March 18, 2013
— Dave in Texas Cypriot banks will be closed until Thursday.
Supposedly legislators are trying to renegotiate the deal to lessen the impact to depositors with less that 100,000 euros, but it won't matter. The damage is done.
I liked this comment from Nevergiveup over the weekend:
20 If you like your money, You can keep some of it, maybe.
Posted by: Dave in Texas at
08:55 AM
| Comments (252)
Post contains 69 words, total size 1 kb.
Posted by: phoenixgirl,commenter on a conservative award winning blog at March 18, 2013 08:56 AM (GVxQo)
Posted by: Milton Friedman at March 18, 2013 08:57 AM (e8kgV)
Posted by: Jaws at March 18, 2013 08:57 AM (4I3Uo)
Posted by: Mindy at March 18, 2013 08:57 AM (wk9P4)
Posted by: ejo at March 18, 2013 08:57 AM (GXvSO)
Posted by: BignJames at March 18, 2013 08:57 AM (Sg0G/)
Posted by: phoenixgirl,commenter on a conservative award winning blog at March 18, 2013 08:59 AM (GVxQo)
Guaranteed to close the banks permanently.
Next up .. I can feel the love .. a 10% currency usage tax.
That should completely finish them off.
Posted by: Milton Friedman at March 18, 2013 08:59 AM (e8kgV)
Posted by: no good deed at March 18, 2013 08:59 AM (gZeJA)
Posted by: phoenixgirl,commenter on a conservative award winning blog at March 18, 2013 08:59 AM (GVxQo)
Btw:
This is a serious serious miscalculation. Cyprus is tiny pimple on the ass. But the fear that this will cause is real and the black swan has taken flight.
Watch. The. Fuck. Out. in Europe.
Posted by: Prescient11 at March 18, 2013 09:00 AM (tVTLU)
Posted by: Adam Smith's Invisible Pimp Hand at March 18, 2013 09:01 AM (NzBQO)
What the hell? Ace's comment on the Bible series disappeared.
If a post gets deleted in the blog, do I still get credit for posting first! hahaha.
Posted by: Prescient11 at March 18, 2013 09:01 AM (tVTLU)
Posted by: phoenixgirl,commenter on a conservative award winning blog at March 18, 2013 09:01 AM (GVxQo)
Posted by: Our European Moral Superiors at March 18, 2013 09:02 AM (QgAFR)
Posted by: no good deed at March 18, 2013 09:02 AM (gZeJA)
A lot of annual leave is going to be taken Wednesday and Thursday.
A mass financial panic is an ugle thing - and its about time we had one!
Posted by: Mikey NTH - Pirate Scum of Umbar at March 18, 2013 09:02 AM (hLRSq)
Posted by: joncelli, orbital feline at March 18, 2013 09:02 AM (RD7QR)
Posted by: mallfly at March 18, 2013 09:03 AM (bJm7W)
Posted by: Award Winning Blog Commentator Beefy Meatball at March 18, 2013 09:03 AM (i7B17)
Posted by: mallfly at March 18, 2013 09:03 AM (bJm7W)
Posted by: Fritz at March 18, 2013 09:04 AM (UzPAd)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 09:04 AM (4OvDk)
Posted by: ghostofhallelujah at March 18, 2013 09:04 AM (XvrTA)
Posted by: phoenixgirl,commenter on a conservative award winning blog at March 18, 2013 12:59 PM (GVxQo)
They will grumble, and take it. What recourse will they have? The government has the guns and the banks.
Posted by: joncelli, orbital feline at March 18, 2013 09:04 AM (RD7QR)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 09:05 AM (4OvDk)
Posted by: TheOtherJay at March 18, 2013 09:05 AM (nojhZ)
Anybody breathing the air of Cyprus would pay, including tourists, who would pay 24 euros a day.
Posted by: Milton Friedman at March 18, 2013 09:05 AM (e8kgV)
Mallfly:
I call shenanigans!! haha. This Cyprus deal methinks is going to have serious repurcussions. This is flat out fucking stealing from bank depositors. In the middle of the night. It hasn't passed yet, but all electronic transfers have been stopped.
They want to get rid of physical money. If everything is electronic THEY WILL CONTROL IT ALL. The standard for transactions under scrutiny is now $3000 when it used to be $10000.
Getting to be scary times. But no, we don't have a debt problem and I completely trust Obama. I mean seriously Boehner, what the fuck???? I understand trying to be diplomatic, but at least he could have slipped in the one liner from Reagan, trust but verify!!! This fucking guy is all over the place.
Posted by: Prescient11 at March 18, 2013 09:05 AM (tVTLU)
Posted by: Senator Todd Akin (R-MO) at March 18, 2013 09:05 AM (HDgX3)
Posted by: Lauren at March 18, 2013 09:05 AM (wsGWu)
Exactly. That this was done somewhere means it can be done anywhere. Including here. They've been stealing from you through inflation for a century-the only difference here was they didn't have time for that to work (and Germany effectively vetoes inflation as a solution in the EU).
I think the only reason we haven't seen worldwide bank runs is that they're having trouble pushing this through parliament. If it decides not to be part of the theft, you then have the problem that "Europe can still kick the can" becomes immediately false, for all the fun market consequences that entails.
Posted by: Methos at March 18, 2013 09:06 AM (hO9ad)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 09:06 AM (4OvDk)
And just so you know how this will be spun when it occurs here.
Over in the lefty blogs and comments at places like The Guardian, the argument is the depositors would have lost all their money if the banks were closed, so the government is being astonishingly generous by letting them keep 90%.
Posted by: Laurie David's Cervix at March 18, 2013 09:06 AM (kdS6q)
* sigh *
Posted by: Serious Cat at March 18, 2013 09:06 AM (UypUQ)
Posted by: Lauren at March 18, 2013 01:05 PM (wsGWu)
The Germans made them an offer they couldn't refuse.
