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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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The Cyprus Stock Market Has Lost 98% Of Its Value In The Last 5 Years - http://www.businessinsid...the-last-5-years-2013-3
 Thus the bank deposit raid. Smart the eurocrats think. Cypriots have lost on equities, bad economy and now raid their small savings... This is a classic ticking time bomb that any economist or political analyst will run for cover on spotting the smoking gun... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Market talk is that the Cyprus CB says that banks will remain closed till Thur. SMH a bank run is inevitable... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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hisah wrote:Market talk is that the Cyprus CB says that banks will remain closed till Thur. SMH a bank run is inevitable... Rumour confirmed - Cyprus banks to remain shut Tuesday and Wednesday: government source
http://www.reuters.com/a...s-idUSBRE92H0M120130318
Quote:Banks in Cyprus will be shut on Tuesday and Wednesday pending a decision by parliament to approve a levy on bank depositors, a government source told Reuters.
"Tuesday and Wednesday are bank holidays," the source said. A decree will be released shortly from the Finance Ministry to this effect, he said.
Things have tipped here!   $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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hisah, I also found this interesting, in regard to Vatican scandals http://www.prose-n-poetry.com/display_work/10583/
So many murders took place afterwards... GOD BLESS YOUR LIFE
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Rank: Elder Joined: 2/26/2012 Posts: 15,980
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hisah wrote:hisah wrote:Market talk is that the Cyprus CB says that banks will remain closed till Thur. SMH a bank run is inevitable... Rumour confirmed - Cyprus banks to remain shut Tuesday and Wednesday: government source
http://www.reuters.com/a...s-idUSBRE92H0M120130318
Quote:Banks in Cyprus will be shut on Tuesday and Wednesday pending a decision by parliament to approve a levy on bank depositors, a government source told Reuters.
"Tuesday and Wednesday are bank holidays," the source said. A decree will be released shortly from the Finance Ministry to this effect, he said.
Things have tipped here! Postponing the bank run is useless, the ques will still be there on Thursday "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Holy monies... 
Keep reading to spot the church & charity fund links to 'holy monies' and why it's always been untaxed... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Veteran Joined: 7/5/2010 Posts: 2,061 Location: Nairobi
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murchr wrote:hisah wrote:hisah wrote:Market talk is that the Cyprus CB says that banks will remain closed till Thur. SMH a bank run is inevitable... Rumour confirmed - Cyprus banks to remain shut Tuesday and Wednesday: government source
http://www.reuters.com/a...s-idUSBRE92H0M120130318
Quote:Banks in Cyprus will be shut on Tuesday and Wednesday pending a decision by parliament to approve a levy on bank depositors, a government source told Reuters.
"Tuesday and Wednesday are bank holidays," the source said. A decree will be released shortly from the Finance Ministry to this effect, he said.
Things have tipped here! Postponing the bank run is useless, the ques will still be there on Thursday And if the parliament vote doesn't pass? Will a Cyprus exit from the Euro follow and will that trigger exits from Greece, Spain and Italy in quick succession or will they let Cyprus sink and reign in hard the bigger Euro economies ...or will they let the levy on the deposits quietly drop and meekly handover the 10B lifeline? ...Will Merkel survive oncoming elections? ..Interesting times
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Btw Cyprus stock mart is also on halt till thursday - 'Stocks holiday'. http://www.cse.com.cy/en/default.asp So thursday the CSE, which has crashed 98% since GFC will be back to business (I hope pension funds are not stuck in that crash). The exit stampede should be of equal measure just like the expected bank run. Being a banker in this nation will be a suicidal career. Anyway not to worry, Cyprus is too small a nation to mess euroland, so they say. But I see a Putin curveball coming when least expected. This guy always has nasty come backs... @quicksand - that's why we have a long bank holiday. Must convince all to vote otherwise brimstone falls in cyprus as per the political talking heads. I hope it goes the Iceland way - vote fails and defaults are triggered by March 21. Did Iceland die, nop. The default trigger will send shockwaves to PIIGS. The EU banksters will be pissed, so what... This can kicking just to accomodate the banksters filth has to stop. And the planet needs a wake up call... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Stock holiday? Mscheew! GoZ/RBZ put us on an indifinite hibernation at the height of #Casinonomics which lasted 3 months coz it lasted 3 months   Life and sanity was a challenge for a mid-20s wanderer/scrub/self proclaimed Contrarian - eish! Uncertainity at its best/worst but graduated out with rugged shock absorbers & noise filters *stripes* Zimbabwe stock exchange restarts, trades in dollars after 3 months http://mobile.reuters.co...E51I0ES20090219?irpc=932
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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Fannie Mae & Freddie Mac are up over 90% in 3 days!!! These are the times I need a crystal ball, dont wanna buy at the top, but I said that yesterday and its now up 30% http://finance.yahoo.com/q?s=FMCC
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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OMG up 128% in the last 5 days, just shoot me!
