My bank account's got robbed by European Commission. Over 700k is lost.

[solex]

QE and OMT are money printing schemes. Printing USD and EUR and buying troubled assets (government bonds and mortgage backed securities) which enriches the banks. The banks buy stocks with the money (which is why the DOW is booming). The money doesn't enter the real economy so in theory this should not lead to high inflation. *IN THEORY*  

What is breaking down from 2007, caused the credit crisis, and continues today, is a slow-motion collapse of Fractional Reserve Banking. The multi-decade expansion of this leveraging system has substituted as most of the "real" GDP growth in Western countries since manufacturing itself started collapsing in the 1970s and 1980s, being replaced by the FIRE economy and entitlement benefits. FRB is responsible for 95% of the money supply but has hit systemic limits in debt-servicing by consumers, households, companies and now governments. Money printing (QE^infinity, OMT and similar monetization of debt) is just enough to maintain the status quo. Printed money does enter the real economy, hence real inflation is fairly high (check out WTI lately). The stock market has none as sideline money is a myth: for every dollar in there is a dollar out, so it is merely a measure of corporate asset valuation, sentiment, and inflation expectations.

[Kazu]

zeroday when you moved your money, did you have to convert it to USD? What if these "tax havens" are only in place to devalue the Euro, by having everyone convert them to USD?

Yes it's true. All of EUR is now converted into USD.
Usually there are no euro accounts in offshore banks.

BTW, as I know, billions of russian and east-european oligarchs' capitals, that escaped Cyprus robbery and capital control, are now migrated to Belize banks.

Out of curiosity who has these banks?

I mean, like, whoever manages these banks' money can probably do a lot. Tax Haven Bank Accounts are estimated to have 30 Trillion dollars. The value in these accounts could be used to buy all of ORCL (Servers), T (service provider using those servers), aapl (hardware needing that service), goog (software running on that hardware), fb (site viewed on that software), amzn (vendor of item purchased using advertisements displayed on that site), V (allows user to pay for that item), fdx (shipper of that item), F (manufacturer of the vehicle used by that shipper), xom (provider of energy used to power that vehicle), and TSLA (to hedge just in case F's model is outdated). Talk about a vertical monopoly.

And thats just less than half of the money in those bank accounts.

So yea, I sorta want to know who manages the money in these banks.

[zeroday]

I suppose that those billions in offshore banks are only small part of their (oligarchs') capitals. The most of their wealth is usually in different stable investment funds managed by Americans.
Anyway, Europe is now missing these enormous capitals. But who knows, may be EU doesn't actually need it as they are always able to print necessary amount of EUR.

[Keldel]

People don't realise how risky it is to hold your savings in USD or EUR until it's too late....

[CasinoBit]

Rob a bank and get a life sentence, rob a whole nation and get a nobel prize in economics or become a politician.

[tinus42]

Rob a bank and get a life sentence, rob a whole nation and get a nobel prize in economics or become a politician.

Or a Nobel Peace Prize even though one escalates wars in the MENA.

[CasinoBit]

Rob a bank and get a life sentence, rob a whole nation and get a nobel prize in economics or become a politician.

Or a Nobel Peace Prize.

"Nobel Peace Prize"

http://www.youtube.com/watch?v=5rXPrfnU3G0

[wachtwoord]

Rob a bank and get a life sentence, rob a whole nation and get a nobel prize in economics or become a politician.

Or a Nobel Peace Prize.

"Nobel Peace Prize"

http://www.youtube.com/watch?v=5rXPrfnU3G0

Yes, the Nobel peace price has zero meaning. If it had meaning they would have awarded it to Assange (may be jointly with Manning) instead of the European union. I mean, last year it was a no contest decision right?

[tinus42]

Rob a bank and get a life sentence, rob a whole nation and get a nobel prize in economics or become a politician.

Or a Nobel Peace Prize.

"Nobel Peace Prize"

http://www.youtube.com/watch?v=5rXPrfnU3G0

http://www.youtube.com/watch?v=s6-2b_3Dmxw

[Carlton Banks]

Yes, the Nobel peace price has zero meaning. If it had meaning they would have awarded it to Assange (may be jointly with Manning) instead of the European union. I mean, last year it was a no contest decision right?

Manning - yes, a genuinely courageous advocate for freedom and truth

Assange - There are too many aspects of Assange's behaviour that don't quite fit the mold: he adheres to the laughable mainstream 9/11 narrative for instance, and that is an odd stance from a proclaimed exposer of truth who has a high capacity for critical analysis, particularly one that hasn't got much to lose. I have no credible explanation as to why, only that it's a strange position for someone like him to take. He doesn't just believe the nonsense mainstream narrative, but actively condemns the logical interpretations of 9/11

[wachtwoord]

Yes, the Nobel peace price has zero meaning. If it had meaning they would have awarded it to Assange (may be jointly with Manning) instead of the European union. I mean, last year it was a no contest decision right?

Manning - yes, a genuinely courageous advocate for freedom and truth

Assange - There are too many aspects of Assange's behaviour that don't quite fit the mold: he adheres to the laughable mainstream 9/11 narrative for instance, and that is an odd stance from a proclaimed exposer of truth who has a high capacity for critical analysis, particularly one that hasn't got much to lose. I have no credible explanation as to why, only that it's a strange position for someone like him to take. He doesn't just believe the nonsense mainstream narrative, but actively condemns the logical interpretations of 9/11

Nobel peace price is supposed to increase the amount of non-war in the world right? Well, many people are freaking retarded and don't understand that war is gory and disgusting. Showing this people what disgusting shit actually goes down at least some of them will stop supporting wars resulting in at least a slight reduction of the amount of non-peace in the world.

No-one in the world I know deserves it more so the alternative is not handing the prize out at all.