Posted by: joncelli, orbital feline at March 18, 2013 09:07 AM (RD7QR)
Posted by: Award Winning Blog Commentator socking SFC Retard, EU FSA at March 18, 2013 09:07 AM (i7B17)
Hopefully other EUtopian basket cases go full retard and we can get the party started sooner rather than later.
Posted by: sven10077-ArkLaTex travelogue and Researcher at March 18, 2013 09:07 AM (LRFds)
Posted by: JohnIscariotRoberts at March 18, 2013 09:07 AM (7ObY1)
Posted by: Buzzsaw90 at March 18, 2013 09:07 AM (SO2Q8)
Posted by: Lauren at March 18, 2013 09:07 AM (wsGWu)
Posted by: renaissance woman at March 18, 2013 09:07 AM (XYSwB)
Yup. No chance anyone would steal depositor's funds just to keep the fatcats whole.
Posted by: John Corzine at March 18, 2013 09:08 AM (hO9ad)
Posted by: Jumbo Shrimp at March 18, 2013 09:08 AM (DGIjM)
Posted by: Nevergiveup at March 18, 2013 09:08 AM (9Bj8R)
Posted by: TheOtherJay at March 18, 2013 01:05 PM (nojhZ)
I don't trust banks. Or governments. Or churches. Or schools. Or, pretty much anything at all.
Posted by: kathysaysso at March 18, 2013 09:08 AM (6H6o8)
Posted by: garrett at March 18, 2013 09:08 AM (slskE)
Posted by: renaissance woman at March 18, 2013 09:09 AM (XYSwB)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 09:09 AM (4OvDk)
Russian President Vladimir Putin on Monday criticized the decision as "unjust, unprofessional and dangerous," according to his spokesman. Here's a glance at why Russians keep so much money in Cypriot banks and how Russia can be affected by the island nation's crisis.
HOW MUCH MONEY DO RUSSIANS KEEP IN CYPRUS?
Russians keep about $19 billion in deposits in Cyprus, mainly through companies they set up there, according to the Moody's ratings agency. Russian banks also had around $12 billion placed with Cypriot banks at the end of last year and have loaned about $40 billion to Cypriot companies of Russian origin.
... stealing from the Russians .. what a country !!
Posted by: Gordon Gekko at March 18, 2013 09:09 AM (e8kgV)
FIFY.
Posted by: shibumi at March 18, 2013 09:09 AM (z63Tr)
The average American HS graduate couldn't find Cyprus on a map if you spotted them the latitude and longitude.
Posted by: HeatherRadish™ needs a beer at March 18, 2013 09:09 AM (/kI1Q)
Oh, I know.
Posted by: Prescient11
Because our Republic lives or dies on protecting the well-connected! Or something.
Posted by: Your betters in the GOP [/i] [/b] at March 18, 2013 09:09 AM (UCv7P)
Laurie David's Cervix:
Well in simple reply, that is untrue for those under 100k euros. Just like here, those deposits WERE FULL INSURED AND BACKED BY THE GOVERNMENT.
Until the banksters wanted their pound of flesh. Then fuck you citizens and fuck the contracts we made with you and fuck our promises to you.
Or, simply, fuck you citizens. Dear Cyprus and the banksters.
Posted by: Prescient11 at March 18, 2013 09:09 AM (tVTLU)
Zimbabwe will be richer than Cyprus.
I never thought I'd ever be able to put those words together.
Posted by: EC at March 18, 2013 09:10 AM (GQ8sn)
Posted by: renaissance woman at March 18, 2013 09:10 AM (XYSwB)
... guys.... we'll charter some good, sea worthy sailing ships, set course for due west, and determine our own destiny by settling on the new shores of a untamed la....
Mars??? Whaddaya mean Mars?? We aint got no rocket...
Posted by: fixerupper at March 18, 2013 09:10 AM (nELVU)
This is beyond creepy.
Posted by: Jumbo Shrimp at March 18, 2013 01:08 PM (DGIjM)
No, that's the whole point. They froze all transactions. If you still had acess to your money, you'd withdraw it, and they can't have you withdrawing your own money before they steal it. That would be unpatriotic.
Posted by: Heralder at March 18, 2013 09:10 AM (+xmn4)
Posted by: Lauren at March 18, 2013 09:11 AM (wsGWu)
Posted by: Cyprus government at March 18, 2013 09:11 AM (SO2Q8)
Posted by: no good deed at March 18, 2013 01:02 PM (gZeJA) [/i]
This, times 1000.
Posted by: MWR, Proud Tea(rrorist) Party Assault Hobbit [/s][/i][/u][/b] at March 18, 2013 09:11 AM (4df7R)
Posted by: renaissance woman at March 18, 2013 09:12 AM (XYSwB)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 01:06 PM (4OvDk)
About this whole thing though. CNBC reports that a lot of Cyprus account holders are actually Russian investors who park money there for convenience (by my estimate Russia doesn't use the Euro so that could explain it.)
Do we really expect Russia to take this sitting down? If CNBC is accurate then they're confiscating Russian Money as much as Cypriot money.
Posted by: tsrblke (work) at March 18, 2013 09:12 AM (i177X)
Posted by: mallfly at March 18, 2013 01:03 PM (bJm7W)
Are you kidding? Miraculously appearing and disappearing threads are a hallmark of this award-winning blog!
