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CYPRUS : BANK RUNS HAVE STARTED !
03-19-2013, 06:16 PM,
#16
RE: CYPRUS : BANK RUNS HAVE STARTED !
It looks like New Zealand might be next ?



National planning Cyprus-style solution for New Zealand
Tuesday, 19 March 2013, 11:32 am
Press Release: Green Party

http://www.scoop.co.nz/stories/PA1303/S00306/national-planning-cyprus-style-solution-for-new-zealand.htm

National planning Cyprus-style solution for New Zealand


The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts, the Green Party said today.

Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.

“Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand – a solution that will see small depositors lose some of their savings to fund big bank bailouts,” said Green Party Co-leader Dr Russel Norman.
"They scare us all with threats of war. So we forget just how bad things are." 'Open Your Eyes' - Lords Of The New Church 1981



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03-20-2013, 04:09 AM,
#17
RE: CYPRUS : BANK RUNS HAVE STARTED !
Interestingly we see people flock to digital currency. By design?

BitCoin hit an all time high after the bank runs.

Is Bitcoin the New Safe-Haven Currency? Bitcoins Surge After Cyprus Bank Raid
Tuesday, March 19, 2013
[Image: bitcoin+spike+cyprus+(550+x+249).jpg]
http://www.activistpost.com/2013/03/cyprus-bank-raid-bitcoins.html

I have thoughts on Bitcoin and other digital currencies - but that discussion is on this thread..

Will encrypted peer-to-peer currencies make banks obsolete? BitCoin, ECash Ripple ..
http://concen.org/forum/thread-39934.html

Gold has moved a bit too but not nearly as much since the price is set much like LIBOR interest rates and Oil
[Image: au2013.gif] [Image: aumar13.gif]
http://concen.org/forum/thread-46297-post-257466.html#pid257466

Silver really hasn't reacted at all .. yet.
There are no others, there is only us.
http://FastTadpole.com/
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03-20-2013, 11:40 PM,
#18
RE: CYPRUS : BANK RUNS HAVE STARTED !
Cyprus banks to remain shut until Tuesday amid bailout crisis

http://worldnews.nbcnews.com/_news/2013/03/20/17384301-cyprus-banks-to-remain-shut-until-tuesday-amid-bailout-crisis?lite

Banks in Cyprus will remain closed until Tuesday as the country tries to avert financial meltdown after rejecting the terms of a controversial bailout, turning instead to Russia for help. An official said banks, which been shut for days amid fears of a run on savings, will stay closed on Thursday and Friday, CNBC and Reuters reported. Monday is a public holiday.

The Cypriot finance minister is holding talks with his Russian counterpart, asking for an alternative bailout - after the terms of a European deal were rejected. Jonathan Rugman Channel Four Europe reports. Earlier, Germany said the banks were effectively insolvent and might never open at all unless Cypriot political leaders accepted a bailout deal.


Thousands of Cypriots withdrew savings after the unexpected European Union announcement that it would provide $12.9 billion in exchange for up to 10 per cent of the value of all bank deposits – a move that would have thrown the Mediterranean island a lifeline but hundreds of thousands of citizens out of pocket.
"They scare us all with threats of war. So we forget just how bad things are." 'Open Your Eyes' - Lords Of The New Church 1981



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03-21-2013, 07:49 PM,
#19
RE: CYPRUS : BANK RUNS HAVE STARTED !
The Cyp-Riots Begin - Live Stream
http://www.zerohedge.com/news/2013-03-21/cyp-riots-begin

Local TV station CYBC reports that police in the Cyprus' capital are scuffling with protesters (including employees of Cyprus Popular Bank) outside the nation's parliament:
*CYPRUS POLICE CLASH WITH BANK EMPLOYEES OUTSIDE PARLIAMENT
*CYPRUS SCUFFLES BROADCAST LIVE ON STATE-RUN CYBC
CYBC says more protesters gathering at Parliament House
"They scare us all with threats of war. So we forget just how bad things are." 'Open Your Eyes' - Lords Of The New Church 1981



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03-21-2013, 09:04 PM,
#20
RE: CYPRUS : BANK RUNS HAVE STARTED !
I want to see some video of Bankers and Legislators swinging by the neck from traffic lights.

