“It could never happen here”?
Tomorrow all bank deposits over €100,000 will have 10% expropriated in Cyprus, while Goat herders, taxi drivers, et al. (what the New York Times calls“pensioners, workers and regulator depositors”)...
View ArticleCyprus’s Sham-Wow
Yesterday the plan was to scalp all bank accounts over €100,000 by 10%, and everybody else by 6.75%. But now, the Cyprus’s government, just like in a Sham-Wow ad, right when you think has sucked up all...
View ArticleToday’s euphemism: Oligarch
ol·i·garch [ol-i-gahrk] noun Old meaning: one of the rulers in an oligarchy. New meaning: Russian mobster. Use: Russian oligarchs stung by Cypriot bank tax But it’s not just Russia that is affected...
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Cyprus: Steve Hanke follows the money
Read his post, and check out the graph: (click on graph for large version) No wonder Putin’s unhappy. This is not going to make you happy: The Government Generously Offers To Help You “Manage” Your...
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EU: Raiders of the lost savings UPDATED
They’re taking what’s yours This should take no one by surprise at this point; in fact, Kudlow was talking about it on his show last week, Cyprus bail-out: savers will be raided to save euro in future...
View ArticleCaptain Louis Renault goes to Cyprus
“I am shocked, shocked!” Mega-Rich Withdrew Money From Cyprus Before Looting The real targets of the “haircut” are businesses, entrepreneurs and the middle class News that the Cypriot President’s...
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