41 Replies to “I Amuse Myself”

  2. Paper money can and will be confiscated by government terrorists any time they want. Gold is not traceable which makes their theft much harder.

  4. This should be interesting….like the chinese curse….
    Cypriots are volatile…..high performance…zero to full riot in no time flat…
    It was said that an irishman always kept a pike in the thatch…Cyriots keep sten guns……

  6. A blanket tax that appears to make people pay “Their Fair Share”, will hit the middle class, lower class and seniors the hardest. Those are the ones that don’t have gold reserves or out of country accounts. Would like to see recent bank transactions in the weeks leading to this, politicians wouldn’t cast a net like this without ensuring those closest know where it was being thrown.

  7. This is going to be bad and I have a hard time thinking that they have not foreseen the likely result. Why keep money in a bank when it might be stolen and you don’t get any interest? I have a hard time believing that this won’t lead to a bank run all over Europe and that the powers that be don’t realize this will happen.

  8. Ha i would be buying gold and silver by the boat load right now!!
    this is going to be it i think this will be the one that set’s it all off ..and to that end i say FINALLY! the only way to recover from anything it to hit rock bottom so let the ass fall out of everyone of these (including our own canada and usa) countries that think running massive debt and social programs and not being able to say no is o.k.!
    As CAPTAIN CAPITALISM says
    Enjoy the decline!!

  9. And on CNBC the talking heads and Obama, Bernanke and others of that ilk. Will be arguing that a PIGS Ass isn’t pork.

  10. This is going to end badly for the EU. Nameless EU bankers stealing from the working class to keep corrupt bankers in caviar and champagne. That’s the story the people are going to hear all over Europe. I’m betting the bank run will be more of a stampede.

  15. Remember that the RCMP raided people’s houses in WWII if they were suspected of “hoarding” food. Next time they will be looking for guns and gold. Good hiding places are essential.

  16. Ah the joys of fractional reserve banking. The late Murray Rothbard, doyen of the “Austrian” school of economics, pointed out that it is in effect counterfeiting sanctioned by the national government.
    Isn’t this type of confiscation called a “haircut” in financial circles? There were a lot of those back a year or so. Big ones, too.

  17. Word is that the EU and Germany went the extra mile to confiscate because 1) makes it easier for Merkel to win re-election and 2) the Cypriot banking system is a laudering-mat for Russia crime syndicates. That’s who we have in charge. People willing to destroy banking systems to get at money laundering. Think about it and just let the terror seep in.

  18. Smash it all to smithereens.
    Bankers , lawyers , union leaders and politicians heads on pikes , then we can rebuild.
    And a Phoenix will Rise from the ashes once we burn it to be ground !!!!!

  19. It appears that the Cyprus gov’t wants to change the ratios of garnishee to something like:
    12.5% over 100,000. E.
    3.5% under 100,000. E.
    possible exemption for those accounts under 25,000. E.
    Announcement sometime tomorrow. I suppose they need to gauge the outrage to follow in Asia, if any.
    I cannot imagine too many folks think it’s safe to keep their funds in the banks within Greece, Italy, Ireland, Portugal, Spain.
    The fat lady hasn’t sung yet. I admit to being a bit surprised at Ireland’s plight:
    http://www.zerohedge.com/news/2013-03-16/everyone-shocked-what-just-happened-and-why-just-beginning

  20. I trust Christine Lagarde has good bodyguards. The Russian oligarchs are likely to take this personally.

  23. If, your politicians spend like drunken sailors,
    And if, on your breath is the smell of rum,
    Remember well, the barman must be paid.
    Pub Economics 101

