Cyprus - Stranded Cash

When integrity died, Wall Street thugs went looking for vulnerable capital pools. They quickly surmised that stogy seniors had large nest eggs stashed away in pension savings and paid up residential real estate.  For the good of the country this stranded capital needed to be put to work.  Governments obliged by legalizing reverse mortgages and promoting casinos in every community in order to pleasantly empty the pockets of unsuspecting oldies.

When this action slowed, government collaborators reduced interest rates to nil and invited seniors to glom up fraudulent worthless subprime mortgage paper.  It worked. Seniors clamored for enhanced yields and got totally ripped off.  When U.S. Treasury Secretary Tim Geithner was asked why the Feds facilitated the robbery of seniors he said it was because that was where the money was.

But Wall Street didn’t stop at robbing seniors.  Whole countries and giant corporations have gone under as a result of the failure of integrity across our entire planet.  General Motors once dominated the industrial world.  It went under.  Greece and Spain and Ireland and Italy and more have died at the hands of the Wall Street robber barons.

And now our politicians have a new problem.  The Wall Street thieves stuffed their winnings into safe haven banks all over the world.  Not a penny of the stolen horde has gone toward building much needed roads or business enterprises or anything else.  The voters are restless and the loot is still stranded, but now it’s tightly held by a few hundred Wall Street trillionaires.

Last week the governing body of the EU went after cash in the safe haven banks on the Island of Cyprus.  Cyprus is trying desperately to distance itself from this EU raid, but the rat is out of the bag and there is no turning back.  It will be much harder to extract money from the mega-thieves than from naïve seniors.  Russia’s Putin for one, is meaner than a junk yard dog, and the EU should remember that he supplies most of the natural gas for Europe.

The attempted EU cash grab in Cyprus is like a declaration of war.  I expect to see the transfer of trillions of dollars to the U.S. from scummy banks all over the world.  But Wall Street bankers set this travesty in motion in the first place.  They were offshore in part because they could not trust their own financial institutions.  We are headed for extreme violence involving the greediest souls to have emerged in the post-Christian era.

The good news?  The Parliament of Cyprus voted against the EU rip-off.  The bad news?  Cyprus banks have been shut down for three days and there is no sign that they will re-open before the middle of next week.  So much for government insured bank accounts.  If Cyprus is bankrupt by then, perhaps the cupboard will come up empty.