THE WORLD IS OVER Depositor: a moron giving his money to the bank

In April, I wrote for BURSA, an article called "...of Cyprus" (see the website on April 11th, 2013), where I reported:

From the moment the idea of recapitalizing the bank using money confiscated from its depositors surfaced, we can no longer speak of "Bank of Cyprus", only of "...of Cyprus".

Since we're arguing definitions, then it should be said that making off with the depositors' money does not fit the notion of "bank", because, fundamentally, banks provide services of safeguarding the money and making payments upon the request of the owners of the money.

So, it's just ..."....of Cyprus".

Readers liked my article and they found it funny (I had kind of liked the punch-line myself).

But in fact, I wasn't just joking.

The topic is serious, the topic is essential, the topic concerns the very foundation of our world.

The topic concerns the dictionary.

Yes, in reality, the Cypriot "bail-in" has struck at the root of the notion of "bank" from the world's dictionaries.

And it left us with no other definition to replace it.

It left us butt-naked.

Today, when we say the word "bank", we don't know what we are talking about, because there are two types: one, which, as far as I know, will take your money for safekeeping, and another one that will take it away.

Which kind of "bank" are you using: the former or the latter?

There will be some people saying that I am overreacting, that this is Cyprus that we are talking about and it's their problem, that it's one which we don't have and we won't have in the future either.

People, you are wrong!

First of all, you are wrong because you are clinging to the notions present in the dictionary.

Let's see: do you think that if the Pythagoras' Theorem were to be proven invalid on Mars, do you think that it would remain valid on Earth?

If that's how you feel, then you are just naïve, but you are not rigorous in your logic.

No, if Pythagoras's theorem isn't valid on Mars, then it is no longer universal and therefore it has no longer an applicability rule; that is why on Earth, the Theorem would no longer be real, except on a phenomenological level, of accidental occurrences, but it would no longer be necessarily valid.

That's kind of how things are with "...of Cyprus": the moment the dictionary definition of the "bank", actually became the opposite of what it used to mean, the remaining banks in the world will only accidentally continue to work like they used to, without it being a given.

But of course, optimists will look at my argument of a notional-logical argument as a speculative hodge-podge.

I have no demand of being persuasive in this manner, and that is why I said, in the beginning of the argument, that I will only invoke it "first of all".

Because there is also a "second of all", which will follow right away.

Second of all ...

Ah, I feel so sorry!

Second of all, Jörg Asmussen, a member of the Executive Committee of the European Central Bank, has announced, in his speech held on Tuesday, before the Atlantic Council, it's not just that the measures in Cyprus will be generalized to cover all of Europe, (which was something that was known anyway), no, not the fact that those measures will be applied on a continental scale, starting with January 1st, 2019, (like it was rumored it had been agreed), but that he also thinks that even 2016 (as the European Parliament recently proposed) is way too much to wait for these measures to be implemented in the entire European Union and that they need to be adopted on January 1st, 2015.

Meaning, immediately after the end of next year, when Traian Băsescu will no longer be our president.

Well, truth be told, I doubt that Băsescu's term has any connection to the opinion expressed by Jörg Asmussen, that bankrupt banks should have the legal right to steal their depositors' money, but on the other hand, Băsescu's opinion that we should be joining the Euro, even as the Euro is going to hell, seems to have something to do with the nonsense spouted by Jörg Asmussen.

Based on what Asmussen is claiming, the obscurantists could very well reinterpret the Mayan calendar, stating that the world will end at the same time as the presidential term of Băsescu of Romania.

But naturally, they would be wrong, because the world has already ended, just like the Mayans had prophesized, at the end of 2012, because "Bank of Cyprus" lost its "bank" part, in the spring of 2012.

Right now, the definition of a depositor is: "A moron giving away his hard-earned money to the bank, for free".

The problem doesn't end here.

All over the world, the businesses are being carefully watched (allegedly to prevent them from laundering money), through a law which requires the money to go through bank accounts.

Hmmm...., I'm sure you got what that means.

One day you could very well have a booming business; the next day, it's gone!

Over night, the bank has taken away your money.

Why?

Because the CEO spent it on some babe.

"This is how we do it!", like and older rap song used to say.

Indeed.

This is how we do it in the "new" world?

The old world is over.

The other world, that of the future, has not yet taken shape.

Today we are completely marooned in "No man's land".