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Author Topic: Is Cyprus a test?  (Read 1010 times)
stan.distortion
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March 19, 2013, 09:54:03 PM
 #1

...

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March 20, 2013, 12:12:55 AM
 #2

The global banking empire was so arrogant that they thought they could just steal their money without any substantial resistance. They figured they already had the Cyprus government in their pockets and did not expect resistance.

Thankfully the people stood united and their MP's probably thought that another Iceland was going to happen to them (which I expect it would have).

Cyprus will hopefully get out of the disgusting corrupt fiat and be able to fix their economy, but it's not over yet...

http://www.guardian.co.uk/world/2013/mar/19/cyprus-rejects-eurozone-bailout-savings-tax
instaBoost
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March 20, 2013, 06:00:15 AM
 #3

Yeah a test alright.. Howmuch money can we steal before people get pissed off

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March 20, 2013, 06:23:29 AM
 #4

The "test" is not yet over. Angry nazi-chancellor-bitch continues pressuring and threatening this small but brave country.
All banks in Cyprus are now closed and outward money transfers are frozen until next Tuesday.


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March 20, 2013, 06:26:58 AM
 #5

Maybe this is the secret weapon in the currency war; a clever way to devalue the Euro without raising foreign criticism?


 
 
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instaBoost
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March 20, 2013, 09:09:28 AM
 #6

Maybe this is the secret weapon in the currency war; a clever way to devalue the Euro without raising foreign criticism?

well tptb are failing the later miserably...

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March 20, 2013, 11:21:06 AM
 #7

This Cyprus thing makes no sense to me, if there was a "Bank runs for dummies" it could feature as an example. Now the news is their parliament have refused it so they have until Thursday morning to pillage the vaults. Why would such panic inducing news be released if it was still born? Could it be a test to see where the money goes? And why doesn't the forum have a tinfoil hat section?

im so glad someone pointed this out. I was thinking something similar but along these same lines. Here is my line of reasoning.

Why on earth would they only take 10%? after they take 10% people are going to wake up and pull their resources out of the banking sector. When they do this the government will be unable to orchestrate any more effective bank holidays in the future. SOO if you are going to have a bank holiday you pretty much get 1 shot at it. Why then wouldnt the government, knowing they will only have 1 opportunity to bank holiday, only take 10%?

i dont know the answer to this question, all i know is that i smells something fishy.

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March 20, 2013, 04:36:26 PM
 #8

Originally, DE finance minister suggested to expropriate 40% of the savings on each Cyprus bank account. I wonder why not 100% if politicians already had experience in seizure of funds in the past.

1933 - Jewish assets seized by Nazis funded 30 percent of WWII expenses.
2013 - Cyprus assets to be seized to finance WWIII ?

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March 20, 2013, 04:56:16 PM
 #9

The bank run will be stopped officially by introducing laws that prevent anyone withdrawing more than a nominal amount a day - its been done elsewhere.
What they won't be able to stop is what people do with that money once its out of the banks.

That means that the most sensible option is to convert it to a whole range of useful stuff - from bitcoins to gold, silver, beans and oil

Once it's physical, the EU can't touch it.

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March 20, 2013, 07:16:12 PM
 #10

The "test" is not yet over. Angry nazi-chancellor-bitch continues pressuring and threatening this small but brave country.
All banks in Cyprus are now closed and outward money transfers are frozen until next Tuesday.



Are you kidding me? Germany is trying to SAVE Cyprus from going bankrupt, and the people of Cyprus, like Greece, is just expecting a hand out from Germany without any pain. This is the problem with Euro, it can't be easily inflated like the USD.

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March 20, 2013, 07:27:58 PM
 #11

The "test" is not yet over. Angry nazi-chancellor-bitch continues pressuring and threatening this small but brave country.
All banks in Cyprus are now closed and outward money transfers are frozen until next Tuesday.



Are you kidding me? Germany is trying to SAVE Cyprus from going bankrupt, and the people of Cyprus, like Greece, is just expecting a hand out from Germany without any pain. This is the problem with Euro, it can't be easily inflated like the USD.
There is a lot of truth here. Sure Cypriots are having their money taken by the banksters, but Germany, having a stable economy, is looked to as a cash cow. My German friends are tired of Europeans demanding Euros to prop up their unsustainable economies. Like it or not, the binge is over. The bills are now due and the world must pay up. Those were not free lunches you have been eating for the last 40 years.

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March 20, 2013, 09:49:46 PM
 #12

The "test" is not yet over. Angry nazi-chancellor-bitch continues pressuring and threatening this small but brave country.
All banks in Cyprus are now closed and outward money transfers are frozen until next Tuesday.



Are you kidding me? Germany is trying to SAVE Cyprus from going bankrupt, and the people of Cyprus, like Greece, is just expecting a hand out from Germany without any pain. This is the problem with Euro, it can't be easily inflated like the USD.

