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Cypriot Parliament Approves Bailout
As was announced earlier today, the Cypriot parliament was set to vote on the country's deposit confiscatory bail in, a vote that was largely expected to pass. Moments ago it did.
- CYPRUS LAWMAKERS APPROVE BAILOUT IN PARLIAMENTARY VOTE WITH 29 VOTES IN FAVOR, 27 AGAINST
And with that, the resulting depression that is about to be unleashed in Cyprus is nobody else's fault but of the country itself, its politicians and ultimately, its people. So dear Cyprus, you may have a 20% GDP drop every year for the foreseeable future and triple digit unemployment, but at least you will have the EUR and your Stockholm Serf Syndrome.
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Mmmmm
http://i.imgur.com/QBwo9MF.gif
"...but at least you will have the EUR and your Stockholm Serf Syndrome"
well, they do want to keep the EUR, both Cypriots and Greeks. Calling entire other peoples sick in their minds (don't know the PC term for that and don't really care about PC anyway) does not change the fact that they have a completely different history and mindset
in this, several media outlets including the Telegraph and ZeroHedge paint a story that is in stark contrast with what Cyprus is really going through
the Cypriot on the street is strongly aware of the fact that without help those two banks would have been completely bust, for example
BAHH!!!!!!!!!!!!!!!!!!
not much of an argument, I'm afraid. fact is most here have no idea how Cypriots specifically and eurozoners in general think. many don't even understand the coastal populations of their own country, or in the case of the Brits the "other" North/South half
don't try too hard to project your sense of dis-integration on others
So are you saying that they did the right thing? Just trying to understand your point.
the people of cyprus should be storming there capital right now!
Or they just love being debt slaves too much
Or there just to dumbed down to even understand what the F*** is gong on.
Or there to busy watching the " how big is kardashins ass" cam
approved bailout = +10 spx
disapproved bailout dance with eventual approval = -5 spx, then +30spx
Good is good, bad is even better!
.....and a collapse would be epic.
Collapse my arse, did anyone expect anything different than approval?
This ballet is certain to provide visual perfection right up until the ballerina is dropped on her derriere...
Then she'll be rolled over and greeked!
DaddyO
[Off-color joke]: They are Greek. The reason is the same as for the guys who want to leave but just can't, because they can't leave their brothers' behind.
They must love getting reamed (used, abused and violated). So to speak. Or the ruling Elite (of Church and State) has made them into total shearable and shaggable sheep over the centuries.
If this is a beta-test for other countries... [shudder]
what is the "right thing"? do you know? there are only choices. they choose the continuation of a "loose alliance" instead of finding completely new options. not long ago they were a British Dominion, remember? They still have a "Sovereign Military Base" to show for, and half of the island is - from their point of view - still occupied by... another NATO ally
from a monetary point of view Tyler just today showed how even the biggest pair of FX can be "shaken" by speculative manipulation by dozens of pips - how can small currencies survive without anchor in this environment? face it, the EUR is still giving what we eurozoners wanted from it: price stability
but comments like "...the Belgian neofeudal kingdom" (from the other article on ZH) are just propaganda
what is the most neofeudal thing I can think of? Debt Prisons. And currently, the only places I know of in the so-called "First World" where creditors can jail you for not paying on your debt are Greece and the US. this is neofeudal, imho
millions in the EU and the EZ see them for what they really are, not for the strange beast painted by some media, mostly for domestic reasons
Cyprus will suffer no matter what. The only choice left was whether the bankers are coddled along the way.
The United States could not function without our debtor's prisons. If we didn't have them we would have people with bad debts roaming the streets!
I often wonder if the Americans watching this really understand how quickly their own nation will buckle under to mass banker theft of deposits and pensions and "earned" social benefits like SS when the time comes.
Oh sure, there will be a few pockets where the well armed might get violent but these groups and their actions will be despised by the masses who see *them* and not the banksters as the main threat to stability.
