Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Can US & UK become like Cyprus? Yes.
Canada Free Press ^ | Marinka Peschmann

Posted on 04/01/2013 6:59:13 AM PDT by Opinionatedtoday

While you were sleeping, leaders of the so-called “free world” have been actively transforming their financial systems and now it appears that everybody’s bank account is fair game.

Could the U.S. and the U.K. become the next Cyprus where private bank deposits are seized to recapitalize failed banks? According to a report written by the Federal Deposit Insurance Corporation (FDIC) and the Bank of England called: “Resolving Globally Active, Systemically Important, Financial Institutions,” the answer is yes.

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


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events; United Kingdom
KEYWORDS: bankofengland; cyprus; fdic; obama

1 posted on 04/01/2013 6:59:13 AM PDT by Opinionatedtoday
[ Post Reply | Private Reply | View Replies]

To: Opinionatedtoday

Glen Beck warned of the global banking problem years ago. They are all tied together one way or another.


2 posted on 04/01/2013 7:42:54 AM PDT by Don Corleone ("Oil the gun..eat the cannoli. Take it to the Mattress.")
[ Post Reply | Private Reply | To 1 | View Replies]

To: Opinionatedtoday

In any bankruptcy, the stockholders, investors, bond holders are expected to bear the cost according to their ranking as creditors.

The problem I have is understanding how a depositor gets redefined as an investor and loses his money.

The depositor should be treated as one protected by the rules of fiduciary responsibility and should be paid ahead of every other entity including the federal and state tax collectors.

A depositor does not invest. He gives his money to the bank to keep it for him until he asks for it, thus they have or should be held to the standards of fiduciary trust, just as a trust department or wealth management organization.

The banks should be liquidated and whatever money is generated by that liquidation be divided among the depositors with no one else getting a penny until depositors are repaid in full.

Of course, that might wipe out everyone, depositors, investors alike. So be it.

At least that gets rid of a bank which never should have existed to begin with.

And the bank examiner that allowed the bank to get in such a position should serve time in jail.


3 posted on 04/01/2013 7:43:21 AM PDT by old curmudgeon
[ Post Reply | Private Reply | To 1 | View Replies]

To: Opinionatedtoday

The USA has already been like Cyprus and continues to this day.

The only difference is rather than the government directly stealing your money, our government, because they can print more, simply makes your money worth less. Cyprus did not have the advantage of printing more EuroCrap.

One could actually make a case that the people in Cyprus, with smaller amounts in their accounts, are doing better that we are as the confiscation does not take place until some 100K EuroCrap level while in the USA even $20 sitting in the bank is being eroded by inflation, inflation that our government lies to us as to its percentage. The government figures on inflation are not even close to reality.


4 posted on 04/01/2013 7:55:08 AM PDT by Wurlitzer (Nothing says "ignorance" like Islam!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Wurlitzer

Your money is being stolen at a monthly rate of

$85 billion / US Money Supply


5 posted on 04/01/2013 7:56:24 AM PDT by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
[ Post Reply | Private Reply | To 4 | View Replies]

To: MrB

“Your money is being stolen at a monthly rate of

$85 billion / US Money Supply”


That will eat up retirement savings rather quickly.

At least in Cyprus, if they keep the deposited amount low enough, the government theft does not take place. (For Now)


6 posted on 04/01/2013 8:05:21 AM PDT by Wurlitzer (Nothing says "ignorance" like Islam!)
[ Post Reply | Private Reply | To 5 | View Replies]

To: Opinionatedtoday

Already there under Dodd-Frank? No wonder these Rats propose 2000 page bills, but then again we`ll “find out whats in it” after it`s been foisted on the nation.


7 posted on 04/01/2013 10:29:59 AM PDT by nomad
[ Post Reply | Private Reply | To 1 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson