F430murci

Perhaps fractional reserve banking is on the outs after some 500 years.

Fractional lending is here to stay, at least in US. Fed is not going anywhere. Unfortunately, tighter regulation is still needed. Banks should not be allocating large portions of their portfolio to high risk investments, CDOs or junk bonds. That is for hedge fund investors and there is a reason hedge funds are for qualified accredited investors. Issue of very poor regulation and trying to cover high interests paid to encourage large deposits from foreign investors.

This article places Cyprus bank issue into perspective.

http://www.nytimes.com/2013/04/01/business/global/calculating-impact-of-cypruss-bank-bailout.html?pagewanted=all&_r=0

Calculating the Impact of Cypruss Bailout
By LANDON THOMAS Jr.
Published: March 31, 2013

WHAT are the implications of the huge losses 60 percent that the Cypriot bailout is imposing on the biggest depositors of that countrys two largest banks?
Related

As Banks in Cyprus Falter, Other Tax Havens Step In (April 1, 2013)
The magnitude of the losses, disclosed late Friday and confirmed Saturday by Cypriot officials, has provoked concern that depositors in second-tier euro zone banks in Slovenia and Italy might withdraw their savings from those institutions.

As I said before China and Russia want nothing to do with this problem and are keeping well out of it.

China was the first to warn Nth Korea to stop the being aggressive and now Russia yesterday told Nth Korea to stop being aggressive and sabre rattling.

Now Nth Korea state after tearing up the Cease Fire agreement they are in a State of War. This is getting very close now, as we all know the mentality of the East (Save Face) we now have a heap of Military idiots in the threatening Nth Korea with their hand on the firing mechanism. Not good.

Remember the mentality of the Asians, I quote, "If you were not in my country, I would not have had that accident" Saving Face.

When will people get this? N & S Korea have BEEN AT WAR ever since the cease-fire, which is what it was, a C-E-A-S-E--F-I-R-E.................ONLY!! NOT a peace treaty! As for Kim Jung Un - he's certifiable. There's no negotiating, discussing, or even long-term appeasement possible. Not a remote chance. Until the pointy-headed pollyannas of the world grasp this simple fact, the destructive potential posed by the north and its threat to world peace will only worsen, and North Korean peasants will only get more hungry. And we can thank the Chinese & Russians for aiding & abetting this monster up until now.

I did read and hear some stuff from the Fox news brain trust and former millitary and Bush lackies saying that China is as frustrated with the 5'2"" midget with elevator shoes for threatening nuclear action against US and that South Korea would quickly decimate North Korea, even without US help, if North Korea invaded. The primary concern was about 1,000 conventional missiles might hit Seoul during process.

Not necessarily vouching for this. Just conveying what I heard today, albeit very limited coverage or discussion here.

Didn't it say "Deposits up to 100,000 euros are safe and will be paid out to customers, but only 40 percent of deposits exceeding that amount are certain to be paid out in full" in the OP?

Yes, hopefully that means those that are not bogus or crooks will not lose too much.

This is a disaster - everyone should read much more in depth about this ... When a governmental can by fiat take money from private - personal bank accounts - then we are all in a very serious situation. And the small account holders are being hurt ...

Didn't it say "Deposits up to 100,000 euros are safe and will be paid out to customers, but only 40 percent of deposits exceeding that amount are certain to be paid out in full" in the OP?

Yes, hopefully that means those that are not bogus or crooks will not lose too much.

I'll be very happy to debate the role of the US in helping to perpetrate many of the world's crises in the last century and this one. Start a thread! It's an issue worth spending time on, IMO.

DIG

Great, you want to bash the US which generally takes care of it's people yet refuse to acknowledge a country that treats its people in such a way that 1/3 of it's children have some form of dwarfism due to malnutrition and lack of care. Very disingenuous. Maybe personal beliefs, prejudices or pride have blinded you to true human sufferings.

The solution is certainly worse for the investor than to let the Cypriotic banks collapse, isn't it? What's a bank folding? Nobody gets hurt. They believed they can create more money by sitting in the bank in front of a computer monitor shifting funds around, not by investing in the real economy that manufactures and provides services, but lets not blame them but the government, and the EU. Poor, poor investors, just wanted to elude some taxes, and launder illegal earnings, innocent stuff really, but fell victim to the EU cabal. What a tragedy.