Posted by: MWR, Proud Tea(rrorist) Party Assault Hobbit [/s][/i][/u][/b] at March 18, 2013 09:12 AM (4df7R)
if only you had a paypal button or kickstarter at a webizine.....
no seriously you get into it well enough give me a holler...
http://www.midwayusa.com/
Posted by: sven10077-ArkLaTex travelogue and Researcher at March 18, 2013 09:12 AM (LRFds)
Posted by: Adam Smith's Invisible Pimp Hand at March 18, 2013 09:13 AM (NzBQO)
2) muslim brotherhood
3) the joooos!
4) some leftist radical
Posted by: renaissance woman at March 18, 2013 01:12 PM (XYSwB)
5) Vlad Putin and the guy who supplies him with polonium.
Posted by: joncelli, orbital feline at March 18, 2013 09:13 AM (RD7QR)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 09:13 AM (4OvDk)
Posted by: tsrblke (work) at March 18, 2013 01:12 PM (i177X)
Putin has already expressed his... displeasure.
You don't want to piss off a guy who wrestles whales in his free time.
Posted by: MWR, Proud Tea(rrorist) Party Assault Hobbit [/s][/i][/u][/b] at March 18, 2013 09:14 AM (4df7R)
Posted by: renaissance woman at March 18, 2013 09:14 AM (XYSwB)
Posted by: The Cypriot Government at March 18, 2013 09:14 AM (8ZskC)
IF THE GOP WAS SMART:
They would issue a press release immediately saying that they have written a letter to Cyprus demanding that any American with a bank deposit in Cyprus be protected from this insanity and decrying the tyrrany of stealing money from depositors in Cyprus. The good people of Cyprus should not be held responsible and stolen from because bankers made bad decisions and bad loans. Stealing from people's bank accounts is shocking and should be denounced by all Americans.
IMMEDIATELY.
Posted by: Prescient11 at March 18, 2013 09:14 AM (tVTLU)
Posted by: Lauren at March 18, 2013 09:14 AM (wsGWu)
Posted by: renaissance woman at March 18, 2013 09:14 AM (XYSwB)
Posted by: Jack Lew at March 18, 2013 09:14 AM (nojhZ)
The question is, who still is armed? Are all of the G-10 countries civilians unarmed?
Posted by: Paladin at March 18, 2013 09:14 AM (+Wvn3)
Posted by: Yale Taft Portman: Gay Son at March 18, 2013 09:15 AM (wIgpo)
Posted by: no good deed at March 18, 2013 01:02 PM (gZeJA)
This, times 1000.
Posted by: MWR, Proud Tea(rrorist) Party Assault Hobbit at March 18, 2013 01:11 PM (4df7R)[/i]
Can we please stay out of this one? Let the Yurp Derps hash their own shit out.
Posted by: eleven at March 18, 2013 09:15 AM (KXm42)
Posted by: ejo at March 18, 2013 09:15 AM (GXvSO)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 09:15 AM (4OvDk)
Longi-what?
Posted by: An Average American HS Graduate and Proud Obama Voter at March 18, 2013 09:15 AM (8ZskC)
Posted by: Nevergiveup at March 18, 2013 09:15 AM (9Bj8R)
my daily spending and ATM withdrawal limits got slashed at the beginning of the year. Government regulation. That's starting to seem mighty suspicious.
Posted by: Lauren
And withdraw over $100 and you get it in $50s. Harder to circulate in the underground economy.
Posted by: Laurie David's Cervix at March 18, 2013 09:15 AM (kdS6q)
Posted by: Serious Cat at March 18, 2013 09:15 AM (UypUQ)
Posted by: renaissance woman at March 18, 2013 09:16 AM (XYSwB)
Posted by: Award Winning Blog Commentator socking Whackoff Smirnof at March 18, 2013 09:16 AM (i7B17)
I'm amazed rioting and burning aren't going on in Cyprus already.
Posted by: Insomniac at March 18, 2013 09:16 AM (DrWcr)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 09:17 AM (4OvDk)
Posted by: An Average American HS Graduate and Proud Obama Voter at March 18, 2013 01:15 PM (8ZskC)
----
He was a gay diver at the Olympics dude.....
Posted by: fAn Average American College Student and Proud Obama Voter at March 18, 2013 09:17 AM (nELVU)
Posted by: Insomniac at March 18, 2013 01:16 PM (DrWcr)
They must have been a carefully selected test case.
Posted by: MWR, Proud Tea(rrorist) Party Assault Hobbit [/s][/i][/u][/b] at March 18, 2013 09:17 AM (4df7R)
There's really no good reason to have more money in a banks than you're going to write checks for before the next time you can make a deposit.
Posted by: Methos at March 18, 2013 09:17 AM (hO9ad)
Posted by: The Bank of Cyprus at March 18, 2013 09:17 AM (8ZskC)
subliminal messaging
Posted by: renaissance woman at March 18, 2013 01:16 PM (XYSwB)
Satan filed a DMCA complaint.
Posted by: Insomniac at March 18, 2013 09:18 AM (DrWcr)
Posted by: Prescient11 at March 18, 2013 01:14 PM (tVTLU)
Well, there's yer problem...
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 01:15 PM (4OvDk)
Eh, as much as that sounds like a good idea, if you choose to put your money in a specific country, you fall outside the protection of the US government. Anyone with money there took a risk frankly that the government would remain stable, they lost. (That doesn't make it right, but I think that arguing that any accounts should get special treatment misses the point about how broke this whole thing is.)
If the GOP had any sense, they'd tie this to our debt problem and ask what prevents us from doing the same.
Posted by: tsrblke (work) at March 18, 2013 09:18 AM (i177X)
I'm amazed rioting and burning aren't going on in Cyprus already.
Posted by: Insomniac at March 18, 2013 01:16 PM (DrWcr)
----
Canotta buya the gasolina....
