And This is Why the Cypriot Parliament Haircut Vote is Delayed Indefinitely

Sunday’s scheduled Cypriot Parliament vote was delayed until Monday as the banksters did not have enough votes. Today’s scheduled 4pm vote has been delayed till Tuesday, with reports that the vote could be delayed as late as Friday (while the Cypriot banking system remains shut down in a bank holiday until the banksters receive their proper vote).
Below is why the Cypriot bank holiday may not be ending any time soon…

 

h/t ZH:

Cyprus Parties

 

So in 48 hours and after changing the haircut terms to 3% for Cypriots and 15% for wealthy Russians,  the banksters have gone from needing 9 more votes, to a mere 8.

This could take awhile.

Meanwhile….

Comments

  1. I vote to throw the banksters under a very large bus

  2. These banksters sure have a lot of nerve. Keeping the bank doors  locked, while they  steal the peoples money.
    A new low.
     

  3. Yes, Bambi is sitting back munching on popcorn because she knows the next hunting season won’t be for her head……..it will be for the two legged kind in Armani suits.
     
    This will end badly.

  4. They want to take 15% from the Russian Mob?  Man, that takes nuts of steel.  We will start reading about Italian neck ties next.  I do not believe they will go thru with this.  I don’t think they really have the needed steel nuts.  They have to know that the Ruskeys won’t let this go unanswered.  

  5. What if you needed groceries, gas, or money for medicine! How can the average citizen in Cyprus live their life while these a-holes shut them out from their money. Am I wrong in thinking that their debit cards are useless right now or else they would see a run into retail items. If I lived in the Euro-Zone I’d be closing any accounts I had in any bank there. My family only uses ours on a very limited basis here in the US  and never much money in it at any one time. This is why! Tiger

    • They will be fine in Cyprus.  Those folks who run out of cash will just get what they need on informal credit.  Then, when the banks reopen in a few weeks they will pay back what they owe.  Of course, they will pay interest on what they borrow.  No biggy.  Once this bank holiday is over the residents will keep very little money in the bank from then on.

    • @Pollokeeper, TY for the reply. Do you think the Holiday will last weeks?

    • No one actually knows how long the bank holiday will last.  

  6. Hell even Elmer Fudd gave up Hunting the Wabbit and is Now after the Wanksters.

  7. Ann Barnhardt makes a very specific note that the hundreds of billions in euro bonds held by our TBTF banks would wipe out the entire capital base of those 18 banks, 16 of which were given a stress test green light by the Fed.  The problem with that stress test is that it assumes $450 billion in losses.  If even a tiny slice of derivative losses pass through to our banks, the entire asset base, not just capital, but the complete and full asset base of these banks could be wiped out.  The capital base of the largest US  banks, numbering about 8, is between $8 and 9 trillion and could be taken down.  Would the present administration take capital from our pension and bank accounts to save these banks.  Count on this happening IMO.

    • Count on what happening? We are a nation of laws. Oh, there is such a law waiting to pass the House, Senate then onto the WH. I have repeated, especially after the way the Affordable Care Act 2010 was passed by the Democrats, the laws have been passed or are waiting to be passed, no matter how, to take our money. They are years ahead in planning. When it hits the headlines, they are implementing their NWO. They decide when the story breaks and already have the bylines rehearsed for public consumption. Nothing is left to chance; they control everything. Case in point.
      What if the US Treasury was given legal authority to take up to 50 billion slices from state and federal public pension plans? Say we call it a Public Pension Bank Capital Infusion Fund. These funds, capped at 50 billion each, payout, initially at 8.5% interest for three years, managed by eligible banks determined by the Treasury, guaranteed by the Federal Reserve? 

      There already is a bill, proposed January of 2009. I submit The Public Retiree’s Investment Act of 2009

      http://www.govtrack.us/congress/bills/111/hr710

    • Why do you think they are going after guns so hard? Once disarmed the American public won’t be in a position to fight and prevent the stealing of what little they have left.

  8. I see a big Black Market Brewing in Cyprus and a bunch of Loan Sharks with a tidy interest rate. As for the Countries workers, how will they get paid? An I.O.U. or a Promissory Note from their Central Bank?

