Sinclair's words, just providing the copy from which I believe BGIB's came.  Have a nice day.

2nd paragraph from my link:

"Every article written on Cyprus carries the statement of huge percentages to be lost by depositors carefully using the words may, could, or some similar disclaimer. The published statement by the Dutch Minister of Finance who is captain of this initiative was that there would be no particulars until mid April. Simply put, the official EU statement set out broad goals without any specifics. This means that nothing has yet happened in Cyprus to a major deposit holder other than their inability now to access whatever funds they have left in their accounts."

from the 4th paragraph:

"While all this is happening MSM is on a campaign of making no real facts appear as accomplished facts. None of what is in either of these articles has taken place except the small daily amounts being offered by the ATM machines. Money will flee major banking institutions in the West rather than be subject to what MSM is advertising. There is a greater problem for Cypriot bankers and politicians."

Harbanger's picture

That's a Big inference, I don't see how he's saying that they're trying to scare money into being "spent", or that the confiscation talk is just a head-fake. He's saying people are going to get their money out of there as fast as they can.

TN Jed's picture

Maybe this is less about velocity of Euros and more about velocity of dollars.  If I wanted to move my cattle to pasture would I stand in the middle of the gate firing my gun or would I leave the gate wide open and scare those in the rear?

Rubicon's picture

Sinclair has passed his sell by date

orez65's picture

I respect Sinclair's analysis and predictions.

He has a great "batting record".

For example, his 10 year prediction on the price of gold was correct, +/- a couple of months.

No one is 100% correct.

IridiumRebel's picture

I agree. This whole move was to shake money from the sidelines. Whether they confiscate or not is another thing, but my slow motion bank run continues. As for "thieves" hitting the mattress, you got an alarm, three dogs, Boomstick and 300 lbs safe bolted down to get through. MOLON LABE.

kliguy38's picture

I suppose that's possible but then of course the precedent is set and that cannot be ignored....they're taking your money and they have instituted CAPITAL CONTROLS.  They are definitely elevating the FEAR level but if you are going to let the genie out of the bottle so to speak then WHY in the world would you try to put it back in now. I think they will let this game accelerate rather than terminate it.....watch for some braking.....but then suddenly they give you both barrels of FEAR......

TimmyM's picture

I think Sinclair overestimates the intelligence of the Troika. These people are just demonstrating desperate hubris. The State is not a smart foe, it is a hungry ignorant monster sucking up everything willy-nilly. It even knows no allegiance to its Ponzi partner-the banks.

MarcusLCrassus's picture

 

The troika are not government organizations. They are tools of the banks and other  multinational corporations. 

 

Politicians take the orders from corporations, not the other way around

Going Loco's picture

But the Troikatwats are scared, they have lost the plot and they are making it up as they go along. I believe the original thesis WAS a conspiracy to set up a single currency that would lock everyone in, then fail, and lead to all the Eurozone countries deciding that all-out unification would be the best solution. But I think they have lost control of the situation. Yes, they are listening to what the banksters are telling them (except the Cypriot banksters) but I'm not sure that even the banskers have a plan any longer. I think they are just delaying the day they go bust, one by one.

I wrote a long piece about the possible Eurozone plot to force total unification 3 years ago, here

Harbanger's picture

Please Link the article where Sinclair said that.  I can't find it on his web site.

imbtween's picture

It was actually a reference to an interview he did on KWN here.

 

It's implied that the goal is to move static liquidity into equities, but one that only makes sense if you accept the base presumption that the fed operates on the belief that dow good = economy good.

Imminent Crucible's picture

I'm okay with Jim Sinclair, but he's got a problem here. He's been insisting for several years that the Eurozone has no problems, the euro is fine, and it's all a sideshow to distract from the REAL problem, which is the terminal U.S. dollar and our massive debt issues.

Now that the Eurocalypse has come to full boil, he's apparently hoping it will turn out he hasn't made a complete ass of himself. Hey, it's tough getting old and set in your ways.

Svendblaaskaeg's picture

"At least we'd have beer."

Popcorn Sutton reloaded!