Cyprus deal 40% haircut

Quote from Bob111:

i'm not sure wtf is going on. one of the possible outcomes been mentioned is pre WW2 situation(USA!USA!)
with idea is that the history will repeat itself..
when there is a mess everywhere(japan,europe)-money will flow into US ! yuppie!

one problem-(imo) at this point of the game-US doesn't really need any money from outside. Benny and Co can print whatever the f*** they want.
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'one problem-(imo) at this point of the game-US doesn't really need any money from outside. Benny and Co can print whatever the f*** they want"

printing money is not the same as others demanding your money.
if you print money you stoke inflation and destroy the currency.
 
Quote from hftvol:

How do you conclude that from the deal? I find your conclusion bizarre given that all insured accounts < 100k EUR were left untouched. Aside the fact that there were certain individuals "in-the-know" and moved billions out of the country a week before the issue surfaced, I would say the deal cuts deepest into the pockets of Russians and the wealthy. Maybe you wanna think before you come out with your comical comments.
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Thanks for proving my point. The banks received yet another bailout via monetization and depositor confiscation. What part of robbery don't you understand?
 
Quote from zdreg:

in a capitalist system the depositor should also pay for not doing their
due diligence.
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I agree. But all we have are depositors taking it up the ass, to save banks!

If we're going to have losses, let both depositors AND BANKS go bankrupt. Fuck them.

Either that, or backstop all deposits and let the bankers twist.

See? We've gone down the worst possible road - financial sector bailouts paid for by the private sector.
 
Quote from dealmaker:

Bankers always win, otherwise how can you explain Jon Corzine not being in jail...
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They do. Cause that's the system. But Iceland said FUCK YOU BANKERS. And arrested their asses. Which is exactly what we need to do. Let the banks fail, round up these little bitches like Geithner, Bernacke, Blankfien etc, and put them in prison.

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robbery? Maybe you wanna first capture the big picture before making bold statements like that. Maybe you can account for us a single HONESTLY earned euro that was deposited by ANY RUSSIAN into ANY Cyprus bank? Then we can talk robbery. Please convince us that less than 95% of deposits above 100k euros are not from illicit sources. Then we can talk robbery.

Point being, that country is a harbor and rat hole for illicit funds from Russia and many other dark sources around the globe. Everyone gets what they ask for.

Quote from achilles28:

Thanks for proving my point. The banks received yet another bailout via monetization and depositor confiscation. What part of robbery don't you understand?
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that is why one bank is entirely dismantled, shutdown, management fired. What else, you wanna hang someone? Did you lose a penny? If not then shut up and let the poor Russians mourn.

Quote from achilles28:

I agree. But all we have are depositors taking it up the ass, to save banks!

If we're going to have losses, let both depositors AND BANKS go bankrupt. Fuck them.

Either that, or backstop all deposits and let the bankers twist.

See? We've gone down the worst possible road - financial sector bailouts paid for by the private sector.
More...
 
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