In my view, things are simpler than that. Germany* does not give a shit about any other country and that's to be expected. Neither Italy or Greece gives a shit about anyone else. In the big-boys game, decisions are driven by carefully planning short term gains in various fields. In Democracy the most important thing for a corrupted or professional politicians (as the officials who run the countries all over the Eurozone), is to be re-elected. There are elections in Germany to be held. The official narrative by the national media pundits, backed by the coalition (as of this week indirectly but now directly) says that good German is paying for the sins of the Southern Europeans! That's of course half the truth, as it often happens in these situations, every side chooses to paint in bold the part of the truth that makes him look bold.

To cut it down, I firmly believe, that if this was 2012 Cyprus would be saved with a bailout of 6BL (which is a ridiculous price to pay for "saving" the EU) but there are elections in Germany and Merkel has to make a point: Germans will not pay anymore for bad bad bad PIIGS + C.

Truth is that the German government and the EBC has raped Greece even making money out of Greek bonds, not accepting ANY sort of reduction to the bond price. Last time it made 17 Bil. EUR out of Greece. That's a pure rape. As for Germany's money, they go to Greece, recycle and go back to Greek Bond-Holders which mostly are French and (yes exactly... ) GERMAN banks. What good old fashioned German banks tried and some still trying desperately to do, is sell (at a good possible price) Greek bonds to the government. Recently they accepted a haircut but it was at least half of what it should have been. Greece has defaulted but since it's politicians (and population) apparently prefer to die than to get out of the Euro, German banks are still making money out of corpses.

The rhetoric that German wanted to save the EURO is true: As Cyprus economy is based on a superfluous banking sector, German economy is based on exports. Germany (via EURO) was making sure that Italians, Spaniards (and other pigs) were able to take credit and buy BMW's and Mercedes. Once these countries leave the EURO they will get back to their good old currency which will be devalued so much... Then bye-bye exports. If aliens on the Moon or Chinese (which is ridiculous) do not start buying massively German products, I foresee a hard time for Germany. So YES Germany wanted to save the Euro, but didn't give any loan, or made any sort of move the did not totally and utterly suited the local elites. They didn't give a shit about the social death of Greece (Nazi's are at 14% in pools and it's partly Germany's policy direction that made it happen), they didn't give a shit about Italy - even the remarks about 2 clowns winning the ballots were utterly stupid, selfish and arrogant - or Spain.

Spain and Italy would be much more easy to handle if they were not able to see what happened in Greece and while Greece had Papandreou who committed political suicide (and for what? Greece has 30% unemployment, corruption is rampant as always, suicidal rate is the biggest in Europe and the HDI is going 2 position down every year) and flew away. So no one in Italy or Spain was eager to follow the same path. In Italy Monti tried and we'll never hear from him again.

My prediction is that Germany has already decided to end the Euro. They are looking for a scapegoat, because they have an already awfully bad reputation and don't want to be the country the finally ended the Euro.

And to give dues where we should, France is equally responsible for the current situation. The lack of leadership throughout Europe, at a political level is astonishing. Leaders all over Europe are treated like shit by local and foreign bankers. At some point a collision will come and it won't be with foreigners, although social discomfort is on the raise (I don't want to know how many Germans are preparing for vacations in Southern Europe this year, they will be far less welcomed and same goes for Southerns planning to go North), the bankers are still free-riding.

Oh! that was a long one :-)

Cheers!

* When I say "Germany" I mean specifically the Government coalition.
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March 20, 2013, 11:56:01 PM
 #13

Yes Cyprus is a test.
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March 23, 2013, 12:53:48 AM
 #14

Dont think tese people are after bitcoin, russians, serbian, belarus, moldova, bulgarian, romanian etc... "bussinesmen" are hard currency people

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March 23, 2013, 01:01:39 AM
 #15

It very complex mess. With various countries and their politicians playing for both national and international(EU level) personal goals. They want both look good in their nations by playing though and getting gains and on other hand I believe they are corrupt and try to get EU jobs by making pro EU choices.

Too many players, too many goals. And everyone plays for own team or for oneself... And unworkable system. A quick crash and debt reset might have fixed problem for a while...

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March 23, 2013, 01:07:05 AM
 #16

Yes, politics plays a major rôle too. "It's not just the economy, stupid."

The sooner the EU(SSR) collapses, the better.

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March 23, 2013, 02:46:02 PM
 #17

I wonder how many Eurodollars Cyprus would need to buy enough bitcoins to default on their debts, leave the Euro, make their depositors whole, and become the first BTC nation?

Cyprus' population (1 million) is roughly only 1/7000th of the entire world (7 billion). So if all the bitcoins were evenly distributed amongst the world's population the Cypriots current fair share would be 1/7000 of 11 million coins = 1571 bitcoins for the enitre country!

According to the market depth on Mt Gox they could acquire 1600 bitcoins for the paltry sum of 88,000 eurodollars. Now let's say they want their fair share of all 21 million bitcoins that would cost them 170,000 eurodollars for about 3100 bitcoins. Hey, let them go crazy and put in a safety factor of 8! They could buy 8 times their fair share for about 1.4 million eurodollars.

Crisis solved for the Cypriots.

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