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gov't to withdraw 10% from everyone's bank accounts

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Postby 2dimes on Mon Apr 01, 2013 9:41 am

patches70 wrote:I'm not sure what you are going on about. Why are you mixing my quotes with someone else's? See, this is my quote-

Such a group to be able to operate would require a complacent and ignorant populace. Would it not?


I was just asking a question of Lion, nothing more.

And what is this about?

2dimes wrote:So a person who acts like they know what's going on shows up. Instead of explaining things properly to the rest of us or doing something in real life, they rant online that everyone who doesn't blindly agree with them is a sheep.



Your post makes no sense, what are you talking about and who are you talking to?

I just asked some questions is all. What's wrong with that? You are talking about rants and then go on to rant yourself. What's up with that?

Just askin' is all.

I seperated them, I was talking to anyone and no one in particular, intetionally using an example of someone seperate that thinks they know more than you, but removed the names because as I tried to explain, I did not want to implicate you, while I wanted to adress the concept you brought up and point out someone else who is not you, acted like they are not ignorant and complacent yet certainly in no way intended to help those of us he feels are.

If I wanted to either challenge or support something you wrote I would have left your name in the quotes. As I wrote.
I think you are fairly well informed about this, certainly as much as possible for a regular person.
I thought you would able to tell the difference between what you wrote and what was written by another member without names. You seem intelligent, I don't think the other poster does.

I apologise if you can't follow the structure because of the way I wrote it.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby patches70 on Mon Apr 01, 2013 9:54 am

Ok then, it just seemed to come out of left field is all. Continuity problems, I remember some of that nutty post, but I don't remember what thread or exactly when that was or who it was. Or even what the poster was ranting about.

Your post seemed a non sequitur and just made me scratch my head is all. Carry on.
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Postby 2dimes on Mon Apr 01, 2013 12:46 pm

Yeah, I basically lack continuity in real life more so online. Sowwy.
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Re:

Postby BigBallinStalin on Mon Apr 01, 2013 4:38 pm

2dimes wrote:Yeah, I basically lack continuity in real life more so online. Sowwy.


Would you like us to make you more continuous?
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Postby 2dimes on Mon Apr 01, 2013 4:43 pm

No, I want an airplane, some certain Chevrolets, an acerage with an airstrip and a really well equipped shop.
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Re:

Postby BigBallinStalin on Mon Apr 01, 2013 4:53 pm

2dimes wrote:No, I want an airplane, some certain Chevrolets, an acerage with an airstrip and a really well equipped shop.


That's easy. Just start a junk collection in the front yard. You'll have everything you don't need in a nice, easily accessible area--right in front of your home.

No more complaints!
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Postby 2dimes on Mon Apr 01, 2013 4:58 pm

I have a reasonable collection of ~ahem~ treasures thank you. I'm missing a 1955 210 sedan. A couple of Nova Super Sports. (huh, the font is nearly perfect for that look up a google image) A 1965 short box fleetside pickup, An acreage with a well equipped shop and an airplane with a current and valid CofA.
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Re:

Postby BigBallinStalin on Tue Apr 02, 2013 12:34 am

2dimes wrote:I have a reasonable collection of ~ahem~ treasures thank you. I'm missing a 1955 210 sedan. A couple of Nova Super Sports. (huh, the font is nearly perfect for that look up a google image) A 1965 short box fleetside pickup, An acreage with a well equipped shop and an airplane with a current and valid CofA.


So, when are you going to drive them all at the same time?
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Postby 2dimes on Tue Apr 02, 2013 12:39 am

I don't drive more than one vehicle in the current collection either.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby BigBallinStalin on Tue Apr 02, 2013 11:44 am

You don't really have an unofficial junk yard, do you?
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Postby 2dimes on Tue Apr 02, 2013 1:59 pm

I suppose I do. Some of it is in my parents garage (mostly parts for a 1967 Beaumont 1/4 mile race car.*) some is in mine including a 1979 F-250 and I have a 1965 Nova SS basket case out at my Dad's cousin's farm provided they have not sold it to a passer by. There is a GMC C-6500 in my yard that was intended for work that never occured. My wife has a travel trailer and Avalanche that we use for trips and camping. I theory if I had the well equipped shop much of this stuff might be reassembled into functional vehichles.



