Reply to: Will Cyprus cause the collapse of the Eurozone?

[chef]

March 22nd

My fourpennethsworth.

If Cyprus forces it's savers to take a haircut, then the very pitprop of modern economics will have been kicked out and in time the whole mineshaft will collapse. I would imagine if this looked likely then someone big would step in and write a cheque. It's a wonder Cyprus didn't just pass the movement and call Merkel's bluff.

The euro project will not fail. Cyprus will get it's funding, and get mightily bum raped in the process by the Russians.

The markets don't care who bails them out. For that reason I'm in. Short USD/CHF.

Bad trade that. You want to be long the dollar for the next few days.

We'll see.

March 25th

How's your trade working out for you?

USD/CHF 5 day exchange rate linky

Suity 0
AussieLong 1

[Mich the Tester]

I think in general the prevention of bamboozling of consumers by big business is a good thing. Unfortunately it does seem that the people responsible have themselves become 'big business' and I think that is the root of the problem.

So do I, and actually you've reinforced my point, for which I am grateful. I'd prefer to see the government sending people to check whether producers are actually putting the stuff in the bag that is named on the front and listed on the back under the header 'ingredients', instead of sitting around in committees dreaming up new ways of telling us what we already know. Perhaps resources could be diverted from the 'committee for dreaming up gimmicky labelling laws' to the 'department of visiting meat producers and checking whether it really is beef in the package labelled 'beef lasagna'.

[doodab]

Ah, yes, a bag of crisps. Now we all know that crisps are basically fried slices of potato with lots of salt and some sugar, and fried slices of potato contain lots of calories to make us fatty and wobbly, and contain salt, which we need in limited amounts, but in large amounts it can be bad for us, so we should eat crisps and enjoy them, but do so in moderation. Why, then, do we need that patronising tulipe printed on the bottom left corner of the bag to tell us what we already ******* well know? Is it to justify some politician's useless existence? Hmm? Is it to justify paying stupendous amounts of tax to politicians who can't make the books balance because they waste huge amounts of money on throwing all this condescending tulipe at us, every bloody day, on every bloody product we buy?

I have to follow quite a specific diet for medical reasons and i find the numbers useful, not so much for crisps and pies and pate and stuff I know is bad, but for all the stuff that you might think is ok but isn't.

I think in general the prevention of bamboozling of consumers by big business is a good thing. Unfortunately it does seem that the people responsible have themselves become 'big business' and I think that is the root of the problem.

[doodab]

It's not politicians you should rail against, it's us. The electorate. As a whole, all electorates are as thick as pig sh1t.

And yet for some reason people think "the wisdom of crowds" isn't a load of bollocking bollocks.

"****ed we are" said Yoda. And right he was.

[Doggy Styles]

"This is what we now have by way of government: a self-serving elite who cannot be trusted, operating to a timetable defined by, and limited to, the electoral cycle."

Summed it up nicely for me.

Self-serving? Well yes, except...

Imagine you are the only brave, honest politician, and you do the right thing. Next election you are history. You'll be replaced by someone who will do the wrong thing and dress it up as the right thing because that's the only way he'll been elected. This is what we call Democracy.

What is the point of being a good politician with no power? None. So next time, what do you do?

It's not politicians you should rail against, it's us. The electorate. As a whole, all electorates are as thick as pig sh1t.

[darmstadt]

I thought this was generally agreed to be an improvement on the previous arrangements where we had a self-serving elite who cannot be trusted, operating to a timetable defined by, and limited to, their lifespans.

If you think about it though, we haven't really come much further:

[aussielong]

Again, if Cyprus is booted out of the Euro then the markets breathe a sigh of relief and the USD/CHF short fulfills so I'm cool with that bro

How's your trade working out for you?

[doodab]

This is what we now have by way of government: a self-serving elite who cannot be trusted, operating to a timetable defined by, and limited to, the electoral cycle.

I thought this was generally agreed to be an improvement on the previous arrangements where we had a self-serving elite who cannot be trusted, operating to a timetable defined by, and limited to, their lifespans.

