Shock in Cyprus as savers face bailout levy

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posted on Mar, 17 2013 @ 07:55 PM
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Originally posted by Ben81

Originally posted by benrl
And people wonder why the push for gun control here in the states is so prevalent, Imagine what that happening in the states would look like with an armed populace.


Thats why they have to remove the guns from the populace before making a similar move

thiefs dont like victims who can defend themself


While the push for gun control does concern me greatly, until the general public is willing to die for their rights, you will not see any kind of real revolution in the US.


Revolution, when it does come, will come from people who have never had freedom and want it.... Not from those who had it and wasted it away with apathy.




posted on Mar, 17 2013 @ 08:10 PM
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The whole bailout is not for the people of Cyprus, but Russian mafia and billionaires, oligarhs.

There was a thorough analysis of the whole Cyprus scandal in a well-reputated magasine here with good sources.

Cyprus is well-known area for money laundering. It is estimated that Russians hold over 20 billion euros in their banks. If any bank would fall, their money would be lost.

The Russian money does not only flow in, but also out. During the last 5 years over 52 billion euros has been moved from Cyprus to Russians banks. Cyprus gives out their nationality really easily and it is used in order to hide the "black money" as the Russians do not appear as russians but EU citizens. Besides that their business taxes are extremely low, which makes it an easy place to make shadow companies. I even know several people from here who have their compnies to Cyprus simply to get lower taxes.

As it is extremely tough for the authorities to track any money flowing in or.out of Cyprus. The whole bail-out was simply pushed through buy the finances coming from Russia...



posted on Mar, 17 2013 @ 09:30 PM
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The 9.9 percent levy on accounts over €100,000 and 6.75 percent below that mark is a bold step in the Eurozone’s ongoing financial fire fight. As much as this can close the gap without promoting further ire from taxpayers in other countries, it can potentially spark a panic amongst investors and citizens in the region. Regardless of Cyprus’ size or influence in the economic and monetary union, a dangerous precedence could be interpreted in this move. Despite vows that this was a unique situation, what is the likelihood that this could be an option in Greece if ‘regular’ measures keep falling short? Could it be an option for a ‘core’ member?



posted on Mar, 17 2013 @ 09:41 PM
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The crazyness and desperation to fix the economy with fraud is getting worse and worse.Most people on this website warn or talk about what is happening and possible eventual collapse and war with Iran and North Korea could happen as well before to long.



posted on Mar, 17 2013 @ 10:43 PM
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Anybody remember this a couple days ago also on drudge? It was the main headline I believe

U.S. to let spy agencies scour Americans' finances
www.reuters.com...

Strange timing? It explains how it gives the CIA the right to bring together financial databases of US citizens under the name if terrorism..

As for Cyprus, I cant see Putin letting his 1% having 10% of their wealth go *poof*
edit on 17-3-2013 by rmo4lx because: putin



posted on Mar, 17 2013 @ 11:12 PM
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reply to post by rmo4lx
 


Excellent connection! Yes, they are going to scour our finances. Additionally, various comment sections of financial industry news reports are talking about the FDIC changes which went through at the beginning fof the year (effectively lowering your coverage across all accounts instead of being insured for the full FDIC on EACH account). Oh, there was another change in February that also seemed to point to a Cyprus scenario "coming soon to a U.S. bank near you" but my mind is muddy and it was tangential to the main idea I was pursuing at the time. I will post if I can remember or find it again but my impression was clearly that it was an indication of this being in possible planning stage for the U.S. After the guns are gone, of course.



posted on Mar, 17 2013 @ 11:55 PM
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reply to post by WatchRider
 

I said this in a duplicate thread on this topic:

This was to be expected for those who kept an eye on Lagarde and her criminal bankster peers.
I'm not saying the Cypriots deserve this in any way though... Michael Sarris is a traitor to the people of his country IMO.

For those who didn't see this coming: this should be your final wakeup call.
This is exactly why the Banksters cannot be trusted.



posted on Mar, 18 2013 @ 12:02 AM
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reply to post by watcher3339
 


The American people would have a collective coronary. It'll never happen. I would give it less than a week before "secession" is in the top 10 google searches.



posted on Mar, 18 2013 @ 12:08 AM
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reply to post by pjfry
 


Originally posted by pjfry
Now both options are bad:

a) let all european taxpayers bail the banks out for 15 bil

b) let all european taxpayers bail the banks out for 10 bil and get the other 5 bil from the ppl who profited from the high interest rates over the years.


