Cyprus Confiscating 10% of People's Savings to Pay on National Debt

[mudwhistle]

Just had a federal employee PM me saying he/she was retiring to head off a grab by the White House on his/her retirement fund. I'm not close enough to retirement to do the same or I would.

 

[dblack]

If you believe the 'crazy old Maurice' of the libertarian/republican wing - it's somewhat more complicated than all that.

Failure and Success in Cyprus - by Ron Paul

 

[NYcarbineer]

Except for where they may go after insured deposits, the fact is, bank deposits are fair game when banks are failing.

What would be the point in depositing into banks if those deposits are "fair game"? Obviously, if banking is an investment, they would have to yield a lot more.

You would have to ask that of the people who have uninsured deposits in Cypriot banks.

This is a bank bailout. The depositors are apparently screwed one way or another.

 

[Book of Jeremiah]

Take a step back and look at the timing. Obama is due to go to Israel on March 20th. That is 2 days from now. Cyrus confiscating money story was purposely timed I believe. It is going to create a domino effect. People are going to start moving their assets, getting their money out of bank accounts the government has access to and I don't expect it will take long to create the effect Kissinger - Soros - Obama club are looking for.

These events are being carefully timed. People need to be paying attention because it looks like the bottom is going to drop out of this very soon. Obamacare includes government access to our bank accounts. They can take money WITHOUT your permission. Oh yeah! Does everyone realise this? It does. - J.

 

[Book of Jeremiah]

FDIC is a joke. Your money is no longer protected in American banks thanks to Obamacare. Better look into it rather than take the word of a liberal. - J.

 

[KissMy]

Take a step back and look at the timing. Obama is due to go to Israel on March 20th. That is 2 days from now. Cyrus confiscating money story was purposely timed I believe. It is going to create a domino effect. People are going to start moving their assets, getting their money out of bank accounts the government has access to and I don't expect it will take long to create the effect Kissinger - Soros - Obama club are looking for.

These events are being carefully timed. People need to be paying attention because it looks like the bottom is going to drop out of this very soon. Obamacare includes government access to our bank accounts. They can take money WITHOUT your permission. Oh yeah! Does everyone realise this? It does. - J.

Who's name is one "your money"? Not yours, it is the governments money & they will do as they wish with it. They print it, lend it, multiply it, devalue it, tax it, confiscate it, etc. Gold is the only money that is "your money".

 

[Trajan]

Who says it can't happen here considering the road we're going down?

Britons have about £1.7billion of deposits in Cyprus and could lose up to £170million. The Cypriot government has agreed to seize up to ten per cent of savings and use the money to bail out the island’s crisis-hit banking system.

The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.

Warning: Chancellor George Osborne said today on BBC One's Andrew Marr Show that the situation in Cyprus was 'an example of what happens if you don't show the world that you can pay your way'

Restrictions have been imposed to stop people emptying their accounts or moving their money out of the country following the deal with other eurozone finance ministers, under which ordinary citizens’ deposits will be directly raided for the first time.

One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’

ATMs emptied across Cyprus after savers learn 10billion euro bailout agreement includes levy on all bank accounts | Mail Online

It's called big government, sir.

yes it is, and for those that may scoff at miniscule Cyprus, heres another end run around property rights and contracts, a G-20 member.


Argentina's Property Grab - WSJ.com

and..

Portugal, Hungary.....

Portugal seizes pension funds, is US the next? | www.commodityonline.com | 3


the approach is different but the rapacious attitude of desperate government 'mis'-managers that have run out of their money and is now into other peoples, (which of course they will run out of too as Thatcher wittingly observed), is not new at all.


If you read, and read history, this is all so drearily familiar

 

[Trajan]

Except for where they may go after insured deposits, the fact is, bank deposits are fair game when banks are failing.

What would be the point in depositing into banks if those deposits are "fair game"? Obviously, if banking is an investment, they would have to yield a lot more.

You would have to ask that of the people who have uninsured deposits in Cypriot banks.

This is a bank bailout. The depositors are apparently screwed one way or another.

humm, are we screwed one way or another if say our gov. decided to levy our bank accounts NY Carb.?

 

[CrusaderFrank]

Biden's already talked about it

Thankfully we have a Second Amendment to guard our rights and property from a tyrannical government

Oh and Cyprus should tell the EU To fuck off and let the bankers take a fucking haircut

 

[Oddball]

Cash in a safe is starting to look pretty good right about now.

Which currency? Those gold nuts are looking more and more sane.

Actually, silver is the better buy right now.

Have fun trying to wipe your ass with FRNs when the inevitable crash comes.

 

[t_polkow]

Who says it can't happen here considering the road we're going down?

Britons have about £1.7billion of deposits in Cyprus and could lose up to £170million. The Cypriot government has agreed to seize up to ten per cent of savings and use the money to bail out the island’s crisis-hit banking system.

The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.

Warning: Chancellor George Osborne said today on BBC One's Andrew Marr Show that the situation in Cyprus was 'an example of what happens if you don't show the world that you can pay your way'

Restrictions have been imposed to stop people emptying their accounts or moving their money out of the country following the deal with other eurozone finance ministers, under which ordinary citizens’ deposits will be directly raided for the first time.

One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’

ATMs emptied across Cyprus after savers learn 10billion euro bailout agreement includes levy on all bank accounts | Mail Online

It's called big government, sir.

International capital is raping the people, Capitalism at it finest.

 

[Oddball]

Who says it can't happen here considering the road we're going down?

