Just a taste of things to come (End of the World) | Cyprus

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Mr. Perfect
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Just a taste of things to come (End of the World) | Cyprus

Post by Mr. Perfect »

America, Europe, Japan, so many place, so much wealth to transfer.

http://www.reuters.com/article/2013/03/ ... 3I20130317
Cyprus was working on a last-minute proposal to soften the impact on smaller savers of a bank deposit levy after a parliamentary vote on the measure central to a bailout was postponed until Monday, a government source said.

In a radical departure from previous aid packages, euro zone finance ministers want Cyprus savers to forfeit a portion of their deposits in return for a 10 billion euro ($13 billion) bailout for the island, which has been financially crippled by its exposure to neighboring Greece.

The decision, announced on Saturday morning, stunned Cypriots and caused a run on cash points, most of which were depleted within hours. Electronic transfers were stopped.

The originally proposed levies on deposits are 9.9 percent for those exceeding 100,000 euros and 6.7 percent on anything below that.

The Cypriot government on Sunday discussed with lenders the possibility of changing the levy to 3.0 percent for deposits below 100,000 euros, and to 12.5 percent for above that sum, a source close to the consultations told Reuters on condition of anonymity.

The source said the discussions had the "blessing" of a troika of lenders from the European Commission, the IMF and the European Central Bank.

In Brussels, a spokesman for Olli Rehn, the European commissioner in charge of economic affairs, said discussions were still under way in Cyprus.

"If the Cypriot leaders agree on a more progressive scale for the one-off levy, in view of making it fairer for smaller savers and provided this would have the same financial impact, the Commission would be ready to recommend that the Eurogroup endorse such an agreement," the spokesman said.

The move to take a percentage of deposits, which could raise almost 6 billion euros, must be ratified by parliament, where no party has a majority. If it fails to do so, President Nicos Anastasiades has warned, Cyprus's two largest banks will collapse.

One bank, the Cyprus Popular Bank, could have its emergency liquidity assistance (ELA) funding from the European Central Bank cut by March 21.

A default in Cyprus could unravel investor confidence in the euro zone, undoing the improvements fostered by the European Central Bank's promise last year to do whatever it takes to shore up the currency bloc.
Last edited by Mr. Perfect on Thu Mar 21, 2013 8:54 pm, edited 1 time in total.
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Heracleum Persicum
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Re: Just a tast of things to come (End of the World)

Post by Heracleum Persicum »

Mr. Perfect wrote:.

America, Europe, Japan, so many place, so much wealth to transfer.

http://www.reuters.com/article/2013/03/ ... 3I20130317
Cyprus was working on a last-minute proposal to soften the impact on smaller savers of a bank deposit levy after a parliamentary vote on the measure central to a bailout was postponed until Monday, a government source said.

In a radical departure from previous aid packages, euro zone finance ministers want Cyprus savers to forfeit a portion of their deposits in return for a 10 billion euro ($13 billion) bailout for the island, which has been financially crippled by its exposure to neighboring Greece.

The decision, announced on Saturday morning, stunned Cypriots and caused a run on cash points, most of which were depleted within hours. Electronic transfers were stopped.

The originally proposed levies on deposits are 9.9 percent for those exceeding 100,000 euros and 6.7 percent on anything below that.

The Cypriot government on Sunday discussed with lenders the possibility of changing the levy to 3.0 percent for deposits below 100,000 euros, and to 12.5 percent for above that sum, a source close to the consultations told Reuters on condition of anonymity.

The source said the discussions had the "blessing" of a troika of lenders from the European Commission, the IMF and the European Central Bank.

In Brussels, a spokesman for Olli Rehn, the European commissioner in charge of economic affairs, said discussions were still under way in Cyprus.

"If the Cypriot leaders agree on a more progressive scale for the one-off levy, in view of making it fairer for smaller savers and provided this would have the same financial impact, the Commission would be ready to recommend that the Eurogroup endorse such an agreement," the spokesman said.

The move to take a percentage of deposits, which could raise almost 6 billion euros, must be ratified by parliament, where no party has a majority. If it fails to do so, President Nicos Anastasiades has warned, Cyprus's two largest banks will collapse.

One bank, the Cyprus Popular Bank, could have its emergency liquidity assistance (ELA) funding from the European Central Bank cut by March 21.

A default in Cyprus could unravel investor confidence in the euro zone, undoing the improvements fostered by the European Central Bank's promise last year to do whatever it takes to shore up the currency bloc.

