Cypriot bank deposits hit in €10bn bailout

[Herodes]

According to Dutch newspapers they did it because the majority of the savings in Cyprus were from tax evading Russians and that this was the reason the European Union wouldn't bail Cyprus out directly.

Yes, and dutch newspapers always tell the truth. Can't go wrong on that one.

[alexeft]

The message is now clear, bank deposits do not belong to you but at any time the ECB can "have" them to re-allocate as they see best.

I think this is the most important observation of all and the direct apocalypse that debt based, central bank issued money does not belong to the holder but to the central bank.
So much for freedom,so much for democracy, so much for property, so much for human rights.

[alexeft]

So let me get this clear, politicians in Greece have mismanaged the country for years, and when they need a bailout, they exploit the population again, while they themselves continue to live in nice houses, have lavish lifestyles, mistresses, money in tax heavens and so on.

What should really happen is that every incompetent politician should leave office, or be put in jail for the remainder of their lives, and all their posessions should be confiscated and be used to pay off governmental help. Will never happen - power and money rule everything.

So normal people should just get bitcoins, no govt. can take 10% then. Or perhaps also get some gold and silver. This means that bank deposits are not safe. They took about 1/10th now, what if there's more problems later on, they take more, and then more problems, they will take even more....

I say, let any banks who cannot sustain themselves go bankrupt. People can live off the land if need be, they did that before the banks existed.

Greece and Cyprus are two different countries with similar problems.

[Herodes]

According to Cypriot guy comment on Reddit, the ATMs are running out of money, and they have blocked all the banking accounts 

http://www.reddit.com/r/europe/comments/1aeht8/eurozone_and_imf_agree_10bneuro_cyprus_bailout/c8wouo2

People in general is not the smartest, and of course this is something that brings on panic, it would be much smarter to collect the money in batches, and not as withdraws from bank accounts, but rather as bills sent to each bank account holder. This is stupidity beyond belief.

[Littleshop]

So normal people should just get bitcoins, no govt. can take 10% then. Or perhaps also get some gold and silver. This means that bank deposits are not safe. They took about 1/10th now, what if there's more problems later on, they take more, and then more problems, they will take even more....

Who is gonna leave any money in those banks now?  With almost no interest paid and the possibility of 10% disappearing at any time, the mattress seams safer now.  

Come next week they will find they have KILLED their banking industry and soon after anything dependent on it.  

[Herodes]

So let me get this clear, politicians in Greece have mismanaged the country for years, and when they need a bailout, they exploit the population again, while they themselves continue to live in nice houses, have lavish lifestyles, mistresses, money in tax heavens and so on.

What should really happen is that every incompetent politician should leave office, or be put in jail for the remainder of their lives, and all their posessions should be confiscated and be used to pay off governmental help. Will never happen - power and money rule everything.

So normal people should just get bitcoins, no govt. can take 10% then. Or perhaps also get some gold and silver. This means that bank deposits are not safe. They took about 1/10th now, what if there's more problems later on, they take more, and then more problems, they will take even more....

I say, let any banks who cannot sustain themselves go bankrupt. People can live off the land if need be, they did that before the banks existed.

Greece and Cyprus are two different countries with similar problems.

My bad - foruming again when tired.

[Vladimir]

http://www.bbc.co.uk/news/business-21812043

Just watch few first second of this clip. A bunch of apparatchiks coming from a meeting where they so brilliantly decided "Ohh we will just take 10% of money saved in all banks of Cyprus. Bingo! Problem Solved." Look how they are smiling and happy with themselves. These people grew up so far detached from reality. The only reason I see for them to go this route is because they have fallen for their own lies and simply unable to comprehend anymore how money actually work. They could as well have decided "let's start a snow ball of bank runs all over EU".

Edit: opps the link now shows a different video,  wow, sorry. BBC, it seems, has removed/replaced the video that showed a bunch of EU commissars smiling and happy as they get from their meeting after deciding to help themselves to 10% of money in bank accounts.  Actually 9.9%, some of them perhaps have started in marketing, 9.9% seems to be so much less than 10%.

Found it. http://www.youtube.com/watch?v=OSJRHTpKnBM  This is the video that BBC had on their website and then quietly replaced by another. It must be politically incorrect to show the shipple our unelected overlords that are happy with themselves after helping themselves for 10% of money saved in banks of a EU member country.

