5: Big Bang Looming.......

Message boards : Politics : 5: Big Bang Looming.......
Message board moderation

To post messages, you must log in.

Previous · 1 . . . 4 · 5 · 6 · 7 · 8 · 9 · Next

AuthorMessage
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 21021
Credit: 2,925,074
RAC: 564
Ireland
Message 1347032 - Posted: 15 Mar 2013, 20:50:13 UTC - in response to Message 1347029.  

Naw, the Horst Wessel song is more catchy.
ID: 1347032 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 21021
Credit: 2,925,074
RAC: 564
Ireland
Message 1347088 - Posted: 15 Mar 2013, 22:50:00 UTC
Last modified: 15 Mar 2013, 23:08:54 UTC

3 pieces of the puzzle.....

Monsieur Unpopular

EU summitt hijacked

Just wonder how many more pieces Brussels will let slip through their fingers......

Extra! Extra! Read all about it!

Bepo the Clown could bring down the Eurozone
ID: 1347088 · Report as offensive
Profile Gone with the wind Crowdfunding Project Donor*Special Project $75 donor
Volunteer tester

Send message
Joined: 19 Nov 00
Posts: 41577
Credit: 41,999,167
RAC: 464
Message 1347300 - Posted: 16 Mar 2013, 13:09:29 UTC

ID: 1347300 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 21021
Credit: 2,925,074
RAC: 564
Ireland
Message 1347306 - Posted: 16 Mar 2013, 13:45:06 UTC

Eurozone & IMF agree Cyprus bailout

That's 5 bailed out, who's next & where is the money going to come from?
ID: 1347306 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 21021
Credit: 2,925,074
RAC: 564
Ireland
Message 1347461 - Posted: 16 Mar 2013, 22:35:02 UTC



Shock in Cyprus

Cash Machine scramble

Very cunning timing by the EU, long weekend ahead in Cyrus as Monday is a bank holiday.

"One user called Effendi said: 'But why is a little island like Cyprus is in trouble. Loads of holidaymakers, loads of hotels, people retiring, business registrations - loads of income tax, so what has been going on for the island to get itself into trouble?'"

Well Effendi, it's like this.......There is a band of thieves who have the full backing of all the EU leaders & it's impossible to put them on a leash.....

..the bands name?

BANKERS
ID: 1347461 · Report as offensive
Profile Gary Charpentier Crowdfunding Project Donor*Special Project $250 donor
Volunteer tester
Avatar

Send message
Joined: 25 Dec 00
Posts: 25658
Credit: 50,062,839
RAC: 22,790
United States
Message 1347486 - Posted: 17 Mar 2013, 0:49:16 UTC

What's a little 10% haircut. After all trickle down doesn't work. Government has to spend that money to get the economy going. If the people won't spend it themselves, just take it from them and dump it into the economy. After all, all they did was speculate with that cash and dump it into Greece but they tricked the Cypriot government into saying their deposit were good. Gosh does this sound like why there are stress tests? Don't worry USA worker, it will only take ten years of your paycheck to pay off the national debt.




ID: 1347486 · Report as offensive
Profile Gary Charpentier Crowdfunding Project Donor*Special Project $250 donor
Volunteer tester
Avatar

Send message
Joined: 25 Dec 00
Posts: 25658
Credit: 50,062,839
RAC: 22,790
United States
Message 1347531 - Posted: 17 Mar 2013, 4:20:01 UTC

ID: 1347531 · Report as offensive
Profile Gone with the wind Crowdfunding Project Donor*Special Project $75 donor
Volunteer tester

Send message
Joined: 19 Nov 00
Posts: 41577
Credit: 41,999,167
RAC: 464
Message 1347570 - Posted: 17 Mar 2013, 7:39:30 UTC

Aljazeera is basically a news channel for the Arab world and slanted accordingly.

Al Jazeera claims that it is editorially independent, though much of its funding comes from the Qatar government. In 2010, United States Department of State internal communications, released by WikiLeaks as part of the 2010 diplomatic cables leak, claim that the Qatar government manipulates Al Jazeera coverage to suit political interests.

