Another thread about cyprus
 

Let's say that i'm a russian gazillionaire (yes they have gas in russia).
So i have my money in cyprus, i'm pissed off because the gvt from cyprus wants to tax my money.
So, i decide to remove the money from the country.
My rich pals decide to do the same thing, so sudently this money is no more in the bank accounts from cyprus...

The question is what will happen next, when this money is no more here (it means that the banks can't no more work with this money).

An answer, someone ?

your moneys is are will be in motion :2 cents:

yes, money is in motion!

ya see thats the problem...the banks there dont have enough money to cover the deposits....not NEAR enough a run like that would crash them they freeze the accounts.

If you mean that they won't be able to take back their money:

This would threaten the confidence in the european system.
This would kill the economy of the country.
This could kill the euro.

Better get Everything outta the bank while there is time....

http://www.technologyinvestor.com/wp...BankUpdate.gif

http://www.firstideascorp.com/i/blue-stripe_2.jpg

:stoned

ADG

The Cypriot banks batted way above their weight - Inflated interest rates and no questions, they took the money and invested it in Greece - Greece fell foul of the EU and lost the Cypriot money.

The banks in Cyprus are taking money from the people that took advantage of the relaxed rules - Unfortunately lots of innocent people are being caught up in the mess....

That is what's called " Money is in motion". You should know what that means. You can't do that unless the shit is in a safe locked away in a pvt location. :upsidedow

Yep bank runs :2 cents:

Or an Argentina type scenario is more likely :2 cents:

"Sorry bank is closed, no access to money, go fuck yourself!"

Sounds like the tail end of a Ponzi scheme to me.

Get in and get out, as soon as possible, if you wait any longer your chances of getting your funds out will diminish.

This. :2 cents:

The Ponzi scheme was the mortgage backed securities and derivatives i.e. junk bonds that where given triple A ratings.

This is part of the inevitable consequence of the bankers fraudulent actions. If the average person understood just how much has been stolen from them all western governments would be fighting against arab spring type uprisings atm.

Thankfully for said politicians and bankers their victims are more concerned about X Factor, The Apprentice, Strictly Come Dancing and other mindnumbingly boring reality shows.

It's too late for that, the only thing that keeps all banks functioning is confidence, once confidence is lost the game is up due to fractional reserve banking. It's the same with the stock markets etc That's why the central banks have to keep on injecting money into the system to keep it going - otherwise known as inflation to you and me which is just another stealth tax but one governments prefer as the average person doesn't understand it so it doesn't look like theft.

Damage control has already started by the Cyprus government

Cyprus 'To Spare' Small Savers From Bank Tax

http://news.sky.com/story/1066463/cy...-from-bank-tax

It'll be interesting to see how this plays out. :Oh crap

It could be a Creditanstalt type event, I hope not!