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Russian Bank Halts All Cash Withdrawals

Tyler Durden's picture





 

It would appear the fears of a global bank run are spreading. From HSBC's limiting large cash withdrawals (for your own good) to Lloyds ATMs going down, Bloomberg reports that 'My Bank' - one of Russia's top 200 lenders by assets - has introduced a complete ban on cash withdrawals until next week. While the Ruble has been losing ground rapidly recently, we suspect few have been expecting bank runs in Russia. Russia sovereign CDS had recently weakned to 4-month wides at 192bps.

 

Via Bloomberg,

Lender has introduced complete ban on cash withdrawals until end of week, news agency reports, citing unidentified person in call center.

 

Bank spokeswoman declined to comment by phone

 

My Bank is top 200 lender by assets: Prime

 

NOTE: Central bank has revoked about 30 banking licenses since July 1 when Elvira Nabiullina succeeded Sergei Ignatiev as governor, compared with three in the firt half of the year

Interestingly, Russia's biggest lender Sberbank has seen a 8.7% rise in deposits in December... it seems the Russian's are realizing that bank deposits are nothing more than risky loans to highly levered entities...

 


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Tue, 01/28/2014 - 10:54 | Link to Comment youngman
youngman's picture

Oh Oh..I hope Snowdon got paid in Bitcoin

Tue, 01/28/2014 - 10:58 | Link to Comment camaro68ss
camaro68ss's picture

top 200 banks?? Meh

Tue, 01/28/2014 - 11:05 | Link to Comment TeamDepends
TeamDepends's picture

Commence PM smackdown in 3 2 1....

Tue, 01/28/2014 - 11:27 | Link to Comment Dark_Horse
Dark_Horse's picture

More reason to diversify holdings with off-book assets.

Dark_Horse

Tue, 01/28/2014 - 11:30 | Link to Comment krispkritter
krispkritter's picture

Perspiring Russian minds want to know; is the Ruble rubble? This could be trouble.

Tue, 01/28/2014 - 11:34 | Link to Comment Gankfest
Gankfest's picture

It's going down... Everywhere!

Tue, 01/28/2014 - 11:37 | Link to Comment fonestar
fonestar's picture

Get down...

fonestar get on up!

Tue, 01/28/2014 - 11:45 | Link to Comment gmrpeabody
gmrpeabody's picture

I can only assume, Tyler, that you verified this story...

EDIT:  A thousand pardons..., you are merely reporting what Bloomberg is reporting.

Tue, 01/28/2014 - 12:06 | Link to Comment Deo vindice
Deo vindice's picture

Could it be that they are wanting to keep extra cash in reserve for the tourists at the Olympics?

They certainly wouldn't want people from all over the world having problem getting local currency.

Tue, 01/28/2014 - 12:24 | Link to Comment Atlasshruggedme
Atlasshruggedme's picture

Google translate and google maps does show a "??? ????" (My Bank) in Sochi. I am sure they will make allot of money via conversion fees.

Tue, 01/28/2014 - 12:27 | Link to Comment kliguy38
kliguy38's picture

It seems they can't trot out the "hack attack" again.......;-)

Tue, 01/28/2014 - 13:52 | Link to Comment HoofHearted
HoofHearted's picture

Is it a stock problem or a flow problem with them?

I would vote for the solvency issue...

Tue, 01/28/2014 - 13:35 | Link to Comment Tim_
Tim_'s picture

My Bank News 22.12.2013

Can anyone here read Russian?

Starting last month, it looks like the daily ATM withdrawal limit was 20,000 rubles ($574), and there was a waiting period of one week for a cash withdrawal over 100,000 rubles ($2,870). It looks like the $3,000 limit came right out of a playbook.

My Bank's site states that the restrictions should have been lifted by now.

Tue, 01/28/2014 - 12:36 | Link to Comment tocointhephrase
tocointhephrase's picture

Get down....as we run the race...darkside undergound n its bass..I'm gonna rock, im gonna rave...move to the beat n feel no way...

 

MC DET 

LMFAO what an MC...good times...remember those?

http://www.youtube.com/watch?v=JVd_JERA9ck

 

Wed, 01/29/2014 - 07:28 | Link to Comment limit_less
limit_less's picture

You have to wonder what the plan is.

In Greece you have the government telling people have faith in the banks, put your money in and yet the same government is saying they will start taking money out of bank accounts to pay alleged tax arrears.

You have the same in the UK. Banks need recapitalisation, they need to clean their balance sheets, and yet you see stories which only make people wary of putting money in the bank.

And now Russia

So the central banks and the money centre banks want/need money just not from depositers.

It is almost as if they like being in a hole because they can demand money from government rather than having to make all those pesky loans which leads to all that extra paperwork and risk. 

Much easier and more profitable to buy polticians and blackmail governments.

Tue, 01/28/2014 - 12:06 | Link to Comment fonestar
fonestar's picture

Perspiring minds?

Have you tried my new high-cryptose bitsyrup?

