2013-03-17

Updated: Cypriot depositor tax (haircut) roundup; IMF wanted 40%!

First, read this post at FTAlphaville on the Cyprus depositor tax: A stupid idea whose time had come

Then see, from March 4: Money-Laundering Suspicion Stalls Europe's Latest Bailout
"We will not secure deposits of Russian black money in Cypriot banks with German taxpayer money," said Carsten Schneider, of the leading SPD opposition party, last month

Then this: Sinclair - One Of The Most Important Events In History & Gold
“The wire reports on the Cyprus situation are working overtime to try to make the case that 80% of the deposits belong to the people of Cyprus, and only 20% of the deposits belong to the Russians. That’s absolutely false. After 1985, when the ‘Robber Barrons’ of Russia took over the general economics of Russia, that was the transformation from the KGB to private business. The primary place for exported Russian funds was Cyprus.

Now, there is one leader in the world that would be very dangerous to challenge and that is Putin of Russia....

“What’s just happened is the IMF has backed up, lauded, supported, and publicized, as if it were a victory, the taking of 10% of what really turns out to be 80% of Russian ‘black money.’ Russian ‘black money’ is KGB money, now in business. The leader of Russia (Putin) was a former KGB official. Whose money do you think they have taken? This is the biggest mistake the IMF could possibly have ever made.”

And then there are the myriad people expecting increased outflows from European banks, such as this one from Mish: Contagion-Begging Actions; Expect Bank Runs Following Cyprus Idiocy; Have Money in a Spanish Bank? Take It Out Now!

Update: From ZeroHedge, Germany And IMF's Initial Deposit Haircut Demand: 40% Of Total.

No comments:

Post a Comment