Nicosia, Cyprus--When European finance chiefs explained their harsh terms for rescuing Cyprus this week, many blamed the tiny Mediterranean nation’s wayward banking practices for bringing ruin on itself. But the path that led to Cyprus’s current crisis — big banks bereft of money, a government in disarray and citizens filled with angry despair — leads back, at least in part, to a fateful decision made 17 months ago by the same guardians of financial discipline that now demand that Cyprus shape up.
Comments: More financial tinkering with unintended (one assumes) consequences. Frau Merkel appears to be the bull in the china shop.
In an era of governance by thieves, it´s a good idea to understand the concept of a bank. The common belief that a bank is where they store your money until you need it is at the root of the problem. Banks simply take your money and spread it around to other people, charging them more to use it than they give you for giving it to them. That´s how banks really work.
So if a government of thieves tells the banks they MUST give your money to special people (well, like themselves, for example, or their pals and pet causes), and then those people blow it, that same goverment of thieves now knows where the rest of your money is ...that´s right, in the banks. So guess where they´re going to go to "fix" things. It´s like the fox knowing where the duck hid all her eggs.
Cyprus explained. And soon, Spain and Italy. And eventually, here.
While Europe acts like John Dillinger which will spread to Italy and Spain you all better prepare for it to happen here. Start putting your money in Bank of Folger Coffee Can and replace the stuffing in the mattress with your savings. Anything with an account number will be fair game. Obama has too much time left in office and 2014 will be his launch to total confiscation and theft of all monies. You´ve been warned by the bigfatslob.
This is a good reason not to accept the tripe of benefits the One Worlders espouse for making individual countries come under the control of one entity. The one entity cannot perform. It´s better left to the "locals" AKA known as the individual banking systems of each country. It´s a good reason not to allow the US to fall under global governance or the same thing will happen to us. The One Worlders are so derelict and incompetent they are like the Pac-man that just eats, eats, eats money it sees, then tries to eat more when it learns where additional caches of cash are, like #2 says. Stop the flesh, er cash eating bacteria!
He has, #8. They floated a trial balloon 4 years ago about taking a portion of everyone´s retirement plans and replacing that with US Treasury Bonds. It was to be a ´one-time only´ confiscation....bwahahaha
What the EU has done in one fell stroke is destroy any confidence in southern European banks. The Cyprus debacle is bad enough but that fool from the Netherlands said that they would use the same tactics on any country that asked for a bailout in the future.
A bank (or country) can´t exist if the depositers feel the government can steal their money at any time.
A thousand dollars in the Bank of Cyprus deposited four years ago sans theft equals 1250. The same thousand in ANY US bank equals 991 dollars. Capital controls notwithstanding, Cypriots with deposits under 100 grand in Euro´s is WAY better off than you. EC´s prez Trichet promised the new EU nation in 2008 through 2011 that if Cyprus invested in Greek bonds, that Greece bonds would not get a haircut. The EU from Brussels encouraged Cypress to by Greek bonds, sealed with a kiss. In 2012, the EU blew away the value of Greek bonds. What a shock. Who knew spending at 120 percent GDP would bankrupt a nation? Now, there´s about 10 TRILLION US bango bucks deposited in US banks. Guess how much FDIC has on hand to insure it all? 25 billion. For you in Rio Linda 25 billion is a LOT less than 10 trillion. As northern Europe sans ex-pat Brits in Cyprus, act like cows looking at a passing train, watch their continent implode, our stock market and our dollar is soon to be the uber strongest on earth until we implode. Say good-night, Dick.
Why be responsible when you created the crisis to begin with. Manufactured crises are simply ripe for the taking by the disingenuous crooks that set the wheels in motion. Who doesn´t see the end result of that scenario? Sound like anybody we know of...hmmm?
“Disgusting!” “Raunchy!” “Desperate!” So went the scathing reviews that poured in after once wholesome Disney star Miley Cyrus’ recent bizarre performance at the MTV Video Music Awards. (Snip) But the real scandal was how atrocious Cyrus’ performance was in artistic terms. She was clumsy, flat-footed and cringingly unsexy, an effect heightened by her manic grin. How could American pop have gotten this bad? Sex has been a crucial component of the entertainment industry since the seductive vamps of silent film and the bawdy big mamas of roadhouse blues. Elvis Presley, James Brown and Mick Jagger brought sizzling heat to rock,
The fact that United Nations weapons inspectors came under fire today in Syria as they attempted to visit the site of last week’s chemical weapons attacks didn’t do much to enhance the credibility of a mission that never had a chance of success. (Snip)Count me among those who believe that the U.S. cannot afford to make threats such as those made by Obama and let them slide. But if the U.S. attacks and Assad survives, America’s credibility—and that of the president—will be hurt, not enhanced. At this stage, mere gestures won’t be enough. To the contrary, once the West enters
President Obama urged law schools on Friday to consider cutting a year of classroom instruction, wading into a hotly debated issue inside the beleaguered legal academy. “This is probably controversial to say, but what the heck. I am in my second term, so I can say it,” Mr. Obama said at a town hall-style meeting at Binghamton University in New York. “I believe that law schools would probably be wise to think about being two years instead of three years.” The president’s surprising remarks, made while discussing how to make education more affordable, come at a time of crisis for
A little boy´s prayer for President Barack Obama has sparked the ire of conservatives after his mother videoed her son on his knees and uploaded it to YouTube. Much of the controversy revolves around the fact that like many young boys he seems to muddle his words up making it seem he is praying directly to the president. Thanking the commander in chief for his courage and bravery, the boy, known as Stephen, even thanks God for endowing the president with ´a special power´.