Tue, 01/28/2014 - 11:34 | Link to Comment fonestar
fonestar's picture

...such as Bitcoin.

Tue, 01/28/2014 - 11:48 | Link to Comment swmnguy
swmnguy's picture

Slowly I turned...

Tue, 01/28/2014 - 13:29 | Link to Comment cougar_w
cougar_w's picture

Niagara Falls!

Tue, 01/28/2014 - 14:11 | Link to Comment Keyser
Keyser's picture

Step by step...

 

Tue, 01/28/2014 - 12:14 | Link to Comment geminiRX
geminiRX's picture

Yah, how long will the Internet be turned on for in a global bank run? So much for bit coins.

Tue, 01/28/2014 - 12:26 | Link to Comment fonestar
fonestar's picture

Good luck with your global power outage and end of the internet bullshit moron.

 

BREAKING UPDATE:

 

fonestar has just registered the fonestar.bit domain so all of his fans here can stay updated with all of the most current bitshitshow information you probably do not need to know in these virtual troubled times.

Tue, 01/28/2014 - 12:36 | Link to Comment geminiRX
geminiRX's picture

Capital controls douche.... They can do to bit coin what was historically done to gold

Tue, 01/28/2014 - 12:49 | Link to Comment fonestar
fonestar's picture

The whole point of Bitcoin is to avoid capital controls dumbass.

Tue, 01/28/2014 - 13:06 | Link to Comment gmrpeabody
gmrpeabody's picture

That is correct..., computers and e-commerce are very secure.

Oh, wait...

Tue, 01/28/2014 - 13:09 | Link to Comment fonestar
fonestar's picture

Correct.  Probably the strongest, most critical and redundant structure ever created by mankind on Earth.

Tue, 01/28/2014 - 13:23 | Link to Comment geminiRX
geminiRX's picture

Digital currency is coming - it just won't be yours, sorry. In Canada, if you asked the average consumer if they wanted a Federal Mintchip - or volatile bit coin, they would likely choose the Mintchip.

Tue, 01/28/2014 - 13:25 | Link to Comment fonestar
fonestar's picture

Mintchip is a stillborn.  Bitcoin is already here you pathetic .gov fanboy.

Tue, 01/28/2014 - 14:13 | Link to Comment Keyser
Tue, 01/28/2014 - 14:23 | Link to Comment fonestar
fonestar's picture

I'm not going to give Joe Weisenthal any page count by clicking on that.

Tue, 01/28/2014 - 15:51 | Link to Comment Lore
Lore's picture

...But you'll happily troll here.

Wed, 01/29/2014 - 07:31 | Link to Comment limit_less
limit_less's picture

The UK already uses a virutal currency. No one carries cash.

Tue, 01/28/2014 - 15:25 | Link to Comment KnightTakesKing
KnightTakesKing's picture

So you have no worries that Obama and the NSA won't activate the Internet "kill switch" when it suits them?

Tue, 01/28/2014 - 15:31 | Link to Comment fonestar
fonestar's picture

No in fact, fonestar does not believe in an internet "kill switch".  

Maybe Obama's "kill switch" looks like this.....

 

http://www.youtube.com/watch?v=ckIMuvumYrg

Tue, 01/28/2014 - 15:59 | Link to Comment Spanky
Spanky's picture

Oh massah. May I pleeease post something on ZH? You've been here for yeeears. And oh, your powerful virtual presence... I prostrate myself in the glare of your virtual awesomeness.

Prove the bitcoin crypto unbreakable, fonestar.

Bitcoin: NSA technology wrapped in a USN onion. Fingerprints at the scene of the crime.

Tue, 01/28/2014 - 12:42 | Link to Comment Spanky
Spanky's picture

Well, why don't you just mosey on over to your new fonestar.bit domain and leave the rest of us alone. If telling everyone bitcoin exists is your appointed task, you've accomplished that here. We know about bitcoin's existence. You'll stay only if your task is to continuously push the bitcoin meme, 'cause that's one of the ways propaganda works -- continuous repetition of a meme (or lie). But then I figure you know that fonestar. What's your NSA sub-contract worth?

Tue, 01/28/2014 - 12:49 | Link to Comment fonestar
fonestar's picture

Haha... yeah the NSA is actively working to destabilize the US Dollar you fucking conspiratard simpleton.  It's dipshits like you that throw egg all over the face of valid, well founded research into conspiracies.

Tue, 01/28/2014 - 13:38 | Link to Comment Spanky
Spanky's picture

Yeah, it's responses like this that tell us all we need to know about you, and by extension, bitcoin.

Answer the question fonestar: How long did it take the FBI to gain access to the Silk Road wallet? Unbreakable crypto you say?

Tue, 01/28/2014 - 13:41 | Link to Comment fonestar
fonestar's picture

The cryptography is unbreakable, humans are breakable you frigging idiot.

Tue, 01/28/2014 - 14:12 | Link to Comment Spanky
Spanky's picture

Keep telling yourself that fonestar: The cryptography is unbreakable... Care to prove it?

