Cyprus votes to reject bailout. Now what?

Here is the deal. Banks everywhere are broke because many of the loans they have made can't be collected. So those in power (bankers and politicians) are trying to stick to losses on anyone they can except for themselves. Their choices are (1)bankruptcy filings for banks and let the owners take a 100% loss and just pay depositors what is left, sticking them will some loss too for their gullibility in keeping money in corrupt organizations;(2)sticking it to taxpayers by having them bail out banks which is what they have been doing to date to prevent the bank owners from taking the loss for their stupidity; or(3)pulling a stunt like they are trying in Cyprus where they steal from depositors to prevent the bank owners from taking the loss for their stupidity.

It isn't a matter of saving the banks. It is a matter of who takes the losses, and given that the bankers are the ones who pull the strings on politicians and governments, it will take a revolution to keep them from sticking it to the public in some way, shape, or form.

The damage has already been done. The second those banks open, the flood of money out of Cyprus will epic. People already anticipate this will happen and just the idea of it means people will try and be first in line at the banks before they run dry.

seriously though.... what in the fuck did they think would happen.
People are too stupid on average to understand inflation overtime is theft... but an outright %10 highway robbery of peoples savings accounts?

Either "they" are INSANE or this is a staged crisis.
I'm guessing this was planned but im not sure why just yet.

They will take it anyway.....

Is already prepared to absorb the whole bailout for some natural resources or to even buy banks there.

Greece can start making her own money.

No?

Then banks will re-open and all insured deposits will be withdrawn which will collapse the bank. Uninsured deposits will likely be totally wiped out. This would mean the EU just took a large portion of ex-KGB Russian Oligarch money. About the dumbest and least safe things possible.

The Cyprus finance minister is now headed to Russia:

http://www.sbs.com.au/news/article/1748342/Cyprus-finance-mi...

Statements by the head of the Cyprus Parliament:
http://www.telegraph.co.uk/finance/debt-crisis-live/9939296/...

What German government is doing wrong is putting German taxpayers and currency holders at risk by bailing them out at all to save the people who took the risk from the consequences. It's the Germans who should be really upset.

What people are actually upset about is rather confused. If anyone is going to lend them more money they certainly should ask for assurances. Asset forfeiture is not the way to go about it though.

Cyprus should default forthwith. If they cannot stop spending then they need to inflate or float sovereign bonds at market interest rates. Private investors should take risks with their own capital.

The Cypriots can't blame Germany or anyone else.

not with the weapon of force, but with money,” said a pensioner, Dimitris, 67, who would give only his first name.

The rejection drew loud cheers and cries of joy from a crowd of more than 500 protesters who had gathered in front of Parliament since late afternoon, carrying banners denouncing what they said was a confiscation of their private funds.

Some wielded unflattering posters of Chancellor Angela Merkel of Germany, a day after a demonstrator breached security at the German Embassy and climbed to the roof, throwing down the German flag."

http://www.nytimes.com/2013/03/20/business/global/cyprus-rej...

.

http://www.youtube.com/watch?feature=player_embedded&v=hedfX...!

Published on Mar 18, 2013
Saxo Bank CEO Lars Seier Christensen says a Cyprus deal could signal the end of the eurozone. For more CNN videos, visit our site at http://www.cnn.com/video/

I would guess;

Run on Banks
Banking Collapse
Cyprus leaves the EU
Starts using own currency
Rebuilds

1. Never vote again for any reason
2. Start your own banking market (underground if necessary)

[Hearing the sound of bankers printing more money.]
ECB Responds To Cyprus, Says "Will Provide Liquidity To Cyprus Within Existing Rules"
3-19-13
We were waiting for the ECB response, and seconds ago we got it, when the ECB uttered the magic words, saying it would provide "liquidity within existing rules." What this means is unclear, but the algos loved it and sent the EURUSD up over 50 pips higher in milliseconds.
http://www.zerohedge.com/news/2013-03-19/ecb-responds-cyprus...

and Ron Paul.