Washington--As hundreds of commuters emerged from Amtrak and commuter trains at Union Station on a recent morning, an armed squad of men and women dressed in bulletproof vests made their way through the crowds. The squad was not with the Washington police department or Amtrak’s police force, but was one of the Transportation Security Administration’s Visible Intermodal Prevention and Response squads — VIPR teams for short — assigned to perform random security sweeps to prevent terrorist attacks at transportation hubs across the United States.(Snip)With little fanfare, the agency best known for airport screenings has vastly expanded its reach
Washington--The Chinese sculptor Lei Yixin finished removing a contentious phrase on the memorial for the Rev. Dr. Martin Luther King Jr. on Thursday in preparation for the 50th anniversary of the March on Washington at the end of the month. The phrase came from Dr. King’s “Drum Major Instinct” speech. It read, “I was a drum major for justice, peace and righteousness.” Critics of the memorial, including the poet Maya Angelou, said the phrase did not show the true nature of the full quotation.
Galesburg,IL--In a week when he tried to focus attention on the struggles of the middle class, President Obama said in an interview that he was worried that years of widening income inequality and the lingering effects of the financial crisis had frayed the country’s social fabric and undermined Americans’ belief in opportunity. (Snip)“If we don’t do anything, then growth will be slower than it should be. Unemployment will not go down as fast as it should. Income inequality will continue to rise,” he said. “That’s not a future that we should accept.”
Audacity: Renowned neurosurgeon Dr. Ben Carson eloquently refuses to stay on liberalism´s black plantation. So, naturally, the left seeks his destruction. George Zimmerman´s prosecutors´ star witness, Rachel Jeantel — whose contentious, garbled testimony backfired badly — told CNN´s Piers Morgan of the jury that heard her, "They old. That´s old-school people. We in a new school, our generation." As she experiences her 15 minutes of fame, Jeantel would no doubt lump Benjamin Carson in with the "old-school people." But these two black Americans represent the different paths available to everyone in a free country, regardless of ethnicity.
President Obama is announcing for the umpteenth time he´s going to "pivot" to fixing the economy — as if that´s ever worked before, since it is he who broke it. That said, Obama will pivot to tiddlywinks if that´s what it takes to get out from under his mountain of scandals. (Snip)Here´s a fun fact: As a lawyer for the Washington law firm Wilmer Hale, Wilkins represented Rev. Wright´s Trinity United Church of Christ in 2007 when the IRS began asking questions about whether the tax-exempt church was too involved in political work for its most prominent member, Sen. Obama.
Trust: Why should anyone believe what the president says about ObamaCare? Last week he touted nonexistent rate cuts and rebate checks. And the White House now admits his promise about keeping your doctor was false. On Thursday, the president tried to shore up the ever-weakening support for ObamaCare by boasting about $100 rebate checks millions of Americans were supposedly getting in the mail thanks to the law´s restrictions on overhead spending by insurance companies. "Millions of Americans opened letters from their insurance companies," Obama said, and "were pleasantly surprised with a check." Not exactly.
A growing number of Americans are getting permission to carry firearms in public—and under their clothes—a development that has sparked concern among some law-enforcement authorities. Applications for "concealed-carry" permits are soaring in many states, some of which recently eased permit requirements. The numbers are driven in part by concern that renewed gun-control efforts soon could constrain access to weapons, along with heightened interest in self-defense in the wake of mass killings in Newtown, Conn., and Aurora, Colo.
The Obama administration is assembling a shortlist of candidates to lead the Federal Reserve, in the expectation that chairman Ben Bernanke won´t seek reappointment when his second term at the central bank ends in January, according to people familiar with the matter. (Snip)Mr. Bernanke has left his mark on the U.S. economy with a wave of easy-money policies in response to the 2008 financial crisis, recession and sluggish recovery that followed. His successor will need to figure out how to pull those policies back. If the Fed changes policy too soon, it could undermine the recovery.
