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More on Cyprus: EU finance ministers approve deal. Bloomberg says deposits above €100K at...

More on Cyprus: EU finance ministers approve deal. Bloomberg says deposits above €100K at Bank of Cyprus could incur losses up to 40% while deposits above the €100K threshold at Cyprus Popular Bank (Laiki) may be wiped out entirely. Deal may not need to be approved by the Cypriot parliament.
Comments (107)
  • mp0125
    , contributor
    Comments (16) | Send Message
     
    Sounds like the real story is not out yet.
    24 Mar 2013, 09:36 PM Reply Like
  • yliu54
    , contributor
    Comments (156) | Send Message
     
    Ouch ouch ouch! Entirely!
    24 Mar 2013, 09:47 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    Not a good time to be a Cypriot.
    24 Mar 2013, 09:49 PM Reply Like
  • dividend_growth
    , contributor
    Comments (2877) | Send Message
     
    NO.

     

    On the contrary, this deal is a great improvement over the previous for Cypriots, but a much worse one for money-laundering Russkies.
    24 Mar 2013, 09:54 PM Reply Like
  • Aristiphones
    , contributor
    Comments (1327) | Send Message
     
    unemployment will soar "but their deposits are safe." now we really do have a motive for a Russian Billionaire "calling it quits." this deal was "telegraphed" by him more than anyone. don't mess with the euro-group. these folks are the real deal. and i would recommend to BOTH Putin and Obama "to keep your emotions in check here." the Middle East could blow at any time "and that's exactly the message of this action." EXCEPTIONALLY well played. "market opens Monday" folks. Back to work!
    24 Mar 2013, 11:08 PM Reply Like
  • NF7
    , contributor
    Comments (17) | Send Message
     
    With this deal banking sector is estimated to shrug somewhere up to 50%. That's shortterm +1.5% unemployent and -4% gdp. Longterm - even worse.
    Great improvement, considering there were some chances to save the banking sector before they decided to take away from wealthy russians.
    25 Mar 2013, 03:23 AM Reply Like
  • David Schneider
    , contributor
    Comments (252) | Send Message
     
    I doubt this will pass. It will cause an uproar
    24 Mar 2013, 09:50 PM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    It doesn't require passage. It's done.
    24 Mar 2013, 11:08 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    DAVID

     

    The sheeple have no idea what the end result is going to be...This can't end well..Sorry folks

     

    Anyone think this is good news needs a reality check!!
    25 Mar 2013, 02:30 PM Reply Like
  • tough times
    , contributor
    Comments (57) | Send Message
     
    how can this deal be passed/approved if it involves such high haircut? Ouch...it hurts to read this !!
    Will this troika have the courage to take same decision in Greece,Spain,Italy? Cyprus is small nation hence, stringent deal...
    while lot of good money is thrown after bad in other EU nations.. Step-brotherly treatment ? Huh..
    24 Mar 2013, 09:57 PM Reply Like
  • onewhatsbeendonebefore
    , contributor
    Comments (145) | Send Message
     
    The EU has today announced that UK pays 10 billion more into the EZ fund for obvious reasons the EU doesnt have the agreed 9 billion to lend Cyprus.

     

    Time for UK to quit the EU for ever. As both Greece and Cyprus should have done.
    27 Mar 2013, 10:30 AM Reply Like
  • dieuwer
    , contributor
    Comments (2226) | Send Message
     
    Everywhere the Troika set foot ashore, economic collapse soon follows. Cyprus now can expect - just like Spain, Italy and Greece - massive unemployment and riots.
    24 Mar 2013, 10:01 PM Reply Like
  • Rummeljordan
    , contributor
    Comments (477) | Send Message
     
    This is such a scary attach on capitalism.
    24 Mar 2013, 10:13 PM Reply Like
  • Tack
    , contributor
    Comments (12442) | Send Message
     
    I can barely contain myself any longer, reading much of the commentary on Cyprus in many threads.

     

    No, this isn't an attack on capitalism. It's capitalism at work, if anything, at least partially. In fact, in a purely capitalistic environment, the Cyprus banks, shareholders, bond holders and depositors would all be wiped out entirely. It's only because of the guarantees and intervention of government, at all, that some depositors are preserved.

