Ace of Spades HQ

March 19, 2013

Cypriot Government Freaks Out
— Dave in Texas

Cyprus government sees pissed off citizens, backs away slowly.

This is called "between a rock and a hard place", the hard place being suspect Russian bank depositors having plumped up their own "Cayman Island Bank" special place of money love. And the European godanged Union.

Cyprus, a member of the EU which will not brook a default, needs a bailout.

Cyprus, a new haven for shall we say, "special monies" that might be, unsavory.

Citizens of Cyprus get caught in the middle with their government, which desperately wants the bailout, isn't interested at all in austenture let's keep the government jobs protected, and the price seems to be "how big are the riots going to be?"

Well they might be big so let's slow roll this thing and see how we manage the ire of the Russians and the control of the sputtering EU lords who worked out this deal only to see it unravel.

This is the sobering part of the story, and one the rest of us oughta keep an eye on.

And there is more to it than that. This is confiscation, but it a particular kind of confiscation with particular implications. It is the end of deposit insurance. Depositors, particularly small depositors, are supposed to have an ironclad guarantee that their money will always be there, no matter whatÂ—that they won't wake up one Monday morning to find that 6.75% of it is gone.
That's why the Cyprus heist is really important. It is a warning that the whole system of deposit insurance is coming unglued.

It's a service fee, or something.

Posted by: Dave in Texas at 05:52 PM | Comments (160)
Post contains 274 words, total size 2 kb.

1 ....the whole system of deposit insurance is coming unglued ***** MF Global took a couple billion and not much happened.

Posted by: Dept. Of Accuracy Dept. at March 19, 2013 06:03 PM (MhA4j)

2 The end of banking as we knew itÂ…..

Posted by: redguy at March 19, 2013 06:04 PM (oqvI4)

3 Maybe Cyprus' best bet would be to renounce sovereignty and join the U.K. if UKIP ever take over and the U.K. give the E.U. the middle finger.

Posted by: The Political Hat at March 19, 2013 06:04 PM (Vk2pI)

All they did was sever the trust between citizens, banks and government.

What could possibly go wrong?

Posted by: Stateless Infidel at March 19, 2013 06:04 PM (AC0lD)

5 Get your money out while you can

Posted by: Velvet Ambition at March 19, 2013 06:04 PM (R8hU8)

6 ...cats and dogs, living together...

Posted by: Doctor Venkman at March 19, 2013 06:04 PM (Vk2pI)

There is going to be blood over this. The EU thugs won't settle just for Cypress; they will go after Spain, Greece, Italy and even try to go after healthy countries.

Expect to see severe restrictions on where money can be moved.

Posted by: Colorado Alex at March 19, 2013 06:05 PM (lr3d7)

Bank Holiday! Pay 6.75% of your cash to the Banker and roll again.

[Monopoly - Cyprus Edition - Chance Card]

Posted by: Count de Monet at March 19, 2013 06:05 PM (BAS5M)

9 I believe their legislature voted it down today.

Posted by: Y-not at March 19, 2013 06:05 PM (5H6zj)

10 Facepalm. Sorry just now realizing that's what your first link went to!

Posted by: Y-not at March 19, 2013 06:05 PM (5H6zj)

11 I did e-mail my uncle the story Saturday telling him that in the future when we're looking out at a burning world, to remember that I declared this as the beginning of the end.

Posted by: Stateless Infidel at March 19, 2013 06:05 PM (AC0lD)

12 People have money? To put in banks?

Posted by: Cicero Kid at March 19, 2013 06:06 PM (UrENZ)

13 Louis: This is it! This is the sign! Janine Melnitz: Yeah, it's a sign, all right - "Going out of business".

Posted by: Dept. Of Accuracy Dept. at March 19, 2013 06:06 PM (MhA4j)

14 It's just a tax, it's cool.

Posted by: Justice Roberts at March 19, 2013 06:06 PM (PD2ad)

15
SIPIC and FDIC have served a useful purpose, and I will reduce the protection limit to $50K by Executive Order to reduce exposure. This measure is in the best interest of the American people, and is supported by most economists and democrat voters.

Posted by: Bronco Bama at March 19, 2013 06:07 PM (ndqJC)

16 Meh this has been going on here for a very long time, look at the interest rate your savings account is at. We have been getting screwed so long we don't even notice anymore.

Posted by: Oldcrow at March 19, 2013 06:07 PM (pCuxI)

17 I guess no more free fosters with the opening of a savings account eithet

Posted by: Albie Damned at March 19, 2013 06:08 PM (Yhu4q)

18 Whew!! Thank god my money is virtual.

Posted by: NCKate at March 19, 2013 06:08 PM (OfPTF)

19 Some will riot but it's the cost of doing business. I have no faith that if it happened here we would behave any differently. Any country that would elect that asshole Obama twice is crazy and complacent.

Posted by: Ghostly Aspiration at March 19, 2013 06:08 PM (PP8La)

20 Eh.

The riots will come, followed soon after by the Turkish army.

Posted by: CharlieBrown'sDildo at March 19, 2013 06:08 PM (3Mkrp)

21 Sit ludos incipiunt

Posted by: toby928© presents at March 19, 2013 06:09 PM (QupBk)

22 The EU thugs won't settle just for Cypress; they will go after.... **** Somebody's got to pay for those Mercedes 5 series, Lobster dinners and Riviera Houses.