  9. No the Russians have sent a warship fleet to Cyprus.. Take our money and your done…Here we go….http://www.secretsofthefed.com/russia-sending-warship-fleet-to-mediterranean-russian-naval-base-in-cyprus-coming-next/

    • @NetRanger I don’t believe their sending their ships there for the Cyprus fiasco. Hell I think Putin is in on it with the rest of the Elite of the One World Order. I still can’t get it out of my mind when Obama was caught whispering to Putin about just give us time till after I’m Elected.

    • @ Marchas45. There is no way that Putin is going to allow anyone steal there money..That is the old KGB and company..Cyprus banking system is like that of the Cayman Islands for people like Romney. Can you imagine that all these wealthy Americans finances where stolen. All hell would break loose. The fact that there has been an amendment by the Cyprus Government & IMF not to tax the deposits of the citizens of Cyprus but 15% of the Russians is very telling that it is personal. 

    • Actually, the Cyprus banking system and the Cayman Islands banking system are nothing alike.  The difference is, in Cayman the local people keep their money in seven big banks:

      Butterfield Bank
      Cayman National Bank
      Fidelity Bank
      First Caribbean International Bank
      HSBC
      Royal Bank of Canada
      Scotia Bank

       The nefarious money is kept separate in any number of 500 “business” banks.  In Cyprus they mix it all together.
       
      Cayman is home to my favorite stretch of beach in the world and we go there quite often.
       

    • Charlie… I think that Obama was talking to Medvedev and not Putin.  Not that it matters greatly, one commie to another, and all.
       
      NetRanger… MANY people have bank accounts in the Cayman Islands… including a large percentage of those “serving” in congress these days.  There is nothing inherently sinister about it.  There CAN be but there does not HAVE to be.  Considering just how badly US banking and IRS laws suck, virtually everyone would LIKE to have a Cayman account.  :-)
       

  10. Printer Friendly

    Financial Institution Letters

    Notice of Expiration: Temporary Unlimited Coverage for Noninterest-Bearing Transaction Accounts
    FIL-45-2012
    November 5, 2012

    Printable Format:
    FIL-45-2012 – PDF (PDF Help

    Summary:
    Pursuant to Section 343 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), temporary unlimited deposit insurance coverage for noninterest-bearing transaction accounts (NIBTAs), including Interest on Lawyer Trust Accounts, is scheduled to expire on December 31, 2012. Absent a change in law, beginning January 1, 2013, the FDIC no longer will provide separate, unlimited deposit insurance coverage for NIBTAs at insured depository institutions (IDIs). IDIs are encouraged to take reasonable steps to provide adequate advance notice to NIBTA depositors of the changes in FDIC insurance coverage so that they may consider the impact of any change in coverage in their management of these transaction accounts.

    Statement of Applicability to Institutions Under $1 Billion in Total Assets: This Financial Institution Letter (FIL) applies to all IDIs, including those with under $1 billion in assets.

    Highlights:
    Section 343 of the Dodd-Frank Act provides separate, unlimited FDIC coverage for NIBTA depositors through December 31, 2012. Beginning January 1, 2013, the FDIC will insure NIBTAs in accordance with 12 C.F.R. Part 330, which generally provides each depositor up to $250,000 in coverage at each separately chartered IDI.

    Some NIBTA depositors may not be aware of the reduction in coverage. To ensure NIBTA depositors receive adequate advance notice of this insurance coverage change, we encourage IDIs to:

    Provide NIBTA depositors adequate advance notice in writing that the temporary unlimited coverage for NIBTA deposits is scheduled to expire on December 31, 2012, and thereafter the FDIC will insure NIBTAs up to $250,000 per depositor. (Model notice language is attached.)
    Remove from their main offices, branches, and Web sites the “Notice of Changes in Temporary FDIC Insurance Coverage for Transaction Accounts” required by 12 C.F.R. § 330.16(c)(1).
    Review NIBTA account agreements and related disclosure statements, and modify the documents as necessary to reflect accurately NIBTA coverage on January 1, 2013.

    FDIC has posted frequently asked questions and answers regarding NIBTA coverage athttp://www.fdic.gov/deposit/deposits/unlimited/expiration.html.

