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Now New Zealand is planning a Cyprus style bank deposit confiscation!

 
Anonymous Coward
User ID: 28731888
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03/19/2013 06:52 AM
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Now New Zealand is planning a Cyprus style bank deposit confiscation!
Heres the link: [link to www.scoop.co.nz]

I am interested in seeing how fast and how far this spreads.
Anonymous Coward
User ID: 36465413
United States
03/19/2013 06:56 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
Cash Confiscation Begins Now!

G3
G3

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03/19/2013 06:57 AM

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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
National planning Cyprus-style solution for New Zealand
Tuesday, 19 March 2013, 11:32 am
Press Release: Green Party


19 March 2013

National planning Cyprus-style solution for New Zealand


The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts, the Green Party said today.

Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.

“Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand – a solution that will see small depositors lose some of their savings to fund big bank bailouts,” said Green Party Co-leader Dr Russel Norman.

“The Reserve Bank is in the final stages of implementing a system of managing bank failure called Open Bank Resolution. The scheme will put all bank depositors on the hook for bailing out their bank

“Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.

“While the details are still to be finalised, nearly all depositors will see their savings reduced by the same proportions.

“Bill English is wrong to assume everyday people are able to judge the soundness of their bank. Not even sophisticated investors like Merrill Lynch saw the global financial crisis coming.

“If he insists on pushing through this unfair scheme, small depositors can be protected ahead of time with a notified savings threshold below which their savings will be safe from any interference.”

Dr Norman questioned the Government’s insistence on pursuing Open Bank Resolution when virtually no other OECD country uses it.

“Open Bank Resolution is unprecedented in the world. Most OECD countries run deposit insurance schemes which protect people’s deposits up to a maximum ranging from $100,000 – $250,000,” Dr Norman said.

“OBR is not in line with Australia, which protects bank deposits up to $250,000.

“A deposit insurance scheme is a much simpler, well-tested alternative to Open Bank Resolution. It rewards safe banks with lower premiums and limits the cost to taxpayers of a bank failure.

:oh shit:
G3
G3

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03/19/2013 06:58 AM

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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
giantpin
Anonymous Coward
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New Zealand
03/19/2013 06:59 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
Heres the link: [link to www.scoop.co.nz]

I am interested in seeing how fast and how far this spreads.
 Quoting: Anonymous Coward 28731888


Bankers are wankers.
Anonymous Coward
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Denmark
03/19/2013 07:01 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
they are digging their own grave.. If this spread be prepared to see bank runs in the Whole West
Anonymous Coward
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03/19/2013 07:01 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
doesn't this mean bank runs are certain now? New Zealand foes not hold Russian Mob money, so there goes that theory. It shows they intend to do it everywhere like the NY stock analyst in that embedded video above pints out. He also points out that Americans are the most brainwashed people on the planet.
Anonymous Coward (OP)
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03/19/2013 07:09 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
Thanks for the fast 5 stars!

Incredibly important info though. This is what I hv been watching for. Thursday will be a crazy day IMO. I think this is what will bring on the doom everyone here always talks about, not some comet or chemtrail collaboration, but simple unfettered fiscal insolvency. This is also the shortest way to open rebellion and swift installment of martial law. Dissidents will be thrown under the jail for wanting nothing more than their piece of the pie back.
insertfunnyusername

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Greece
03/19/2013 07:14 AM

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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
Banksters gonna bankster.
Anonymous Coward
User ID: 945308
New Zealand
03/19/2013 07:25 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
I'm not sure I get this?

Our banks are very sound unlike overseas. There is no question of them failing, they're making a fortune!
.
Anonymous Coward (OP)
User ID: 28731888
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03/19/2013 07:27 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
My first pin! Cool. Thanks.
Anonymous Coward
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03/19/2013 07:40 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
doesn't this mean bank runs are certain now? New Zealand foes not hold Russian Mob money, so there goes that theory. It shows they intend to do it everywhere like the NY stock analyst in that embedded video above pints out. He also points out that Americans are the most brainwashed people on the planet.
 Quoting: Anonymous Coward 36465413


the russian theory is a smokescreen.
the bank drama is distracting from the fact that UN is paasing final gun confiscation laws this week
Anonymous Coward
User ID: 961432
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03/19/2013 07:42 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
I'm not sure I get this?