That would be cool.
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03-21-2013, 11:23 PM, (This post was last modified: 03-21-2013, 11:24 PM by macfadden.)
#21
RE: CYPRUS : BANK RUNS HAVE STARTED !
thokling Wrote:and if my understanding is even close to how things work governments don't control money; governments just issue the orders based on what the corporations which control the money dictate, and we people are enslaved to currencies while, for the most part, we're kept under the illusion that "the money I have is mine".

That's exactly right, and a debt free fiat money governed democratically by the public would solve a good part of those problems.

thokling Wrote:But time and time again, it's been proven that money can be devalued rather quickly regardless of what the majority want. Hence, it's a minority that has ultimate control over money.

Only because the majority is willing to tolerate that arrangement, that doesn't have to be.

thokling Wrote:With these in mind, the question arises: with how dependent the world is on government-sanctioned currency, what could possibly be used to replace it while maintaining the individual levels of societies on the planet?

Debt free, publicly controlled fiat, it could be done quite easily and relatively painlessly if done right.


thokling Wrote:The last thing we'd really want is to cause billions to starve because a shift in currency took control away from the corporations we currently rely upon to feed and clothe us, so such a new system would have to be introduced gradually, while keeping TPTB at bay because anything that threatens their control will be met with retaliation.

Anything that wouldn't provoke the wrath of the great and the good wouldn't really be worth doing. It wouldn't matter how gradually the reforms were implemented, TPTB are a pretty paranoid and reactionary bunch, they would see it coming a hundred miles off. It would be best just to do what needs doing, come what may. Any retaliation would just further expose them for who they are and what they're all about.
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03-22-2013, 11:02 PM,
#22
RE: CYPRUS : BANK RUNS HAVE STARTED !
Straight shooter John Loefeller discusses what happened and offers insight as to what is 'round the bend.

Steel on Steel - March 23, 2013 - The Cypress Crisis and Global Currencies



https://www.youtube.com/watch?v=oFbsy8ahA-U
There are no others, there is only us.
http://FastTadpole.com/
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04-02-2013, 09:17 PM,
#23
RE: CYPRUS : BANK RUNS HAVE STARTED !
Quote:List Released With 132 Names Who Pulled Cyprus Deposits Ahead Of "Confiscation Day"
Submitted by Tyler Durden on 04/01/2013 12:51 -0400

With every passing day, it becomes clearer and clearer the Cyprus deposit confiscation "news" was the most unsurprising outcome for the nation's financial system and was known by virtually everyone on the ground days and weeks in advance: first it was disclosed that Russians had been pulling their money, then it was suggested the president himself had made sure some €21 million of his family's money was parked safely in London, then we showed a massive surge in Cyprus deposit outflows in February, and now the latest news is that a list of 132 companies and individuals has emerged who withdrew their €-denominated deposits in the two weeks from March 1 to March 15, among which the previously noted company Loutsios & Sons which is alleged to have ties with the current Cypriot president Anastasiadis.

From Sigma:

Money transfers made within 15 days, namely from 1 until March 15. On Friday, March 15, had met the Eurogroup, which officially decided to impose a tax on deposits by companies and individuals in all financial institutions in Cyprus.

These 132 companies and individuals have withdrawn all deposits in euros, dollars and rubles, which were transferred to other banks outside Cyprus.

The disclosure of the list, which shows that the outflow of deposits from local banks other financial institutions outside Cyprus became massively raises suspicion that some had inside information about the decisions taken by the other 16 eurozone countries in exchange for financing deficits of the economy.

In listings, and the company is Loutsios & Sons Ltd, which carried 21 million deposit in a UK bank, while the owner of the company is alleged to have family ties with the President of the Republic, Nikos Anastasiadis.

The first column are names of companies and individuals in the second record of the amounts withdrawn in the third column refers to the amount withdrawn in the same currency, the currency in the fourth and the fifth and last column refers to the date of transfer.

       
       

So, ironically enough, in answer to our question from last week, "So Who Knew", the answer appears to be everyone.
http://www.zerohedge.com/news/2013-04-01/list-released-132-names-who-pulled-cyprus-deposits-ahead-confiscation-day
There are no others, there is only us.
http://FastTadpole.com/
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