You forgot to list option c)... Pull an "Iceland".

Let the Banks collapse on their sceme and put the Banksters on trial.

Leave the EU and tell Lagarde and her criminal ilk to suck it... then have a fresh start with a souvereign currency and recover Iceland-style.
edit on 18-3-2013 by ColCurious because: (no reason given)



posted on Mar, 18 2013 @ 12:58 AM
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Update:

Dow set to open down 170 points, S&P down 22. US dollar up over 1% (flight to quality)

Germany and UK down 2% respectively. All eyes on US open. Guess the markets are pricing in confiscation 'risk'.



posted on Mar, 18 2013 @ 11:08 AM
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reply to post by Cabin
 


Thanks for your post. As least there is someone still searching for the truth.

Those who howl and yell bloody murder on EU's term best stick to the facts and not attempt to be vocally loud to stifle others.

1. If Cyprus had been so well managed, it would never had needed a bailout. It goes to show how mismanaged that they had been all along, and now needs to beg for funds to survive. This is not EU's fault. They were the rulers and thus have to take full responsiblility for their mismanagement.


2. Cyprus had long been known as a tax haven for all sorts of criminal gangs and thieves from russia, due to its lax banking regulations, long warned by EU to wise up.

But they refused to listen, and today, they are in trouble. They have not enough funds to pay back despositors due to their greedy ways of offering cheap loans to anyone in the past, and will collapse when the bank run starts.

And thus their begging bowls to EU.

EU will help, but there must be conditions for the bailout. EU is willing to help they cypriots people with their own money, espacially germans, BUT only to cypriots and NOT TO Russian criminals and thieves whom HAD ROBBED their own russian people blind, through thievery and corruption. No sense in bailing out crooks.

If Cyprus refuses the bailout conditions, then it has only themselves to blame and face collapse. This is the consequences it must face, a responsibility ALL its citizens must accept for allowing their leaders to mismanage the economy. EU did not rule in Cyprus or manage the economy. Only its own leaders did, and must take the fall, and blame no one else.

Emperor Putin had swore and rage today. Go ahead. Offer the cyprus govt bailout and PROVE once and for all to its citizens, of what and who he really is - supporter of russian crooks whom had cheated the russian masses blind.

Some say corrupt money and laundered funds exists in other nations as well. But the truth is that in WELL REGULATED banks in other nations, espacially the west, such funds can be tracked and identified, for corruption is a scourge of mankind and must be eradicated or nations will not prosper with shared wealth, for it prosper only the corrupt.

In recent times, many banks had been indicted and charged, and made to pay huge sums for their support of corruption and launderings. But a few more still exists and they too best be prepared to be found out one day as much needed reform and regulation will be imposed upon banks to end their free wheeling days which almost doom mankind in 2008 with its financial crisis, discovered first in US and revealed many other nations' bankers in the scam against their own citizens as well.


3. The crooks are not stupid and had spread the rumours that ALL banks will be made to pay a 10% tax on their deposits. This is baseless, but comprehensible, comming out from crooks trying to gain mass support to not let Cyprus do what they should rightfull do - impose that tax.

Other nations, as long as they are reformed, well managed and responsible, will not need to borrow the kind of funds many banks had done as in the past. Most had wisened up, thankfully, and thus depositors need not fear in strong countries where rule of law governs the land.

For banks with tyrant or crook demagogue rulers, then they best worry for their deposits, for the only law that is followed is whatever the tyrant mouthed in the morning and changeable by afternoon, and changeable yet again and again over time. History is replete with tyranny rule and best mankind not forget.





edit on 18-3-2013 by SeekerofTruth101 because: (no reason given)



posted on Mar, 18 2013 @ 01:39 PM
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Originally posted by SeekerofTruth101
reply to post by Cabin
 


Thanks for your post. As least there is someone still searching for the truth.

Those who howl and yell bloody murder on EU's term best stick to the facts and not attempt to be vocally loud to stifle others.

1. If Cyprus had been so well managed, it would never had needed a bailout. It goes to show how mismanaged that they had been all along, and now needs to beg for funds to survive. This is not EU's fault. They were the rulers and thus have to take full responsiblility for their mismanagement.


