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 ...
>>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.
Totally unsubstantiated piece of campaign propaganda.
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.
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.
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!
They might not be as bold as to raid our checking & saving accounts, but they sure as hell want to “manage” our retirement accounts.
In my NSHO the only thing the GOP can successfully draft is beer.
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.
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.
Not just bank accounts—401K’s other retirement-type accounts, too.
They’re fluffing their pillows. Snoring will commence shortly.
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.
So even further supporting my theory, with the uncertainty in Syria, that the Russians want to find an alternative PDQ.
Which they will not ever use, except to help Obama implement here.
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.
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.
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.
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?
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?
The Rooskies may have been communists but they still like their money.
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