Comments on: Cyprus deposit grab sets bad precedent http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/ Mon, 18 Apr 2016 14:55:08 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: SamuelReich http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-573 Tue, 19 Mar 2013 01:27:40 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-573 So every one will become their own investment manager and end banking and cheap loans. Finance and economics now will be best sellers now that it open that you cannot trust.

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By: gliderpilot http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-572 Tue, 19 Mar 2013 00:32:33 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-572 Whats the difference between confiscation of your bank account and confiscation of your pay check? The one you are accustomed to and the other you aren’t, thats all.

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By: valwayne http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-571 Mon, 18 Mar 2013 23:08:38 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-571 What they are doing in Europe is nothing less than Stealing money from anyone stupid enough to put their money in a bank. And if the E.U. will force them to do it in Cyprus, then the socialists in Europe can do it anywhere anytime. And Americans who have their money sitting in checking and savings accounts, or CDs, or any other type of instrument shouldn’t think that they are safe. If the Socialist in Europe can deal with their DEBT crisis by just stealing money from people’s bank accounts, then Obama who has us on the same path will do the same thing here. I read the news this morning with absolute amazement? Why would anybody in Cyprus keep a penny in a bank when its its now been proven beyond a shadow of any doubt that the people we all thought were crazy all these years for digging holes to bury their money in a back yard were absolutely right? Americans who think Obama and the Democrats won’t steal their money from their accounts in another financial crisis are deluding themselves. Obama has the U.S. on the exact same path as Europe folks. What you see there today you will likely see from Obama just down the road here in the U.S.

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By: keebo http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-570 Mon, 18 Mar 2013 20:41:41 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-570 “Confiscating savers’ money will knock confidence in the banks. Trust in the government will also take a hit, since Nicosia had theoretically guaranteed all deposits up to 100,000 euros. Small savers should be encouraged not penalised. They are the quiet heroes of the financial system, who squirrel away their savings, not those who drag it down by engaging in borrowing binges.”

The holding down of the fair cost of money by the fed is in fact a tax on savers in the U.S. and via currency war throughout the world. Why should these guys be allowed to pick the winners and losers in the economy?

They created the conditions for moral hazard to exist in the financial system (an early example would be their dealing with the geniuses at LTCM). They also are a major regulator to the banks and demonstrated their ineptitude in that area.

When will it dawn on those who can impose some discipline that the guys at the Fed are not all that smart? Bernanke and company behave like a bunch of spoiled bullies intent on having their way.

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By: Rushbabe2 http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-569 Mon, 18 Mar 2013 19:29:15 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-569 In case you don’t already know this… America is becoming Greece, Cyprus or whatever………

This president, whom I didn’t vote for of course, is sending our country down. And it won’t be back.

Once you give Obama all the power, its gone forever.

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By: Rushbabe2 http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-568 Mon, 18 Mar 2013 19:29:09 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-568 In case you don’t already know this… America is becoming Greece, Cyprus or whatever………

This president, whom I didn’t vote for of course, is sending our country down. And it won’t be back.

Once you give Obama all the power, its gone forever.

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By: SheriffofNott http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-567 Mon, 18 Mar 2013 18:05:37 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-567 I for one am pleased. Just as in Greece, but this time even more efficiently and effectively, the people are being punished for the profligacy. If they are not punished, how will they learn? Without pain, there is no gain. The people of Southern Europe can only learn through Pavlovian conditioning. They must accept that their old lifestyle of siestas, financed by German and Dutch taxpayers, is over.

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By: lisandro http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-566 Mon, 18 Mar 2013 10:22:36 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-566 Why and how on earth can you suggest that the future of Zyprus is still to be an offshore financial centre?? Is it not proven already that it was this industry which drove Zyprus into bankrupcy? Of course it is common sense to tax non-insured and unguaranteed deposits above €100th and leav the rest untouched. What makes this so difficult to see? Get rid of the offshore business, get poorer maybe but at least make an hoest living.

I normally greatly appreciate your bolg entries but here you loose me.

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By: nzl-kz7 http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-565 Mon, 18 Mar 2013 09:06:42 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-565 Sir,

I fear you have missed a vital point.

If the Cypriot government violates the small depositor ceiling of eur 100,000.

They are telling ALL GLOBAL small depositors, that their deposit insurance is not worth the paper it is written on.

The Global Financial system can not withstand the possible backlash from that statement.

For this reason if no other, the eur 100,000. floor must not be violated in Cyprus.

The IMF and Eurocrats were on drugs, completely out of touch with reality, or on drugs and playing a game with the global financial system when they made the Cyprus “bail in” terms.

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By: Betowess http://blogs.reuters.com/hugo-dixon/2013/03/18/cyprus-deposit-grab-sets-bad-precedent/comment-page-1/#comment-564 Mon, 18 Mar 2013 04:50:15 +0000 http://blogs.reuters.com/hugo-dixon/?p=519#comment-564 On some other articles regarding this supposed bailout, many wrote extreme right wing arguments saying the socialist robbery was outrageous. Well, what I am seeing is the EU governments taking their marching orders from financials, regardless of the consequences to impoverished main street, and the stupidity of austerity in a time of depression/recession.

That financials continue to get such favored treatment only proves the EU group is in the pay of the banker/elite fund managers, who rarely take a hair cut such as is being imposed on folks who had no part in the financials gambles.

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