and from what i've read the Russian Mobsters were allowed to withdraw large sums of their deposits
Posted on 03/30/2013 11:55:21 AM PDT by Attention Surplus Disorder
Because if they did......
http://greece.greekreporter.com/2013/03/29/cypriot-politicians-loans-written-off/
[excerpt from above link]
With banks confiscating up to 80 percent of uninsured deposits over 100,000 euros ($130,000) and the country facing a deep economic crisis, Cyprus has forgiven loans to politicians and companies while others are generally being required to pay in full, media reports said, setting off fury on the island country.
The Greek newspaper Ethnos and the website 24h.com.cy said that loans to Members of Parliament from the three major political parties and other officials in the public administration from the Bank of Cyprus and Cyprus Popular Bank (Laiki) will be written down or off.
Oh that's special.
So the common Cypriot gets hosed and his debts to these banks are fully collectible and being enforced.
At the same time "special people" had their debts to these very same banks forgiven.
Those sorts of special deals sound a lot of like Friends of Angelo, but on steroids.
Eventually the people will get tired of this sort of organized looting. The question is, exactly when does that happen and how far are the people willing to go to put a stop to this sort of blatant, in-your-face corruption and theft?
>>Now You Know Why Cyprus Has No 2nd Amendment
I disagree. Now you know WHY the United States has a 2nd Amendment!
Can’t happen here?? I’m sure that Cypriots said the same thing last year.
Some pigs are more equal than others, down on “Animal Farm.” You can be certain the same rules would apply in the USA under similar circumstances.
Heck....thousands of federal employees get away without filing income taxes every year. If a tax drone tries that, they are thrown in the slammer.
and from what i've read the Russian Mobsters were allowed to withdraw large sums of their deposits
Oh that's right, he's a democRAT/socialist/marxist/liberal (sorry for the redundancy).
5.56mm
One more reason the very idea of a bailout should have been laughed at and discarded.
Actually the EU showed how to do it by following the Obama administration. By setting the limit at 100,000 euros, 98% of the protestors will get to keep their money while the 2% are too small a group to put up much of a fight. If Obama needed to the FDIC would disappear in a day while he raided the banks. Keep a little gold on hand.
More like, now you know why they dared to steal the citizens’ money.
Cypriots should be engaging in the wholesale slaughter of their political class.
And now you also know why the US guvmint will do everything in its power to override the 2nd Amendment.
THEY WANT YOUR MONEY!!
what happens when there is a war effort to retake the occupied north?
What do they have to lose?
International outrage? ecconomic ruin? no longer an issue.
are the british going to but in? they have two permanent military bases on the island nation. but the british WANT the euro and the EU to fall appart. They have, pre wwII, manipulated the us election to ensure US support. it is doubtful.
Cyprus could be an archduke moment. but it would be west vs east.
And you fools thought it would be women and children first !
Freedom From War, Publication 7277, State Dept. 1961.
Reducing nuke stockpile. Internal security forces - ie "we need a civilian military AS STRONG as ou military". Cutting regular military down - a sizeable part of which is operating under UN command or fulfilling UN objectives. Disarming citizens. The latest UN small arms treaty crap. Destroying the last superpower by killing the economy and creating economic crises by printing money like water. Getting ready to Cyprus our 401k's into "government bonds" and private bank savings into "stock/equity in the bank" your money's in - worse than FDIC-insured. Not far fetched as he hates America, walked around for months with the Post-America book he was reading, has all national intelligence assets looking at anyone who is "anti-government" (anti-Obama) as a threat. (And in case you didn't know, Freedom From War, the UN treaties do not allow civillians to remain armed - which means confiscation, by force if necessary.)
Do not think they will not take your supplies as well, as these emergency orders will also allow them to take any of your property they need. Once they disarm you it won't be hard.
This is what it's all about. In its "Second Annual Report to Congress" (February 1963), the ACDA presented a simple graphic depiction (see top of next page) demonstrating its proposed three-stage disarmament process:
U.S. THREE-STAGE DISARMAMENT PLAN
Why would the European Community sanction such a theft? Wouldn’t it destroy confidence in European banks in general?