[cr1776]

Bug a hotel room at the Watergate Hotel in DC, get impeached.  Bug an entire nation and the entire World, get a Nobel Peace prize.

Rob a bank and get a life sentence, rob a whole nation and get a nobel prize in economics or become a politician.

[infested999]

BTW, as I know, billions of russian and east-european oligarchs' capitals, that escaped Cyprus robbery and capital control, are now migrated to Belize banks.

east-european oligarchs are the best! http://youtu.be/0c4f4NJSB_4?t=2m48s

[narayan]

This is why Bitcoin will take over the world. Good money drives out bad.

[Carlton Banks]

Yes, the Nobel peace price has zero meaning. If it had meaning they would have awarded it to Assange (may be jointly with Manning) instead of the European union. I mean, last year it was a no contest decision right?

Manning - yes, a genuinely courageous advocate for freedom and truth

Assange - There are too many aspects of Assange's behaviour that don't quite fit the mold: he adheres to the laughable mainstream 9/11 narrative for instance, and that is an odd stance from a proclaimed exposer of truth who has a high capacity for critical analysis, particularly one that hasn't got much to lose. I have no credible explanation as to why, only that it's a strange position for someone like him to take. He doesn't just believe the nonsense mainstream narrative, but actively condemns the logical interpretations of 9/11

Nobel peace price is supposed to increase the amount of non-war in the world right?

I used to believe that, but now I'm not so sure. I understand Kissinger won the prize, and yet strangely he cannot travel to various states throughout the world for fear of arrest for war crimes. Seems a bit politicised, as prizes go.

No-one in the world I know deserves it more so the alternative is not handing the prize out at all.

Well, maybe that would be a useful message in it's own right: to say that no-one really deserves it right now, even the pretenders to the throne are tainted. But I wouldn't be so cynical really, like I said, Manning has a rightful claim to it in my eyes. But maybe there should be a new prize, I'm not sure whether Alfed Nobel would have been particularly pleased to see his legacy used as it has.

[wachtwoord]

I always have found it odd to use Nobel for non-exact 'sciences' such as literature and 'peace'. At the same time there is no Nobel prize for Computer Science* which is odd.

* Computer science could be seen as a sub field of mathematics, but is not, so it's currently uncovered.

[conspirosphere.tk]

they are at it for much more:

Global Looting: The New EU Bailin Law Was Passed 11 Days Ago….Did You Notice?
http://ragingbullshit.com/2013/08/11/global-looting-the-new-eu-bailin-law-was-passed-8-days-ago-did-you-notice/

[cr1776]

Given that, one needs to remember then to keep your balance at all the banks well below the insured amounts.  If you need to have multiple accounts and/or accounts outside the EU to do so, that would be prudent.  The problem there is that as of now it doesn't appear that the EU (or US or ...) would aggregate accounts from different banks and only insure the amount of to the limit (e.g. 90,000 at 10 different banks combined would be over the limit), but I would not put it past the power-hungry politicians to do so at some point if needed.

So, definitely put some money into Bitcoin, gold, silver etc.  The power-hungry, control freak politicians are not to be trusted.  They will do whatever they can do line their own pockets.

edit:  And by "well below" I mean REALLY, really far below given the controls put in place for even under the guarantee amounts in Cyprus.

they are at it for much more:

Global Looting: The New EU Bailin Law Was Passed 11 Days Ago….Did You Notice?
http://ragingbullshit.com/2013/08/11/global-looting-the-new-eu-bailin-law-was-passed-8-days-ago-did-you-notice/

[Carlton Banks]

Given that, one needs to remember then to keep your balance at all the banks well below the insured amounts.  If you need to have multiple accounts and/or accounts outside the EU to do so, that would be prudent.  The problem there is that as of now it doesn't appear that the EU (or US or ...) would aggregate accounts from different banks and only insure the amount of to the limit (e.g. 90,000 at 10 different banks combined would be over the limit), but I would not put it past the power-hungry politicians to do so at some point if needed.

So, definitely put some money into Bitcoin, gold, silver etc.  The power-hungry, control freak politicians are not to be trusted.  They will do whatever they can do line their own pockets.

they are at it for much more:

Global Looting: The New EU Bailin Law Was Passed 11 Days Ago….Did You Notice?
http://ragingbullshit.com/2013/08/11/global-looting-the-new-eu-bailin-law-was-passed-8-days-ago-did-you-notice/

Additionally, I'd start a mattress-based savings account too, only a small one though Always useful to have cash, even if it's just for a temporary crisis and not only "OMG it's the end" type scenarios

[cr1776]

Good point.  If 1% of the citizens of the EU (and US etc) bought one bitcoin each, it would be a smart move to protect themselves.

Given that, one needs to remember then to keep your balance at all the banks well below the insured amounts.  If you need to have multiple accounts and/or accounts outside the EU to do so, that would be prudent.  The problem there is that as of now it doesn't appear that the EU (or US or ...) would aggregate accounts from different banks and only insure the amount of to the limit (e.g. 90,000 at 10 different banks combined would be over the limit), but I would not put it past the power-hungry politicians to do so at some point if needed.

So, definitely put some money into Bitcoin, gold, silver etc.  The power-hungry, control freak politicians are not to be trusted.  They will do whatever they can do line their own pockets.

they are at it for much more:

Global Looting: The New EU Bailin Law Was Passed 11 Days Ago….Did You Notice?
http://ragingbullshit.com/2013/08/11/global-looting-the-new-eu-bailin-law-was-passed-8-days-ago-did-you-notice/

Additionally, I'd start a mattress-based savings account too, only a small one though Always useful to have cash, even if it's just for a temporary crisis and not only "OMG it's the end" type scenarios