I think a lot of people here are gonna be shocked the day the banks close and they find out their neighbors are not in the slightest bit interested in "doing whats right" and instead want the govt to make it OK even more than they do now.
I think a lot of people here are gonna be shocked the day the banks close and they find out their neighbors are not in the slightest bit interested in "doing whats right" and instead want the govt to make it OK even more than they do now.
Recent Boston incident showed exactly where Americans' priorities stand when it comes to the relationship between police state / individual freedom.
Hint: very very few criticized the police state.
Also Ghordius, nice to see an actual independent thought expressed in the comments section! For all the complaints about 'sheep' zh has become a real herd mentality lately.
When an increasing percentage of a very small minority are enlightened to just how corrupt, criminal and unsustainable our current financial and monetary systems truly are, and that enlightenment leads towards an overall convergence of opinion recognizing the grim reality of the status-quo situation for what it really is, does that honestly indicate a "herd mentality"?
Allow me to make an analogy here: are physicists held hostage to a blind "herd mentality" merely by universally acknowledging the validity of the Law of Gravity?
Allow me to make an analogy here: are physicists held hostage to a blind "herd mentality" merely by universally acknowledging the validity of the Law of Gravity?
There can be a range of opinions outside that of course. If you go to newscientist.com I'm guessing most folks would agree on the general framework of the theory of gravity, but that doesn't mean everyone parrots more or less the same opinion on every article posted.
And you are implying that you see some putative uniformity of opinion on EVERY subject here?
If so, I would claim that you are either not reading enough here, or else are full of shit.
I often wonder if the Americans watching this really understand how quickly their own nation will buckle under to mass banker theft of deposits and pensions and "earned" social benefits like SS when the time comes.
This will be the day that the real blood starts running.You do this to 80+ million Americans with 300+ million firearms, and trillions of rounds of ammo(and assorted other goodies), the SWHTF.Bank it..It will not pay to be in any uniform if that day occurs,their will be 70 ton Abrams rolling up and down your local streets.Can you imagine a guerilla war here, the scale would totally make Iraq/Afghanistan look like a Church social.
"This will be the day that the real blood starts running.You do this to 80+ million Americans with 300+ million firearms, and trillions of rounds of ammo(and assorted other goodies), the SWHTF"
I disagree. But I guess we will find out sometime in the next few years.
Remember that in the 1930s the govt devalued the money 50% overnight by seizing gold and then changing the price after promising they would never do exactly this. This act was so brazen even the half literate must have understood what was happening. These were people who had just stood in lines outside failing banks who stole their savings while they sold their debts to the bank across the street which they were legally obligated to pay in full. Now their own government was stealing a huge portion of what was left over.
Not only did the president not get gunned down for this, he is known as the man who lifted America out of the depression and cemented the role of govt in redistributing wealth for the greater good once and for all. He is widely considered a hero.
If the kind of America the Tea Party envisions ever existed it was back then and the people sucked it up. They will suck it up this time too, though I wouldnt be surprised to see some of the guerilla war type action you mention. Somoene will call the cops to a domestic dispute and gun down whoever shows up. Then more cops will come and it will turn out the first incident was part of a much larger ambush.
These actions will shock the population who will happily begin acting as informants against the people calling themselves patriots or anyone else they think might have the means to pull such stunts. But as I said, I think we will have plenty of time to see.
I agree. Not going to happen. There will be some violence, and some worthy individual will get hit, probably on accident.
It is not the amount of guns or ammo, but the number of free minds that is the deciding factor.
And Amerika is dead fucking last in that department.
pods
whats happening is whats happened in Greece, everybody just moves into the underground economy and hides their wealth, most of Los Angeles' economy is underground already.
I think it's pretty obvious that there are two America's. The urban and the non urban. The blue and the red. The urban Americans are little more then Europeans by another name. They want the nanny state - they need the nanny state - they cannot survive without the nanny state.
The non urban Americans are the uncouth country cousins who can get along just fine without Big Brother, and consider Big Brother nothing more than a nuisance.
