When THEY Run Everything.

[Bob Fechter]

"New York City Mayor Michael Bloomberg said on Sunday: Sometimes government does know best. And in those cases, Americans should just cede their rights."

Read more: NYC Mayor Bloomberg: Government has right to 'infringe on your freedom' - Washington Times
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"I'm back in the USSR, don't know how lucky you are."

Yes, my friends, When THEY run everything, we acre cared for by our benevolent Governmentski.

:~)

 

[Larry L.]

"Sometimes government does know best. And in those cases, Americans should just cede their rights."

If anyone needed proof this guy is totally CLUELESS about the role of, and the constitutional LIMITS ON govt power - this ought to provide it.

 

[Bob Fechter]

Its the entire governing elite that thinks like that. He's just dumb enough to say it publicly, or, he realizes that the government schools have had enough time to plant that thought firmly in the nation's thought process.

 

[Terry Oxandale]

Yeah, major error on his part. This will set back any gains he's made in anything he's trying to accomplish. Over-confidence (lately, there appears to be quite an abundance of it) will humble one quickly.

 

[Bob Fechter]

What "gains" are you talking about???

 

[Terry Oxandale]

Open your mind and pretend you are not the only voice in the room. Some folks out there see merit in what he's attempted to do, and those same folks (me for example) hate comments that were referenced in the earlier post (Bloomberg's), because it results in a loss of support (again, me for example).

Now, before you go into a tizzy with some remark back about my support, "support" is rarely 100%, as it seems to be in this world of the political paddock, there is a lot of grey, and I'm in that grey because there are always two sides of any issue, and rarely (dare I say ever) is there only right or wrong with no in-between.

 

[Larry L.]

...in this world of the political paddock, there is a lot of grey, and I'm in that grey because there are always two sides of any issue, and rarely (dare I say ever) is there only right or wrong with no in-between.

In this situation, the constitution C-L-E-A-R-L-Y reveals the fact that there is no grey at all, Terry...none...zero...zip...nada.

 

[Bob Fechter]

I'm not jumping on you for "support," I honestly want to know what you believe has been gained by Bloomberg. Honestly, no trick questions, nothing.

 

[Bob Fechter]

Don't want the original intent of this thread to get buried, as quoted below, the Cyprus government, to get money from the EU, is seizing private citizens' money. And, as the link below shows, the EU quite likes the idea;


Cyprus bail-out: savers will be raided to save euro in future crises, says eurozone chief - Telegraph

Back on message, "Deposits above 100,000 euros in both banks, which are not guaranteed under EU law, will be frozen and used to resolve Laiki's debts and recapitalize Bank of Cyprus through a deposit/equity conversion.

The raid on uninsured Laiki depositors is expected to raise 4.2 billion euros, Eurogroup chairman Jeroen Dijssebloem said."

Cyprus reaches last-minute deal on 10 billion euro bailout | Reuters

Liberals in my country talk often of raiding people's savings as well. :~)

 

[Pete McCluskey.]

Don't want the original intent of this thread to get buried, as quoted below, the Cyprus government, to get money from the EU, is seizing private citizens' money. And, as the link below shows, the EU quite likes the idea;


Cyprus bail-out: savers will be raided to save euro in future crises, says eurozone chief - Telegraph

And don't think that your government would not do the same in a crisis.
Change some of your paper money for physical gold bullion while you can.

 

[Danimal W]

As a Fraternal Brother of Bloomberg...I feel I can make a clear statement about him.....he is an egocentric douche bag with his head shoved up his arse. He wants to be ruler of the nanny state.

 

[Jack]

And don't think that your government would not do the same in a crisis.
Change some of your paper money for physical gold bullion while you can.

The banksters in Germany just announced that they might "pull a Cypress" in France, Italy, Greece, Spain, and "other" EU nations....

 

[Scott Calabro]

The banksters in Germany just announced that they might "pull a Cypress" in France, Italy, Greece, Spain, and "other" EU nations....

Perhaps its really all just part of the plan...


Dijsselbloem Reveals The Euro End Game - Business Insider

 

[Jeff Young]

Perhaps its really all just part of the plan...


Dijsselbloem Reveals The Euro End Game - Business Insider

Holy moly you made me laugh. So this guy advocates this:

"If there is a risk in a bank, our first question should be 'Okay, what are you in the bank going to do about that? What can you do to recapitalise yourself?'" said Dijsselbloem in the interview. "If the bank can't do it, then we'll talk to the shareholders and the bondholders, we'll ask them to contribute in recapitalising the bank, and if necessary the uninsured deposit holders."
.
"If I finance a bank and I know if the bank will get in trouble, I will be hit and I will lose money, I will put a price on that," said Dijsselbloem in the interview. "I think it is a sound economic principle. And having cheap money because the risk will be covered by the government, and I will always get my money back, is not leading to the right decisions in the financial sector.