Posted by: Cypriot Patriot, Inc at March 18, 2013 09:18 AM (nELVU)
Posted by: RWC at March 18, 2013 09:18 AM (fWAjv)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 09:18 AM (4OvDk)
Posted by: John Roberts at March 18, 2013 09:18 AM (mCvL4)
And withdraw over $100 and you get it in $50s. Harder to circulate in the underground economy.
$50's are the new $20.
You're welcome.
Posted by: Ben Bernanke at March 18, 2013 09:19 AM (JGKOY)
Posted by: Mjolnir, Banhammer from the Gates of Hell at March 18, 2013 09:19 AM (Jls4P)
Posted by: renaissance woman at March 18, 2013 09:19 AM (XYSwB)
So does anyone have a good feel for facts on the ground? Also, with the info that Russian officials and mobsters keep their dirty money in Cyprus, does that mean officals will start disappearing?
Posted by: bonhomme at March 18, 2013 09:19 AM (tRL5E)
Posted by: Whatev at March 18, 2013 09:19 AM (A7Wh1)
The truth about Cyprus:
1) It's a small shitstain country; and 2) yes it's a funnel for Ruskie dirty billionaire money.
However, let's look at what they just did. The eurozone ministers and bailout package czars, just said to every cleaning lady in Cyprus, who put their money in a bank with a guarantee that deposits up to 100k euros were safe, just got ass fucked out of 6.6% of their money.
And it was done immediately, all transfers frozen, on a weekend.
That is scary shit. If they can do that to the depositors of Cyprus, then all of Europe is fair game as it was the Euro "authorities" that ran the show here.
Posted by: Prescient11 at March 18, 2013 09:19 AM (tVTLU)
Posted by: Methos at March 18, 2013 01:17 PM (hO9ad)
Keeping thousands in my mattress doesn't seem to make much sense either frankly.
Posted by: tsrblke (work) at March 18, 2013 09:19 AM (i177X)
Posted by: Lincolntf at March 18, 2013 09:20 AM (ZshNr)
So what's the problem here?
Posted by: John Roberts at March 18, 2013 01:18 PM (mCvL4)
Justice Roberts, I hope you carry a big handkerchief. Because if I ever meet you on the street, I am going to hawk such a phenomenal loogie at you that you'll think you'd walked under Niagara Falls.
Posted by: MWR, Proud Tea(rrorist) Party Assault Hobbit [/s][/i][/u][/b] at March 18, 2013 09:20 AM (4df7R)
I think once the government resorts to outright theft, it has lost all legitimacy as a government. Don't you?
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 01:13 PM (4OvDk)
Same here, coffee cans in the backyard. And I think we can all agree this delegitimizes the government. This is terms for revolution in my opinion.
Posted by: Heralder at March 18, 2013 09:20 AM (+xmn4)
what happened to the Bible thread?
The Rapture.
All the good commenters ascended to Heaven, leaving the rest of us here....
Posted by: Laurie David's Cervix at March 18, 2013 09:20 AM (kdS6q)
Posted by: renaissance woman at March 18, 2013 09:20 AM (XYSwB)
Posted by: Warthog at March 18, 2013 09:20 AM (WDySP)
It can never happen in America because we abide by the rule of law?
That is until Bronco Bama changes the FDIC and SIPIC rules for depositors or investors by Executive Order.
Posted by: Doctor Fish at March 18, 2013 09:21 AM (ndqJC)
This was done at the urging of the Eurozone High-Mucketty-Mucks...right?
It's not like the Cypress govt decided to do this on their own, they were pressured into it.
Which is why there are shockwaves going on throughout the EU.
Posted by: wheatie at March 18, 2013 09:21 AM (rwujx)
Posted by: Vlasmir Putin [/i] at March 18, 2013 09:21 AM (feFL6)
Posted by: Lincolntf at March 18, 2013 01:20 PM (ZshNr)
_____________
We lose $1 on every sale but we make it up on volume.
Posted by: Mr. Moo Moo at March 18, 2013 09:21 AM (HDgX3)
Why not?
The rate of return is higher on your matress if they can shave ~10% on a lark there bud....
we're nearing the "oh shit" event horizon Bike...
Posted by: sven10077-ArkLaTex travelogue and Researcher at March 18, 2013 09:21 AM (LRFds)
Unfortunately, probably not. I know the Russians have a lot of money in Cypress. How much money do Americans have there?
Posted by: AllenG
Outside the US, you pays your money and you takes your chances.
Russia wants to beat up the EU? Fine by me. The US, having been taken for granted then abused by the EU for the past 50 years defending their soft asses is enough.
"Ooh, you imperialists, you war-mongerers! But come and save us now, si vous plait."
Ok. Not anymore. You're on your own, fucknuts.
Posted by: weft cut-loop [/i] [/b] at March 18, 2013 09:22 AM (UCv7P)
Posted by: Lincolntf at March 18, 2013 01:20 PM (ZshNr)
"*GASP!* Why, that would never happen! It would be unpatriotic! The Cypriots will continue to use their country's fine banking system. This one-off instance of state-sanctioned theft is just that -- a one-time thing. It would never happen again!"
-Some pro-Euro-Socialism twat
Posted by: MWR, Proud Tea(rrorist) Party Assault Hobbit [/s][/i][/u][/b] at March 18, 2013 09:22 AM (4df7R)
That is until Bronco Bama changes the FDIC and SIPIC rules for depositors or investors by Executive Order.
Posted by: Doctor Fish at March 18, 2013 01:21 PM (ndqJC)
IANAL
but theoretically I suppose the FDIC could just go batshit crazy and start taking over banks as "insolvent."
In doing so they'd be able to effectively seize any accounts over whatever the current FDIC protected limit is.
Posted by: tsrblke (work) at March 18, 2013 09:22 AM (i177X)
Yeah, instead of a one-time 10% hit, we've been enjoying a 7% haircut every year for five years now.