     

    Reading numerous comments in many Cyrpus threads, one gets the clear impression that many people think that bank deposits are some kind of 100% risk free capital with a guaranteed return on investment, to boot. Well, that's not what it is at all and never has been. Bank deposits, while assets of the depositors, are loans to the bank and liabilities of the banks.

     

    When one makes a bank deposit or buys a CD and shops for the best rate, they're making a loan to the bank, based on its promise to pay the money back with some rate of return. If one seeks high rates, they can assume there is a risk involved, be it solvency of time required to remain on deposit. It would bear risk from the very first dollar, if not for various government programs worldwide to guarantee deposits. It's no different than someone making a loan to a corporation or buying its bonds; there's always risk of nonperformance. Bank are just companies, too, that lend money.

     

    In particular, in Cyprus, the banks were promoting outrageous interest rates that bore no semblance to rates elsewhere. There was implicit risk in seeking these, no different than folks, who get suckered into Ponzi schemes that promise them 10% per month, only to see all their money disappear. Everybody's money should have disappeared in Cyprus banks, too, but out of the goodness of its heart the ECB is sparing some folks, deservedly or not.

     

    It's also incredibly ironic that many of the same folks, who jump from thread to thread excoriating Bernanke and the Fed for "stealing" from taxpayers and savers to save the banks and financial system, now bash the ECB because they wish to have the very people, who assumed the risks of absurd promised returns in Cyprus, bear some of the cost of their own folly. If these critics wish to be consistent, then, they should wish, not only that Bernanke and the Fed didn't act, but that, along with bank shareholders and bond holders, vast swaths of U.S. depositors should have lost all their money, too, for being foolhardy enough to place their money at the disposal of the shaky banks.

     

    So, decide. Should society (i.e., government) step in to ameliorate crises, like these, or should everybody --shareholders, bond holders and depositors -- lose everything? It's hypocritical to argue both sides at the same time.
    24 Mar 2013, 11:11 PM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    So you believe that folks making bank deposits should view themselves as "investors" in the bank's debt. right? OK.
    So- what if grandma is not interested in investing in the bank's debt? Where would you suggest she should go to store her money?
    24 Mar 2013, 11:21 PM Reply Like
  • Tack
    , contributor
    Comments (12442) | Send Message
     
    Mattress, perhaps?

     

    In all seriousness, deposits in banks would be at risk beginning at dollar one, if not for governmental guarantees. In fact, such guarantees are relatively new-fangled. In the old days (see 1930's) nobody's funds were protected. They were at risk, like any other loan. And, that's what a bank deposit is, a loan to the bank, and as it appears on their balance sheet.
    24 Mar 2013, 11:24 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    TACK

     

    Do you actually believe what you just posted?

     

    This is just outright THEFT, no matter how you spin it..Sorry. No one ever thought their money wasn't safe being deposited in a bank. No one!!

     

    Now add this little tidbit as well. The wheels are starting to fall off, and things are getting more interesting for sure..

     

    This may change things!!

     

    "Based on a letter to clients over the weekend, it appears Dutch megabank ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery."

     

    Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals."

     

    tinyurl.com/camf8f5

     

    Lets see where gold goes now..
    24 Mar 2013, 11:25 PM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    I am trying to point out that there is a lot of confusion about what "money" is. If , as you say, bank depositors are "investors" in debt, then clearly bank deposits are not "money" . In that event, it would seem to me that a very basic and fundamental obligation of the govt and the monetary authorities is not being met - the obligation to provide a form of money that the population can use to run their lives.
    We need a clear separation between "Money" and "Investments". The financial system has had enough fun with confusing everybody with the FDIC ponzi scheme and conflating money and investment. This needs to end.
    We need a different kind of bank. that only invests in very short term T-Bills. We can then all agree that THOSE deposits are indeed "money".
    24 Mar 2013, 11:31 PM Reply Like
  • Tack
    , contributor
    Comments (12442) | Send Message
     
    RS:

     

    What makes you think for a moment that there's an equivalence between money and bank deposits? Yes, money is a medium of exchange, and when you possess it, your're free to do with it, as you please, including burn it, spend it, bury it in the back yard, send it to grandma, invest in stocks or bonds, or give it to a bank for them to use in return for a promise to pay you some interest for the privilege.

