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General Discussion => The New Joe Montgomery Birther Pit => Topic started by: 0.42 on March 18, 2013, 08:55:01 PM
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:users:
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yeah, not a good plan. IMF are a bunch of idiots, also the Eurozone, also Merkel.
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I like that Russia is all up in arms because a bunch of their business folks have all their :kstategrad: in Cyprus banks due to a 10% corporate tax.
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IF THEY CAN DO IT IN CYPRUS THEY CAN DO IT IN AMERICA, OBAMA IS GOING TO TAKE OUR MONEY AND 401K'S TO PAY THE CHINAMEN.
But seriously, WTF are they thinking. The most important aspect of a bank is their customers trust.
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So it looks like island nations are tax havens for banks, and as a result have some ridiculous statistics:
Anyway, the Cyprus story has obvious parallels with both Iceland and Ireland, with RMML — Russian mobster money laundering — as an extra ingredient. All three island nations had a run of rapid growth as banking havens that left them with banking systems that were too big to save. Iceland, at peak, had banks with assets that were 980 percent of GDP, more than 10 times the US number; Ireland was at 440 percent. Cyprus, at around 800 percent, was closer to Iceland in this respect.
http://krugman.blogs.nytimes.com/
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Ya but look at what Iceland did during the bust. They socialized the banks and defaulted on debts owed to foreign parties. Doing well now. :dunno:
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Ya but look at what Iceland did during the bust. They socialized the banks and defaulted on debts owed to foreign parties. Doing well now. :dunno:
They're doing better than Ireland, who requested a bailout from the EU :dunno:
EDIT: here's a brief summary of the situation - http://www.piie.com/blogs/realtime/?p=3352
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IF THEY CAN DO IT IN CYPRUS THEY CAN DO IT IN AMERICA, OBAMA IS GOING TO TAKE OUR MONEY AND 401K'S TO PAY THE CHINAMEN.
But seriously, WTF are they thinking. The most important aspect of a bank is their customers trust.
it absolutely can happen here.
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IF THEY CAN DO IT IN CYPRUS THEY CAN DO IT IN AMERICA, OBAMA IS GOING TO TAKE OUR MONEY AND 401K'S TO PAY THE CHINAMEN.
But seriously, WTF are they thinking. The most important aspect of a bank is their customers trust.
it absolutely can happen here.
The same time they take all our hunting rifles
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IF THEY CAN DO IT IN CYPRUS THEY CAN DO IT IN AMERICA, OBAMA IS GOING TO TAKE OUR MONEY AND 401K'S TO PAY THE CHINAMEN.
But seriously, WTF are they thinking. The most important aspect of a bank is their customers trust.
it absolutely can happen here.
The same time they take all our hunting rifles
We will let it happen too like the retards that we are.
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(https://goemaw.com/forum/proxy.php?request=http%3A%2F%2Fwww.1000recordings.com%2Fimages%2Fartist-c%2Fcypress-hill-226-l.jpg&hash=719bb1c3ff89729f6e52551bf53e7671b021a04b)
only cypress i care about.
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Hey look we're the eurozone. All of our social welfare States printed a bunch of money by floating bonds and trading them among each another. No big deal, we all forfeited our sovereignty to a phony government in exchange for a shared currency all but one of us have zero vested interest in preserving the value of. Which is perfect because as social welfare states we live under the premise the strong can always provide more and when they cant who gives a eff as long we're all equally poor. So LOL at you Germany, you can form a phony bank to float phony bonds to "bail us out" and we'll take that bailout money and try really hard to get our crap together, and by really hard I mean elect a radical socialist government hellbent on fiscal anarchy and sticking it to "the man". Then when we don't pay back the money we borrowed to pay back the money we previously borrowed from you, we can all get together and blame the banks in the US that already roasted for doing the same thing with their actual customers.
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Hey look we're the eurozone. All of our social welfare States printed a bunch of money by floating bonds and trading them among each another. No big deal, we all forfeited our sovereignty to a phony government in exchange for a shared currency all but one of us have zero vested interest in preserving the value of. Which is perfect because as social welfare states we live under the premise the strong can always provide more and when they cant who gives a eff as long we're all equally poor. So LOL at you Germany, you can form a phony bank to float phony bonds to "bail us out" and we'll take that bailout money and try really hard to get our crap together, and by really hard I mean elect a radical socialist government hellbent on fiscal anarchy and sticking it to "the man". Then when we don't pay back the money we borrowed to pay back the money we previously borrowed from you, we can all get together and blame the banks in the US that already roasted for doing the same thing with their actual customers.
Blame the Russians too as Paul "We Need a Housing Bubble" Krugman pointed out above
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Krugman isn't even trying anymore, and he wasn't very bright when he was trying. He's reduced himself to Olberman status.
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Hey look we're the eurozone. All of our social welfare States printed a bunch of money by floating bonds and trading them among each another. No big deal, we all forfeited our sovereignty to a phony government in exchange for a shared currency all but one of us have zero vested interest in preserving the value of. Which is perfect because as social welfare states we live under the premise the strong can always provide more and when they cant who gives a eff as long we're all equally poor. So LOL at you Germany, you can form a phony bank to float phony bonds to "bail us out" and we'll take that bailout money and try really hard to get our crap together, and by really hard I mean elect a radical socialist government hellbent on fiscal anarchy and sticking it to "the man". Then when we don't pay back the money we borrowed to pay back the money we previously borrowed from you, we can all get together and blame the banks in the US that already roasted for doing the same thing with their actual customers.
I'm not sure you know what that word means
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Hey look we're the eurozone. All of our social welfare States printed a bunch of money by floating bonds and trading them among each another. No big deal, we all forfeited our sovereignty to a phony government in exchange for a shared currency all but one of us have zero vested interest in preserving the value of. Which is perfect because as social welfare states we live under the premise the strong can always provide more and when they cant who gives a eff as long we're all equally poor. So LOL at you Germany, you can form a phony bank to float phony bonds to "bail us out" and we'll take that bailout money and try really hard to get our crap together, and by really hard I mean elect a radical socialist government hellbent on fiscal anarchy and sticking it to "the man". Then when we don't pay back the money we borrowed to pay back the money we previously borrowed from you, we can all get together and blame the banks in the US that already roasted for doing the same thing with their actual customers.
I'm not sure you know what that word means
Just because a word becomes a pejorative doesn't mean its definition changes, dumbstick.
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Now Cyprus wants Russia to bail them out instead of the EU. Russia just straight up mushed them :sdeek:
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Ya but look at what Iceland did during the bust. They socialized the banks and defaulted on debts owed to foreign parties. Doing well now. :dunno:
They're doing better than Ireland, who requested a bailout from the EU :dunno:
EDIT: here's a brief summary of the situation - http://www.piie.com/blogs/realtime/?p=3352
There can't be any long term consequences with this, can there?
I feel like we need another GDP chart to show the grim results of austerity.