[darmstadt]

Ah, yes, a bag of crisps. Now we all know that crisps are basically fried slices of potato with lots of salt and some sugar, and fried slices of potato contain lots of calories to make us fatty and wobbly, and contain salt, which we need in limited amounts, but in large amounts it can be bad for us, so we should eat crisps and enjoy them, but do so in moderation. Why, then, do we need that patronising tulipe printed on the bottom left corner of the bag to tell us what we already ******* well know? Is it to justify some politician's useless existence? Hmm? Is it to justify paying stupendous amounts of tax to politicians who can't make the books balance because they waste huge amounts of money on throwing all this condescending tulipe at us, every bloody day, on every bloody product we buy?

Yes, HTH

[Mich the Tester]

Nothing new there then. I think you'll find that the majority of politicians, civil servants and similar people in positions of power in business do that on a daily basis. I think every political party manifesto should come with a little blue bag of salt just like crisps used to

Ah, yes, a bag of crisps. Now we all know that crisps are basically fried slices of potato with lots of salt and some sugar, and fried slices of potato contain lots of calories to make us fatty and wobbly, and contain salt, which we need in limited amounts, but in large amounts it can be bad for us, so we should eat crisps and enjoy them, but do so in moderation. Why, then, do we need that patronising tulipe printed on the bottom left corner of the bag to tell us what we already ******* well know? Is it to justify some politician's useless existence? Hmm? Is it to justify paying stupendous amounts of tax to politicians who can't make the books balance because they waste huge amounts of money on throwing all this condescending tulipe at us, every bloody day, on every bloody product we buy?

[darmstadt]

In other words, he's talking out of his arse, which is what he's paid to do.

Nothing new there then. I think you'll find that the majority of politicians, civil servants and similar people in positions of power in business do that on a daily basis. I think every political party manifesto should come with a little blue bag of salt just like crisps used to

[suityou01]

Ah, but it's not a 'template'; the politician who said it was a template says it wasn't a template or even a blueprint and although he said it was, he now says he didn't mean it that way and it isn't. Now OK, you know, and I know that he did say it was a blueprint, or a template, or some such, but now he says it isn't so we should believe that he genuinely believes he didn't mean it when he said it. At least, that's what he believes until he changes his mind, which he may well do.

This 'political' reasoning is quite advanced you know, a bit like Schrödinger's Cat, which might or might not be alive but we don't know. Except that Schrödinger didn't actually kill the cat, because he wasn't such a bastard, whereas the Eurogroup really has screwed Cyprus.

In other words, he's talking out of his arse, which is what he's paid to do.

Anyway, Cypriots will be alright; they're an enterprising lot so they'll probably all leave and go somewhere else in Europe where they might find work. Cue a massive upsurge in immigration.

A Deposit In A Bank Is Not A Riskless Form Of Saving | Zero Hedge

“We all know what to do, we just don’t know how to get re-elected after we have done it.”

And,

“When it becomes serious, you have to lie.”

This is what we now have by way of government: a self-serving elite who cannot be trusted, operating to a timetable defined by, and limited to, the electoral cycle.

Summed it up nicely for me.

[Mich the Tester]

The biggest worry for me is how easily democracy was bypassed. As it was tabled as a banking reform, and not a tax reform. That is the true "template", how to bypass democracy to do what thou wilt.

Ah, but it's not a 'template'; the politician who said it was a template says it wasn't a template or even a blueprint and although he said it was, he now says he didn't mean it that way and it isn't. Now OK, you know, and I know that he did say it was a blueprint, or a template, or some such, but now he says it isn't so we should believe that he genuinely believes he didn't mean it when he said it. At least, that's what he believes until he changes his mind, which he may well do.

This 'political' reasoning is quite advanced you know, a bit like Schrödinger's Cat, which might or might not be alive but we don't know. Except that Schrödinger didn't actually kill the cat, because he wasn't such a bastard, whereas the Eurogroup really has screwed Cyprus.

In other words, he's talking out of his arse, which is what he's paid to do.

Anyway, Cypriots will be alright; they're an enterprising lot so they'll probably all leave and go somewhere else in Europe where they might find work. Cue a massive upsurge in immigration.

[suityou01]

Global currency? If you genuinely believe that you're as mad as AtW!

[Doggy Styles]

Global currency? If you genuinely believe that you're as mad as AtW!