*A similar functional unit to the parts I have is pictured here as the coupe. http://en.wikipedia.org/wiki/Beaumont_(automobile)
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby BigBallinStalin on Tue Apr 02, 2013 5:26 pm

I've uploaded the following tool shop for you:

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Download and Print!
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Postby 2dimes on Tue Apr 02, 2013 7:57 pm

Thanks.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby Fruitcake on Wed Apr 03, 2013 5:05 pm

So as the dust settles from the Cyprus crisis, a new storm is brewing.

Information is steadily being leaked that, it could be said, proves the deposit haircut was pretty much known in certain circles days and even weeks in advance. Currency outflows surged in February, then the beginning of March showed an even greater surge among the lower level depositors (but still for significant sums).

Some interesting names amongst the list of withdrawing companies that I took a closer look at:

PM LUCAS ENTERPRISES LIMITED - gas and Exploration specialists. Emptied their account of nearly €6,000,000
L.G.O. LUXURY GOODS ONLINE LIMITED - luxury goods specialists - Emptied their account of just over €5,000,000
EXXONMOBIL CYPRUS LTD - emptied account of nearly €2,500,000
JCC PAYMENT SYSTEMS LTD (Shareholders: Bank of Cyprus: 45% / Laiki Bank: 30% / Consortium: 25% -consisting of Hellenic Bank, National Bank of Greece (Cyprus), Piraeus Bank, Alpha Bank) emptied one account of just over €10,000,000 and a further 8 accounts totalling some €16,000,0000
TAMOIL LUBRICANTS INTERNATIONAL LTD (Dutch Company) Emptied their account of nearly €3,000,000
MACKEREL HOLDINGS LTD (New Zealand company, owned by ORACLE TRUST COMPANY LIMITED, also of NZ) emptied account of €1,800,000
ONEWORLD LTD – emptied a clients account of just over €12,500,000

Of course, I am sure there was good reason for these accounts (and all the others) to have been emptied. There was also good reason for all the others who made significant withdrawals. The total of all these withdrawals being around $916 million in the run-up to the bailout deal.

The general consensus is that the haircut on significant deposits now in the banks will be in excess of 60%.

A very sad situation all round with the Cypriot people being made to pay for the continued vainglorious pursuit of this Euro club.
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Postby 2dimes on Wed Apr 03, 2013 6:18 pm

What does that have to do with motor vehicle collecting?
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Re:

Postby rishaed on Wed Apr 03, 2013 6:39 pm

2dimes wrote:What does that have to do with motor vehicle collecting?

Its a British Retirement place in the Mediteranean, so I would say just about everything (no more collecting you poor saps) That being said, what does your sub off topic discussion have to do with this thread? :roll:
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Postby 2dimes on Wed Apr 03, 2013 6:44 pm

What's a retirement place in the Mediterranean?
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby rishaed on Wed Apr 03, 2013 6:51 pm

Cyprus :lol:
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Postby 2dimes on Wed Apr 03, 2013 7:14 pm

Never been there. All my time at the med was spent in France or Egypt. Obviously where Loius' family would have been from at some point.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby Fruitcake on Sat Apr 13, 2013 4:31 pm

I see the bail out requirement has increased from the initial €17bn to €23bn. The main issue around this, however, is that Cyprus will have to find the additional €6bn itself, with bank depositors once again the likely target.

Funds will also be raised by Cyprus selling its $400 million of gold reserves while also imposing losses on Bank of Cyprus bondholders. It has been clear since the beginning of the issues around Cyprus that the medicine is more of a penalty than a cure for the economy.

