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  • Why we care about Cyprus

    Too many tidbits to quote. You are just going to have to read it. And read it you should.

     

    Why the Cyprus Bail In Is a Bigger Deal Than You Think

     

    This really is getting kinda scary. Have they just about kicked the can down the road as far as they can?


  • #2

    It isn't a big deal and we shouldn't care.

     

    Cyprus and the Russians that were dumb enough to bother can pull all their money out their banks and stick it up their ass. 

     

    Cyprus's net worth equals dick.  It won't sink the Euro and it won't mean squat for America. It's just another reason to point and laugh at Europe.

     

    Comment


    • Rudolf von Hagenwil
      Editing a comment

      Don't worry about Cyprus, you don't have a military base there,

      as well no Americans bunker any untaxed cash in Cyprus.

       

      But take care that Obama doesn't do the same to you to balance the budget.


  • #3
    When has capitalism ever been unregulated?

    Comment


    • #4
      When you allow your government to be controlled by the banksters, this is what happens.

      And there's no reason it can't happen here as well.

      Comment


      • John Ellis
        John Ellis commented
        Editing a comment

         They're already doing it here. 

        QE is killing the dollar.

         Stock Market is artificially high.

        And we're sending that stupid **************** in Washington on million dollar golf outings.


      • testuser
        testuser commented
        Editing a comment

        mauser wrote:
        When you allow your government to be controlled by the banksters, this is what happens.

        And there's no reason it can't happen here as well.

        It already has happened here in various forms. Ask any GM bondholder.


    • #5
      Essentially it is, but I was referring specifically to a government raid on private bank accounts.

      Comment


      • John Ellis
        John Ellis commented
        Editing a comment

        mauser wrote:
        Essentially it is, but I was referring specifically to a government raid on private bank accounts.

          I agree, I can see the more direct approach here too.

         And looking at liberal attitudes here, I can see it happenening sooner than later. 


      • testuser
        testuser commented
        Editing a comment

        mauser wrote:
        Essentially it is, but I was referring specifically to a government raid on private bank accounts.

        It's why I have none there. Seriously. I have zero trust for the US government, be it R or D controlled.


    • #6
      Hey gallus, tell us more about how "more dumber" and "most stingiest" are grammatically sound phrases.

      Comment


      • #7

        For those who advocate leaving large financial institutions to their own designs until regulators see trouble brewing, I submit this:

         

        "Bank of Cyprus and Marfin Popular Bank were subject to the 2011 EU-wide stress test conducted by the European Banking Authority (EBA), in cooperation with the Central Bank of Cyprus, the European Central Bank (ECB), the European Commission (EC) and the European Systemic Risk Board (ESRB).

        The Central Bank of Cyprus notes the announcements made today by the EBA on the EU-wide stress test and fully acknowledges the outcomes of this exercise. 

        The EU-wide stress test, carried out across 91 banks covering over 65% of the EU banking system total assets, seeks to assess the resilience of European banks to severe shocks and their specific solvency to hypothetical stress events under certain restrictive conditions. The exercise requires that the results and weaknesses identified are acted on to improve the resilience of the European financial system.

        The assumptions and methodology were established to assess banks

        ____________________________________________
        The Homebrews!http://home.bellsouth.net/p/PWP-rupertamp

        "The major difference between a thing that might go wrong and a thing that cannot possibly go wrong is that when a thing that cannot possibly go wrong goes wrong it usually turns out to be impossible to get at or repair." -Douglas Adams, Hitchhiker's Guide to the Galaxy

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