Cyprus-Forum.com

by **sven** » Sat Mar 30, 2013 6:19 pm

Tim Drayton wrote:The point is that for a bank to put the bulk of its assets into one single investment flies in the face of the most basic rule of risk management. Until some light is shone on how and why that decision was taken, we will remain in the dark as to the cause of this crisis.

You seem to be suffering from "self hating Jew syndrome", determined to blame Cypriot Banks . You rightly claimed that it did not appear to have been an externally engineered crisis. As I have demonstrated, that assumption is incorrect. To appear to be something, is NOT the same as actually being it. In the quote above you point out putting all your eggs in one basket, is basic error, such a basic error, it could not have been made in error. And the tone of your last quote is apathetic. I have also demonstrated to you, that the ECB being LEGALLY responsible for 'MONETARY POLICY' for the CENTRAL BANK of CYPRUS (CBoC), sought in a direct conflict of interest, to write off Bonds that itself held 40billion euros. Maybe I should put it in simplistic terms. If Sid and john were owed 40 euros each by Bob, (sorry bob), and Sid actively sort to get John to write off the 40 euros owed too him by Bob, so that Sid could get paid, and you can't see the conflict of Interest, then no wonder Cyprus is the situation it is in. By the way how is the Masons Lodge in Limassol.

And just as a little extra the Canadian Government has now announced the adoption of the Cyprus Capture technique

by **Tim Drayton** » Sat Mar 30, 2013 6:28 pm

sven wrote:
Tim Drayton wrote:The point is that for a bank to put the bulk of its assets into one single investment flies in the face of the most basic rule of risk management. Until some light is shone on how and why that decision was taken, we will remain in the dark as to the cause of this crisis.

You seem to be suffering from "self hating Jew syndrome", determined to blame Cypriot Banks . You rightly claimed that it did not appear to have been an externally engineered crisis. As I have demonstrated, that assumption is incorrect. To appear to be something, is NOT the same as actually being it. In the quote above you point out putting all your eggs in one basket, is basic error, such a basic error, it could not have been made in error. And the tone of your last quote is apathetic. I have also demonstrated to you, that the ECB being LEGALLY responsible for 'MONETARY POLICY' for the CENTRAL BANK of CYPRUS (CBoC), sought in a direct conflict of interest, to write off Bonds that itself held 40billion euros. Maybe I should put it in simplistic terms. If Sid and john were owed 40 euros each by Bob, (sorry bob), and Sid actively sort to get John to write off the 40 euros owed too him by Bob, so that Sid could get paid, and you can't see the conflict of Interest, then no wonder Cyprus is the situation it is in. By the way how is the Masons Lodge in Limassol.

And just as a little extra the Canadian Government has now announced the adoption of the Cyprus Capture technique

To suggest that the Greek haircut was orchestrated in a conspiracy to bankrupt Cyprus is to engage in a flight of fantasy, I am afraid.

by **Get Real!** » Sat Mar 30, 2013 6:33 pm

I agree that passing the buck to Britain and/or Germany is daft and blind.

The truth is that our little traitors saw fit to “invest” in a country (Greece) that was spiraling into the abyss at our peril.

This was both an act of incompetence and political treason.

by **Tim Drayton** » Sat Mar 30, 2013 6:36 pm

This is how the Wall Street Journal sees it (I am not necessarily saying it is true):

http://online.wsj.com/article/SB1000142 ... 23182.html

by **sven** » Sat Mar 30, 2013 6:39 pm

Tim Drayton wrote:
sven wrote:
Tim Drayton wrote:The point is that for a bank to put the bulk of its assets into one single investment flies in the face of the most basic rule of risk management. Until some light is shone on how and why that decision was taken, we will remain in the dark as to the cause of this crisis.

You seem to be suffering from "self hating Jew syndrome", determined to blame Cypriot Banks . You rightly claimed that it did not appear to have been an externally engineered crisis. As I have demonstrated, that assumption is incorrect. To appear to be something, is NOT the same as actually being it. In the quote above you point out putting all your eggs in one basket, is basic error, such a basic error, it could not have been made in error. And the tone of your last quote is apathetic. I have also demonstrated to you, that the ECB being LEGALLY responsible for 'MONETARY POLICY' for the CENTRAL BANK of CYPRUS (CBoC), sought in a direct conflict of interest, to write off Bonds that itself held 40billion euros. Maybe I should put it in simplistic terms. If Sid and john were owed 40 euros each by Bob, (sorry bob), and Sid actively sort to get John to write off the 40 euros owed too him by Bob, so that Sid could get paid, and you can't see the conflict of Interest, then no wonder Cyprus is the situation it is in. By the way how is the Masons Lodge in Limassol.

