Hungary, Greece, Cyprus to Restart Food Trade With Russia Despite Sanctions

http://sputniknews.com/russia/20150420/1021116330.html

Cyprus: Despite 16 months of capital controls, banks still pitifully capitalized

Bank solvency and geographic diversification are the key buzzwords here.

http://www.sovereignman.com/finance/cyprus-despite-16-months-of-capital-controls-banks-still-pitifully-capitalized-14686/

An invaluable lesson for U.S. Citizens from the bank confiscation in Cyprus

http://www.sovereignman.com/finance/invaluable-lesson-bank-confiscation-cyprus-13858/

Caveat Depositor

http://www.sprott.com/markets-at-a-glance/caveat-depositor/

“If there is a risk in a bank, our first question should be: ‘Ok, what are you the bank going to do about that? What can you do to recapitalise yourself?’ If the bank can’t do it, then we’ll talk to the shareholders and the bondholders. We’ll ask them to contribute in recapitalising the bank. And if necessary the uninsured deposit holders: ‘What can you do in order to save your own banks?’” – Jeroen Dijsselbloem, March 26, 2013 ¹

A deal has just been struck with Cyprus. However, it was not the deal that Cyprus saw other countries receive. This was not the deal received by Greece, Italy and Spain. There were no bailed out banks in the aftermath. There was no transfer of risk from over-levered banks to the taxpayers. The risk was pushed back onto the banks. Their equity was wiped out. Their bondholders were wiped out. Their uninsured depositors saw their accounts raided for additional liquidity. It wasn’t just that the rules of the game had changed, the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed. Going forward, this is expected to be the “template” for dealing with risky, over-levered banks and the countries which support them.

EU makes bank creditors bear losses as Cyprus bail-in becomes blue-print for rescues

This answers any doubts as to whether depositors will be on the hook when their bank collapses.  Taxpayers funded the last round of bank bailouts.  Depositors will be next.

http://www.telegraph.co.uk/finance/financialcrisis/10145355/EU-makes-bank-creditors-bear-losses-as-Cyprus-bail-in-becomes-blue-print-for-rescues.html

Sound Like Cyprus? The SEC Proposed This Strict New Rule on Money Market Account Withdrawals

Is your money market account safe?  They are literally proposing laws to "break the buck."  You've been warned.

http://www.theblaze.com/stories/2013/06/10/sound-like-cyprus-the-sec-proposed-this-strict-new-rule-on-money-market-account-withdrawals/


http://finance.yahoo.com/news/sec-unveils-middle-road-reforms-140801516.html

The SEC's plan calls for two alternative proposals that it said could be adopted alone or in combination.

The first piece would require prime funds used by institutional investors to transition from a stable, $1 per share, to a floating net asset value (NAV).

That reform is a direct response to what happened in 2008 when the Reserve Primary Fund, one of the largest money funds, suffered losses on Lehman Brothers debt and could not maintain its $1 per share price, known as "breaking the buck."

That ignited a run by investors across the money fund industry, cutting off a major source of overnight funding for many corporations.

The SEC said that retail and government funds, which are not considered to be at the same risk for runs, would not have to move to a floating NAV. Retail funds are defined as those that limit shareholder redemptions to $1 million per day.

The second proposal would give fund boards for institutional and retail funds the authority to impose so-called "liquidity fees and redemption gates" during times of stress.

EU draft bank rescue law would not shield big deposits

All the skeptics insisted the Cyprus "bail-in" of banks by depositors losing out was a one-off event.  The naysayers are naive.  The Cyprus bail-in is the blueprint for the rest of the banking world.

http://www.reuters.com/article/2013/05/20/us-eu-banks-idUSBRE94J0AC20130520

Bail-out Is Out, Bail-in Is In: Time for Some Publicly Owned Banks

http://www.huffingtonpost.com/ellen-brown/bailout-is-out-bailin-is-_b_3178702.html

There will be more wealth confiscation, without a doubt

http://www.telegraph.co.uk/finance/personalfinance/investing/10027101/There-will-be-more-wealth-confiscation-without-a-doubt-Saxo-Banks-Lars-Christensen.html

Sinclair - The US Will Be Cyprused & We Will See $50,000 Gold

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/19_Sinclair_-_The_US_Will_Be_Cyprused_%26_We_Will_See_%2450%2C000_Gold.html

Mario Draghi Orders Cyprus To Sell Gold To Cover Bailout "Shortfall"

What's the running joke again?  "How do you know when a central banker is lying?  When he opens his mouth."

http://www.zerohedge.com/news/2013-04-12/mario-draghi-orders-cyprus-sell-gold-cover-bailout-shortfall

Here We Go: Cyprus To Sell €400 Million In Gold, About 75% Of Its Total Holdings, To Finance Part Of Its Bailout

http://www.zerohedge.com/news/2013-04-10/here-we-go-cyprus-sell-%E2%82%AC400-million-gold-finance-part-its-bailout

Giving Cyprus (and the world) ideas about alternatives in money

http://www.gata.org/node/12422

Danger in bank accounts

http://www.goldmoney.com/gold-research/alasdair-macleod/danger-in-bank-accounts.html?gmrefcode=gata

Back At The Gates

http://www.zerohedge.com/news/2013-04-03/back-gates

The Great Cyprus Bank Robbery

Ron Paul may be unelectable for US President (for reasons, real and imagined), but he is spot on with his views on fractional reserve banking and paper currencies.

http://the-free-foundation.org/tst4-1-2013.html

Cyprus-Style “Bail-Ins” Are Proposed In The New 2013 Canadian Government Budget!

http://www.worldviewweekend.com/news/article/cyprus-style-%E2%80%9Cbail-ins%E2%80%9D-are-proposed-new-2013-canadian-government-budget

Coming Financial Collapse Moved Up A Notch Post Cyprus

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/4/2_Coming_Financial_Collapse_Moved_Up_A_Notch_Post_Cyprus.html

Russia Won’t Bail Out Cyprus Savers Facing Deposit Losses

So Russia is now an anti-bank bailout capitalist country, while the US, Europe, and Japan continue to socialize losses in their insolvent banking industries?  The world is upside down...

http://www.bloomberg.com/news/print/2013-04-01/russia-won-t-bail-out-cyprus-savers-facing-deposit-losses.html

List Released With 132 Names Who Pulled Cyprus Deposits Ahead Of "Confiscation Day"

http://www.zerohedge.com/news/2013-04-01/list-released-132-names-who-pulled-cyprus-deposits-ahead-confiscation-day