The Cyprus Bailout

ZenGum · 03-20-2013, 08:13 AM

So, the angry mob has said NO!

Good for them.

Except that now, a number of their banks are insolvent, and everybody knows it, and there is widespread distrust about deposit security. All banks are closed to prevent a run and the moving of money is suspended, to prevent capital flight. So no business is getting done.

Bean counters are no doubt experimenting with new ways of piling the beans, good luck to them. What's needed is confidence, and really, the only thing to fear is fear itself. That and the fact that everyone else is already afraid.
And incompetence.
And corruption.
And greed.
And short-term profiteering.
Also selfishness, indulgence, nepotism, cynicism, and apathy.
And giant spiders. Zombies and vampires too.

glatt · 03-20-2013, 08:18 AM

Quote:

Originally Posted by ZenGum

And greed.
And short-term profiteering.

This got my interest. How can I profit from the woes of Cyprus?

03-20-2013, 08:13 AM	#1
ZenGum Doctor Wtf Join Date: Oct 2007 Location: Badelaide, Baustralia Posts: 12,861	So, the angry mob has said NO! Good for them. Except that now, a number of their banks are insolvent, and everybody knows it, and there is widespread distrust about deposit security. All banks are closed to prevent a run and the moving of money is suspended, to prevent capital flight. So no business is getting done. Bean counters are no doubt experimenting with new ways of piling the beans, good luck to them. What's needed is confidence, and really, the only thing to fear is fear itself. That and the fact that everyone else is already afraid. And incompetence. And corruption. And greed. And short-term profiteering. Also selfishness, indulgence, nepotism, cynicism, and apathy. And giant spiders. Zombies and vampires too. __________________ Shut up and hug. MoreThanPretty, Nov 5, 2008. Just because I'm nominally polite, does not make me a pussy. Sundae Girl.

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