Cyprus Bailout with a Twist

I love that guy, he is so angry!

I’ve began converting some of my cash to silver coins. Ammo would be a nice commodity as well but apparently I’m too late for that one…

[quote]Schwarzfahrer wrote:
Let’s all hope he does.
Tapping the vein directly is way better then letting it dribble from a thousand wounds for centuries, for so many reasons.[/quote]

How old are? Seriously?

Your responces here scream “20 something with zero real life bills and responsibilities, and a total lack of basic freedom and economics.”

I am getting word that Italy might try this idea too.

Trust and believe my peoples are stuffing their mattresses as we speak.

http://www.reuters.com/article/2013/03/18/us-eurozone-cyprus-banks-idUSBRE92H0M120130318

Looks like they fear a run, lol. What a stupid ass idea this is.

Pretty good breakdown. (Auto play video)

Eurogroup Folds: Tells Cyprus To “Safeguard” Depositors Under ?100,000 Euros
Submitted by Tyler Durden on 03/18/2013 16:08 -0400

Free Money headlines Reuters

Reuters headlines crossing the closing tape, supposedly out of a (very credible) Greek source, according to whom the Eurogroup will give Cyprus more flexibility on bank levy, and that Cyprus should safeguard depositors under ?100,000. Well, at least they were not kidding with the whole plan. This was not unexpected - as we tweeted last night:

There are two very key questions which remain woefully unanswered:

i) how will Europe restore the confidence it has lost by even contemplating insured deposit impairments, and

ii) a deposit haircut is still a deposit haircut, and as noted earlier, the majority of Cypriot parties have announced they would vote against any bank levy, not just that which is determined to be “fair” by 10 European bureaucrats, and supposedly only hurts those evil, evil Russian billionaires.

In other words, the final word still remains with the Cypriot parties. Let the horse trading begin.

Finally, the Russian response to the discovery that haircuts on big deposits just rose from 9.9% to over 15% will hardly be warm and cuddly.

P.S. All of this coming from a Greek finance minister source (speaking on behalf of Europe) means it is all 100% accurate, credible and true. We can’t wait for the refutation.

So, undermining trust in banks and the government at the same time?

On the one hand, good.

On the other hand, do they want hsperinflation?

This issue alone is a good reason to have our 2nd amendment.