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  #101 (permalink)  
Old 03-29-2013, 01:05 PM
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An interesting video from Peter Schiff

[YT]sgIHvHeLeEk[/YT]

Quote:
What happens in Cyprus doesn't necessarily stay in Cyprus. The media says it can't happen here but it can. If several major U.S. banks failed, trillions of deposits would be at risk, including hundreds of billions insured by the FDIC. However, the FDIC barely has any reserves to cover the potential losses. A bigger bailout than TARP would be required to bailout depositors. Where would the government get the money? If the Fed prints it, deposits would lose a much larger percentage of their value to inflation than Cyprus depositors are paying in deposit taxes!
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  #102 (permalink)  
Old 04-03-2013, 07:36 AM
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This is beginning to make a good script for a movie. So far we have had riots, tax evasion, bank fraud, tourism and nice women, diplomatic scandal with now insider information reaching to the top of the government.

Quote:
Cyprus bailout inside info? 132 companies pull out over $900mn in deposits

One hundred and thirty-two companies reportedly had inside knowledge of Cyprus’ impending levy tax as they withdrew deposits worth US$916 million in the run-up to the bailout deal.

The companies withdrew their savings in the two week period (between March 1 to March 15) leading up to the rescue deal that enforced heavy losses on wealthy depositors in Cypriot banks, according to Greek newspaper Proto Thema.
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  #103 (permalink)  
Old 04-03-2013, 07:48 AM
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Originally Posted by kju385 View Post
This is beginning to make a good script for a movie. So far we have had riots, tax evasion, bank fraud, tourism and nice women, diplomatic scandal with now insider information reaching to the top of the government.



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A James Bond movie or a Tom Clancy movie?
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  #104 (permalink)  
Old 04-03-2013, 07:54 AM
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Originally Posted by Natural Elements View Post
A James Bond movie or a Tom Clancy movie?
Sherlock Holmes movie... Where is the money???

 
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  #105 (permalink)  
Old 04-03-2013, 08:21 AM
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These "bail-ins" are going to spread and our leaders know it.

Canada put the Cyprus style depositor raids into Canadian law just as all that nastiness in Cyprus was going down.
http://www.zerohedge.com/contributed...sits-ba?page=1

Think deposits in the UK and US are safe? Think again.
http://silverdoctors.com/fdic-bank-o...or-tbtf-banks/

The music has started and there are still some chairs left.
 
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  #106 (permalink)  
Old 04-03-2013, 08:34 AM
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Originally Posted by Zap View Post
These "bail-ins" are going to spread and our leaders know it.

Canada put the Cyprus style depositor raids into Canadian law just as all that nastiness in Cyprus was going down.
http://www.zerohedge.com/contributed...sits-ba?page=1

Think deposits in the UK and US are safe? Think again.
http://silverdoctors.com/fdic-bank-o...or-tbtf-banks/

The music has started and there are still some chairs left.
They sent a very bad signal, who are going to give confidence in banks now?
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  #107 (permalink)  
Old 04-03-2013, 09:04 AM
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Originally Posted by Natural Elements View Post
They sent a very bad signal, who are going to give confidence in banks now?
These things are done very quietly. I didn't hear a peep in the media about our new bail-in law.
There are still plenty of sleeping sheep to fleece.
 
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  #108 (permalink)  
Old 04-03-2013, 09:09 AM
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These things are done very quietly. I didn't hear a peep in the media about our new bail-in law.
There are still plenty of sleeping sheep to fleece.
This is a funny way elected politicians represent the people isn't it?
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  #109 (permalink)  
Old 04-03-2013, 09:36 AM
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Originally Posted by Natural Elements View Post
This is a funny way elected politicians represent the people isn't it?
The funny thing is...
The plan to rob depositors is public. They didn't hide it. It's right there in the budget in plain English (and French) for anyone to read.
We can download it right from the government website and look it up.

But, almost nobody will do that.
 
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  #110 (permalink)  
Old 04-03-2013, 10:37 AM
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Originally Posted by Zap View Post
The funny thing is...
The plan to rob depositors is public. They didn't hide it. It's right there in the budget in plain English (and French) for anyone to read.
We can download it right from the government website and look it up.

But, almost nobody will do that.
Which allow them to provide the argument in case protests arise that they made it public
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