Urban America will react just like Boston did. Non urban America will be a differnt matter entirely.
http://www.meattrapper.com
urban/blue Americans might resemble the American idea of what Europens are, but I could give you tons of real differences, including our various conservatives as examples. Are Sarkozy and Berlusconi even remotely like urban/blue Americans? Would any sizable number of Americans vote for Cameron or Merkel or... Putin?
Our urban areas have their conservative enclaves, just as Europe does. But they are in the minority just as they are in Europe. And yes, plenty of urban Americans would vote for Cameron or Merkel. What exactly are the major differences between Cameron and Obama?
Can you imagine a guerilla war here, the scale would totally make Iraq/Afghanistan look like a Church social.
No, actually I can't imagine a guerilla war here. For every hardened, freedom-loving warrior in the US there are 99 blubber-bellied sheep fastened to Big Brother's teat listening adoringly to Obammie cooing lulling noises at him.
The average Afgan has been running up and down mountains from birth and been at war with invaders and his fellows for centuries... the average US citizen is like jello in comparison.
My ex-mother-in-law used to say, about her perky little breasts, "Gravity can't pull down what gravity can't find."
Not everyone is going to have deposits and pensions stolen, although that has already occurred with our contributions to SS. I ain't crying one little tear as TPTB Sigh-press U.S. accounts.
Ghordius, I ask you a few simple questions. Does Cyprus have Germany's productivity? Does Cyprus have Germany's cost base? Does Cyprus have Germany's infrastructure?
Now, I look at those questions and say to each, "No." And then I say to myself, "Then, why the FUCK does Cyprus have Germany's currency and cost of credit via the ECB?"
I say the same for Spain, Ireland, Greece, Portugal, and France for that matter too.
Iceland defaulted four years ago and now has close to 4% gdp growth and BBB investment grade bonds. Who made the right decision, Cyprus or Iceland?
aside from the fact that Cyprus had a better productivity than Germany thanks to a huge banking system on a 1m people population (their infrastructure is not bad, imho)... remember than many on ZH wish for the return of gold. and this for Cyprus would mean the same currency as Germany, again. as for centuries
nevertheless, yes, all funding costs of sovereigns in europe are whacked since decades. and do you know who's fault is for many of my friends? 30% of the EUR and 70% of the post-1971 global reserve currency USD
as you might read above, I'm not saying they are right or wrong, only that they made a choice - and that they might yet be proven right or wrong
What are you trying to say here, Ghordius?
"Since decades ago"?
"For the last several decades"?
"Since (insert year here)"?
I don't know why you northern Europeans insist on using the nonsensical construction "since (length of time)", but you should know that it just comes across as gibberish to a native speaker of English. One can properly ONLY use "since" in referring to past time in English by referring to a particular point in time ---- for example, "since I was born" or "since 1945".
Please learn how to use the word "ago" in reference to past time.
aside from the fact that Cyprus had a better productivity than Germany thanks to a huge banking system
What? A huge banking system doesn't make a country more productive of anything... except credit, of course.
remember than many on ZH wish for the return of gold. and this for Cyprus would mean the same currency
You clearly have absolutely no idea what you're talking about. I suggest you research the functional difference between (and ramifications of) endogenous and exogenous monetary systems.
aside from the fact that Cyprus had a better productivity than Germany
??????
Uh... no.
Germany and Cyprus productivity 2011 PPP hours worked
Germany : 125
Cyprus : 81
Care to try another argument that is based on facts?
http://epp.eurostat.ec.europa.eu/statistics_explained/index.php?title=Fi...
my fault, had a different figure in mind
No problem, thank you. And I understand totally your position and frustration. Ultimately what gets lost in all of this is that wages can rise if productivity increases. Banks can make loans if productivity increases with the use of their loans. That is where I feel the euro (and QE) are failing and I don't see this discussed enough. And ultimately if a country can't match Germany's productivity, they should move to their own currency, deflate, and devalue.