Much truth here. Truth many refuse to see, but many innocents caught up in it also. Most of them probably had less than 100k though.

Jdgruen:

Thanks. Not suprising. Although I imagine a few were going to die if they didn't let some of those Russian big wigs get there money.

Coming soon to a US bank near you. Except they'll just call it a teller fee.

Damn near in 2008 thanks to CMO. Main US Banks are very solid now. Even BofA has just about resolved Countrywide liability and amazingly overserved for it in a very short period of time. The bigger issues are still Euro and China has big, big problems. The vast majority of the US QE money is currently landing on foreign balance sheets shoring up foreign reserves that were severely deficient. Most US wealth tied up in equities and very few have huge amounts sitting in uninsured accounts. The story about the guy with a million in his Cyprus account at age 65 is very sad.

What military base in Thailand are you referring to?

"or perhaps even Thailand" was intended to be separate from clause about millitary base . . . Awkward sentence.

I fail to see how this is legal. Isn't it really stealing people's money?

Well normally peoples money is stolen by high and permanently understated inflation, or indeed by legislation to target certain groups. What makes this different is the post-hoc nature of the theft. In effect any contract, implied or otherwise with a Eurozone domiciled bank is no longer worth the paper it was written on.

Theft by understated inflation??? Actually most of the Russian billionaires stole their money from common Russians, even Putin. After 1991, they simply took what once belonged to all Russians and profited while other suffered.

Frankly, your posts are of someone who does not seem to have a faintest clue

US and UN has had years to do something about NK but could not.

Nothing has changed this time round. Yes military strike is the only option, but rest assured it is not easy.

One fact alone that you actually believe that US can neutralize 1.2 million men army, shows your total lack of common sense on the matter.

The fact that you do not even grasp the proximity of South Korea and consequences of aerial bombardment is a clear indication that you either need to educate yourself or stop posting rubbish.

Yes NK may well have outdated military and everything else, however they still posses nukes, still have million men army, still have the artillery and still led by delusional regime.

Yep, your message is no different than terrorists and whack jobs that think they cando and act as they wish because the world is impotent to deal with them do to politics and perceived back lashes.

News for you sonny, those days are passing us by. US has shown it is not afraid to do what it has to do to neutralize threats. Up until now, NK has been little more than a joke and not a legitimate threat. Once they cross that line, they will be dealt with swiftly and efficiently.

NK does not have any complicating factors such as oil or threats to Israel. Not much to keep us from leveling them is becomes necessary.

The proximity of Seoul is one complicating factor, but the main one is western liberals who have tied western armies up with restrictive rules of engagement in just about every war from Vietnam onward.

The proximity of Seoul and Japan and the amount of conventional artillery especially in Seoul's direction. Chemical weapons toward Seoul would be a concern. I would think anything nuclear would be lobbed at US base locations in Japan, Phillipines or perhaps even Thailand. Who knows what a desperate idiot with an inferiority complex that is about to die would do.

You are an American, yet you lump together a well respected media outlet, Christian Science Monitor, an ex commander of the US 1st Special Forces Group and the Center for Strategic and International Studies in Washington under the definition of some weirdo internet contributors? You either have no idea what you're talking about or just posting flame content

You could interview 5 different former commanders and get five different best and worst case scenarios. You would prefer to have a US that is impotent to deal with the situation so you gravitate toward and cite articles such as this. Makes little difference.

The US does not take this whack job seriously and this entire situation gets minimal media attention over here. If he was a serious threat, he would be dealt with swiftly and decessively with little concern about what either you or I chose to believe.

There is a number of Thai $ billionaires. Abramovich, Putin and folks like these have pulled their funds from Cyprus already, it was in the news that large amounts have been transfered despite the ban, and a bank CEO was sacked over that scandal. To lower class of millionaires ist trapped only, doctors, architects, small-business owners.

It was a joke about Thais having any money.

You may be correct or this could be speculation. Link up source if you have one. Many Russian players seems pretty pissed off right now according to what I am hearing from Russian wife that is an investment banker and also structures a lot of Cayman stuff for these guys.

Abramovich and Ambramov, only worth about 4 billion, may have gotten okay. Maybe not. They had a lot tied in in Cyprus holdings, banks and businesses.

Lots and lots of Russian money at stake here.

what about thais

Do Thais have any money?