2. Cyprus had long been known as a tax haven for all sorts of criminal gangs and thieves from russia, due to its lax banking regulations, long warned by EU to wise up.

But they refused to listen, and today, they are in trouble. They have not enough funds to pay back despositors due to their greedy ways of offering cheap loans to anyone in the past, and will collapse when the bank run starts.

And thus their begging bowls to EU.

EU will help, but there must be conditions for the bailout. EU is willing to help they cypriots people with their own money, espacially germans, BUT only to cypriots and NOT TO Russian criminals and thieves whom HAD ROBBED their own russian people blind, through thievery and corruption. No sense in bailing out crooks.

If Cyprus refuses the bailout conditions, then it has only themselves to blame and face collapse. This is the consequences it must face, a responsibility ALL its citizens must accept for allowing their leaders to mismanage the economy. EU did not rule in Cyprus or manage the economy. Only its own leaders did, and must take the fall, and blame no one else.

Emperor Putin had swore and rage today. Go ahead. Offer the cyprus govt bailout and PROVE once and for all to its citizens, of what and who he really is - supporter of russian crooks whom had cheated the russian masses blind.

Some say corrupt money and laundered funds exists in other nations as well. But the truth is that in WELL REGULATED banks in other nations, espacially the west, such funds can be tracked and identified, for corruption is a scourge of mankind and must be eradicated or nations will not prosper with shared wealth, for it prosper only the corrupt.

In recent times, many banks had been indicted and charged, and made to pay huge sums for their support of corruption and launderings. But a few more still exists and they too best be prepared to be found out one day as much needed reform and regulation will be imposed upon banks to end their free wheeling days which almost doom mankind in 2008 with its financial crisis, discovered first in US and revealed many other nations' bankers in the scam against their own citizens as well.


3. The crooks are not stupid and had spread the rumours that ALL banks will be made to pay a 10% tax on their deposits. This is baseless, but comprehensible, comming out from crooks trying to gain mass support to not let Cyprus do what they should rightfull do - impose that tax.

Other nations, as long as they are reformed, well managed and responsible, will not need to borrow the kind of funds many banks had done as in the past. Most had wisened up, thankfully, and thus depositors need not fear in strong countries where rule of law governs the land.

For banks with tyrant or crook demagogue rulers, then they best worry for their deposits, for the only law that is followed is whatever the tyrant mouthed in the morning and changeable by afternoon, and changeable yet again and again over time. History is replete with tyranny rule and best mankind not forget.





edit on 18-3-2013 by SeekerofTruth101 because: (no reason given)


1. Germany wasn't complaining when the cheap money they were loaning into southern Europe was being used to buy German exports thereby creating a greater export base than they would otherwise have had. Yes, they have a decent economic model regarding their exports but to pretend they there weren't involved and that this is all Southern Europe is rather skating the facts.
2. Cyprus loaned a lot of money to Greece. The E.U. at large wasn't complaining when Cyprus loans to Greece were helping to keep Greece afloat and minimize risk to the Euro. Then an EU bailout decreed that Cyprus (and others) wouldn't get paid what they were owed.
3. It doesn't matter what either of us say or who did what...rule of law and contractual understanding (at the very least in spirit and most likely in actual fact) has been violated by this ex post facto levy or tax. The foundations of mondern banking and deposit insurance have also been dealt a severe blow that will have long reaching and long lasting ramifications. This move was wrong, likely criminal, stupid, and incendiary. I also believe it was a trial run.
edit on 18-3-2013 by watcher3339 because: (no reason given)



posted on Mar, 18 2013 @ 02:43 PM
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1. If the wheel aint broke, there is no need to fix it, and so thus human nature to leave things as it is as the economy had hummed along, despite warnings by EU to Cyprus leaders and bankers to their exposures.

2. No one POINTED a gun at the head of Cyprus to loan money to Greece. They did so only their own free will, and should HAVE performed due diligence on such loans. But did they? None. Greed over-ruled all sense, and today, there is no need to blame anyone else, for no gun was pointed, except by those who made those loans.

High time humans take responsibility for their actions, more so bankers whom are one of the most educated folks in terms of banking on earth and had been ROBBING the best of intelligent graduates into their industry instead of letting engineering, science and arts have a fair share.