.
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Yes, Mr. Perfect, you got it right , the "carnival" is finished (as the Jesuit Pope said)

Look, MP, you guys owe so much, you miles under water, miles .. no other way than you get a nice hair-cut .. you were partying with other people's money AND Wall Street crooks fleeced you to the bone

Mr. Perfect, there is only one Nation that does not owe anything to anybody, no national debt .. :lol: :lol: .. yes, you guessed it .. I R A N

Sanction comes also with some benefit .. nobody lending you forces one to live within one's means

Come a day, safest banks in the world will be Iranian banks in Tehran :lol: .. Oil & gas sold only against GOLD :D



.
noddy
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Re: Just a tast of things to come (End of the World)

Post by noddy »

in my country with a fat pig of a government not being able to adjust to the end of the mining boom and ending up with unpayable deficits they have decided to confiscate any bank account that has been idle for 3 years.

http://www.theaustralian.com.au/nationa ... 6525249359
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Re: Just a tast of things to come (End of the World)

Post by Mr. Perfect »

It's in the national interest.
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Re: Just a tast of things to come (End of the World)

Post by noddy »

absolutely, it would be the end of the world if the government workers had to find new jobs - its far better to rape the nest eggs of old people who have money stashed away for emergency self sufficiency.
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Re: Just a tast of things to come (End of the World)

Post by Mr. Perfect »

There is hardly anything as satisfying as sacrifice for the common good.
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Re: Just a tast of things to come (End of the World)

Post by noddy »

they are deliberately sabotaging the economy by saving money rather than spending it and stimulating something, so that kind of willful anarchism needs to be punished before it spreads.
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Re: Just a tast of things to come (End of the World)

Post by Mr. Perfect »

Can anyone imagine if a GOP gov't started confiscating bank accounts? Any ideas?
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Re: Just a tast of things to come (End of the World)

Post by noddy »

no idea about america - in australia its unlikely the liberals (our gop) would do this to protect government income as they dont mind sacking government staff at all, however when it comes to protecting banks and their over exposure to our housing boom i have ZERO faith in either side of the fence.
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Heracleum Persicum
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Re: Just a tast of things to come (End of the World)

Post by Heracleum Persicum »

Mr. Perfect wrote:.

Can anyone imagine if a GOP gov't started confiscating bank accounts ? Any ideas ?

.


Good news (for Americans) is, am not aware any American having any cash in the account .. Americans smart, they all owe to Chinese and Germans .. maybe, there should be a tax (cut) to what America owes to Chinese and Germans, Chinese and Germans should get the haircut :lol:

But, again

there's always many ways to skin the cat, MP :lol:



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Re: Just a tast of things to come (End of the World)

Post by Taboo »

Mr P,

Re: signature.
You are aware that the word is Ponzi schemes, right?
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Mr. Perfect »

I'm also aware that "STPN babay!" should be spelled "STPN baby" but I consider myself an artist and the internet is my canvasss. However I may need to edit for clarity.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Mr. Perfect »

You know I never got around to it here but one of my classic anti communist analogies involved liquidasting bank accounts, and interestingly here they are doing it. It's like I'm a prophet of some sort. My various accounts are prepared for this interestingly. The gift of foresight.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Enki »

They get bank stock for it. It will be interesting how it all works out.
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Location: Trolla. Land of upside down trees and tomatos........

You Can't Eat Gold when things go BAM!

Post by monster_gardener »

Heracleum Persicum wrote:
Mr. Perfect wrote:.

America, Europe, Japan, so many place, so much wealth to transfer.

http://www.reuters.com/article/2013/03/ ... 3I20130317
Cyprus was working on a last-minute proposal to soften the impact on smaller savers of a bank deposit levy after a parliamentary vote on the measure central to a bailout was postponed until Monday, a government source said.

In a radical departure from previous aid packages, euro zone finance ministers want Cyprus savers to forfeit a portion of their deposits in return for a 10 billion euro ($13 billion) bailout for the island, which has been financially crippled by its exposure to neighboring Greece.

The decision, announced on Saturday morning, stunned Cypriots and caused a run on cash points, most of which were depleted within hours. Electronic transfers were stopped.

The originally proposed levies on deposits are 9.9 percent for those exceeding 100,000 euros and 6.7 percent on anything below that.

The Cypriot government on Sunday discussed with lenders the possibility of changing the levy to 3.0 percent for deposits below 100,000 euros, and to 12.5 percent for above that sum, a source close to the consultations told Reuters on condition of anonymity.

The source said the discussions had the "blessing" of a troika of lenders from the European Commission, the IMF and the European Central Bank.

In Brussels, a spokesman for Olli Rehn, the European commissioner in charge of economic affairs, said discussions were still under way in Cyprus.

"If the Cypriot leaders agree on a more progressive scale for the one-off levy, in view of making it fairer for smaller savers and provided this would have the same financial impact, the Commission would be ready to recommend that the Eurogroup endorse such an agreement," the spokesman said.

The move to take a percentage of deposits, which could raise almost 6 billion euros, must be ratified by parliament, where no party has a majority. If it fails to do so, President Nicos Anastasiades has warned, Cyprus's two largest banks will collapse.

One bank, the Cyprus Popular Bank, could have its emergency liquidity assistance (ELA) funding from the European Central Bank cut by March 21.

