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Proposed Nightmare Raid Of Bank Accounts In Cyprus Is A Powerful New Tool For The GOP
Mediaite ^ | March 18, 2013 | Noah Rothman

Posted on 03/18/2013 12:53:38 PM PDT by 2ndDivisionVet

Over the weekend, the citizens of Cyprus discovered that help was on the way as their debt-laden island nation learned that the European Union and the International Monetary Fund had agreed to provide Cyprus with $13 billion in bank bailouts. But there was a catch: no longer were these funds going to be pain-free. Average Cypriots would have to pony up as well. 6.75 percent of all deposits in Cyprus-based banks below 100,000 Euros would be reclaimed by the government. Depositors with over 100,000 Euros would have to surrender 9.9 percent of their savings. The news spread like wildfire. The citizens of the Mediterranean nation took to the streets. They raided their bank accounts. President Nicos Anastassiades took to the televisions cameras as panic spread. The banks were closed. A vote on the deal postponed. The governments of creditor nations across the planet held emergency meetings in the fear that the crisis in Cyprus could spread beyond the nation’s watery borders. Today, residents of the Eurozone watch the smoldering scene in Cyprus for materializing fallout. The debt crisis had arrived in Europe. No longer is this theoretical of hypothetical; this is what a debt crisis looks like.

The panic that resulted from the proposed $13 billion bailout deal has scuttled the plan in its present form. There are nearly 70 billion Euros in Cypriot banks from outside the country. The Russian government in particular is expressing their revulsion over the bailout plan, given that Russian banks and corporations have more than $31 billion in Cyprus-based banks. A spokesperson for the Russian government made it clear, however, that a deal that bails out the island nation and levies only the funds of native Cypriots would not be opposed by Moscow.....

(Excerpt) Read more at mediaite.com ...


TOPICS: Issues; Parties; U.S. Congress; U.S. Senate
KEYWORDS: banks; cyprus; europe; statism

1 posted on 03/18/2013 12:53:38 PM PDT by 2ndDivisionVet
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To: 2ndDivisionVet

Not to the mass uninformed.


2 posted on 03/18/2013 12:54:24 PM PDT by ImJustAnotherOkie (zerogottago)
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To: 2ndDivisionVet

At least 47% in this declining country would be just peachy with the idea of the government raiding savings accounts if they get the idea it’ll result in their redistribution.


3 posted on 03/18/2013 12:56:40 PM PDT by ScottinVA (Gun control: Steady firm grip, target within sights, squeeze the trigger slowly...)
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To: 2ndDivisionVet

...which the GOP will fumble and lose...just as they always do.

The GOP is dead, dead, dead. Oh, GOP, take McQweeg and the rest of the RINO b*stards with you.

Long live their conservative replacements.


4 posted on 03/18/2013 12:57:06 PM PDT by Da Coyote
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To: ScottinVA
At least 47% in this declining country would be just peachy with the idea of the government raiding savings accounts if they get the idea it’ll result in their redistribution.

I think they wouldn't even care if they benefit from it, just that they can see the rich "getting theirs'"

5 posted on 03/18/2013 12:57:34 PM PDT by dfwgator
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To: 2ndDivisionVet

The GOP should immediately draft a bill that makes this type of activity illegal.


6 posted on 03/18/2013 12:57:51 PM PDT by MarineBrat (Better dead than red!)
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To: dfwgator

“I think they wouldn’t even care if they benefit from it, just that they can see the rich “getting theirs’”

And probably demand that the confiscation was more like 75% while they are at it.


7 posted on 03/18/2013 1:07:19 PM PDT by cld51860 (Oderint dum metuant)
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To: MarineBrat

Which type of activity illegal? People protected their money?

Gunner


8 posted on 03/18/2013 1:08:01 PM PDT by weps4ret (Republicans are suffering from Testicular Atrophy!!!)
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To: 2ndDivisionVet

My husband’s been following this - says the Russians are laundering LOTS money through Cyprus and this is what they are trying to control here.


9 posted on 03/18/2013 1:08:14 PM PDT by bboop (does not suffer fools gladly)
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To: Da Coyote

You could count on Boehner to say, Government confiscation of savings accounts is not a crisis.