3. In a time of emergency, national survival of the PEOPLE supercedes all laws. And today, Cyprus is in clear and present danger of economic collapse as a society. The tax, no doubt should hit the top tier instead of broadbasedly all citizens, but is no different from other forms of taxes such as wealth tax, luxury tax, etc to save the nation from economic disaster, as done throughout the course of our human civilisation.

The only ones whom are stupid, criminal and incendiary, are the ones whom will rather see society collapse and everyone return to jungles - survival of the fittests, an anarchist world aka mad max style.

The tax seeks only 10%, and not 100% as the crooks want society to believe. Best they accept this generous offer, but if they continue to make more noise, rest assured - it will be 100% when Cyprus gets no bailout funds and the mass citizen cypriots, whom will be the first, to queue up overnight to take every dime out.

Wake up.
edit on 18-3-2013 by SeekerofTruth101 because: (no reason given)



posted on Mar, 18 2013 @ 02:56 PM
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Originally posted by SeekerofTruth101
1. If the wheel aint broke, there is no need to fix it, and so thus human nature to leave things as it is as the economy had hummed along, despite warnings by EU to Cyprus leaders and bankers to their exposures.

2. No one POINTED a gun at the head of Cyprus to loan money to Greece. They did so only their own free will, and should HAVE performed due diligence on such loans. But did they? None. Greed over-ruled all sense, and today, there is no need to blame anyone else, for no gun was pointed, except by those who made those loans.

High time humans take responsibility for their actions, more so bankers whom are one of the most educated folks in terms of banking on earth and had been ROBBING the best of intelligent graduates into their industry instead of letting engineering, science and arts have a fair share.


3. In a time of emergency, national survival of the PEOPLE supercedes all laws. And today, Cyprus is in clear and present danger of economic collapse as a society. The tax, no doubt should hit the top tier instead of broadbasedly all citizens, but is no different from other forms of taxes such as wealth tax, luxury tax, etc to save the nation from economic disaster, as done throughout the course of our human civilisation.

The only ones whom are stupid, criminal and incendiary, are the ones whom will rather see society collapse and everyone return to jungles - survival of the fittests, an anarchist world aka mad max style.

The tax seeks only 10%, and not 100% as the crooks want society to believe. Best they accept this generous offer, but if they continue to make more noise, rest assured - it will be 100% when Cyprus gets no bailout funds and the mass citizen cypriots, whom will be the first, to queue up overnight to take every dime out.

Wake up.
edit on 18-3-2013 by SeekerofTruth101 because: (no reason given)


I am wide awake. This is theft. The business agreement was that the accounts were insured to 100,000 Euros. Let the bank fail. Reimburse according to the policies that all players agreed to abide by. It isn't fair to change the rules in the middle of the game. The actions that brought this about (in many countries and not all E.U.) will only end when the failure part of capitalism is allowed to acutally happen. The Cyprus banks should fail and those to whom they owe money beyond regular deposit insurance take the consequences of their risky investments. Those who put cash in a bank with an assurance of deposit security should not be robbed.



posted on Mar, 18 2013 @ 03:44 PM
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reply to post by watcher3339
 


Theft? Money launderers calling 10% as theft? That's laughable.

But by all means, go ahead, disagree with the terms and conditions for loan, and then let the economy collapse.

Guarantee for deposits of $100,000 and below? When the govt and biz enterprises are bankrupt? Where is the money coming from?

You may think you woke up, but look at the facts, you are still sleeping and dreaming away, unaware the nightmare of reality waits for you when you wake up.
edit on 18-3-2013 by SeekerofTruth101 because: (no reason given)



posted on Mar, 18 2013 @ 03:49 PM
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Originally posted by SeekerofTruth101
reply to post by watcher3339
 


Theft? Money launderers calling 10% as theft? That's laughable.

But by all means, go ahead, disagree with the terms and conditions for loan, and then let the economy collapse.

Guarantee for deposits of $100,000 and below? When the govt and biz enterprises are bankrupt? Where is the money coming from?