  11. Net Ranger I did a essay on the  deflation of the FDIC coverage in one of my ‘best of’s’.  Not a lot came about as a result.  About $130 billion left small to medium sized banks and moved elsewhere including MMAs who were left wondering how to invest these funds in something other than NIRP. Whether the coverage is $250,000 or unlimited, the FDIC is toothless and would not honor its insurance coverage, either due to lack of capital or just a ‘screw you ‘ attitude like the Cyprus FDIC.
    The Cypriot politicians are pretty much between a rock and hard place.  If they keep the banks closed the economy will shut down. If they open the banks the accounts will be closed or moved.  If by opening, they lock down the accounts to a daily limit on transfers it just delays the collapse of the banks in Cyprus.  Or so it seems.

    • Mahalo! AGXIIK,
      I appreciate the information. This is getting good. Especially for those who stacked the smack. Oh Magic Island looks good from here.

  12. More worrisome headlines:
     
    “Central bank of Cyprus orders island’s lenders to block customers’ transfers.”
    “London freezes payment of Cyprus-based British pensioners.”
    “Cyprus banks closed on Tuesday and Wednesday.”
    –ekathimerini.com

  13. The fact that the banksters are “comfortable” taking Russian and Mafia money gives you some sense of how difficult it would be to oust.  Oh, sure, you could schedule a conference and implode the fucking building, but short of that, these banksters are “connected” and I don’t me soley to the Mafia.  They have ties to somebody they are comfortable that they will be teflon and be saved.  Guess who?????
    @Tiger:  Attention!!!!! Get this!!!! What you speak of is the average person feeding and providing basics for themselves and their families.   Nothing wrong with that….EXCEPT…the fucking ELITISTS don’t give a shit about you or your family, your neighbors, your likes and dislikes, wants, and needs.  When that soaks in, then wherever you live on this planet you need to protect yourself.  Do what you must, but give no “authority” a pass when it comes to the questions:  Can I rely on them?  Can I trust them?  Are they looking out for my best interest? The answer is clearly NO!  Have a blessed day!  Oh, yes, stack your ass off! Don’t even look at the price of silver, because its now clearly bogus. Just take fiat and buy some silver!

    • @silverrrrr I am with you on that! I have a year of food stored and because I live in NYS an unfortunate accident happened last summer where all my guns fell off my rowboat while fishing for Goldfish on lake Erie. What was I thinking even taking them out there? I really miss my AR. I grow a large garden each year and am a seed saver. I live rurally and have pretty good neighbors, and I love to stack. I feel I am in a pretty good place with preps, but you know that these poor fools in Cyprus are not! I do appreciate the warning, and feel that more people should be warning the populace. Present company here at SD excluded (since we do warn and sound the alarm). Peace Tiger

    • On the other hand, who says that the Russians are going to play either nice or by “the rules”?  Ex-spetsnaz snipers are easily available and work cheap.  Many of them are superb long-distance riflemen too.  BLAP!  Message sent.  Message received.
       

  14. Jim Sinclair makes a very telling post about the ex KGB money that sits in Cypriot banks.  He says all Russian banking goes through Cyprus  The politicians in Cyrpus who vote for the confiscation are dead men walking. Sooner or later they will assume room temperature.   The KGB plays for keeps.
    Those who have voted against may spare their own lives or just be killed because they were part of the elected group that even considered this idiotic action, killed as a warning to anyone else who thinks it’s a good idea to steal KGB money. Obama is a f***** jackass, a Chorney Zhup, if he thinks Putin gives a flyiing frig about cooperating with the domino in the WH.Piss of Putin and he’ll work Obama like a rented mule
      As for those war ships?  The US went to war for less.  Remember Saddam and WMDs.  Libyan gold?  Grenada?  Putin is going to do something, maybe quietly or maybe very noisily, depending on what message he wants to send.  But if he allows this to go severely unpunished it shows weakness on his part and that would be fatal for him. The next president of Russia would not be so accomodating. What’s more, given that Putin has stakes in any Russian company of any size and any Russian venture that is under the radar, a substantial part of those billions are his.  I would not want to be 1,000 miles from Nicosia when this blows up.  Sinclair and Turk at KWN really understand the incredible foolishness of the IMF.  That IMF did not consider the blowback from Russia is one thing.  That they did not tell Putin of their actions and let him get his money out, or at least cut him in on the scam so he could be made whole, is banker stupidity on a cosmic scale.  LeGard’s experience in the Chicago mob style of politics and banking must have made her think she had bigger balls than Vlad.  I wonder if she will last the month as president of the IMF or even remaining  on the right side of the divot.