The Cyprus government is more honest and open about their theft . . . .
Posted by: RoyalOil at March 18, 2013 09:22 AM (VjL9S)
After the Obamacare and OWS and last year's DNC, I'd expect more than half the American public to say, "YEAH! MAKE THOSE RICH BASTARDS PAY MY WAY!" Because fairness. How dare I have four figures in a checking account when my HS classmates who became "single mothers" at 19 don't.
Posted by: HeatherRadish™ needs a beer at March 18, 2013 09:22 AM (/kI1Q)
They'll also believe the MSM when Obama and Congress seize assets here. They'll replace your deposits with worthless stock in the bank or call it a "one time only tax, won't happen again"
They'll also believe the MSM that anyone who objects to 10 cents on the dollar is a greedy teabagger racist
Posted by: kbdabear at March 18, 2013 09:22 AM (mCvL4)
The right of the people to keep and bear arms shall not be infringed
New Hotness;
The right of the people to keep and bear arms shall not be infringed so they can protect the money in their mattresses.
Posted by: Marcus at March 18, 2013 09:23 AM (GGCsk)
The average American HS graduate couldn't find Cyprus on a map if you spotted them the latitude and longitude.
The average American couldn't spell "Cyprus" if you spotted them the C, Y, P, R and S and let them choose a vowel.
Posted by: The Chicken at March 18, 2013 09:23 AM (zF6Iw)
Posted by: Gristle Encased Head at March 18, 2013 09:23 AM (+lsX1)
Posted by: bonhomme at March 18, 2013 09:23 AM (tRL5E)
Posted by: renaissance woman at March 18, 2013 09:23 AM (XYSwB)
Posted by: Ghostly Aspiration at March 18, 2013 09:23 AM (PP8La)
I tried teaching high school kids that by paint by numbers...we need a neat meme in a 'free" app for the droid I think...
a game where the more successful you are the more the AI cheats...
Posted by: sven10077-ArkLaTex travelogue and Researcher at March 18, 2013 09:24 AM (LRFds)
Why not?
The rate of return is higher on your matress if they can shave ~10% on a lark there bud....
we're nearing the "oh shit" event horizon Bike...
Posted by: sven10077-ArkLaTex travelogue and Researcher at March 18, 2013 01:21 PM (LRFds)
Any theft, fire or flood could potentially reduce your money to 0.
Sure statistically small chances I suppose, but not entirely negligible.
Posted by: tsrblke (work) at March 18, 2013 09:24 AM (i177X)
Posted by: Vizzy at March 18, 2013 09:24 AM (H0lcY)
tsrblke:
This is true, however under 100k euros are supposed to be insured like our FDIC insurance. For those accounts lower than 100k euros, those depositors should be absolutely protected regardless of country.
I mean, this is the Euro we are talking about, it's not like granny from Arkansas had an account in Zimbabwe.
And it puts them to the fucking point. Let me see, who has more votes, bankers or bank depositors!!!!!!!! THIS IS GOOD POPULISM.
Posted by: Prescient11 at March 18, 2013 09:24 AM (tVTLU)
Posted by: FRONT TOWARD LEFT at March 18, 2013 09:24 AM (V3kRK)
Posted by: Comrade Arthur at March 18, 2013 09:25 AM (TcQWW)
Posted by: rickl at March 18, 2013 09:25 AM (zoehZ)
Posted by: The Chicken at March 18, 2013 01:23 PM (zF6Iw)
Unless you're talking about Cypress Hill. Cuz weed.
Posted by: MWR, Proud Tea(rrorist) Party Assault Hobbit [/s][/i][/u][/b] at March 18, 2013 09:25 AM (4df7R)
Posted by: Lauren at March 18, 2013 09:25 AM (wsGWu)
All our politicians are going on about amnesty while thinking about Mexicans...we may get a bunch of illegal Cyprotians and other Europeans.
Or is it Cyprusians??
Posted by: Mama AJ at March 18, 2013 09:25 AM (SUKHu)
I believe it was written so the "civil servants" got to keep all their money.
Posted by: HeatherRadish™ needs a beer at March 18, 2013 09:25 AM (/kI1Q)
not quibbling or nutriding you you know my love for the Ruhr valley gangs...
right now the story is the Cypricot through the apricot because I assure YOU Klaus is watching this with eagle eyes if smart...
I *hope* the EUtopian overlords just blew their brains out.
Posted by: sven10077-ArkLaTex travelogue and Researcher at March 18, 2013 09:25 AM (LRFds)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 01:05 PM (4OvDk)
No! It didn't work because they did not Tax ENOUGH silly...
Posted by: Obama Economic Advisor, at March 18, 2013 09:25 AM (lZBBB)
Posted by: Gristle Encased Head at March 18, 2013 01:23 PM (+lsX1)
You rang?
Posted by: Strawman at March 18, 2013 09:25 AM (AWmfW)
Politics or pulture?
Posted by: renaissance woman at March 18, 2013 01:23 PM (XYSwB)
My bet is poultry.
Posted by: Serious Cat at March 18, 2013 09:26 AM (UypUQ)
Posted by: SpongeBob Saget at March 18, 2013 09:26 AM (epxV4)
Posted by: renaissance woman at March 18, 2013 09:26 AM (XYSwB)
Posted by: Vashta Nerada at March 18, 2013 09:26 AM (0N5pL)
Posted by: Vizzy at March 18, 2013 09:26 AM (H0lcY)
Posted by: rickb223 at March 18, 2013 09:26 AM (GFM2b)
that's right...we Americans are THRILLED that the stock market is BOOMING!
Never mind it is a perpetual motion machine fueled by Benny and Xerox
Posted by: sven10077-ArkLaTex travelogue and Researcher at March 18, 2013 09:26 AM (LRFds)
Posted by: Comrade Arthur at March 18, 2013 09:26 AM (TcQWW)
Ease up guys.... you're over reacting....