Our banks are very sound unlike overseas. There is no question of them failing, they're making a fortune!
.
 Quoting: Anonymous Coward 945308


Maybe they want to make more of a fortune, maybe they want it all?

damned

.
Anonymous Coward
User ID: 36465413
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03/19/2013 07:43 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
I'm not sure I get this?

Our banks are very sound unlike overseas. There is no question of them failing, they're making a fortune!
.
 Quoting: Anonymous Coward 945308


your MSM is reporting they're getting ready to STEAL your money too! get it yet? Stop acting like a zombie American.
Anonymous Coward
User ID: 961432
United States
03/19/2013 07:48 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
I'm not sure I get this?

Our banks are very sound unlike overseas. There is no question of them failing, they're making a fortune!
.
 Quoting: Anonymous Coward 945308


On a more serious side, do you know what "assets" they are holding on their balance sheets? If they are holding a lot of opaque derivatives, maybe interest rate derivatives and interest rates are somehow going to go higher, maybe much higher than they foresee serious problems ahead?

blink

.
Renegade (Me too)

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03/19/2013 07:59 AM

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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
Thanks for the fast 5 stars!

Incredibly important info though. This is what I hv been watching for. Thursday will be a crazy day IMO. I think this is what will bring on the doom everyone here always talks about, not some comet or chemtrail collaboration, but simple unfettered fiscal insolvency. This is also the shortest way to open rebellion and swift installment of martial law. Dissidents will be thrown under the jail for wanting nothing more than their piece of the pie back.
 Quoting: Anonymous Coward 28731888


Why Thursday?
Who is John Galt?
Eagle # 1
User ID: 26614631
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03/19/2013 08:02 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
HOW are you going to have a 'Bank Run' when THEY control the computers ?

The moment starts, OR before a bank run, they will have 'computer glitches', loss of power, "Sorry, can't access your account now" ( or until they decide ).

They have ALL the controls, the parasitic politicians in their pocket, AND, YOUR MONEY.

Should have bought gold/silver 10 YEARS ago, grasshoppers !

However, you CAN keep chirping, till you starve to death ! NO ONE CARES !

Eagle
KimmieAnnaJones

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03/19/2013 08:05 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
I'm not sure I get this?

Our banks are very sound unlike overseas. There is no question of them failing, they're making a fortune!
.
 Quoting: Anonymous Coward 945308


Not when they are connected to the world bank.
"Holy, holy, holy is the Lord God Almighty, who was, and is, and is to come." - I AM
KimmieAnnaJones

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03/19/2013 08:07 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
OK, I get this now. They are implementing the legal ability, not exactly planning to use it:

Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.

“Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand – a solution that will see small depositors lose some of their savings to fund big bank bailouts,” said Green Party Co-leader Dr Russel Norman.

“The Reserve Bank is in the final stages of implementing a system of managing bank failure called Open Bank Resolution. The scheme will put all bank depositors on the hook for bailing out their bank.

“Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.

 Quoting: The Comedian


It is like making the atom bomb but not planning to use it.... RIGHT!
"Holy, holy, holy is the Lord God Almighty, who was, and is, and is to come." - I AM
ReVbo™

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03/19/2013 08:09 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
OK, I get this now. They are implementing the legal ability, not exactly planning to use it:

Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.

“Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand – a solution that will see small depositors lose some of their savings to fund big bank bailouts,” said Green Party Co-leader Dr Russel Norman.

“The Reserve Bank is in the final stages of implementing a system of managing bank failure called Open Bank Resolution. The scheme will put all bank depositors on the hook for bailing out their bank.

“Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.

 Quoting: The Comedian


So, effectively, the depositors are now insuring the bank, not the other way around.

Yeah, I think I would rather just stuff it in the mattress. The mattress doesn't steal 10% whenever it gets itself into trouble.

Last Edited by Revbo™ on 03/19/2013 08:10 AM
Rev. 21:4 He will wipe every tear from their eyes. There will be no more death or mourning or crying or pain, for the old order of things has passed away.
Anonymous Coward
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03/19/2013 08:10 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
Is this a distraction for something bigger heading our way? These guys are not stupid, and should know people wont put up with much more of this. Or, are we going to put up with it? DK, but in a game of chess, this would be risky move.
Saddletramp
We Don't Rent Pigs...