Washington -- The White House defended President Barack Obama from criticism that he was tone deaf in his reaction to the mass shootings at Washington Navy Yard. For a second straight day, White House press secretary Jay Carney faced questions about a Monday afternoon event that occurred as the situation at the Navy Yard was still unfolding. Obama touched on the tragedy before forcefully criticizing conservative Republicans who are threatening to shut down the government. "I understand that some Republicans are trying to make something of this," Carney said
Their 12-year affair made Gennifer Flowers one of the most high profile mistresses in America. Now, two decades after they split amid scandal, the former news reporter from Little Rock, Arkansas wants to ‘sit down and talk’ with Bill Clinton. In an exclusive interview with MailOnline, Gennifer has spoken of her deep regret at turning down Clinton’s pleas to talk some eight years ago and revealed her belief that they would still be together today, were it not the birth of Clinton’s daughter, Chelsea. She said: ‘We have some unresolved issues that it would be nice to sit down and talk about
The 2008 Republican presidential nominee, criticised Mr Putin and his associates for rigging elections, imprisoning and murdering opponents, fostering corruption and "destroying" Russia´s reputation on the world stage. "I am not anti-Russian," Mr McCain wrote in the piece, which his office said was sent to both the Communist Party´s Pravda newspaper as well as to online media outlet Pravda.ru. The latter was expected to publish it today, his staff said. "I am pro-Russian, more pro-Russian than the regime that misrules you today." Mr McCain last week made no secret of his intention to write an op-ed piece for Russian media
In 2010, Republicans took the House of Representatives by gaining 63 seats. They also picked up six U.S. senators and 675 state legislators, giving them control of more legislative chambers than any time since 1928. The GOP also won 25 of 40 gubernatorial races in 2009 and 2010. These epic gains happened primarily because independents voted Republican. In 2010, 56% of independents voted for GOP congressional candidates, up from 43% in 2008 and 39% in 2006. Today, independents look more like Republicans than Democrats, especially when it comes to health care. In a new Crossroads GPS health-care policy survey conducted in 10
JOSE DIAZ-BALART, TELEMUNDO: The Affordable Care Act takes effect next month, The latest NBC/Wall Street Journal poll shows Americans oppose it, believing it will produce damaging results. Fifty-two percent believe the law will raise their health care costs. Is everybody wrong? PRESIDENT BARACK OBAMA: Yes, they are.### OBAMA: The problem we have is that over the last four years billions of dollars have been spent misinforming people about what this law is about. All of the horror stories that were talked about have not come true. It is going to be a good deal
I don’t know who is more shocked about this, me or Huma Abedin, but it turns out that a former top Clinton Foundation official is also … a senior Muslim Brotherhood official who has just been arrested for – you’ll never guess – inciting violence in Egypt. Not to worry, I’m sure it was only moderate violence. The Washington Free Beacon’s Adam Kredo reports on Gehad [as in Jihad] el-Haddad: A senior Muslim Brotherhood official who, until recently, had been employed by the William J. Clinton Foundation was arrested in Cairo on Tuesday and charged with inciting violence. Gehad el-Haddad served as one
In one of the most fascinating foreign policy interviews of all time, Fox News aired an unedited, lengthy and exclusive interview with Syrian President Bashar al-Assad Wednesday. The in-depth interview focused on diplomacy, chemical weapons, the death toll from the two-year-old war, the rebels’ goals, future governing and the region’s stability. Assad appeared calm, comfortable and yet delusional, talking in almost perfect English, as he consistently labeled the rebels as “terrorists,” claiming that 80 - 90% of the opposition fighting against his military was comprised of Al Qaeda supporters and other jihadists. In talking about the origins of the conflict, Assad failed to
It´s hard not to admire how Senator Ted Cruz spent his summer. Months of touring the country and TV appearances telling conservatives that he wanted an (unwinnable) fight with the White House on Obamacare, getting the fight, and now sitting ringside cheering half-heartedly as the House throws punches. Cruz, a freshman from Texas, wasn´t the first guy to suggest that the party use a budget fight as leverage to rollback the Affordable Care Act, the president´s signature legislation. That idea dates back to 2011, as Chris Hayes noted on All In Wednesday night. In his segment, Hayes probably gave Cruz more
Raising the debt ceiling doesn´t increase the nation´s debt, Pres. Obama declared in a speech today. In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it´d been done so many times in the past: "Now, this debt ceiling -- I just want to remind people in case you haven´t been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy.
For those of us foolish enough to live in a crime-gripped city that summarily denies our constitutional right to protect ourselves, this week´s massacre at the Washington Navy Yard pretty well sums up our insane, defenseless existence.Our Capitol Hill neighborhood drowned in the screams of sirens as police cars, vans, trucks and armored vehicles streaked through the narrow streets at deadly speeds. The skies filled with the constant whopping of countless helicopters.
On Tuesday night, Starbucks CEO Howard Schultz wrote the following open letter asking customers to no longer bring firearms into the stores, even in states where they are legally permissible to carry. He notes that this is not a "ban" on guns, but rather a request. In the letter, Schultz expresses frustration with pro-gun activists who have held "Starbucks Appreciation Day" events at the company´s location, ostensibly to laud the coffee shop´s policy on open-carry. Schultz does not want these events held at Starbucks any longer. With the letter, he risks incurring the anger of a large segment of the population.
The liberal media is so obsessed with linking the Navy Yard shooter with the AR-15 rifle that it is making up false tales of Aaron Alexis trying to obtain one. The New York Times attempts to give the impression that a so-called assault-weapon law stopped Alexis from buying a rifle in Virginia, but that is not true. The Times has a story Tuesday on its homepage with the headline “State Law Stopped Gunman From Buying Rifle, Officials Say.” The first line says: “The gunman who killed 12 people at the Washington Navy Yard on Monday test fired an AR-15 assault