Silk Road forums
Discussion => Off topic => Topic started by: goblin on March 18, 2013, 07:29 pm
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To the Europeans out there: what opinions, rants, etc. do you all have on this latest bailout in the long-dragging Euro crisis?
If the Cypriot parliament passes this law today or tomorrow, it will be one more nail in the coffin of the ordinary people's ability to have confidence and trust in the general economic system.
It is astounding to me how a government can pass a law that essentially steals money from savers (6.75% of under 100,000 euro balances, 9.9% of over 100,000 euro ones) to make up the difference for the amount they say they needed for a banking bailout there. If I were an account holder I'd want to murder somebody, almost.
And to top it off they throw out these ridiculous warnings about how the whole system would be destroyed if this doesn't pass. They have absolutely no shame.
And one more thing: I think people from the small Euro countries have just about had enough with gangsta Merkel, aka Mistress of Austerity. I don't know how much longer before people start driving themselves to the looney bin. It seems even the German people are up to here with her.
What do you all think?
goblin
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well they should never have allowed a load of countries with completely different economies to join a single currency in the first place. they opted in for it and now they're paying the price. every country in the eu is making sacrifices including those like britain not stupid enough to join the eurozone.
i personally think taking money from people rich enough to have savings is a better way to get started than in the uk where our conservative led coalition is sheltering the richest and instead making cuts that significantly affect the those worst off in society. recent cuts to benefits targeting people with terminal illnesses, disabilities and serious mental health problems are seriously fucked up and people have already killed themselves as a result of the stress this is causing. they're also trying to turn the lower working classes against the unemployed to create tension and resentment.
i know we're supposed to hate the germans but they're pretty on the ball. angela merkel is fine in my books, she's steering a sinking ship as chancellor of one of the only countries in europe whose economy is not severely fucked. germany especially but also the rest of us are paying significant amounts to bail out countries like greece and italy where people have not been paying the taxes they should. cyprus has acted as a tax shelter for the rich and allowed citizenship to billionaires to lure them in. if they want to enforce austerity measures as a term for bailing them out with billions of euros then they should. at least they're not being a little bitch about it like greece, trying to act like they wouldn't accept a bailout with terms. what are the other options? china aren't going to swoop in to the rescue. people need to take a step back and look at the big picture. we're fucked.
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They should copy Iceland, go bankrupt and let the banks fail, then jail the banksters and start again :)
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Hardly surprising, ideologically I hate the EU, I think it's rotten to the core, but pragmatically I'm trying to constantly take advantage of the system and exploit it
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The problem is the lack of proper centralization. The countries should merge proper!
There should be an even basic income for every Eu citizen. Everyone should get the same amount of money no matter what you do.
From the McDonalds worker to the Politician everyone should earn the same. No exceptions.
no more rich people. and no more poor people. Only one class. The middle.
Extreme money hoarding behavior should not be tolerated. Money is like blood. Its the blood of the collective we form together.
Like the cells of the body. We are one!
A lack of money or the excess of money will always lead to damage.
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well they should never have allowed a load of countries with completely different economies to join a single currency in the first place. they opted in for it and now they're paying the price. every country in the eu is making sacrifices including those like britain not stupid enough to join the eurozone.
i personally think taking money from people rich enough to have savings is a better way to get started than in the uk where our conservative led coalition is sheltering the richest and instead making cuts that significantly affect the those worst off in society. recent cuts to benefits targeting people with terminal illnesses, disabilities and serious mental health problems are seriously fucked up and people have already killed themselves as a result of the stress this is causing. they're also trying to turn the lower working classes against the unemployed to create tension and resentment.
i know we're supposed to hate the germans but they're pretty on the ball. angela merkel is fine in my books, she's steering a sinking ship as chancellor of one of the only countries in europe whose economy is not severely fucked. germany especially but also the rest of us are paying significant amounts to bail out countries like greece and italy where people have not been paying the taxes they should. cyprus has acted as a tax shelter for the rich and allowed citizenship to billionaires to lure them in. if they want to enforce austerity measures as a term for bailing them out with billions of euros then they should. at least they're not being a little bitch about it like greece, trying to act like they wouldn't accept a bailout with terms. what are the other options? china aren't going to swoop in to the rescue. people need to take a step back and look at the big picture. we're fucked.
Yeah, I get what you're saying, Cyprus is a tax haven of sorts, and a lot of rich people have money deposited in its banks. OK. But, a lot of those around 100,000 euro (and some even higher) can no doubt be counted as belonging to retirees, people who worked hard all their lives and now have all their life savings in a (they thought) secure place. And to have, if it passes, a 10% or almost 7% chunk basically stolen from them is extremely unfair, and just inexcusable. As someone pointed out, all these deposits were supposed to be insured against loss up to 100,000 euros. Now this negates that and sets up a horrifying precedent!
If they can do it in Cyprus, what's to prevent them from doing it anywhere else in the EU? Going farther, what's to prevent other quasi-fascist governments (hear that, USA?) from doing it in their territories? This is the classic slippery slope. Trust in the banking system (such as it is) is the only thing that holds it together. If that goes, then ALL bets are off. I wouldn't have my money in the bank if there was even a smidgeon of a chance that that could happen to it.
I see the future, and it's called bank runs, fellas.
goblin
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I guess all the more reason to invest it all in BTC ;D
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I guess all the more reason to invest it all in BTC ;D
I changed my outlook from some time back, I now see that an equal investment in bitcoin, gold and silver would be the wisest choice. I had relegated bitcoin to a nothing status before.
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Looks like the Cyprus parliament grew some balls and rejected the whole deal. Let's see what happens now.
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did they not close the banks in anticipation of a run in cyprus? i'm pretty indifferent about the whole situation over there and the law not passing.
i remember when northern rock kick started the high st bank fuckery here and there were queues of idiots waiting to empty their accounts :D the people who lost out in that one were the shareholders as the bank was then nationalised making shares worthless but savings up to a certain amount were protected by govt and they even increased the amount that would be safe. gordon brown was in charge then though if i remember correctly.
loads of people have lost loads of money because they had shares in companies that have gone into administration and then sold for parts, people need to be smart about where they invest and spread the risk and then take responsibility for their choices.
using banks or any third party to hold your money is risky and people need to understand that. we've got a generation of people who thought that investing in property was the way to go as the value would constantly rise, then they start bitching about negative equity when they can't afford to pay their mortgage and have to sell at a loss. i find it hard to sympathise with people who have blind trust and make bad decisions just because they follow like sheep and can't think for themselves.
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Just a little thought about this...
the BTC-value was stabilising for about one week when this news got public...
then, within a few hours the BTC-value started raising again,
and since it hasn't stop going up, up, up...
would some people from over there start investing lots of $ in BTC's?
just an idea...