Grand Theft Auto!

[choff]

http://money.cnn.com/2013/03/18/news/ec ... s-bailout/

[hanelyp]

Far from stabilizing the local economy, it may trigger a bank run and general economic collapse. It is already raising fears that a similar asset raid may be pulled in other countries with weak finances. And expectations are that if it works out once, it will be tried again as needed to close government finances.

[choff]

This guy explains it rather well.

http://www.youtube.com/watch?v=K5R2JyU_ ... embedded#!

[kcdodd]

My question is, what happens when the banks open? And not just in Cyprus.

[Stubby]

run forrest run

[choff]

The reason the Cyprus banks are in trouble is because they took a haircut on bailing out Greece, at the behest of the ECB/IMF/Banksters no less. Now those same entities are putting the same squeeze on them they did to Greece. It's incredibly stupid unless you want to deliberately collapse Southern Europe with bank runs, drive the depositors to safe havens in Northern Europe, and then pick up the assets for a song. Providing of course you don't collapse the entire system doing it, totally insane, hopefully some ripped off Russian mobsters will engage in a service to humanity and pay the banksters a visit.

[hanelyp]

I'd rather the Russian gangsters paid a visit to the politicians who voted to approve this.

[MSimon]

What is ironic is that world law generates about half the hot money in the world.

Politics creates gangsters and yet people are lulled by the fact that the gangster control of politics is not an obvious problem. Until it is.

"The Latin American drug cartels have stretched their tentacles much deeper into our lives than most people believe. It's possible they are calling the shots at all levels of government." - William Colby, former CIA Director, 1995

What happens when that hot money calls in its chits backed by an army of thugs?

Well things could/will get ugly.

[MSimon]

I'd rather the Russian gangsters paid a visit to the politicians who voted to approve this.

The problem is that the bankers are the front men for the gangsters. And the front men are dispensable.

"What do you mean 2 + 2 does not equal 5? Line them up against the wall and keep shooting them one by one until you find one that can give the right answer."

And in our folly WE created the gangsters. We wanted laws that we KNEW with a certainty would create corruption at all levels.

Here is another sector of the piracy:

http://www.ecnmag.com/blogs/2013/03/gre ... gy-pirates - I have a section on how the Italian Mafia profits from "Green" energy.

Well reality is about to strike back with a vengeance.

http://seekingalpha.com/article/1263961 ... bankruptcy

And the problem is universal. One half of the polity favors one type of corruption and the other half prefers a different type. The universal ?

They ALL Favor Corruption

It makes them feel like they are doing good when in fact they are doing evil.

Well I AM amused.

[MSimon]

The reason the Cyprus banks are in trouble is because they took a haircut on bailing out Greece, at the behest of the ECB/IMF/Banksters no less. Now those same entities are putting the same squeeze on them they did to Greece. It's incredibly stupid unless you want to deliberately collapse Southern Europe with bank runs, drive the depositors to safe havens in Northern Europe, and then pick up the assets for a song. Providing of course you don't collapse the entire system doing it, totally insane, hopefully some ripped off Russian mobsters will engage in a service to humanity and pay the banksters a visit.

The safe haven for now is the USD $. At least until our gangsters/banksters call in their chits.

http://www.madcowprod.com/2013/03/06/so ... -to-trial/

[MSimon]

How did we ever miss it? It is in our history books:

http://wiki.answers.com/Q/How_did_Al_Ca ... ol_Chicago

http://sayanythingblog.com/entry/shooti ... pone-days/

A police organization says: Reducing Gun Violence Isn’t About Gun Control – It’s About the Drug War. They are about to use the laws you wanted to disarm you.

We asked for the criminal law that put the criminals in power:

Origins and Growth of Al Capone’s Outfit: Chicago’s First Ward Democratic Organization and its Aftermath
Barack Obama ran for President with his headquarters in downtown Chicago. Obama's election night victory speech was just blocks away in Chicago's Grant Park. To historians of organized crime both locations are located in a significant place: Chicago's old First Ward. This valuable plot of land is where Chicago's Democratic Machine and Al Capone's criminal organization both began. The connection between the two is of great historical significance. Why? Because the Chicago Mob is nothing but an outgrowth of Chicago's old First Ward Democratic Organization.

