Cyprus
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25-03-2013, 02:17 PM
Cyprus
So I have been watching the media recently on the Cyprus situation. It would appear that a week ago they introduced the idea of a tax on bank deposits. The Cypriot people went mad about this and all of the politicians voted a big fat NO (hooray for the illusion of democracy)

The EU said "well if you dont find 5-6 billion euros from somewhere we aint giving you 10 billion euros"

So my first question (if anybody knows) is why is this deal so different? Why do the Cypriots have to find this money themselves to get this bailout? Why doesn't the EU and the IMF just give them 16 billion themselves?

So the Cypriot finance minister goes to Russia to see if they can broker a deal with them, which the Russians have said they would be willing to do for certain rights over energy (of which Cyprus has gas reserves) but that deal falls through for whatever reason and then we find out that they have done a deal with the EU and that people with deposits over 100,000 will face a "tax" on these up to 30%.

So even though the people of Cyprus have said NO they are going to "steal" this money regardless... to prop up the (in my opinion) already dead European banking system (again hooray for the illusion of democracy)

If anybody can answer the questions raised in this video/offer an opinion then I would be interested in hearing it.





Angry

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25-03-2013, 02:40 PM
RE: Cyprus
Withdraw yer moneyz and get it under yer mattress!!!

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25-03-2013, 03:47 PM
RE: Cyprus
Is it just me or is there no diffrence between whats going on here and a Ponzi scheme?

(31-07-2014 04:37 PM)Luminon Wrote:  America is full of guns, but they're useless, because nobody has the courage to shoot an IRS agent in self-defense
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25-03-2013, 03:58 PM (This post was last modified: 25-03-2013 09:25 PM by Bucky Ball.)
RE: Cyprus
(25-03-2013 02:17 PM)bemore Wrote:  So my first question (if anybody knows) is why is this deal so different? Why do the Cypriots have to find this money themselves to get this bailout? Why doesn't the EU and the IMF just give them 16 billion themselves?

So the Cypriot finance minister goes to Russia to see if they can broker a deal with them, which the Russians have said they would be willing to do for certain rights over energy (of which Cyprus has gas reserves) but that deal falls through for whatever reason and then we find out that they have done a deal with the EU and that people with deposits over 100,000 will face a "tax" on these up to 30%.

So even though the people of Cyprus have said NO they are going to "steal" this money regardless... to prop up the (in my opinion) already dead European banking system (again hooray for the illusion of democracy)

If anybody can answer the questions raised in this video/offer an opinion then I would be interested in hearing it.





Angry

The thing is, the Greeks have, for decades been living high off the hog, on the backs of the other Europeans. 10 % may be cheap ? Before reforms they were retiring at 55, etc etc, working 6 hour days, (or whatever), and the Germans who work far more than the French and the Spanish were expected to bail them all out. Some of their leaders have been warning about it for a long time. Many have been waiting for this shoe to drop for a number of months. I agree it's a huge mess. The Euro dropped like a stone today, and it's not just Cyprus. The currency people are looking beyond this case to Spain, Italy, Portugal next. A number of banks will fail. You can't live on an air pocket forever. This is just the beginning. It is funny that a bunch of those shady Russian oligarchs will probablly loose a bunch. Wanna make a fortune ? Sell the Euro short.

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25-03-2013, 04:14 PM
RE: Cyprus
All I can think is, why the fuck are yo0u watching this nut jobs videos? but w/e.

Having no internet (or tv) for the past 10days I have no fucking idea what is happening outside of this house and the route to the uni and supermarket.

So apparently they got the 10billion anyway which of course they would. The EU wouldn't let them collapse and bail out of the EU because it would be highly embarrassing for them. Considering Cyprus's economic contribution, dropping out of the EU would hardly effect anyone but itself but still, not a good look.

Besides, I don't know what you're complaining about Bemore, all those with under 100,000 eu in the banks are guaranteed that money by the looks of it. It's the rich who need to be worried. I thought you'd be all for that.

They did suggest to take 6.75% of those under 100,000 but that was rejected. That has got to be the worst bit of politics I've seen in fucking ages to be honest, suggesting to take 7% of everyone's money.... Just the suggestion is all it would take.
Yay let's suggest to take people's money, they'll just sit there and let it happen and not withdraw all their money as soon as possible greatly greatly hastening the downfall of the banking sector... fucking idiots. Do these people not look at other countries as examples? Or you know, have a fucking brain?
Suggest it in cabinet sure, but don't fucking tell the people! God damn, retard statement of the week.

