Surely now the time has come to stop these maniacsIf you’ve just been to Zero Hedge, you’ll know this already, but we are witnessing a full-on time warp in relation to the real nature of the Cypriot bank ‘deal’. On the verge of writing a piece called ‘This year’s solution is a cert for next year’s problem’, I was alerted to a new Tyler Durden piece at ZH.
This is the gist: you will recall I broke the news from banking sources last week about how enormous the leakage of big money had been from Cyprus banks in the two days before B-am-B’s Nazis railroaded the Cypriots into a room and said “Give us the money or your banking system gets it”. You will recall also that I said I was 100% certain that the Eunatics would stifle any news about the cash exodus until the deal was over. You will probably also remember that I reported on yet more money leaving by Cyprus bank branches abroad, because the the EC is too dumbf**k uncommercial to grasp that this was going to happen.
Well, now we know the full cost of leaking and incompetence to the real people of Cyprus: Then this morning the 20%-40% seizure of the depositor’s money, which was the range that had been discussed, was revealed by the Finance Minister Michael Sarris in Cyprus to be more like an 80% expropriation and a timeline to get any money back of six to eight years. For which read, “100% and never”.
Today the Sudentenland, tomorrow Czechoslovakia.
But it gets worse. The representatives of the Eurozone finance ministries released a document this morning stating that Cyprus was not the template for future bail-outs. The Cyprus smash-and-grab was led and driven by Djisselbloem and Amunssen – Dutch and German respectively. When asked about this eurozone finance ministers’ denial doccy, Dazzlebomb said he knew nothing about it. So although Jeroen Divertblame is the Chairman of the FinMins Group, he told reporters it was nothing to do with him, and he hadn’t a clue what they were on about.
Angela Merkel has invested quite a lot of time trying to convince the German in the Strasse over the last two days that their money in German banks is safe. Today a poll, conducted by the Forsa Institute for Stern Magazine and RTL television, revealed 54% of Germans do not trust Merkel’s recent assurances that their savings are safe. Only 41% dobelieve their deposits are safe. The SPD may be about to pull off the political comeback of all time. The Germans may have managed not to lose face – but they are losing their faith.
Still, the EC Panzers will, I’m sure, lumber on. Today Czechoslovakia, tomorrow Poland.
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