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  • #772,341
  • Mar 16, 2013 2:39pm Mar 16, 2013 2:39pm
Quoting Kanzler
The issue I have isn't with Cypriots paying for Cyprus' bailout, the issue I have is that this is a direct violation of the trust people have in the bank. Who says this can't happen in another country? And if they think this won't have major repercussions in terms of clients removing their funds from Cyprus they have another thing coming. Stupid move.
Scared of this happening in another country?
Like here in the US?

We have laws to protect us.

Too many laws. That's for sure.

You can't even sleep on a bus bench or on the street side or under a bridge because it's against the law, so where do you sleep if you are homeless?
Where do you pee when you're a mile away from the nearest public toilet and your prostate is acting up?

Yes too many laws.
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  • #772,342
  • Mar 16, 2013 2:41pm Mar 16, 2013 2:41pm
Quoting math_GB
OK...! I will either become the next " Murphy" of the thread or become another legend of this thread.

We will see 1.45 before we see 1.17 for EURUSD. This is valid untill Monday 30th September 2013...
That's easy to say because we won't get any of your quotes probably this year.
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  • #772,343
  • Mar 16, 2013 2:42pm Mar 16, 2013 2:42pm
Quoting KillerWhale
Scared of this happening in another country?
Like here in the US?

We have laws to protect us.

Too many laws. That's for sure.

You can't even sleep on a bus bench or on the street side or under a bridge because it's against the law, so where do you sleep if you are homeless?
Where do you pee when you're a mile away from the nearest public toilet and your prostate is acting up?

Yes too many laws.
They have laws in Cyprus too, and this confiscation wasn't supposed to take effect until Tuesday. Yet, banks are locking accounts and removing funds immediately. Doesn't sound like the rule of law to me. As far as the US government following the laws they write....plenty of examples of them doing what is convenient for them. Certain people are very much above the law in this country.
  • #772,344
  • Mar 16, 2013 2:44pm Mar 16, 2013 2:44pm
Quoting math_GB
OK...! I will either become the next " Murphy" of the thread or become another legend of this thread.
I'm glad to see you are ambitious, because that's the first thing you need to play this forex game.
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  • #772,345
  • Mar 16, 2013 2:45pm Mar 16, 2013 2:45pm
Quoting Kanzler
They have laws in Cyprus too, and this confiscation wasn't supposed to take effect until Tuesday. Yet, banks are locking accounts and removing funds immediately. Doesn't sound like the rule of law to me. As far as the US government following the laws they write....plenty of examples of them doing what is convenient for them. Certain people are very much above the law in this country.
I know and I agree, but what can you do?
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  • #772,346
  • Mar 16, 2013 2:46pm Mar 16, 2013 2:46pm
In my opinion, people dont realize how 'historic' was this act.

They simply said..

Well

WE will take 10 % of YOUR Bank account and that is it.
We made a new law. Deal with it.

Remembers me at 193is..

If you was a Jew you had nothing from one day to another. By law..
How to opt out annoying user signatures ??
  • #772,347
  • Mar 16, 2013 2:48pm Mar 16, 2013 2:48pm
Quoting KillerWhale
I know and I agree, but what can you do?
You think Spanish and Italian depositors will be thinking like that?
  • #772,348
  • Mar 16, 2013 2:50pm Mar 16, 2013 2:50pm
Quoting KillerWhale
That's easy to say because we won't get any of your quotes probably this year.

That was the main objective of the bet...
  • #772,349
  • Edited 3:18pm Mar 16, 2013 2:58pm | Edited 3:18pm
Quoting Kanzler
They have laws in Cyprus too, and this confiscation wasn't supposed to take effect until Tuesday. Yet, banks are locking accounts and removing funds immediately. Doesn't sound like the rule of law to me. As far as the US government following the laws they write....plenty of examples of them doing what is convenient for them. Certain people are very much above the law in this country.
About convenient ..................

I've had 3 hospital stays in the last 18 months, 1 for an accident, and 2 for both hip replacements.
As you probably know you will get billed from 30 different sources for stuff that the insurance doesn't cover.
I missed 1 of those payments and YES it was send to a collection agency and then it appeared on my credit report.
I paid it but that didn't help very much.
Next thing was 2 of my credit card companies lowered my spending limit.

Fortunately I have a few more credit cards.


The bad boys?

American Express (I've been a client for 10 years and never missed a payment)
Discover Card. Never missed a payment either.
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  • #772,350
  • Mar 16, 2013 3:00pm Mar 16, 2013 3:00pm
Quoting neil324
You think Spanish and Italian depositors will be thinking like that?
They took a risk putting their money in another country.
They had a reason to put their money there, and now they pay the price,

It's as easy as that!!!
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  • #772,351
  • Mar 16, 2013 3:16pm Mar 16, 2013 3:16pm
Quoting KillerWhale
They took a risk putting their money in another country.
They had a reason to put their money there, and now they pay the price,

It's as easy as that!!!
Does this also apply to Italian, Spanish, Greece, Portugal, and other government debt? People have been buying this saying its guaranteed by the ECB but if the guarantee is suspect and involves a hidden caveat that is only divulged at the time of bailout then what will the effect be on those bond holders...

