What do the people in Cyprus think tonight?
bronco2078
Posts: 10,227 ✭✭✭✭✭
On a forum called CyprusLiving people are posting about the situation in the general discussion area there are a few threads if anyone is interested
Lots of nervousness and anger
Not seeing anything about protecting oneself with PM's jumping out at me
Stories like this bubble to the top of the news feeds for a week or two, and its easy to forget that real people are still being hurt long after the TV talking heads have moved on
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Comments
Seems at least one person is reasonable.
Knowledge is the enemy of fear
<< <i>What the figure is that my bank account is going to be taxed(again,stolen from as some would have it) it is a fraction of what i have saved in income tax,council tax,TV licence fees,parking charges,car tax,car insurance,petrol costs and a zillion other things that i have saved living on this sunny island in the past ten years or so. But alas i allways take the view that the glass is half full. So to all members who are going to draw their money out of their banks next week,posting on here how horrible Cyprus is, and more extreme,leave the island all together have you really give it some thought,and balanced the benefits of still being here despite this nasty shock we have all had
Seems at least one person is reasonable. >>
I don't think he is at all reasonable. If their government gets away with this theft of peoples savings (comprised of money that was already taxed) they would be naive to think their government won't do this again. They can continue to live in sunny Cyprus---just don't keep most of their wealth in their banks.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
Its outright theft to take money from regular peoples deposits to pay for the excess of bankers and crony capitalists.
That's what they are doing . Its what they always do.
There is no such thing as a safe bank because there is no such thing as an honest bank in the world today .
there are rumors that there were 2 or 3 of them in European history.
Banko dello Piazza del Rialto from 1585 for 40 years or so thereafter
Bank of Amsterdam 1609 until the 1650's
Bank of Hamburg 1620? or so until Napoleon took it over in 1813
We are on our 4th central bank here and its lasted 100 years , 100 years of theft by inflation
The ECB is what 15 years old? The ECB can't last another 15 at the rate its going.
edited for bad link
Mafia money
Reuters
Here's a warning parable for coin collectors...
<< <i>
<< <i>What the figure is that my bank account is going to be taxed(again,stolen from as some would have it) it is a fraction of what i have saved in income tax,council tax,TV licence fees,parking charges,car tax,car insurance,petrol costs and a zillion other things that i have saved living on this sunny island in the past ten years or so. But alas i allways take the view that the glass is half full. So to all members who are going to draw their money out of their banks next week,posting on here how horrible Cyprus is, and more extreme,leave the island all together have you really give it some thought,and balanced the benefits of still being here despite this nasty shock we have all had
Seems at least one person is reasonable. >>
I don't think he is at all reasonable. If their government gets away with this theft of peoples savings (comprised of money that was already taxed) they would be naive to think their government won't do this again. They can continue to live in sunny Cyprus---just don't keep most of their wealth in their banks. >>
For years and years and years these people lived without paying. Now its time to pay and they complain?
Knowledge is the enemy of fear
<< <i>i hope the administration in this country does not think they can try it here
If it does I can promise you guys some nice pics on my behalf in the metal porn Friday thread.
MY GOLD TYPE SET https://pcgs.com/setregistry/type-sets/complete-type-sets/gold-type-set-12-piece-circulation-strikes-1839-1933/publishedset/321940
<< <i>
<< <i>i hope the administration in this country does not think they can try it here
If it does I can promise you guys some nice pics on my behalf in the metal porn Friday thread. >>
Already made my bet a while ago that they will, and acted accordingly. If you wait until 'they' 'try', I'm afraid it will be too late. 'They' can even make it so any withdrawals over a certain amount X number of months prior be penalized at a higher rate, etc.
Corzine, Cyprus and the next big C - China.
For a moment, I was going to agree with you. That was until I realized that I don't know whether these people lived without paying or not. Do you know the situation in Cyprus?
The whole issue revolves around who has primacy during a bankruptcy proceeding. In the US, the bondholders used to be protected in a bankruptcy. The GM bailout negated that well-established precedent. In the case of Cyprus, the EU and IMF are trying to shore up the bank bondholders' positions at the expense of depositors, which breaks another set of precedents, i.e. bank depositor's insurance by that very banking system.
So, who's been living for years without paying? Again, I don't know the whole situation in Cyprus. If the banks are insolvent, like they are everywhere else I don't see any justification for screwing the depositors, regardless of whether the depositors have lived without paying. If the banks have mismanaged their own finances (while overpaying themselves for years), why shouldn't their officers and owners be penalized, just like in real life?
I knew it would happen.
The people on the cyprus forum I linked to are mostly British that have moved to Cyprus retirees or ex-pats . I would say anyone that fits that description probably worked for a living.
It would be difficult to see into the country on a chat board of Cypriot J6P types unless you could read greek, or turkish possibly? I'm sure they are online but I stopped looking when I found an English speaking forum.
It's like a condo homeowners association, if the roofs or the pool or the parking lot needs to get re-done, they do a special assessment, and everyone chips in.
You don't get to vote, and you don't get to say, "i don't use the pool" or "my roof doesn't leak", if you don't pay the put a lein on your place.
If someone doesn't agree with they way the place is run, they should sell it and move somewhere else.
And if anyone is afraid that there will be a "special assessment" that is unfair to them personally, they should take steps to protect themselves, like not keeping a lot of money in a bank account (buy gold and silver!) and being ready to move to a different place if the place you live isn't such a nice place.
Many people voluntarily pay a high cost of living to live somewhere really nice, yes the taxes are high, but it's so nice, others choose to live in a crappy place and think, "look at all this freedom I have! And no taxes!!" The trick is to find a really nice, low tax place, but good luck with that, nowhere has it all.