     

    When did the notion start that private banks are some other-worldly institutions, divorced from the corporate world and immune from risks or problems? Bank deposits are "safe" only up to a certain government guarantee limit, and fully dependent on the sovereignty of such nation, only because the governments have voluntarily chosen to assume such obligation. Beyond that, there's nothing that makes a bank deposit inviolate "money" or otherwise sacrosanct.

     

    Lots of "money" has been lost by being placed, by depositors, in the hands of banks. It's always been that way and it's not about to change anytime soon.
    24 Mar 2013, 11:40 PM Reply Like
  • Zeus2012
    , contributor
    Comments (690) | Send Message
     
    How is this theft? They honored the insured deposits, those below 100k. How's is this any different than someone who buys a high yield debt with coupon of 10% only to watch the issuing company go out of business.

     

    Tack is right. This is capitalism.

     

    As to the "gradma", she could have opened an account at a German bank earning far lower interest rates.
    24 Mar 2013, 11:42 PM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    If a bank deposit is a risky investment in shaky bank debt - then where the hell are the disclosure documents that should be handed to prospective depositors? If you want a complete wild west free for all - I say bring it on. But first get rid of all the useless "regulators" and such feeding on the taxpayer teat. And have the president make an announcement on national TV that bank depositors are on their own to analyze credit risks etc. That would be the honest way to do it.
    24 Mar 2013, 11:49 PM Reply Like
  • Ghosts of Kariela
    , contributor
    Comments (152) | Send Message
     
    Ummm you know that FDIC sticker you see on most bank's doors, I think that answers your question. That being said it is perception that matters, not reality.
    24 Mar 2013, 11:53 PM Reply Like
  • Zeus2012
    , contributor
    Comments (690) | Send Message
     
    Uninsured deposits are basically the bank's iou without the guarantee from the sovereign government. It's no different than if you bought the senior unsecured debt issued by the bank's parent company.

     

    Why would the president need to make any announcement on something that's pretty obviously to everyone.
    24 Mar 2013, 11:53 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    ZEUS

     

    You try and pull this stunt in the States and you would have mass riots..If you think otherwise you are very foolish..

     

    For years banks were always considered a safe haven..You just took that option away..Nice try on the spin though..

     

    Theft is theft !!! Did you ever wonder why gold spiked up this week? Think Cyprus had anything to do with it? NO ONE likes this one bit..
    24 Mar 2013, 11:57 PM Reply Like
  • Zeus2012
    , contributor
    Comments (690) | Send Message
     
    So if a corporation has $10 million parked in an uninsured deposit versus buying $10 million of commercial paper issued by the same bank, that $10 million uninsured deposit should be "saved" by the government but not the $10 million commercial paper in case the bank goes under?

     

    Interesting logic.
    25 Mar 2013, 12:00 AM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    You do know that it is illegal to sell securities without a prospectus and proper risk disclosures etc - all vetted by the SEC. Do banks provide such a document to "investors" in their deposits?
    In any event , I never understood why anyone would have deposits in excess of insured limits when they could easily buy T-Bills and be done with it. T-Bills held in custody by the US Treasury department.
    25 Mar 2013, 12:04 AM Reply Like
  • Tack
    , contributor
    Comments (12442) | Send Message
     
    UN:

     

    It might prove useful to check your facts before making windy assertions. Gold went nowhere last week, and YTD it's down 4.7%:

     

    http://yhoo.it/UJwQmD;range=5d;compare=;ind...
    25 Mar 2013, 12:05 AM Reply Like
  • Zeus2012
    , contributor
    Comments (690) | Send Message
     
    Deposits are exempt from SEC registration.
    25 Mar 2013, 12:31 AM Reply Like
  • raykrv6a
    , contributor
    Comments (2318) | Send Message
     
    Every week banks are shutdown and another bank takes over he deposits up to the FDIC limit. Yes, you can lose money in US Banks if you're over the FDIC insured limit. Never go above the FDIC limit in a bank. Spread your deposits.
    25 Mar 2013, 01:29 AM Reply Like
  • davidbdc
    , contributor
    Comments (3139) | Send Message
     
    Tack is correct. As long as the bondholders and shareholders are wiped out before the depositors then thats exactly what should take place. The government should then step in to insure the 100K euros that they promised.