Tue, 01/28/2014 - 14:20 | Link to Comment fonestar
fonestar's picture

Hey Spanky member for 33 weeks fonestar has been here for years now!  

So why don't you take your dog shit off my lawn and go somewhere else where you can spew pro-gov FUD???

Tue, 01/28/2014 - 14:41 | Link to Comment Spanky
Spanky's picture

Gee fonestar, if longevity on ZH is the criteria, well.. perhaps I ought leave before I start raving like you.

[Edit]

Answer the question: Prove the bitcoin crypto is unbreakable...

Or will you just spew more bullshit?

Tue, 01/28/2014 - 14:41 | Link to Comment dogbreath
dogbreath's picture

yeah, your one of the elder statesmen of fightclub, sure.   Douchebag

Tue, 01/28/2014 - 14:43 | Link to Comment fonestar
fonestar's picture

You're damn right fonestar is.  

Zerohedge is a pro-Bitcoin website.

Tue, 01/28/2014 - 15:31 | Link to Comment Miffed Microbio...
Miffed Microbiologist's picture

A lot of cackling, moaning, whinging, whining, foaming and wild gesticulations does not make a spokesman or statesman. It just makes you a noisy, persistent irritant.

Miffed;-)

Tue, 01/28/2014 - 16:43 | Link to Comment dogbreath
dogbreath's picture

ZH is REDPILL.   I would doubt that the Tylers would support you in your assertion that fightclub is pro bitcoin.  If anthing ZH is place to inform yourself about BTC and in relation to money, currency and the financial markets generally.   Nobody has to shill for gold as it has a proven historical track record.   Fiat also has its proven historical track record.   BTC on the other hand does not but that doesn't mean we aren't paying attention.  

You Douchebag, I mean Dronestar come here and keep banging the tulip drum.   Your nonstop drivel is identical in style to notorious ZH trolls JonnyBravo and MasterBates and others.   You have likly recieved more cumulative junks than any other member.   I am now certain that you will dissapear just like BTC.  

Tue, 01/28/2014 - 17:15 | Link to Comment fonestar
fonestar's picture

You think fonestar will disappear?   That is the funniest thing I have heard all year!

Tue, 01/28/2014 - 17:26 | Link to Comment dogbreath
dogbreath's picture

Trolls come from nowhere and disappear to nowhere, some just hang in there a little longer but they  still leave.  I'm glad you  think I am funny because I think I speak for many that think you are a fool or idiot = not funny

Tue, 01/28/2014 - 17:47 | Link to Comment Miffed Microbio...
Miffed Microbiologist's picture

Some here are but walking shadows, poor players
That strut and fret their hour upon the stage
And then are heard no more. It is a tale
Told by an idiot, full of sound and fury, signifying nothing.

And others are learned, experienced and intelligent and I am glad they are here to share their wisdom and perspective. I am grateful to them for the time they have given freely. Unfortunately to find a truffle,one must dig through mounds of dirt. ZH has been a lesson of patience for me for I tend to have little.

Miffed;-)

Tue, 01/28/2014 - 17:43 | Link to Comment Spanky
Spanky's picture

I believe you fonestar. Gotta earn those NSA sub-contract payments.

Tue, 01/28/2014 - 19:48 | Link to Comment jerry_theking_lawler
jerry_theking_lawler's picture

Hey FS....got you beat on ZH time....so, newbie, STFU about Bitcoin....why can't you just say Bitcoin Bitchezzz and then move on.??.

Wed, 01/29/2014 - 07:34 | Link to Comment limit_less
limit_less's picture

The problem with crypto-currencies is that it is easy to create a new one if the others are too expensive. The market is going to be staurated to the point of Fiat. A gold/silver backed crypto is the ultimate.

Tue, 01/28/2014 - 13:27 | Link to Comment Bill of Rights
Bill of Rights's picture

All of your fans? Everyone of them?

Tue, 01/28/2014 - 13:38 | Link to Comment fonestar
fonestar's picture

My fans are divisible into 1,000,000 fins (or fantoshi).

Tue, 01/28/2014 - 13:46 | Link to Comment Bill of Rights
Tue, 01/28/2014 - 13:31 | Link to Comment silverserfer
silverserfer's picture

Your legions of fans. now thats some funny shit. 

more like our shit hittting your fan of reality and spraying you with a dose of bit-shit. bits 

 

Tue, 01/28/2014 - 14:01 | Link to Comment Crash Overide
Crash Overide's picture

"fonestar has just registered the fonestar.bit domain so all of his fans here can stay updated with all of the most current bitshitshow information you probably do not need to know in these virtual troubled times."

Is that like bread and circus? 

 

Stay gold fonestar, and think bigger. Bitcoin is peanuts compared to the rise of rebuilt inter webs and 3D printers in terms of game changers all though BTC has a role for now.

A few examples:

http://www.wired.com/wiredenterprise/2014/01/ethereum/

http://www.businessinsider.com/3d-printer-builds-house-in-24-hours-2014-...

http://www.washingtonsblog.com/2013/10/giants-fight-back-against-nsa-spy...

http://www.techdirt.com/blog/wireless/articles/20140104/02234525765/wire...


