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Author Topic: A bank is a business...  (Read 620 times)
Realpra
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April 08, 2013, 08:36:53 AM
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People keep blaming the EU for the Cypress mess, but without the EU these banks would have no money and NO ONE would get ANYTHING back.

Now there may be flaws with fiat, but this isn't one of them. You put money in a defunct business you loose, you think anyone will help you if you loose money in a BTC bank? Nope, same exact thing.

The guy with the Hitler Merkel should have a picture of her as freaking Jesus.


You pay a bank to keep your money safe and to handle your money, its your own problem what happens if you do no research.

Would infinite bailouts really be better than free markets being free to remove bad banks and punish their ignorant clients?


The EU kinda made the right call here I have to say.

What they should do next is create their own bank that does nothing other than store, send and receive digital euros with 0 leveraging.


I would still believe more in Bitcoin of course, but I think everyone has this Cyprus thing backwards.

That is all.

Cheap and sexy Bitcoin card/hardware wallet, buy here:
http://BlochsTech.com
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There are several different types of Bitcoin clients. Hybrid server-assisted clients like Electrum get a lot of their network information from centralized servers, but they also check the server's results using blockchain header data. This is perhaps somewhat more secure than either server-assisted clients or header-only clients.
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JimiQ84
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April 08, 2013, 08:38:39 AM
 #2

People keep blaming the EU for the Cypress mess, but without the EU these banks would have no money and NO ONE would get ANYTHING back.

Now there may be flaws with fiat, but this isn't one of them. You put money in a defunct business you loose, you think anyone will help you if you loose money in a BTC bank? Nope, same exact thing.

The guy with the Hitler Merkel should have a picture of her as freaking Jesus.


You pay a bank to keep your money safe and to handle your money, its your own problem what happens if you do no research.

Would infinite bailouts really be better than free markets being free to remove bad banks and punish their ignorant clients?


The EU kinda made the right call here I have to say.

What they should do next is create their own bank that does nothing other than store, send and receive digital euros with 0 leveraging.


I would still believe more in Bitcoin of course, but I think everyone has this Cyprus thing backwards.

That is all.

Cyprus banks were used to save Greece. That's the flaw in current euro-crisis which everyone is pointing at.
union
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April 08, 2013, 09:09:33 AM
 #3

Its a point of view... here is another:

The euro turned every eurozone country into a corporation without their (the countries) knowledge,
since they are forced to finance themselves in a "free" market, just like, and competing with, normal corporations.

In theory there is nothing wrong with this, in practice none of the southern countries were ready to "behave" like a corp.
There is too much inefficiency, corruption, etc... and there are always some sectors of society that need to be subsidized (unemployment, social security, etc) which is contrary to behaving like a corp that only has profit in mind (the eco-system we are living in right now).

Big financiers saw this as an opportunity to make money and started shorting the "southern" countries "stock", causing it to fall through the floor and getting rich in the process...

If the other countries (the theoretically rich ones) don´t support the small ones, the whole thing collapses... (which is not necessarily a bad thing!)

I think the problem is... most of these EU countries still don't understand that to succeed in this environment they need to BE corporations...
But if they behave like corporations, the people will revolt... because they just see their "money" flying off to bing banks in exchange for nothing... really.

However, its not the people's fault, they trusted their banks and politicians... and that trust was abused!

Here is my opinion: if your country is a corporation that was screwed by the market...
Just close it, and re-open under a new "management", getting rid of all the pseudo-debt in the process!

Screw the corporations! Tongue

Some things should no be handled by central markets,
as they can be easily abused (mtgox ddos anyone? - sell high, ddos-panic, buy low)
or... some people should bo be allow to buy/sell in the market...

Union
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