     

    Taking any amount of the insured guarantee would be theft.

     

    What this should be is a warning to folks that they have to take responsibility for their own finances and pay attention to what is going on with their funds.
    25 Mar 2013, 03:45 AM Reply Like
  • justaminute
    , contributor
    Comments (581) | Send Message
     
    You can't burn it legally.
    25 Mar 2013, 08:07 AM Reply Like
  • kmi
    , contributor
    Comments (3967) | Send Message
     
    Tack said:

     

    "they're making a loan to the bank"

     

    I disagree completely. You are not lending the bank money, what you are doing is buying access to the banks ability to transfer liquidity.

     

    However, I agree with the spirit of your comment in that depositors set capital at risk against the guarantee that the bank can safely store and/or move one's capital. Should the bank misconduct its business, and fail, then one loses access to that vault and the assets placed within.

     

    The 'guarantees' on deposits are another beast entirely.
    25 Mar 2013, 09:22 AM Reply Like
  • Tack
    , contributor
    Comments (12442) | Send Message
     
    kmi:

     

    A cash deposit is very much a direct loan to the bank, and it appears, as such, on their balance sheet. Your comment seems to suggest that it's some kind "custodial" relationship, and the bank "holds" your money, but gives you something in return, a service.

     

    Yes, they do make it easy to transfer liquidity, and that's part of the "return' they gives you for using your money, but it's very much been transferred to their direct use, i.e., "loaned," with all attendant risks.
    25 Mar 2013, 09:32 AM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    TACK

     

    Gold has done just fine for me for 12 years running..I can take a consolidation period for it and silver..

     

    Tell me how a passive investor did with the S&P 500 over that period??

     

    You might trade daily, and done well. Your the exception ...Most people who work use a different method..I am happy right now..

     

    We will see one day who made the smarter move..
    25 Mar 2013, 02:34 PM Reply Like
  • onewhatsbeendonebefore
    , contributor
    Comments (145) | Send Message
     
    Absolute bollox the banks never warn you if their low rate CDs or savings accounts are at risk never that means they are selling their services like JPM and its up to us to stop this vast mis selling and get our money out of the banks entirely. It is my fervent hope that all in Cyprus shun their politically destructive banks both in Europe and elsewhere Cypriots had the ability to remove their cash as ALL those in government have and are doing right now that's why their premier 's wife flies to switzerland every day.
    27 Mar 2013, 10:35 AM Reply Like
  • onewhatsbeendonebefore
    , contributor
    Comments (145) | Send Message
     
    Nicely put she along with everyone else in my opinion of course should remove her money from the banks Then the banks would realise that they are our servants and not the reverse.
    27 Mar 2013, 10:37 AM Reply Like
  • onewhatsbeendonebefore
    , contributor
    Comments (145) | Send Message
     
    But we are not in the 1930s are we?

     

    Banks are now supposedly controlled and still they use OUR money to bet against their own investors deposits. JPM DATEK and other brokers do it all the time but 15 years ago DATEK got fined 3 times for insider investing using clients money against their own clients $330,000
    While making billions.
    27 Mar 2013, 10:40 AM Reply Like
  • onewhatsbeendonebefore
    , contributor
    Comments (145) | Send Message
     
    You will see on every currency note A promise to pay Each note is in fact a bill of exchange seeded with the full legal authority of the government It is not an investment anymore than your car loan or mortgage is it is a liquid asset payable ON DEMAND.

     

    When the Cypriot people wake up to having been victims of the biggest bank heist in history the chips will fall where they were intended to fall this is a monetary WAR and I being an ex banker well out of it before 1984 for one am out of it so should all who value their life savings NOT GOLD NOT SILVER just easily traded CASH after all CASH IS KING even checks can be cancelled by banks and governments as we are watching in Cyprus.