The answer is this: the Cypriot bank assets which were seized are almost all those of Russians shielding their assets. And most of those Russians are suspected of organized crime... hence, why they are shielding their assets.
Please don’t read this as justifying the bank seizures; there are plenty of innocent Cypriots getting screwed. But if you wonder why the ordinary people of Europe aren’t having conniptions, that’s why.
Some of the 2 percenters may opt to hire a hitman.One of the downsides to f’n with people of means.
“Why would the European Community sanction such a theft? Wouldn’t it destroy confidence in European banks in general?”
I am not sure what you mean by the “European Community”, and I’m not challenging you, per se, I am asking “what is this thing you call the Euro Community”? Does it exist? Does it have any probative power? There is the Euro Monetary Union and there is the Euro Central Bank and I am no kind of expert as what each does and what powers each may or may not have....according to which chartering documents. Are you saying the great bulk of Euro retail customers might lose faith in the propriety of their banks and decide to yank their money out of them. Yeah, that might happen. But....what do you do if you are a business and you have your employee payroll in the bank, and maybe you have the gross amounts of some number of sales you have made, out of which you in turn have to pay your vendors?
But responding to your question. One might think so, but I posit two things: 1: The world has (apparently) in effect decided that the overall stability of the banking system is more important than however badly any particular individual might have been gouged or ripped off. 2: That the traditional capital structure of a bank, where shareholders and bondholders are subordinate to [insured] depositors in the event of a liquidation, can be turned upside down in the name of stability. Forget not that we were sold the same bill of goods with TARP, when Hank Paulsen literally made a terrorist threat in Congress, threatening “tanks in the streets” should TARP not be approved...and our exalted reps bought it. And the American people apparently have, as well.
“The answer is this: the Cypriot bank assets which were seized are almost all those of Russians shielding their assets. And most of those Russians are suspected of organized crime... hence, why they are shielding their assets.”
There is/was undoubtedly some of that, maybe even a lot of that. However, that is otherwise anecdotal, and I believe largely a cover story. And, if you say they were mafiosi, then it would be hard to believe that they went along with these seizures without VERY credible threats to the bank officers. Crossing the Russian mafia is not known as a long term strategy, if you get my drift. Secondly, and equally anecdotally, it is widely believed that these same Russian mafiosi were able to w/draw most of their funds in the main through the British branches of these banks. It has also been reported (per my original post) that good numbers of politicians and bank officers had their debts forgiven in this flurry. This should be the real cause of any uproar. But you know, the Euros are not especially known for their activism, unless it’s against nuclear energy or the relaxation of gov’t imposed price controls on their milk.
“But if you wonder why the ordinary people of Europe aren’t having conniptions, that’s why.”
Think we’d hear about it? We get actual news from our media, who knew? Do we hear conniptions about the trillions of dollars in debt being loaded upon future generations of Americans for the bank bailouts and the GM bailout and Solyndra and on and on? Yeah, for a week or so, then these stories seem to fade out.
There is a lot at stake here. There is/are multifaceted bureaucracies and powerful interests who are perfectly aware of the consequences of ‘loss of confidence’. We in this country have a Federal Reserve that is only too aware of the impact of a stock market collapse, and is very attentive to issuing TOMOs and POMOs and even directly buying S&P futures should the market have one of those stomach-upset episodes. They are not stupid, indeed, if they are anything like the politicians and the vulture elites we are blessed with, they see a diminishing opportunity for them to pick the bones of a generally collapsing country clean of whatever shards of meat might be left.
It won’t be long now. Soon the collapse will send the MRAPs into the burbs to gather up whatever rations can be found and the residents of those homes will be ‘brought into custody ‘to insure they are cared for’ as the confiscated supplies are distributed to the starving government dependents whose EBT cards have stopped coming as the federal oligarchs sneak away to their fortified compounds to wait out the mayhem, death, disease, and planned population reduction. But of course that won’t work if they haven’t got enough bullets for their hired army ... Oh wait! They do have a multi-year supply now!
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