10 posted on 03/18/2013 1:09:21 PM PDT by kevao (.)
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To: 2ndDivisionVet

And I thought grandpa was a little loopy for refusing to keep his money in a bank (he had upwards of $60,000 stashed in his dresser when he died). It looks like he might have been ahead of his time...


11 posted on 03/18/2013 1:09:30 PM PDT by apillar
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To: 2ndDivisionVet

If the GOP ignores this, they can roll over and go back to sleep in 2014.


12 posted on 03/18/2013 1:14:06 PM PDT by Eric in the Ozarks (NRA Life Member)
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To: 2ndDivisionVet
The GOP has had a ‘powerful tool’ for years, even decades, but they're too timid to use it to their advantage.

Even when our entire country, culture, and economy is on the line, they don't see fit to rise to the occasion. Instead, they resort to ‘blaming’ conservatives and traditional, time-tested, American values for their embarrassing performance year after year.

Hence the reputation of being the ‘Stupid Party’.

13 posted on 03/18/2013 1:15:12 PM PDT by MichaelCorleone (A return to Jesus and prayer in the schools is the only way.)
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To: bboop
My husband’s been following this - says the Russians are laundering LOTS money through Cyprus and this is what they are trying to control here.

That's one of the claimed rationale for doing this. Germany in particular has been using the excuse.

The problem is that it won't just be the Russian mob that gets hit by this -- average Cypriot citizens will be subject to it as well.

It's kinda of like fighting crime with gun control. It won't affect the criminals: they'll just change tactics.

14 posted on 03/18/2013 1:15:53 PM PDT by justlurking (tagline removed, as demanded by Admin Moderator)
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To: 2ndDivisionVet

The real rich have their accounts off shore not in US banks. I wonder though, where their investment portfolios might be .....


15 posted on 03/18/2013 1:22:01 PM PDT by SkyDancer (Live your life in such a way that the Westboro church will want to picket your funeral.)
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To: kevao
You could count on Boehner to say, Government confiscation of savings accounts is not a crisis.

Whenever a RINO/DINO claims there is a crisis, there is no crisis.

Whenever a RINO/DINO claims there is no crisis, there is a crisis.

Simple rules for surviving a corrupt and illegal national government.

16 posted on 03/18/2013 1:27:26 PM PDT by justa-hairyape
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To: MarineBrat
The GOP should immediately draft a bill that makes this type of activity illegal.

What would it matter? When it hits the fan they'll make up the rules as they go along. Have you already forgotten 2008 and everything that followed?

17 posted on 03/18/2013 1:31:23 PM PDT by Gunslingr3
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To: Da Coyote

Vichy Republicans - not even good for landfill.


18 posted on 03/18/2013 1:31:30 PM PDT by Noumenon (One individual with courage, determination and a rifle can change the course of history.)
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To: 2ndDivisionVet

“Proposed Nightmare Raid Of Bank Accounts In Cyprus Is A Powerful New Tool For The GOP”

Yes. Therefore, it will not be used.

Itstead the Grand Ole Potsitters will stress how they “want to work with the President.”


19 posted on 03/18/2013 1:32:58 PM PDT by SharpRightTurn (White, black, and red all over--America's affirmative action, metrosexual president.)
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To: 2ndDivisionVet

oboozo hussein is bent on massive government spending and he obviously wants to take our firearms. Could confiscating our bank accounts also be part of his plan? Patrick Henry new all too well if the people had no right to own firearms they would be helpless to stop the government from taking anything they want from the people. PH’s words in the Virginia State house arguing in favor of the Second Amendment were (para phrasing): If the government controls the purse and you have no firearms and when the government comes for your property, what shall you do, tell them?? The man had vision!


20 posted on 03/18/2013 1:33:40 PM PDT by drypowder
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To: weps4ret

>>Which type of activity illegal?

Government theft of savings accounts.

This is coming to an IRA near you. In order to protect themselves, people will start draining their savings as of today, placing that money in physical assets.


21 posted on 03/18/2013 1:47:45 PM PDT by MarineBrat (Better dead than red!)
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To: ScottinVA

Totally unsubstantiated piece of campaign propaganda.