     

    The cypriot people like you or I have been totally betrayed whose to say that we wont be next? No one .
    27 Mar 2013, 10:47 AM Reply Like
  • TheShat
    , contributor
    Comments (15) | Send Message
     
    I know something like that would never happen here. But could it? With savings rates being completely non-existent, will any of this impact how much folks keep in the banks? I have a small emergency account, and am thinking it might not be such a bad idea to take about 50% of store it in my well-secured gun safe (in a combination of cash and gold). Will other Americans follow suit? And if so, how would this affect financial equities?
    24 Mar 2013, 10:36 PM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    Why hold cash? Why not just hold gold and guns?
    24 Mar 2013, 10:56 PM Reply Like
  • Terry330
    , contributor
    Comments (866) | Send Message
     
    Guns are overpriced, by summer they will be down 20%.
    24 Mar 2013, 11:07 PM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    I see this "guns and gold " comment a lot. Someone please explain to me the exact circumstances in which they would deploy their guns . ie. You need to buy eggs and milk . You have guns and gold. What are you planning to do?
    24 Mar 2013, 11:38 PM Reply Like
  • Ghosts of Kariela
    , contributor
    Comments (152) | Send Message
     
    You use the guns to rob the milk delivery man and raid the chicken coop for eggs. You then use the gold bars to build a table, as you spent all your dollars on gold and can't buy a table to eat food on. :/
    24 Mar 2013, 11:46 PM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    You shave off a little gold dust and buy milk and eggs. The gun is to prevent the evil liberal govt from stealing the gold, as well as to defend against zombies in any apocalyptic situation.
    24 Mar 2013, 11:46 PM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    Not specific enough! And do you really plan on taking on the homeland security domestic military forces with whatever pitiful weaponry you have assembled? Frankly, if you really expect a planet of the apes scenario-it would be a lot smarter to retire to some village in south america or asia and ride it out in style getting massages and sipping the local cocktails.
    24 Mar 2013, 11:57 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    RS

     

    You worry about the neighbors who know you have food and would like to take some from you....Plus we do like the 2ND amendment as well..

     

    You lose the 2nd amendment you can kiss the 1st amendment goodbye as well..No one is going door to door looking for your gold..
    How do they even know you have any??

     

    But lets see how Cyprus plays out as we all know this is only the trial run to take notes on anyway!!
    25 Mar 2013, 12:08 AM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    The 2nd amendment was about flint-lock rifles and state militias - fom a different era.
    Just for the record, I do not foresee a "planet of the apes" scenario in this country. On the contrary I think we may be on the threshold of a great economic boom. And a lot of bright energetic 25 yr olds will make fortunes. One thing that is clear from history is - steel magnates, oil magnates, consumer goods magnates, computer tech geniuses, and a few investors made out pretty well. No cases of doom and gloom, hide in a cave expecting the apocalpse types doing very well - and this apocalypse theme has been persistent throughout time - its not new. None of those guys ever did well.
    25 Mar 2013, 12:36 AM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    RS

     

    Point out where the 2ND amendment mentions any type of weapon?

     

    "Amendment II

     

    A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed."

     

    Still looking for a weapon mentioned??

     

    Did BO'S plan pass through Congress? Feinstein will lose again..Once you lie and say an AR-15 is an assault rifle you lost all credibility..

     

    Weapons have nothing to do with making money in the market either..But lets see what happens in Cyprus..

     

    Were on the brink of something, we differ on what that will be!! Gold going UP for over 10 years should be a warning sign, Germany needing 7 years to get their gold back doesn't concern you? Okey dokey..

     

    Most 25 yerar olds i know are still looking for work in their field.Or just work period..Doubt that, look at the loans due from college kids and how many are delinquent..Yup were on the verge of something for sure..

     

    Or this..".Based on a letter to clients over the weekend, it appears Dutch megabank ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery."

     

    Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals." tinyurl.com/camf8f5

     

    Yup, things look real peachy right now..GEEZ..
    25 Mar 2013, 12:43 AM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    Yeah - its been a pretty wild financial climate and I like and own gold, as global govt debt monetization seems to be accelerating. i am not a pollyanna. But, I try to remind myself that this is still a great country in many ways and there is a lot of good stuff happening. It is not necesassrily providing jobs for all - but that is caused by the 2 major tectonic shifts that have happened over the past 20 years or so - technology is obsoleting many jobs, and a couple of billion asians entered the world economic scene after decades of socialism and colonialism.
    25 Mar 2013, 12:57 AM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    RS

     

    I live in a small area and we have 4 schools closing because of lack of aid. That scares the dickens out of me. More teachers laid off when we should actually be adding them..