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Quebec to ramp up mining taxes http://www.montrealgazet...plan/8106531/story.html
GOD BLESS YOUR LIFE
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Rank: Chief Joined: 3/24/2010 Posts: 6,779 Location: Black Africa
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Cyprus OVERWHELMINGLY Rejects Bank Deposit Tax, Scuttling Bailout Deal http://reuters.com/artic...92G03I20130319?irpc=932
Take that, Germany! Putin smiling;-) GOD BLESS YOUR LIFE
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Yep, draconian bill takes a heavy TKO. Tomorrow will be a long day with endless angry phone calls from Brussels
Sweet default this will be. CDS trades coming up as equities nosedive very hard.$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 1/13/2011 Posts: 5,964
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Brent check: $107.6. Wonder where it'll be at by the time the news makes a round-trip.
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Nabwire wrote:Fannie Mae & Freddie Mac are up over 90% in 3 days!!! These are the times I need a crystal ball, dont wanna buy at the top, but I said that yesterday and its now up 30% http://finance.yahoo.com/q?s=FMCC
Either today's FOMC minutes will indicate that the fed will burn another hole buying more MBS or something grander.
With the USD having gained some as well as US stocks at pre GFC highs, something has to give. USD can only continue up if the fed hikes the interest rate. After today's FOMC it's either equities continue rallying as the USD gets sold or vice versa. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 11/7/2007 Posts: 2,182
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[quote=Nabwire]Fannie Mae & Freddie Mac are up over 90% in 3 days!!! These are the times I need a crystal ball, dont wanna buy at the top, but I said that yesterday and its now up 30% http://finance.yahoo.com/q?s=FMCC[/quote] i thought fernie mac went bankrupt in 2008!!! LOVE WHAT YOU DO, DO WHAT YOU LOVE.
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Rank: Veteran Joined: 7/22/2011 Posts: 1,325
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Wow! I hadn't seen this LIBOR angle. $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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Cyprus banks shut until Tuesday amid scramble for Plan B - http://www.bbc.co.uk/news/world-europe-21855163
Quote:Cypriot officials have said the country's banks, which were closed to prevent mass withdrawals, will remain shut until at least Tuesday.
On Wednesday afternoon the cabinet began an emergency meeting to discuss alternatives to an EU-IMF bailout deal rejected by parliament on Tuesday.
Germany says banks in Cyprus may never reopen if a bailout is not agreed.
Meanwhile, Cyprus' finance minister is in Moscow to seek help from Russia, which has large investments in Cyprus.
Finance Minister Michalis Sarris said after talks with Russian Finance Minister Anton Siluanov: "There were no offers, nothing concrete," but he added, "we're happy with a good beginning."
Talks are expected to continue in Moscow on Thursday.
Reports say the government is considering imposing capital controls to prevent funds leaving Cyprus when banks are reopened.
Monday 25 March is a scheduled bank holiday, and Thursday and Friday have also been declared bank holidays. The stock exchange also remains closed.
And so I wonder how the small guy is surviving with no cash at hand since last Sunday... Also note that veiled German threat... $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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