So are you saying that they did the right thing? Just trying to understand your point.
The point (if I read you correctly), was EVEN the insured up to 100kEU,would have nothing at ALL.This way the people w/insured accts at/under the 100k at least get to keep SOME of their coins, and these are the sheeple.If they said Nein, it would ALL be gone, and ALL the Cyps would have no money period.
So, the "average" Cyp,(Joe 6 Pack here) is at least assured of maintaining the little money they have left.The BIG dogs bailed way before this came down, advance warning to the select few.It's no difference than here, the sheeple would do the same thing.
Because they have been lied to and believed the lie. Give up your sovereignty and your masters will take care of you.
It's still a solvency problem, period. This does not address the underlying structural problem of fraud, accountability, and solvency.
"The underlying structural problem of fraud" has practically become a "Law of Physics."
Human civilizations are energy systems controlled by their most labile components, which were those who were the best at being dishonest, and backing that up with violence. That has been developing at an exponential rate for thousands of years. Each advancing technology, from the domestication of animals and plants, to the development of electronics and atomic energy, have been directed by the people who were the best at backing up their deceits with destruction.
The banksters are the contemporary manifestation of that basic "law of physics." There are no genuine solutions except to do what the banksters do better than them. The banksters' success is based on a system of lies and coercions, to make sure that the majority of people stay ignorant and afraid, so that they can be controlled and exploited. What we theoretically should do is make a greater use of information, through a higher consciousness, regarding our own existence as energy systems. However, that would take way, way, way too profound paradigm shifts to make that politically practical within the foreseeable future. Instead, we have "the underlying structural problem of fraud!" Our financial accounting system is fundamentally fraudulent. Our society IS controlled by the best organized criminals, who have taken over all our governments, because our governments were originally older forms of organized crime, which morphed in the more modern forms of organized crime, primarily dominated by the biggest banks.
Runaway FRAUD, backed by force, IS the basic system that surrounds us, and is controlling everything we do. We should understand WHY that happened, as the manifestation of energy laws within human energy systems ... then we might be able to operate those energy systems better, using more information, at a higher level of consciousness, than we currently do.
HOWEVER, the current systems are BASED on being controlled by the most deceitful and destructive people, who were able to control everyone else ONLY because they are good at deceit, backed by destruction. Those people have been able to brainwash the vast majority of other people to believe in bullshit. The vast majority of people have been conditioned to not want to understand how human energy systems operate.
The basic philosophical principles and spiritual insights regarding our lives as energy systems have been suppressed and distorted as much as possible, in order to make and maintain the growing social pyramid systems. The ways that we think about power are profoundly backwards, at the most abstract level of mathematical physics, on throughout every aspect of our political science.
Every single incident on this historical trajectory is merely more of the runaway triumphs of force backed financial frauds. Since the vast majority of the People have become Zombie Sheeple, they routinely get fleeced worse and worse, while they are being set up to be slaughtered off. Of course, that is so sad and too bad, but nevertheless, that is where we are headed ...
The ONLY thing that has changed is that the lies have become electronic, while the coercion has become atomic. Other than our technologies becoming trillions of times greater in their capacity, everything our social pyramid systems are doing is the same as Neolithic Civilization has always been, namely slavery systems, becoming more and more sophisticated, but therefore, also more and more INSANE, since they were based on HUGE LIES: "the underlying structural problem of fraud!"
Fraud, dysfunctional and black markets are the result of the limits and flaws of economic and political system, when it meets human nature.
The ideal system will allow for the nature of Human Nature, and provide some Rules of The Road so that people are free to pursue free-market ideals on a fairly level playing field that intends to favor merit.
Since no 'static' system can possibly deal with the dynamics of humans, the system must have enough Checks & Balances (informed and empowered humans) who act as Referees and Field Judges in this fast and dynamic game. Easier said than done, since most people will get comfortable & lazy after a while, while high ambition but low scruples will always be there to benefit.