     

    I hope i am wrong, i hope we can turn it around. Someone just needs to explain to me HOW and it has to make sense..
    25 Mar 2013, 01:02 AM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    Unsure
    There are a lot of things that are scaring the dickens out of me. But I refuse to become catatonic or hide in my basement! We are in a very disruptive time . Some will make fortunes. many will suffer. But , if you were in Britain during WW2 and being bombed every day - I think that was worse! Or the US during the great depression, or Russia /China under communism. I guess, we were all kinda spoiled by the 20 year period 1980-2000 when it seemed history was over, we had won, and wealth was as effortless as calling up your bank and refinancing your house. That was an anomaly.
    25 Mar 2013, 01:11 AM Reply Like
  • Topcat
    , contributor
    Comments (406) | Send Message
     
    Then we elected a village idiot from Waco when we got complacent.
    25 Mar 2013, 01:16 AM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    Amen to that!
    25 Mar 2013, 01:17 AM Reply Like
  • Topcat
    , contributor
    Comments (406) | Send Message
     
    Vote out all wing and TP nuts. They are pushing us into European austerity, which is making a big mess. Get the economy going first, no matter what, then pay down debt when tax receipts go up. Pretty simple really. People who are employed spend money and pay taxes.
    25 Mar 2013, 01:18 AM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    RS

     

    I agree and i am far from hiding..I just don't like the direction some of our local officials are going either. In NYC Bloomberg with his soda ban's and now telling store owners they have to hide their cigarettes from the storefronts?

     

    Do we now have dictators? The village idiot is just that. But the other choice was no better imo..

     

    Sure this isn't a form of a depression. The entitlements seem to point that we are..Disability up, food stamps way up, etc...I think well know more within a year..
    25 Mar 2013, 01:25 AM Reply Like
  • RS055
    , contributor
    Comments (1523) | Send Message
     
    austerity is just plain stupid. It was really punishment doled out by the IMF to third world countries that refused to toe-the-line. its frankly amazing that there are actually adults in the US that think we should punish ourselves! Maybe these good folks also believe in blood letting to remove the bad humors from the body . Surely taking a small white pill cannot remove the bad humors !
    25 Mar 2013, 01:26 AM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    If you are worried about schools closing, make sure to vote Republican. They have the real solution o this country's problems - which is austerity and cutting spending. You see, if you cut spending and cut taxes, schools will automatically get funding from charity.
    25 Mar 2013, 08:03 AM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    There are any people who like to punish themselves. They get pleasure out of pain.
    25 Mar 2013, 08:04 AM Reply Like
  • Alpha Man
    , contributor
    Comments (203) | Send Message
     
    The zombies are liberals aren't they?
    25 Mar 2013, 09:15 AM Reply Like
  • onewhatsbeendonebefore
    , contributor
    Comments (145) | Send Message
     
    Why hold gold Have you tried to use gold to buy a tank full of Gas? groceries paid your loan payments mortgage It cannot be done and if you think that someone somewhere is going to buy your gold at a market price you are going to be sadly mistaken.

     

    Take a look at the loon its now worth more than US$

     

    Take a look at the Aussie $ The Norwegian Kroner The Jap yen all well up over a short period BUT you cannot sell them for a good rate because the US banks take their 3% cut everytime.
    27 Mar 2013, 10:54 AM Reply Like
  • onewhatsbeendonebefore
    , contributor
    Comments (145) | Send Message
     
    But who wants to live in 1945 again?
    27 Mar 2013, 10:59 AM Reply Like
  • Teutonic Knight
    , contributor
    Comments (1988) | Send Message
     
    Bravo and Encore!!!

     

    Everything is now on a Roll now; thanks to the wonder boy and the professor their charms and magic, Midas touches.

     

    Amen and Amen.
    24 Mar 2013, 10:44 PM Reply Like
  • aetnyre
    , contributor
    Comments (4) | Send Message
     
    Obama loves this deal - we're next ...........confiscation is the "fair" way to go......who needs money when you can get food stamps and free cell phones from Uncle Sam?
    24 Mar 2013, 11:08 PM Reply Like
  • Teutonic Knight
    , contributor
    Comments (1988) | Send Message
     
    Barack Strong!!!
    24 Mar 2013, 11:11 PM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    Obama was behind this too!?

     

    I knew it.

