Any comments?
I would just store cryptocoins and gold/silver coins in my possession. Ideally with canned beans (I am long canned beans).
Topic: European Union is robbing its citizens' bank accounts. 9.9% to be confiscated. - page 9. (Read 33197 times)
March 23, 2013, 09:59:15 AM
I would just store cryptocoins and gold/silver coins in my possession. Ideally with canned beans (I am long canned beans).
March 23, 2013, 09:57:56 AM
What to do? Can't invest everything in bitcoins and can't trust banks.
March 23, 2013, 09:55:48 AM
Planning to use Bitcoin-central or MtGox as a bank account for storing Euros. It will not earn interest but still we can make money by trading from time to time. Any comments?
A very, very bad idea.
March 23, 2013, 09:50:47 AM
Planning to use Bitcoin-central or MtGox as a bank account for storing Euros. It will not earn interest but still we can make money by trading from time to time. Any comments?
March 23, 2013, 09:39:55 AM
Not to worry Americans, this is an EU thing!
Your dollars are safe. Something like this could never, ever happen to a Federal Reserve bank. They're all totally solvent. I promise.... In fact, buy some more US bonds! They're the safest financial bet you can make.
Your dollars are safe. Something like this could never, ever happen to a Federal Reserve bank. They're all totally solvent. I promise.... In fact, buy some more US bonds! They're the safest financial bet you can make.
March 23, 2013, 09:18:08 AM
Who do you think will end up holding all the bad bailout debts once all other EU countries default?
the serfs
March 23, 2013, 09:13:39 AM
Please answer this important question.. Does this apply to ALL EU countries, in particular Germany and France
Who do you think will end up holding all the bad bailout debts once all other EU countries default?
March 23, 2013, 09:12:19 AM
Please answer this important question.. Does this apply to ALL EU countries, in particular Germany and France
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
March 23, 2013, 08:39:59 AM
This is the exact reason we need to get bitcoin in shops everywhere. I think in weeks to come we will see a huge influx in bitcoin users and media attention. I would be furious if the government stole 9.9% of my hard earned.
I guess this goes back to the question of do you use bitcoin as your checking account or your savings account? If you want to use bitcoin to replace credit cards, debit cards, checks, cash payments, etc, then yes it is important to get merchants to accept bitcoins.
On the other hand, if you treat bitcoins more like a savings account, then no, it does not matter if anybody ever accepts bitcoins in their shops. If you want to buy something, simply take your money out of savings, convert to whatever local currency happens to be in fashion and purchase your goods. In this use case, we should help build up the bitcoin exchange network so there is a quick and easy way to go in and out of bitcoins where ever you are. Bitcoin ATMs would be good for this.
March 23, 2013, 05:23:26 AM
This is the exact reason we need to get bitcoin in shops everywhere. I think in weeks to come we will see a huge influx in bitcoin users and media attention. I would be furious if the government stole 9.9% of my hard earned.
March 23, 2013, 01:01:17 AM
How Cyprus could affect Germany, UK and USA. The domino effect.
http://www.youtube.com/watch?v=oX0sed2q1-8
http://www.youtube.com/watch?v=oX0sed2q1-8
March 22, 2013, 03:31:40 PM
This is the kind of 'tax' that started the American revolution.
I think the stamp act was much smaller than 10 %.
The population was less docile and brainwashed too. They can get away with much more now.
hero member
Activity: 756
Merit: 500
It's all fun and games until somebody loses an eye
March 22, 2013, 03:26:07 PM
This is the kind of 'tax' that started the American revolution.
I think the stamp act was much smaller than 10 %.
March 22, 2013, 02:56:53 PM
This is the kind of 'tax' that started the American revolution.
I'd argue, as you suggest, that this isn't even a tax. It's just a robbery. At least in theory, a tax is something proposed in a legislature and with some advance warning, so that the voters can get input (or throw the bums out of office).
The advance warning allows rational actors to modify their behavior to reduce (or in some cases eliminate) their tax burden. In this case, people would have chosen either not to deposit their money in these banks or to deposit it elsewhere (or move to Bitcoin).
This is more of a naked robbery than a tax.
March 22, 2013, 12:38:44 PM
This is the kind of 'tax' that started the American revolution.
The Cypriots were cool with bailing out the banks of Greece, Ireland, Romania, Hungary, and Portugal. Surely they won't revolt over being asked to bail out their own banks. 
March 22, 2013, 12:13:32 PM
The bank deposit levy is still on the table and they are set to release a new agreement very soon and vote on it tonight. This isn't an abstract financial issue with high power money shifting between crooked bean counters any more. This is a military situation. I don't think the Cypriots will let any of those elected officials live if they levy their bank accounts. They're dealing with more than a few riots like in Greece here, they are risking revolution. This is the kind of 'tax' that started the American revolution.
