CharlesPonzi (OP)
Member
 Offline
Activity: 98
Merit: 10
|
 |
March 27, 2013, 07:22:13 AM |
|
|
I landed in this country with $2.50 in cash and $1 million in hopes, and those hopes never left me.
|
|
|
Timbert33
Newbie
Offline
Activity: 47
Merit: 0
|
|
March 27, 2013, 08:32:26 AM
Last edit: March 27, 2013, 08:45:19 AM by Timbert33 |
|
They're only taking money from accounts that are larger than the government insures, correct?
e.g. The FDIC in the US insures accounts up to $250,000, so they would be taking money that is beyond that $250,000? In this case, it's 100,000 euros?
Just want to make sure I'm getting this right. If I am, then the people losing money are fucking idiots.
Why would you ever have uninsured money? Just split it between accounts??
|
|
|
|
|
|
thoughtfan
|
|
March 27, 2013, 08:48:49 AM |
|
They're only taking money from accounts that are larger than the government insures, correct?
e.g. The FDIC in the US insures accounts up to $250,000, so they would be taking money that is beyond that $250,000? In this case, it's 100,000 euros?
Just want to make sure I'm getting this right. If I am, then the people losing money are fucking idiots.
Why would you ever have uninsured money? Just split it between accounts??
As I understand it that's against the rules. Not saying it's not done but those who want to keep above board and declare all savings won't be saved that way. I'm not saying people keeping that much money an inflating currency in a savings account with hardly any interest aren't idiots but... |
|
|
|
|
|
inge
|
|
March 27, 2013, 01:15:54 PM |
|
Cyprus has a very peculiar political and financial situation (plus it is an island with no escape, but swimming:+)…).I don’t believe ECB will apply the same strategy to countries like Spain or Italy.
Regards, Inge
|
|
|
|
|
QueenElizabeth
Newbie
Offline
Activity: 56
Merit: 0
|
|
March 27, 2013, 01:22:04 PM |
|
Cyprus has a very peculiar political and financial situation (plus it is an island with no escape, but swimming:+)…).I don’t believe ECB will apply the same strategy to countries like Spain or Italy.
Regards, Inge
I second this - also, these situations are not comparable. Just look at the ratio between assets of the banking system and GDP. The only country that surpasses Cyprus in these terms is Luxembourg, but the situation over there is entirely different, with rock-solid government finances and most importantly large profits / insignificant share of bad assets that cannot be absorbed by the banks involved. |
|
|
|
|
OnlyGoodVibes
Newbie
Offline
Activity: 41
Merit: 0
|
|
March 27, 2013, 02:30:11 PM |
|
I'm pretty sure nobody on this forum actually understands what is happening in Cyprus.
|
|
|
|
|
josiahgarber
Member
Offline
Activity: 82
Merit: 10
|
|
March 27, 2013, 02:30:44 PM |
|
I'm pretty sure nobody on this forum actually understands what is happening in Cyprus.
Why do you say that? |
|
|
|
|
QueenElizabeth
Newbie
Offline
Activity: 56
Merit: 0
|
|
March 28, 2013, 08:45:11 AM |
|
I'm pretty sure nobody on this forum actually understands what is happening in Cyprus.
Why do you say that? I can take questions - as an economist, i.e. someone who will tell you tomorrow why yesterday we were not able to predict what would happen today. |
|
|
|
|
alexeft
Legendary
Offline
Activity: 854
Merit: 1000
|
|
March 28, 2013, 12:33:13 PM |
|
I'm pretty sure nobody on this forum actually understands what is happening in Cyprus.
Why do you say that? I can take questions - as an economist, i.e. someone who will tell you tomorrow why yesterday we were not able to predict what would happen today. Finally, someone who admits to that instead of pretending to be scientist!!! WOW!!! |
|
|
|
|
|
||bit
|
|
March 28, 2013, 12:49:55 PM |
|
|
|
|
|
|
gradient vector
Newbie
Offline
Activity: 42
Merit: 0
|
|
March 28, 2013, 05:47:50 PM |
|
Bitcoin users not affected. |
|
|
|
|
Mike Christ
aka snapsunny
Legendary
Offline
Activity: 1078
Merit: 1003
|
|
March 28, 2013, 07:28:15 PM |
|
I'm pretty sure nobody on this forum actually understands what is happening in Cyprus.
You don't sound very confident in that statement, Mr. Pretty Sure. |
|
|
|
|
Sword Smith
|
|
March 28, 2013, 08:23:19 PM |
|
Cyprus has a very peculiar political and financial situation (plus it is an island with no escape, but swimming:+)…).I don’t believe ECB will apply the same strategy to countries like Spain or Italy.
Regards, Inge
 Wow. What made you come to this forum? |
|
|
|
wachtwoord
Legendary
Offline
Activity: 2338
Merit: 1136
|
|
March 28, 2013, 08:43:56 PM |
|
They're only taking money from accounts that are larger than the government insures, correct?
e.g. The FDIC in the US insures accounts up to $250,000, so they would be taking money that is beyond that $250,000? In this case, it's 100,000 euros?
Just want to make sure I'm getting this right. If I am, then the people losing money are fucking idiots.
Why would you ever have uninsured money? Just split it between accounts??
As I understand it that's against the rules. Not saying it's not done but those who want to keep above board and declare all savings won't be saved that way. I'm not saying people keeping that much money an inflating currency in a savings account with hardly any interest aren't idiots but... The Dutch government guarantees 100k for each banking license. It is allowed to split (but some banks are owned by companies with 1 license and 1 bank has numerous licenses). I doubt they'll do the same thing in Nothern Europe. They'll just print themselves to oblivion. |
|
|
|
|
|