    • Don’t think for one moment that these ex and or old KGB members will not call in some markers. I would not be surprised if things are in motion as we text. Putin will purchase more gold like China and so will the other countries. The United States has bitten of more than they can chew. Holding other countries Gold as a ransom. Anyone notice high Timmy G. is in the wind. 

    • “LeGard’s experience in the Chicago mob style of politics and banking must have made her think she had bigger balls than Vlad.”
       
      If history is ANY guide, the rule to follow is… never, ever, f*** with a guy named VLAD.  :-O
       

  15. Cyprus Archbishop Says “Leave the Eurozone and Readopt the Cyprus Pound”
    http://tinyurl.com/cp8edyu

    I live in Cyprus. All of the local construction companies on the verge of bankruptcy. Just now, two large Russian and Chinese companies, refused to continue several major construction projects in Cyprus. Game over – it is full of end for the economy of Cyprus!

    They want to bring us to our knees. They want from us to accept their ultimatum or we have died of starvation without money and food!
    I do not want to see Cyprus as a part of Europe! Return the Cypriot pound and go to hell with your f*ck*ng Europe, EuroBank-freaks!

    • @Silvermall Well said, your a true Cypriot. God Bless and Good luck to you and your family with what’s coming down the road. May you and your Countrymen prevail over the Crooked Politicians, Banksters and the Elite.

    • @ Marchas45 
      Thank you for your understanding and support. The construction industry of Cyprus, lives at the expense only of two customers. It is Russia and China. Now they do not want to buy or build a property in Cyprus. We will see the bankruptcy of building companies and tens of thousands of unemployed. We will see the disaster.

      Every day we hear on the news that 62% of Cypriots want to stay in the European Union. But this is old data. Today the situation has changed. I think that today, 62% of Cypriots did not want to stay in the EU.

      We all know, that the poorest Russian tourist, always leaves in the tavern in three – four more pourboire, than the any of rich German tourist.

  16. silvermail  you are boots on the street.  Let us know how you are doing and what you see in Cyprus.  I assume that you are on the Greek side of the island.   Is the confiscation just on the Greek side or does this include the Turkish side?  If it does, the Greeks are probably not able to do much to help since they have their own hard set of problems.  The Turks are another story.  Turkey might side with the Russians since the west is treating one of their allies, turkey, pretty badly
    Mahalo Netranger 808  What island do you hail from?
    Your note and questions about the Fed pensions and maybe state pensions too are up for grabs.  The last I heard was about 25% of the Fed pension plans have been rotated into the Fed UST ponzi scheme to help balance the deficit.  Those funds will be wiped out if the rates go up to 5% and USTs drop by 30-50%.
    Our pensions are just a large target of capital the government is eyeing covetously.  It’s just a matter of time before the administration taps us on the shoulder with a casual request we contribute to a bailout.

  17. How can banks survive if all depositors will surely take their money out?
    Not the interest in the world should be able to prevent that, right?

    • How can banks survive if they continue to be run by the damned morons who created all this bankster BS?
       
      Yes, many people will take their money out of the banks.  At least, they will try to do that.  One clear sign of a failed regime is capital controls. When we see those being implemented, we know that those in charge are losing control of the situation and have resorted to capital controls as a way to keep the disintegrating system together for a bit longer.
       

    • @ AGXIIK 
      You are right. Northern Cyprus – this is not Europe. Northern Cyprus is Turkey. It is another country, and other laws.
      Main attraction of Cyprus – a British law and guarantee for maintaining the property. But now it’s all in the past. They killed Cyprus.
      I understand that if we have to pay 10% to save the economy and keep the main sources of income.
      But I do not understand if we have to pay 10% to kill the economy and losing our the main sources of income.

      A group of more powerful states made a well-planned murder and eating of a weak state. I think this is just the beginning. Europe – is the law of the jungle.

  18. “Sunday’s scheduled Cypriot Parliament vote was delayed until Monday as the banksters did not have enough votes.”
     
    Sounds to me as if they raised the bet before they looked at their cards.

  19. It sucks for the people who have kept their currencies inside bank accounts at Cypriot. Although, it is their fault for believing that the banksters would keep their purchasing powers safe. Once again, if you don’t hold it, you don’t own it.

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