18 Jun 2013

The Cyprus Bail-In Blows Up: President Urges Complete Bailout Overhaul (Full Letter) + 'Rape of the Depositors' by WB7

Tyler Durden's picture Cyprus' President Nicos Anastasiades has realized (as we warned), too late it seems for the thousands of domestic and foreign depositors who were sacrificed at the alter of monetary union, that the TROIKA's terms are "too onerous." Anastasiades has asked EU lenders to unwind the complex restructuring and partial merger of its two largest banks leaving EU officials "puzzled", according to a letter the FT has uncovered, as "essentially, he is asking for a complete reversal of the program." The EU officials claim that the failure to prepare for the bailout’s impact was partially the fault of Mr Anastasiades’ government, which voted down a first agreed rescue before succumbing to a similar deal nine days later.
The FT goes on to note that although the letter does not request it explicitly, Mr Anastasiades is in effect asking for further eurozone loans on top of the existing EUR10bn sovereign bailout – something specifically ruled out by a German-led group of countries at the time. The return of beggars-can-be-choosers we presume - or just token gestures to recover some populist support as the enemy of my enemy is my friend.
As we noted here (and on the chart below), it seemed pretty obvious where this was going to end - obvious that is to everyone except Europe's victory-claiming politicians.

GREECE: The ERT shutdown was a distraction for more bankster theft of public funds!


Troika raids on social security budgets and private pensions

Devious, moi?
The Slog: In one mighty bound over the last week, Greek Prime Minister Antonis Samaras has managed to do what no other politician has since the Greek crisis began: unite the Opposition and divide the Government at one and the same time. But Samaras is supposed to be a wily coyote: so is he really that gauche? A valued contact there described Samaras to me as one of “a small group of self-styled shakers & movers who think they own Greece…not smart at all. Local bully boys. Incompetent and unsavvy to boot”. Yet I am left wondering whether anyone could be that naive, and become Prime Minister. Of course, I then think about David Cameron and remember that such is perfectly possible. But then in turn, other information pops out – and makes me ponder about it further.
Surprise, surprise…after the ‘crisis’ talks got going between the Coalition partners, government collapse (and the need for more elections) was avoided.


Life in Open Air Prison + "UK Students Cyprused!" - Stacy Herbert, Max Keiser and Luke Rudkowski + Aliens wish to discuss Chinese Great Debt Ball

Max Keiser and Stacy Herbert report from Belfast on location at the G8 and anti-G8 meetings. They juxtapose the protests in China where thousands wait in line to buy gold to protect against G8-style inflationary policies to the less effective protests in Belfast where placards are waved in 'free speech zones;'

Obama's New War in Syria 'Say F U America!'

cgreene34: Iran to deploy '4,000-strong force' to Syria as US military set to stay in Jordan

Putin warns Cameron against arming Syrian rebels as UK weighs options

Bill Clinton: Obama Risks Looking Like A 'Wuss,' 'A Total Fool' If He Doesn't Act On Syria http://www.huffingtonpost.com/2013/06...

Russia Will Never Give Up On Syria - RussianBear

Morris: Arms contracts will be fulfilled. And the US bravado in Jordan leaving F16s behind is just psychological warfare. Source

Michael Gove and the controlled demolition of our children' - BBC Sucks O Cocks News

The artist taxi driver

Oppose the 'Stop The Killing Of Fuzzy Puppies' Act! + US Conservative Case for Drug Legalization

Token Libertarian Girl: There are many reasons to be opposed to the VAWA - domestic violence should not be an issue handed by the federal government. There is no real proof that it has prevented domestic violence and it promotes ugly stereotypes about men and women. Radical feminists portray men as violent predators and women as helpless victims - shame on them. About 40 percent of victims of domestic violence are men.

Callers Sound Off on The Crashing Global Economy + Esoteric Societies Rule The World

AJ: Alex welcomes television broadcaster and economic analyst Max Keiser to break down the fallout from Bilderberg 2013 coverage and the collapse of the current bankster regime, as well as the goal of G8 protests in Belfast.

Apartheid Israel regime uses banned weapons against Gazans to test for weapons marketing

Press TV: Reports by human rights organizations show that during the past years Israeli forces used drones, internationally banned weapons and other unknown substances during their attacks on the people of Gaza.

Ron Paul on Obama's Syria WMD Claim

"Nothing like a scare tactic in foreign policy to get away from Obama's domestic scandals."

Gold-Bashing Mythology Hits New Crescendo

By Jeff Nielson: In wading through the mainstream drivel written on the gold and silver markets; it becomes increasingly difficult to reply to such material without the word “desperation” creeping in again and again. Indeed, the quantity of gold-bashing itself is simply overwhelming.

In the years I have covered this market, I have never seen as many mainstream articles written about the (supposed) “bear market” today as were written during the 12 years in which the mainstream (grudgingly) acknowledged the bull market in precious metals.

This, of course, is entirely atypical behavior for a propaganda machine notorious for worshipping “winners” and shunning “losers”. When a particular company/sector falls from favor as a hot place for financial gambling, there is a brief frenzy of dancing-on-the-grave of the former darling – and then it is forgotten forever.

Not so with precious metals. Indeed, the more rabidly the mainstream propagandists insist that the precious metals sector has entered a “bear market”; the more obsessed they become in “covering” the sector. The lady doth protest too much, methinks.