It cannot happen here because in OUR system of government we have checks and balances.
Congress is a counterbalance to any imperial presidency.... and SCOTUS always has our backs if unconstitutional ideas try to get implemented.
And lastly..... we have a free press to call into account any untoward overtures by our government.
Oh.Fuck.
We're screwed.
Posted by: fixerupper at March 18, 2013 09:26 AM (nELVU)
Posted by: Polliwog the 'Ette, assault Hobbit at March 18, 2013 09:26 AM (wbeNt)
Posted by: Sticky Wicket at March 18, 2013 09:26 AM (0IhFx)
Posted by: renaissance woman at March 18, 2013 09:27 AM (XYSwB)
Posted by: Our European Moral Superiors at March 18, 2013 09:27 AM (QgAFR)
nobody ever puts another dime in a Cypriot bank, this helps the economy how?
Posted by: Lincolntf
Oh, you won't put your money in the bank? OK, we'll tax you, or borrow in your name, and use the funds to buy bank company stock and bonds to insure the stability of the market.
Posted by: Your Government - A Division of the GM Family of Vehicles
Posted by: Laurie David's Cervix at March 18, 2013 09:27 AM (kdS6q)
Posted by: bonhomme at March 18, 2013 01:19 PM
They don't have guns, their government already seized them "to protect the public"
They have signs though ... and PUPPETS !!
I can hear the Eurohacks shaking now;
"OMG, they're coming, and they're carrying PUPPETS!!"
Posted by: kbdabear at March 18, 2013 09:27 AM (mCvL4)
Dog tax, tobacco tax,
motor vehicle and environmental tax.
Did you really think there wouldn't be more?
Sales and beverage taxes
do certainly make a beer expensive,
but that's still not enough for me!
Well you went and elected me
and now you're in a fine mess!
Once again I'm your chancellor for a few more years!
What you can promise today,
you can take back tomorrow,
and that's why I'm collecting every last banknote -
your cash, your moolah, your piggy bank!
Chorus
I'm raising your taxes.
Elected is elected, you can't fire me now;
that's really the cool thing about democracy.
I'm digging deep into your pocket,
every one of you nerds is stashing some dough somewhere
and I'll get it, I'll find it - no matter where it is.
I'm taking you for everything - yeah! You losers!
You'll be amazed, because I know how to keep surprising you.
Oh, there's not a tax I can't think up! Ha, ha, ha!
Posted by: mallfly at March 18, 2013 09:27 AM (bJm7W)
Posted by: Our European Moral Superiors at March 18, 2013 09:27 AM (QgAFR)
Posted by: Village Idiot's Apprentice at March 18, 2013 09:27 AM (dSl42)
This is true, however under 100k euros are supposed to be insured like our FDIC insurance. For those accounts lower than 100k euros, those depositors should be absolutely protected regardless of country.
I mean, this is the Euro we are talking about, it's not like granny from Arkansas had an account in Zimbabwe.
And it puts them to the fucking point. Let me see, who has more votes, bankers or bank depositors!!!!!!!! THIS IS GOOD POPULISM.
Posted by: Prescient11 at March 18, 2013 01:24 PM (tVTLU)
this is me not disagreeing. However even the might FDIC can't protect against a total collapse.
People warned about a common european currency since the 70s (I think Foucault even wrote about it.)
Like I said, I'm not saying it's a good idea, it's miserable and could cause a global panic. But if we're going to use our heft to try and change it, we need to do it across the board, not just demand special US treatment.
Posted by: tsrblke (work) at March 18, 2013 09:28 AM (i177X)
Posted by: Ian S. at March 18, 2013 09:28 AM (B/VB5)
Food that can be stored for a long time. Booze. Guns. Ammunition. Property out of the urban shadow.
If they try to accomplish this through a change in currency (going electronic only seems the most likely), then cash under the mattress doesn't help you.
If you mean you are unwilling/unprepared to use some cleverness or force to defend your stuff, I don't know what to tell you but that you are going to be robbed.
Posted by: Methos at March 18, 2013 09:28 AM (hO9ad)
Posted by: AllenG (Dedicated Tenther) Channelling Breitbart at March 18, 2013 01:13 PM (4OvDk)
Whaa? Romney, he suck! Gimme my Obama stash, honky!
- the FSA official response
Posted by: The Chicken at March 18, 2013 09:28 AM (zF6Iw)
Posted by: Comrade Arthur at March 18, 2013 09:28 AM (TcQWW)
Posted by: Grumpy Cat at March 18, 2013 09:28 AM (CTBHU)
Posted by: kbdabear at March 18, 2013 01:27 PM (mCvL4)
Do the puppets have big, paper mache heads?
BOOM.
Posted by: MWR, Proud Tea(rrorist) Party Assault Hobbit [/s][/i][/u][/b] at March 18, 2013 09:28 AM (4df7R)
149... The average American couldn't spell "Cyprus" if you spotted them the C, Y, P, R and S and let them choose a vowel.
ops:
Shit. Guilty of that, meself.
I don't know why I keep spelling it 'Cypress'...probably because of the trees.
Posted by: wheatie at March 18, 2013 09:29 AM (rwujx)
Yup...what *we* have here in America is the most powerful of the old SOROS game set...
the EU's crisis is it is more like the Americas under the articles of confederation rather than the Constitution so you have very disparate passionate people in a mexican stand off on currency games...
don't worry we'll get our own version with bailing out Illinois and Cali
Posted by: sven10077-ArkLaTex travelogue and Researcher at March 18, 2013 09:29 AM (LRFds)
Politics or pulture?