In September 2012, The Guardian reported that Al Jazeera's editorial independence came into question when the channel's director of news, Salah Negm, stepped in at the last minute to order that a two minute video covering a UN debate over the Syrian civil war include a speech by the leader of Qatar, Hamad bin Khalifa Al Thani. Staff members protested that the speech was not the most important aspect of the debate, and that it was a repetition of previous calls for Arab intervention.

The Guardian also claimed in September 2012 that Qatar has taken steps in recent years to consolidate control of Al Jazeera English.


ID: 1347570 · Report as offensive
Profile Gone with the wind Crowdfunding Project Donor*Special Project $75 donor
Volunteer tester

Send message
Joined: 19 Nov 00
Posts: 41577
Credit: 41,999,167
RAC: 464
Message 1347572 - Posted: 17 Mar 2013, 8:08:30 UTC
Last modified: 17 Mar 2013, 8:53:43 UTC

It is worth remembering that Cyprus is a past British Crown Colony, granted Independence in 1960, and that there have been historical squabbles between the populations of Greek and Turkish Cypriots culminating in the partition of 1974. What is therefore worrying is, if the financial fabric of Cyprus breaks down and there is major civil unrest, would Turkey use that to try to take over the whole island?

The Republic of Cyprus has de jure sovereignty over the island of Cyprus and its surrounding waters, except for the British Overseas Territory of Akrotiri and Dhekelia, administered as Sovereign Base Areas. However, the Republic of Cyprus is de facto partitioned into two main parts; the area under the effective control of the Republic, comprising about 59% of the island's area, and the Turkish-controlled area in the north, calling itself the Turkish Republic of Northern Cyprus and recognised only by Turkey, covering about 36% of the island's area. The international community considers the North as occupied territory of the Republic of Cyprus.

Also the Cyprus banking system is not that squeaky clean either. Cyprus banking

Late edit - final para removed as not being relevant.
ID: 1347572 · Report as offensive
Profile Gone with the wind Crowdfunding Project Donor*Special Project $75 donor
Volunteer tester

Send message
Joined: 19 Nov 00
Posts: 41577
Credit: 41,999,167
RAC: 464
Message 1347597 - Posted: 17 Mar 2013, 10:06:59 UTC
Last modified: 17 Mar 2013, 10:09:15 UTC

Breaking news on Cyprus

Osborne: British investors in Cypriot banks will be protected

Chancellor George Osborne has said that the "many thousands of people who bank with Cypriot banks in Britain" will not be included in the proposed levy on bank accounts.

He also told the BBC's Andrew Marr Show that any British military or government employees serving in Cyprus will be compensated by the government.


BBC News
ID: 1347597 · Report as offensive
Nick
Avatar

Send message
Joined: 11 Oct 11
Posts: 4344
Credit: 3,313,107
RAC: 0
United Kingdom
Message 1347806 - Posted: 17 Mar 2013, 17:11:47 UTC - in response to Message 1347461.  
Last modified: 17 Mar 2013, 17:13:21 UTC



Shock in Cyprus

This antic being forced on Cyprus by the ECB has Argentina written all over it.
Cyprus today other struggling ECM countries tomorrow. Clearly Brussels has
a disdain for personal wealth and it's beginning to show. How long before
Brussels tax's the middle class out of existence, this was how they treated
the middle classes in Argentina and today that country is ruined.
Where the ECM is concerned I think most of us educated types can now clearly
see the wood from the trees regarding the viability of the European super state.
If not then I suggest you get your eyes seen to...you've had fair warning!!
...What's that well known saying, "First they came for ???, then they came for"
The Kite Fliers

--------------------
Kite fliers: An imaginary club of solo members, those who don't yet
belong to a formal team so "fly their own kites" - as the saying goes.
ID: 1347806 · Report as offensive
Profile Gary Charpentier Crowdfunding Project Donor*Special Project $250 donor
Volunteer tester
Avatar

Send message
Joined: 25 Dec 00
Posts: 25658
Credit: 50,062,839
RAC: 22,790
United States
Message 1347849 - Posted: 17 Mar 2013, 19:48:37 UTC - in response to Message 1347570.  
Last modified: 17 Mar 2013, 19:53:08 UTC

Aljazeera is basically a news channel for the Arab world and slanted accordingly.