Posted by: Dept. Of Accuracy Dept. at March 19, 2013 06:09 PM (MhA4j)

23 Friends, we live in interesting times. From wiki "May you live in interesting times", often referred to as the Chinese curse, is reputed to be the English translation of an ancient Chinese proverb and curse, although it may have originated among the English themselves. It is reported that it was the first of three curses of increasing severity, the other two being: "May you come to the attention of those in authority" (sometimes rendered "May the government be aware of you"). This is sometimes quoted as "May you come to the attention of powerful people." (Alternately, "important people".) "May you find what you are looking for." This is sometimes quoted as "May your wishes be granted."

Posted by: Mr. Pink at March 19, 2013 06:09 PM (++kZl)

24 In b4 the trolls

Posted by: weft cut-loop [/i] [/b] at March 19, 2013 06:10 PM (UCv7P)

25 Arggh tucking auto correct..that should have been toasters

Posted by: Albie Damned at March 19, 2013 06:10 PM (Yhu4q)

26
Cypriots should take heed and avoid Caterpillar tractors driven by insurgents.

Posted by: Rachel Corrie at March 19, 2013 06:10 PM (ndqJC)

Posted by: Oldcrow at March 19, 2013 10:07 PM (pCuxI)

American politicians at least have the decency to erode your purchasing power with the American dollar over time, slowly depreciating your savings with the majority of people not noticing.

This form of stealing was too blatant.

Posted by: Stateless Infidel at March 19, 2013 06:11 PM (AC0lD)

28 Eh. The riots will come, followed soon after by the Turkish army. Posted by: CharlieBrown Wouldn't the Greeks have to do something stupid first?

Posted by: weft cut-loop [/i] [/b] at March 19, 2013 06:11 PM (UCv7P)

29 Arggh tucking auto correct..that should have been toasters Posted by: Albie Damned at March 19, 2013 10:10 PM ***** They'd get more depositors with the free Fosters

Posted by: Dept. Of Accuracy Dept. at March 19, 2013 06:11 PM (MhA4j)

30 I really want the Russsian kleptocrats hiding their money in Cyprus to get robbed though.

Posted by: steevy at March 19, 2013 06:12 PM (9XBK2)

31
O/T

Hairy Reed's disgusting comment about the Marine tragedy in Hawthorne confirms his cuntiness.

Posted by: Doctor Fish at March 19, 2013 06:12 PM (ndqJC)

32 27 You're right. Shit, the fed has screwed us out of a lot more than 6.75 % in the last year.

Posted by: Dept. Of Accuracy Dept. at March 19, 2013 06:13 PM (MhA4j)

33 Since when did firing government hacks you can't afford become "austerity"? I've noticed lefties complaining about this all over the place.

Posted by: 18-1 at March 19, 2013 06:13 PM (zPVBH)

34 I doubt Cypress can be any more angry than Oprah will be reading the UK Daily Mail (story of her body double...did not read). A caption under a photo of her, legs akimbo in purple lace dress on grassy stairs of her home in Hawaii, describing her as a behemoth. My day was complete (I had just watched old YouTube videos of Jonathan Winters).

Posted by: ChristyBlinky is too lazy to link at March 19, 2013 06:13 PM (baL2B)

35 Some free Foster's would be apples with me, mate.

Posted by: Paul Hogan at March 19, 2013 06:13 PM (0Zx73)

36 Pure. Fucking. Theft. You have something I want/need. I have the ability to take it. I take it. That's theft. They can call it whatever they want. It's. Theft. And damn do I hate thieves.

Posted by: BCochran1981 - Credible Hulk at March 19, 2013 06:14 PM (GEICT)

Eh.

The riots will come, followed soon after by the Turkish army.

No country can be allowed to leave the Euro. We'll see a military occupation first.

Posted by: Colorado Alex at March 19, 2013 06:14 PM (lr3d7)

Does the clusterfuck leadership of the EU and the IMF want Beppo Grillo Prime Minister of Italy?

Magic eightball says, "All signs point to yes".

Posted by: Reader C.J. Burch writes again! at March 19, 2013 06:14 PM (Md8Uo)

39 Not quite a full burn, just smoldering.

Posted by: ALH at March 19, 2013 06:14 PM (eqV3Q)

40 teej, you here or on the down thread? Dave in Texas does not care that he will get stomped by the ONT. A real man. Good post too, btw.

Posted by: L, elle at March 19, 2013 06:14 PM (0PiQ4)

41 Wouldn't the Greeks have to do something stupid first?

Posted by: weft cut-loop at March 19, 2013 10:11 PM (UCv7P)

Turkey is becoming increasingly islamist, and Erdogan is a fucking loose cannon. He doesn't really need an excuse other than he is worried about the safety of the many Turks on the island.

While I don't really expect this, who would stop him if he did it?

Posted by: CharlieBrown'sDildo at March 19, 2013 06:14 PM (3Mkrp)

42 When I was in Salvadore after the Revolution and they had some heavily armes little amigos, running around killing people alone in the streets for 5 bucks and stealing anything with such mayhem, there was a sign on the out skirts of the city of San Salvadore that read " you have not seen nothing yet" What do you think is going to happen here in the US when the SHTF? Affirmative action will go out the window and your liberals will shirk OK Ok OK Im did not mean it..