Tue, 01/28/2014 - 12:31 | Link to Comment geminiRX
geminiRX's picture

In fact one morning within the next year or two, I expect zerohedge and all other financial news sites to be inaccessible, along with any possible way for capital to flee (I.e bit coin exchanges, gold/silver sites). Probably the only thing the gov will allow your cash to flee is bonds and stocks but only US market

Tue, 01/28/2014 - 13:09 | Link to Comment fonestar
fonestar's picture

I expect intelligent people to still have internet access, distributed dns to thrive and Bitcoin and Litecoin to rise massively in value.

I expect unintelligent people will still be holed up in their basements and engaging the Walmart indians in firefights.  Life is what you make it.

Tue, 01/28/2014 - 13:34 | Link to Comment silverserfer
silverserfer's picture

you know I picture you as a fat stephen hawking type. Without the brains just the drool and diaper.

Its over for you if the power goes out isint it? 

Tue, 01/28/2014 - 13:45 | Link to Comment fonestar
fonestar's picture

I know I am cowering thinking about that global power outage man!  The last one went on for decades!!

Tue, 01/28/2014 - 13:53 | Link to Comment AgentZeroM
AgentZeroM's picture

Good thing hard drives retain their blockchains while the power's out!

Tue, 01/28/2014 - 14:00 | Link to Comment fonestar
fonestar's picture

....or yeah, when every drive and database on Earth crashes.  That's even scarier!

Tue, 01/28/2014 - 14:16 | Link to Comment Keyser
Keyser's picture

Fuck me. You not only drank the koolaid, you bought the farm too, hook, line and sinker. FFS, diversify. Yeah, I own bitcoin. So what. It's just another investment vehicle. Not the only one. 

 

Tue, 01/28/2014 - 12:17 | Link to Comment PT
PT's picture

You see, by halting cash withdrawals, you can still buy and sell stuff but 100% of the money is in some bank somewhere 100% of the time so they can still count it as, as an asset (??????  I know that technically it is a "liability", assuming the bank actually pays interest and the interest is greater than the fees they bring in), perform their accounting and rehypothecating shenanigans, and ensure that the games last one more day.  But what are they going to do tomorrow?  Every day they need to find a new magic trick to perform.

The carcass is dead.  It has been tied to the back of the ute and pretty soon only rope will be left. 

Wed, 01/29/2014 - 07:38 | Link to Comment limit_less
limit_less's picture

How about this. They let anyone set up a bank which can print its own paper currency backed by whatever the bank wants to use.

Tue, 01/28/2014 - 11:18 | Link to Comment RemiG2010
RemiG2010's picture

We should send that 'flying squirrel' to Moscow and ask him. By the way... This year he got paid in snow! A lot of it....

If it was snowing like that in the Middle East every year, they all would have been RICH! Obscenely RICH!

Tue, 01/28/2014 - 12:05 | Link to Comment The-Dirty-Scurd
The-Dirty-Scurd's picture

New executive orders today will include "retirement security" in the form of buying treasuries.

Tue, 01/28/2014 - 14:32 | Link to Comment cro_maat
cro_maat's picture

$75 B / mth from the Fed doesn't sop up enough Treasuries that are being dumped so they will dump them in 401ks for the unwashed masses and tell them that they now have a retirement account!! LOL! As that ponzi scheme grows they will then start reducing EBT / Medicaid and raising the Social Security age explaining that everyone is rich with paper from a bankrupt government. Oh and everyone that wants to get a new Fed sponsored 401(k) with worthless paper will need to be outfitted with an RFID chip. Got to keep them plates spinning.

Tue, 01/28/2014 - 11:13 | Link to Comment Gringo Viejo
Gringo Viejo's picture

My Bank my ass! I want my fuckin' money!

Tue, 01/28/2014 - 11:36 | Link to Comment fonestar
fonestar's picture

I never even have to ask for it, nevermind yell or bang pots.

Tue, 01/28/2014 - 12:50 | Link to Comment Spanky
Spanky's picture

Tell me fonestar, how long did it take the FBI to get access to the Silk Road wallet after they seized it?

Tue, 01/28/2014 - 12:52 | Link to Comment fonestar
fonestar's picture

I'm not even sure they have DPR's private keys.  And if they do, there will be plenty of eager buyers if .gov is dumb enough to sell them.  If they were smart they might save them and try leverage them in future situations but I doubt it.

Tue, 01/28/2014 - 14:06 | Link to Comment digi
digi's picture

One person doesn't secure their stash properly, therefore all stashes must be unsecurable? I don't think so.

Tue, 01/28/2014 - 14:20 | Link to Comment Spanky
Spanky's picture

Really? That's the best you can do? I would have thought the founder of Silk Road, established for the purposes of facilitating illegal transactions in the world drug market, might have had a bit more technological sophistication... esp. if he hoped to maintain both his freedom and (ill-gotten) wealth.

