Eurozone Launches Currency Roach Motel: Your Money Checks In, But it Doesn’t Check Out!

roach motelBy AGXIIK:

Face it folks, the die is cast.  Bankers have shown their true colors. They are no different that robber barons of days past.  They will steal your money through interest, fees, penalties, foreclosures and if those fail, they will steal your assets because you are a convenient and conveniently foolish cash sheep waiting to be fleeced.

The modern financial system has become a Currency Roach Motel.  Your money checks in but it doesn’t check out.


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For as long as I can remember we’ve known that the government regards our money and assets as something on ‘temporary loan’ from the government. What’s our is theirs or so they think.  Somehow, as we wallow in our little nests of debt, we apparently accept that fate, excepting the Silver Doctor Irregulars.
With the advent of people being MF Global’d, the people of Cyprus are finding out that the banks are now infected with the same disease, the same mental condition that makes them think our deposits are now theirs.  We regularly see the difficulty of extracting FIAT from the bank, with the entire cadre of banker drones giving us the turd eye when we ask for our money bank.
It’s Oliver Twiatian in it scope. ‘Please sir, may I have some more?’  ‘No, you can’t have your pudding until you eat your meat’  This phrase is about as nonsensical as some of the banker excuses I’ve heard from readers here describing how they are treated at their local FIAT Venus Fly Trap, aka bank.   Or maybe like a Currency Roach Motel.  Your money checks in but it doesn’t check out.

Face it folks, the die is cast.  While I give Frau Dracmercula her due in that she grabbed the oligarchs by their Ball-Shevixs, there will be some payback on that action.  Bankers have shown their true colors. They are no different that robber barons of days past.  They will steal your money through interest, fees, penalties, foreclosures and if those fail, they will steal your assets because you are a convenient and conveniently foolish cash sheep waiting to be fleeced.

There is a bit of good news.  Bankers live amongst us. They are our neighbors. Their kids go to the same schools as ours and they attend the same churches (for different reasons no doubt).  That thought reminds me of the ending scene in Open Range.  Boss and Costner have gunned down the robber baron and his henchmen.  The last of that crew is seen in the background running like a coward from the townspeople.  He gets his just desserts.  Costner’s great line from the movie was when he and Boss visited the sheriff and the baron.  Costner later noted to Boss, ‘you can tell a lot about a man’s intention if you listen to what they say’   The ghouls in Troika have laid down their marker and made their intentions clear.  No more Free Grazing on their land.

A quick note on Cyprus.  The bail in will be short over 3 billion euros as russian oligarchs were able to siphon off their bit deposits through Cypriot bank affiliates in Russian before and during the week of the bank shutdown.
The haircut will now include a scalping.

A member of the EU parliament is proposing new rules that all Eurozone banks be subject to bail ins on accounts over 100,000 Euros.
The jig is now most certainly up. He also warned that big depositors check the health of their bank before depositing more than  100,000 euros. 
The Bank of Cyprus head just resigned.
The plot sickens.

 

 

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