Words of Advice:

"If Something Seems To Be Too Good To Be True, It's Best To Shoot It, Just In Case." -- Fiona Glenanne

"Flying the Airplane is More Important than Radioing Your Plight to a Person on the Ground
Who is Incapable of Understanding or Doing Anything About It." -- Unknown

“Never argue with stupid people, they will drag you down to their level
and then beat you with experience.” -- Mark Twain

"Stay Strapped or Get Clapped." -- probably not Mr. Rogers

"Eck!" -- George the Cat

Saturday, March 30, 2013

Cypriot Banks and the Eurozone

It appears that the Germans European Central Banksters are making the Cypriots confiscate 60% of all bank deposits over €100,000.

I'm wondering if anyone with significant funds that they'd like to have on deposit somewhere will now think twice about depositing that kind of cash in a bank anywhere in the Eurozone.


BadTux said...

The Krauts think they're punishing the Russians by doing this (since much of the Cypriot money was Russian). Thing is, the Russians have already gotten most of their money out of the Cyprus banks via the simple expedient of sending goons to various bank directors' houses with folders full of photographs... "nice family you have here, be a shame if anything happened to them." "ULP!" Not to mention the horses' head in the limo the next morning. Remember that there is no difference between the Russian government, the Russian oligarchy, and the Russian Mafia :).

Plus it's never wise to tweak the bear. Especially if you're expecting shipments of Russian natural gas to be forthcoming next winter...

Comrade Misfit said...

Well, yeah.

Anonymous said...

Just another example of the Golden Rule: "He who has the gold, makes the rules"