Tue, 01/28/2014 - 19:00 | Link to Comment Matt
Matt's picture

Oh FFS, the guy had a day planner with entries in it for checking up on the status of assassinations, mixed in with his grocery list.

Wed, 01/29/2014 - 07:51 | Link to Comment limit_less
limit_less's picture

They have access to the bitcoins? If so it is the first time I here that

Tue, 01/28/2014 - 12:53 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

I refer to the Bank of Certa & Sealy as "My Bank".

Safe, secure*, discrete Private banking. No fees or haircuts. Funds available 24/7, with no daily limits or having to explain where you got it from, or what you plan to do with it.

* Determined by the care you take in deciding whom you let into your bank, as they may decide they share account ownership. ;-)

Tue, 01/28/2014 - 19:02 | Link to Comment Matt
Matt's picture

Your bank may be exposing your deposits to undue risk of fire.

Tue, 01/28/2014 - 11:22 | Link to Comment fonestar
fonestar's picture

Oh Oh..I hope Snowdon got paid in Bitcoin

 

bit... bit coin?  

Tue, 01/28/2014 - 11:23 | Link to Comment fonestar
fonestar's picture

BITCOIN!!

Tue, 01/28/2014 - 11:25 | Link to Comment Levadiakos
Levadiakos's picture

Money version of Electraglide

Tue, 01/28/2014 - 11:33 | Link to Comment fonestar
fonestar's picture

Bitcoin is the greatest thing ever, bar none.

Tue, 01/28/2014 - 11:42 | Link to Comment ThirdWorldDude
ThirdWorldDude's picture

You really need to get out of that basement some day and see the immense beauty that Nature's created out there...

Tue, 01/28/2014 - 11:46 | Link to Comment fonestar
fonestar's picture

Yes, that's right.... another thread that had nothing to do with Bitcoin hijacked and ruined by your friendly neighbourhood fonestar.

Tue, 01/28/2014 - 12:56 | Link to Comment Levadiakos
Levadiakos's picture

Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin Bitcoin

Tue, 01/28/2014 - 13:14 | Link to Comment fonestar
fonestar's picture

Now you're getting it!  It's nice to see fonestar's hard work starting to pay off!

 

 

BITCOIN! BITCOIN! BITCOIN!

Tue, 01/28/2014 - 13:32 | Link to Comment Bill of Rights
Bill of Rights's picture

You're a Legend in your own mind.

Thu, 01/30/2014 - 09:33 | Link to Comment PT
PT's picture

IMHOTEP  IMHOTEP  IMHOTEP ...

http://www.youtube.com/watch?v=TAiiJYeUwfM 

 

(For those deprived people who have never seen it, "The Mummy")

Tue, 01/28/2014 - 11:45 | Link to Comment swmnguy
swmnguy's picture

Antibiotics are prettty cool.  Fire.  Pants pockets.  I'm partial to food and water, myself.  And, living in the northern US, shelter.

But sure, I see the cleverness of Bitcoin.

Tue, 01/28/2014 - 12:23 | Link to Comment nightshiftsucks
nightshiftsucks's picture

No man,my penis is the greatest thing ever.

Tue, 01/28/2014 - 12:28 | Link to Comment fonestar
fonestar's picture

mightier than the sword?

Tue, 01/28/2014 - 14:03 | Link to Comment swmnguy
swmnguy's picture

+1

Nice play.

Tue, 01/28/2014 - 12:47 | Link to Comment Agent P
Agent P's picture

"Bitcoin is the greatest thing ever, bar none."

You're just saying that because you haven't had sex yet. 

Tue, 01/28/2014 - 13:30 | Link to Comment pods
pods's picture

He doesn't like sex because his first time was scary:

It was dark, cold, and he was all alone.

pods

Tue, 01/28/2014 - 13:04 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Friendly tip: you may want to use some of that Bitcoin to buy the book "How to Win Friends and Influence People".

For whatever reason, your comments have gone from Informative to... Alienating.

In case you think that there are a lot of fools/ignoramuses posting, consider this, before feeling ' compelled' to respond: Arguing with a fool is a bit like mud-wrestling with a pig. Pretty soon, you realize that the pig is enjoying himself. ;-)

Kirk out.

Tue, 01/28/2014 - 14:24 | Link to Comment superflex
superflex's picture

He never heard that arguing on the internet is like competing in the special olympics.  Even if you win, you're still retarted.

Tue, 01/28/2014 - 13:42 | Link to Comment silverserfer
silverserfer's picture

dont let your mom see you typed that or you will NOT be getting a bath tonight fonestar. She is #1!!!!!!

Tue, 01/28/2014 - 12:34 | Link to Comment Millivanilli
Millivanilli's picture

Bitcoin is a ponzi based off a ponzi.   When the original gangsters see it has infringed on its turf bitcoin will be shot in a back alley and the pumpers like you will abandon their accounts.   

 

Just wait.

Tue, 01/28/2014 - 13:04 | Link to Comment fonestar
fonestar's picture

Bitcoin doesn't offer promises of returns and Bitcoin does not require new adopters.

