Friday, March 29, 2013

Walls Come Tumbling Down

A Turkish Cypriot banker said today that savers can transfer their money to the TRNC (Turkish Republic of Northern Cyprus) if they are worried about the latest Euro crisis. Of course, the northern part of the island is not recognised by the rest of the world, and is really just a military extension of Turkey anyway. So, you can give your money to Turkey if you wish, and then exchange it later on, sort of hush hush.

Not so hush hush any more is the list revealed today in Greek print-media showing the names of those who received huge bank loans, which were secretly wiped from the Bank of Cyprus file.... Amongst them, former President of Cyprus, and main proponent of the island joining the EU mechanism in the first place, George Vasiliou (allegedly). He's the guy that said last week how Cyprus is safe and will never leave the Eurozone despite the crisis.

Maybe it's time to look at alternatives, no real tangible money at all... just numbers on a screen....Oh, that's what they're already doing apparently.
All a little worrying when computer 'glitches' cause banks to close their doors on a daily basis these days. Of course, being a former bank employee myself, I know it's 'virtually impossible' for this to actually happen when all systems are 'mirrored' outside of their original base. It's called contingency, and ALL BANKS have these in place for this very reason!

What they're actually doing is holding onto peoples money for an extra night or two to cash in on the markets.

I believe the walls will soon come down on the entire system, as the truth is exposed. What they don't mention about the Cyprus crisis, when they talk about the 'dirty Russian money', is that it's not only Russian, it's British, it's American, it's Qatari, (to name just a few) and it's filtered through the legit banks, not only the Cypriot ones, but ALL BANKS on the island...and then sent to places like Iran and Tanzania....and EVERYONE in the industry knows it.


Saturday, March 23, 2013

Dr Who and the Troika

The EU Autons
The EU talking-heads and Troika remind me of Dr Who arch-enemies.... I don't know why, but these characters come to mind when I watch the news lately.

Wolfgang Schäuble...I mean Davros the Dalek leader
The Black Guardian
Also known as the Guardian of Darkness and Chaos. He is not a man but the avatar of universal chaos, corruption and entropy.
The Cybermen
Cybermen were once a race of beings nearly identical to humans. “There is nothing to fear. We will eliminate your fear. You belong to us. You will be like us. Resistance is useless.”

The first pic above: “Auton” is the name for the plastic warriors that serve the Nestene race. Nestenes are telepathic creatures that can take control of plastic and manipulate it to their will.

Thursday, March 21, 2013

Turkey Shoot?

It's weird to see Cyprus so prominent in the news, weird but inevitable. The possible domino effect that could take place soon has got me wondering about the kind of country I will find if I decide to return one day.
I've seen a lot of the greed and corruption in the country, but for such a small island, it's unavoidable when you are working in the financial services.
The Co-op bank, not to mention Liaki Bank, which may collapse on Monday, were 'advised' not to buy Greek bonds, but they went ahead anyway. The Liaki Bank board had decided previously to sell a tonne of shares to the Greeks and ultimately passed control into Greek hands. The new CEO from this 'merger' with Greece's Marfin Financial (which started it all) jumped ship when it was discovered he had less than honourable intentions for the future of the Cypriot bank. I'm talking 2006.
I have no idea of the shenanigans of the Bank of Cyprus.
The island should never have adopted the Euro in 2004, but everyone knew it was done as a protection measure, a geo-political shield if you like. But it's come at a higher price than they could have imagined. Watching the events in Greece unfold, the managers I dealt with sipped their espresso with an unsteady wrist movement, and a few silk ties were ruined.
You can't help but wonder if it was set up this way. Now there are vast deposits of gas, and maybe oil, everyone wants a piece of this action, so the game changed again. The perpetual Cyprus problem seems to have shifted. When the EU and Russia cut Cyprus loose, what will it be, a Turkey shoot?
The Finance Minster Michalis Sarris was 'thrown out' back in 2008, and many in the banking community thought it was a mistake. Quite surreal to see him turn up in Moscow looking for help on behalf of the country in 2013! I guess the newly elected president has something to do with it.
Again, let's not forget some of the other things that precluded this Cyprus meltdown. I wrote about it in a few previous posts...
Here's another link if you are interested in reading some more up-to-date and indepth commentary on the whole Cyprus financial mess ....

Saturday, March 16, 2013

With Thieves Like Us....Who Needs Frenemies?

Updates will be added.

Well the game is finally up, destruction of Cyprus nigh on complete. All it took was an ‘accidental explosion’ destroying the country’s biggest power-plant, apparently by a ‘brush fire’ back in July 2011, a few Trojan Greek bonds, and a new president with an infamous Count Dracula ‘haircut’.
Adding a nice slap-on-the-wrist to Russia for not supporting the annihilation of Syria… the guarantor powers of the U.K. U.S.A. and Turkey must be laughing under their G8 cue cards.

I find it quite funny how Cyprus is usually forgotten in the news, especially by the BBC. There are all sorts of newsworthy items, like the gas and oil deposit revelations, or a new president being elected after a two-week 50-50 vote debacle, but these things are nothing now.
Merkel and her ilk cause havoc for a nation, and it's all over the news headlines. Not that anyone cares about the Cypriots, they care about their Euros in the bank, and their bonuses, their laundered money, and their tax haven being destroyed. What a joke it all is!
Of course, Cyprus must toe the line, what with its massive deposits of natural gas and maybe oil, going to be shared among undesirables in a few years time. The island having major strategic significance in the region, especially for returning soldiers from Afghanistan, and its proximity to all Mid-East so-called ‘trouble spots’, and not forgetting the short flight time to our friends in Qatar and Saudi Arabia.
It's the Carnival season in Cyprus, and Lent Monday (this year 18th March), celebrated as 'Green' or 'Clean' Monday, a Bank Holiday, how convenient. The bailout conditions will surely herald the start of some big changes, a big clear out for the country. How will others in the EU react?
 18/03/13  Update. According to Journo Tim Marshall, the Russians have offered to bailout BoC in exchange for 'exclusive control of the Cypriot gas reserves'! Is this true I wonder?

19/03/13  Update. Trading suspended, banks still closed...I laugh at the irony of this. Being a former employee within the financial sector and quite aware, like most, that buying Greek bonds was like signing a death warrant for the economy, the rich list in Cyprus must grin and bear it now. I hesitate to say it, but they saw this coming and did NOTHING.

I notice no mention of the money laundering, insider dealing, the dummy accounts, 'the old-boys' network, the scheming hedge fund managers, and the corruption that is the life-blood of Cyprus... Why should the ordinary man in the street have to pay for their crimes?

Saturday, March 9, 2013

One... Two... Many Lone Gunmen?

Greg Rodriguez
John Noveske

Keith Ratliff