22 posted on 03/18/2013 1:56:49 PM PDT by muawiyah
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To: MarineBrat

We shouldn’t have to outlaw what the feds aren’t empowered to do. But if they can ignore the Constitution, they can ignore your proposed new law. Not that it wouldn’t have symbolic importance.


23 posted on 03/18/2013 2:59:43 PM PDT by Tublecane
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To: MarineBrat

What, like gold? Does anyone remember how FDR stole the nation’s good supply, and for decades it was illegal for citizens to possess gold in non-jewelry or -industrial form? There’s also always eminent domain. They’ll get your wealth, if they want it.


24 posted on 03/18/2013 3:07:02 PM PDT by Tublecane
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To: bboop
Actually the EU is loaning a pile of money to Cyprus and wants some vigorish on the Russian action ~

This is as old as the hills ~ but this time they're going to let the computers do the taking.

This stuff keeps up ~ giving the machines all the good jobs ~ unemployment in Europe is going to go through the roof!

25 posted on 03/18/2013 3:07:22 PM PDT by muawiyah
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To: 2ndDivisionVet

They might not be as bold as to raid our checking & saving accounts, but they sure as hell want to “manage” our retirement accounts.


26 posted on 03/18/2013 3:08:40 PM PDT by TexasCajun
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To: MarineBrat
The GOP should immediately draft a bill that makes this type of activity illegal

In my NSHO the only thing the GOP can successfully draft is beer.

27 posted on 03/18/2013 3:23:58 PM PDT by dearolddad (/i>)
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To: justlurking; bboop

I was talking about this with a friend. He claimed it was ‘ all Russian mob money ‘

Well - prove it. All of it? None of the deposits from Russia are from legit businesses? Seems unlikely. So, the Russians who are going to take a hit in the wallet are going to keep their remaining money in Cyprus.

Not a chance.


28 posted on 03/18/2013 3:24:28 PM PDT by warsaw44
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To: muawiyah

You don’t think the class warfare rhetoric of the left has penetrated the pointed little heads of the welfare parasites and other low-information voters that such a sentiment wouldn’t exist? I don’t share your optimism.


29 posted on 03/18/2013 3:24:41 PM PDT by ScottinVA (Gun control: Steady firm grip, target within sights, squeeze the trigger slowly...)
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To: drypowder

Not just bank accounts—401K’s other retirement-type accounts, too.


30 posted on 03/18/2013 3:26:00 PM PDT by DallasDeb
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To: Eric in the Ozarks

They’re fluffing their pillows. Snoring will commence shortly.


31 posted on 03/18/2013 3:26:17 PM PDT by ScottinVA (Gun control: Steady firm grip, target within sights, squeeze the trigger slowly...)
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To: Eric in the Ozarks

Everybody is ignoring the bear in the room.

The Russians have been taking over Cyprus with their money....now the EU is raiding their banks.....not exactly the way to win friends and influence people.

Now, what is the one thing Russia has wanted the most, even going back to the days of the Czars? A year-round warm weather port that gives their navy access to the Mediterranean, and the Middle East....look on the map where Cyprus is.....I think you can connect the dots from there.


32 posted on 03/18/2013 3:30:11 PM PDT by dfwgator
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To: Eric in the Ozarks
Consider this: Tartus hosts a Soviet-era naval supply and maintenance base, under a 1971 agreement with Syria, which is still staffed by Russian naval personnel. Tartus is the last Russian military base outside the former Soviet Union, and its only Mediterranean fueling spot, sparing Russia’s warships the trip back to their Black Sea bases through straits in Turkey, a NATO member.

So even further supporting my theory, with the uncertainty in Syria, that the Russians want to find an alternative PDQ.

33 posted on 03/18/2013 3:39:02 PM PDT by dfwgator
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To: 2ndDivisionVet

Which they will not ever use, except to help Obama implement here.


34 posted on 03/18/2013 3:42:04 PM PDT by chris37 (Heartless.)
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To: dearolddad
The GOP should immediately draft a bill that makes this type of activity illegal

If they did so they would undoubtedly commit some small error of wording or emphasis in the name of the bill, and that error would allow the MSM and Obama to instantly start screaming that "the GOP wants to confiscate your bank accounts!"

