Banks in Europe still haven't been recapped after the credit crisis. Basel III rules will raise their capital requirements. Spain is a basket case. Italy is wobbling. France is showing cracks. Normality bias causes people to keep calm and carry on, but the rot underlying the Euro system is deep and pervasive and won't be covered up forever. At least half of the debt in Europe has to be destroyed, in one way or another. I would be surprised if there were not another sovereign debt and/or Euro currency crisis in the next three years.
Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 30747. (Read 26712382 times)
December 23, 2013, 01:53:25 PM
December 23, 2013, 01:43:18 PM
New Cyprus plan is preparing as we speak on Eurozone (just a feeling that i have from mixing the puzzle )
Fiat holders have to enter as we speak or they will cry after...
Got more information about this?Fiat holders have to enter as we speak or they will cry after...
He's right. Read here:
http://www.europarl.europa.eu/news/en/news-room/content/20131212IPR30702/html/Deal-reached-on-bank-%E2%80%9Cbail-in-directive%E2%80%9D
Quote
The directive is to enter into force on 1 Jauary 2015 and the bail-in system is to take effect on 1 January 2016.
well, it's a way off then...
That is what they want you to think.
They will pass it then adjust the date later IF they need it.
This is absolutely true! In Cyprus' case, there was a whole machination going on at the time, whether to bail-in their "bad banks" with the WHOLE or PART amount of the creditors' accounts (stocks were accumulated immediately). This was not a political decision (even though the way to there, definitely was) rather than EU financial mob decision (after several back and forth to Russia for "loans").
For those who remember (you can look it up of course) the case started with BIG loans the Cyprus government were taking off (WITHOUT needing them) during 2011. The politicians involved saw their "loans" given away for free by the Banks who led Cyprus to its "bail-in"; more here: http://www.koutipandoras.gr/article/34827/apokleistiko-lista-fotia-se-poioys-politikoys-esvisan-daneia-stin-kypro
Sad thing is, that a VERY big number of "whale" creditors were drawing money out since the banking system got "locked down" for weeks back then. Those were mainly Russian residents (there are many Russians in Cyprus, since there's a law for anyone purchasing an expensive residence, gains automatically the Cyprus citizenship) plus BIG bankers and capitalists that led (ie:wiring) the money to the Greek banking system via the banking branches there (ie: Laiki Bank or Cyprus Popular Bank Public Co -> off their Marfin branch of Greece). Then Peireaus Bank accumulated Laiki Bank off their own money. Neat eh?
http://www.laiki.com/GR/Announcement/Pages/exLaikiAnnouncement.aspx
Whenever there's A LOT of money, there's always the way to STFU the mouths that talk too much. Most people STILL didn't get what went wrong with Cyprus; and most possible they won't see the same scenario coming for the whole EU. Believe me; this is NOT conspiracy. This is part of the news you will be hearing in the next few months.
Cheers.
December 23, 2013, 01:06:42 PM
c´mon guys - i need a lot more read candles to decorate the xmas tree
and BIG ones pls
and BIG ones pls
Red candles on the tree... sounds like someones about to burn down a house.
December 23, 2013, 12:59:12 PM
New Christmas song by Zhou Tonged! http://www.youtube.com/watch?v=OeTwwgm6Vsc
Bitcoin
the first currency with a soundtrack
December 23, 2013, 12:55:37 PM
c´mon guys - i need a lot more read candles to decorate the xmas tree
and BIG ones pls
and BIG ones pls
December 23, 2013, 12:54:28 PM
New Christmas song by Zhou Tonged! http://www.youtube.com/watch?v=OeTwwgm6Vsc
December 23, 2013, 12:33:56 PM
So banks are not safe, what else is new? 
Bitcoin is not safe (not 100%)
It's easier to steal bitcoins than fiat money in a bank account technically.
Bitcoin wallets only have 1 factor authentification (password), a few are even unecrypted. All it needs is a keylogger and the average joe will lose all his bitcoin holdings.
