UNQUANTIFIABLE PREMIUM ON CASH


Been on the road all day today, just back to the peace of the Moray Firth.  Checking the wires, so to speak, and according to Tyler Durden over at Zero Hedge, if you’re a Cypriot citizen, as of tomorrow, there is “an unquantifiable premium for having physical cash over electronic.  Learn from it.”  As ever, my money remains firmly on a systemic bank run bringing down the euro currency.  Bring it on, I say. Free the peoples of the Eurozone, especially the youth of Europe.  Time for a glass of Rioja; it’s been a shitty day here. Worse, much worse tomorrow for the Cypriots. Welcome to the European Union. Welcome to peace, prosperity and freedom. And to hell with the Troika. The Cypriots would be mad not to revolt against theft of their personal property.

5 comments

  1. Albizu · ·

    Delighted you should choose Rioja, Moraymint.

    I can also recommend Patxaran (or Pacharan), the Basque mountain winter-warmer, if you haven’t already tried it.

    Consumption is falling among the younger generation in Spain, sadly – it isn’t ‘international and cool’…..not as much as whisky that’s for sure! It’s a farmhouse drink, so you could make some yourself as you prepare to survive what’s coming.

    These days, a good drink does indeed seem the best way to cope with the accumulation of dismaying news in the dystopian EU.

    Saludos.

    It seesm

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    1. Albizu: my friend who live in Spain (for the last 10 years or more) reports that in Sevilla (likely elsewhere as well) there is an upsurge in bars selling cheap spirits.

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  2. http://www.counterpunch.org/2013/03/28/the-confiscation-scheme-planned-for-us-and-uk-depositors/
    In the works since December last year or earlier – preparations for Cyprus style deposit confiscation in the UK and USA.

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  3. Ernie · ·

    Time for a glass of Rioja! If there is a run on the “Spanish Euro” how will that effect the price of your Rioja? How will this “run” effect the price of olive oil. Should we stockpile our favourite Mediterranean goodies and help stabilise the Club Med economies by improving their trade or should we wait until there is a collapse and try and pick up the debris at rock bottom prices. What would a German financier do in this situation, after all, they’ve had more practice at picking the bones over their “financial road kill” than anybody else?

    Should I think of the greater good of hoping or assisting in the downfall of the Euro or should I think of the poor down trodden sods being filleted by Brussels – such a choice. What will you be doing MM while you sit there keeping out of the Siberian blast?

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