EU - Cyprus confiscating 10% of all bank depositors money

How is it austerity? Austerity means that the government reduces its spending to sustainable levels. What European Austerity means is that European countries are all over indebted and beholden to the banks that can generate more credit for their drunken spending to meet promises they can never keep.

So, the banksters are robbing the people blind, probably knowing their fictional gains in holding sovereign bonds are just that, fictional.

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Probably because the less privileged have no voice. Nobody listens to the peons

A rise in interest rates that will send prices on bonds lower than what the banks originally paid giving them losses?

Gotta bailout the banks you know...

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cyprus Harlem shake!!!! awesome riot footage!!

yes that leagal and fine ... pay your debts and don't complain

Wake up Americans.....we've had far more than 10% stolen from us through bailouts, the wholesale printing of money, and the resultant inflation.....and it hits everyone, not just savers.

We also earn far less interest on our saving than those in Cyprus.

Better learn how to garden and get some chickens.....it shows no sign of slowing.

Bullish.

More people will feel safer owning shares of stock than cash in their banks now because no government has yet threatened to confiscate people's stock accounts.

Watch for more European savers to convert cash to shares in blue chip stocks like Apple and Facebook.

Then you go up the demand curve for equities and breathe a little new life into this tired bull market.

As they say, "Don't fight the Fed" (or IMF)

So...bullish.

So people are getting their savings jacked?

:o

-Withdraws all my money-

Facebook? Blue chip?

Yeh, well, good luck with that. You don't get paid for your financial wisdom, do you?

Then they pull the plug on the markets and walk us right in to the globalists wet dream.......global electronic currency.

An EMP or massive solar flare can't get here soon enough.

The CDS figure was notional, not net. Also the size of the banking sector (even though it's huge compared to GPD) is miniscule. GER/FR/ITA/ESP could have taken it easily.

That's why the politicians in Cyprus buckled.

It was a 10% haircut on deposits or 40% to 50% (some say even up to 60%) devaluation of all savings via exit from euro.

They took the road of less imminent pain, hence 10% deposit cut.

knowing that Euro IS the problem, this is a dumb step....

And yet we STILL have Europeans coming on here and lecturing us and telling us how much better things are in the good ole EU! And how the USA is doomed and they are not and everything is rosy there.

Make me wonder if they even know what's going on right under their noses.

UP TO 10%. No details were offered. AND it ALSO mentions that more than HALF of the accounts in Cyprus were from Russian investors, NOT Cypriot citizens.



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Good video on the scene.

Guy showed up with his BULLDOZER to make it clear he wanted a full deposit. WOW!

Russia *must* be pissed about this.

Hence, was this move, just last week, a primer?

"Moscow: Russian President Vladimir Putin has signed a law banning foreign banks from opening branches in the country, the government website said."

[link to zeenews.india.com]

It seems Fernando Collor lessons are spreading to the world!

So the President in Cyprus allowed banks to confiscate 10% of all bank depositors including the accounts of the russian mafia????
So Mr president you are going to steal money from the Russian Mafia and expect to get away with it??? I wouldn;t want to be in your shoes mate......
Watch this before you make up your mind.....
[link to www.youtube.com]

This is a shot across the bows of Italy.

A warning of what is going to happen if they don't get there shit together.

Cyprus is a minnow of Europe, if it pulled out of the Euro it doesn't bother anyone.

Italy is the one to watch.
Thats the one that will cause the problems, and the eventual avalanche that will take Spain Portugal and Ireland with it.

The Spanish, Italians, Portuguese and the Irish need to get themselves down to their bank, and get their money out ASAP.

It is coming to a bank near you.

Not enough. They should have started with 20%.

This. I'll be watching the Italian financials tomorrow.

just to get another perspective...

I have had contact with a family since april 2012.

they expressed interest in a house my family has for sale in southern france for around 300,000 euros.

this guy, english, who had previously owned a villa and sold it in cyprus, was a ROYAL pain in the ass. he came over to france for two viewings and needed help in finding and getting a haircut for fucks sake... in the LAND of hairdressers. total out of touch loser with a big opinion of himself.

anyway he loved himself to bits and couldnt resist telling us that he had sold his piece of shit villa in cyprus and had 300 grand sitting in euros in a cypriot bank earning him fat interest and how we should all bow down and worship his financial wisdom ra ra ra

so he eventually makes an offer on the property (having written the MOST pathetic email dragging in stuff like how by offering this amount he would have to deprive his 7 year old daughter's eventual college fund and shit like that) and we negotiate him up a little bit and he agrees and accepts. all good.

pretty much immediately after accepting he starts back peddling and being non committal and basically fucking us around, eventually he cites 'an illness in the family' and pulls out leaving us high and dry.

so fast forward until today, that amazing cyprus bank account has been raped and ravaged by brussels and he is PISSING and MOANING on twitter in the most extreme fashion... it's almost worth the hassle of knowing him. he is SO butthurt right now. declaring war on cyprus etc.. LOLZ

EPIC fail mate, you got FUCKED!

treat people better you horrible, self important man and maybe next time it won't bite you so hard when it comes around like it ALWAYS does.


AHAHAHAHAHHAHAHAHAHAHAHAHHAHAHHAAAAAAAAAAAAAAAAAA!!!!!!!!!!!!​!

got a call from putin that scared shit out of them.

Take JPM for instance. They have a 50 to 1 levered balance sheet. To write off or rupudiate one dollar they would have to print $49 new ones. Not gonna happen

Cyprus is an off shore banking shelter.

The 9.9% charge is for depositors over 100,000 Euros.

There is a 6.75% below 100,000 Euro.

The idea that they are going after money laundering depositors is an excuse.

Meanwhile all other depositors get hit with a 6.75% charge.

Who is the thief?

lol at 3:37 :Idol1:

[link to www.youtube.com]

lol at 3:37 :Idol1:

Thanks! I didn't put 2 & 2 together. Interesting!

Oh were not penalizing cyprus just raping its citizens by fiat.

List of Offshore Tax Havens..

Switzerland, Gibraltar, The British Virgin Islands, Barbados, Alaska, Belize and Panama.