Posted by: renaissance woman at March 18, 2013 01:23 PM (XYSwB)
Just shooting in the dark but I predict a post about 'The Bible' series.
Posted by: Tami[/i] at March 18, 2013 09:29 AM (X6akg)
No law, just power.
Posted by: Grumpy Cat at March 18, 2013 01:28 PM (CTBHU)
Yeah, no shit, tell us about it.
Posted by: GM Bondholders at March 18, 2013 09:29 AM (IDSI7)
Once upon a time my family castigated this white hair for purchasing gold coins beginning 2001 to 2003.
The mindless chatter about wasting their inheritance has ceased, and I intend on maintaining my smugness all the way to the grave.
Posted by: Doctor Fish at March 18, 2013 09:30 AM (ndqJC)
thank God they didn't take your deposit though eh?
They took a page from John Roberts baby and "taxed" you it...
hell it's actually worse than that they just raided one state's cookie jar because it is weak.
Posted by: sven10077-ArkLaTex travelogue and Researcher at March 18, 2013 09:30 AM (LRFds)
tsr:
Well both the FDIC and the Euro authority can do what most others can't, print their currencies.
So, I don't see a total collapse situation in those areas. But that's how I knew the banks would be bailed out in some fashion, FDIC obligations would force some crazy action by the Fed if all those banks failed.
This is targeted go fuck yourselves to the depositors, and is not and should not be taken lightly.
Posted by: Prescient11 at March 18, 2013 09:31 AM (tVTLU)
----
Heh... they shoulda held out for scissors...
Posted by: fixerupper at March 18, 2013 09:31 AM (nELVU)
And if you think Obama/Pelosi/Reid/Durban didn't all cum violently when they heard that this was possible...
Posted by: Ian S. at March 18, 2013 01:28 PM (B/VB5)
Yep. All that lovely money sitting there in 401(k)s and IRAs, doing nobody any good (except its owners, the kulaks) ... yum
Posted by: Jay Guevara at March 18, 2013 09:32 AM (IDSI7)
Very impressed with the @GOP growth and #opportunity report. Really hits on some significant issues. Now, I hope we listen. @Reince
Now if that's not confirmation that the report is a useless piece of shit designed to please the MSM, we'll have to wait for Scarborough's seal of approval
Posted by: kbdabear at March 18, 2013 09:32 AM (mCvL4)
Posted by: Prescient11 at March 18, 2013 01:31 PM (tVTLU)
Agreed in full. Sadly Barky seems too tired to point out this is blatant theft of wealth.
Posted by: tsrblke (work) at March 18, 2013 09:33 AM (i177X)
Posted by: Grumpy Cat at March 18, 2013 09:34 AM (CTBHU)
that's right...we Americans are THRILLED that the stock market is BOOMING!
Because we're the healthiest horse in the glue factory.
Posted by: Jay Guevara at March 18, 2013 09:35 AM (IDSI7)
Posted by: Prescient11 at March 18, 2013 09:35 AM (tVTLU)
Posted by: Cicero Kid at March 18, 2013 09:38 AM (UrENZ)
Just like Hussein's reaming out GM bondholders (primarily the Michigan State Teachers' Pension Fund - you have to laugh), confiscating money from depositors in Cypriot banks serves as a warning to all and sundry: keep your money well away from this outfit, and others similarly situated.
As soon as Hussein did that to/for GM, anyone who invested in bonds in a unionized industry should have had his head examined. And no funds manager would dare to do it, I bet, for fear of being found not to have exercised his fiduciary responsibility ("prudent man" rule).
Posted by: Jay Guevara at March 18, 2013 09:39 AM (IDSI7)
Posted by: @PurpAv at March 18, 2013 09:41 AM (MIhYM)
Yeah, instead of a one-time 10% hit, we've been enjoying a 7% haircut every year for five years now.
The Cyprus government is more honest and open about their theft . . . .
Posted by: RoyalOil at March 18, 2013 01:22 PM (VjL9S)
--------------------------------------------
Yup. And we laugh at the misfortunes of others while the barbed cock has been in our asses since 2007. Our financial pain has become normalized.
Posted by: Soona - Award winning AoS lackey at March 18, 2013 09:41 AM (1VSAm)
Form up in squads of 3. Squad leader gets the gun.
Posted by: SpongeBob Saget at March 18, 2013 09:45 AM (epxV4)
Posted by: Grumpy Cat at March 18, 2013 09:45 AM (j3uk1)
Posted by: LGoPs at March 18, 2013 09:52 AM (4x8W0)
Known primarily by those who have studied the Great Depression, but the failure of this Austrian bank was the 1931 trigger that kicked of a wave of bank holidays and bank closings around the world. Before CreditAnstalt, the downturn that began in 1929 - 1930 was just another ordinary recession, like many that had happened before.
This could be the Black Swan we've known was coming, but couldn't see til it got here. Of course the way things work, a whole flock of Black Swans may be flying around any day now.
Posted by: Tom Servo at March 18, 2013 09:52 AM (UFTmf)
Posted by: Felt Wrapper at March 18, 2013 09:52 AM (ecmD4)
If the gov't starts making serious noises about confiscation here, I will pull my funds and take the hit. No way will I leave all my money for them to grab.
And God help the sorry bastard who comes for the rest.
Posted by: irongrampa at March 18, 2013 09:54 AM (SAMxH)
Posted by: TheOtherJay at March 18, 2013 09:57 AM (nojhZ)
Posted by: Grumpy Cat at March 18, 2013 09:59 AM (j3uk1)
Latest from WH: The WH will not comment on the Cyprus situation.
They will not comment because they're too busy fapping at the thought.
We are so fucked.