Nerds store them complete offline, but that doesn't help joe. He just don't have the skills to do it (or knows it's necessary).
Bitcoin wallets clearly need 2 factor authentification. Online wallets don't count, they are not safe!
Fiat money is trivial to steal.
Bitcoin at least can be secured (and retards won't but that's your own responsibility).
December 23, 2013, 12:25:10 PM
New Cyprus plan is preparing as we speak on Eurozone (just a feeling that i have from mixing the puzzle )
Fiat holders have to enter as we speak or they will cry after...
Got more information about this?Fiat holders have to enter as we speak or they will cry after...
He's right. Read here:
http://www.europarl.europa.eu/news/en/news-room/content/20131212IPR30702/html/Deal-reached-on-bank-%E2%80%9Cbail-in-directive%E2%80%9D
very good article thanks for that........ i wonder if the fiat holders have read that....
i might be wrong but most of the times i had a feeling was 100% right....
the same feeling i had before 2 years to enter BTC world.......
It says
"Press release - Economic and monetary affairs − 12-12-2013 - 10:16
Parliament and Council Presidency negotiators reached a political agreement Wednesday on the draft bank recovery and resolution directive, the first step towards setting up an EU system to deal with struggling banks. This directive will introduce the “bail-in” principle by January 2016, thereby ensuring that taxpayers will not be first in line to pay for bank failures."
I am a noob, but this sounds like: People have to fear LESS that their bank-money is taken away by them (therefore less interest to put money in bitcoin, not more). (?)
You didn't understand the whole thing I guess.
Bail-in basics
The directive establishes a bail-in system which will ensure that taxpayers will be last in the line to the pay the bills of a struggling bank. In a bail-in, creditors, according to a pre-defined hierarchy, forfeit some or all of their holdings to keep the bank alive. The bail-in system will apply from 1 January 2016.
Now is it clear?
Wonder what the pre-defined hierarchy of creditors is, and how high are peoples checking accounts are on that list. So as long as you don't own any bonds or have any money in any bank you're money will be taken last?
What's the fuzz about?
Quote
The bail-in tool set out in the directive would require shareholders and bond holders to take the first big hits. Unsecured depositors (over €100,000) would be affected last, in many cases even after the bank-financed resolution fund and the national deposit guarantee fund in the country where it is located have stepped in to help stabilise the bank. Smaller depositors would in any case be explicitly excluded from any bail-in.
December 23, 2013, 12:23:43 PM
So banks are not safe, what else is new?
Bitcoin is not safe (not 100%)
It's easier to steal bitcoins than fiat money in a bank account technically.
Bitcoin wallets only have 1 factor authentification (password), a few are even unecrypted. All it needs is a keylogger and the average joe will lose all his bitcoin holdings.
Nerds store them complete offline, but that doesn't help joe. He just don't have the skills to do it (or knows it's necessary).
Bitcoin wallets clearly need 2 factor authentification. Online wallets don't count, they are not safe!
TREZOR?
December 23, 2013, 12:18:46 PM
New Cyprus plan is preparing as we speak on Eurozone (just a feeling that i have from mixing the puzzle )
Fiat holders have to enter as we speak or they will cry after...
Got more information about this?Fiat holders have to enter as we speak or they will cry after...
He's right. Read here:
http://www.europarl.europa.eu/news/en/news-room/content/20131212IPR30702/html/Deal-reached-on-bank-%E2%80%9Cbail-in-directive%E2%80%9D
Quote
The directive is to enter into force on 1 Jauary 2015 and the bail-in system is to take effect on 1 January 2016.
well, it's a way off then...
December 23, 2013, 12:11:14 PM
Dude....zhoutonged can actually sing! (if that's him) http://www.youtube.com/watch?v=Di5NSU5yuKE&hd=1
December 23, 2013, 12:02:37 PM
To the plataue! ------>
December 23, 2013, 11:56:05 AM
Let us not forget the Thanksgiving manipulation. I bet the opposite happens at Christmas.
