What's up with the value of the YEN?

[Samurai_Jerk]

Cyprus bailout...

http://ex-skf.blogspot.jp/2013/03/germa ... ut-of.html

10 % taken from deposit bank account...

I somehow don't see this as a good precedent...

That's exactly the type of thing a filthy pinko like yourself should love.

And why I'm all for it...should be enacted globally, as well as capping personal wealth at $1 billion in total cash and assets and CEO wages at no greater than 50 times that of a company's lowest-paid worker, among other socailly rationalizing steps.

Wow, you really are mentally ill.

[Screwed-down Hairdo]

Wow, you really are mentally ill.

And I misspelled "socially."

I'm fucking sick of capitaljism...(mainly because I can't exploit anyone and reap the benefits of being grossly overpaid for doing fuck all like I used to...)

[Coligny]

Cyprus bailout...

http://ex-skf.blogspot.jp/2013/03/germa ... ut-of.html

10 % taken from deposit bank account...

I somehow don't see this as a good precedent...

That's exactly the type of thing a filthy pinko like yourself should love.

And why I'm all for it...should be enacted globally, as well as capping personal wealth at $1 billion in total cash and assets and CEO wages at no greater than 50 times that of a company's lowest-paid worker, among other socailly rationalizing steps.

Wow, you really are mentally ill.

It's those claiming to be sane that should be feared most...

[legion]

and if tax evasion and tax havens are the problem, why not go after Starbucks or all those companies domiciled in the Cayman Islands ?

Because the banks there are not in danger of collapsing.

So tax evasion is fine until the banks run into money troubles, then it suddenly become an issue?

Tax avoidance and tax evasion aren't the same thing.

When we do it it's avoidance, when they do it it's evasion

Either way this is collective punishment for a situation the great majority of Cypriots had no real say in.

[Russell]

Problem is that a lot of the savings in Cyprus banks is from rich Russians who dodge taxes. The Germans did not want to subsidize those...

It doesn't matter who the money belongs to, how it got there, or how legitimate (or not) it is. Raiding bank account capital sets a hugely bad precedent.

Lurker, I agree that it is a huge blunder to risk a bank run in this way (and with it, more bank runs in other Southern European countries).

What I wanted to do is to clarify the mindset that led to this decision. Seems that the Russian mafia is well-present in Cyprus, and it is hard to explain to German voters (and Dutch voters, and Finish voters, and...) that they have to cough up tax money to bail those out.

I do not know any solution to this, except that the banks should be strictly regulated, or maybe even nationalized. But this should have happened before the crisis of course. Anyway, nationalization will happen automatically in these crisis times, when nations have to bail out banks and get stocks in return for it. You do not want to know how many Dutch banks are already in the hands of the state.

[Samurai_Jerk]

and if tax evasion and tax havens are the problem, why not go after Starbucks or all those companies domiciled in the Cayman Islands ?

Because the banks there are not in danger of collapsing.

So tax evasion is fine until the banks run into money troubles, then it suddenly become an issue?

Tax avoidance and tax evasion aren't the same thing.

When we do it it's avoidance, when they do it it's evasion

That may be and if so it's an argument for changing tax law but you can't go after companies if they aren't breaking the law.

[Coligny]

They are not breaking the letter of the law but are shitting all over the spirit.

Check out on the hearings for the bailouts... It's starting to rub some higher ups in the wrong way...

It's a weasel practice that make good money still now... but might not last forever...

[Screwed-down Hairdo]

I much prefer seeing the fiscal irresponsibility going on in Cyprus to the fiscal irresponsibility of using billions of taxpayers' dollars to bailout banks so they can pay their CEOs millions of dollars in bonuses. Of course, the end result of fiscal irresponsibility is always the same, but better to have a wider spread of people given the chance to avoid the inevitable disaster than just a handful.

[legion]

When we do it it's avoidance, when they do it it's evasion

That may be and if so it's an argument for changing tax law but you can't go after companies if they aren't breaking the law.

simplify & enforce would be a start, it's the complexity which creates the loop holes

[legion]

What I wanted to do is to clarify the mindset that led to this decision. Seems that the Russian mafia is well-present in Cyprus, and it is hard to explain to German voters (and Dutch voters, and Finish voters, and...) that they have to cough up tax money to bail those out.

I do not know any solution to this, except that the banks should be strictly regulated, or maybe even nationalized. But this should have happened before the crisis of course. Anyway, nationalization will happen automatically in these crisis times, when nations have to bail out banks and get stocks in return for it. You do not want to know how many Dutch banks are already in the hands of the state.

Now there is a problem they suddenly realise that tax havens attract funny money, them Eurocrats is smart.