Now you have to ask yourself why an obvious doper like Obama doesn't want an end to Prohibition? Simple. It is the source of his power.

I AM amused.

[MSimon]

The trouble we have today is the same trouble that Lot had in Biblical Days. There are not enough honest men in our nation.

We have turned vices into crimes and now the Lords of Vice rule us. In order to stamp out the devil we have made him more powerful.

I AM amused. Why? Because it is all so obvious.

[choff]

Now that I've recovered enough from the shock of what they're doing, I propose a non-violent solution for the people of Cyprus. They should, either as private citizens or with government collusion, start printing counterfiet Euro's. Get the other Southern EU countries to collude with them, and drive the value of the Euro down in the process of paying off the debts directly. It's no less criminal than what Brussels is planning to do with their country, and will actually prevent the collapse of civilization being perpetrated by the banksters. This would relieve the crisis in Southern Europe while defeating the German bankers plans to seize control of all Europe. The ECB will start printing money again eventually, but only after they've used these tight money tactics to consolidate wealth and power.

[paperburn1]

Banks have already acted to seal off the amount of the levy — a 6.75 percent tax on deposits under €100,000 and 9.9 percent on those above — so depositors can't access it. Bank customers still can draw on the rest of their funds via ATM machines this weekend, and nervous depositors did that on Saturday to drain their accounts. But the few banks that opened on Saturdays did so only briefly, and no international transfers will be able to go through until Tuesday, since Monday is a holiday. Cyprus' Parliament is expected to meet Sunday to pass the required legislation. The deal also needs the approval of several eurozone parliaments; it's unclear how fast they can act and what will happen to bank deposits in the meantime.
HAS THIS EVER HAPPENED BEFORE?
So far in the euro crisis, depositors have been protected. But in the 1990s, Italy levied a tax on every bank account to stave off the collapse of its lire currency. The rate, however, was minuscule — 0.06 percent — compared to what Cyprus is enacting. Iceland — another island with an outsized financial sector, although worse weather — also relied on depositors to prop up its banks. When the crisis hit there in 2008, Iceland protected its domestic deposits but reneged on deposit insurance for overseas, Internet-based accounts held by British and Dutch. Those two governments stepped in to help their citizens to the tune of $5 billion. The U.K. and the Netherlands sued Iceland unsuccessfully in a European court to get their money back, but Iceland has nevertheless started to repay some of that money.
European officials are promising that Cyprus is a unique case, and they are right in one aspect: the country's banks are overwhelmingly funded by deposits, so it wouldn't have been very fruitful to go after bondholders.
WHO IS AFFECTED?
All depositors — except those in Greek branches, which will be sold to Greek banks. EU and IMF creditors clearly wanted to protect struggling Greece, but perhaps also saw that Greece is the most likely place in the eurozone for a bank run. Protecting depositors there minimizes that possibility. Of the about €68 billion on deposit in Cypriot banks, foreigners hold about 40 percent — and most of those are Russians. Cyprus could have only gone after non-EU depositors, but it may have been hard to distinguish between Cypriot and Russian savers, Jacob Kirkegaard said, since many Russians have dual citizenship and many Russian businesses are registered on the island. Kirkegaard, who is a senior fellow at the Peterson Institute for International Economics in Washington, said Cypriots may paradoxically welcome this measure since the government just managed to widen its tax base to include a lot of Russians; the taxes levied in Greece, Portugal and Ireland were for residents alone to shoulder.


Read more: http://www.foxnews.com/world/2013/03/16 ... z2O0QQxYYr

[choff]

If that's the case then they should go after foreign depositors in N. Europes tax havens as well. But this sounds different from what I've been seeing in Cyprus on the Net, people tearing down the German flag, parking bulldozers in front of banks.