Author

Topic: 2013-03-23 ABC News - Cyprus Crisis Boosting Unique Currency, the Bitcoin (Read 3347 times)

legendary
Activity: 2338
Merit: 1136
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
legendary
Activity: 1764
Merit: 1002
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.
donator
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?
legendary
Activity: 1708
Merit: 1020
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...
full member
Activity: 125
Merit: 100
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...   
legendary
Activity: 1764
Merit: 1002
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.
legendary
Activity: 1078
Merit: 1003


Who is this magical man?  I'd like him to sit where Mr. Drones is sitting right now.
legendary
Activity: 2338
Merit: 1136
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.
legendary
Activity: 4578
Merit: 3526
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.
legendary
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.
legendary
Activity: 2352
Merit: 1064
Bitcoin is antisemitic
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.
donator
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.
donator
Activity: 784
Merit: 1000

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.
legendary
Activity: 924
Merit: 1004
Firstbits: 1pirata
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
donator
Activity: 784
Merit: 1000
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 ?


full member
Activity: 125
Merit: 100


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?
legendary
Activity: 2352
Merit: 1064
Bitcoin is antisemitic
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.

sr. member
Activity: 316
Merit: 250
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?
donator
Activity: 784
Merit: 1000
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
full member
Activity: 125
Merit: 100
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.
donator
Activity: 784
Merit: 1000
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.
sr. member
Activity: 316
Merit: 250
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
full member
Activity: 125
Merit: 100
There is a lot of talk of France leaving the Euro too.   
sr. member
Activity: 316
Merit: 250
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.
hero member
Activity: 577
Merit: 500
merkel along with all world leaders are just puppets of the few the croocked the Elitests and will never be for the people  Angry
donator
Activity: 784
Merit: 1000
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.
sr. member
Activity: 316
Merit: 250
At this moment the whole amount in our business account is frozen including monthly wages for over 20 workers. Thank you merkel!

Do you think that people have to pay hard earned money out of their pockets to cover dirty games of EU politicians? I don't mean time deposits which generate some profit, but cash on current and business accounts.


first of all, merkel is not the only one making decisions. of course her word weights a lot, but that's because germany is the country who pays most of the amounts that is talked about.

second, those "dirty games of the EU" are caused because of decisions made by the local governments and local banks. the EU officials are just the ones who tell you the bad news, if you want to find the one who is responsible for them you have to search quite close next to you.

and BTW, calling someone a nazi has absolutely nothing to do with economical decisions. i don't call you "lazy ass who doesn't pay taxes" neither.
donator
Activity: 784
Merit: 1000
At this moment the whole amount in our business account is frozen including monthly wages for over 20 workers. Thank you merkel!

Do you think that people have to pay hard earned money out of their pockets to cover dirty games of EU politicians? I don't mean time deposits which generate some profit, but cash on current and business accounts.

sr. member
Activity: 316
Merit: 250
i don't know where you live, but keep in mind that most countries and their banks who are in trouble now have lived a lifestyle they just could not afford for years. this whole thing had to collapse.
paying 5% interest rate to clients while the rest of EU is at 1.5%-1% is just surreal.
don't blame merkel and the others, blame the one who brought us so far, and that are the governments of cyprus/italy/greece/spain.

This is exactly what EU rulers want to convince everybody of.
Did you try to research the situation around Cyprus ? Do you know that their problem appeared after Greece collapsed and the most of investments made by Cyprus had just evaporated?
Just read this http://abcnews.go.com/Business/cyprus-crisis-explained-idiot/story?id=18782212

FYI, I personally never took any loan. All my money were on current bank account, the money operated by my business. But nazi-chancellor-bitch insisted that Cyprus have to raid all bank accounts to collect necessary amount to pay country's debt. Really nice, yes?


calm down. i don't blame guys like you and average joe for what happened.
i know it is a shitty situation and if we wanted to prevent it we had to start like 10 years ago, at least. but at the moment, there are only two options. one of them is bancruptcy of cyprus. in that case everybody would lose most of their money due to massive inflation.
the other option is what is happening now and i hope you understand that this walks hand in hand with actions that affect everyone in cyprus.

i don't want to tell anyone what to do and think, but you can't expect other states to pay for your banks and debts and just wait for the next crash.
donator
Activity: 784
Merit: 1000
i don't know where you live, but keep in mind that most countries and their banks who are in trouble now have lived a lifestyle they just could not afford for years. this whole thing had to collapse.
paying 5% interest rate to clients while the rest of EU is at 1.5%-1% is just surreal.
don't blame merkel and the others, blame the one who brought us so far, and that are the governments of cyprus/italy/greece/spain.

