... but you must feed.
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 ...
Wont be long before Europe realizes the importance of the 2nd Amendment. And if Dems keep talking about “managing” our 401Ks they too will find out the exact definition of the 2nd Amendment.
As I understand it, the tax is Germany’s condition for bailing out the Cypriot banks. If Germany doesn’t bail out the banks, what happens to depositor’s money?
Them, and the EBT card people.
... but you must feed.
I wonder if the politicians there are subject to this same tax on their accounts? My guess would be no.
If Germany didn’t bail out Cyprus’ banks, it would have likely led to a systemic banking failure. And then the Cypriots would’ve had bupkis.
There were two big banks on the verge of insolvency, and the Central Bank of Cyprus couldn’t have bailed them out. If those two went, well.........that’s that. Game over for Cyprus, at least the Southern part of it.
CW2 will not solve the problem, but if it does happen, let them carry the responsibility with their very lives.
Once our money is wasted by our politicians, there won’t be anything left to bury our remains.
Send them the bill for the funeral expenses. LOL.
The ones who save their money are not the ones who cause the debt crisis and welfare state! What don’t you understand?
Europe doesn’t have one, and our ‘POLITICIANS’ want to take it away from us.
For Silver: triple that number to 1500%.
Right now the prices of Precious Metals (PMs) are heavily suppressed. They are direct currency crosses. Their prices cannot be allowed to rise naturally or the Fed's three bubbles - bonds, stocks and the current purchasing power of the dollar - will collapse.
Nevertheless PMs are inexorably going to rise in price. Economic reality cannot be stopped, only delayed. The Fed is pushing against a steamroller and is going to get crushed.
Hope this is helpful.
Gee, ya think?
The Cypriots don’t have a lot of alternatives open to them at this stage in the game.
They could always allow themselves to go bankrupt...it’s an option, if a painful one. They could go back to the Cypriot Pound, with an immediate devaluation of 40 to 50%. It would make vacationing there a lot cheaper, that’s for sure.
They could sell off the southern part of the island to the Russians. They’d be happy to buy it, I’m sure.
Maybe they could just let Turkey take over the rest of the island. Turkey’s in good shape, economically speaking.
Cyprus is bust. I know it’s not the fault of the ordinary man-in-the street for their situation. I don’t envy their situation, to put it mildly. They’re damned if they do, and damned if they don’t. It’s an economic Kobayashi Maru, to use a Star Trek analogy. The no-win scenario.
this govt does not stand up for anyone but its cronies...
Canned goods. Shotgun shells and canned goods.
I’m thinking about land. If all falls apart, and you have the means to protect your property, at least you can grow your own food.
I’m thinking about land. If all falls apart, and you have the means to protect your property, at least you can grow your own food.
S&P Futures are also trading and are down 16.4. This may be the catalyst for the market correction.
“...If this happens here, prepare for CW2....”
The sock puppet is planning on it. Rest assured. That’s why he needs that standing domestic army that just purchased all those hollow point bullets.
It’s not “IF”, it’s WHEN!!! Anyone with half a brain can see it coming.
I don’t have much, but I’ll be at the door when the bank opens first thing in the morning and pulling it out. Screw FDIC, the Fed, Obama and the rest of their sorry asses. I worked too hard for it and it’s not drawing hardly interest in there anyway. I’ll take my chances with it in my own hands.
So, the government taxed 60-70% of their incomes (including a lot of non-revenue producing bureaucratic jobs) so they net 30-40% then they take 10% of that....?
Socialism is a AAA team out outright Marxism.
I was thinking about land. After reading this story, I am thinking of an island.
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