Fine, so just read the links in it then, or are The Economist and George Osborne also slanted Arabic?

The campaign, including a day of action on March 16, is spearheaded by /The Rules, Occupy UK, UK Uncut and the City Reform Group, and highlights systemic causes of global impoverishment. Importantly, this comes at a time when the UK Prime Minister David Cameron has explicitly denounced tax evasion after coming under intense public criticism at the revelation of massive tax avoidance of large multinational companies. In June, the UK will host the G8 summit, which Chancellor of the Exchequer George Osborne has said he is "determined to use... to drive a serious debate on tax evasion and tax avoidance".

ID: 1347849 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 21021
Credit: 2,925,074
RAC: 564
Ireland
Message 1347883 - Posted: 17 Mar 2013, 20:37:12 UTC - in response to Message 1347806.  

Good post Nick, however, its flawed.....

....shouldn't the eurocrats be destroying themselves then?
ID: 1347883 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 21021
Credit: 2,925,074
RAC: 564
Ireland
Message 1347946 - Posted: 18 Mar 2013, 1:36:34 UTC - in response to Message 1346734.  

The Torch has been lit - Will this torch become more famous than the Olympic one?

Beginning to look that way......


Now that the line has been crossed.......

"Until now it was felt that however bad the crisis in the euro area became, governments would move heaven and earth to protect ordinary bank depositors.

Over the weekend that Rubicon was crossed, as policymakers imposed an immediate tax on all deposits held in Cyprus, as part of a rescue package for the island’s failing economy.

This brutal decision by euroland finance ministers and the International Monetary Fund threatened a run on the whole financial system as depositors rushed to try to get their money out.

And the reverberations could reach beyond further Cyprus to hard-pressed euroland countries including Italy and Spain."

"Archbishop Chrysostomos, the country’s religious leader and a former government supporter, was reported to have called for calm, but insisted Cypriots would never forget Europe’s behaviour. In his Sunday sermon, he thundered: ‘This is a villainy of Europeans. Cyprus must as soon as possible leave the eurozone.’"

Could this be the "Big Bang" that rocks the world?

"But economist Eamonn Fingleton said the bank raid could be ‘worse than Lehman Brothers’ – a reference to the botched response to the collapse of the US bank in 2009. They have opted for a ‘solution’ that amounts to probably ‘the single most inexplicably irresponsible decision in banking supervision in the advanced world since the 1930s’, he said. They have weakened – perhaps catastrophically – the principal pillar sustaining modern banking.

This pillar is deposit insurance. This raises questions about deposit insurance throughout the EU and invites runs on banks not only in the most financially-challenged nations such as Greece and Spain but even in Italy and France.’

Sebastien Galy, of the bank SocGen, agreed the move could be the ‘trigger’ for a new eurozone crisis: ‘It breaks a cardinal rule – namely, public trust on which money relies.’

Could this statement be the rod that breaks Merkel's back & turn Germany into an International Pariah for the 3rd time in 100 years?

"Angela Merkel insisted it was right that all depositors in Cypriot banks should share the responsibility of bailing out the state."

So Mekon, why wasn't this implemented for: - Portugal,Ireland,Italy,Greece & Spain?
ID: 1347946 · Report as offensive
Profile Gone with the wind Crowdfunding Project Donor*Special Project $75 donor
Volunteer tester

Send message
Joined: 19 Nov 00
Posts: 41577
Credit: 41,999,167
RAC: 464
Message 1348030 - Posted: 18 Mar 2013, 10:38:39 UTC

Here is the logic behind imposing a hefty levy on Cyprus deposits, according to one well placed official:

1) Regulators and politicians are convinced that a vast amount of cash in Cypriot banks belongs to Russian money launderers.