Where there are grass-eaters (producers, builders, creators), there are meat eaters (predators) and parasites. In nature, a healthy ecosystem is able to keep a dynamic balance. We have yet to figure out something similar in the human world.
But because stupid serfdom = intelligence to some, it shan't be called 'stoopid' from distant lands.... sounds PC to me.
Lambs to the slaughter...
You have a point. There isn't enough insurance coin to cover the insured, if they went bust, no one gets any coin and the dominoes will fall rapidly, as they probably will anyway.
Insolvent banks bailing out other insolvent banks won't solve the problem of insolvency. In fact it will only make things worse. Nothing changes until bad debt is cleared and the leadership/owners of bankrupt institutions are held accountable. History is very clear on this.
Don't we just have wars to solve that whole 'insolvency' thing? That's a big word too. . . where's my gun?!
We are also assuming people remember history which - ironically - history shows us that we don't remember it very well.
Yes, but wars are due to a lack of trust as well. Insolvency and with no way to clear bad debt, a country can no longer engage in trade; when goods and services stop crossing boarders, troops will.
Same as it ever was.
"We just have wars to solve that whole 'insolvency' thing?" ... "Same as it ever was." Except for weapons of mass destruction!
"the Cypriot on the street is strongly aware of the fact that without help those two banks would have been completely bust, for example"
I'm sure the average Cypriot is happy to have the current capital controls in place. Being robbed blind by the banks always makes the world a better place.
yeah, the current capital controls in Cyprus are also a strange thing. the Cypriot Central Bank governor did not want them in place. The IMF did not judge them necessary. The ECB also supported this view. The EU commission had no opinion that I know of on this matter.
then the freshly elected Cypriot President said they would be necessary and ordered them, on his authority
as I wrote a few times here, this chapter of Cypriot history is still missing a few pages
Those pages will be found next to the data from the computer of the Cypriot banker who decided to buy all of those Greek bonds. The data was wiped out in case you didn't know about it. 15 months of e-mails missing but it's okay as it was the ECB's fault. It's never a Cypriots' fault is it phile mou?
Fuck an A.
To desire to stay in the euro, after the shellacking they just took, I just don't get it.
It's like they're channeling Tina Turner, "Hit me again Ike, and put some stank on it!"
We love our masters. We love our masters
How many are expected to survive the week?
Of the 29?
100%. The country is obviously full of compliant sheep.
They'll be compliant until they can't eat. At that point, I predict a riot:
http://www.youtube.com/watch?v=lU4ke34dKWo
http://youtu.be/HmeRd-AF7gI
Great point MM. Cyprus is low-hanging fruit for a CB. What are they going to do, smuggle food in on rafts? It's a seige waiting to happen. A black market is not possible. The exits and entrances can be covered.
Now, on to Ireland.
Twilight Zone
No, this is SOP. To keep the debt train going, increasingly risky policies are implemented. We are assured by the media "experts" that only the State can save us with more debt. The one certainty is that through thick or thin the State continues to increase its economic dominance.
That "thinking" has infected large majorities in Spain, Portugal, Italy, Greece and now Cyprus. It's a hamster solution wherein the cause of the problem is introduced as the solution. Debt is solved with more debt, the only regime accepted is the one that perpetrated this mess (EU), bad banks must accept money to buy more debt, unity is the goal despite the destruction of economies. Round and round she goes.
Sometimes, and increasingly, I despair that my fellow Americans by and large have become nothing but a nation of sheep, willing to be led wherever their sociopathic masters demand that they go, having become the most servile and nonthinking excuses for human beings that history has ever seen.
Then I read about Cyprus, and conclude that as bad as Americans are, there are others who are even more sheeplike in their kneejerk acquiescence to corrupt authority.