Tue, 01/28/2014 - 12:04 | Link to Comment The Vineyard
The Vineyard's picture

Surrounded by all this tragedy.  And yet the sun keeps shining.  What's a boy to do?

Tue, 01/28/2014 - 12:13 | Link to Comment fonestar
fonestar's picture

Play Warcraft and trade on BTC-E.

Tue, 01/28/2014 - 13:46 | Link to Comment Spanky
Spanky's picture

Well, besides spamming this forum, at least we know what you do all day.

Tue, 01/28/2014 - 13:52 | Link to Comment fonestar
fonestar's picture

fonestar is a disruptive technology.

Tue, 01/28/2014 - 14:44 | Link to Comment Spanky
Spanky's picture

Bitcoin is based on NSA technology.

fonestar is merely full of...

Tue, 01/28/2014 - 19:06 | Link to Comment Matt
Matt's picture

Is that the same guy who used to end all his blog posts with "Fuck Lloyd Blankfein"? The writing seems similar, especially "praying to the Christ God", but without the Oh, and Fuck Lloyd Blankfein" at the end.

Tue, 01/28/2014 - 12:30 | Link to Comment Millivanilli
Millivanilli's picture

Vlad is getting gangraped with Ukraine and terrorism- Sochi.    Maybe all that barebacked horse riding has softened up the catchers mit,.   

 

Looking forward to the Olympics, though.  Hopefully it won't open with a bang.

 

NHL Could Reevaluate Sending Players To Sochi For Olympics, Some Players Elect To Leave Families Home It's my party and I'll cry if I want to- the vladettes.
Tue, 01/28/2014 - 13:09 | Link to Comment cdevidal
cdevidal's picture

I could find no validation of this on Bloomberg or any other site outside ZeroHedge. I think we've been snookered.

Tue, 01/28/2014 - 13:15 | Link to Comment Lead Balloon
Lead Balloon's picture

The banksters are revolting.

Tue, 01/28/2014 - 19:06 | Link to Comment Matt
Matt's picture

But are they rebelling?

Tue, 01/28/2014 - 10:54 | Link to Comment LetThemEatRand
LetThemEatRand's picture

Good thing that China story was a hoax.

Tue, 01/28/2014 - 10:55 | Link to Comment Spanky
Spanky's picture

May you live in interesting times. -- old Chinese curse

Tue, 01/28/2014 - 11:23 | Link to Comment Levadiakos
Levadiakos's picture

It will take 40 years and $100 billion to clean up Fukashima

Tue, 01/28/2014 - 11:35 | Link to Comment Overfed
Overfed's picture

I think you're underestimating both of those numbers by at least an order of magnitude.

Tue, 01/28/2014 - 12:13 | Link to Comment Spanky
Spanky's picture

It's time to build another pyramid, with boron burial chambers.

Tue, 01/28/2014 - 11:16 | Link to Comment IridiumRebel
IridiumRebel's picture

How does someone say "trial balloon" in Russian and Chinese?

Tue, 01/28/2014 - 11:45 | Link to Comment Ban KKiller
Ban KKiller's picture

Good thing that China story was a hoax....No, story released too early. 

Emerging markets are suffering from the war against their "money". You have "money"? We will print more, more, more until your "money" is worth....LESS. I mean until OUR money is worth less then we pay you back in cheaper FRNs. Ta-da! 

Tue, 01/28/2014 - 10:57 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Rather than the traditional dominoes all lined up, the situation looks more like this.

Bigger and Bigger

Tue, 01/28/2014 - 11:00 | Link to Comment IridiumRebel
IridiumRebel's picture

The last BIG three dominoes are Bundesbank, Citi and HSBC in no particular order....

Tue, 01/28/2014 - 11:13 | Link to Comment debtor of last ...
debtor of last resort's picture

You mean Deutsche Bank.

Tue, 01/28/2014 - 11:17 | Link to Comment IridiumRebel
IridiumRebel's picture

I often confuse my Zombie Banks....

Tue, 01/28/2014 - 12:46 | Link to Comment AG BCN
AG BCN's picture

I thought we agreed it was to be known as Douche Bank. 

Tue, 01/28/2014 - 11:17 | Link to Comment Levadiakos
Levadiakos's picture

At least Jamie's bonus is safe. That's all we care about.

Tue, 01/28/2014 - 12:26 | Link to Comment nightshiftsucks
nightshiftsucks's picture

Yeah because he earned it fair and square,at least that's what atomic waste head thinks.

Tue, 01/28/2014 - 13:39 | Link to Comment Winston Churchill
Winston Churchill's picture

Stole it ,fair and square.

FIFY

Tue, 01/28/2014 - 11:24 | Link to Comment Central Wanker
Central Wanker's picture

The biggest one is the Federal Reserve.

Tue, 01/28/2014 - 11:36 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

all makes perfect sense...

Dow rallying....

Gold Silver phony paper prices falling...

