Taking Candy from Babies — Banksters run rampant in Cyprus — Ukrainian reaction

In case you missed it:

Sad Cyprus

#Cyprus Depositors Vent Fury Through Social Media


Now that the precedent has been set, now that a western government has simply closed banks and helped itself to between 6.7 and 10 percent of each depositor’s money, I wonder if I should close my IRA.

Waiting thirty years for a tax break under these conditions seems ridiculous. The dollar will certainly collapse before then. The only question is how audacious the crimes of politicians will be when their system is in its death throes.

Let’s wait and see how big a bank run this action sparks.






Ukrainians have seen similar things before — bank holidays not for confiscation, but during period of hyper inflation. I think that aside from the Ukrainian oligarchs with money in Cyprus, people here consider this far away and other people’s business.

As my relatives say when I segue to the topic of sound money: “this would be really interesting if we had money to worry about.”


I actually think Ukrainians are among the best prepared people on Earth for currency collapse. Everyone here knows to keep money under the mattress and to hide their economic activity.


  1. elmer

    Roman, the treaties with Cyprus date back to sovok union days.

    It is open and obvious, very well-known, that Zookraine’s oligarchs have long used Cyprus as well as other “offshore” locations to hide their money, and to evade taxes.

    It’s how the Space Cadet former mayor of Kyiv, Chernovetsky, evaded tens of millions in taxes when he sold some of his “beezinessez.”

    Cyprus trades on fake corporations, tax evasion, and acting as an “offshore haven” for Zoorkaine’s and Rasha’s oligarchs.

    Cyprus’ tactic does not surprise me.

    And you are right – in Zookraine, there is a huge underground economy.

    For good reason – noone, not even the thugs in “government,” trust the “government”

    Zookraine is a sovok mafia state pile of shit, a cesspool, a sewer.

    But if everyone keeps their money under mattress, how does an economy develop to its full potential?

    How can the multiplier effect work, for example, when the price of trying to survive is hiding money?

    Most Zookrainians have no choice right now but to hide their money under mattresses, and you are right, they have gone through seeing their savings from the sovok era disappear several times.

    The sovok mafia thug oligarchs hide their money in Cyprus, Switzerland, British Virgin Islands, Latvia, and all sorts of other places. It’s well documented, and one such case is the Paul Lazarenko’s criminal prosecution in San Francisco.

    The bad thing is that in Zookraine, it’s as you say – they don’t think that anything concerns them, and the “don’t have money” which they have hidden under mattresses and elsewhere.

    What a zoo – and no money, to boot!

    1. Ed K

      Elmer said, What a zoo – and no money, to boot!”

      Elmer, money is merely an easy medium of exchange
      of ‘wealth’. Have Roman translate some of his friends
      works on Austrian Economics for you to read.

      There are alternatives, the secret is to find them. Consider
      creating your own ‘money’.

      Or consider crock pots of pickled cabbage, meats, et al. The
      secret is to find and use an alternative medium of exchange
      when the crooks control the national system.

      I make these suggestions understanding that two American
      brothers were told that men cannot fly. And even then any
      research was controlled by a corrupt quasi governmental
      agency, the Smithsonian Institution which funded several
      failed attempts to show that Orville and Wilbur were

      At least the Smtihsonian did not use Stalins method of
      killing researchers when he disagreed.


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