December 23, 2013, 11:33:55 AM
Satanist bears trying to keep it a 666 for the baby jebuses birthday. for shame
THAT'S BETTER!!!
$669.99999
December 23, 2013, 11:30:05 AM
Satanist bears trying to keep it a 666 for the baby jebuses birthday. for shame
December 23, 2013, 11:11:55 AM
May I please REPEAT myself?
Thankya...
I'd prefer more of a prettier figure like $696.969696969
It's FREAKING CHRISTMAS!
It's FREAKING CHRISTMAS!
Thankya...
December 23, 2013, 11:06:53 AM
Wonder what the pre-defined hierarchy of creditors is, and how high are peoples checking accounts are on that list. So as long as you don't own any bonds or have any money in any bank you're money will be taken last?
Yep. This is pretty much accurate. In Cyprus they took every cent above 100,000euro creditors. I've watched a show about it; one of them was the "economic nobel prize" winner, a professor in economics who got 1,000,000 of euro as his prize and he was left with 100,000...
Yeah, that's quite volatile...
Zhou Tonged - Cyprus Anthem
http://youtu.be/yc6Hp_Zq3rU
More volatility than BTC in a year
December 23, 2013, 11:04:27 AM
Wonder what the pre-defined hierarchy of creditors is, and how high are peoples checking accounts are on that list. So as long as you don't own any bonds or have any money in any bank you're money will be taken last?
Yep. This is pretty much accurate. In Cyprus they took every cent above 100,000euro creditors. I've watched a show about it; one of them was the "economic nobel prize" winner, a professor in economics who got 1,000,000 of euro as his prize and he was left with 100,000...
Yeah, that's quite volatile...
Zhou Tonged - Cyprus Anthem
http://youtu.be/yc6Hp_Zq3rU
December 23, 2013, 10:56:57 AM
Wonder what the pre-defined hierarchy of creditors is, and how high are peoples checking accounts are on that list. So as long as you don't own any bonds or have any money in any bank you're money will be taken last?
Yep. This is pretty much accurate. In Cyprus they took every cent above 100,000euro creditors. I've watched a show about it; one of them was the "economic nobel prize" winner, a professor in economics who got 1,000,000 of euro as his prize and he was left with 100,000...
December 23, 2013, 10:55:40 AM
New Cyprus plan is preparing as we speak on Eurozone (just a feeling that i have from mixing the puzzle )
Fiat holders have to enter as we speak or they will cry after...
Got more information about this?Fiat holders have to enter as we speak or they will cry after...
He's right. Read here:
http://www.europarl.europa.eu/news/en/news-room/content/20131212IPR30702/html/Deal-reached-on-bank-%E2%80%9Cbail-in-directive%E2%80%9D
very good article thanks for that........ i wonder if the fiat holders have read that....
i might be wrong but most of the times i had a feeling was 100% right....
the same feeling i had before 2 years to enter BTC world.......
It says
"Press release - Economic and monetary affairs − 12-12-2013 - 10:16
Parliament and Council Presidency negotiators reached a political agreement Wednesday on the draft bank recovery and resolution directive, the first step towards setting up an EU system to deal with struggling banks. This directive will introduce the “bail-in” principle by January 2016, thereby ensuring that taxpayers will not be first in line to pay for bank failures."
I am a noob, but this sounds like: People have to fear LESS that their bank-money is taken away by them (therefore less interest to put money in bitcoin, not more). (?)
You didn't understand the whole thing I guess.
Bail-in basics
The directive establishes a bail-in system which will ensure that taxpayers will be last in the line to the pay the bills of a struggling bank. In a bail-in, creditors, according to a pre-defined hierarchy, forfeit some or all of their holdings to keep the bank alive. The bail-in system will apply from 1 January 2016.
Now is it clear?
Ah, thanks a lot! People who have money on that bank will pay before the state/taxpayers.
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