Which is basically exactly what most of YOU knuckleheads advocated during the crisis here in 2008 -- let the banks collapse, which meant the bond and shareholders took the hit -- and now he says it in a slightly different way and it's the end of the world.

You folks are an endless source of amazement.

 

[Pete McCluskey.]

The banks have no intention of collapsing, they intend to prop themselves up by stealing their clients money via the government, But that's O.K. Because the money they are stealing belongs to rich folk!
I shake my head in wonder.

 

[Doug S.]

The banks have no intention of collapsing, they intend to prop themselves up by stealing their clients money via the government, But that's O.K. Because the money they are stealing belongs to rich folk!
I shake my head in wonder.

Admittedly I haven't really investigated this issue, not living in a country where the banks are allowed to fail (at least not under the previous Republican "Gee-DUB" administration...but, to be fair, I don't think the present Democratic "Bee-OH" administration would be keen on the idea, either), I ask in all sincerity, is this true?

It seems to me that I heard each of the depositors in the banks in Cyprus would take an approximately equal percentage "hit". If that is true, it looks like poor people will be hit equally hard...yet, the poor people are the least able to absorb the shock, IMHO.

I said it long ago, the "downturn", "recession", whatever you want to call it has not been strictly a United States phenomenon, and nobody, not the previous "Gee-DUB'ers" or the present "Bee-OH'ers, could have done anything to stop it. It is a worldwide phenomenon. Perhaps the only ones that won't be hit are the REALLY POOR 3rd world countries that have no money, at all...some of the African nations are actually functioning without a government. Imagine that if you want to have a really GOOD TIME!!

Cheers!

Doug

 

[zollis]

The banksters in Germany just announced --- post #52

I have seen similar actions before.

Quote:

"The price increase is in response to the action taken by the West German goverment to ease the world monetary crisis. Hopefully the West German move, made after discussions with leaders of TEN major nations, will eliminate the dangerous speculation that has demoralized world money markets" unquote.

Sports Car Graphic, February 1969, pages 72+73

When was the big stock market collapse? Circa middle 1969??







Z.C.

 

[Jeff Young]

Admittedly I haven't really investigated this issue, not living in a country where the banks are allowed to fail (at least not under the previous Republican "Gee-DUB" administration...but, to be fair, I don't think the present Democratic "Bee-OH" administration would be keen on the idea, either), I ask in all sincerity, is this true?

It seems to me that I heard each of the depositors in the banks in Cyprus would take an approximately equal percentage "hit". If that is true, it looks like poor people will be hit equally hard...yet, the poor people are the least able to absorb the shock, IMHO.

I said it long ago, the "downturn", "recession", whatever you want to call it has not been strictly a United States phenomenon, and nobody, not the previous "Gee-DUB'ers" or the present "Bee-OH'ers, could have done anything to stop it. It is a worldwide phenomenon. Perhaps the only ones that won't be hit are the REALLY POOR 3rd world countries that have no money, at all...some of the African nations are actually functioning without a government. Imagine that if you want to have a really GOOD TIME!!

Cheers!

Doug

Actually as I understand it, there is no levy on deposits under $100,000. The belief, anyway, is that the larger depositors are foreign, primarily Russian, and engaged in money laundering in the Cypriot banking system. So the levy is on the higher amounts. This may have changed since I read about the proposal last though so don't hold me to it.

 

[Pat]

When you think of it, this is a deal not unlike when banks fail in the U.S. (four so far this year). In the U.S., depositors over the $250K FDIC insurance become general creditors of the liquidation and most often get next to nothing for those uninsured deposits. (In 2008 it used to be $100K). This is somewhat better than the $130K offered in Cyprus.

The big difference is that U.S. banks are not owned by the government unlike those in Cyprus. If a U.S. bank fails, its shareholder value basically goes to $zero. (Insert previous Veek rant about the efficacy of large government institutions HERE).

Insured deposit claims in the U.S. are not paid by the taxpayer but the FDIC insurance funded by member banks.

In recovering assets the FDIC is very agressive. For example, they just agreed to a $42 million legal settlement —from a paper company that played no role in the bank failure that spurred the lawsuit but happened to have bought a packaging firm that had been the owner of a failed bank before spinning the institution off into an independent company in 2007. They also went after failed Washington Mutual Executives and wives. Media reports said the FDIC wants $900 million out of them and their insurors.

So which is better, having the FDIC after your rump or a really annoyed Russian mobster?

 

[Jeff Young]

Not entirely true that the government owns the banks in Cyprus. Of the two biggest banks, the biggest is owned 80% by private shareholders. The second biggest was similarly owned until 2012 when the government bought 84% of it in a previous bailout.

Here;

Factbox: The Cyprus banks that have transfixed the world | Reuters