Posted by: clemenza at March 19, 2013 06:14 PM (HMQ8k)

43 That Miley Cyprus seems like such a fine sweet girl. Can't believe she is taking everyone's money.

Posted by: Deli LLama at March 19, 2013 06:15 PM (lGu1O)

The Cypress banks will remain closed till Thursday to prevent a run on them.

Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha

(wheezes)

ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha!

Posted by: RushBabe at March 19, 2013 06:15 PM (tQHzJ)

45 34 I laughed out loud at behemoth.

Posted by: NCKate at March 19, 2013 06:16 PM (OfPTF)

46 We need to make sure our GOP 'betters' don't think intervening in a EU civil war is a good idea. Yes, yes, I know. We have been bailing out the EU banks for the past 5 years. But this shit has to come to a head sometime, and fuck me if we send any more into that pit of stupid.

Posted by: weft cut-loop [/i] [/b] at March 19, 2013 06:16 PM (UCv7P)

47 And yet US markets don't seem to notice this is happening. Odd.

Posted by: Mr. Moo Moo at March 19, 2013 06:16 PM (HDgX3)

And actually, the Russians are offering them a deal they can't refuse.

Gas development rights for cash to become solvent. One way or another, this EU thing is going to become a smelly dead skunk in the middle of the road.

Posted by: Reader C.J. Burch writes again! at March 19, 2013 06:16 PM (Md8Uo)

49 If they could print their own currency, they could just inflate the wealth away from their citizens...like we do.

Posted by: Ook? at March 19, 2013 06:16 PM (OQpzc)

50 My new front runner for the emburnening is the nationalization of 401(k) and similar type deposits in the US.

That's going to be fun. Yup. Sure will.

Posted by: alexthechick - SMOD. Totes waiting until after March Madness. at March 19, 2013 06:16 PM (Gk3SS)

51 I would have lost ... uh.. let me check. Whats 24x .0625?

Posted by: Whatev at March 19, 2013 06:16 PM (A7Wh1)

52 Confiscation? Unadulterated theft. Words mean something.

Posted by: dogfish at March 19, 2013 06:17 PM (N2yhW)

53 Once the Cyprus parliament votes to exempt accounts under 20K, the possibility of riots goes away.

The burden shifting to the Russians ups that ante, and Putin won't just settle for shares in a national gas company that hasn't drilled a well yet.

I think in the end, Bernanke prints up a shitload of dollars for euros, the ECB bails out the Cyprus banks, and the EU sends out propaganda to let the sheep know "your money is safe, minor bump, nothing to see here"

Posted by: kbdabear at March 19, 2013 06:17 PM (mCvL4)

54 It's not like they were Boyscouts.

Posted by: Harry Reid (D) at March 19, 2013 06:17 PM (wEx/O)

55 So we have western style social democracies the world over falling down with bloated budgets, huge debt, and gutting their own military while their birth rates fall. Meanwhile the shitholes of the world arm up, exploit their natural resources ruthlessly, and their citizens mass produce themselves at extraordinary rates. What the fuck could go wrong here by confiscating 10% of everyones shit? I do not have a doctorate but I do have a degree, and I can see this shit having the same effect as the assasination of Archduke Ferdinand.

Posted by: Mr. Pink at March 19, 2013 06:17 PM (++kZl)

56 Posted by: Mr. Moo Moo at March 19, 2013 10:16 PM (HDgX3)

Ah, the fool is back.

Posted by: CharlieBrown'sDildo at March 19, 2013 06:17 PM (3Mkrp)

57 No country can be allowed to leave the Euro. We'll see a military occupation first. Okay Mr. Anastasiades, you win. But beware. We Germans are not all smiles und sunshine.

Posted by: Horst at March 19, 2013 06:17 PM (QupBk)

58 Why don't they just print more dollars?

Posted by: Truman North and his shiny new website at March 19, 2013 06:17 PM (I2LwF)

59 Steal from the Russian Mob ......... ? Best plan ever .

Posted by: Bill D. Cat at March 19, 2013 06:17 PM (TQOZk)

60 Chinese collapse,Russian intervention,Turkish intervention,interesting times.Interesting times.Fuck it,the world might need a good burning.

Posted by: steevy at March 19, 2013 06:18 PM (9XBK2)

61 Absent blood in the streets here, you can leave your $$ in the bank and watch its purchase power shrink from price inflation. Big Government. Did I mention "Big Government"?

Posted by: Thorvald at March 19, 2013 06:18 PM (1V6Pv)

62 Looks like the Cypriot parliament got wind of people talking about ropes and streetlights because they defeated the measure today. What they will do now is anybody's guess. Maybe just the usual confiscatory taxes, as opposed to actual theft.

