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Thread: After The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It

  1. #21
    Read that this morning.

    Telling you, now there is no stopping the EU and how they can now grab money with impunity.
    Ireland, Greece, Italy, Spain, etal are now having to rethink the whole "why are we in the eu zone?" thing.

    I bet inside the next 30 to 60 days max, some democrat will put in a bill to do the same to bank deposits in the US.

    Or buck ofama will push for it.

    It's coming people!

  2. #22
    Quote Originally Posted by bogart View Post
    The final deal--Savers with more than £85,000 will lose up to 40 per cent of their money
    Ohhhh, the Rooskies are sure not going to like that. Watch them retaliate by dramatically raising the energy costs for Europe.

    This action will plunge Cyprus into a depression for years. I get a kick out of the comment in the article calling this "a fully funded solution." Wait until they see the long-term cost for this solution.

    Quote Originally Posted by iowadawg View Post
    I bet inside the next 30 to 60 days max, some democrat will put in a bill to do the same to bank deposits in the US.
    That's always a distinct possibility. Get ready with the torches and pitchforks!
    "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


  3. #23
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    Quote Originally Posted by TopDogger View Post
    Ohhhh, the Rooskies are sure not going to like that. Watch them retaliate by dramatically raising the energy costs for Europe.

    This action will plunge Cyprus into a depression for years. I get a kick out of the comment in the article calling this "a fully funded solution." Wait until they see the long-term cost for this solution.
    I wonder why they just didn't let the banks fail and pay the $100,000 deposit insurance? It doesn't seem like this is any worse than Bear Sterns and Lehman Brothers in terms of losses.

    Looks like Germany is trying to keep the PIIGS from failing until after the 2013 German Federal Elections which is in September.

  4. Quote Originally Posted by bogart View Post
    I wonder why they just didn't let the banks fail and pay the $100,000 deposit insurance? It doesn't seem like this is any worse than Bear Sterns and Lehman Brothers in terms of losses.

    Looks like Germany is trying to keep the PIIGS from failing until after the 2013 German Federal Elections which is in September.
    I read somewhere that the actual cash on hand for deposit "insurance" is somewhere around 5-50bn, where as a complete collapse would require somewhere around a 200bn. They can't raise capital because their national debt has been downgraded to junk status, and the assets held by the Cypriot banks are largely invested in private sector loans to Greeks.

    Funny, I didn't see this coming. Robbing the foreign(Russian) investors while allowing the poor Cypriots to keep their savings might actually prevent the ensuing riots. I suppose the downside is, it effectively ends Cyprus status as an Offshore Investment destination/tax shelter. With no other industry outside of tourism, I suspect the financial status of the average Cypriot is about to take a dramatic turn for the worse.

  5. #25
    Quote Originally Posted by bogart View Post
    I wonder why they just didn't let the banks fail and pay the $100,000 deposit insurance? It doesn't seem like this is any worse than Bear Sterns and Lehman Brothers in terms of losses.
    It is all a matter of who pays. If they actually have a deposit insurance fund, just like in the US it probably only represents a small fraction of the electronic funds in people's accounts. They undoubtedly calculated that the riots would be minimized if the let the average Cypriots accounts alone. The wealthy don't riot; they just get even, get out, or find away to go around the system.

    There will be repercussions from the Russians. I suspect this is going to cost the EU dearly. Russia is dominated by 7 major crime syndicates. They have very close ties with everything in Russia, especially the 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


  6. #26
    Th9is is truly scary. I never thought that I'd see private savings accounts raided. It is truly time to find somewhere else for your cash. Fireproof bag in a hole in the wall, somewhere?

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  7. #27
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    Quote Originally Posted by obamanation View Post
    They can't raise capital because their national debt has been downgraded to junk status, and the assets held by the Cypriot banks are largely invested in private sector loans to Greeks.
    The Euro is holding strong at $1.30 USD. This has to tell you how bad the situation is with the US dollar.

    Quote Originally Posted by obamanation View Post
    Funny, I didn't see this coming. Robbing the foreign(Russian) investors while allowing the poor Cypriots to keep their savings might actually prevent the ensuing riots. I suppose the downside is, it effectively ends Cyprus status as an Offshore Investment destination/tax shelter. With no other industry outside of tourism, I suspect the financial status of the average Cypriot is about to take a dramatic turn for the worse.
    Quote Originally Posted by TopDogger View Post
    There will be repercussions from the Russians. I suspect this is going to cost the EU dearly. Russia is dominated by 7 major crime syndicates. They have very close ties with everything in Russia, especially the politicians.
    There was talk of a Russian bailout in return for a naval base and concessions in Cypriot offshore natural gas development. Cyprus has the potential to produce enough gas to earn $3 billion a year.

    The New York Times has reported that Israel had plans to deploy 20,000 troops to Cyprus in order to protect Israeli interests.

  8. #28
    More gruesome news for Europeans.

    Cyprus bail-out: savers will be raided to save euro in future crises, says eurozone chief - Telegraph

    Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe's single currency by propping up failing banks, a senior eurozone official has announced.
    If they really want to scare people, they have just done it. I can see millions of Europeans digging holes to bury things in their gardens. That is far safer than keeping your money in the bank.
    "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


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