Anne Barnhardt on Cyprus (we are next in line)

[Large Sarge]

Cyprus is MF Global on a national, retail banking scale. Corzine absolutely blazed this trail. The particulars are almost exactly the same. Both MF Global/Corzine and Cyprus were failing entities, both took massive, uber-leveraged risks on European sovereign debt, both swept sacrosanct customer money when the house of cards finally collapsed under the weight of its own math. The indefensible zeroes and ones were instantly swept from the computer servers and customers were locked-out of their accounts.

Interestingly, both were goaded on and enabled by the same people. Corzine was a crony of the Obama regime, which is operationally a Chicago-based phenomenon, as are the regulators of the futures industry, along with the CME group itself.

Cyprus was goaded, overseen, and then "harvested" by the International Monetary Fund, which is chaired by Christine Legarde, who is a Chicago player, and who actually was a partner at Baker & McKenzie before being placed at the IMF by the Obama regime and bankster oligarchy. Cyprus was Christine Legarde's play, and Legarde is in the Chicago oligarch circle.

This will happen here. It already has with MF Global, Cyprus is testing the national, retail banking level, and then it will happen here. They might go straight to bank holidays here, as Warren Pollock has been talking about for over 18 months now, or they may do a levy confiscation like this on retirement accounts.

If you have any money exposed to the financial system, you're just stupid. That's it. Bottom line.

[palani]

When you put criminals in charge don't expect an outcome that works for anyone except THEM.

[Neuro]

If you have any money exposed to the financial system, you're just stupid. That's it. Bottom line.
Quoted for truth!

[messianicdruid]

Another letter from Cyprus :A friend from Minneapolis has a son who is in Cyprus now. Here is an email that he wrote home, describing the chaotic situation there:

Hey fam!

Things are getting pretty crazy over here in Cyprus. I don't know if you guys have been watching the news or seen things online, but Cyprus is on the verge of economic collapse.

Over the past 5 years the Cyprus stock market has lost 98% of its value and the country has recently entered into a severe economic crisis, considered worse than Greece, Italy, Spain, Portugal etc.. As of last week the two largest banks in the country have completely shut down and froze all wire transfers out of the banks. Walking outside every day this week I have seen massive lines of people at the ATMs trying to withdrawal the maximum amounts. Today there was a man who was trying to get money out and when he realized it was out of cash he shook the machine violently and punched the display while cursing in Greek. If these banks go under (and this may happen) ALL money and all deposits will be lost, which will completely destroy the economy and way of living here.

Last week the European Central Bank offered a multi-billion Euro bailout package to Cyprus in exchange for a massive tax on all civilian bank accounts in the country. If this goes through (and I hope to God it does NOT) It will also devastate the economy and cause a giant run on the bank. Cyprus has also looked to Russia for help because Russians hold tens of billions of euros of investments in Cyprus (and the majority of bank deposits), however, Russia declined.

As it stands now, nowhere in Cyprus accepts credit or debit cards anymore for fear of not being paid, it is CASH ONLY. Businesses have stopped functioning because they cannot pay employees OR pay for the stock they receive because the banks are closed. If the banks remain closed, the economy will be destroyed and STOP COMPLETELY. Looting, robberies and theft are already on the rise. If the banks open now, there will be a massive run on the bank, and the banks will FAIL loosing all of its deposits, also causing an economic crash. TONIGHT there are demonstrations at most street corners and especially at the parliament building (just 2 miles from me).

Many are thinking that the ECB and EU are allowing Cyprus to fail as a test ground for new financial standards.

Just wanted all you guys to know the real story of whats going on here. Prayers are appreciated (although this is very interesting to watch) many of my local friends have lots of money in the banks.

http://gods-kingdom-ministries.net/daily-weblogs/2013/03-2013/another-letter-cyprus/

[Twisted Titan]

however, Russia declined.*As it stands now, nowhere in Cyprus accepts credit or debit cards anymore for fear of not being paid, it is CASH ONLY. Businesses have stopped functioning because they cannot pay employees OR pay for the stock they receive because the banks are closed. If the banks remain closed, the economy will be destroyed and STOP COMPLETELY. Looting, robberies and theft are already on the rise. If the banks open now, there will be a massive run on the bank, and the banks will FAIL loosing all of its deposits, also causing an economic crash. TONIGHT there are demonstrations at most street corners and especially at the parliament building (just 2 miles from me).*




The Crack Up Boom playing out in real time

Absolutely amazing.

[Horn]

Gold slumped $5 on the News.

[Large Sarge]

warren Pollock on banking crisis (from last summer), "European bank holidays are coming"


http://www.youtube.com/watch?v=_w8IO5jIfoA

[messianicdruid]

another POV:

"Oil and gas, that’s all it’s ever been about …

There was a lot going on this week, but it’s all being overshadowed by the fascinating geopolitical game over Cyprus. This is a stage on which a country’s pending financial collapse hinges explicitly on its hydrocarbons potential, and whoever turns up with aid will win access to exploration blocks.