Posted by: joncelli at March 19, 2013 06:18 PM (CWlPF)

63 Can we get a math intellectual up in here?

Posted by: Whatev at March 19, 2013 06:18 PM (A7Wh1)

64 Markets are jittery over the latest drama in Cypriot Financial soap opera ' As the EU Burns'

http://tinyurl.com/cnuwsjn

Posted by: Anna Puma (+SmuD) at March 19, 2013 06:19 PM (RTZ9e)

65 Eighth Marine has died in NV.

Posted by: Jane D'oh at March 19, 2013 06:19 PM (UOM48)

66 The solution to the crisis is obvious: they should take the Russian money for mineral rights deal.

Posted by: Blacksheep at March 19, 2013 06:19 PM (bS6uW)

67 It has already gotten worse: "in Greece, the overall level of bank deposits has fallen by just 30 per cent since the crisis struck" http://tinyurl.com/cbff35a

Posted by: The Political Hat at March 19, 2013 06:20 PM (Vk2pI)

68 Math was outlawed on this blog long ago .

Posted by: Bill D. Cat at March 19, 2013 06:20 PM (TQOZk)

69 Eighth Marine has died in NV. Posted by: Jane D'oh at March 19, 2013 10:19 PM (UOM4 Damn. R.I.P.

Posted by: The Political Hat at March 19, 2013 06:20 PM (Vk2pI)

70 In related news, polonium futures are up...

Posted by: Ostral B Heretic at March 19, 2013 06:20 PM (79AXR)

71 65 Eighth Marine has died in NV.

Posted by: Jane D'oh at March 19, 2013 10:19 PM

Somebody get me a bloody shirt to wave

Posted by: Harry Reid at March 19, 2013 06:21 PM (mCvL4)

72 Eighth Marine has died in NV. Posted by: Jane D'oh at March 19, 2013 10:19 PM (UOM4 Damn. R.I.P. Posted by: The Political Hat at March 19, 2013 10:20 PM (Vk2pI) Smiley inadvertent.

Posted by: The Political Hat at March 19, 2013 06:21 PM (Vk2pI)

73 Fractional banking, the cause of, and cure for, so many economic ills.

Posted by: toby928© for TB at March 19, 2013 06:21 PM (QupBk)

74 WTF happened,I haven't been following it.A mortar round explode in the tube?

Posted by: steevy at March 19, 2013 06:22 PM (9XBK2)

75 Steal from the Russian Mob ......... ?
Best plan ever .

Yeah, I don't think it's the average citizen in the street the politicians fear.

Posted by: Retread at March 19, 2013 06:22 PM (zxitI)

76 70 In related news, polonium futures are up... Posted by: Ostral B Heretic at March 19, 2013 10:20 PM (79AXR) Unobtainium is going thru the roof.

Posted by: BignJames at March 19, 2013 06:23 PM (HtUkt)

77 You know what freaked me out? The story about that Philly abortionist. Read it hours ago, wish I hadn't, it's still making me sick.

Posted by: Peaches at March 19, 2013 06:23 PM (AJM+z)

78 65
Eighth Marine has died in NV.

Posted by: Jane D'oh at March 19, 2013 10:19 PM

MILLER: WhereÂ’s the concern? Seven Marines die and Obama tweets this picture of snack time

http://tinyurl.com/cb28aee

Posted by: Harry Reid at March 19, 2013 06:23 PM (mCvL4)

79 BignJames - thanks for jogging my memory last thread. First line @281 for you. Said goodnight last thread L, elle, and the rest of you... Love each other fellow babies

Posted by: teej at March 19, 2013 06:24 PM (J+V/o)

80 76 70 In related news, polonium futures are up... Posted by: Ostral B Heretic at March 19, 2013 10:20 PM (79AXR) ------------------------ Unobtainium is going thru the roof. Posted by: BignJames at March 19, 2013 10:23 PM (HtUkt) Black Democratium still priceless

Posted by: BCochran1981 - Credible Hulk at March 19, 2013 06:24 PM (GEICT)

81 Fractional banking, the cause of, and cure for, so many economic ills. You know what the best financial regulation is? Failure. Failure IS an option. Let it burn.

Posted by: AmishDude at March 19, 2013 06:25 PM (Gx3+g)

82 Math was outlawed ~~on this blog~~ everywhere long ago .

FTFY

Posted by: Barack Owebama at March 19, 2013 06:25 PM (IDypm)

83 So when brutal war, economic stagnation, and the implosion of debt hit europe will lefties stop pointing to them as an example of what we should do? Nahhhhh

Posted by: Mr. Pink at March 19, 2013 06:25 PM (++kZl)

53Once the Cyprus parliament votes to exempt accounts under 20K, the possibility of riots goes away.

The knowledge all around Europe, especially in the PIIGS states, that the EU tried to simply seize money from bank accounts will never go away.

I still predict long term runs on the banks, and eventually, a bank goes under or one state defaults, pushing banks into default, causing a loss in the derivatives market.

Then Hobo Hunting season opens....

Posted by: Stateless Infidel at March 19, 2013 06:25 PM (AC0lD)

85 79 BignJames - thanks for jogging my memory last thread. First line @281 for you. Said goodnight last thread L, elle, and the rest of you... Love each other fellow babies Posted by: teej at March 19, 2013 10:24 PM (J+V/o) Happy to be of service.

Posted by: BignJames at March 19, 2013 06:25 PM (HtUkt)

86 Posted by: The Political Hat at March 19, 2013 10:20 PM (Vk2pI) *Just* 30%?! Down by a third and they use "just"? Or do they mean the overall Greek crisis as opposed to the current Cypriot one? I can't follow the link on my Kindle to vet the answer.