Posted by: publius(NotBreitbartPublius) at March 18, 2013 09:59 AM (Pqgwi)
Posted by: Grumpy Cat at March 18, 2013 09:59 AM (j3uk1)
Posted by: publius(NotBreitbartPublius) at March 18, 2013 10:01 AM (Pqgwi)
Posted by: Grumpy Cat at March 18, 2013 10:03 AM (j3uk1)
Posted by: redguy at March 18, 2013 10:06 AM (oqvI4)
Posted by: Bigby's OK at March 18, 2013 10:07 AM (WT63E)
Posted by: Jaimo at March 18, 2013 10:07 AM (9U1OG)
I don't wish anyone ill will, but I hope the Cypriots, Europeans and maybe even people here raise hell. If the EU gets away with this, it will certainly happen again. And again and again until there are very unfortunate consequences.
Posted by: Mayday at March 18, 2013 10:08 AM (F3s39)
Posted by: publius(NotBreitbartPublius) at March 18, 2013 10:09 AM (Pqgwi)
That is until Bronco Bama changes the FDIC and SIPIC rules for depositors or investors by Executive Order.
--
For all we know, it's already buried somewhere in Obamacare.
Posted by: Mayday at March 18, 2013 10:11 AM (F3s39)
Posted by: publius(NotBreitbartPublius) at March 18, 2013 10:12 AM (Pqgwi)
Posted by: publius(NotBreitbartPublius) at March 18, 2013 10:13 AM (Pqgwi)
Posted by: Jean at March 18, 2013 10:18 AM (bR2AR)
--
We really have no Constitutional protections at all, just a thin veneer of illusion. When our tyrannical government wants to steal from us, they just have to re-frame things a little, use a different set of terms and kazaam, they've created the loophole they need to fool the LIV.
If there is any justice, someday the history books will treat John Roberts the same as Benedict Arnold. We have a Vichy SCOTUS and GOP.
Posted by: Mayday at March 18, 2013 10:24 AM (F3s39)
FDR pulled all sorts of amazing tyrannical shit one wouldn't think would be allowed in constitutional republic. I've been re-reading a lot and you would be amazed. It's easy to forget this stuff.
For instance did you know that someone was arrested in NYC for charging too little for what he was selling? I ain't shittin'. You see they were fighting deflation. Solution: make it illegal to lower prices.
Fighting deflation in agriculuture meant plowing under crops and shooting livestock. Limit supply, raising prices, fight deflation. Federal agents actually went out and shot livestock. They did that.
And the public didn't rebel. THis shit happened right here in the USA back in Great Depression 1.0. And the Supreme Court upheld it.
Posted by: publius(NotBreitbartPublius) at March 18, 2013 10:33 AM (Pqgwi)
Posted by: ejo at March 18, 2013 12:57 PM (GXvSO)
Richt-winger! Tea-tard! Denounce yourself! Only greedy people with savings, like the lower-middle class, the middle class, the upper middle class, and the rich want to keep their money from the benevolent government!
"All within the state, nothing outside the state, nothing against the state."
-Benito Mussolini
/s
Posted by: theCork at March 18, 2013 10:38 AM (hbAdE)
Posted by: Bill H at March 18, 2013 10:56 AM (3sZO1)
Posted by: Brandon In Baton Rouge at March 18, 2013 10:58 AM (e0xKF)
Posted by: W.C. Varones at March 18, 2013 11:18 AM (FL7kh)
When you're a bank depositor, and your bank does stupid stuff like buying worthless Cypriot bonds, you're supposed to lose some of your money. They should be damned glad they haven't lost all of it.
Posted by: J. Moses Browning at March 18, 2013 11:48 AM (Y3JgK)
Posted by: PJ at March 18, 2013 12:38 PM (ZWaLo)
Posted by: Paul at March 18, 2013 12:41 PM (y9odA)
Posted by: Stateless Infidel at March 18, 2013 01:04 PM (AC0lD)
Posted by: someguy at March 18, 2013 06:47 PM (8XRrT)
Have you heard of Operation Inaction?
Here's an idea: Do nothing. Sit at home and chill. Don't go out to eat, don't
go to the movies, shopping, work, school, don't drive your car, don't do anything! Just stock up
on a month's worth of supplies, like food, medications - those regular things
you'll need - and do nothing.
If more than half the United States does this all at the same time, can you
imagine what would happen to the economy? Can you imagine the sort of response that would be triggered?
What's even better is that this isn't violent in any way. It's a silent
message. It's not even
rebellion. But it will get their attention in as little as one week's time.
There have been studies made on how the country would be affected if just a
smallpox outbreak was reported at several key transportation areas like JFK,
O'Hare, etc.
Think of what it would do - how your voice WOULD be heard if you were to DO
NOTHING for just one week. Two weeks or even one month.All that's necessary is to do
absolutely nothing - don't fly - don't drive or ride a bus or even a subway.
Don't leave your home to go to work or shopping - don't send your kids to
school - don't pay your bills - don't do anything.
If you are a health care provider - a nurse or doctor - don't go back to your
normal duties because once you have all shut down and are not doing your normal
activities the beast will be forced to send in its military personnel to staff
regular civilian duties until they end the Country's strike.
But in order to bring this beast to its knees you will need the vast majority
of people to follow suit. In one weeks time - just 7 days of no activity the
President will be urging every American to go back to work and their normal activities.
In two weeks time he will be begging you - and in one month the government will
be in such dire strait they will be willing to listen to the people's voice. All
done without firing a shot or any kind of violence - simply unify and DO
NOTHING until the beast is brought to its knees by your inaction.
Pass it on! Operation Inaction Starting April 1, 2013
Posted by: Rina A. at March 19, 2013 02:04 AM (sqVGz)
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Posted by: phoenixgirl,commenter on a conservative award winning blog at March 18, 2013 08:56 AM (GVxQo)