Topic: Greece, Euro, Global Economy is going to boost BTC.. IE Capital Controls - page 2. (Read 1607 times)
February 19, 2015, 01:18:00 PM
It's the Greek government who should put some capital control in place. All the money is leaving the country, and this government isn't doing anything. They just watch the beast bleeding. It will die soon.
February 19, 2015, 01:00:28 PM
I've been watching the BTC price climb at Coinbase; I think people are paying attention to this.
February 19, 2015, 12:40:43 PM
http://www.businessinsider.com/capital-controls-leak-in-greece-is-about-internal-politics-2015-2
Remember what happened when capital controls were put in place in tiny Cyprus… Well Greece is much larger, and it has a problem on its hands…. Oh look at Bitcoin trend higher as the markets near the end of the week.. (This week was a doozy in the global markets)
A report in a German newspaper on Thursday that the European Central Bank (ECB) discussed capital controls for Greece, which was subsequently denied by the ECB, highlights deep tensions within the institution.
Capital controls basically mean extremely tight restrictions on investments and deposits in banks.
When Cyprus brought in capital controls in 2013, ordinary people couldn't withdraw more than €300 from banks each day, and businesses couldn't send more than €5,000 abroad without proof that it was for international trade.
These rifts at the ECB threaten to make the problem for Greek banks all the more severe.
The thing that sets the ECB apart from other central banks is that it has to set policy for 19 countries, which means it has to cater to different governments that often have divergent needs and interests. Internal politics within the organisation are magnified because so many countries are involved. <------ The euro is done, and no other currency can fix this situation, bitcoin is hardly a fix but I guess it will be the best of the bad apples.
Read more: http://www.businessinsider.com/capital-controls-leak-in-greece-is-about-internal-politics-2015-2#ixzz3SDJKvjAl
Remember what happened when capital controls were put in place in tiny Cyprus… Well Greece is much larger, and it has a problem on its hands…. Oh look at Bitcoin trend higher as the markets near the end of the week.. (This week was a doozy in the global markets)
A report in a German newspaper on Thursday that the European Central Bank (ECB) discussed capital controls for Greece, which was subsequently denied by the ECB, highlights deep tensions within the institution.
Capital controls basically mean extremely tight restrictions on investments and deposits in banks.
When Cyprus brought in capital controls in 2013, ordinary people couldn't withdraw more than €300 from banks each day, and businesses couldn't send more than €5,000 abroad without proof that it was for international trade.
These rifts at the ECB threaten to make the problem for Greek banks all the more severe.
The thing that sets the ECB apart from other central banks is that it has to set policy for 19 countries, which means it has to cater to different governments that often have divergent needs and interests. Internal politics within the organisation are magnified because so many countries are involved. <------ The euro is done, and no other currency can fix this situation, bitcoin is hardly a fix but I guess it will be the best of the bad apples.
Read more: http://www.businessinsider.com/capital-controls-leak-in-greece-is-about-internal-politics-2015-2#ixzz3SDJKvjAl
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