[Herodes]

http://www.bbc.co.uk/news/business-21812043

Just watch few first second of this clip. A bunch of apparatchiks coming from a meeting where they so brilliantly decided "Ohh we will just take 10% of money saved in all banks of Cyprus. Bingo! Problem Solved." Look how they are smiling and happy with themselves.

Politics is just and endless row of birthday parties. They have all they need in life, so they have no incentive caring for 'normal' people. In fact they have no idea what a normal life is like.

[ShadowOfHarbringer]

http://www.bbc.co.uk/news/business-21812043

Just watch few first second of this clip. A bunch of apparatchiks coming from a meeting where they so brilliantly decided "Ohh we will just take 10% of money saved in all banks of Cyprus. Bingo! Problem Solved." Look how they are smiling and happy with themselves. These people grew up so far detached from reality. The only reason I see for them to go this route is because they have fallen for their own lies and simply unable to comprehend anymore how money actually work. They could as well have decided "let's start a snow ball of bank runs all over EU".

Edit: opps the link now shows a different video,  wow, sorry. BBC, it seems, has removed/replaced the video that showed a bunch of EU commissars smiling and happy as they get from their meeting after deciding to help themselves to 10% of money in bank accounts.  Actually 9.9%, some of them perhaps have started in marketing, 9.9% seems to be so much less than 10%.

Found it. http://www.youtube.com/watch?v=OSJRHTpKnBM  This is the video that BBC had on their website and then quietly replaced by another. It must be politically incorrect to show the shipple our unelected overlords that are happy with themselves after helping themselves for 10% of money saved in banks of a EU member country.

QFT +1

[Herodes]

Vladimir: So BBC removed the video of the smiling politicians, or edited it ? What a joke.

[Vladimir]

LOL, you could just imagine a bunch of EU commissars discussing it behind closed doors:

Commisar1: Not big deal with this Cyprus thingie. We will just take 10% from all the Russian depositors and only, say 7% from all the locals.
Commisar2: Yeaha! Simple solutions are always the best. But make it 9.99% and 6.99%. Russian mafiosos are known to go mad and start shooting all the kneecaps in sight when someone takes 10% or more of their money, but anything less than 10% they would just write it off as a laundering fee and everyone will be happy.
Commisar3: Lets also make locals to fork out 6.75% to be a lil less obvious, anyway those suckers have not so much savings in their banks left and quarter of a percent here and there makes no difference anyway.
Commisar4: Perfect, we just pay 10 bils that will go direct back to our German banks the next day anyway. The rest is covered by Russians and locals.
Commisar5: Do not forget to call your buddies on Wall Street and in the City so that they buy for us and themselves a bunch of one year out calls on natural gas. Surely gasprom will make all the sheeple in EU shiver from cold this winter. Awesome, we will make a bunch on those calls and our slaves will think that damn Russians with their gasprom are at fault for doubling our cost of heating next winter.
Commisar1: OK, it is a done deal then, let's go for a dinner and celebrate the largest heist in recent banking history. Our american buddies will be green with envy once they hear about this, ha ha.

Then you have them caught on camera on their way from that meeting to an insanely expensive restaurant. Followed by a shot of propaganda signage saying: "Towards Stronger European Economic Governance".... surreal.

Disclaimer: This is a work of fiction. Names, characters, places and incidents either are products of the author’s imagination or are used fictitiously. Any resemblance to actual events or locales or persons, living or dead, is entirely coincidental.

[Vladimir]

Vladimir: So BBC removed the video of the smiling politicians, or edited it ? What a joke.

Yep. This link http://www.bbc.co.uk/news/business-21812043 contained this video  http://www.youtube.com/watch?v=OSJRHTpKnBM  a few hours ago. When I wrote the post I used a browser window with that URL that I opened a while ago. After I posted and refreshed that window I discovered that the video has been changed. Then I had to backpedal a bit and find the original video.

[Herodes]

Vladimir: So BBC removed the video of the smiling politicians, or edited it ? What a joke.

Yep. This link http://www.bbc.co.uk/news/business-21812043 contained this video  http://www.youtube.com/watch?v=OSJRHTpKnBM  a few hours ago. When I wrote the post I used a browser window with that URL that I opened a while ago. After I posted and refreshed that window I discovered that the video has been changed. Then I had to backpedal a bit and find the original video.