Posted by: Polliwog the 'Ette, assault Hobbit at March 19, 2013 06:25 PM (wbeNt)

87 Tonight's Mega Million jackpot is $13 million. Don't think it will be enough to buy an MRE soon.

Posted by: Anna Puma (+SmuD) at March 19, 2013 06:25 PM (RTZ9e)

88 In my universe I am loved and respected for my philanthropic endeavors and charity work. Sorry, no time to chat.

Posted by: Mr. Hoo Hoo with a goatee at March 19, 2013 06:26 PM (0Zx73)

89 "Steal from the Russian Mob ......... ?" Steal from a nuclear power's government banks? Say, doesn't Russia ship a lot of natural gas to Germany? Time to impose a 100% "tax" on gas exports to Germany!

Posted by: Vlad The Nuclear Impaler at March 19, 2013 06:26 PM (Hu/Da)

90 Hey BignJames --- I wrote you back down thread. That was the song. Thanks for that.

Posted by: L, elle at March 19, 2013 06:26 PM (0PiQ4)

91 http://preview.tinyurl.com/ck9jkf8 "The Swedish apparatus With the hood and the bludgeon With the microwave oven Honey, how do it fee-ee-ee-ee... eel?"

Posted by: Thorvald at March 19, 2013 06:27 PM (1V6Pv)

92 74 WTF happened,I haven't been following it.A mortar round explode in the tube? Yeah. The Marine Corps has stopped all use of the 60mm mortar while they investigate. One article mentioned the lot number of the round had been linked to some previous problems. Terrible news about the additional death.

Posted by: Harrison Bergeron at March 19, 2013 06:27 PM (JQuNB)

93 Dave in Texas, Yup a "service fee" Pelosi and Reid do such a bang up job you should be thrilled to let Bawney and Kwiss give you a shave mein fruend.... The socialists want us to be wage slaves, no other explanation for these games.

Posted by: sven10077 at March 19, 2013 06:27 PM (LRFds)

94 We're boned. Too many people can not take a 10% cut on savings and pay bills and handel unexpected expenses. A lot of people are living beyond their means, or are one tire replacement from being immobile. "We have now sunk to a depth at which restatement of the obvious is the first duty of intelligent men." George Orwell

Posted by: NaCly Dog at March 19, 2013 06:27 PM (u82oZ)

95 @75 the very same occurred to me... you must be right.

Posted by: Thorvald at March 19, 2013 06:28 PM (1V6Pv)

96 The tip of the iceberg. And simply one more warning.

Posted by: Foghorn Leghorn at March 19, 2013 06:28 PM (n8LUb)

97 88In my universe I am loved and respected for my philanthropic endeavors and charity work. Sorry, no time to chat.

Posted by: Mr. Hoo Hoo with a goatee at March 19, 2013 10:26 PM (0Zx73)

That's alright. In this universe, we're just intrigued with your Hoo-Hoo.

Posted by: Stateless Infidel at March 19, 2013 06:28 PM (AC0lD)

98 What's the over/under on how long the banks stay open . 30 minutes ? If every cent isn't withdrawn by every depositor immediately then they deserve to lose it all .

Posted by: Bill D. Cat at March 19, 2013 06:28 PM (TQOZk)

99 Posted by: The Political Hat at March 19, 2013 10:20 PM (Vk2pI) *Just* 30%?! Down by a third and they use "just"? Or do they mean the overall Greek crisis as opposed to the current Cypriot one? I can't follow the link on my Kindle to vet the answer. Posted by: Polliwog the 'Ette, assault Hobbit at March 19, 2013 10:25 PM (wbeNt) I think he meant "about" by that. It's from the blog of anti-EU British MEP Daniel Hannen

Posted by: The Political Hat at March 19, 2013 06:28 PM (Vk2pI)

100 Hey I have seen some of you fuck stains making fun of me on this blog with shitty sock puppet names, corny jokes, and what not. Who the fuck is laughing now? I will be using a quarter ounce of gold to buy a pile of your hundred dollar bills to light my cigars and pay your mom to give me a blumpkin in a year.

Posted by: G. Gordon Lidy at March 19, 2013 06:28 PM (++kZl)

101 92 That is exceptional lethality for a 60mm.

Posted by: steevy at March 19, 2013 06:29 PM (9XBK2)

102 Oooh, the Germans are angry with me, Smithersopoulis! I'm so scared!

Posted by: mister burnsadopolis at March 19, 2013 06:29 PM (ORGYc)

103 65 Eighth Marine has died in NV.

Posted by: Jane D'oh at March 19, 2013 10:19 PM (UOM4

My prayers for their families.

Posted by: ChristyBlinky at March 19, 2013 06:29 PM (baL2B)

104 90 Hey BignJames --- I wrote you back down thread. That was the song. Thanks for that. Posted by: L, elle at March 19, 2013 10:26 PM (0PiQ4) It's a great song....brings back memories of 9th grade.

Posted by: BignJames at March 19, 2013 06:29 PM (HtUkt)

105 For the eight Marine being killed that is sad news indeed.

Steevy, the story is still unknown. Just there was an explosion while conducting live fire exercise with a 60mm mortar.