     

    Time to buy more bottled water.
    24 Mar 2013, 11:31 PM Reply Like
  • Alpha Man
    , contributor
    Comments (203) | Send Message
     
    Make sure you stock up on bulles as well!
    25 Mar 2013, 09:16 AM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    Boy i pity those hard working folks..But of course this could never happen here?

     

    Can it ?

     

    Ok, whose up next???
    24 Mar 2013, 11:19 PM Reply Like
  • thechaser
    , contributor
    Comments (456) | Send Message
     
    you got it macro investor; gold and guns

     

    and to that moron tack; "out of the goodness of their hearts"

     

    i still got more long shares to sell bulls so please keep it up;

     

    and yeah tack, yeah macro investor, check out that deserving n225, well of course that is just idle cash being put to work; i mean, hey, what's a 50% rise in 4 months anyway other than the "goodness of our masters' hearts" working to save us all
    24 Mar 2013, 11:24 PM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    Don't forget to get plenty of ammo.
    24 Mar 2013, 11:32 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    Where can you buy ammo??
    24 Mar 2013, 11:43 PM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    I don't know. I don't have guns.
    24 Mar 2013, 11:47 PM Reply Like
  • Tack
    , contributor
    Comments (12442) | Send Message
     
    chaser:

     

    If nothing else, you're fun to agitate. Also, you seem too familiar with the word, "moron."
    24 Mar 2013, 11:50 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    A tazer??
    25 Mar 2013, 01:30 AM Reply Like
  • DianeLee
    , contributor
    Comments (346) | Send Message
     
    Well said, Tack
    25 Mar 2013, 12:17 PM Reply Like
  • Teutonic Knight
    , contributor
    Comments (1988) | Send Message
     
    guy like thechaser is a hero to me
    25 Mar 2013, 12:31 PM Reply Like
  • SoldHigh
    , contributor
    Comments (983) | Send Message
     
    Run on banks now VERY likely in EU
    24 Mar 2013, 11:24 PM Reply Like
  • fafatooey
    , contributor
    Comments (345) | Send Message
     
    Futures are up! Asia is up, up, up. Full steam ahead!
    24 Mar 2013, 11:49 PM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    FAFA

     

    You were saying something about up up up???

     

    How about down down DOWN....

     

    i JUST LOVE those who feel the USA is infallible to all of this...
    25 Mar 2013, 02:38 PM Reply Like
  • ZBNW
    , contributor
    Comments (138) | Send Message
     
    Why the constant increase in the levy? Lots of money already funneled out last week? Or the financial disparity was found to be that much greater with time? In whatever case, thats a tough pill to swallow..
    25 Mar 2013, 04:37 AM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    I'm surprised we are not up more! So many shorts out there. When will they cover? Next up...quarter end markup, big time. No one is even really long yet, still in treasuries!
    25 Mar 2013, 06:32 AM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    You all in? You seem bitter - I hope you are not short.
    25 Mar 2013, 08:06 AM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    Market looks like the shorts will win today!!

     

    Keep thinking were heading North...sheeple...
    25 Mar 2013, 02:39 PM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    Just a lousy gap up. Expected better.
    25 Mar 2013, 08:21 AM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    How much are you short?
    25 Mar 2013, 08:25 AM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    Huh? I'd like a better gap up to sell something.
    25 Mar 2013, 08:27 AM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    Oh I see.
    25 Mar 2013, 08:30 AM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    How much are you long? Are you going to add cause the gap up is small? Why are you only long options?
    25 Mar 2013, 08:32 AM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    Are you buying more on the open?
    25 Mar 2013, 08:42 AM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    I am looking to sell my options actually. Not going to add.

     

    I don't trade futures, I already told you that. How else can I get leverage but options?
    25 Mar 2013, 08:51 AM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    You're selling on a lousy 3 or 4 point Gap up?
    25 Mar 2013, 09:03 AM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    I am getting a 50-60% return on my options. Good enough for me.
    25 Mar 2013, 09:04 AM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    Well; colour me surprised. Maybe we should all send you our money to manage. How many options do you have and which strike?
    25 Mar 2013, 09:11 AM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    Won't tell you how many but I have VXX puts with strike 17 through 21 for April which I bought during the Thursday afternoon and Friday midday spikes in VIX. Posted live as I kept on doing that.
    25 Mar 2013, 09:13 AM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    Right. And exactly how many UPRO calls; what strike?
    25 Mar 2013, 09:15 AM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    What is this, an inquisition? I have UPRO calls with strike 115, 120, 125, 130, a mix of April and June. I also bought UPRO 115 calls for Jan, 2014 a few months back, will hold that.
    25 Mar 2013, 09:30 AM Reply Like
  • Zeus2012
    , contributor
    Comments (690) | Send Message
     
    I've been very impressed by Macro Investor's call based on what I've seen over the last few months. This is not just the vol trade and SPY directional trade, but also the gold trade.