  24. Well, Mrs Thatcher, the socialists have finally run out of money, so now they ae going to steal it.

  25. For those who reflexively look into buying gold at a time like this, any increase in the price of gold for those who don’t already own it is a tax on the stupid. One of the stupidest financial decisions I made was to not buy shares in a gold mine of one my late patients; the guy was a master snake oil salesman of gold mine shares, but in this case he had really struck it very rich. At least I got invited to his quite aelaborate wake.
    Just think about it: how many people now are going to accept gold in payment for an item? I’m withdrawing as much cash as possible from my bank account at a rate that doesn’t attract attention of statists and my budget for the next local gun show is $5K (or more if there are some deals to be had). Just about bought a .50 cal rifle at the last gun show but then pondered the $10/round cost and the need to start reloading if I wanted to do any serious shooting with this rifle. Still, the ability to reach out and touch someone at a range of 2 miles will be a real advantage when the SHTF.
    Hiding cash is easy and, during a breakin that I had in my Vancouver apartment, $5000 was not found by the criminals just because I don’t store cash in the usual places. My wife was infuriated that I kept this much cash at home, but the amount I’ll be keeping at home will be considerably larger now. When one gets absolutely no interest on ones deposits, there’s no incentive whatever to keep money in a bank and what I find curious is how nervous tellers get when I tell them I want to withdraw $9,999 from my account. Cash discounts are to be had in all sorts of places if one dispenses with the need for a receipt. My Russian mob patients in Vancouver were quite insistent that I didn’t give them a receipt when they paid cash as the transaction for medical services rendered was “just between us”.
    Look for various members of the IMF to suffer mysterious deaths in “accidents” over the coming weeks. Perhaps the Russian mob won’t be as interested in targeting the banksters as it will be in targeting their families who will be the ones suffering unfortunate fatal “accidents”. This is an organization that one doesn’t want to piss off like the IMF has done big time. Given the public hatred of banksters, likely not many people are going to give a rats ass if members of banksters families disappear. The members of the Russian mob who I got to know in Vancouver were very low key, had a shared hatred of statists, very pleasant to deal with but there was that barely stated line which, if one crossed, might result in extreme violence. I consider them higher quality than N. American criminals as they had to flourish in a totalitarian state. Thus, they are both more subtle and more brutal than the typical Canadian gangster. Fortunately they only seem to be attracted to large Canadian cities.
    WRT cgh’s comments about the IMF having good body guards, there are a lot of Russian ex-Spetsnaz who are in the business of providing “security services” to various Russian “businessmen”. Either the IMF banksters have let their arrogance over-rule their common sense or they are just over confident. I’ll bet on the Spetsnaz operators unless the IMF has ex-Seals as bodyguards.

  26. Loki, wasn’t it Mark Twain who said: “A mine is a hole in the ground with a liar at the top?”

  27. So much wrong here. Everything from how they got to where they are to this particular action.
    I think the major sin is confiscating the money below the deposit guarantee of 100,000 Euro. At least if you maintained that line it could be the funds above 100,000 would have disappeared in a bankruptcy.
    But that assumes you should even do thi sin the first palce.
    So why Cypress? Small enough to draw a line on. Greece had too many ties to continental Europe and too large a problem.
    This is a signal to wealthy Italian and Spainish indivicuals. Mind you they will just remove their funds and put it in Germany, Switzerland or the UK. So this is going to be like firing a gun in a herd and the stampede will start.
    This is a precedent that nobody should be happy with.
    However the Cypriot Banking system has long been known to be riddled with problems, laundering etc. There is a rough justice to what the Germans are insisting on. The Cypriot people through their government let their banking system become what it is. But it absolutely is rough justice.
    Personally, I would rather it have gone bankrupt and those over 100,000 in savings lose what they had in there. Flush the system.

  28. Natural gas service into Europe may experience some disruptions. Pure coincidence. Seems like the banksters are trying to assess just how far the public can be pushed before they finally set aside the beer and popcorn and wander outside to see what the commotion is all about. If this theft does not inspire the populace to revolt, then the next, bolder, larger theft probably will. Matter of time.

  29. It’s not clear to me who, what individuals, actually made this decision and how they enforce it. WHoever they are are dictators.

  30. Stephen, it wasn’t the Cypriot banks which were in trouble, it was the government of Cyprus itself. So try to think this through.
    They levy deposits at the banks. This starts a serious run on the banks. The health of the banks is fundamentally threatened, which also happens to be the largest industry in Cyprus. This means the banks are now threatened with collapse, meaning they will either need a bailout or will fail. Which means Cyprus loses large government revenues, and will need another EU bailout down the road.
    By any measure this is insane regardless of whether or not the banks launder money.