My guess is this development is going to put the fear into the markets...
  • #772,352
  • Mar 16, 2013 3:18pm Mar 16, 2013 3:18pm
Quoting KillerWhale
About convenient ..................

I've had 3 hospital stays in the last 18 months, 1 for an accident, and 2 for both hip replacements.
As you probably know you will get billed from 30 different sources for stuff that the insurance doesn't cover.
I missed 1 of those payments and YES it was send to a collection agency and then it appeared on my credit report.
I paid it but that didn't help very much.
Next thing was 2 of my credit card companies lowered my spending limit.

Fortunately I have a few more credit cards.


The bad boys?

American Express...
Yes but this is a little different being we're talking about the government doing it, not a private business. Actually I'd read in one article that the Cypriot legislature would likely not back the measure - what then? Government steals money from private accounts while not being legally entitled to do so? Seems to me that the EU has more authority here than the sovereign nation does. Personally I can't wait for this monster to fall apart.
  • #772,353
  • Mar 16, 2013 3:25pm Mar 16, 2013 3:25pm
Quoting godrich
going to put in a short here based off of 1 mmin chart candles
* wanted to quote this post as it was a bad call and i think the right thing to do is to own it when you make a sh*t call.

* mgb i love the call on the euro. give us a little more detail, how do you see this move playing out ? gradually up, down then up,etc.

* finally what the heck is going to happen on market open/rest of next week with this cyprus deal ?
  • #772,354
  • Mar 16, 2013 3:25pm Mar 16, 2013 3:25pm
Quoting KillerWhale
They took a risk putting their money in another country.
They had a reason to put their money there, and now they pay the price,

It's as easy as that!!!

I meant what will Spanish and Italian depositors with money deposited in Spain and Italy be doing after reading this. With their countries heading for a bailout.
  • #772,355
  • Mar 16, 2013 3:32pm Mar 16, 2013 3:32pm
Quoting math_GB
OK...! I will either become the next " Murphy" of the thread or become another legend of this thread.

We will see 1.45 before we see 1.17 for EURUSD. This is valid untill Monday 30th September 2013...
did you remember to use long term linear regression analysis?
  • #772,356
  • Mar 16, 2013 3:34pm Mar 16, 2013 3:34pm
Quoting gustavhunter
Does this also apply to Italian, Spanish, Greece, Portugal, and other government debt? People have been buying this saying its guaranteed by the ECB but if the guarantee is suspect and involves a hidden caveat that is only divulged at the time of bailout then what will the effect be on those bond holders...

My guess is this development is going to put the fear into the markets...
Only Cyprus at the moment. The levy on bank deposits raises 5 billion with the rest coming from the ECB. NO bond holder of Cyprus debt is taking a haircut in this deal.
  • #772,357
  • Mar 16, 2013 3:38pm Mar 16, 2013 3:38pm
Quoting Kanzler
Yes but this is a little different being we're talking about the government doing it, not a private business. Actually I'd read in one article that the Cypriot legislature would likely not back the measure - what then? Government steals money from private accounts while not being legally entitled to do so? Seems to me that the EU has more authority here than the sovereign nation does. Personally I can't wait for this monster to fall apart.
The funny part is my dear Kanzler,

I am not buying Euros, nor am I selling them. I buy and sell on paper (or better: computer screen)
And the whole thing is about the moves it makes. The "sell high, buy low" strategy.

I do have a savings account in Panama though.
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  • #772,358
  • Mar 16, 2013 3:39pm Mar 16, 2013 3:39pm
Quoting KillerWhale

I do have a savings account in Panama though.
It is actually another country but I want to throw the IRS a little bit around.
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  • #772,359
  • Mar 16, 2013 3:44pm Mar 16, 2013 3:44pm
Quoting neil324
I meant what will Spanish and Italian depositors with money deposited in Spain and Italy be doing after reading this. With their countries heading for a bailout.
Take it for what it is.

If your country is in debt then accept the financial stuff that comes with it.
You are in power, you voted your Government into that power.
So accept it and pay for it or move to another country.

But that other country won't be easy to find.
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  • #772,360
  • Mar 16, 2013 3:49pm Mar 16, 2013 3:49pm
Quoting KillerWhale

I am not buying Euros, nor am I selling them.
What's up with this, then

Quoting KillerWhale
This week cannot go wrong anymore, I'm already @ +3 pips.
Just when E/ "jetted" to the upside ???
When the Joker is in the deck.. fear not and play it well
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