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(Some Guy)   Hello, Greece. Meet Cyprus, the newest German empire vassal state and zombie economy   (thetrumpet.com ) divider line
    More: Interesting, Cyprus, Germans, Russian Mafia, Citizenship of the European Union, bad bank, capital controls, Prime Minister of Russia, Financial Times  
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1400 clicks; posted to Politics » on 26 Mar 2013 at 8:32 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-03-26 12:50:56 PM  
Just don't take photos and video with the intention of making a computer game. They might think you're a spy.
 
2013-03-26 01:05:24 PM  
It's ok. Most of the Russian oligarchs and mobsters have already taken their money out through other channels. It's only the small businesses and other poor saps left behind now.  I doubt this levy will be enough.
 
2013-03-26 01:07:15 PM  

Bendal: namatad: vpb: It's better than a vassal of the New Russian Empire.  Or a part of Greece.

THIS

Also interesting that the EU is using Cyprus as a THREAT to Italy and Spain. "We wont bail your investors out. We are not going to do what the US did. We are going to burn the bad banks to the ground"

so expect massive runs on the banks.

Damn right; if I had any money in a Cyprus bank that reopened, I'd be down there in a heartbeat withdrawing every cent I had the second they opened. If they are openly telling Italy and Spain this kind of procedure may be used on their banks next, they're going to end up with a self-fulfilling prophecy when everyone draws their deposits out of those banks too.


After 2008 and all that banking mess I was living in California. There were small bank runs going on for a while. Washington Mutual and IndyMac put a limit of $300 per day on cash withdrawals. If that happened in America even for a short while I'm sure there will be limits in Cyprus. The worst thing is, many stores aren't taking debit or credit so people can't spend all their money by purchasing food and other needs. They truly are screwed. They will lose 40% and I don't see a way to avoid it.

The smart ones saw this coming and have a years worth of cash at home and a stockpile of food. See, it's not so crazy being  prepared. People in Cyprus didn't think this would ever happen to them but it did.
 
2013-03-26 01:17:52 PM  
hey you dumb farking krauts.  Maybe you SHOULDN'T HAVE LOANED THE MONEY IN THE FIRST PLACE.

But, fark this world, the due diligence of loaning out BILLIONS is no longer on the person giving out the loan, since they just make them debt slaves.
 
2013-03-26 01:44:43 PM  

Greywar: So if im a Russian mobster, and just had 1 billion dollars taken from me...what would I do?

Well...toss in 10% of the "lost" amount as a "lets kill those guys fund".  So another 100 million towards evening the score.

At 250K per hit, that's 400 politicians with a price on their head.

This could be interesting.


That's what you would do if you were a russian mobster in a hollywood movie, you mean. The rest of us are talking about the real world.
 
2013-03-26 01:55:55 PM  

pacified: hey you dumb farking krauts.  Maybe you SHOULDN'T HAVE LOANED THE MONEY IN THE FIRST PLACE.

But, fark this world, the due diligence of loaning out BILLIONS is no longer on the person giving out the loan, since they just make them debt slaves.


Read the article man. Cyprus is asking for germany to bail them out, and Germany is saying "we'll bail you out under these conditions".
 
2013-03-26 01:59:44 PM  

pacified: hey you dumb farking krauts.  Maybe you SHOULDN'T HAVE LOANED THE MONEY IN THE FIRST PLACE.

But, fark this world, the due diligence of loaning out BILLIONS is no longer on the person giving out the loan, since they just make them debt slaves.


I don't really think you've grasped what's going on here.


At all.
 
2013-03-26 02:00:11 PM  
The Russian mob money is long gone---everyone knew Cypriot banks were in trouble, including (especially) the mobsters. What money leaked out during the bank holiday is probably mostly friends and relatives of Russian and other expats living in Cyprus desperately pulling money out of the wall back home, where there were no limits on withdrawals. The amounts involved are too small to be the bigshots---millions, not billions.