Yupp - I guess smiling politicians didn't fit well with the 'seriousness' of the issue. Important to keep the game face on..

[cypherdoc]

http://www.quickmeme.com/meme/3te8jo/

The funny thing is that I got transfered to a Western Union add when accessing this meme pic .
No thanks WU, I have got better options  .

i'm doing my part.  i shorted another 1000 shares of WU on Friday.  also:

"We have taken immediate measures so that electronic transfers cannot take effect before banks reopen on Tuesday," said the minister, who took office just two weeks ago."

http://online.wsj.com/article/SB10001424127887324077704578362180039767150.html

that is seriously f*cked up.  when is everybody going to realize that politicians and banksters are stealing from everyone just to keep their bonuses and risk assets propped up?

[cypherdoc]

LOL, you could just imagine a bunch of EU commissars discussing it behind closed doors:

Commisar1: Not big deal with this Cyprus thingie. We will just take 10% from all the Russian depositors and only, say 7% from all the locals.
Commisar2: Yeaha! Simple solutions are always the best. But make it 9.99% and 6.99%. Russian mafiosos are known to go mad and start shooting all the kneecaps in sight when someone takes 10% or more of their money, but anything less than 10% they would just write it off as a laundering fee and everyone will be happy.
Commisar3: Lets also make locals to fork out 6.75% to be a lil less obvious, anyway those suckers have not so much savings in their banks left and quarter of a percent here and there makes no difference anyway.
Commisar4: Perfect, we just pay 10 bils that will go direct back to our German banks the next day anyway. The rest is covered by Russians and locals.
Commisar5: Do not forget to call your buddies on Wall Street and in the City so that they buy for us and themselves a bunch of one year out calls on natural gas. Surely gasprom will make all the sheeple in EU shiver from cold this winter. Awesome, we will make a bunch on those calls and our slaves will think that damn Russians with their gasprom are at fault for doubling our cost of heating next winter.
Commisar1: OK, it is a done deal then, let's go for a dinner and celebrate the largest heist in recent banking history. Our american buddies will be green with envy once they hear about this, ha ha.

Then you have them caught on camera on their way from that meeting to an insanely expensive restaurant. Followed by a shot of propaganda signage saying: "Towards Stronger European Economic Governance".... surreal.

Disclaimer: This is a work of fiction. Names, characters, places and incidents either are products of the author’s imagination or are used fictitiously. Any resemblance to actual events or locales or persons, living or dead, is entirely coincidental.

commisars=apparatchiks=thieves

[Herodes]

So.. Cyprus now - what will be the next ? Greece ? Spain ? Portugal ?

Funny about the dude who parked his bulldozer outside one bank. I guess it would be rather tempting to just bulldoze the whole thing down:
http://www.wtop.com/681/2975963/Police-Vermont-man-crushed-cop-cars-with-tractor

[Vladimir]

So.. Cyprus now - what will be the next ? Greece ? Spain ? Portugal ?

Funny about the dude who parked his bulldozer outside one bank. I guess it would be rather tempting to just bulldoze the whole thing down:
http://www.wtop.com/681/2975963/Police-Vermont-man-crushed-cop-cars-with-tractor

you give cypriots ideas....

[Herodes]

So.. Cyprus now - what will be the next ? Greece ? Spain ? Portugal ?

Funny about the dude who parked his bulldozer outside one bank. I guess it would be rather tempting to just bulldoze the whole thing down:
http://www.wtop.com/681/2975963/Police-Vermont-man-crushed-cop-cars-with-tractor

you give cypriots ideas....

What about a bulldozing lease company forgetting to close the doors during the night, having all keys available,  then putting adresses of all those involved in the €10bn heist on a big poster on their doors, then discretly posting about it online. Now, isn't it just reasonable that there's an eye for an eye, tooth for a tooth and so on ? So bulldozing the properties of the politicians involved would seem like a great place to start.


Kids, don't do this!

[cypherdoc]

reminds me of Ireland 2010:

http://news.yahoo.com/photos/police-stand-beside-cement-truck-rammed-front-gates-photo-20101005.html

[Herodes]

reminds me of Ireland 2010:

http://news.yahoo.com/photos/police-stand-beside-cement-truck-rammed-front-gates-photo-20101005.html

I read about a protest once where a farmer ran his tractor with a tank full of shit and sprayed the local municipality HQ. I kind of giggled. The french men aren't strangers to protests either!