2013-03-23 ABC News - Cyprus Crisis Boosting Unique Currency, the Bitcoin

wachtwoord

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Quote from: zeroday on March 25, 2013, 11:02:33 AM

Cyprus crisis shows that rules has changed and every citizen is now responsible for their country's debt.
US will be glad to continue this practice. They already confiscated gold in 1933. That time they raided every bank cell to seize every piece of precious metal stored. What prevents them to raid the banks now?

Morals?

Oh wait, .... Cheesy

cypherdoc

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Quote from: Haole on March 24, 2013, 08:21:34 PM

Quote from: odolvlobo on March 24, 2013, 05:14:02 PM

Quote from: phelix on March 24, 2013, 04:41:08 PM

Banks in Cyprus payed 5% interest. Interest like that comes at a risk. You should have been aware of this.

The government of Cyprus guaranteed the deposits.

As of the latest news, they have guaranteed "insured" deposits (< 100K Euros) to prevent a pan-European bank run but those with over 100K are going to get absolutely raped. Laiki is going to be shuttered and "insured" accounts moved to Bank of Cyprus which will be allowed to survive with "haircuts".

Why there are not bank runs throughout Europe right now I have no idea...

oh there will be. by uninsured depositors.

zeroday

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Activity: 784

Merit: 1000

Cyprus crisis shows that rules has changed and every citizen is now responsible for their country's debt.
US will be glad to continue this practice. They already confiscated gold in 1933. That time they raided every bank cell to seize every piece of precious metal stored. What prevents them to raid the banks now?

phelix

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Merit: 1020

Quote from: Haole on March 24, 2013, 08:21:34 PM

Quote from: odolvlobo on March 24, 2013, 05:14:02 PM

Quote from: phelix on March 24, 2013, 04:41:08 PM

Banks in Cyprus payed 5% interest. Interest like that comes at a risk. You should have been aware of this.

The government of Cyprus guaranteed the deposits.

As of the latest news, they have guaranteed "insured" deposits (< 100K Euros) to prevent a pan-European bank run but those with over 100K are going to get absolutely raped. Laiki is going to be shuttered and "insured" accounts moved to Bank of Cyprus which will be allowed to survive with "haircuts".

Why there are not bank runs throughout Europe right now I have no idea...

As far as I know the US have even higher debt...

Haole

full member

Activity: 125

Merit: 100

Quote from: odolvlobo on March 24, 2013, 05:14:02 PM

Quote from: phelix on March 24, 2013, 04:41:08 PM

Banks in Cyprus payed 5% interest. Interest like that comes at a risk. You should have been aware of this.

The government of Cyprus guaranteed the deposits.

As of the latest news, they have guaranteed "insured" deposits (< 100K Euros) to prevent a pan-European bank run but those with over 100K are going to get absolutely raped. Laiki is going to be shuttered and "insured" accounts moved to Bank of Cyprus which will be allowed to survive with "haircuts".

Why there are not bank runs throughout Europe right now I have no idea...

cypherdoc

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Quote from: wachtwoord on March 24, 2013, 05:20:29 PM

Quote from: conspirosphere.tk on March 24, 2013, 12:34:21 PM

Quote from: gimme_bottles on March 24, 2013, 11:43:35 AM

you can't expect other states to pay for your banks and debts and just wait for the next crash.

The banks are not "his", nor their debt, nor the fucking "public debt" he never underwritten and most probably never received anything from apart taxes.

This. Bank deposits should not be guaranteed by government. Making other people pay for your own risk taking is unfair.

Now they should liquidate each bank and divide what's left between account holders. Subsequently if there is anything left (??) they can pay some bond holders based on bond seniority. Finally (only theoretically because there are insufficient funds for this) divide what's left amoung shareholders. This is how bankruptcies should be handled.

thats exactly right.

Mike Christ

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Quote from: conspirosphere.tk on March 24, 2013, 12:34:21 PM

Who is this magical man? I'd like him to sit where Mr. Drones is sitting right now.

wachtwoord

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Quote from: conspirosphere.tk on March 24, 2013, 12:34:21 PM

Quote from: gimme_bottles on March 24, 2013, 11:43:35 AM

you can't expect other states to pay for your banks and debts and just wait for the next crash.

The banks are not "his", nor their debt, nor the fucking "public debt" he never underwritten and most probably never received anything from apart taxes.

This. Bank deposits should not be guaranteed by government. Making other people pay for your own risk taking is unfair.

Now they should liquidate each bank and divide what's left between account holders. Subsequently if there is anything left (??) they can pay some bond holders based on bond seniority. Finally (only theoretically because there are insufficient funds for this) divide what's left amoung shareholders. This is how bankruptcies should be handled.

odolvlobo

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Quote from: phelix on March 24, 2013, 04:41:08 PM

Banks in Cyprus payed 5% interest. Interest like that comes at a risk. You should have been aware of this.

The government of Cyprus guaranteed the deposits.

phelix

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Activity: 1708

Merit: 1020

from the link you posted (http://abcnews.go.com/Business/cyprus-crisis-explained-idiot/story?id=18782212)

Quote

Cyprus asked for a bailout. But the Europeans were not exactly excited about bailing out another country, plus a bunch of billionaire Russian oligarchs and criminals. So, they told the Cypriots they had better come up with money on their own. The only place Cyprus could find large amounts of cash were in people's personal savings accounts.