Maybe there are people in Cyprus (and New Zealand) thinking, "maybe I'll move somewhere else that is a better package deal than this location"
Liberty: Parent of Science & Industry
Historically, banks that needed funding took care of the problem with the spread between interest paid on deposits and interest charged on loans. This gave account holders a choice of where they would bank. The affected account holders did take steps to protect themselves - they chose to bank where they were protected by deposit insurance which is now appearing to be just a marketing ploy.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>I'd hope the people in Cyprus think the same thing all rational people think: that they choose to reside in a location that is a "package deal" with all the associated benefits, risks, opportunities, and "systems" that are in place in that location, it's institutions, people, infrastructure, access, freedom, culture, all that stuff that makes it a place for someone to live.
It's like a condo homeowners association, if the roofs or the pool or the parking lot needs to get re-done, they do a special assessment, and everyone chips in.
You don't get to vote, and you don't get to say, "i don't use the pool" or "my roof doesn't leak", if you don't pay the put a lein on your place.
If someone doesn't agree with they way the place is run, they should sell it and move somewhere else.
And if anyone is afraid that there will be a "special assessment" that is unfair to them personally, they should take steps to protect themselves, like not keeping a lot of money in a bank account (buy gold and silver!) and being ready to move to a different place if the place you live isn't such a nice place.
Many people voluntarily pay a high cost of living to live somewhere really nice, yes the taxes are high, but it's so nice, others choose to live in a crappy place and think, "look at all this freedom I have! And no taxes!!" The trick is to find a really nice, low tax place, but good luck with that, nowhere has it all.
Maybe there are people in Cyprus (and New Zealand) thinking, "maybe I'll move somewhere else that is a better package deal than this location" >>
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<< <i>Baley, comparing the agreement between an account holder and his bank with a condo homeowner contract is like comparing my economic philosophy to that of cohodk. Special assessments are not mentioned anywhere in banking customer agreements as they are in condo homeowner contracts. Condo owners agree to the socialist ownership arrangement, banking account holders do not. Your attempt to turn theft into a tax is flawed, it's nothing like a condo homeowner agreement. Your arguement sounds like it should be coming from those trying to steal the deposits.
Historically, banks that needed funding took care of the problem with the spread between interest paid on deposits and interest charged on loans. This gave account holders a choice of where they would bank. The affected account holders did take steps to protect themselves - they chose to bank where they were protected by deposit insurance which is now appearing to be just a marketing ploy. >>
Is there room left in Baleyville?
Just my 2cents worth.
My wife lived in Cyprus for a few years and has many contacts there.
Knowledge is the enemy of fear
<< <i>Do you know the situation in Cyprus?
My wife lived in Cyprus for a few years and has many contacts there. >>
Please inform us, news here can't be trusted. What's the word on the street?
Why, because the relatively easy life they lived is ending. Which I suppose is why the baby boomers in this country cry more than the Gen x'ers who will inevitably be paying the price.
Knowledge is the enemy of fear
<< <i> the relatively easy life they lived is ending. >>
Come on now, don't hold back. The relatively easy life they made for themselves is being stolen from them. They earned and saved that money in those bank accounts. It's not like government handouts are being taken from them.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
<< <i>
<< <i> the relatively easy life they lived is ending. >>
Come on now, don't hold back. The relatively easy life they made for themselves is being stolen from them. They earned and saved that money in those bank accounts. It's not like government handouts are being taken from them. >>
Say what???????????????????
I highly suggest you do a little research on the austerity measures that have taken place over the last year.
Knowledge is the enemy of fear
In a few years will you be saying this about the people living in trailer parks in Florida, or Kentucky, or Pennsylvania or Washington?
Knowledge is the enemy of fear
<< <i>
<< <i>i hope the administration in this country does not think they can try it here
If it does I can promise you guys some nice pics on my behalf in the metal porn Friday thread. >>
im sure
I was reading the cyprus forum this morning and apparently some gas stations are out of fuel and without cash can't get more.
In other reports merchants are refusing credit cards so folks without cash can't pay for things that way .
Regardless of how its resolved and whether anyone loses money , it only proves the need for a stash of paper money outside of the system.
Recently here when that last winter storm knocked power out to my area for a few days even when the stores got power they weren't taking debit and credit cards for 2 days afterwards.
I think people may have learned that in the NYC area after hurricane sandy as well . For a population used to electronic money a week or 2 without access to it can cause some serious problems.
That's why it is so frustrating when "the system" forces people into electronic transactions and casts anyone who doesn't use their preferred methods as a money-laundering suspect or worse. The banks are definitely complicit and the politicians are the entire problem. The whole arrangement is designed to cause grief, and I'm sure that it will ultimately result in grief for lots and lots of people.
The relatively easy life they made for themselves is being stolen from them
In a few years will you be saying this about the people living in trailer parks in Florida, or Kentucky, or Pennsylvania or Washington?
I can't believe that you would generalize with a statement like that! Surely, there are people who through no fault of their own, fall upon hard times - but just as surely there are many more people who simply love getting free stuff without doing squat to earn it.
I knew it would happen.
BREAKING: Russian treasury unable to meet it’s financial obligations. All government agencies see asset freeze in Cyprus-Prime Minister Medvedev
You'll have to take out the "?" in the URL this is the worst filtering I've ever seen on a site.
http://investment?watchblog.com/breaking-russian-treasury-unable-to-meet-its-financial-obligations-all-government-agencies-see-asset-freeze-in-cyprus-prime-minister-medvedev/