Seriously, Abramovich and most Russian billionaires and large businesses had huge amounts in Cyprus. This article says even Putin stands to lose big and this issue could cause increased friction with Russia.

http://m.guardiannews.com/world/2013/mar/29/cyprus-bailout-germany-russia-relationship

Lots and lots of Russian money at stake here.

Yet again more rubbish.

A military action is a military action with consequences.

The funny part is I hear nothing of this in US. No news on this or anything. Fat boy is a joke over here. The only people in danger are you guys in SE Asia except for US has sufficient power and technology to get this dude reigned in.

Truth is that your dysfunction or disconnect is contrary to the one thing that actually keeps you safe at night. The rational response would be one of gratitude not condemnation.

North Korea (the military) has everything to lose and just like the Burmese junta they live a grand life whilst the rest of the country struggle. Somehow, I don't think they have anything to gain, most NK's probably have no idea what is going on. I think it's another bluff game to get a pay off. As for those saying IF NK start something it will be game over, would do well to look at all the other 'game over' wars and how they are doing.

Exactly. What I alluded to before. Completely foolish for them to do anything as they have nothing to gain and everything to lose.

The truth is you guys have more skin in the game if things go south than I. I live in US and can sleep great at night, but NK could really cause problems for everyone in SE Asia.

I will be in Russia for 30 days in July and Thailand for 30 days in August so I do hope this gets sorted out as I don't want to put my family in the muddle of some bs. I also hope it gets sorted out for those of you that live in SE Asia because it is some ridiculous bs.

Frankly, your posts are of someone who does not seem to have a faintest clue

US and UN has had years to do something about NK but could not.

Nothing has changed this time round. Yes military strike is the only option, but rest assured it is not easy.

One fact alone that you actually believe that US can neutralize 1.2 million men army, shows your total lack of common sense on the matter.

The fact that you do not even grasp the proximity of South Korea and consequences of aerial bombardment is a clear indication that you either need to educate yourself or stop posting rubbish.

Yes NK may well have outdated military and everything else, however they still posses nukes, still have million men army, still have the artillery and still led by delusional regime.

Yep, your message is no different than terrorists and whack jobs that think they cando and act as they wish because the world is impotent to deal with them do to politics and perceived back lashes.

News for you sonny, those days are passing us by. US has shown it is not afraid to do what it has to do to neutralize threats. Up until now, NK has been little more than a joke and not a legitimate threat. Once they cross that line, they will be dealt with swiftly and efficiently.

NK does not have any complicating factors such as oil or threats to Israel. Not much to keep us from leveling them is becomes necessary.

Please stop with the nonsense

US did really well in Pakistan, Afghanistan last time around and this time around, Vietnam, Iraq.

Its just a walk in the park

Again, completely different scenarios because US tries to stabilize those areas due to politics, oil, Israel or you name it. The US cares little about NK and will neutralize if it has to.

Matters little what you or I think, dude in NK is a dumb butt that has it pretty well, but is about to be no more. We can can debate all you want. Won't change reality and your unfortunate issues.

Frankly, your posts are of someone who does not seem to have a faintest clue

US and UN has had years to do something about NK but could not.

Nothing has changed this time round. Yes military strike is the only option, but rest assured it is not easy.

One fact alone that you actually believe that US can neutralize 1.2 million men army, shows your total lack of common sense on the matter.

The fact that you do not even grasp the proximity of South Korea and consequences of aerial bombardment is a clear indication that you either need to educate yourself or stop posting rubbish.

Yes NK may well have outdated military and everything else, however they still posses nukes, still have million men army, still have the artillery and still led by delusional regime.

News for you sonny, those days are passing us by. US has shown it is not afraid to do what it has to do to neutralize threats. Up until now, NK has been little more than a joke and not a legitimate threat. Once they cross that line, they will be dealt with swiftly and efficiently.

NK does not have any complicating factors such as oil or threats to Israel. Not much to keep us from leveling them is becomes necessary.

Even if solely an air attack you do not believe that China and US allies will take of responsibility for North Koreans internally displaced and refugees crossing the border into South Korea - wrong.