And just as a little extra the Canadian Government has now announced the adoption of the Cyprus Capture technique

To suggest that the Greek haircut was orchestrated in a conspiracy to bankrupt Cyprus is to engage in a flight of fantasy, I am afraid.

I have to laugh, at how blind you are, you said earlier on you doubted events involving Reagan and Thatcher, the irony. :lol:

by **Cap** » Sat Mar 30, 2013 6:43 pm

Get Real! wrote:I agree that passing the buck to Britain and/or Germany is daft and blind.

The truth is that our little traitors saw fit to “invest” in a country (Greece) that was spiraling into the abyss at our peril.

This was both an act of incompetence and political treason.

It's of no use dude.
Our people don't have wool over their eyes, they have nickel plated titanium.
You can't pull that sh** off, you have to decapitate.

by **sven** » Sat Mar 30, 2013 6:48 pm

Tim Drayton wrote:
sven wrote:
Tim Drayton wrote:Sorry, starting to think you are genuine. I thought you were a mate of "user from germany" who turned out not to know any German, and soon showed a clean pair of heels.
I just don't have time to engage in lengthy debate just now. I am a freelancer and have a full work load in front of me. I started at 6.30 this morning and will be full at it until the evening and will do the same again tomorrow. If it continues like this, I will paying a good amount of temporary tax to the government in July and they need it.
Yes, the next two months will be very tough, but the banks have not collapsed, the shops are still fully stocked and the euros in our wallets and in our bank accounts are still worth the same. Cyprus will pull back from the abyss and I am suspicious about people who seem to have an agenda of spreading panic and fear. Perhaps I got you wrong. Sorry.

Tim, you have got me wrong, I am not a scaremonger, I see the reality, I look at the Government websites, I look at the Legislation the Government uses, I look at the way that Legislation is implemented. Ask yourself this, WHY ? , why is the Government amending the legislation so that it can carry out the Cyprus Capture in the UK, it does not do that on a whim. The documents are all OFFICIAL documents, THEIR words, and the documents are dated November and December, that is when they were published, the discussion and the drawing up of those documents have taken place far in advance of when they were published . They have been considering these measures for some time, there lies the 'INTENT'.
Think about it, what HAS happened in Cyprus has NOT come out of the blue, the delegation sent to implement the 'agreement' between the Troika and the Cypriot government, has not come from Germany at the request of Herr Merkell, it has not come from the IMF and it has not come from the ECB, the delegation to implement has come from the UK, can you see the implication of that.
Look Tim, bob who I do not know, says there are businesses in Limassol that are going bankrupt, and I know there is a business in Larnaca letting go 80% off their staff ,and he is not sure whether he is going to have to close altogether, businesses have had their operating capital stolen, was it not last year that business rates/valuations went up 25% (that is from memory & paraphrased). Cyprus is an Island and as far as the Troika go, they know that Islands are easy to isolate. The better prepared you are, the MORE likely you are going to be to survive it, but don't be conned into believing that the system that got YOU into this situation is going to get you out of it. It won't if you sit back and let it do what it has always done, Government is supposed to represent the people, but government seems to have lost sight of that mandate. The situation in Cyprus means the Government needs closer scrutiny by the people. I repeat what has happened in Cyprus has not happened by mistake, you only have to look at the UK government and the Bank of England documents to realise that, it is in black and white.

I accept most of what you say, and in fact I look with suspicion at all of the crises that have kept on erupting all over the world ever since the era of Reagan and Thatcher that always end in externally imposed mass privatisations, i.e. the opening up to global capital of areas like health and education that were once regarded as being the prerogative of the state to provide to its citizens. The one thing that makes me optimistic, though, is that if you look at any country where these crises have occurred, ten years down the line everything is back to normal except that global capital has its fingers in a lot of pies that it was not involved in before, and the distribution of income is a lot less even.

It is true that in the case of Cyprus, Merkel and Schauble went straight for the jugular. However, you also have to admit that this does not appear to have been an externally engineered crisis. If the executives of Laiki and BoC had not decided behind closed doors to put the bulk of their banks' funds into Greek bonds, we wouldn't be where we are today. I, for one, want to know more about the course of events behind that decision, and hope that more information will eventually come to light.