Fun fact: Bank of Cyprus has plenty of branches in Romania. Their website announced, a bit too loudly, that Romanian branches of the Bank of Cyprus were not affected by the levies. That was a cue to any Romanians with the sense God gave granite (and I've never met a stupid Romanian in my life) that they would be happy to help any relatives of theirs living in Cyprus with the ability to Fedex their ATM cards to Bucharest.

I don't believe Germany wants Cyprus for a colony. They never even wanted Cyprus in the EU---they only let the Cypriots in at the insistence of Greece, who refused to acquiesce to admitting eastern Europe unless Cyprus got in too. Even the gas is a dead loss for as long as the dispute with Turkey is unresolved.

What's really going on here? Readers of German tabloids are sick to the back teeth of reading about bailouts and of Oma being fiddled out of her pension so lazy wogs can spend their days on the beach (as Bild has convinced them the EU has been doing---that Oma won't get her pension if Europe's banks collapse, and that Greeks who have jobs work longer weeks than Germans, is something Bild tends to gloss over). The Bild Party have been demanding for some time now to see Wogland burn with the wogs trapped inside, screaming for mercy while the plain people of Germany invest their hard earned cash on popcorn and beer (and copies of Bild, detailing the mayhem in loving detail) rather than bailouts, and have a good laugh at the wogs' expense.

If nothing but the spectacle of seeing the wogs "lie in their own muck" (Bild's words, not mine) will ensure the Bild Party vote CDU in September instead of staying home or voting for fringe parties, Angela Merkel presumably concluded, why not? I get to keep my job and Beppe Grillo might just remember his manners if he gets the idea we'll let Italy burn too. Putting Cyprus out of business as a tax haven is gravy. Actually trying to recover the money that the Greek kleptocrats living in retirement in London fiddled out of Athens would be much more trouble than its worth. She has enough trouble keeping Britain on board on a good day.

She might even pick up a few votes from Germany's Turks (depending on how you define the Turkish community, up to five percent of the population). Seeing the Greek Cypriots taken down a few notches might make the days of at least a few Turkish voters, and a much poorer Greek Cyprus might be more willing to see reason (as Turks see it) over northern Cyprus.

I sincerely hope all this was worth it to someone somewhere, because if there's a hell that's where that someone is going. I'll tell you this, it won't be regular Greek Cypriots who really have been fiddled out of their life savings---and their jobs. The most many of them will even see of the beach in the near future is from the window of the plane taking them out of Cyprus for wherever else in the EU will give them work.

That's assuming nobody starts insisting on exit visas for citizens of debtor nations wanting to emigrate, of course. So far nobody has suggested the East German solution even for Ireland---and the Cypriots deserve their fate far less than the Irish.
 
2013-03-26 02:02:01 PM  

verbaltoxin: 2013, and the Germans are taking over Europe. Everything old is new again. Just don't send any important Austrian people on a diplomatic trip to Serbia and we'll be fine, okay?


Sarajevo's in Bosnia.
 
2013-03-26 02:14:05 PM  

namatad: "We wont bail your investors out. We are not going to do what the US did. We are going to burn the bad banks to the ground"


Good!
 
2013-03-26 02:22:41 PM  

Evil High Priest: namatad: "We wont bail your investors out. We are not going to do what the US did. We are going to burn the bad banks to the ground"

Good!


Unfortunately when a bank burns to the ground, it is mainly innocent ordinary depositors' money that is burning.
 
2013-03-26 02:45:15 PM  

Bungles: Evil High Priest: namatad: "We wont bail your investors out. We are not going to do what the US did. We are going to burn the bad banks to the ground"

Good!

Unfortunately when a bank burns to the ground, it is mainly innocent ordinary depositors' money that is burning.


If they're angry, I recommend they go find some bankers and politicians to discuss this with. Bring torches.
 
