Topic: The Cyprus Clusterobama

[Libertas]

If "If's and but's were candy and nuts"...

 

[Pandora]

Putin and his Russian Mafia are going to make the Cypriots an offer they can't refuse .

You got that right ....

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/18_Sinclair_-_All_Hell_Is_Breaking_Loose_After_Cyprus_Catastrophe.html

Most of the deposits made by Russians are "former" KGB.   

[Glock32]

Ex-KGB agents....yeah that's just who the eurocrats want to piss off.

[Libertas]

 

[charlesoakwood]

March 31 1814, Talleyrand gave to Czar Alexander the key to  Paris.  

"I remember April" and they do too.  They want it, they want it.  They want it and the stupid SOBs are nudging them on.  I thought Merkel and her crew were smarter than this.

Who's going to march triumphant down the Champs Élysées this time?

[Weisshaupt]

Put on your tinfoil hat.   Its time to listen to Celente on Alex Jones talk about Cyprus

Gerald Celente: Cyprus Looting is Only The Beginning for Global Elite

[John Florida]

Your on.

   

[Pandora]

An hour plus?  Summary, please?

[Libertas]

What Pan said.  I got ADD, or is it CRS. . .er whatever. . .

[Libertas]

More info via ZH:

http://www.zerohedge.com/news/2013-03-19/what-does-no-vote-mean-cyprus-and-eurozone

If the EU was serious about cracking the whip, they would let bankruptcy take its course, but the Greek lesson is that fear of contagion get the EU to back down, so...

And it appears Spain is readying itself for the barber -

http://www.zerohedge.com/news/2013-03-19/spain-preparing-its-own-deposit-levy

[trapeze]

Deposit tax or not, when the banks do reopen in Cyprus there are going to be massive withdrawals and that will be the end of their banking system.

Since the EU can't devalue the Euros for just Cyprus I am not sure what else they can do except go the austerity route.

Should be an interesting next few months.

[Weisshaupt]

An hour plus?  Summary, please?

Summary:
I predicted this years ago. We are screwed. Cyprus is a trial. Italy is next.
Timing is anywhere from next week to years from now.

Nothing really new. Just confirmation from Celente that he hasn't changed his mind.

[ToddF]

They need intact banks to buy the debt to pay for the free s**t the piglets demand.

And ugly circle we/they've drawn for our/themselves.

[Libertas]

It's OK with me, there is little in the bank on the deposit side short of what goes in and out for routine bills, my exposure is minimal, and if it brings things to a head I am hard pressed to see a downside.

[Libertas]

BOT - Banks in Cyprus to remain closed, capital controls in the offing, cannot wait to see the people go apenuts when they open again, and perhpas what the rooskie repsonse is going to be, this is high drama people!

http://www.zerohedge.com/news/2013-03-20/cyprus-banks-reopen-next-tuesday-earliest-capital-controls-become-reality

[Pandora]

BOT - Banks in Cyprus to remain closed, capital controls in the offing, cannot wait to see the people go apenuts when they open again, and perhpas what the rooskie repsonse is going to be, this is high drama people!

http://www.zerohedge.com/news/2013-03-20/cyprus-banks-reopen-next-tuesday-earliest-capital-controls-become-reality

Easy peasy, Libertas.  Cypriot government will exempt Russian accounts.  Whether they double-down on the native "rich" in order to make up the difference??

~~~~~~~~~~~~~~~

Thanks for the summary, Weisshaupt.

[Libertas]

The natives should be fleeing that island, but waiting this long, it's too late for them now.  Poor bastards.

[charlesoakwood]

Surprise!

Link

 [blockquote]While to most onlookers the idea of a direct deposit tax instituted by domestic US banks remains far off - the issue of the Fed's monetary policies, particularly since the last recession, has had a significant impact on "savers." While the individuals in Cyprus have been faced with an outright extraction of capital from their accounts - U.S. savers have had their savings negatively impacted much more surreptitiously. The continued drive by the Fed's monetary policies to artificially suppress interest rates to create a negative interest rate environment for savers is a defacto "tax" on savings. The destruction of principal since the turn of the century, which is far more disastrous than it appears when adjusted for inflation, has ended the dream of retirement for many individuals. So, can the U.S. potentially have a direct tax on savings?  It's already happened.[/blockquote]

[John Florida]

More info via ZH:

http://www.zerohedge.com/news/2013-03-19/what-does-no-vote-mean-cyprus-and-eurozone

If the EU was serious about cracking the whip, they would let bankruptcy take its course, but the Greek lesson is that fear of contagion get the EU to back down, so...

And it appears Spain is readying itself for the barber -

http://www.zerohedge.com/news/2013-03-19/spain-preparing-its-own-deposit-levy

 Charles are you reading this??

[Libertas]

Zirp to Nirp, we are merely trying to play kabuki and make it appear we are better off when in fact the structural problems the PTB's have created only boxed them in and strangled their options.  Nothing illustrates this madness more clearly than so-called market makers and pundits praising the fact that the FOMC statement is a cookie cutter of the previous meeting(s) and as such the "good news" is that nothing unexpected came forth!  Yes, when the so-called unexpected hits it will be a sledgehammer to everyone's face, there will be little time to digest how and why, chaos shall have everyone by the nose.  Continue hard asset hedging, real will survive, all kabuki will evaporate like it was never really there to begin with.