A quick update regarding sovereign freedom and financial abuse

Discussion in 'The Bar' started by LonghornJ, Mar 17, 2013.

  1. LonghornJ

    LonghornJ VIP Extreme Gold

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    Just a quick plug, in case you care... the citizens of the small nation of Cyprus have had 10% of the value of their savings accounts seized over the weekend to bail out bad bets on Greek debt... not a voted tax, but literal confiscation of funds to cover bad bets that should otherwise send a financial entity into BK immediately.

    This is the test model... will the citizens stand for it? Would you, if you were told that your bank was closed until "further notice" and everything you thought you had "saved" was immediately reduced by 10% on the whim of a government?

    Do you think it can't happen here? Do you think the IRS doesn't have a 100% read on your retirement account?

    Things to think about...

    http://www.cnbc.com/id/100561018
     
  2. stripes

    stripes Active Member Banned User

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    nah, we can print money until the cows come home, krugman says its cool so we're all set...he won some major award :dontknow:
    [​IMG]

    buy bonds is my advice:c
     
  3. Stew Nod

    Stew Nod Hello VIP

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    Something really ugly is coming our way
     
  4. LonghornJ

    LonghornJ VIP Extreme Gold

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    Yep...
     
  5. Dick Gozinya

    Dick Gozinya Active Member

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    Some dude's platform in the 2008 election was to abolish the IRS. I was so pushing that button on election day.

    Tell ya what, though... taking 10% and having ALL national debt eliminated, in exchange for my investments going through the roof on the promise of a stable economy? For me, its a no brainer... I'd get the 10% back within less than a week.
     
  6. Phillip

    Phillip Well-Known Member VIP

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    They start with personal freedoms, then guns, then this crazy shit. Scary.
     
  7. Avery

    Avery Well-Known Member Banned User

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    What about taking 10% savings to save a couple of banks? Cause that's what it's for.
     
  8. LonghornJ

    LonghornJ VIP Extreme Gold

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    That isn't the case... the 10% hit was to keep ABC bank solvent. Cyprus constitutes .2% of the Euro zone economy. Peanuts.

    It's a test... and a shot across the bow for anyone paying attention.
     
  9. Stew Nod

    Stew Nod Hello VIP

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  10. Stew Nod

    Stew Nod Hello VIP

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    I swear every fucking one of them is a rotten greedy scumbag...and they answer to no one
     
  11. Dick Gozinya

    Dick Gozinya Active Member

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    What's scary are the chicken littles and this personal freedoms and guns shit. Turn off Fox News, would ya?

    Oh. Fuck that. Been there.
     
  12. LonghornJ

    LonghornJ VIP Extreme Gold

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  13. 2Manboobs

    2Manboobs New Member Banned User

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    Yet people will still continue to piss & moan about how shitty America is
     
  14. Stew Nod

    Stew Nod Hello VIP

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    Yup...and I have maple leafs...just in case they pull that we're confiscating american gold coins crap...fuck them
     
  15. zhukov

    zhukov Time traveler Gold

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    Cyprus is half Greek, half Turk

    they got bigger problems than money
     
  16. gwartney

    gwartney Unafilliated Gold

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    Ha. Good luck squeezing any money out of me.:bigcry:
     
  17. LonghornJ

    LonghornJ VIP Extreme Gold

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    We got sunburned as hell on Greenville... glad the weekend is over here.
     
  18. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    I did see this today.

    No, I don't think that will happen here, unless we continue on a path chosen by the Republican party. With interests rates as low as they are, we should use the 'free money' to build critical infrastructure, and put people back to work.

    :v
     
  19. Daveindiego

    Daveindiego Confirmed Internet Legend Gold

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    I love when people rip on Krugman, it's all "he said it's ok to run up unsustainable debts, and in the long run, as Keynes said, we're all dead".

    Krugman has always said that the debt should be addressed at a time of better economic conditions, he has never proposed just continuing to run up a debt forever.

    idiots.
     
  20. fenderbaum

    fenderbaum Active Member

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    Longhorn, I have been thinking that with all these Sequesters, and Fiscal Cliffs that something big will be falling on us soon, but they just pass themselves an extension and continue as business as usual until the next catch phrase is needed.

    When do you think that this will all come to a head?

    Oh, and how come nobody wants to talk of Wall St. making record profits amidst this still dismal economy? This sets off no alarms for anyone?