And Ghordius, try as you will to defend your failing (and deservedly so) Euro Evil Empire, I can only conclude that you typify the Stockholm Syndrome mentality of the average European. I feel sorry for you in your mental bondage.
sheeplike? for making this choice in parliament, 29 to 27? I reject this crass generalization, together with it's twin "Euro Evil Empire"
to generalize in the same magnitude, the Empire will force you to adopt the Metric System (instead of the...Imperial), use the Euro as the only world currency, drive only a Mercedes or a Ferrari, have your movie theater drink sizes regulated in Brussels, your payments scanned for criminal activity in Frankfurt and your food supply controlled by Rome. French Fashion Police will patrol your parties and torture you with pantomimes if found guilty of wearing the wrong suit...
akak, central banks and banking systems, hell, money itself is like... guns
it's how you use them and for what that matters
Greeks do enjoy taking it in the ass.
And Cypriots apparently like it Hard and Dry too.
Hey, as long as there's a nice, long line of German tourists outside your daughter's bedroom, we all get to eat, mm..k?
Better a prostitute in the family than a baby dead from hunger.
Faustian bargain. No thanks.
There will come a time when everyone will have to make that kind of choice for themselves. I'm a go along / get along kind of guy in a lot of ways, but there's a line.
Even I don't know exactly where that is.
The person offering me such a decision will though.
Unfortunately, we're likely make that choice at some point in the next 15 years. It's gonna suck. Some will opt to go out in a "blaze of glory". Many others will submit. I don't look forward to finding out which one I'll be.
It won't be an offer that you can refuse.
BTW that phrase was pulled from a treatise on the great inflations in Germany, Austria, and Hungary after WWI. It was a Hungarian saying.
There is nothing new under the son. Americans have the illusion of choice. This illusion will persist, until it doesn't.
It's like a Bruce Willis classic, DIE HARD!
Jesus Christ. What were the odds of that happening?
Fucking pussies...
The place will be a ghost town....will ZERO HEDGE feed the goats?
I'll still be here but I'm getting paid in dollars and everybody knows how strong that currency is...
Couldn't see it coming.
Total fucking joke.
It's really a fiat world.
Total. Fucking. Joke.
But why the surprise? Big majorities in Greece, Spain and Portugal are overwhelmingly for a continuation of the very system that has brought them to this place. Cyprus simply legitimized its support with a vote.
And you guys were expecting what exactly?
This defies all reason. They will be bled dry by their German masters and then tossed in the dump anyway.
Hard to believe that it went 29-27 without collusion involved
They should have punted and avoided the safety. Those two points cost them the game.
Maybe they tried the LBJ approach, "Now godammit, yer gonna vote yes and that's just the way it is."
Template efficacy... DEMONSTRATED!
So, will TPTB be applying this approach next on Spain? Or Italy?
Or Slovenia?
This is tragic.
Boy did I ever lose respect for Cyprus. I have no sympathy whatsoever.
Did you have a lot of respect for Cyprus beforehand?
Well, you hold out that hope that SOMEWHERE, SOMEONE will stand up and say enough, or organize or do something. But to take it just laying down the way they have. And the politicians felt safe enough to approve it so they certainly don't fear for their lives from an angry populace with empty bank accounts. Sad. And coming to the US soon.
Will you stand up?
So many people on this board and around the world, I think, insult and deride the fact that "no-one" stands up to the bankers and tptb. Yet resistance starts at home, with yourself. Do not ask others to do what you would not and certainly do not insult them for not doing what you are not doing. It is a very big step for a society to throw off "civilized" behaviour and go French Revolution. Once that line is crossed it is hard to go back and it rarely turns out well for anyone. I am not supporting what is happening in Cyprus, nor am I happy that people continue to allow this level of abuse and criminality by tptb but until you have taken the step you are in no position to insult anyone.
Currently, we are all taking it up the ass. The only difference between the people on this board and elsewhere is that we aren't enjoying it, but we do very little to stop it.
It can't be stopped. They only have a choice of which path they take to destruction. It won't matter if anyone stands up or not. Bad things are happening, it will get worse.
