Animal spirits
"Animal spirits" is the term John Maynard Keynes used in his 1936 book The General Theory of Employment, Interest and Money to describe emotions which influence human behavior and can be measured in terms of consumer confidence.

batou wrote: They better do it quick as well or change is all that'll be left.

Where can we rob a bulldozer from?

It's all very well withdrawing money from the banks, but I'm stumped. We've one account that the wages get paid into, and another one that a DD from the 1st goes to monthly just to cover the bills (which are paid by DD). If the banks were to shut suddenly, it's pot luck with the timing as to whether you'd have the chance to rescue your newly paid in wages - especially since you're at work during banking hours anyway, and there's a maximum withdrawal limit on daily ATM withdrawals of £200 - £300. It's most unsatisfactory.

And as for freezing bank accounts without prior warning (sorry had to deal with something mid rant) yes, I can see they wanted to avert a run on the banks, but (a) they've no right to do that, leaving those people in the lurch, and it's tantamount to thieving, and should be illegal, and (b) is it hell going to stop a run - at best it delays it till they open their doors to the, by then, infuriated public.

It's difficult, Gilly, especially if as in your circumstances you run a business with serious overheads. We should view the Cyprus situation as a warning, and you can at least ensure that you have some cash to fall back on should something similar occur in the UK, and would be well advised to do so. That's the best advice I can give you, beyond that I would be overstretching my qualifications!

Gilly wrote:
They wanted a run on the banks

andyh wrote:
That much seems obvious, but to what ends? Are 'They' acknowledging it's game over or game on?

Even the FT is talking about the likelyhood of them having started a run.

https://www.ft.com/cms/s/0/b501c302-8cea-11e2-aed2-00144feabdc0.html#axzz2NvK2sY21

oioioi wrote:
There are still plenty over here who have no clue what's going on in Cyprus, or what the implications are. I've mentioned it to a few people today, and there was only one person who knew anything of it.

What's the plan? Beyond the immediate thievery.

oioioi wrote:
Game on.
Economic collapse followed very quickly by emergency summit and introduction of a new EU bank with total self authority and self accountability with no oversight and conversion of all euro to 100% digital with an announcement that all cash has to be handed in to the bank to be 'converted' to a digital balance along with issuing everyone with a visa debit card and visa phone apps.

They then announce an electronic bailout for the banks, have total stability and 'rescue' the euro.

It rapidly becomes the world reserve currency as it recovers at a phenomenal rate and overtakes all the other currencies.

OR

They really don't know what they're doing and we're heading for the dark ages (nervous laughter and twitching eyebrow)

andyh wrote: who is "they" any evidence?

andyh wrote:
Probably a bit from Column A and a bit from Column B
They'll have a cunning plan which will turn to shit because they didn't take a factor into account.

Mike wrote:
The EU commissioners, the bank owners. There's hundreds of them.

en.wikipedia.org/wiki/Peter_Sutherland

^theres one of the biggest of them all.

Get real, the EU Commissioners and the Bank Owners don't want a bank run and subsequent collapse, it's people like Keiser with their bitcoins that want a bank run, people like you ;p

Mike wrote:
I want a bankrun? Thats a good one, lol

I want a completely different economy let alone a bank run.

Everything that has happened Peter Sutherland has had a direct involvement in. From Goldman Sachs to Ireland, to the trilateral commission, bilderberg, vatican financial advisor, the works. Go ahead and read the resume. He's like darth vader.

What keiser and I want is completely irrelevant to whats happening because we don't have any influence on it do we?
Durrrhhh

Gilly wrote: I spoke to about a dozen people today, no-one had any idea about it. Here are headlines from literally the last couple of hours:

www.guardian.co.uk/world/2013/mar/18/cyp...-banks-levy-deposits

www.nytimes.com/2013/03/19/business/glob...?pagewanted=all&_r=0

www.reuters.com/article/2013/03/18/fitch...dUSFit65217420130318

I don't know if you're going to see anything dramatic yet, although it is possible. But although I'm sure awareness is far, far higher in Italy, Greece and Spain than the UK, a lot of people will have been watching the football and going about everyday life. You might not see a dramatic withdrawal of money yet, which would allow 'Plan B' to be put into action, which is clearly to go after Italy with similar measures as introduced in Cyprus. This is already being announced now.

From the Cyprus mail......

ATMs working normally, says the Central Bank....They were only refilled this morning due to the banks being closed at the weekend. They were emptied on Saturday due to the public that panicked at the news in the morning that there was to be a haircut on deposits.

I read some of the comments and some have said they still can't access money.

I've had the news on most of the day and 'once'...sky probably thought it better not to show it again......a clip was shown of a crowd in Cyprus with placards saying ' HANG THE BANKERS'.

pheony wrote:
That's what we want to hear.

I hope they don't think bank tellers are to blame though.