The EU could just ignore Cyprus problems. They agreed to help under conditions that Cyprus comes up with a share of the needed money themselves.

Banks in Cyprus payed 5% interest. Interest like that comes at a risk. You should have been aware of this. It was the same with Greece btw. I hope you are aware that there is a risk with Bitcoin, too.

How come you loose all your money? It should be 20% max.

conspirosphere.tk

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Bitcoin is antisemitic

Quote from: zeroday on March 24, 2013, 01:18:04 PM

As I'm losing almost all of my fiat assets, I still have some bitcoins which i fortunately bought a year ago, and now I can only wish EU to collapse, which without doubts add value to my BTC savings. I know it's egoistic, but I don't care about EU absolutely the same way as they don't care about people.
I'm moving my business completely offshore, will keep my assets in precious metals and bitcoins. My workers will be paid by BTC and greedy EU assholes wont get a penny of their taxes.

Bravo!
Soon the rest of the euro-peasants will follow.

zeroday

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Activity: 784

Merit: 1000

As I'm losing almost all of my fiat assets, I still have some bitcoins which i fortunately bought a year ago, and now I can only wish EU to collapse, which without doubts add value to my BTC savings. I know it's egoistic, but I don't care about EU absolutely the same way as they don't care about people.
I'm moving my business completely offshore, will keep my assets in precious metals and bitcoins. My workers will be paid by BTC and greedy EU assholes wont get a penny of their taxes.

zeroday

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Activity: 784

Merit: 1000

Quote from: paraipan on March 24, 2013, 01:02:12 PM

Ah, so you know...
http://www.globalresearch.ca/the-true-story-of-the-bilderberg-group-and-what-they-may-be-planning-now/13808

Quote

They called themselves the Bilderberg Group with a membership representing a who’s who of world power elites, mostly from America, Canada, and Western Europe with familiar names like David Rockefeller, Henry Kissinger, Bill Clinton, Gordon Brown, Angela Merkel, Alan Greenspan, Ben Bernanke, Larry Summers, Tim Geithner, Lloyd Blankfein, George Soros, Donald Rumsfeld, Rupert Murdoch, other heads of state, influential senators, congressmen and parliamentarians

It seems that The Third Reich was not the worst nightmare on our planet.

paraipan

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Firstbits: 1pirata

Quote from: EndTheFed321 on March 24, 2013, 12:06:01 PM

merkel along with all world leaders are just puppets of the few the croocked the Elitests and will never be for the people Angry

Ah, so you know...

http://www.globalresearch.ca/the-true-story-of-the-bilderberg-group-and-what-they-may-be-planning-now/13808

zeroday

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Quote from: gimme_bottles on March 24, 2013, 12:30:40 PM

seriously, you are just needing one to blame. if that is your point of view, why don't you blame your government for joining the EU?

Do you think that seizure of private savings, to cover bankers odebts is OK? Is this the price to be paid for pleasure of holding Euro ?

Haole

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Quote from: gimme_bottles on March 24, 2013, 12:30:40 PM

seriously, you are just needing one to blame. if that is your point of view, why don't you blame your government for joining the EU?

What got you so interested in Bitcoin Mr. Barroso?

conspirosphere.tk

legendary

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Bitcoin is antisemitic

Quote from: gimme_bottles on March 24, 2013, 11:43:35 AM

you can't expect other states to pay for your banks and debts and just wait for the next crash.

The banks are not "his", nor their debt, nor the fucking "public debt" he never underwritten and most probably never received anything from apart taxes.

gimme_bottles

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Quote from: zeroday on March 24, 2013, 12:19:03 PM

Quote from: gimme_bottles on March 24, 2013, 12:10:53 PM

Quote from: zeroday on March 24, 2013, 12:04:50 PM

Check this thread to understand what is happening to Cypriots money now https://bitcointalk.org/index.php?topic=153959.160

This is all because merkel's and other EU bosses. They do it because they want to save EUR. But they do it the way exactly as Hitler did in 1933 by seizing private assets of Jews to raise Third Reich's economy.

so you think cyprus would be better off with leaving the euro and introduce a national currency?

leaving the euro would mean immediate bankruptcy for cyprus and probably a loss of most savings, because the banks just don't have as much money as their clients have on their accounts.

I'm, among thousands of others, already lost all my savings. Before joining eurozone Cyprus was small wealthy country because of enormous investments from around the world. But EU did all possible to collapse it and steal all the money.

seriously, you are just needing one to blame. if that is your point of view, why don't you blame your government for joining the EU?

zeroday

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EUR is just world's greatest hoax, created with intention to enslave and exploit smaller countries.
At this moment they are just dividing our money in Brussels.
http://www.bbc.co.uk/news/world-europe-21916102

Haole

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Quote from: gimme_bottles on March 24, 2013, 12:16:53 PM

Quote from: Haole on March 24, 2013, 12:13:53 PM

There is a lot of talk of France leaving the Euro too.

well, in case that happens i am glad i hold some bitcoins Grin

no seriously, with all respect, you can't compare an exit of cyprus with the exit of france

Of course it's not a good comparison and I wasn't trying to draw one. The moral of the story is that the Eurozone and it's failed communist currency project is on the verge of collapsing with Italy and Spain both toying with the idea of stealing private bank deposits.

Topic: 2013-03-23 ABC News - Cyprus Crisis Boosting Unique Currency, the Bitcoin (Read 3320 times)