A default in Cyprus could unravel investor confidence in the euro zone, undoing the improvements fostered by the European Central Bank's promise last year to do whatever it takes to shore up the currency bloc.

.
.


Yes, Mr. Perfect, you got it right , the "carnival" is finished (as the Jesuit Pope said)

Look, MP, you guys owe so much, you miles under water, miles .. no other way than you get a nice hair-cut .. you were partying with other people's money AND Wall Street crooks fleeced you to the bone

Mr. Perfect, there is only one Nation that does not owe anything to anybody, no national debt .. :lol: :lol: .. yes, you guessed it .. I R A N

Sanction comes also with some benefit .. nobody lending you forces one to live within one's means

Come a day, safest banks in the world will be Iranian banks in Tehran :lol: .. Oil & gas sold only against GOLD :D



.
Thank You Very Much for your post, Azari.

Oil & gas sold only against GOLD :D
Maybe.......

Gold is shiny
Gold is bright
But you can't eat Gold when you are hungry at night....
Or when things go BAM! :twisted:

http://en.wikipedia.org/wiki/Bam_earthq ... _relations

Recalling the first Arab Oil Embargo.....

Recalling an song popular with Uz Down in the Black Gang.......

"A Bushel of Wheat for a Barrel of Oil"....... ;)

Come a day, safest banks in the world will be Iranian banks in Tehran :lol:
Maybe because the gold in them may not be worth as much as what is in Uz Food Banks..........


I suggest buying an extra can of chicken soup each time one goes to the grocery store....

Pop top can........
For the love of G_d, consider you & I may be mistaken.
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The Best Laid Plans of Men, Monkeys & Pigs Oft Go Awry
Woe to those who long for the Day of the Lord, for It is Darkness, Not Light
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Mr. Perfect »

Enki wrote:They get bank stock for it. It will be interesting how it all works out.
Yes, sort of like it was always interesting to see how a soviet 5 year plan would work out. Very interesting.
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Enki
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Enki »

Mr. Perfect wrote:
Enki wrote:They get bank stock for it. It will be interesting how it all works out.
Yes, sort of like it was always interesting to see how a soviet 5 year plan would work out. Very interesting.
Agreed.

I haven't confirmed it, but I heard a rumor that € 2.5bn has been removed from Cyprus in the last 10 days.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Mr. Perfect »

What a surprise. And completely unpredictable. Sort of like how the outcome of a lobotomy is unpredictable.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Enki »

Mr. Perfect wrote:What a surprise. And completely unpredictable. Sort of like how the outcome of a lobotomy is unpredictable.

They are coming for the tax havens.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Mr. Perfect »

Not really, they will be the last to go. After they drain all the plebes, the left wing self sacrificers, but then the gov'ts will be bankrupted anyway. Remember the Obama confirmations, it is hard to find a Democrat that pays taxes. Those will remain untouched. Just have to know where they put them. Remember, Obama is the 1% President, he looks out for them.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by noddy »

the powerfully connected and internationally mobile people who use tax havens and have access to the bank decision makers are pretty hard to nail down .. the poor sucker with the atm card, not so much.

i know its a cliche but in this case its for a good reason.

doesnt matter anyway.. sneekily deflate away savings with money printing and zirp or blatently steal it outright, their is only one outcome on the horizon barring some unforeseen techno and/or cultural surprise invention.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Mr. Perfect »

Good point nods, I think they did intend to inflate but it didn't happen, no demand for credit outside governments. So Ayn Rand/Atlas Shrugged style nationalizations to follow. Leftists choose very difficult suicide strategies. Very strange people.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Enki »

Mr. Perfect wrote:Not really, they will be the last to go. After they drain all the plebes, the left wing self sacrificers, but then the gov'ts will be bankrupted anyway. Remember the Obama confirmations, it is hard to find a Democrat that pays taxes. Those will remain untouched. Just have to know where they put them. Remember, Obama is the 1% President, he looks out for them.
You say the last to go, except they are going after Cyprus right now.
Men often oppose a thing merely because they have had no agency in planning it, or because it may have been planned by those whom they dislike.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by noddy »

Enki wrote:
Mr. Perfect wrote:Not really, they will be the last to go. After they drain all the plebes, the left wing self sacrificers, but then the gov'ts will be bankrupted anyway. Remember the Obama confirmations, it is hard to find a Democrat that pays taxes. Those will remain untouched. Just have to know where they put them. Remember, Obama is the 1% President, he looks out for them.
You say the last to go, except they are going after Cyprus right now.
sadly not true - if this actually was the case it would have been a forced tax on foreign holdings only but in this case is for everyone, including the small holdings and looking likely that the delays and russian pressure will let the 1% of.
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Re: Just a tast of things to come (End of the World) | Cypru

Post by Mr. Perfect »

You can always count on Tinker not doing the due diligence.

I know all the good havens, Cyprus is not one of them.
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