I don't think that this would happen in the US. The Federal Reserve can print money and there's little gain of skimming 10% from bank accounts.
After The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It EVERYWHERECyprus is a beta test. The banksters are trying to commit bank robbery in broad daylight, and they are eager to see if the rest of the world will let them get away with it. Cyprus was probably chosen because it is very small (therefore nobody will care too much about it) and because there is a lot of foreign (i.e. Russian) money parked there. The IMF and the EU could have easily bailed out Cyprus without any trouble whatsoever, but they purposely decided not to do that. Instead, they decided that this would be a great time to test the idea of a "wealth tax". The government of Cyprus was given two options by the IMF and the EU - either they could confiscate money from private bank accounts or they could leave the eurozone. Apparently this was presented as a "take it or leave it" proposition, and many are using the world "blackmail" to describe what has happened. Sadly, this decision is going to set a very ominous precedent for the future and it is going to have ripple effects far beyond Cyprus. After the banksters steal money from bank accounts in Cyprus they will start doing it everywhere. If this "bank robbery" goes well, it will only be a matter of time before depositors in nations such as Greece, Italy, Spain and Portugal are asked to take "haircuts" as well. And what will happen one day when the U.S. financial system collapses? Will U.S. bank accounts also be hit with a "one time" wealth tax? That is very frightening to think about.
Cyprus is a very small nation, so it is not the amount of money involved that is such a big deal. Rather, the reason why this is all so troubling is that this "wealth tax" is shattering confidence in the European banking system. Never before have the banksters come directly after bank accounts.
If everything goes according to plan, every bank account in Cyprus will be hit with a "one time fee" this week. Accounts with less than 100,000 euros will be hit with a 6.75% tax, and accounts with more than 100,000 euros will be hit with a 9.9% tax.
How would you feel if something like this happened where you live?
How would you feel if the banksters suddenly demanded that you hand over 10 percent of all the money that you had in the bank?
And why would anyone want to still put money into the bank in nations such as Greece, Italy, Spain or Portugal after all of this?
One writer for Forbes has called this "probably the single most inexplicably irresponsible decision in banking supervision in the advanced world since the 1930s." And I would agree with that statement. I certainly did not expect to see anything like this in Europe. This is going to cause people to pull money out of banks all over the continent. If I was living in Europe (and especially if I was living in one of the more financially-troubled countries) that is exactly what I would be doing.
The bank runs that we witnessed in Cyprus over the weekend may just be a preview of what is coming. When this "wealth tax" was announced, it triggered a run on the ATMs and many of them ran out of cash very rapidly. A bank holiday was declared for Monday, and all electronic transfers of money were banned.
Needless to say, the people of Cyprus were not too pleased about all of this. In fact, one very angry man actually parked his bulldozer outside of one bank branch and threatened to physically bulldoze his way inside.
But this robbery by the banksters has not been completed yet. First, the Cypriot Parliament must approve the new law authorizing this wealth confiscation on Monday. If it is approved, then the actually wealth confiscation will take place on Tuesday morning.
According to Reuters, the new president of Cyprus is warning that if the bank account tax is not approved the two largest banks in Cyprus will collapse and there will be complete and total financial chaos in his country...
These days it is not good to leave your money at the banks, what are your thought about this?
Fortunately, we do not have any overseeing authority that can take money from everyone's bank accounts, although Federal employees do have access to your bank accounts through ObamaCare and presumably can extract funds simply though a change in regulations, which does not require any support from Congress or the Senate.
Something like what we are seeing in the EU would trigger another revolution in the USA.
I predict that the EU will drop the hold on the Cyprus bank account at their emergency meeting today. It may have just been a scare tactic to force people to realize that they can be held personally responsible for the irresponsible actions of their politicians.
"Democracy is two wolves and a lamb voting on what to have for lunch. Liberty is a well-armed lamb contesting the vote." -- Benjamin Franklin
LOL that's pretty ironic to see that the bankers want to held personally responsible for the irresponsable actions of their politicians. Who put us in this mess at the first place? Basically people are paying for the bank derregulations and their mistakes, remember that you do not loan money to countries that cannot reiumburse or live above their reimbursement capacity.
Look at Greece and how Goldman Sacks cooked the books...I believe that other countries in the euro zone cooked their books as well.
There are huge problem with political corruption in Greece, as well as politicians who got elected simply by offering more freebies to voters. That is how Geeks get to retire with full benefits at age 50. Lots of politicians in Greece have been accursed of stealing and misusing money that the EU provided to bail them out. I don't know enough about Cyprus to know how deep the level of corruption runs. Each country seems to have its own financial issues. In Spain, the green energy commitment is getting blamed by some people for bankrupting the system.
I don't think the issue is the size of the debt as much as the need to start holding countries responsible for their corruption and incompetence. If you think about it, putting the financial responsibility on citizens should be enough to prompt them to get rid of the politicians who got them into the mess. To take it one step further, those politicians did what they did with the full support of the people, so ultimately the responsibility does fall on the people.
The EU cannot continue to bail out countries who take advantage of the EU support systems. As one of my former colleagues in Germany says, "Why should I work until I am 75 so that Greeks can retire at 50?" He makes a very good point.
For what it is worth, here is the Alex Jones report.
In history many politicians spent the money of their country in the name of doing good things for the people, too often they abused their power to screw the people.
Look if it was really an democratic Europe, referendums would have being respected when people said NO to the EU like it was presented, instead our politicians sold us to bureaucrats and bankers. That's not better than a communist federation if you ask me.
In 30's the bankers supported nazis to develop an authoritarian Europe, they failed, now the same players are attempting another kind of authoritarian federation as communists.
I am just going to say this:
Cyprus was just a test case!
People did not ask for that....
And as a test case, it works well.
So well that hey, the EU can now fund their socialism by taxing ALL bank accounts in the EU.
Then the USA and other countries?
Bet they are salivating at just how they can get even more money from the makers to give to the takers!
Cyprus Parliament Refuses
Watch for the kaboom...... there are now reports that a solid majority of Cypriot Parlimentarians are refusing to go along with the confiscation demand for depositor funds.
There could be a very ugly showdown coming here as without enabling legislation there is a good chance that the locking of people's accounts could be considered theft by conversion and given the amounts involved this is not a petty offense!
I suspect, but cannot prove, that the reason for the IMF and ECB demand is that the ECB and other "protected" parties are the holders of the bonds in these banks, and had an orderly resolution process been carried out (or for that matter a disorderly bankruptcy) the result would have been a wipe-out of these institutions' holdings.
Rather than accept that, having willfully and intentionally looked the other way and accepted those bonds as collateral despite knowing they were worthless they attempted to steal the funds from the people to cover it.
If the Parliament says "nuts!" to that and decides to stand firm then we shall see if the ECB makes good on its threats and forces bankruptcy proceedings -- and whether the people of Cyprus decide in turn that they've had enough of this crap and start issuing Letters of Marque and Reprisal against Herr Merkel, Christine Lagarde, Mario Draghi and the rest of their institutions.
It's about damn time someone stood up to these jackals.
Cyprus Parliament Refuses in [Market-Ticker]
The IMF is the bank screwing everybody and every countries, just check how the Latino Americans kicked out the IMF and their infamous methods.
That's a take over by the bankers and they are just starting their dictatorship around the world.
Don't forget the interests that the Rothchilds may have in the EU financial mess. There are a lot of conspiracy theorists who claim that Europe's Rothchilds actually own and control the Federal Reserve in the USA. I don't know if it's true, but it would be interesting to find out how deeply they are involved.