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  • Could The "Cyprus Fiasco" Occur In The United States?

    From zerohedge.com

    As has been assiduously explained by members of the European statist oligarchy, the reason for the deposit tax levy, in addition to the broader unsecured debt "bail-in" bailout of Cyprus, was due to the unique funding structure of Cypriot banks, in which the bulk of funding was in the form of deposits (whether Russian or domestic), leaving a tiny €2 billion in the form of junior bonds. Since the bailout would require realigning the balance sheet to a new, sustainable "fresh start" in which assets were remarked to a realistic value, it would mean impairing liabilities all the way down the capital structure. ... (full story)

Governments get real desperate when they are facing collapse. $16+ trillion and politicians refuse there is a debt issue (whether it's Obama or Boenher) show a lack of concern. When it's $22 trillion in debt and no one is willing to buy their garbage debt, it just might happen.
When the facts change I change my mind, what do you do sir
Politicians are greedy bastards and the same the world over, and they never pass up a chance to stick it to the people to fix their mistakes.
Hej.
Sorry, I didn't intend to demean bastards.
Hej.
Quoting Stitch961
Sorry, I didn't intend to demean bastards.
Sure you did. But your righteous description is applied to the wrong folks. It is the super-rich that pull the strings of the puppet politicians. It is the super-rich that caused the global financial collapse. It is the super-rich that manipulate to secure tax breaks, loopholes and havens, while scheming to assure everyone else but themselves ends up footing the bills.

Geez, an X-CEO of GS was Secretary of the Treasury when the shit hit the fan on Wall Street! Who do you think spearheaded the bailout for Wall Street!

These folks have their foot in every financial door that is worthy of their glorious presence. Nothing happens they don't know about, and prepared the blueprints for!
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  • Posted: Mar 17, 2013 10:36pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 4  /  Views: 2,516