Bank Run

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Daily Digest 3/18 - 'No Cause For Panic' In Cyprus, Disease Threatens Aquaculture

Monday, March 18, 2013, 10:03 AM
  • Wakeup Call From Cyprus To The Rest Of The World
  • With Regard to the Cyprus Bank Deposit Confiscations: Is Nothing Sacred?
  • No Cause For Panic
  • Wall Street: $474 Million, Detroit: $0
  • Tax Credits or Spending? Labels, but in Congress, Fighting Words
  • Federal government to announce plan to increase tanker safety
  • MIT Develops Meltdown-Proof, Nuclear Waste-Eating Reactor
  • Disease threatens aquaculture in developing world
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Tracking the Impact of Cyprus' Wealth Confiscation

Tracking the Impact of Cyprus' Wealth Confiscation

A thread of breaking headlines tracking the unfolding banking crisis in Cyprus

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Cyprus Bank Heist: A True Game-Changer

Near-term risks include domino-like bank runs & capital cont
Monday, March 18, 2013, 12:29 AM

This weekend on 3/16/13, under pressure from IMF bankers and a push from German politicians, a Cyprus bailout deal was approved that would take the bulk of the bailout fund from the private bank accounts of Cyprus bank depositors.  Yes, you read that right; savers were determined to be the logical target to bail out the profligate.

The reaction from depositors, predictably, was intensely negative.  They are furious and shocked.

This is a complete game-changer.  It means that even money in the bank is not safe.  It implies that money in pension and money market accounts is not safe, either.  It means that rule of laws and contracts really don't matter.  Of course, MF Global taught us that.  It finally means that trust is no longer a part of the equation...  » Read more

Daily Digest

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Daily Digest 3/17 - Bank Runs In Cyprus, The Facts On Fracking

Sunday, March 17, 2013, 11:30 AM
  • Shock in Cyprus as savers face bailout levy
  • Why Cyprus' Rescue Matters To Us
  • Europe Does It Again: Cyprus Depositor Haircut "Bailout" Turns Into Saver "Panic", Frozen Assets, Bank Runs, Broken ATMs
  • Facing Bailout Tax, Cypriots Try to Get Cash Out of Banks
  • Financial Pearl Harbor, Gold to hit $10,000 per ounce in 21st century?
  • Financialization of Justice: SEC Settles Insider Trading Case With SAC Capital For $600 Million
  • A ‘massive intrusion’: Promise and peril in Trans Mountain pipeline ambitions through B.C. mainland
  • North Dakota's Oil Boom
  • The Facts On Fracking
  • The Dangers Of Fracking
  • Obama Will Use Nixon-Era Law to Fight Climate Change
  • Great Lakes Experiencing 'New Stresses'