Just my $0.02....

Cyprus invested too heavily in Greek government bonds, much like american banks losing money with the decline of securities based on the failed subprime mortgages bundled in said securities. The Jerrys offered up the levy idea because they are in an election cycle and don't want european investors thinking the Jerrys support bailing out the commies, who are the heavy investors in Cyprus. I say "Fvck 'em."


The real question is, why has no one ever been held accountable in any country for making such poor investments?

So what's the FDIC/TAG insurance coverage on a Cypriot-style levy?

4th amendment, 2nd amendment, and 200+ million firearms.

They have about 3-4 million, not 300 million.

How is gun ownership going to prevent or solve a banking crisis? I'm having a hard time seeing how citizens with guns will take on the corporate police state in the event of run on the banks. Please enlighten me.

With apologies to Socrates, what if just like the depositors in Cyprus, most are lacking both the standing and capacity to make any claim much less one under the Bill of Rights?

“None are more hopelessly enslaved than those who falsely believe they are free.” - Johann Wolfgang von Goethe

Have you ever heard of Vietnam, or asymmetric warfare? Don't get me wrong I'm not suggesting insurrection, as I believe our path to salvation is the path to the ballot box. I just wanted to point out that history is replete with examples of world powers being defeated through attrition by inferior forces.

I had never heard of the Battle of Athens, thanks for that.

FP,
I really don't think it's quite as depressing as you make it out to be, but yes our situation is depressing.
Our federal government's job is to govern and protect, not to provide food, housing, schooling, etc.
The problem we face is that all government, under both party's leadership has grown too large and powerful, and now it needs to be governed. Also a great deal of the voting public has become accustomed to being provided for, and they are more than willing to make a deal with the "Devil", who is their provider.

I think that I'm going to watch that dog video again; it makes me feel good.

This sums it up for every person....

The finance ministers accepted the plan reached in 10 hours of negotiations in Brussels between Cypriot officials and the so-called troika of creditors: the International Monetary Fund, the European Commission and the European Central Bank.

"We believe that this will form a lasting, durable and fully financed solution," said IMF chief Christine Lagarde.

Under the plan, Cyprus' second-largest bank, Laiki, will be restructured and holders of bank deposits of more than 100,000 euros will have to take losses, Dijsselbloem said, adding that it was not yet clear how severe the losses would be.

"This will have to be worked out in the coming weeks," he added, noting that it is expected to yield 4.2 billion euros overall. Analysts have estimated investors might lose up to 40 percent of their money.


Guess we'll see how big of an EU bank run occurs in the next few days....

So four pages later, we are back to hiding money under the mattress?



I can't see there not being a civil war in Cyprus. There will be alot of people pushed over the edge if they lose 40 percent of their savings.

First it was banks small enough to fail.

Then it was banks too big to fail.

And now it's countries small enough to fail.

Next.......

Anyone ever play the game of Risk? Basically the strategy is to get all of your opponents to fight over every little thing while you sat back and watched and ultimately just cleaned up the pieces. If this was a game of Risk I'd pick China to win

this is what is next Brood:
http://www.zerohedge.com/news/2013-03-25/guest-post-say-goodbye-purchasing-power-dollar

...pay very close attention to the time intervals in the first chart.

Looks like the Fed is helping the 1%'rs

I would also like to know how it is that the Fed can finance the gov through the monthly purchase of gov bonds?

"Just like the government itself is a hybrid between a legitimate top level social order institution and an organized crime syndicate."

Your analogy would be funnier if it weren't so true. Fiat currency. When a critical mass believes we are using Monopoly money is when we get to the WTSHTF or also called TEOTWAWKI. When that happens, it's time to garner all weapons, food, and fuel and take refuge in Dogfish's bunker.