That yellow bellied lower than a snake belly slithering piece of protoplasm Harry Reid tried to use their tragic deaths to score cheap political points.

Posted by: Anna Puma (+SmuD) at March 19, 2013 06:29 PM (RTZ9e)

106 77 defense is claiming racism. I read until the broken necks part then I decided to stop reading.

Posted by: NCKate at March 19, 2013 06:29 PM (OfPTF)

107 9 Y Not, Yup...we'll find out if the EUtopian Kleptocrats will take "no" for an answer.

Posted by: sven10077 at March 19, 2013 06:30 PM (LRFds)

108 Posted by: Peaches at March 19, 2013 10:23 PM (AJM+z) The one from a couple of years ago who's finally going on trial or another one? (Gosnell?) is certainly a sick freak. It's why I say I'd never take my *dog* to an abortionist for medical treatment - and I'm not even all that fond of said pooch.

Posted by: Polliwog the 'Ette, assault Hobbit at March 19, 2013 06:30 PM (wbeNt)

109 Do Over! Do Over!

Posted by: Cyprus Gov't at March 19, 2013 06:30 PM (BAS5M)

110 I'm uncomfortable with any Doctor willing to kill human beings.

Posted by: steevy at March 19, 2013 06:31 PM (9XBK2)

111 Yeah, that one, Polli. Don't read the story. It will most likely haunt me to my dying day.

Posted by: Peaches at March 19, 2013 06:31 PM (AJM+z)

112 Now the people of Cyprus will have to work extra hard to earn back the money that was taken, which will boost the economy. It's really a win for everyone.

Posted by: Pauly Krugnuts at March 19, 2013 06:31 PM (2jQGY)

113 We should just turn Greece into a giant international landfill. All it needs is better roads to haul in the trash.

Posted by: Dang at March 19, 2013 06:32 PM (R18D0)

114 As long as people here can still pay for cable and watch Honey Boo Boo, there will be no uprisings

As long as the government can maintain the bread and circuses, the fucking over can go on indefinitely

Posted by: kbdabear at March 19, 2013 06:32 PM (mCvL4)

115 As long as the government can maintain the bread and circuses, the fucking over can go on indefinitely Posted by: kbdabear at March 19, 2013 10:32 PM (mCvL4) Or as long as the paper and ink hold out.

Posted by: BignJames at March 19, 2013 06:33 PM (HtUkt)

116 109 Do Over! Do Over! Posted by: Cyprus Gov't at March 19, 2013 10:30 PM (BAS5M) You know what? I'm out of the bottle. Sure, you can try to stuff me back in but people remember things like that.

Posted by: The Genie at March 19, 2013 06:33 PM (CWlPF)

117 I'm already tired of working, having done it since age 12! (And before, if you count household chores, picking rocks, and pulling weeds out of miles of shelter belt, and painting similar miles of fences.) Now I can't retire, ever? Fuck it. Bring the SMOD.

Posted by: Kalneva at March 19, 2013 06:34 PM (S+/pH)

118 In Obamaworld, cable won't just be mandatory, it will be essential.

Posted by: Thorvald at March 19, 2013 06:34 PM (1V6Pv)

119 As long as people here can still pay for cable and watch Honey Boo Boo, there will be no uprisings Posted by: kbdabear at March 19, 2013 10:32 PM (mCvL4) The form of the destructor has been chosen...

Posted by: Gozer the Gozerian at March 19, 2013 06:34 PM (Vk2pI)

120 I don't want to be hyperbolic, but, I will be. No-notice gov't confiscation of accumulated wealth is a big step over the line. So far past that line, that it instantly puts us in a Revolutionary/Civil War place. No gray area.

There would be blood. And quickly.

Posted by: Tonic Dog at March 19, 2013 06:35 PM (X/+QT)

121 Posted by: The Political Hat at March 19, 2013 10:28 PM (Vk2pI) Thanks. Hannen is an awesome spokesman for staying out of the EU. Do you follow him on Twitter? He wasn't tweeting often when I was checking in frequently, but was always interesting when he did.

Posted by: Polliwog the 'Ette, assault Hobbit at March 19, 2013 06:35 PM (wbeNt)

122 119 As long as people here can still pay for cable and watch Honey Boo Boo, there will be no uprisings Posted by: kbdabear at March 19, 2013 10:32 PM (mCvL4) The form of the destructor has been chosen... Posted by: Gozer the Gozerian at March 19, 2013 10:34 PM (Vk2pI) Shit, you mean we're going to be stomped by Honey Boo-Boo? Bring on SMOD!

Posted by: joncelli at March 19, 2013 06:35 PM (CWlPF)

123 There's more coverage in my sock.

Posted by: andycanuck at March 19, 2013 06:36 PM (ORGYc)

124 What the frak is austenture?

Posted by: Socktopus at March 19, 2013 06:36 PM (1FLBb)

125 Many Slors were devoured by the Traveler when in the form of Honey Boo Boo....

Posted by: Anna Puma (+SmuD) at March 19, 2013 06:38 PM (RTZ9e)

126 Now I can't retire, ever? Fuck it. Bring the SMOD.

Posted by: Kalneva at March 19, 2013 10:34 PM (S+/pH)

Yup, so true.