Wasn't my analysis, from the ex head of US Special Forces operations for AsiaPac and previous commander of the US 1st Special Forces Group. He estimated of the 600k troops North Korean stationed near the border around 150k would be able to penetrate South Korean defenses in the first 1/2 days. Went on to say counter attack effort would take around one week to neutralise, but one of the major issue will be resolving civilian internal displacement and refugees from North Korea (est 3m civilians). As already stated planning for US/S.Korean Special forces allegedly in place to take control of the launch facilities and other major military facilities.

http://www.telegraph.co.uk/news/worldnews/asia/northkorea/9296587/US-special-forces-parachuted-into-North-Korea.html

Rubbish. We could hit their front lines so hard they would be running home for momma. Again, you just spew more bs similar to that the NK whack job relies upon to act like a fool in hopes that US or anyone would be paralyzed or impotent to act due to refugees or concerns about China or nuclear fallout.

Clowns like you obviously prefer to have clowns like NK powers leveling threats against countries trying to live in a civilized manner rather than ridding the world of such problems.

The real issue is simply that the US views this fool as a joke, but as soon he he poses any real threat he is done. End of story.

The alleged bullshit is from an ex US Special Forces brigadier general, detail at:

http://www.csmonitor.com/USA/Military/2013/0329/North-Korea-What-happens-if-Kim-Jong-un-acts-on-his-threats

The net has stories of alien abduction and big foot humped my dog on the net also. I guess you believe those as well since they are on the Internet.

Even if solely an air attack you do not believe that China and US allies will take of responsibility for North Koreans internally displaced and refugees crossing the border into South Korea - wrong.

Wasn't my analysis, from the ex head of US Special Forces operations for AsiaPac and previous commander of the US 1st Special Forces Group. He estimated of the 600k troops North Korean stationed near the border around 150k would be able to penetrate South Korean defenses in the first 1/2 days. Went on to say counter attack effort would take around one week to neutralise, but one of the major issue will be resolving civilian internal displacement and refugees from North Korea (est 3m civilians). As already stated planning for US/S.Korean Special forces allegedly in place to take control of the launch facilities and other major military facilities.

http://www.telegraph.co.uk/news/worldnews/asia/northkorea/9296587/US-special-forces-parachuted-into-North-Korea.html

People like you obviously prefer to have clowns like NK powers leveling threats against countries trying to live in a civilized manner rather than ridding the world of such problems.

The real issue is simply that the US views this fool as a joke, but as soon he he poses any real threat he is done. End of story.

Rubbish, if it came to war their would be a massive refugee issue for both China & South Korea/US to manage. US analysis has estimated approx 3 million refugees.

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Uhm, removing their millitary power in 24 to 48 hours, absent ground invasion which will never happen, is not war leading to 3 million refugees. War is what happens if US doesn't intervene and just level their military capability in an instant.

Haha, can hardly wait to hear what else you gotta say about this with your anti US pro Muslim mentality hidden by a charade of rationalization and intellectual dishonesty.

At least don't be dishonest. My point was that US can take out NK military capability in 24 to 48 hours and probably take out fat boy quicker than that because he is not as smart as UBL and his progeny.

3 million refugee crap is the kind of bs thrown out by those that try and sway opinion against doing what is right and letting whack jobs pose threats to a higher order.

If it starts it better end quick. The American public does not have the stomach for war. As soon as the first soldier's funeral, the left will be screaming to end the war. It doesn't matter how many amazing weapons they have, the real fight is with public opinion.

Although it is helpful that hardly anyone knows any North Koreans personally.

.

You must be kidding. The US has been at war with someone my entire life. The people have become desensitized to it. If this were the case, why have the streets in the US not been filled with protesters about Iraq and Afghanistan? Even after knowing that both were started under false pretenses. No, sadly the average American is only concerned about their lot in the life, what times the football comes on the TV, if they can pay their monthly bills and if their belly is full.

western countries call that brain washing when it comes to NK, same same maybe????

I would hardly call it brain washing. It's work your butt off and enjoy life without having to worry about the basic necessities of life or things like safety, food, shelter, cars, homes, sending children to college, what wine to order with dinner, what car to drive to the Saturday social event or etc.

Brain washing is people that are starving, having xxxxxx homes, no education, no private transportation and blindly hoping that your leader has your best interst and being too scared to take a stand otherwise.

Definition of a sociopath should include a country leader that exploits the entire population under his control to live the high life and no body messes with him, yet he feels the need to go provoke somebody that can f his world and take all of that away in an instance. What a dumb arse he is.