"And the politicians felt safe enough to approve it so they certainly don't fear for their lives from an angry populace with empty bank accounts."
It kinda makes sense. The people who were fleeced were people with savings, the majority of people have little or no savings. The majority of voters are dependent on some form or other of Govt entitlements. So lets say it happened in the US and Barry fleeces the savers bank accounts and protects the takers, Who do you think will win an election?
"...SOMEWHERE, SOMEONE will stand up and say enough..."
Yeah, we killed all those dudes off in WWII.
Sorry.
So all their money is gone, and now the EU is gonna loan it back to them?
Sounds fair.
pods
This time it comes with a free leash and a gag ball.
Not quite - the people's money is gone, and the EU is going to loan the banks that took it some money.
Oh, and then the banks can loan it back to the people?
Economics is confusing sometimes.
Until I study it intently for hours it just seems like a screwjob.
pods
No, the banks will be forced to buy sovereign debt as they do in Spain and Italy. It's not surprising since folks are driven into increasingly riskier moves when values gets screwed up.
you'll know the next country in line for the firing squad by the one whose banks will be loaded up to the gills in Cypriot sovereign debt.
Maybe thses idiots will learn that casino economy doesn't work. They need to be conservative like DEUTSCHE BANK
DERIVATIVE TRADING 25 to 1 TO TOTAL GDP
IS THAT SO HARD?
Solution: Gov steps in and orders the Casino to unwind the Derivatives thus...
1. Devalue all valuations by 98% (just they devalued the dollar in the last 100 years). All these "side bets" are gonna be "fire sales".
2. Pay off residual debts on devalued Derivatives from cash and real assets.
Then...
3. Ban HTF and Derivatives market, beyond basic and direct Futures of Commodities
4. Re-anchor currency to PM at X %. X = 100% would be nice, but X=40% is acceptable.
5. Grow/shrink the money supply with the Real GDP, not the current version of Voodoo-GDP
6. If the Money Supply is tied to the Real GDP, it automatically means that the MIC is tied to a (short) leash, and empire building happens by natural consensus (market adoption of goods, services, practices and standards), rather than by blackmail & force. Swords --> Plowshares. Battleships --> Spaceships.
Here all week. Try the salad.
Kirk out.
Yup...lots of sheep. They deserve what's coming.
This is actually good. It will give us something to watch when the NBA Finals are done.
Well, in due time we're going to see if any will defy the EURO in southern Europe...I rather doubt it...all the calls are being made behind the curtain...it looks like to me that Europe and America have been absorbed by the blob and no longer have the energy to resist...
"triple digit unemployment"
I LOL'd
Love the .gif. It took me a second to see what was going on down there.
So, I suppose everyone thinks the Cypriots should have grown some cojones and did an 'Iceland'?
Except that still makes Iceland MFSOBs. Just what is the difference between stealing from one side and stealing from the other? It's still stealing other people's money.
No, it means someone loaned Iceland money they should not have loaned. That is why there is risk, and counterparty risk. Are you saying we should get rid of bankruptcy law too?
What is amazing is to read the expat community reactions to the Cyprus Mail articles, ridicluzing the few Cypriots who dare to suggest to leave the Euro. They blame everything on the country. It was mismanaged yeah, like your country at home. Can't wait for those arrogant jerks, who think they know it all but have 0 political or finance culture, to be Cyprus'ed as well. They will probably be the most violent when the Troika comes to their own country...
Welcome to 'Indentured Servitude', you idiot Cypriots.
Didn't Iceland just throw out more of their politicians over the weekend?
Just some of the ones that were getting too big a hard-on about maybe joining the EU....
DAMN THE TORPEDOS!! FULL RETARD AHEAD!
Cyprus ... the european equivalent of a baboeshka doll unpacked one time to much.
Why are the politicians and banksters not swinging?
This is a fucking joke. How far can they push people before these said people react and force violence down their throats?
I am sickened by this, this is by definition indentured servitude.