     

    I would definitely give him my money to manage but not sure if I can convince him to quit his job and do this full time.
    25 Mar 2013, 10:28 AM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    Blog talk is so cheap. And I've been full time at this 15 years. Seen them come and go.
    25 Mar 2013, 10:35 AM Reply Like
  • Unsure Now
    , contributor
    Comments (406) | Send Message
     
    ZEUS

     

    If you believe that groups posting and boasting how well they are doing i have a bridge to sell you!

     

    MI HAD POSTED that their study group was long on silver then when silver dropped posted they had closed that position and made money!!

     

    Go send your money to them...ROFL..
    25 Mar 2013, 02:43 PM Reply Like
  • Zeus2012
    , contributor
    Comments (690) | Send Message
     
    Actually, he posted the short vol trade and when he closed them out.

     

    He also posted long DUST trade and when he closed it out.

     

    He was right on both on both the direction, and more importantly, timing, and they were not intra-day trades.
    25 Mar 2013, 02:50 PM Reply Like
  • tampat
    , contributor
    Comments (993) | Send Message
     
    Macro,

     

    Where exactly do you post your live trades in real time?
    I checked your blog talk and I see a lot of comments you made about making boat loads on your VXX option trades, but I don't see the posts by you that shows real time that you are buying this or buying that for this amount.
    Your comments merely state how well you did, not real time entry and exit points.
    Anyone can say they did this or did that, so please point me in the direction of where these real time comments are.
    26 Mar 2013, 03:59 PM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    Macro Investor
    Bought 4/5 expiration $VXX puts at the close at 0.21 - heaven help me. :-)

     

    Macro Investor: Sold then all at 0.28, made 30% overnight. I love this game. These were strike 19s.

     

    Can't seem to link it but if you go through my feed you will find it. There are others.
    26 Mar 2013, 04:07 PM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    Thanks Zeus for the kind words but I love my day job. Trading is a hobby.
    26 Mar 2013, 04:09 PM Reply Like
  • tampat
    , contributor
    Comments (993) | Send Message
     
    Macro,

     

    Your trades are not posted real-time.

     

    One example, you say you bought VXX puts at the open and were up 7%, but you didn't post it until almost noon, thats not real time.
    When you posted you made 30% overnight, again, not real time, well after the fact.

     

    I'm not trying to give you a hard time, but if you are going to claim you post your trades real-time, then you need to do it real-time, not hours after the fact, or the next day.
    Anyone can do that and claim whatever they want.

     

    We can all appear to make money saying we did this or that after the fact.

     

    I'm going to follow along with you so lets see those posts made real-time as you claim they are.

     

    You do know what 'real time' means, right?
    That means as soon as you open or close a trade you post it within minutes, not hours or days.

     

    If you aren't able to do that due to work or whatever, then stop claiming you post your trades real time. Thats fraud.

     

    Look forward to seeing the upcoming trades.
    26 Mar 2013, 04:25 PM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    I will keep doing what I am doing. Sounds good?
    26 Mar 2013, 05:57 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (3427) | Send Message
     
    "I will keep doing what I am doing. Sounds good?"

     

    Translation: "No, I won't do that. I look better when I post after-the-fact imaginary trades."
    26 Mar 2013, 06:23 PM Reply Like
  • Macro Investor
    , contributor
    Comments (7142) | Send Message
     
    Precisely John. I make it all up.
    26 Mar 2013, 06:27 PM Reply Like
  • Macrotrader100
    , contributor
    Comments (2601) | Send Message
     
    Lets see. I tried to short BBRY at 16 on Friday. Could not borrow any stock. What a surprise.
    25 Mar 2013, 08:36 AM Reply Like
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