  32. CGH,
    Cypriot banks were effectively insolvent, no capital left, or very little. That it was a large industry relative to the domestic economy just compounds the issue.
    The laundering issue, jsut makes it more unpalatable for anyone to try to rescue the banks. But the core issue is not laundering it is insolvency.
    But oddly they wont follow the rules on normal bankruptcies, as in equity gets it first, then Bondholders then depositors. Depositors were going to get nailed but quite frankly there wasnt enough capital. Senior bondholders are being preserved in this case and it isnt clear as to why, likely ownership issues amongst politicians and people of influence. This is an important question
    As well, the Cypriot Banks bought lots of Greek debt, as in the made a bad decision and now they are paying it. So while the Cypriot government has lots of problems, these banks got themselves in trouble all on their own, that the Cypriot government is incapable of salvaging them is secondary issue.
    This doesnt end well no matter what. You want to watch what wealthy Italians and Spaniards do over next while. The government really stumbled when the confiscated accounts below the insurance mark. They also committed a sin when the didnt wipe out the bank bondholders completely before they went after the 100,000+ depositiors.
    End of Day, someone somewhere is leaving the Euro. The question is will it be the PIIGS and Cypriots or will it be the Germans? This clearly indicates Germany feels no desire to contribute anymore treasure from German taxpayers.
    The pressure in the pot continues to rise now that the trust seal on deposit insurance has been broken.

  34. A further problem now is that the cat’s out of the bag. Even if the IMF and the Cypriot government back down the very fact that they saw this as a good idea spells the end of the Cypriot banking system. Who in the right mind would trust it for the future?
    It also points up the folly of being in the Euro. In the past a government could simply devalue the currency. While not a good position to be in, it hit everyone equally when they purchased goods regardless of wether they were savers or spenders and it encouraged greater reliance on local production and less on imports. It also left discretion in consumption to the consumer. Being in the Euro, devaluation is not an option. They’re stuck in an utterly inflexible system unable to respond to local demands and agendas and both the small countries such as Cyprus suffer because they cannot devalue and the big countries like Germany suffer because they’re faced with a string of bailouts to avoid an across the board devaluation of the Euro which would compromise their ability to purchase imports such as energy.

  35. Loki, don’t waste your money at an overpriced gun show. Go to Canadiangunnutz.com and join their equipment exchange. Better prices, more selection, and no government tracking. Guns are a good investment in days like this.

  37. Just a passing note….
    I suspect the Russian Oligarchs had advance warning…for the reasons loki suggested….IMF officials may be stupid but not suicidal.
    While the Russian mob may have access/employ retired operators…US/UK retired operators do not work for UN/IMF etc agency’s….VIP personal bodyguards maybe but not for bureaucrats.
    Retired operators from any source, do not work for bureaucracies, maybe for Blackwater, Haliburton etc.
    It’s not for ideology…it’s simply business….bureaucrats have bad credit ratings.

  38. Drudge is reporting now that the Cypriot banks will be closed until thursday…
    Lots of time to ruminate whose fault it is. The banks didn’t spend it on social programs did they?
    Who spent the money?
    Ireland next? Italy next?

  39. Cypriot:
    (cyp-ri-ot)
    Noun:
    1. A native or national of Cyprus.
    2. One who trusts a bank saying they are closed until Thursday on the eve of the government confiscating their savings.
    3. A stupid person.

  40. Of course it never occurs to any of these butt holes is that once the budget is balanced, the crisis is over. Just balance the frigging budget.

  41. LeGarde HAD TO KNOW a LOT of that money was X-KGB Russian mafia money including, it’s suspected, Vlad Putin’s himself.
    I agree with at least one poster (above) that although it will NOT be broadcast by our lamestream media all the backpeddling right now is some of these banksters trying to SAVE THEIR LIVES and those of their families. The Russian MOB is NOT a group to piss off. They need to send a message too so look for IMF big wigs losing their kids to snow blower accidents, etc etc. They like everybody to know who has done it why and how gruesome the “accident” the more they feel they are projecting their message.

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