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overtheedge
Member since May 2012
680 commentaries - 6 followers

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Sad Cyprus

- Goldmoney -

Lest anyone call Germany the bad guy, just look at their financial state. Actual financial state, not comparing theirs to other country's finances.

No one considers Germany's exposure. One borrowed, one lent. Joint blame? Don't fall into the sanctimonious realm of blaming the people that loaned you money. Same goes for countries. The borrower who blames the lender needs to have a 36" Louisville massage about the head and shoulders.

Do you think the German's don't see the handwriting on the wall? The want to repatriate as much wealth as possible before SHTF. They want to have debts settled. Don't you want to be paid off before SHTF?

Obviously Germany doesn't trust Cypriot banks. Wait. Isn't Germany repatriating gold too? Trust is a funny thing.

Commented 4223 days ago

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Beginning of the headline :Pure theft. That’s the description many are giving to the weekend’s news from Cyprus, where bank depositors have had their accounts frozen, with a special 9.9% levy on deposits of over €100,000 and 6.7% on amounts below that. Interest is also being taxed at 20-25%, and the country is being forced by the IMF and EU to raise its 10% corporation tax rate. These measures are designed to raise €5.8 billion as a contribution to a €10bn bailout for the Cypriot government. Yet again, banks and the gov... Read More

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