You may think you woke up, but look at the facts, you are still sleeping and dreaming away, unaware the nightmare of reality waits for you when you wake up.
edit on 18-3-2013 by SeekerofTruth101 because: (no reason given)


Your plan perpetuates the failed system. When something fails let it fails. That is capitalism. Now, if you want to call out your allegiance to some other economic system -- go for it. Then we will disagree on basis of that -- but you can't claim to be a capitalist and support just taking money that doens't belong to you to support an enterprise that failed. That isn't how it works. And, the more we interfere in letting it work the way it is supposed to work the more of these issues we will have all around the world. I think you need to keep looking Seeker, truth has elluded you. Theft is theft. Right is right. Wrong is wrong.



posted on Mar, 18 2013 @ 03:50 PM
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reply to post by SeekerofTruth101
 
With respect, Cyprus, as in the common men women did not lend money to Greece, their leaders chose to do this. What happened to accountability for our own actions? Let the leaders pay for the debt and let the bankers pay for their own mistakes. Do not take money unlawfully from the common people. Common people do not like being robbed and the common people can crash a system when they're cross a lot faster than any Conspiritor in high places.
Little people are constantly criminalised for the slightest error and yet leaders can be fraudsters, thieves, war criminals and just plain stupid idiots and are protected by the police who are supposed to be locking up the bad people. What an upside down world! Lets bring back personal accountability to high ranking officials. Iceland have set an excellent example!



posted on Mar, 18 2013 @ 04:22 PM
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Originally posted by Elliot
With respect, Cyprus, as in the common men women did not lend money to Greece, their leaders chose to do this. What happened to accountability for our own actions? Let the leaders pay for the debt and let the bankers pay for their own mistakes. Do not take money unlawfully from the common people. Common people do not like being robbed and the common people can crash a system when they're cross a lot faster than any Conspiritor in high places.
Little people are constantly criminalised for the slightest error and yet leaders can be fraudsters, thieves, war criminals and just plain stupid idiots and are protected by the police who are supposed to be locking up the bad people. What an upside down world! Lets bring back personal accountability to high ranking officials. Iceland have set an excellent example!




I fully agree with you that the common men and women should not be made to pay for those mistakes leaders made.

There must be accountability.

But where lays accountability when it was the common masses whom elect their own to govern the land?

It lays with the citizens, for sadly allowing this mistake to happen and be misled. There is often a price to be made for mistakes made. and thus the critical importance of rule of law and human rights with freedom of speech, to speak up over wrong doings of its leaders before errors occur.

Cyprus had a long history of being a haven for corrupt criminals, and the EU had long warned about the banks and regulatory measures, the lack of them in the financial system but were ignore. Today, the day of reckoning had came.

Yet EU, and espacially German citizens, had not abandon their fellow europeans the cypriots. The issue of tax amount was determined by the Cyprus leaders, and EU is prepared to accept if the cypriots at the lower tiers are asked of lesser or no tax, and the top tiers asked of more to save the economy, so long as it makes up the full amount needed to escape collapse.

Basically, EU and Germany taxpayers and savers are prepared to help cypriots, but certainly NOT prepared to help the rich and criminals.

Most of the rich and criminals are not stupid, for they know of the $100,000 guarantee on deposits, thus what they did was to split up their ill begotten gains into smaller amounts less than $100.000 and spread out across SEVERAL Cyprus banking institutions to ensure they survive, similar in tactic of terrorists hiding amongst civilian population to cause mayhem as the authorities will have difficulty in find out who is who to target, and in the case of financial criminals in the Cyprus banking sector, made worse by the lax regulatory standards of tracking who is who, and thus a general 10% tax.

I have no wish to see the innocent suffer, but neither do the insignificant nobody me wish to see the criminal and hoarders get away scott free in this time of ermergency, and thus my hope is that the truly small single account holder be allowed to have no tax and keep his/her money in the bank to prevent being held up by robbers at home, while the criminals be made to pay, at least most generous by EU standards instead of the courts whereby they can be stripped of it all.
edit on 18-3-2013 by SeekerofTruth101 because: (no reason given)



posted on Mar, 18 2013 @ 05:13 PM
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reply to post by SeekerofTruth101
 

Never mind any so-called money launderers (most of the civilised world does it in one shape or another) ordinary workers are being STOLEN FROM!

If you justify thieves stealing from a person maybe you should just get off this thread because no-one will support you.

Perhaps you'd even justify enslavement if there was a very vague 'justification' in it...



posted on Mar, 18 2013 @ 05:55 PM
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reply to post by WatchRider
 


Perhaps there is yet hope for the world, as Cyprus's own parliament cannot be convinced this is the right way to go about raiding, I mean raising money...
money.cnn.com...#!/2013/03/18/news/economy/europe-cyprus-bailout.json?category=Latest%20News





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