This is exactly what EU rulers want to convince everybody of.
Did you try to research the situation around Cyprus ? Do you know that their problem appeared after Greece collapsed and the most of investments made by Cyprus had just evaporated?
Just read this http://abcnews.go.com/Business/cyprus-crisis-explained-idiot/story?id=18782212

FYI, I personally never took any loan. All my money were on current bank account, the money operated by my business. But nazi-chancellor-bitch insisted that Cyprus have to raid all bank accounts to collect necessary amount to pay country's debt. Really nice, yes?

sr. member
Activity: 316
Merit: 250
Love your avatar zeroday.  Wink

zeroday, your avatar tells me you are a) ignorant or b) plain dumb

Yes I'm ignorant dumb because I kept my money in EU bank. The bitch on my avatar have just stolen the most of my assets, along with funds of thousands of other ignorant dumbs like me.


i don't know where you live, but keep in mind that most countries and their banks who are in trouble now have lived a lifestyle they just could not afford for years. this whole thing had to collapse.
paying 5% interest rate to clients while the rest of EU is at 1.5%-1% is just surreal.
don't blame merkel and the others, blame the one who brought us so far, and that are the governments of cyprus/italy/greece/spain.
donator
Activity: 784
Merit: 1000
Love your avatar zeroday.  Wink

zeroday, your avatar tells me you are a) ignorant or b) plain dumb

Yes I'm ignorant dumb because I kept my money in EU bank. The bitch on my avatar have just stolen the most of my assets, along with funds of thousands of other ignorant dumbs like me.
sr. member
Activity: 316
Merit: 250
Love your avatar zeroday.  Wink

zeroday, your avatar tells me you are a) ignorant or b) plain dumb
full member
Activity: 125
Merit: 100
Love your avatar zeroday.  Wink
legendary
Activity: 1078
Merit: 1003
I bought something with dollars
I invested in the US Dollar

I bought something with bitcoins
I invested in Bitcoin.

Bitcoin is the software.
Bitcoin is the protocol.
bitcoins are the unit.

^ This.
legendary
Activity: 1078
Merit: 1003
Bitcoin is a digital currency.
Dollar is a fiat currency.
Euro is a fiat currency.

Yeah, I think we might need to adopt the "the".

Well, actually, they're all digital.

 Tongue

This Grin  The majority of money in this world are mere numbers in a system.
hero member
Activity: 784
Merit: 1000
0xFB0D8D1534241423
I bought something with dollars
I invested in the US Dollar

I bought something with bitcoins
I invested in Bitcoin.

Bitcoin is the software.
Bitcoin is the protocol.
bitcoins are the unit.
hero member
Activity: 509
Merit: 564
"In Us We Trust"
Bitcoin is a digital currency.
Dollar is a fiat currency.
Euro is a fiat currency.

Yeah, I think we might need to adopt the "the".

Well, actually, they're all digital.

 Tongue
full member
Activity: 210
Merit: 100
Bitcoin is a digital currency.
Dollar is a fiat currency.
Euro is a fiat currency.

Yeah, I think we might need to adopt the "the".
legendary
Activity: 2058
Merit: 1462
The Bitcoin
that makes sense.
The American Dollar
The Euro
etc
legendary
Activity: 1386
Merit: 1004
Quote
Currency markets are keeping close track of Cyprus' banking crisis and are braced for possible repercussions, but one currency has thrived in the chaos and zoomed in value -- Bitcoins.

SOURCE: http://abcnews.go.com/Business/cyprus-crisis-boosting-unique-currency-bitcoin/story?id=18792763

It's just been on the top of Google search for "Cyprus news"


Found it that way myself, not looking for anything bitcoin.  Wow.
hero member
Activity: 509
Merit: 564
"In Us We Trust"
sr. member
Activity: 247
Merit: 250
Quote
Although there are no physical coins, Walmart sells Bitcoin gift cards

They do?
donator
Activity: 784
Merit: 1000
Quote
Currency markets are keeping close track of Cyprus' banking crisis and are braced for possible repercussions, but one currency has thrived in the chaos and zoomed in value -- Bitcoins.

SOURCE: http://abcnews.go.com/Business/cyprus-crisis-boosting-unique-currency-bitcoin/story?id=18792763

It's just been on the top of Google search for "Cyprus news"
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