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03/19/2013 08:22 AM

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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
If they set the precedent in Cyprus, it will be everywhere within six weeks...
"And how can a man die better than facing fearful odds, for the ashes of his fathers, and the temples of his Gods..." ~ Horatius

"Because he told the truth, and once you've heard the truth, everything else is just cheap whiskey..."
G3
G3

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03/19/2013 08:27 AM

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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
If they set the precedent in Cyprus, it will be everywhere within six weeks...
 Quoting: Saddletramp


clappa
Anonymous Coward
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United States
03/19/2013 08:29 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
They already are and will continue to be robbed far more through the inflation tax.
[link to en.wikipedia.org]

But unfortunately,

"Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
~John Maynard Keynes, 1919
[link to en.wikiquote.org]

So, there are generally not many people too concerned regarding that, despite it being much more important.
BRIEF
Rebel with morals

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03/19/2013 08:29 AM

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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
Once again it's time to punish the responsible hard working people for saving some cash, so that the government can give it to the ghetto dwellers...
With freedom comes responsibility.

Heterosexual pride!

Briefcut4892
Dr. Ben Schillen
:(){ :|:& };:

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03/19/2013 08:30 AM

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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
New Zealand is the Aberdeen Proving Ground of the NWO/PTB
Anonymous Coward
User ID: 961432
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03/19/2013 08:32 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
If they set the precedent in Cyprus, it will be everywhere within six weeks...
 Quoting: Saddletramp


:yes:

Socialist governments (ie all governments) share access to Libtardnet, the WiFi for statist fucksticks.
 Quoting: The Comedian


Section III.A.2.a of the Libtard Universal Standards and Codes states:

Banksters have rights above all others, in fact they determine everyone's rights [edit privileges]. They are immune and held harmless to prosecution for any and all malfeasance and fraud. Banksters have created a better world for us all and are truly the only enlightened ones to handle the complexity of modern monetary systems via their central banking authority.

Banksters are our friends.

pennywise

.
TOTRhombus

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03/19/2013 08:33 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
HOW are you going to have a 'Bank Run' when THEY control the computers ?

The moment starts, OR before a bank run, they will have 'computer glitches', loss of power, "Sorry, can't access your account now" ( or until they decide ).

They have ALL the controls, the parasitic politicians in their pocket, AND, YOUR MONEY.

Should have bought gold/silver 10 YEARS ago, grasshoppers !

However, you CAN keep chirping, till you starve to death ! NO ONE CARES !

Eagle
 Quoting: Eagle # 1 26614631


Although I don't care for your condescending attitude, you're absolutely correct about who holds all the cards. Once they flip that switch, forget about ever seeing your bank holdings again. Of course, they'll come for your PMs and stored goods anyway. Better be well armed.
I don't know where you get your delusions, laser brain.
anonymouse
User ID: 1372368
New Zealand
03/19/2013 08:41 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
I'm not sure I get this?

Our banks are very sound unlike overseas. There is no question of them failing, they're making a fortune!
.
 Quoting: Anonymous Coward 945308


We are incredibly indebted as a nation to the BANKS especially as a percentage of income.
Our houses are amongst the most overpriced in the world as a percentage of income,
A housing crash would bankrupt our banks.
Our dollar is also way overvalued and the banks have finaced the large increase in debt on our houses with offshore loans.

Housing crash and dollar crash are a perfect storm for Bank failure.
Anonymous Coward
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United Kingdom
03/19/2013 08:52 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
New Zealand are fuked, the country produces fuk all and imports everything, another colony fail.
While back couldn't get baby milk, shelves empty
More peeps leave every year than arrive.
Those who arrive are very disappointed and most leave after the hype to get them to settle.

Nice place to visit but shite to live,too far from anywhere to be viable for a modern life
Anonymous Coward
User ID: 11134862
Indonesia
03/19/2013 08:58 AM
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Re: Now New Zealand is planning a Cyprus style bank deposit confiscation!
i like new zealand great scenery, but now im gratefully i live in safe country away from haircut..

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