Socialists' goal finally being attained: Cyprus govt confiscates 10% of savings accts

[Little-Acorn]

The goal of socialism in general, has always been to convince people that what they produced and earned, isn't really theirs, but can be taken by government to distribute as they please.

The leftists in Cyprus are now beginning to reach the nirvana they have been seeking for so long. The Cypriot government has abruptly confiscated up to 10% of everyone's savings accounts, and then closed all banks to protect the rest of what they appear to consider "their" money from the ignorant masses.

You voted for that government, Cyprus citizens. Didn't think they would do that, did you?

Are you watching this, America?

You're next, you know.

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Cypriot deposits grab shocks savers across Europe | CNS News

Cypriot deposits grab shocks savers across Europe

March 18, 2013
by Staff, Associated Press

NICOSIA, Cyprus (AP) — A plan to seize up to 10 percent of people's savings in the small Mediterranean island nation of Cyprus sent shockwaves across Europe on Monday as households realized the money they have in the bank may not be safe.

A weekend agreement between Cyprus and its European partners called for the government to raid bank accounts as part of a €15.8 billion ($20.4 billion) financial bailout, the first time in the eurozone's crisis that the prospect of seizing individuals' savings has been raised.

Facing outrage, Cypriot authorities delayed a parliamentary vote on the seizure and ordered banks to remain shut until Thursday while it tries to modify the deal to reduce the hit on people with small deposits.

Several hundred protesters gathered outside the parliament building, with some chanting "thieves, thieves" and "people wake up, they're drinking your blood." One demonstrator dumped sheep wool and animal feces in front of a line of police officers guarding the entrance. Protesters later marched onto the presidential palace.

"It's a precedent for all European countries. Their money in every bank is not safe," said lawyer Simos Angelides.

In order to get €10 billion ($13 billion) in bailout loans from international creditors, Cyprus agreed to take a percentage of all deposits — including ordinary citizens' savings. The surprise deal stoked fears that deposits in other countries could be targeted.

 

[bucs90]

Never happen here.

 

[Little-Acorn]

You voted for that government, Cyprus citizens. Didn't think they would do that, did you?

Never happen here.

I rest my case.

 

[BreezeWood]

the socialist do not even favor having banks, much less allowing banks to confiscate citizens deposits.

you are referring to European Corporatists.

 

[TNHarley]

^Dont they like to nationalize banks?

 

[Little-Acorn]

the socialist do not even favor having banks, much less allowing banks to confiscate citizens deposits.

The socialists in Cyprus liked them fine: They are a great place to find Other People's Money.

 

[g5000]

Cypress banks have been used to launder Russian gangster money and money embezzled by Russian politicians. Over $30 billion of Russian money is in those banks.

Hell, for all we know, Osama bin Laden was banking there. Cypress asks no questions.

Cypress, in turn, invested all that depositor money in toxic assets. Like Greece sovereign debt. BWA-HA-HA-HA!

And now the banks are ruined, and are asking for a bailout. A bailout to cover its deposits.

You know, to cover the money they are holding for Russian gangsters and stuff.

Yeah.

So the IMF, and the EU, and particularly Germany, are saying the depositors need to feel some pain if they are going to be bailed out.

Yes, the Cypriot small depositor is being punished, too. Unjustly so. But this is really aimed at that more than $30 billion of shady money.

 

[Mad Scientist]

Never happen here.

You've obviously never heard of John Corzine and MF Global?

Cypress banks have been used to launder Russian gangster money and money embezzled by Russian politicians. Over $30 billion of Russian money is in those banks.

So everyone who put money in that Bank deserves to pay for what Russian Mobsters do?

This was done on orders from the EU and Cristine Legarde. But I'm glad to see you support the Banks and not the Legislatures.

 

[Mad Scientist]

the socialist do not even favor having banks, much less allowing banks to confiscate citizens deposits.

you are referring to European Corporatists.

Not true! Banks financed the Russian Revolution!

 

[bripat9643]

Never happen here.

That's only because here the government can simply roll the printing presses and inflate that money away. Cyprus can't do that because they don't control their own currency. However, the end result is exactly the same: your savings are gone.

 

[Hum Dinger]

Cyprus has dug themselves into a hole because of a long history of conservative tax policy - now they're paying the price - they are forced to confiscate savings that they should have gotten in taxes in past years.

Another Tax Haven going down the drain:

Cyprus is Most Attractive Offshore Tax Haven

Too bad the American stock market is effected by a tiny little shit hole like Cyprus, but that only shows who really owns America.

 

[JakeStarkey]

The confiscation is not socialism, it is authoritarianism.

Look up the terms, learn their definitions, and use them correctly.

You pull this in a government classroom, and you would get slapped down by the prof.

 

[Angry_Vegetable]

What does socialism have to do with confiscating depositor's accounts to shield senior bondholders?

 

[JakeStarkey]

OP fail.

 

[Emir]

OP fail.

Yeah, he jumped the gun a bit. The bill referenced in the OP failed to pass the Cypriot government on Tuesday, so Cyprus is scrambling around for other ways to find 5.8 billion euros. One interesting idea which has been floated is that Russia might provide the cash if Cyprus allows Russia to construct a naval base on the island.

 

[American_Jihad]

Cyprus and the Rotten Union of Big Government & Big Finance


March 21, 2013
By Mark Hendrickson

...

The inexorable trend of this “rule of expediency” in place of the rule of law is increasing centralization of power and the progressive absorption and confiscation of wealth for the state’s purposes. Compounding the ugliness of this grim process is the fact that the key decisions and policies are made by unelected officials. Central bankers are accountable to the governments that appoint them in a technical de jure sense, but in a de facto sense, they have free rein. Even less accountable are those who run the IMF. This mid-‘40s monstrosity was one of the first multilateral agencies to be created. The American official who helped to set up this bureaucracy designed to redistribute wealth from American and European taxpayers to often corrupt and illiberal governments was Harry Dexter White, who turned out to be a secret member of the Communist Party. If he were here today, he would have the satisfaction of seeing his baby sitting astride the financial system of the globe, dispensing billions of dollars and dictating policies to once-sovereign governments.

In short, there is a lot more at stake in Cyprus’s banking crisis than the ultimate fate of a Russian cabal’s loot or even the fate of the euro currency itself. This is a significant step on the road away from liberty and sovereignty and toward rule by illiberal global bureaucracies.

Cyprus and the Rotten Union of Big Government & Big Finance

 

[blackcherry]

Clowns . Check your facts first .
Rounds one and two have been completed . Proposals and their rejection .
There are several rounds to follow , with Russia being slapped hard for its part in this mire of corruption .
A great deal of what has happened is directly linked to the Magnitsky Bill --- an American piece of legislation .
Most of you have not got a clue about News sub texts

 

[Politico]

Yeah so this thread was a lie.

 

[blackcherry]

Yeah so this thread was a lie.

No .
Just rubbish .
Nobody has confiscated anything yet .

 

[Saigon]

How long has Cyprus had socialist government?

Honestly, OP, could you really not spend 5 seconds on google to determine what kind of government Cyprus had before posting this shit?

The Democratic Rally (Greek: Δημοκρατικός Συναγερμός, Dimokratikós Sinayermós, DISY), is a conservative[1] and Christian-democratic[1] political party in Cyprus, led by Nicos Anastasiades, the president of the Republic of Cyprus.[2] The party was founded on 4 July 1976 by veteran politician Glafkos Klerides. Kerides served as Cyprus president from 1993 until 2003.

Democratic Rally - Wikipedia, the free encyclopedia

Have a little self-respect, man!!