Fucked up State of The Union Address on tap...

yeap, all is normal and well...

Tue, 01/28/2014 - 11:00 | Link to Comment NoDebt
NoDebt's picture

I didn't know Ben Bernanke looked like that while he was attending Central Bank Training University.

Tue, 01/28/2014 - 11:03 | Link to Comment Agent P
Agent P's picture

Is that Jake, from State Farm?

Tue, 01/28/2014 - 11:48 | Link to Comment gmrpeabody
gmrpeabody's picture

What are you wearing..., Jake, from State Farm?

Tue, 01/28/2014 - 12:41 | Link to Comment TuesdayBen
TuesdayBen's picture

uuuhhhmmmeerrrrr... khakis.

Tue, 01/28/2014 - 11:14 | Link to Comment Dr. Venkman
Dr. Venkman's picture

While not as suspenseful, it would be more enjoyable (for me) to see that big domino crush the others. Or maybe a grand piano falling on top of them all from the rafters.

Tue, 01/28/2014 - 11:13 | Link to Comment Son of Captain Nemo
Son of Captain Nemo's picture

Do the smallest three represent the "Twin Towers" and Building 7?

Tue, 01/28/2014 - 11:30 | Link to Comment Levadiakos
Levadiakos's picture

Obama's Black Ops have removed 2 of the only 3 people in this country able to make LSD. People we are so FUCQED!

Tue, 01/28/2014 - 12:53 | Link to Comment Son of Captain Nemo
Son of Captain Nemo's picture

Who "down arrowed" me?  Is that you Larry that -^?!  You stinkin little Zionist Jew Devil!!!

Collectively between the U.S. Britain, Israel and Saudi Arabia, they have made enough interest on the "war on terror", through rape theft and murder across the Middle East and now Africa to build a "Tower" as big as the largest one in this picture.  With that said.  Why is the Freedom Tower so fucking small and not more of an ambitious project given ALL THE MONEY thats been made since 2001.  I' would think the Freedom Tower would be at least 10 times bigger than the "Twins"... Come on???

 

 

Wed, 01/29/2014 - 13:54 | Link to Comment Hugh G Rection
Hugh G Rection's picture

Larry Silverstein, Dov Zakheim and Michael Chertoff*

How dare you slander the banksters holy zio war of terror!  Did you expect them to let some ragheads trade oil in gold, or not have a zio run central bank???

All wars are bankers wars: http://www.youtube.com/watch?v=5hfEBupAeo4

Tue, 01/28/2014 - 10:57 | Link to Comment One And Only
One And Only's picture

*BREAKING: JPM HALTING TRANSFERS AND WITHDRAWALS UNTIL EARLY NEXT WEEK* BBG

Tue, 01/28/2014 - 11:07 | Link to Comment Dewey Cheatum Howe
Dewey Cheatum Howe's picture

Well in the Baltics they are.

http://www.baltic-course.com/eng/finances/?doc=85704

JPMorgan Chase & Co, which has been told by U.S. regulators to bolster money-laundering safeguards, has stopped clearing dollar transfers for Latvian lenders, the Bloomberg business news agency reports, cites LETA.

 

...

U.S. regulators have reprimanded lenders including JPMorgan for lax controls over transfers that could allow terrorists and drug rings to move money around the world.

 ...

The exit of the U.S.’s largest bank leaves Deutsche Bank AG and Commerzbank AG as the only two Western lenders Latvian banks can use for international dollar transfers. New York-based JPMorgan declined to comment on Bicevskis’s remarks. "Deutsche" and "Commerzbank" declined to comment on the potential effect on their businesses due to JPMorgan’s absence.

...

And when compliance officers for HSBC warn the CIA and State Department over lax controls for transfers of money to known terrorist entities nothing happens, no reprimands or people going to jail. Looks like the brown people are not important enough to follow your own fucking rules anymore.

http://rt.com/shows/sophieco/banks-globe-stream-economy-875/

Terrorism funding just one thing big banks are getting away with - whistleblower Everett Stern

 

 

 

Tue, 01/28/2014 - 11:12 | Link to Comment RobD
RobD's picture

Check this out, those fuckups at JPMChase don't want my money anymore. My mortgage was bought by JPMChase about a year ago and though I fucking hate it I have been paying the damn thing on time every month(Cheaper then renting). Well last week I get a letter from JPMChase with my Jan payment check in it with a letter saying it was not enough money to pay off my loan. I give them a  call and nobody can't figure out why my account has been flagged and my check returned. Called yesterday and my account is still flagged though I received my Feb payment coupon for twice the usual amount.  Should be interesting if my next check is returned.

Tue, 01/28/2014 - 11:13 | Link to Comment youngman
youngman's picture

Blackrock must want your house.....

Tue, 01/28/2014 - 11:20 | Link to Comment Levadiakos
Levadiakos's picture

Is there still one they don't own?

Tue, 01/28/2014 - 12:28 | Link to Comment nightshiftsucks
nightshiftsucks's picture

If I ever lose my house I'm going to clear everything out and let my kids have the biggest party ever.