ONT's up, let's all hit the back room and party till NCIS comes on, eh?

Posted by: Peaches at March 19, 2013 06:38 PM (AJM+z)

127 Posted by: Peaches at March 19, 2013 10:31 PM (AJM+z) I won't. Still remember too much from when he was arrested. May he die screaming, haunted by the innocents whose lives he took.

Posted by: Polliwog the 'Ette, assault Hobbit at March 19, 2013 06:39 PM (wbeNt)

128 austenture
International douchebag of mystery

Posted by: Rule #2 at March 19, 2013 06:39 PM (CypDC)

129 ORGYc , You have got to be kidding me . You and EoJ have to be trading sexual favours with the Ewok . Bastiges the both of you .

Posted by: Bill D. Cat at March 19, 2013 06:40 PM (TQOZk)

130 Coming to a Banana Republican Theatre near you, soon!!!

Posted by: Dr Foistus at March 19, 2013 06:40 PM (+kznc)

131 "Guess what guys, it's time to embrace the horror! Look, we've got front row tickets to the end of the earth!"

Posted by: Rockhound at March 19, 2013 06:41 PM (BAS5M)

132 Thanks. Hannen is an awesome spokesman for staying out of the EU. Do you follow him on Twitter? He wasn't tweeting often when I was checking in frequently, but was always interesting when he did. Posted by: Polliwog the 'Ette, assault Hobbit at March 19, 2013 10:35 PM (wbeNt) Yup. He's good enough that I'll give him a pass for being a Tory

Posted by: The Political Hat at March 19, 2013 06:41 PM (Vk2pI)

133 FDIC bank account, or your mattress: No brainer, eh?

Posted by: Dr Foistus at March 19, 2013 06:42 PM (+kznc)

134 120 I don't want to be hyperbolic, but, I will be. No-notice gov't confiscation of accumulated wealth is a big step over the line. So far past that line, that it instantly puts us in a Revolutionary/Civil War place. No gray area. There would be blood. And quickly. Been to an airport lately? Americans line up, raise their hands, and watch while every curve and crevice of granny's mom's and daughter's bods be groped by fascist swine, without a peep of protest.

Posted by: Dr Foistus at March 19, 2013 06:45 PM (+kznc)

135 Anyone else notice that the lamestream has been largely ignoring this?

Posted by: terrorsquad at March 19, 2013 06:48 PM (1PqiV)

136 Cyprus should leave the EU and setup like Dominica. Their financial problems would be over within a year and they'd be rolling phat.

Posted by: @PurpAv at March 19, 2013 06:50 PM (/gHaE)

137 Posted by: terrorsquad at March 19, 2013 10:48 PM (1PqiV) I keep telling my financial planner he *needs* to read here. The Horde knew about this Friday morning whereas the MFM just started acknowledging anything at all was happening yesterday.

Posted by: Polliwog the 'Ette, assault Hobbit at March 19, 2013 06:52 PM (wbeNt)

138 God. Is. Laughing.

(Or if He isn't, Satan is.)

Posted by: Sleep talker, recorded by wife at March 19, 2013 06:57 PM (nEDGE)

139 There's only about a million people in Cyprus. Let it go, EU.

Posted by: toby928© for TB at March 19, 2013 07:02 PM (QupBk)

140 Sometimes you just gotta cut a nation loose.

Posted by: toby928© for TB at March 19, 2013 07:04 PM (QupBk)

141 I am so old I can remember a time when banks did not give a fuck where you got your money.

Posted by: navybrat at March 19, 2013 07:05 PM (3M8g3)

142 "Cypriot Finance Minister Michalis Sarris flew to Moscow on Tuesday afternoon to talk with furious Russian leaders about the implications for their citizensÂ’ deposits."

Let's hope he still can walk when he returns.

Posted by: PJ at March 19, 2013 07:15 PM (ZWaLo)

143 Meh, with Obamacare, there will be a 3.8% "use tax" on our biggest asset (our homes) when we sell them. We're getting the same treatment as the Cypriots...or will be soon, anyway.

Posted by: SARDiver at March 19, 2013 07:25 PM (V1Qx2)

144 OK, 'rons, who can learn me some about rifles? I got an offer for a "Mossberg Model 7215T Flat Top .22 Long Rifle 16.26 Inch Barrel Blue Finish Muzzle Brake Adjustable Sights Adjustable Synthetic Black Stock 25 Round Includes Magazine Loader (37209)" for $299. Go for it? Or pass it by? Also offering a 9mm Glock for $519 or a 10mm Glock for $579. Any thoughts? I can afford only one of these guns. The .22 LR would be an ammunition caliber match for me; the 9mm or 10mm would be something different.

Posted by: Boomer Redneque votes Galt/Rearden '16! Burn, baby, burn... at March 19, 2013 07:29 PM (eQnzo)

145 OT: LOL- Heard a bit of the Anthony Weiner resignation today (on America Now with Andy Dean). The fact the guy is supposedly trying to get bck into politics or something is crazy.

Posted by: Baldy at March 19, 2013 07:54 PM (opS9C)

146 11 I did e-mail my uncle the story Saturday telling him that in the future when we're looking out at a burning world, to remember that I declared this as the beginning of the end.