Britons have about £1.7billion of deposits in Cyprus and could lose up to £170million. The Cypriot government has agreed to seize up to ten per cent of savings and use the money to bail out the island’s crisis-hit banking system.

The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.

Warning: Chancellor George Osborne said today on BBC One's Andrew Marr Show that the situation in Cyprus was 'an example of what happens if you don't show the world that you can pay your way'

Restrictions have been imposed to stop people emptying their accounts or moving their money out of the country following the deal with other eurozone finance ministers, under which ordinary citizens’ deposits will be directly raided for the first time.

One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’

ATMs emptied across Cyprus after savers learn 10billion euro bailout agreement includes levy on all bank accounts | Mail Online

It's called big government, sir.

International capital is raping the people, Capitalism at it finest.

You wouldn't know capitalism if it kicked you in the nuts.

Centralization of credit in the hands of the state, by means of a national bank with state capital and an exclusive monopoly.

~Plank 5, Communist Manifesto

 

[theHawk]

Who says it can't happen here considering the road we're going down?

Britons have about £1.7billion of deposits in Cyprus and could lose up to £170million. The Cypriot government has agreed to seize up to ten per cent of savings and use the money to bail out the island’s crisis-hit banking system.

The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.

Warning: Chancellor George Osborne said today on BBC One's Andrew Marr Show that the situation in Cyprus was 'an example of what happens if you don't show the world that you can pay your way'

Restrictions have been imposed to stop people emptying their accounts or moving their money out of the country following the deal with other eurozone finance ministers, under which ordinary citizens’ deposits will be directly raided for the first time.

One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’

ATMs emptied across Cyprus after savers learn 10billion euro bailout agreement includes levy on all bank accounts | Mail Online

It's called big government, sir.

International capital is raping the people, Capitalism at it finest.

Bailouts aren't apart of capitalism. Failed companies, even banks, should be allowed to fail.

 

[editec]

What's going on isn't capitalism, neither is it communism or socialism.

It's an ongoing crime conducted under the authority of government.

the Political science word for this kind of government/event is Kleptocracy

 

[boedicca]

The EU is devolving into Socialism. Consider Cyprus a Pilot Test for asset seizures.

There is some possibility that this will also happen in the U.S., but I suspect the more likely case is massive inflation to reduce the value of government debt.

 

[boedicca]

What's going on isn't capitalism, neither is it communism or socialism.

It's an ongoing crime conducted under the authority of government.

the Political science word for this kind of government/event is Kleptocracy

Uh. Communism and Socialism are both forms of Kleptocracy, byb.

 

[boedicca]

Who says it can't happen here considering the road we're going down?

Britons have about £1.7billion of deposits in Cyprus and could lose up to £170million. The Cypriot government has agreed to seize up to ten per cent of savings and use the money to bail out the island’s crisis-hit banking system.

The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.

Warning: Chancellor George Osborne said today on BBC One's Andrew Marr Show that the situation in Cyprus was 'an example of what happens if you don't show the world that you can pay your way'

Restrictions have been imposed to stop people emptying their accounts or moving their money out of the country following the deal with other eurozone finance ministers, under which ordinary citizens’ deposits will be directly raided for the first time.

One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’

ATMs emptied across Cyprus after savers learn 10billion euro bailout agreement includes levy on all bank accounts | Mail Online

It's called big government, sir.

International capital is raping the people, Capitalism at it finest.

International Capitalism?

The EU is not a Club of Capitalists, bub.

 

[Oddball]

What's going on isn't capitalism, neither is it communism or socialism.

It's an ongoing crime conducted under the authority of government.

the Political science word for this kind of government/event is Kleptocracy

A commie by any other name....

 

[boedicca]

Take a step back and look at the timing. Obama is due to go to Israel on March 20th. That is 2 days from now. Cyrus confiscating money story was purposely timed I believe. It is going to create a domino effect. People are going to start moving their assets, getting their money out of bank accounts the government has access to and I don't expect it will take long to create the effect Kissinger - Soros - Obama club are looking for.

These events are being carefully timed. People need to be paying attention because it looks like the bottom is going to drop out of this very soon. Obamacare includes government access to our bank accounts. They can take money WITHOUT your permission. Oh yeah! Does everyone realise this? It does. - J.

Who's name is one "your money"? Not yours, it is the governments money & they will do as they wish with it. They print it, lend it, multiply it, devalue it, tax it, confiscate it, etc. Gold is the only money that is "your money".

Really? Wow. You really are a loon.


I agree with Gold as a store of value, but the money I earn belongs to me. It is not loaned or gifted by the government.

 

[Oddball]

Take a step back and look at the timing. Obama is due to go to Israel on March 20th. That is 2 days from now. Cyrus confiscating money story was purposely timed I believe. It is going to create a domino effect. People are going to start moving their assets, getting their money out of bank accounts the government has access to and I don't expect it will take long to create the effect Kissinger - Soros - Obama club are looking for.

These events are being carefully timed. People need to be paying attention because it looks like the bottom is going to drop out of this very soon. Obamacare includes government access to our bank accounts. They can take money WITHOUT your permission. Oh yeah! Does everyone realise this? It does. - J.

Who's name is one "your money"? Not yours, it is the governments money & they will do as they wish with it. They print it, lend it, multiply it, devalue it, tax it, confiscate it, etc. Gold is the only money that is "your money".

Really? Wow. You really are a loon.

Actually, he has a point.

"Federal Reserve Notes" are private commercial script, not lawful, de jure, Article 1, Section 8, "money".