If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Some Guy)   Hello, Greece. Meet Cyprus, the newest German empire vassal state and zombie economy   (thetrumpet.com) divider line 20
    More: Interesting, Cyprus, Germans, Russian Mafia, Citizenship of the European Union, bad bank, capital controls, Prime Minister of Russia, Financial Times  
•       •       •

1395 clicks; posted to Politics » on 26 Mar 2013 at 8:32 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Smartest)
View Voting Results: Smartest and Funniest


Archived thread
2013-03-26 12:25:22 PM
2 votes:
Guys guys guys... you're assuming that things are going to go exactly as described in the bailout. When these banks open on Thursday, any Russian with 3 accounts and 50,000,000 in them will wake up and find they have 480 accounts with 100,000 in them (the 2,000,000 as a payout to the banker). Cyprus got its reputation in banking by being shady. Assuming some serious hijinks aren't going on with the accounting is foolish.
2013-03-26 10:16:42 AM
2 votes:
I don't get all the hate on Germany. The Germans don't want to bail out all these countries, and it has been really hard for German politicians. The Germans just want to make sure they want to get some of their money back, or that their loans are being used to pay off necessary debt. True, there is an argument to be made for deficit spending, but if you look at the disaster that was Greece, there was no way you could bring that back. Germany has every right to not want to see it's money frivoled away.
2013-03-26 09:48:25 AM
2 votes:
Right now, there's a room full of Russian mafia bosses complaining about the rampant criminality in the international banking system.  Let that sink in for a second.
2013-03-26 08:56:22 AM
2 votes:

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.


From what I've heard, while there are some legitimate depositers, the Cypriate banking system is mainly used to launder Russian mob money. They're the Cayman islands of Europe.
2013-03-26 02:00:11 PM
1 votes:
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 10:41:11 AM
1 votes:
Gott in Himmel, the Fourth Reich is upon us all.
2013-03-26 10:40:02 AM
1 votes:
When you take 40% of Russian billionaires' money, you can expect a few assassinations to come out of this.

Russian oil-money oligarchs aren't renowned for their spirit of forgiveness.
2013-03-26 10:29:54 AM
1 votes:

NINDroog: I don't get all the hate on Germany. The Germans don't want to bail out all these countries, and it has been really hard for German politicians. The Germans just want to make sure they want to get some of their money back, or that their loans are being used to pay off necessary debt. True, there is an argument to be made for deficit spending, but if you look at the disaster that was Greece, there was no way you could bring that back. Germany has every right to not want to see it's money frivoled away.


It's difficult to describe...  But I think a lot of the hate stems from the Germans (their government, not really the citizenry) knowing the Euro/EU would fail to begin with. They're co-authors of the entire EU project and also keep pushing for further regional consolidation... The term "United States of Europe" comes to mind. There's no way so many different countries with varying economies and cultures can run as one unit in solidarity. Since this was known, a horizon was foreseen and planned for. By the time the crises hit, Germany, the heart of Europe with all the industry, becomes the pay master. You either fail or take our money in exchange for giving up sovereign rights, etc...

As stated, it's somewhat hard to explain. However, since I've become a bit of a current events/news junkie over the last decade, I can say that I've been able to take certain stories and piece them together. It's basically the Fourth Reich taking over via economic warfare... and I somewhat subscribe to that theory.

And you're right, the German people don't want this shiat. It's the renegade government with it's hands in the 'troika' machine.

Mir ist wirklich egal was in Zypern passiert is. Prost!
2013-03-26 10:18:19 AM
1 votes:
I don't think we'll see deposit seizures in any of the other countries facing debt problems, they'll burn the banks down by decapitalizing them first like they did in Greece.

The Eurozone did this to themselves, they had strict debt to GDP requirements and other financial measures on the books.  Greece cooked the books so they met one of those metrics for a single year (the year they were admitted), and went right back to business as usual after that.  Several other member states have pulled the same accounting trickery to get in.
2013-03-26 10:14:53 AM
1 votes:

Psylence: Dwight_Yeast: Psylence: 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.

Hey, who cares as long as the financial elite get more than their share... again. I'm ready to see some shiat start burning.

Uh, actually, this time, it's the rich who are getting screwed.  They're seizing all deposits over 100,000 Euros.

It's something we should have done when we bailed out the banks in this country.

It doesn't seem like its stopping the bank runs by normal people, at least from the pictures I've been seeing.  Hey, if the Russian oligarchs are getting robbed, great..  but I *REALLY* don't see this turning into another Icelandic success story.


Even if normal folks didn't faer their accounts being dipped into, the extended closing and limited withdrawl rules alone create a bank run imo.

If you lived paycheck to paycheck with a small cushion you would want to maintain access to that cushion.

I should keep more cash in the house too probably. I keep about a grand. Thinkin' maybe up it to two.
2013-03-26 09:43:52 AM
1 votes:
FTFA: Germany and Russia may have already done a deal over this.


Awesome! What could possibly go wrong?
2013-03-26 09:32:41 AM
1 votes:

IlGreven: Tyrone Slothrop: 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.

From what I've heard, while there are some legitimate depositers, the Cypriate banking system is mainly used to launder Russian mob money. They're the Cayman islands of Europe.

...and that justifies screwing over legitimate depositors, including Cypriot citizens who have nowhere else to turn.


Well... to be fair they are pulling from the uninsured portion of legitimate depositors.  Which is likely a better choice than their previous agreement with the EU to levy a tax on ALL depositors, whether insured or not.

That being said, when financial services make up 46% of your GDP, enacting capital controls and seizing deposits is probably not the best way to go through life.
2013-03-26 09:25:25 AM
1 votes:
"Give me control of a nation's money, and I care not who makes the laws."
2013-03-26 08:45:57 AM
1 votes:

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.


what about the ...
oh never mind

here is a hint
if your savings are only insured to 100k, um, dont put more than 100k there ....

PLUS, this wasnt a savings bank, this was an investment bank - aka gambling.
they invested in greece, heavily. those investments are now worthless.
WHY do we keep bailing out these people??? They gambled and lost.
At some point we need to stop bailing them out. period.

strange
this is really a wake up call to italy and spain. you could be next.

It could be argued that it is a last warning to greece, but the greeks have been clueless when it comes to fiscal reality.
2013-03-26 08:45:48 AM
1 votes:
No worries.  I'm sure Cypriots can free themselves through work.
2013-03-26 08:40:38 AM
1 votes:
So we can just imagine that the League of Shadows is running Germany now?  "We've tried conquest before, but this time we chose a different path: economics."

/Es ist einfach, töten wir die Batman.
2013-03-26 08:40:21 AM
1 votes:
Stop trusting bankers, I think they're just in it for the money.
2013-03-26 08:37:54 AM
1 votes:

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.


Hey, who cares as long as the financial elite get more than their share... again. I'm ready to see some shiat start burning.
2013-03-26 08:33:58 AM
1 votes:
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.
vpb [TotalFark]
2013-03-26 08:16:55 AM
1 votes:
It's better than a vassal of the New Russian Empire.  Or a part of Greece.
 
Displayed 20 of 20 comments

View Voting Results: Smartest and Funniest


This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »






Report