One wonders if the Cypriot people ever will actually deal with their spineless politicians.

Slovenia is definitely on the radar.....
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Postby 2dimes on Tue Nov 12, 2013 3:44 am

Ok Fruit, what's happened? Besides me not getting my heated shop... Has Cyprus gained any economic ground?
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby Timminz on Fri Nov 15, 2013 9:39 pm

How is this going to affect my oil & gas clients with operations in Cyprus?
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Re:

Postby Fruitcake on Sun Jul 05, 2015 4:39 pm

2dimes wrote:Ok Fruit, what's happened? Besides me not getting my heated shop... Has Cyprus gained any economic ground?



It's been some time, but seeing as we have the Greek crisis occurring, I thought an update on Cyprus might be a good idea after the torture those people went through a couple of years back.

Laiki Bank collapsed (of course) but the Bank of Cyprus has been steadily getting it together. However, about half the loan book transferred went into default. Offshore and regional financial services are starting to thrive again and new business registrations are well up.

However, the pure banking sector is thought already to have shrunk by half. Most think that's a good thing, though for all of that, the business model of the country has not significantly changed.

Looking at the 'offshore and regional financial services', it is interesting that Vlad the impaler has recently sanctioned a €2.5 billion loan to Cyprus (he doesn't give up...or was this payback for something else one wonders....answers best kept to yourselves).

Russian money buying assets on the island has been steadily increasing for the last 15 months, so it would seem all is forgiven from that sector.

I am something of a philosopher when my money isn't involved (as it no longer is as my broker has orders to clear my positions tomorrow - Monday) so here's my take on the Cyprus crisis compared , albeit briefly, to the Greek.

There was €6.3 billion withdrawn from the Cypriot banks April 2013. But deposits soon started to return. Foreign investors started to come back in (of course, who wouldn't with asset prices being what they then were.) Bank of Cyprus raised €1 billion from them in July 2014, and Hellenic Bank sold over half of its shares to Belarussian and American firms the same year.The real economy suffered much less than expected but continued to contract until the end of last year. Tourism took a dive but that has recovered to pre crisis levels this year.

Although a record €6.3 billion was withdrawn from banks, on net, in April 2013, deposits soon started to return. Foreign investors came back. Bank of Cyprus raised €1 billion from them in July 2014, and Hellenic Bank sold over half of its shares to Belarussian and American firms the same year. The real economy also suffered much less damage than expected (though it did continue to contract through the end of 2014). Tourism suffered a little during the crisis but has more than caught up since, with tourist arrivals in the first five months of this year increasing almost 10% year-on-year. Although the financial sector has taken a big hit, the growth of the island's business-services industry has begun to make up for the loss.

Is all this applicable to the present Greek crisis? Well, Cypriots only suffered six days of uncertainty between rejecting and agreeing to a bail-out. Greeks, on the other hand face a very different dynamic. They have been in the shitter for 5 years or more already. They are much further down the road than Cyprus ever was. However, one parallel that should be noted is that Vlad has been sending senior bods down to Athens for some time now. The Russian ambassador to Athens was one of the first visitors received by Alexis Tsipras upon his election victory.

My take? I think Grexit is now a near certainty and that Vlad will increase his influence further around the Med. Merkel et al can try all they like, they should never have sold Greece short.
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Re: gov't to withdraw 10% from everyone's bank accounts

Postby Phatscotty on Sun Jul 05, 2015 6:13 pm

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Re: gov't to withdraw 10% from everyone's bank accounts

Postby 2dimes on Tue Jul 07, 2015 11:40 pm

So did the 10% stolen from each bank account effectively help save their economy, allowing citizens to keep most of their money?

Though it was mentioned in the thread it may have ended up being 60%.

In hind sight I am somewhat surprised it did not collapse and disappear like the Generalheadache multi account.
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