The EU Confiscates Savings from all Bank Accounts
- 21 March 2013 23:57221542One businessman in and of Cyprus was interviewed briefly on Channel4 news and said that there were four main areas of business on Cyprus;Financial Services, Banking, Tourism and Real Estate. Barry's ideal for the UK, writ out on a slightly smaller scale.Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
- 22 March 2013 00:18221544Tom, have you left out toxic investments in papers?
If so much money was deposited in Cypriot banks, where has it all gone?
Why has Cyprus NO money now, currently depending on emergency cash from other EU states just to supply the cash machines?
OK, some of the masses of money went to Greek banks, and the rest?
To me it seems that money of Cypriots, Russians, British expats and others has been re-deposited by Cypriot banks into the casino of speculative toxic papers "somewhere in the Tiny Global Village".
Barry won't be able to give us an explanation here, citing Keynes' handbook. Marx' Das Kapital might be a little more helpful, if it wasn't three giant volumes!
Dear Tom, just digit "ponzi scheme" on the Web, and "toxic investments". and "speculation".
For the alternative (disambiguation), digit "how to pay people a wage to dig a garden and plant a crop", or: "how to open a factory and pay people to produce clothes".
Clearly Cyprus chose the former (ponzi scheme), and got the pyramid effect, and things snowballed out of control.Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
Rule Britannia!
Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ - 22 March 2013 00:21221545That said, DDC was fortunate Iceland paid up so rapidly, even if it was only a few million pounds. But still.Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
Rule Britannia!
Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ - 22 March 2013 02:32221549The Daily Sheeple reports:
"Long queues forming at cash machines across Cyprus, €260 maximum cash withdrawals. Scuffles reported as police meet protesters in front of the parliament building late Thursday."
Will cash machines in the UK soon be coughing up 20p coins as withdrawals are limited to the minimum expenditure required in pound shops?
More to come...Chanters, Drums and Drones Potty Time http://youtu.be/99fMqpjnXYA
Rule Britannia!
Kent First http://youtu.be/04F3mAP3fV4 Keep banging on http://youtu.be/qYCU_SKmkGQ - Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
22 March 2013 07:52221560The writing is on the wall,
without to muchj knowledge of the cyprus crisis, they do have to balance the books somehow
business leaders are now saying today is the last day the country can survive with the banks closed,
people now all paying in cash, both business's and locals.ALL POSTS ARE MY OWN PERSONAL VIEWS - 22 March 2013 08:12221561You'll be saying that about us before long Keith, we are in a dreadful mess. The fact none of our so called leading politicians have the foggiest clue what to do.
- Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
22 March 2013 08:14221562Many already are DavidALL POSTS ARE MY OWN PERSONAL VIEWS - 22 March 2013 08:17221563Many what?
- Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
22 March 2013 08:51221569people/expertsALL POSTS ARE MY OWN PERSONAL VIEWS - 22 March 2013 09:01221573Well if experts are saying we're the same as Cyprus they can't be experts, more like idiots.
Our banks haven't been shut for days and we're not begging Russia for a few roubles.
My point is if we carry on spending like we are it won't be far off. - Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
22 March 2013 09:06221578both making same point davidALL POSTS ARE MY OWN PERSONAL VIEWS - 22 March 2013 09:12221580No we're not Keith, you claim that "experts" say we're in the same situation as Cyprus which is unequivocably wrong, they are clearly not "experts".
- Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
22 March 2013 09:14221582Oh gawd david chill a little
Whilst we are not in the situation of cyprus at this time, the UK nonetheless in a mess and looking to be for some years to comeALL POSTS ARE MY OWN PERSONAL VIEWS - 22 March 2013 09:34221590Chillax David.
While it would be right to say, "Don't panic!", for panic seldom gets anybody anywhere, certainly nowhere different than towards the thing they fear., it is also of no surprise that a drowning man does not stop to weigh-up his situation, to him any straw will do.
Is it any more than hubris or stupefaction that allows us to comment on the less than disastrous effect of default when talking of Cyprus and at the same time not realising that it would be no more disastrous for us if we came to the same sorry end?
You say, and you are not alone in this, that we should stop spending like we are. Who should we spend like? Should we cease to spend entirely? Do we concentrate on building a Time Machine or magically go back and attempt to learn how to spend wisely, or more wisely?
In what way would putting an end to spend help us?
Spending cannot be the core issue for we live in a Capitalist Society...no spend, no mend.
The core issue is that 'we' are self-obsessed, self-centred and self-satisfied. Finance is the one place where Homoeopathy is said to be the only way:Greed has brought us to the sick-bed, only Greed can save us.
Instead of prescribing a hair of the dog, why not alter our diet? Stop doing something that we are doing and that avails us not, and start doing something that we have for too long failed to do.
[Yes folks, you've guessed it...here we go again.]
Register to Vote, determine within yourself that come the next election you WILL Vote, and if you think that you are registered make a fuss about ensuring that it is so and that your children are also on the Roll, ready for OUR big day.Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing. - 22 March 2013 09:56221596a lot of brinkmanship is going on with the cyprus situation, they will come through it.
- Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
22 March 2013 09:59221599Like most countries
hopefully like our own in timeALL POSTS ARE MY OWN PERSONAL VIEWS - 22 March 2013 10:11221604With reference to my #74
" SIR - The Government seems to be happy to exist in a world of debt. I am concerned at the Chancellor's obsession with getting people to own their own homes, and thus being in debt for the next 25 years or so.
Owning your own home should not be a "right". Home ownership, and mortgage obligations, are not for everybody. If we should have learnt anything from the past few years, it is that not everyone (or indeed every country) is creditworthy.
David J Hands
Hildenborough, Kent "
http://www.telegraph.co.uk/comment/letters/9946787/The-Budget-mortgage-scheme-runs-the-risk-of-tempting-house-buyers-to-take-on-too-much-debt.htmlIgnorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing. - 22 March 2013 10:13221605I hope you didn't borrow money to buy property Tom, that would leave you open to accusations of hypocrisy.
- 22 March 2013 10:16221608the letter writer is simply saying that property ownership is not for everybody, something we all know already.
- 22 March 2013 10:22221611Absolutely right Howard, its about personal choice and circumstances.