Posted by: Stateless Infidel at March 19, 2013 10:05 PM (AC0lD)

I hope the next iteration of human civilization will know better. I don't mean to criticize you in particular, but people need to know that this theft wasn't the beginning. It was the reckless lending which was in turn supported by TARP and similar assurances from governments to the banking cartel that it would never be held accountable for its actions.

If you understand exponents, you can figure out in fairly short order that you can't have central banks produce the money supply and a guarantee that no bank will ever be allowed to go insolvent.

Of course if you understand that they lend money into existence from nothingness and expect to be paid in money that was earned through labor, you'd know this is just another slavery scheme.

Posted by: Methos at March 19, 2013 08:00 PM (hO9ad)

147 But, but,but the Cypriot Finance Minister swears it was just a one time thing.

Personally I think it showed massive cajones to take the money outright rather than play some fancy pants game with the numbers, print more money or run up the non existent credit card. Waxed cajones, but still.

One more reason to cherish the constitution.

Posted by: shan at March 19, 2013 08:14 PM (V9MHw)

148 What difference does it make!

Posted by: H R C at March 19, 2013 08:17 PM (WV0NL)

149 On the one hand, you have the Germans and others in the north insisting that the Euro banks literally steal money from people's bank accounts before they underwrite a loan/bailout, while on the other hand, you have Southern European public sector union members demanding Germans work until age 80 in order to pay taxes so that the Greek union member can retire at 50. There is no way this can end well. Note that under the proposed bailout, all Cypriot public sector union members got to keep their benefits intact. There is no way this ends well, in Europe or the US. The only path to survival is to take an axe to union pensions, government-provided healthcare, and social security payments, and the response from those affected will be violent.

Posted by: Vashta Nerada at March 19, 2013 08:22 PM (/i3Yt)

150 I think that the EUnik Rapporteur needs to make a report to the EU about all this. Well, I don't really care if he does or not. The word, "Rapporteur" is bureaucratically amusing to me.....sowwy......

Posted by: Alaska Paul at March 19, 2013 09:07 PM (TBNfX)

151 I am still missing information on Cyprus: 1) Are all the banks screwed? If so, maybe the taxing makes sense. 2) This is a bank bail out not a budget issue. Why should the budget be cut to bail out the banks with taxpayer money? 3) Deposits under 100k should be made whole, and the shareholders, bondholders, and then the richer depositors should take their haircut, if their bank is failing. There should be no blanket level or tax. Bank by bank is the fairest way.

Posted by: sexypig at March 19, 2013 09:22 PM (dZQh7)

152 Also, we may think that our money is in the bank not as an investment, but actually it really is. Depositors with more than 100k really should pay attention to where they drop their money. This crisis from what I understand is not the Cyprus government running out of funds, but the banks. Or are they part of it too?

Posted by: sexypig at March 19, 2013 09:25 PM (dZQh7)

153 1) Every major bank in the world is insolvent and has been at least five years. But yes, all 4 banks in Cyprus need a fix in short order or they go under. The taxing is just theft though, because under normal lawful bankruptcy the depositors are always supposed to be the last to take any hit, and only after all other creditors have been 0'd out. Or rather depositors are supposed to get paid first.

There are supposed to be regulators in place to shut banks down as soon as they become insolvent so that only the bondholders lose a portion of their investment, but they're in bed with the banks and/or busy watching porn. Also, the ECB and the major German banks are among those creditors who would lose the entirety of their stake if the normal lawful order occurs, and they're insisting the rules be changed now in their favor.

The bailout is for both the banks and to keep the government funded, or rather the tax/levy/theft is to fund the banks and the outside bailout is for government employees.

Posted by: Methos at March 19, 2013 09:36 PM (hO9ad)

154 BTW, if no one's brought it up yet, there was a blurb on Special Report tonight about California giving small businesses a 50% tax break for the last 5 years, and demanding to have that amount paid now, plus interest.

So if you think the brazen theft is going to stay oversees, think again.

Posted by: Methos at March 19, 2013 09:47 PM (hO9ad)

155 If I remember right, Patty Murray (Idiot-Wa) several years ago proposed a tax on implied gains for homeowners, in other words if the value of your home went up, the feds would tax you on the (unrealized) gain, even though you didn't gain 1 cent from the so-called windfall you were getting according to her. I'm sure the assessed value would be on the up and up too. Her and Fauxahontas are real financial wizards.

Posted by: JHW at March 19, 2013 11:00 PM (B38OD)

156

"It's a service fee, or something."

It's a tax and completely constitutional. Call it a "hoarding tax."

Greedy peasants.

Posted by: SC Justice John Roberts at March 20, 2013 02:15 AM (f+TdG)

157 "It's a service fee, or something." I can tell you what it is.

Posted by: John Roberts at March 20, 2013 03:21 AM (NokrH)

158 Cyprus is a "laboratory of Democracy".

Posted by: President For Life Obama at March 20, 2013 03:23 AM (NokrH)

159 the whole system of deposit insurance is coming unglued

Now we know why the demoncrats want to confiscate firearms.

Posted by: An Observation at March 20, 2013 05:09 AM (ylhEn)