The whole thing would be made to backfire on our sides, and the effects would last forever.

35 posted on 03/18/2013 3:42:31 PM PDT by Steely Tom (If the Constitution can be a living document, I guess a corporation can be a person.)
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To: MarineBrat

It was illegal for Jon Corzine to steal 1.6 gigabucks from MF Global.

Didn’t stop him.

It’s illegality hasn’t even inconvenienced him.


36 posted on 03/18/2013 3:43:08 PM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: 2ndDivisionVet

The US government is already taxing assets. Obamcare has a 3.8% tax on “unearned income” that could include the sale of a business or even a home.


37 posted on 03/18/2013 3:51:44 PM PDT by The Great RJ
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To: drypowder
"Patrick Henry knew all to well if the people had no right to own firearms, they would be helpless to stop the government from taking anything they want from the people."

Excellent-your post #20.

As for the GOP using the European monetary crisis and all the examples of Leftist policies that led to it, I doubt they will do it. Boehner says there is no crisis so everything's just peachy, it can't happen here.(/s)

It would be interesting if someone would ask the 47%, how long do they think the other half of the country that doesn't want to rely on the government, is going to put up with their money being taken away to support them(47%)?

What are they planning on doing when the checks and the EBT cards stop coming in the mail, because the economy has collapsed, as is ALREADY HAPPENING RIGHT NOW in Europe?

38 posted on 03/18/2013 4:30:56 PM PDT by Pajamajan (Pray for our nation. Thank the Lord for everything you have. Don't wait. Do it today.)
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To: drypowder
"Patrick Henry knew all to well if the people had no right to own firearms, they would be helpless to stop the government from taking anything they want from the people."

Excellent-your post #20.

As for the GOP using the European monetary crisis and all the examples of Leftist policies that led to it, I doubt they will do it. Boehner says there is no crisis so everything's just peachy, it can't happen here.(/s)

It would be interesting if someone would ask the 47%, how long do they think the other half of the country that doesn't want to rely on the government, is going to put up with their money being taken away to support them(47%)?

What are they planning on doing when the checks and the EBT cards stop coming in the mail, because the economy has collapsed, as is ALREADY HAPPENING RIGHT NOW in Europe?

39 posted on 03/18/2013 4:44:28 PM PDT by Pajamajan (Pray for our nation. Thank the Lord for everything you have. Don't wait. Do it today.)
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To: dfwgator

The Rooskies may have been communists but they still like their money.


40 posted on 03/18/2013 5:07:30 PM PDT by Eric in the Ozarks (NRA Life Member)
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To: 2ndDivisionVet

The problem is that the GOP never really uses these incidents to their advantage...because they support and promote many of these same organizations and ideas that bring them on...such as the IMF, Globalism, Free Trade, EU/NAFTA/CAFTA and all the other regional “free trade” blocs.

If Obama and his minions started seizing bank accounts, the GOP will whine but do nothing...as both the GOP leadership and Obama are pretty much on the same page. There are no Real Conservatives in the GOP leadership


41 posted on 03/18/2013 6:29:00 PM PDT by SeminoleCounty (GOP = Greenlighting Obama's Programs)
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To: 2ndDivisionVet; blam; AdmSmith; AnonymousConservative; Berosus; bigheadfred; Bockscar; ColdOne; ...

Thanks 2ndDivisionVet.

the Slimes has it more or less right:

Resistance in Cyprus Grows to Europe’s Bailout Plan
http://www.nytimes.com/2013/03/19/business/global/19iht-cyprus19.html?google_editors_picks=true

BBC spins it:

Eurozone ministers urge Cyprus to shield small savers
http://www.bbc.co.uk/news/world-europe-21839324


42 posted on 03/18/2013 7:54:03 PM PDT by SunkenCiv (Romney would have been worse, if you're a dumb ass.)
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To: ScottinVA

The people who don’t care if the Government steals from citizens are the same people who ‘get’ from the government. The same people who don’t bother to save a dime...


43 posted on 03/18/2013 9:04:38 PM PDT by GOPJ (DHS HAS secured: 1.6 BILLION bullets - 2.700 tanks and 35,000 drones ...to use on American soil...)
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