I suppose what you have to understand is that the country was on the verge of total economic collapse. Probably still is. Would you rather lose 6.75% of your savings or 100%?

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25-03-2013, 08:08 PM
RE: Cyprus
http://www.nbcnews.com/business/economyw...snhp&pos=4
So the writting on the wall is getting clearer and clearer. I give the euro 2-3 years max.

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26-03-2013, 07:14 AM
RE: Cyprus
(25-03-2013 04:14 PM)earmuffs Wrote:  All I can think is, why the fuck are yo0u watching this nut jobs videos? but w/e.

Having no internet (or tv) for the past 10days I have no fucking idea what is happening outside of this house and the route to the uni and supermarket.

So apparently they got the 10billion anyway which of course they would. The EU wouldn't let them collapse and bail out of the EU because it would be highly embarrassing for them. Considering Cyprus's economic contribution, dropping out of the EU would hardly effect anyone but itself but still, not a good look.

Besides, I don't know what you're complaining about Bemore, all those with under 100,000 eu in the banks are guaranteed that money by the looks of it. It's the rich who need to be worried. I thought you'd be all for that.

They did suggest to take 6.75% of those under 100,000 but that was rejected. That has got to be the worst bit of politics I've seen in fucking ages to be honest, suggesting to take 7% of everyone's money.... Just the suggestion is all it would take.
Yay let's suggest to take people's money, they'll just sit there and let it happen and not withdraw all their money as soon as possible greatly greatly hastening the downfall of the banking sector... fucking idiots. Do these people not look at other countries as examples? Or you know, have a fucking brain?
Suggest it in cabinet sure, but don't fucking tell the people! God damn, retard statement of the week.

I suppose what you have to understand is that the country was on the verge of total economic collapse. Probably still is. Would you rather lose 6.75% of your savings or 100%?
Welcome back then Muffin. Have you got somewhere sorted now then? I may be in the same situation myself that you were in soon but I stick my fingers up at life and tell it to fuck off.

I'm not against the rich. I have no problem with people who work hard for their money or who save for the future its the whole system that I have a problem with. I understand entirely where you are coming from and the markets have been mirroring your sentiments. Cyprus has allegedly been used as a tax haven for the Russians so in a way I suppose its like a currency war in some respects. Its partly the fault of the Russians for not tightening the loopholes with the Tax Havens but people having money stolen from their accounts, which they may have worked hard and for years for.... in my eyes I don't think that is right.

I don't want people to suffer and have their accounts totally wiped out but if it happened then they would suffer but at least the people would revolt and call for change. It would become a precedent and I think people from other countries would take note and (I hope) take more of an interest in what happens to their money and the monetary system as a whole.

With regards to the Video I posted I know that Mark is a bit "eccentric" in some of his videos but he does raise some good points I feel. I know that the Bailout money given to countries not only goes to that country, but is used to pay off debts in other countries so it kind of keeps the whole boat afloat (although I think they are bailing the sinking ship out with a bucket with a large hole in it.... in other words a futile effort) However he does raise a good point about people who have been in power who then go on to become "advisors" to some of the large corporations. Tony Blair the war mongering cunt has made millions from his advisory roles and I think its kinda wrong what with the potential contacts he has, a bit of a "conflict of interests" as it were.

For no matter how much I use these symbols, to describe symptoms of my existence.
You are your own emphasis.
So I say nothing.

-Bemore.
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26-03-2013, 07:24 AM
RE: Cyprus
The problem is that it isn't just a matter of the people having a revolt and then everything going back to normal/being better.
It's massive unemployment, total lose of faith in the countries economy etc.. etc..
It's a big chain of events.

ie: A dairy farm has all the cows killed by some disease. The farm goes out of business. But then the person that collected the milk goes out of business. Then the guy that turned milk to butter goes out of business. The cheese guy goes out of business. The guy that uses cheese on his pizza now can't use cheese and goes out of business. The boy that delivered pizza for a part time job goes loses his job, can no longer pay the rent and has to drop out of university in order to find lower paid full time job and never becomes an engineer. The country then doesn't have engineers and can't build decent buildings. An earthquake happens and buildings collapse because of a lack of engineers and kills a couple hundred people etc...

Really extreme I know but you get my point.
And banks are probably thee worst thing to collapse because of who has an interest in them (that being everybody).

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