Yesterday morning, Oilprice.com’s Jen Alic took us through the nuances of this game, noting that Russia could bail out Cyprus in return for a nice chuck of exploration acreage offshore. By the close of the day, that is exactly how things appeared to be unfolding. Later in the day, it began to emerge that Gazprom had reportedly offered Cyprus a bailout deal in return for offshore exploration rights. But by Friday, Russian and Greek Cypriot officials had said no deal had been reached. The deal Cyprus put on the table was the creation of a Cypriot state company with control of gas reserves into which Russian companies could invest, along with a nice stake in Cypriot banks to be rescued by the Russian investment fund. It’s not enough for Moscow, which is holding out for more—and likely to get it if the EU refuses to budge.

This all came after the EU tried to get Cyprus to agree to partially fund an EU bailout package by putting a levy on bank deposits and offering account-holders compensation in the form of potential gas futures. This is where the EU was caught playing dirty—and it’s all about Russia. Russian oligarchs use Cyprus for their offshore banking needs, and as such hold a lot of the bigger accounts that would have been targeted under this scheme.

The EU would never have done this in the past because Russia would have just turned off the gas spigots that control European supplies. What’s behind the new bravado? Quite simply, 122 trillion cubic feet of Mediterranean gas in the Levant Basin, discovered by Israel (in a US-Israeli partnership), and in Lebanon, Syria and Cyprus. If all goes well, the estimated 425 billion cubic meters (16 trillion cubic feet) of gas found in Israel’s Leviathan field will eventually be pumped via undersea pipeline directly to Turkey and then on to Europe. Another Israeli gasfield, Tamar, has 250 billion cubic meters (9 trillion cubic feet) and production should begin in April. This is Europe’s answer to the Russian gas stranglehold. It’s no longer afraid of Russia turning the spigot off.

However, it gets tricky when Cyprus isn’t playing along. The Greek Cypriots rejected the EU bailout scheme and headed straight for Moscow, knowing full well the power of negotiation behind the island’s estimated 60 trillion cubic feet of gas.

Moscow played hard to get for a few days, but it wants Cyprus because if Europe gets ahold of the island’s gas then Russia will certainly lose its hegemony over the European market. And it’s not ready quite yet. Its diversification plans to Asian markets has not been solidified.
This is a race to the finish line to develop Mediterranean gas. When all is said and done, this Mediterranean gas could provide 40% of Europe’s total gas needs.

Europe took a gamble here with Cyprus through bailout politics. Russia’s energy strategy is far more decisive. Not only will Russia now get a nice chuck of Cyprus’ offshore exploration acreage—it also saves its oligarchs from a probably 10% loss in their Cyprus bank accounts courtesy of the now-rejected EU bank deposit levy scheme.

Cyprus has known from the beginning that its bailout is tied to its potential petrol dollars, while the EU has attempted to couch this in all manner of moral-high-ground rhetoric.

What will the EU do now? Will it bail Cyprus out on kinder terms to keep Russia from getting hold of the island’s gas? Monday is D-Day: This is the deadline the European Central Bank has set for Cyprus to come up with $6 billion in order to “qualify” for a bailout package.

Cyprus is playing Russia and the EU offer each other right now, hoping to bring the specter of a deal with Russia close enough to make Brussels blink and give Cyprus more negotiating power.

Watch the deals in progress with this in mind: Not only is Cyprus’ financial collapse at stake here. Also at stake is Russia’s monopoly on the European gas market and the Europe’s entire gas future."

http://oilprice.com/Energy/Energy-General/EU-Caught-Playing-Dirty-and-its-all-about-Russian-Gas.html

[gunDriller]

Ann's primary visible strength is financial stuff.


did i miss something ? like concrete details ?

http://barnhardt.biz/

she's like a right-wing version of some acid-tripping flower-child.

[Horn]

Interestingly, both were goaded on and enabled by the same people. Corzine was a crony of the Obama regime, which is operationally a Chicago-based phenomenon,

I kid you not, the new sidewalks in front of the U.S. Embassy here in C.R. are being "commissioned painted" with what are reflective Che' Obama stencils.

Gotta get a picture for you guys to paste here.

http://www.posterpage.ch/exhib/ex216oba/p181502s.png

[gunDriller]

I kid you not, the new sidewalks in front of the U.S. Embassy here in C.R. are being "commissioned painted" with what are reflective Che' Obama stencils.

Gotta get a picture for you guys to paste here.

http://www.posterpage.ch/exhib/ex216oba/p181502s.png

never has sidewalk art deserved so much to be defaced.

just drop a few pounds of sunflower seeds on it. the pigeons will do the rest.

i wonder how much the State Department paid for this little project.

[Horn]

never has sidewalk art deserved so much to be defaced.

just drop a few pounds of sunflower seeds on it. the pigeons will do the rest.

i wonder how much the State Department paid for this little project.

Actually its been quite a dead place since 2008 and Wiki-Gate, maybe the reasoning for the chosen stencils