2013-03-26 03:10:12 PM  
Something tells me the Russian oligarch's got their money out a while ago.  Ordinary investors are the ones that will pay the price.
 
2013-03-26 05:47:50 PM  

chuggernaught: Something tells me the Russian oligarch's got their money out a while ago.  Ordinary investors are the ones that will pay the price.


Zero Hedge has the story on that. I'm too lazy to link it up via smartphone so you'll have to have just a little more work ethic than the average Greek to google it.
 
2013-03-26 05:56:11 PM  

that1guy77: chuggernaught: Something tells me the Russian oligarch's got their money out a while ago.  Ordinary investors are the ones that will pay the price.

Zero Hedge has the story on that. I'm too lazy to link it up via smartphone so you'll have to have just a little more work ethic than the average Greek to google it.


Matter of fact, even though they're not so popular here, here's a blog that follows this kind of stuff:

http://glblgeopolitics.wordpress.com/2013/03/26/have-the-russians-alr e ady-quietly-withdrawn-all-their-cash-from-cyprus/

Just a FYI link.
 
2013-03-26 06:30:25 PM  
The EU has never been a democratic body. This is why Kerry wanted us to be more like them.
 
2013-03-26 07:09:05 PM  

Wyalt Derp: I don't know how it's legal to just go in and take (a portion of) someone's life savings. It's a good way to discourage people from saving in the future, that's for sure.


That's all, Folks!
 
2013-03-26 07:34:00 PM  

Bored Horde: Cyprus has farmers, fishermen, factories and stores.  They'll be OK.


...spoken like someone who never learned from the Great Depression.  No capital, no factory, no store, you use the farm as collateral just to buy clothing and other needs, etc. In fact, I'd argue the opposite: Those assets will be hit the hardest when the bank run happens.
 
mhd
2013-03-26 08:49:58 PM  
"So they are obsessed with the importance of rules, of obeying them and being seen to obey them."

Yeah, that would really be a silly thing for banks to do, wouldn't it?
 
2013-03-26 11:16:30 PM  

namatad: vpb: It's better than a vassal of the New Russian Empire.  Or a part of Greece.

THIS

Also interesting that the EU is using Cyprus as a THREAT to Italy and Spain. "We wont bail your investors out. We are not going to do what the US did. We are going to burn the bad banks to the ground"

so expect massive runs on the banks.


Sweet guys, lets use the Germans as part of a cordon sanitaire to keep the influence of russia from spreading!  What could possibly go wrong with such a well thought out plan.
 
2013-03-26 11:38:56 PM  

Scythed: Why is everyone blaming Germany for all of this? They don't want to bail anyone out and have accordingly been very stingy about it. It's France's fault for even having the idea of the Euro and then forcing Germany to save it now that it's apparent that it doesn't work.


What's a Cyprus Euro??
I was confused by that.
We dont have a Chicago Dollar or Illinois Dollar or Detroit Dollar.

EU fine.
State based Euros? LAWL
 
2013-03-27 01:41:29 PM  

namatad: Scythed: Why is everyone blaming Germany for all of this? They don't want to bail anyone out and have accordingly been very stingy about it. It's France's fault for even having the idea of the Euro and then forcing Germany to save it now that it's apparent that it doesn't work.

What's a Cyprus Euro??
I was confused by that.
We dont have a Chicago Dollar or Illinois Dollar or Detroit Dollar.

EU fine.
State based Euros? LAWL



This is a Cyprus Euro.

preview.turbosquid.com
 
2013-03-28 06:30:44 PM  

Scythed: Why is everyone blaming Germany for all of this? They don't want to bail anyone out and have accordingly been very stingy about it. It's France's fault for even having the idea of the Euro and then forcing Germany to save it now that it's apparent that it doesn't work.


Well, the Euro was the price for reunification.  Germany didn't really have the choice back then, France and the others that were afraid of a united Germany thought it would keep Germany under control.  Ironically, the euro has been more damaging to the French and actually helped the German economy.
 
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