Why in a supposed united Europe should one particular nationality carry the responsibility for what is basically a pan-european problem? Suddenly they want to hide behind their national frontiers. Surely a united Europe should be skimming off everyone's savings accounts.

[IparryU]

What happened yesterday?

JPY FX 2013.04.04.jpg

[Taro Toporific]

What happened yesterday?

JPY FX 2013.04.04.jpg

Random Walk?

[Wibble]

What happened yesterday?

The BOJ were having a meeting and there was a statement from BOJ that they are going to make yet more yen to try to drive higher inflation. Maybe that did it?

[yanpa]

Japan bank's Haruhiko Kuroda in aggressive growth move

The Bank of Japan has said it will dramatically expand the country's money supply, as it tries to stimulate growth in the world's third-largest economy.

The central bank vowed to boost an asshat purchase programme and meet a 2% inflation target in two years, after a two-day meeting, the first chaired by new governor Haruhiko Kuroda.

Japan's economy has been battling more than a decade of falling prices.

...more single-sentence paragraphs...

[Samurai_Jerk]

Japan bank's Haruhiko Kuroda in aggressive growth move

The Bank of Japan has said it will dramatically expand the country's money supply, as it tries to stimulate growth in the world's third-largest economy.

The central bank vowed to boost an asshat purchase programme and meet a 2% inflation target in two years, after a two-day meeting, the first chaired by new governor Haruhiko Kuroda.

Japan's economy has been battling more than a decade of falling prices.

...more single-sentence paragraphs...

Single sentence paragraphs? Just like most emails I get from Japanese people.

[Russell]

Seems they are going to double the money supply.

[Screwed-down Hairdo]

Seems they are going to double the money supply.

Holy shit! Considering my supply of money is zero, that means my supply remains zero, but what I have is halved. Fuck you very much, I think...

[Coligny]

We'll never run out of toilet paper again... yay !!!

[yanpa]

We'll never run out of toilet paper again... yay !!!

I'm sure there'll be at least one more major earthquake in our lifetimes...

[Coligny]

is ok, i have camping portap00ty and stashes of TeePees hiddun in the w00dz guarded by transekshual bearz...

[yanpa]

Are the teepees for Choko?

[Coligny]

TP is codename for toilet paper...

Don't think you need to teach an indiun how to shit is the woods...

[yanpa]

LMGTFY: Teepee

[Coligny]

The great cornhooolio would like to totally disagree...

image.jpg

[legion]

LMGTFY: Teepee

English hippies used to live in those, in Wales

til there was a fashion for yurts

[Russell]

Seems they are going to double the money supply.

Holy shit! Considering my supply of money is zero, that means my supply remains zero, but what I have is halved. Fuck you very much, I think...

The money that you have will be devalued (you better spend it as soon as possible), but your non-monetary assets will increase in value. Doesn't that give you a nice fuzzy warm feeling?!?

[Russell]

LMGTFY: Teepee

English hippies used to live in those, in Wales

til there was a fashion for yurts

I once stayed in a Mongolian Ger.

In itself that was not so bad, especially since it had an aircon installed (it was in Japan), but the beds were so fornicating hard, I won't go for a repeat visit. Nice stories, though, from the Mongolian who ran that camp.

[Screwed-down Hairdo]

....your non-monetary assets will increase in value. Doesn't that give you a nice fuzzy warm feeling?!?

It would if: 1) I actually had any non-monetary assets (I have no assets at all) and 2) it were true.

The non-monetary assets don't increase in value, they simply cost more (and there is a significant difference).

[Russell]

....your non-monetary assets will increase in value. Doesn't that give you a nice fuzzy warm feeling?!?

It would if: 1) I actually had any non-monetary assets (I have no assets at all) and 2) it were true.

The non-monetary assets don't increase in value, they simply cost more (and there is a significant difference).

This may get into a philosophical debate of what the meaning is of "value". I guess the value of your non-monetary assets is reversely proportional to the value of the Yen...

[Screwed-down Hairdo]

....your non-monetary assets will increase in value. Doesn't that give you a nice fuzzy warm feeling?!?

It would if: 1) I actually had any non-monetary assets (I have no assets at all) and 2) it were true.

The non-monetary assets don't increase in value, they simply cost more (and there is a significant difference).

This may get into a philosophical debate of what the meaning is of "value". I guess the value of your non-monetary assets is reversely proportional to the value of the Yen...

It seems you don't understand what inflation does...it's like a tax that devalues everything.
Inflation works only for those who can stay one step ahead of it...and they're usually the people who aren't greatly affected by either inflation or deflation (comparatively speaking, of course, because experience has taught me that even those who have so much they couldn't possibly use it all still want more...)