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

[boedicca]

I'm not going to support an interpretation that fiat currency belongs to the government and that the government can take it back.

 

[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

A commie by any other name....

Yeah and every element is oxygen if you're a fucking ignoramous about chemistry.

Words matter, fool.

 

[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

A commie by any other name....

Yeah and every element is oxygen if you're a fucking ignoramous about chemistry.

Words matter, fool.

It's a shame you don't practice what you preach.

 

[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

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

In practice I completely agree with you.

In theory, not.

In theory, capitalism isn't theft of the weak by the strong, either.

In practice, that's what our form of capitalism has become...a Kleptocracy by monetary manipulation

Words matter, Boed.

That's why the first thing propagandists destroy are the words (concepts) one needs to describe the world around us.

 

[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....

Yeah and every element is oxygen if you're a fucking ignoramous about chemistry.

Words matter, fool.

You can call it di-hydrogen monoxide if you want...It's still CO2, dickweed.

 

[Oddball]

I'm not going to support an interpretation that fiat currency belongs to the government and that the government can take it back.

You missed the point...It doesn't belong to gubmint either.

But they have installed themselves, via legal tender and tax laws, as the enforcer/protection racketeer for the Fed and, by extension, World Bank, IMF, BIS, etcetera.

 

[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.

In practice I completely agree with you.

In theory, not.

In theory, capitalism isn't theft of the weak by the strong, either.

In practice, that's what our form of capitalism has become...a Kleptocracy by monetary manipulation

Words matter, Boed.

That's why the first thing propagandists destroy are the words (concepts) one needs to describe the world around us.

The kleptocracy of monetary manipulation is a Government-Crony partnership - it is Not Capitalism.

As to the strong preying on the weak, the is exactly how Socialism and Communism function, with distorted definitions of "strong" and "weak". Substitute "politically connected/powerful" for "strong, and everyone not so is weak in such a statist construct.

 

[editec]

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.

Socialism does not get to just take people's savings.

Neither does capitalism, democracy, socialism, or communism.

Kleptocrats get to take whatever the fuck they want using whatever lame-assed excuse they can come up with.

Kleptocracy just a right word to describe what is happening and what Cyprus clearly has become if they go through with this -- Then that government (no matter what it calls itself) is a KLEPTOCRACY...a nation run by a criminal goverment.

Words matter.

 

[boedicca]

I'm not going to support an interpretation that fiat currency belongs to the government and that the government can take it back.

You missed the point...It doesn't belong to gubmint either.

But they have installed themselves, via legal tender and tax laws, as the enforcer/protection racketeer for the Fed and, by extension, World Bank, IMF, BIS, etcetera.

I understand. I disagree they should have that power, and refuse to concede it is lawful.

 

[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.

Socialism does not get to just take people's savings.

Neither does capitalism, democracy, socialism, or communism.

Kleptocrats get to take whatever the fuck they want using whatever lame-assed excuse they can come up with.

Kleptocracy just a right word to describe what is happening and what Cyprus clearly has become if they go through with this -- Then that government (no matter what it calls itself) is a KLEPTOCRACY...a nation run by a criminal goverment.

Words matter.

Socialism and Communism don't take people's savings?

Gee, tell that to the Russians.

History matters. Get some.

 

[Oddball]

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

In practice I completely agree with you.

In theory, not.

In theory, capitalism isn't theft of the weak by the strong, either.

In practice, that's what our form of capitalism has become...a Kleptocracy by monetary manipulation

Words matter, Boed.

That's why the first thing propagandists destroy are the words (concepts) one needs to describe the world around us.

The kleptocracy of monetary manipulation is a Government-Crony partnership - it is Not Capitalism.

As to the strong preying on the weak, the is exactly how Socialism and Communism function, with distorted definitions of "strong" and "weak". Substitute "politically connected/powerful" for "strong, and everyone not so is weak in such a statist construct.

Ford, Chevy, Toyota...It's still a car.

 

[Dont Taz Me Bro]

Socialism does not get to just take people's savings.

Neither does capitalism, democracy, socialism, or communism.

Kleptocrats get to take whatever the fuck they want using whatever lame-assed excuse they can come up with.

Kleptocracy just a right word to describe what is happening and what Cyprus clearly has become if they go through with this -- Then that government (no matter what it calls itself) is a KLEPTOCRACY...a nation run by a criminal goverment.

Words matter.

In Communism nobody has any savings to take.

 

[Trajan]

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.

what the Europeans didn't realize ( well tome did the brits etc.) is the EU and the Euro was never meant to do anything but pull back on their freedom, liberty and what property rights they had...the table has been set.

the mess in Cyprus wherein the Germans and IMF unwittingly(?) are helping the Russians very possibly secure a HUGE petroleum asset is, well, unreal....all to what? save the Euro?

if the Cypriot banksters took all of the $ the EU demands they pony up as their part of the bargain from above the 100k Euro level, the people below would be safe as their money is ostensibly guaranteed........and the ones taking the hair cut would be any bank(s) creditors etc....instead they are socializing the losses, which the European baking Union said would not happen until the haircuts were handed out and had exhausted those creditors.....


if this goes thru, the slippery slope just got a hole lot more slippery and the down angle has increased for everyone.

 

[American_Jihad]

Road to Serfdom: Eurocrats to Seize Citizen Money from Bank Accounts

March 19, 2013
By Arnold Ahlert

Cypriots are getting a firsthand look at what happens when EU elitists, as Margaret Thatcher famously remarked, “run out of other people’s money to spend.” On Saturday, in exchange for an EU bailout of $12.96 billion for a nation on the verge of bankruptcy, it was proposed that individual bank account deposits would be subjected to outright confiscation being promoted as a “wealth tax.” Deposits of $130,000 or more will be hit at a rate of 9.9 percent, while depositors who fall below that threshold with be taxed at a rate of 6.75 percent.

The idea was initially proposed by Cypriot President Nicos Anastasiades last Friday. ”We’re not aiming to gloss over the situation,” he said after the EU-IMF meeting in Brussels agreed with that idea early Saturday. “The solution taken may be painful, but it was the only one” worth taking, he added. The move would reportedly raise as much as $7.76 billion of the nearly $13 billion needed to bail out Cypriot banks devastated by billions of dollars of losses in investments in Greek banks.

Yet this bailout, or more accurately described by CNN as a “bail in” of ordinary people–to pay for the mistakes made by bankers–is unprecedented. Yet the effects of this policy were eminently predictable: Cypriots spent the weekend withdrawing their funds from bank machines all over the nation.

...

Road to Serfdom: Eurocrats to Seize Citizen Money from Bank Accounts

 

[ScreamingEagle]

Savings seizures are nothing new.
There is a plan, a liberal plan in the USA, to seize IRA accounts and 401k plans in order to shore up the collapsing Ponzi scheme we call social security.
The beverage plan much the same back in 46, to create the state pension scheme in the UK.
I'm betting Obama has a major boner thinking about how he can rob more Americans using this scheme!

(moved this to politics)