Skip to comments.Raid on Cypriot deposits shakes Europeans' faith in savings (9.9% theft by govt)
Posted on 03/17/2013 3:32:46 PM PDT by Red in Blue PA
(Reuters) - Europeans' faith in the safety of their savings has been shaken by a levy on Cypriot bank deposits to pay for a bailout, even though there was no sign of a rush to withdraw cash in Madrid or Dublin.
People told Reuters they were angered but unsurprised that politicians should dip into citizens' deposits. And as bankers expressed concern the proposed terms of Cyprus's bailout could unnerve savers elsewhere, some leftist leaders voiced outrage.
Euro zone finance ministers want Cypriots to pay up to 9.9 percent of their deposits in return for a 10 billion euro ($13 billion) aid package. If approved by the island's parliament on Monday, it will be the first time savers have had to foot part of the bill for a European bailout.
(Excerpt) Read more at reuters.com ...
You’re right. The U.S. economy isn’t a “good economy” — it’s simply less bad than the others. For now, that’s good enough. For now.
You'll need a good manager won't you?
Allow me to give you my card....
whatever happened to that story??
You missed that boat.
Law books. They make great kindling.
Ah, the marxists among us are salivating! This is their dream! How they would love to take the money that normal people have accumulated through hard honest work without any special privileges.
How they would love to keep it or give it to the lazy slobs who vote democrat!
Cyprus will be vacant pretty soon.
Taking gold teeth out of gas chamber victims’ corpses’ mouths was a form of redistribution. Pass-book savings account is minor larceny by comparison.
What genius thought it was a good idea to take 10 percent of Cypriots’ savings? This kind of larceny isn’t going to engender faith in European banks.
Mods, why was this taken out of Breaking News?
It is HUGE!
Maybe they should change the conditions of the test.
You’ll still have to pay property taxes.
From what I’ve been reading, they’re trying to soften the percentages a bit.
Not quite “changing the conditions of the test”, but more “leaving half the crew alive”.
It was breaking news yesterday but I agree on the seriousness.
Steps are already being made to where this is a definite possibility in the future. How?
The Socialist ideal of a world without cash, where monetary transactions of any type are made electronically.
Such transactions require the routing number of your bank and your account number.
Now you may say no it can’t happen. But salary payments by companies via paper check are becoming rare today, one gets a stub detailing the ETF payment that was deposited into your account. Or IRS refunds, they are planning to eventually go to ETF only.
The ruse is they want to go “paperless” and save money, but once they have you bank routing information and account number they have access to your account. So they can giveth and can taketh away from your bank account, unless you have the patience and fortitude to make you account a sweep account and put the majority of your money into another account or into a non-ETF form. And even with such planning they can search for accounts you may have and once found have the banks do the theft.
NWO goal : One world government, One world currency, One world I.D., One world standard of living. Coming to a planet near you.
I think that those of us in America, Cyprus, and everywhere else who still do honest work and pay taxes are being played for fools by the global crony socialist government/media/banking cabal.
I no longer believe these lies that are told to us in the press; I think this is an organized effort to slowly loot the wealth of all nations, and while they’re laughing all the way to Davos and their own little private islands, the rest of us are left to beg for the scraps.