2) Few German politicians of any persuasion would have voted for a Cyprus rescue that simultaneously rescued these launderers.

3) So the only way to get the bailout through the Bundestag is for the launderers to be taxed to the tune of almost 10% of their allegedly ill-gotten cash. And if innocent savers are hurt too, that is the way this particular "Keks" will crumble.

Fine for the Armed forces that will be compensated, how about the Brit ex pats?

Depositors with under 100,000 euros deposited must pay 6.75%

Those with more than 100,000 in their accounts must pay 9.9%

Depositors will be compensated with the equivalent amount in shares in their banks

The levy is a one-off measure

Item 3 is new to me, is this correct?

ID: 1348030 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 21021
Credit: 2,925,074
RAC: 564
Ireland
Message 1348034 - Posted: 18 Mar 2013, 10:58:16 UTC - in response to Message 1348030.  

No 3 looks like someone assuming that's the reason. Without any references to that statement....

As for the Russian money launderers.......

...interesting that the EU are doing this now.......

What about the Drug Cartels that invested in Europe....
ID: 1348034 · Report as offensive
Profile Gone with the wind Crowdfunding Project Donor*Special Project $75 donor
Volunteer tester

Send message
Joined: 19 Nov 00
Posts: 41577
Credit: 41,999,167
RAC: 464
Message 1348041 - Posted: 18 Mar 2013, 12:05:54 UTC
Last modified: 18 Mar 2013, 12:11:38 UTC

It is being reported by the BBC European news. There is no reference as to where they get that information from. If it is true then it makes a difference. BBC report

Trying to step back from the lurid Mail and other press reporting. It is being suggested that the Cyprus banks have been incompetent in their dealings, resulting in the position that they are in today, if so they deserve to be brought to book. It is also being suggested that the majority of deposits are of dodgy money from Russia, that deserves little sympathy, but that may not be all true 40% is Russian. The armed forces are being protected by the government, but what about the ordinary man in the street and ex pats? If a soldier willing to serve and die for his country needs compensating through no fault of his own, then yes, I will pay some of my taxes for that. Whether I should have to is another matter. Soldiers don't have any choice where they are sent, private people do have a choice where they choose to live or retire, but you have to be sensible about it.

Leaving apart Middle East oil, most countries bordering the Mediterranean do not have any mineral or other natural resources like diamond, gold, or coal mines etc. Because of their climate and architectural history, they mainly rely on tourism to survive. When there is a prolonged world recession as there is now, the first thing people do is cut back on luxuries like holidays. Coupled with the fact that most of these countries have fragile political regimes anyway, it is a simple recipe for disaster as we have seen in Portugal, Spain, Greece, and maybe Italy, and now Cyprus. As an ex pat living abroad it does not make any sense at all to keep all your money in the local economy. The wiser ones keep their money in a bank in the UK, and do a monthly bank transfer to a local bank account for living expenses, which they can withdraw in local currency. Yes, there will be currency conversion costs, but better that than losing 10% overnight, or the whole lot if the bank collapses entirely.

Ok, so British troops will be compensated, but if this report about shares in the banks is true, then the UK government should agree to buy those back from British ex pats at the appropriate rate so that they are not out of pocket. The end result may be that the UK government will hold a proportion of shares in Cyprus banks. Good, perhaps they can inject some sense into them to avoid accepting any more dodgy Russian money.

Watch this space ....
ID: 1348041 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 21021
Credit: 2,925,074
RAC: 564
Ireland
Message 1348063 - Posted: 18 Mar 2013, 13:25:57 UTC

Fair comment, but your answers for these?

So Mekon, why wasn't this implemented for: - Portugal,Ireland,Italy,Greece & Spain?


...interesting that the EU are doing this now.......

What about the Drug Cartels that invested in Europe....


Trying to step back from the lurid Mail and other press reporting.


...like the BBC. Most of the "interesting" links I've posted are from them.
ID: 1348063 · Report as offensive
Sirius B Project Donor
Volunteer tester
Avatar

Send message
Joined: 26 Dec 00
Posts: 21021
Credit: 2,925,074
RAC: 564
Ireland
Message 1348150 - Posted: 18 Mar 2013, 17:40:42 UTC - in response to Message 1348041.  

