Bailout of Cyprus to cost depositors 10% immediately

Discussion in 'Markets & Economies' started by Caput Lupinum, Mar 16, 2013.

  1. GoldenEgg

    GoldenEgg Member

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    Meanwhile silver drops 50 cents in under half an hour.What an utter farce.We should be seeing similar moves in gold/silver as what has been happening in bitcoin the past couple weeks - only TPTB can manipulate GLD/SLV far easier than bitcoin.
     
  2. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Now I've heard it all.....
    Trading paper on the side, I have attracted a lot of criticism on this forum, so it will take me a while for me to digest this statement.
     
  3. alor

    alor Well-Known Member Silver Stacker

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    wonder how people over there pay their power bill. since the amount exceed their daily limit. :rolleyes:
     
  4. tiddleyetom

    tiddleyetom Member

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    Got a link?
     
  5. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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  6. AngloSaxon

    AngloSaxon Active Member

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    All the emphasis on crystalising peoples' at call cash into term deposits is pretty desperate.
     
  7. Guest

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  8. tiddleyetom

    tiddleyetom Member

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  9. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    This same thing happens in Argentina.

    You have to wait in line at a Govt Dept (often for hours) with your bill in your hand as evidence. Then some 22 year old Govt drone gives you a peice of paper giving your bank permission to transfer the funds into the power company's acct.

    You then have to stand in line (often for hours) at your bank to hand over the Govt permission slip and then pay the bill... easy :rolleyes:
     
  10. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Ok so the Cypriot government has voted on 9 bills last night all of which passed including the capital controls and the restructuring of its banks, but it has not yet voted on the deposit levy which is now scheduled to take place today sometime. The Troika has also increased the amount that Cyprus needs to raise from 5.8 billion euros to 6.7 billion due to worsening conditions.
     
  11. Phiber

    Phiber Active Member Silver Stacker

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    What does this one imply?
     
  12. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    *Restrictions in daily withdrawals
    *Ban on premature termination of time savings deposits
    *Compulsory renewal of all time savings deposits upon maturity
    *Conversion of current accounts to time deposits
    *Ban or restrictions on non cash transactions
    *Restrictions on use of debit, credit or prepaid debit cards
    *Ban or restriction on cashing in checks
    *Restrictions on domestic interbank transfers or transfers within the same bank
    *Restrictions on the interactions/transactions of the public with credit institutions
    *Restrictions on movements of capital, payments, transfers
    *Any other measure which the Finance Minister or the Governor of Cyprus Central Bank see necessary for reasons of public order and safety
     
  13. ShadowPeo

    ShadowPeo Member Silver Stacker

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    Which of those 11 passed though??
     
  14. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    All of them
     
  15. iceblue

    iceblue Well-Known Member

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    Thanks for keeping this updated mate, champ.
     
  16. SilverPhoenix

    SilverPhoenix New Member Silver Stacker

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    Oh dear - its all so complicated. And my power bills and gas bills, in fact ALL my bills are more than I can take out in 24 hours from my account. My rent/mortgage too! And my current account I can't use, it's now a term deposit locked in for 36 years!!

    I KNOW!! I know what to do!! Petition the Government to take over all my accounts and pay all my bills for me!! YES!! No worries. Problem fixed ;)
     
  17. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    And if you are a good little citizen, do what you are told and do all your chores for the Troika, you may get some pocket money to spend on designated items such as new Iphones, 3D televisions or other high grossing electronic products
     
  18. valuecreator

    valuecreator Well-Known Member Silver Stacker

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    IMF is not a noob at this game, they know what they're doing.

    BTW the name of the game is Wealth Transfer (c)
     
  19. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    If only there was somewhere we could put our wealth as a longterm store of value :(
     
  20. jparrie

    jparrie Member

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    [​IMG]
     

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