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Author Topic: Capital controls in Europe, RUSSEL 5000 at record high P/E, Japan close Bankrupt  (Read 1723 times)
countryfree
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April 01, 2015, 02:29:22 PM
 #21

■In France and Italy they already start doing capital controls.

Where did you get this information?

http://www.sovereignman.com/trends/more-capital-controls-as-france-declares-war-on-cash-16658/

http://www.zerohedge.com/news/2015-03-23/fighting-war-terror-banning-cash

http://www.davidicke.com/headlines/tag/capital-controls/

http://www.businessinsider.com/capital-controls-leak-in-greece-is-about-internal-politics-2015-2

In Italy i guess it's not formally announced yet, however I had an aqaintance who has a factory in Italy and tried to wire transfer 250.000€ back to Switzerland and the bank wouldn't let him, they now started an investigation on him, which will last atleast 6 months (althougn he is a nice guy , and not involved in anything dirty, so this investigation is only a "facade" , they disguised CAPITAL CONTROL into some bogus AML investigation  Tongue)

The EU zone is in deep shit now, they want to freeze all money inside it and then loot it all after the boat sinks Smiley

ZeroHedge?

David Icke?

Those are your sources of information?!

Plus, a limit for cash transactions is not capital controls, your little anecdote also not credible information....

When you arrive at an airport in France, there's a warning that the maximum sum you can legally carry is €10,000. Also, if you go to a French bank, the people there will look at you with suspicious eyes if you want to withdraw more than €1,000 cash.

If you're looking for a trading/lending place,
better avoid Poloniex, as it socializes losses.
Learn more about it on this topic.
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April 01, 2015, 06:42:07 PM
 #22

Same thing in the USA if i deposit more than $6,000 the IRS is informed. At the airport $10,000 is most you can carry and withdrawing more the 5,000 with out a business account they ask a lot of questions.
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April 01, 2015, 09:12:31 PM
 #23

Those are all anti fraud/anti tax evasion/anti money laundering measures, not exactly what we usually call capital controls, you can still use all your money, just not all payment methods are available, if you want to call that capital controls that's fine.

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April 01, 2015, 10:37:19 PM
 #24


Dude, I want bitcoin to be successful as much as the next guy here, but I'm not gonna listen to crackpots and/or some obscure tabloids.

Those kind of prophets of the apocalypse always existed and they always have something to sell you, and they are always wrong!
David Icke? The alien reptilian elite guy? Seriously?

I know that he has those theories aswell, i`m not buying those obviously.

However I think that on the economy he is right. Atleast read the article objectively.

It's an illusion if you dismiss the article just because he had some weird theories in the past.

 As I told judge the article not the man writing it.

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April 01, 2015, 10:42:15 PM
 #25


When you arrive at an airport in France, there's a warning that the maximum sum you can legally carry is €10,000. Also, if you go to a French bank, the people there will look at you with suspicious eyes if you want to withdraw more than €1,000 cash.

Same thing in the USA if i deposit more than $6,000 the IRS is informed. At the airport $10,000 is most you can carry and withdrawing more the 5,000 with out a business account they ask a lot of questions.

Yes its happening worldwide. As the global ponzi scheme of the banks collapses, they will try to block people from getting cash, and slowly loot their bank accounts.

Those are all anti fraud/anti tax evasion/anti money laundering measures, not exactly what we usually call capital controls, you can still use all your money, just not all payment methods are available, if you want to call that capital controls that's fine.

It looks like that but it isn't. It is disguised as AML rules, to prevent petty criminals from stealing 1000€? Nah its a joke.

When the real criminals already have millions of $ in their favorite politician's accounts...

Its always easy to disguise it like that but actually its capital control to restrict the herd from accesing their property, while it's slowly getting looted.

Look how many EU banks go bankrupt 1 after the other, if all of them would run on the bank the whole system would fall by tomorrow.

So they have to discourage people from accesing their ponzi investment, otherwise the ponzi scheme collapses, because thats how the global fiat economy works, its a giant ponzi scheme.

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April 01, 2015, 11:14:42 PM
 #26

+1

that's why i have retreive all my life economies in bitcoin value.
i'm not a fool.

i see the picture since the froozen law bail-in concept on december 2013 (if your bank bankrupty ... your bank account is froozen and you NEVER see your life economies = Andore for the last example but portugal/spain is a good example, too).

---

Last month, i have pay somes parts from my old car ... 1100 euros.
And you think 1000 euros is high ?

So, you don't have an accident and repair your car ?
It is more than 2000 euros now ... and gess what ? Credit Card restriction per month append for that ... Roll Eyes
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April 02, 2015, 12:49:27 AM
 #27

+1

that's why i have retreive all my life economies in bitcoin value.
i'm not a fool.

i see the picture since the froozen law bail-in concept on december 2013 (if your bank bankrupty ... your bank account is froozen and you NEVER see your life economies = Andore for the last example but portugal/spain is a good example, too).

---

Last month, i have pay somes parts from my old car ... 1100 euros.
And you think 1000 euros is high ?

So, you don't have an accident and repair your car ?
It is more than 2000 euros now ... and gess what ? Credit Card restriction per month append for that ... Roll Eyes

Ok look, the entire economy since it was decoupled from the Gold standard in the 1970 is now declining since then. Now banks just shamelessly run ponzi schemes, and call that responsible monetary policy...

Look all banks are insured obviously, there is a EU investment insurance fund which insures all bank accounts up to 100.000€ i think and 20.000€ for trading/investment accounts. I`m not sure about the exact numbers but its something like that.
And there is an equivalent in the USA, and pretty much every developed country has insurance for banks.

Ok suppose 1 bank goes bankrupt, ovviously if you had 200.000 € you are fucked, you lost half of it, and you still have to wait like 1 year until the other 100.000€ is refunded to you. So this is why they discourage people from moving big funds, by having 10% comissions on wire transfer and nasty things like that.

But what happense if all banks go bankrupt? Do you think the insurance covers them all? Fuck no, it barely covers 2-3 banks, and thats also up to 100.000€, so the insurance companies have also fractional "insurance" reserves, because they dont expect systematic collapse. They only preparte themselves for average bankruptcies, so they might charge 2-3% premium from banks, but in reality they should charge like 50-60% because the collapse is happening, of course that would annoy banks, but thats the truth.
Maybe they should not run on 0% reserves, and have 100%, then they would not need insurance Smiley

So if all banks collapse then the entire system falls down because neither the insurance companies can bail them out, neither the government tax money, and neither the Central Bank, unless they start printing alot of money , which they will....

So my guess is that they will play with the IMF a bit, because they have small leverage and can bail out central banks after they collapse, but i dont think it will last alot longers since not even the IMF can bail out the entire world, so it will most likely collapse.

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