Tue, 01/28/2014 - 14:21 | Link to Comment LMAOLORI
LMAOLORI's picture

 

 

You were probably just being funny?  I would never leave anything worse then when I found it to me it would be a matter of pride in myself - I taught the same thing to my children. Children learn what they live.  Having said that this (below) is bad those foreclosed properties drive down real estate values for others. The banks don't keep them up.  In the small town I live on the outskirts of we had a really bad one (it's a really small town less than 200 people) and our little council kept sending letters to the bank with no reply. I got sick of it so I called our county health inspector had a chat with him, sent him pictures of it and he sent them a letter telling them it was a human health hazard and they had 15 days to get it cleaned up and they got it cleaned up.

Gundlach Counting Rotting Homes Makes Subprime Bear

snip...

“These properties are rotting away,” Gundlach, 54, said last week on a conference call with investors, about homes stuck in foreclosure pipelines, adding that it could take six years to resolve defaulted loans made to the least creditworthy borrowers before the real-estate crash.

Tue, 01/28/2014 - 11:14 | Link to Comment swmnguy
swmnguy's picture

Document everything.  Get a lawyer.  If you can refinance to a local credit union, do it this instant.  They're setting you up to take your house.  If caught, they'll just claim incompetence, but by then you'll be in the chipper.  I might be somewhat alarmist, but they can outlast you.

Tue, 01/28/2014 - 11:30 | Link to Comment chunga
chunga's picture

Yes, this is good advice.

This smells like a setup - there must be equity - and somebody wants the house and/or the default insurace.

Watch out!

Tue, 01/28/2014 - 11:33 | Link to Comment krispkritter
krispkritter's picture

I got into this with Green Tree.  A lot of what I read on the web looked like the good loans lenders were required to sell them with the bad loans were being picked on if there was a lot of equity in the property, mine included.  I finally went to the State and provided them all the info and voila!  Green Tree backed off.  I already had a lawyer in the wings though.  Predatory Lenders changed their MO and are just that...

Tue, 01/28/2014 - 11:40 | Link to Comment Overfed
Overfed's picture

Green Tree just bought my mortgage, now I know what I can look forward to...

Tue, 01/28/2014 - 12:00 | Link to Comment krispkritter
krispkritter's picture

Google 'Green Tree Sucks', you won't be disappointed.  You'll have to tread carefully with them but I advise getting away from them at all costs if possible.

Tue, 01/28/2014 - 12:02 | Link to Comment swmnguy
swmnguy's picture

Run.  Run like a mofo.  Not sure how a mofo runs, but give it your best attempt.

I had a neighbor who worked at Wells Fargo mortgage until about 2005.  He was the guy people called when they got foreclosure notices.  Around 2004 he told me the average person who called him was about 26 months behind on their mortgage!!!?!  Anyway, he told me how Wells would get them to make partial payments, deduct scads of penalties and fees, hold their checks until just after the "late" day of the month, add on more fees etc., so even though the people were paying, they were counted as going further and further into the hole.  They would especially do this to people who had equity, who had already paid through the front-loaded early years so Wells had already collected the interest and origination fees.  They'd string it out as long as possible, collecting more and more money while crediting less and less of it to the loan.  By the time they actually did foreclose, the poor sap had been sucked dry.  He'd paid as much as he would have just making the mortgage payments, so Wells had made their money, but on paper, the person was years behind. Wells got their money, and then got to resell the house.  Of course, they had already sold off the mortgage on the secondary market, often, and then there were all the derivatives.  It was a license to print money, fleece borrowers, and then seize their asset.  My neighbor quit shortly afterward.  He got out just before he got fired,for not selling enough credit cards and other financial services to these people whose houses and money Wells was taking from them.

This was in 2004.  And it was Wells Fargo.  I can't even imagine the depths of scumbaggery Green Tree is up to today.

When I first bought a house in the mid '90s, my mortgage got sold 3 times in 4 years. Each time, a few months later, I got notified that my escrow was all screwed up and my insurance was going to be cancelled.  That would have put me in violation of the terms of my mortgage, of course.  Each time, I called the mortgage company, and they tried to tell me it was the insurance company's fault for not telling them whom to pay, and there was nothing they could do.  WTF?  I finally hit on the solution of telling them I was taking notes because my next call was to the Minnesota Commerce Commission.  Et Voila, it suddenly all got taken care of.  Since I've moved my mortgage to a local credit union, not one problem ever.

Do whatever you have to do to get your mortgage into some small bank or CU that doesn't re-sell their mortgages.

Tue, 01/28/2014 - 12:51 | Link to Comment El Vaquero
El Vaquero's picture

I know, I know, it's HuffPo, but it is news about Wells Fargo's scumbaggery:

 

http://www.huffingtonpost.com/2012/04/09/elizabeth-magner-new-orleans-we...

 

Me personally, I would be happy about a mortgage that has been sold and resold, because I know how to make the court system work in my favor, but for most people, you're right, they'll be fucked by this shit. 

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