Is Merkel really ready to send troops to protect her corrupt banker buddies? I wonder if Russia would send troops to counter that, seeing as how they probably don't like Cyprus being in the EU any more than the Cypriots. If this really blows up it might turn into a proxy war.
I'm following the live blog on the guardian here:
http://www.guardian.co.uk/business/2013/mar/22/eurozone-crisis-cyprus-bailout-russia-vote
Is Merkel really ready to send troops to protect her corrupt banker buddies? I wonder if Russia would send troops to counter that, seeing as how they probably don't like Cyprus being in the EU any more than the Cypriots. If this really blows up it might turn into a proxy war.
I'm following the live blog on the guardian here:
http://www.guardian.co.uk/business/2013/mar/22/eurozone-crisis-cyprus-bailout-russia-vote
March 22, 2013, 11:57:58 AM
Eurozone finance ministers are going to rob people twice. First, they will steal 40% of amounts by selling the bank with discount. Then, they will tax it with 9.36% levy and freeze remaining money for several years.
This affects all small and medium businesses who have current accounts with over 100k. Most of them will go bankrupt and fire they workers. Thousands of people will become jobless.
This affects all small and medium businesses who have current accounts with over 100k. Most of them will go bankrupt and fire they workers. Thousands of people will become jobless.
Quote
Laiki Bank - the island's second largest lender - is wound down. Depositors' first €100,000 are hived into the Bank of Cyprus. Everything else is put into a bad bank, and sold off, likely at a 20pc to 40pc discount. Since a wind-down of Laiki means it will not need recapitalised, this part of the plan takes care of the first €2.3bn of the €5.8bn that Cyprus must raise to qualify for its €10bn troika bailout.
So where to get the remaining €3.5bn? Since the troika royally rejected the idea of a 'solidarity fund', largely over objections to nationalising some pension funds, the bank levy is thought to be back on the table. According to information on the spread of deposits (see table in 12.47), a 9.46pc levy - lower than the 9.9pc proposed in the Eurogroup's original plan - on deposits over €100,000 would do the trick.
Under such an arrangement, the biggest losers would be those with deposits over €100,000 in Laiki Bank, who could be charged a 9.46pc levy and have any deposit over €100,000 swallowed into the 'bad bank' and sold off at a discount, losing as much as 40pc of its value. As Open Europe argued earlier (13.27), they could, in effect, be hit twice.
SOURCE: telegraph.co.ukSo where to get the remaining €3.5bn? Since the troika royally rejected the idea of a 'solidarity fund', largely over objections to nationalising some pension funds, the bank levy is thought to be back on the table. According to information on the spread of deposits (see table in 12.47), a 9.46pc levy - lower than the 9.9pc proposed in the Eurogroup's original plan - on deposits over €100,000 would do the trick.
Under such an arrangement, the biggest losers would be those with deposits over €100,000 in Laiki Bank, who could be charged a 9.46pc levy and have any deposit over €100,000 swallowed into the 'bad bank' and sold off at a discount, losing as much as 40pc of its value. As Open Europe argued earlier (13.27), they could, in effect, be hit twice.
March 22, 2013, 08:29:08 AM
http://www.nytimes.com/2013/03/22/business/global/eurogroup-chief-takes-some-blame-for-cyprus-crisis.html?_r=0
“Whether we are incompetent or not, I’ll leave up to you to judge.”
~Jeroen Dijsselbloem, Dutch finance minister who announced the plan to steal money from depositors on Cyprus~
“Whether we are incompetent or not, I’ll leave up to you to judge.”
~Jeroen Dijsselbloem, Dutch finance minister who announced the plan to steal money from depositors on Cyprus~
Incompetent retarded thief. He already stole a bank in Holland (SNS) from its shareholders. I would not trust this guy with a nickle.
SNS was a hotpot of dodgy deals.
At least this deal secured the deposits.
Meanwhile you can say that it is the shareholders fault that they let their bank take such risks.
All i see is big crocodile tears (
).Or do you think that shareholders should be shielded from risk by using the deposits of the customers?
If there is anyone incompetent and retarded its the management and shareholders of SNS/Real.
But in all fairness, retardness and incompetance are common in humans exposed to lots of money and power so it kindof figures.
March 22, 2013, 02:54:53 AM
if it's really true that the Russian mob has stashes of money on Cypriot banks..... I don't think it's a safe thing to take 40% of their money like this.
Do your prefer your poisioning by high-speed lead or polonium? 
March 22, 2013, 02:48:16 AM
What? Have those EUbitches went suicidal now?
Literally, I'd say. I mean, if it's really true that the Russian mob has stashes of money on Cypriot banks..... I don't think it's a safe thing to take 40% of their money like this.
Jump to: