Cyprus to close banks again, Begging Russia for help

[erudne]

Breaking News! Cyprus New Phase In the Global Financial Crisis - YouTube

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[cookie]

Not a good thing. Repercussions? Russia helping out fellow socialists??

 

[AMProducts]

Cypress is a basket case, but also the european equivalent of the grand caymans, it's an offshore banking mecca. Most of the problems they've had over there have been a result of currency controls coming from russia and europe, that prevented that money from flowing in.

 

[ATCclears]

My concern is the "monkey see, monkey do" factor. The IMF is already hinting at "financial haircuts".

Peter

 

[EZLivin]

That "breaking news" video was from events that occurred back in March 2013.

But as someone I have a huge regard for said recently: "When you hear talk of paying the banks to have dollars on deposit, remember you are not the holder of an asset, dollars in the bank, but rather a unsecured lender to the bank paying the banksters for the privilege of being at risk to the dollar, and at risk to the bank itself. That is simply insane."