Fucks sake, fight back Cypriots, what the fuck you got to lose?
I'm shocked! Shocked I say that the scumbag political class will suck the banker dick.
And how is that DemoCrazy working out for ya? The most effective form of tyranny is when people think they are free, at least under monarchs the people knew the government was not their friend.
The most effective form of tyranny is when people think they are free, at least under monarchs the people knew the government was not their friend
excellent.
The citizens of Iceland didn't steal from anyone. Their banks admittedly did, but Iceland has actually prosecuted banksters. Anyone else do that?
I'm guessing most Americans look back at the American War of Independence and think, if we did it, anyone else can. What they fail to add to the equation is that the world is a much smaller place in 2013 and the Americans physical detachment from the UK was the overiding factor in their success way back then. Hence, Americans have until more recently, always had an air of invincibility, 'cos aggressors could never get near enough to harm them.
Cyprus doesn't have that.
I hope those who supported the 27 votes against madness will produce a list of names and photos of the 29 who voted for madness and print off some good ol'
WANTED - Dead or Alive posters to hang around the streets of Nicosia. Traitors deserve nothing less.
As always with politics, most likely 55 or 56 of the politicians could have been bought off but the banks are very efficient and bought only the bare minimum needed.
Does this include the sale of Cyprus gold?
Buy 1 (parliamentarian), get 1 (400 oz bar) for free!
Cyprus demo-serfs disappoint again.
Hang 'em
Welcome to serfdom, bitchez!
And sanctioned with a democratic vote hahaha
+$85B for "Triple digit unemployment' and for "Stockholm Serf Syndrome" (SSS).
SSS is poised to become a franchise, and has branches in US test markets (NY, Boston, Detroit, Chicago). Now also in CO and CT, but also coming to Kansas and Texas real soon, is the plan.
Soon we all get to play the "Feudalism 2.0" game.
Citizens of Cyprus :
Your savings, for which you have worked hard, spent judicially and managed to accumulate, are no longer yours. How you can access them and spend them will now be decided by those who have contributed hardly anything positive to the society, not saved a penny, infact borrowed money to spend on itself in the form of high salaries and luxuries perks, which has now to be repaid by you : Your Government.
P.S. If we are successful in doing so in Cyprus, we intend to replicate this privledge with savers around the world as it is the duty of the citizens of the country to support the governments in whatever idiocy they do.
http://www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in
"We had to destroy the village in order to save it."
'Zactly, man. We had to vote for it to find out what they were proposing.
overwhelmingly mixed
Long live the Banks.
The people of Cyprus will be better off with this kick the can philosophy. Most probably have less than $5K in the bank and at $100/day they can withdraw it by mid-summer and leave the country looking for work as seen in other PIIGS. Those in power will be left with a broken shell of an economic mess but they will have been able to recover some and pull out the rest of it before the looting begins which is all they want here -- time.
Got no guns in Cyprus what did you expect harsh language to work.
This is the order of things in the real world.
Guns.
Money.
Words.
Love.
Pretty cheap for Mario and Ben. They only had to buy 29 votes... I hope the 29 who voted in favor of this spend their bribe money soon, as the Russians now take their turn...
When things get serious, its time to lie....Irish Central Bank governor Honahan.
Time to take your money out of Irish Banks, especially AIB (Allied Irish). When Honahan lies through his teeth about Cyprus its time to get your fiat out of the auld sod...
http://www.reuters.com/article/idUSBRE93T0FK20130430?irpc=932
Whichever way the Cypriots voted the future would still be very painful. The difference would however be the end result.
IMHO the Euro will eventually fail and the efforts of all these nations to abide by austerity measures will largely come to nil apart from any real structural changes they might be able to make.
In the meantime both Cyprus and the rest of the world seem to defy predictions of total collapse which initially fascinates me but ultimately worries me about the extent of the final explosion.
as i predicted, cypriots are no icelanders. it's a mediterranean thing.