Wow. EU steals 10% of bank deposits in exchange for bailout

Before WW2 the matter of banks going bust was considered a serious matter in the UK. The local Cornish bank went tits up and the Directors were put in jail. None of this " just par for the course" US crappy thinking.
The deterrents worked up until recently. Nobody seems to care too much on the money merry-go-round these days. Disgraceful I reckon.

Jail the bastards

 

9 days before the cuts take effect.

Will they turn the heating off in Congress ? Hope so. Free Willy warmers for the guys ?

 

Excellent zerohedge commentary:

http://www.zerohedge.com/news/2013-03-18/depositor-repression-may-spread-swizterland-eurchf-spikes

Bottom line: it is becoming increasingly clear that "your" money is not welcome anywhere, and the the authorities would rather you withdrew it, and injected it into the economy, in a desperate attempt to raise the velocity of money.

In the meantime, it sucks to be a Russian billionaire oligarch: suddenly your money isn't welcome anywhere (unless of course that triplex in CPW is finally a bid, sight unseen). Well, except for Singapore... and Japan of course. One wonders what happens to the Yen exchange rate after all the marginal wealth in the world starts buying up JPY and parking its cash in this last true bastion of depositors safety.

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Wait, so they are creating bank runs on purpose thinking that billionaires will just go on a spending spree? How many iThings does Boris the billionaire need?

 

By Lidia Kelly and Alexei Anishchuk
MOSCOW | Mon Mar 18, 2013 9:23am GMT
(Reuters) - Russian President Vladimir Putin criticised on Monday a levy imposed by the European Union on bank deposits in Cyprus as unfair and setting a dangerous precedent.

"While assessing the proposed additional levy on bank accounts in Cyprus, Putin said that such a decision, should it be made, would be unfair, unprofessional and dangerous," Kremlin spokesman Dmitry Peskov told journalists.

Russian energy giant Gazprom has offered the Republic of Cyprus a plan in which the company will undertake the restructuring of the country’s banks in exchange for exploration rights for natural gas in Cyprus’’ exclusive economic zone, local media reported.

Representatives of the Russian company submitted the proposal to the office of Cypriot President Nicos Anastasiades on Sunday evening, Sigma TV reported.

The proposal states that Gazprom will fund the restructuring of the country’s crippled financial institutions in exchange for substantial control over the country’s gas resources while Cyprus won’t need to take the harsh bailout package offered by the EU.
http://uk.reuters.com/article/2013/03/18/uk-russia-putin-cyprus-idUKBRE92H07120130318

Putin is getting very very pissed off.....and Gazprom has offered to take over Cyprus.

 

I'm thinking some of Putin's personal money was hidden on Cyprus, that and/or his close corrupt buddies.
Gazprom = Russian government with all profits going to oligarchs. So in effect, Russia offered to take over an EU country - expansionist mentality dies hard.

 

putin is a true capitalist. . don't kid yourself. obama is planning to take over your pension plan. he is the true communist. then, what again can you see with the usual rah rah usa is #1 nonsense. the US is the same as Cyprus, Greece with 50 more or less bankrupt states e.g. california which is bigger than cyprus or greece.

you think the mayor of detriot or jessie jackson jr. are not buddies of obama?

 

Yeah you're right it has gone the other way. Russia is Capitalist and America is Socialist.

 

Russians say, "STUPID AMERICANS... they should have learned from our failed attempt at Communism"

 

Socialism and Capitalism are pretty similar. An elite controls the masses. The difference is who gets to be in the elite and how they control the masses.

 

Rumor has it that Putin's personal money is also at the Cypriot banks...