Monday, March 18, 2013

Putin hits out at "dangerous" Cyprus bank deposit levy

As predicted on this blog yesterday the Russians will defiantly have something to say about this Cyprus bank theft.


Original source

(Reuters) - Russian President Vladimir Putin criticized on Monday a levy imposed by the European Union on bank deposits in Cyprus as unfair and setting a dangerous precedent.

"While assessing the proposed additional levy on bank accounts in Cyprus, Putin said that such a decision, should it be made, would be unfair, unprofessional and dangerous," Kremlin spokesman Dmitry Peskov told journalists.

Russian citizens account for the majority of the billions of euros held in Cypriot banks by foreign depositors, and Russian banks are heavily exposed to the island as a favored offshore centre for big business.

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News of the Cypriot Banking Crisis reaches the Bunker

If you think Hitler is angry imagine how pissed Putin and his old FSB buddies are right now.

Satyajit Das on the Cypriot Banking Crisis

Satyajit Das, Sydney based veteran financial consultant discusses the Cypriot banking crisis and the imposition of extraordinary levies on deposit holders. Das is interviewed on the Australian Broadcasting Corporation's (ABC ~ think BBC with an Aussie accent) nightly radio current affairs show "PM". The discussion of Cyprus starts about a third of the way into the show. Listen / download here

Eric Sprott on The Fix

My favourite billionaire, Eric Sprott discusses market manipulation, the London Gold and Silver fixes and the precious metal markets in general. I highly recommend this lengthy interview Listen to the KWN interview here

Truth About Markets

Max and Stacy's last radio broadcast from New York (they are back in London next week). They discuss New York life and compare it to London and Paris. Then as always dissect the market news of the week. Listen or download here

Egon von Greyerz on Gold and the DOW

Egon von Greyez discusses stock markets, predicting the DOW will go down another 90% when priced in Gold (it is already done 60% over the last 5 years) and also the poor world economic situation. Listen to the KWN interview here

Gold and Silver Gap Higher on the Open

Morning all, as expected Gold and Silver have gaped higher on the open of the New York Globex market. It seems the smart players have regained some trust in real money vs. pretend money held in bank accounts that can be stolen by politicians when things get a little tight. It will be interesting to see how trading goes today particularly latter in London and overnight on the New York Comex.

Charts from

Cyprus parliament delays debate on EU bailout

'Delayed' - yeah right. Not someone running and shouting in fear "The Ivans are coming!!!"

From AlJazeeraEnglish