It is being reported by the BBC European news. There is no reference as to where they get that information from. If it is true then it makes a difference. BBC report

Trying to step back from the lurid Mail and other press reporting. It is being suggested that the Cyprus banks have been incompetent in their dealings, resulting in the position that they are in today, if so they deserve to be brought to book. It is also being suggested that the majority of deposits are of dodgy money from Russia, that deserves little sympathy, but that may not be all true 40% is Russian. The armed forces are being protected by the government, but what about the ordinary man in the street and ex pats? If a soldier willing to serve and die for his country needs compensating through no fault of his own, then yes, I will pay some of my taxes for that. Whether I should have to is another matter. Soldiers don't have any choice where they are sent, private people do have a choice where they choose to live or retire, but you have to be sensible about it.

Leaving apart Middle East oil, most countries bordering the Mediterranean do not have any mineral or other natural resources like diamond, gold, or coal mines etc. Because of their climate and architectural history, they mainly rely on tourism to survive. When there is a prolonged world recession as there is now, the first thing people do is cut back on luxuries like holidays. Coupled with the fact that most of these countries have fragile political regimes anyway, it is a simple recipe for disaster as we have seen in Portugal, Spain, Greece, and maybe Italy, and now Cyprus. As an ex pat living abroad it does not make any sense at all to keep all your money in the local economy. The wiser ones keep their money in a bank in the UK, and do a monthly bank transfer to a local bank account for living expenses, which they can withdraw in local currency. Yes, there will be currency conversion costs, but better that than losing 10% overnight, or the whole lot if the bank collapses entirely.

Ok, so British troops will be compensated, but if this report about shares in the banks is true, then the UK government should agree to buy those back from British ex pats at the appropriate rate so that they are not out of pocket. The end result may be that the UK government will hold a proportion of shares in Cyprus banks. Good, perhaps they can inject some sense into them to avoid accepting any more dodgy Russian money.

Watch this space ....


Update for you: -

EU Leaders gamble with bank bailout

Your one for the law & rule of law, so your post quoted regarding Russian money becomes suspect in light of this comment, which by the way, I fully agree with: -

"Politicians punishing prudent savers, to give to a corrupt banking system. If Russian money is being laundered in Cyprus, then it is illegal, and their assets should be ceased throught the courts.

The world has gone crazy, when politicians can simply steal money from saving accounts of its citizens.

Disgraceful, and another example of the folly of the euro.
ID: 1348150 · Report as offensive
Profile Gone with the wind Crowdfunding Project Donor*Special Project $75 donor
Volunteer tester

Send message
Joined: 19 Nov 00
Posts: 41577
Credit: 41,999,167
RAC: 464
Message 1348157 - Posted: 18 Mar 2013, 17:59:13 UTC

so your post quoted regarding Russian money becomes suspect in light of this comment, which by the way, I fully agree with: -

Talk about hedging ones bets .... Make your mind up laddie, you can't have it both ways.

This was the price for a 10bn-euro bailout. Without it Cyprus risked defaulting by May.

The Germans, however, were not prepared to support a larger bailout. They suspected that half of the deposits in the island's banks were held by Russians with much of the money being laundered. Rescuing high-rolling Russians could not be sold to German taxpayers.

International politics is something you obviously don't understand.

The world has gone crazy, when politicians can simply steal money from saving accounts of its citizens. Disgraceful.

Agreed in principle, when it affects innocent people in the street.

and another example of the folly of the euro.

And just what has the Euro to do with it?


ID: 1348157 · Report as offensive
Previous · 1 . . . 4 · 5 · 6 · 7 · 8 · 9 · Next

Message boards : Politics : 5: Big Bang Looming.......


 
©2019 University of California
 
SETI@home and Astropulse are funded by grants from the National Science Foundation, NASA, and donations from SETI@home volunteers. AstroPulse is funded in part by the NSF through grant AST-0307956.