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Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!

 
waht
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03/28/2013 02:50 PM
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Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
The politicians of the western world are coming after your bank accounts. In fact, Cyprus-style bank account confiscation is actually in the new Canadian government budget. When I first heard about this I was quite skeptical, so I went and looked it up for myself. And guess what? It is right there in black and white on pages 144 and 145 of “Economic Action Plan 2013″ which the Harper government has already submitted to the House of Commons. This new budget actually proposes “to implement a ‘bail-in’ regime for systemically important banks” in Canada. “Economic Action Plan 2013″ was submitted on March 21st, which means that this “bail-in regime” was likely being planned long before the crisis in Cyprus ever erupted. So exactly what in the world is going on here? In addition, as you will see below, it is being reportedthat the European Parliament will soon be voting on a law which would require that large banks be “bailed in” when they fail. In other words, that new law would make Cyprus-style bank accountconfiscation the law of the land for the entire EU. I can’t even begin to describe how serious all of this is. From now on, when major banks fail they are going to bail them out by grabbing the money that is in your bank accounts. This is going to absolutely shatter faith in the banking system and it is actually going to make it far more likely that we will see major bank failures all over the western world.

What you are about to see absolutely amazed me when I first saw it. The Canadian government is actually proposing that what just happened in Cyprus should be used as a blueprint for future bank failures up in Canada.

The following comes from pages 144 and 145 of “Economic Action Plan 2013″ which you can find right here. Apparently the goal is to find a way to rescue “systemically important banks” without the use of taxpayer funds…


Read more at [link to investmentwatchblog.com]


gaspalone
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03/28/2013 02:51 PM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
5, Mp
Chrit

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03/28/2013 02:53 PM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
tomatopin
I'm only human, it's my biggest flaw.

We must all realize a sink a chair and a pillow are all luxuries of home and a soldiers helmet takes the place of all three.
Skepticnumberone

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03/28/2013 03:08 PM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Is the U.S. next? I would bet there are already plans in the making for us.
Skepticnumberone
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03/29/2013 06:55 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
around Cyprus gas reserves have been found worth 200k for every single Cypriot, as a reward they rob their bank accounts #Cyprus #eu #banks
Anonymous Coward
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03/29/2013 06:56 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Is the U.S. next? I would bet there are already plans in the making for us.
 Quoting: Skepticnumberone


since most/all central banks are GS employees and your treasury is infected with them, I am sure this is true.

Nice to see the gubmint looking out for us.

Banks fail? Solution: take money from people. Nice.
Anonymous Coward
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03/29/2013 07:02 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
no surprise, at all


cyprus was no 'surprise' either... the PM knew it was coming... he warned his buddies weeks in advance


hell, if the jackboots in europe can get away with, why not spain, NZ and now canada?
Elwira

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03/29/2013 07:16 AM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Shit...I was wondering if that could happen here:(

Last Edited by Elwira on 03/29/2013 07:18 AM
Anonymous Coward
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03/29/2013 07:28 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
NZ and canada are NWO guinea pigs and NZ is the southern hemisphere equivalent of cyprus. a small, docile nation. easy peazy
Coquette
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03/29/2013 07:30 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Please inform yourselves instead of panicking!!!

Deposits and savings in Canadian banks are insured: [link to www.cdic.ca]
Anonymous Coward
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03/29/2013 07:55 AM
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bump
Anonymous Coward
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03/29/2013 08:00 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Please inform yourselves instead of panicking!!!

Deposits and savings in Canadian banks are insured: [link to www.cdic.ca]
 Quoting: Coquette 35733431


Sure it's insured because it's the law right? Like we havn't seen them ignore the law when it's convenient for them ie: MF Global, GM etc. etc.

And if you are lucky enough to get your money back, how long can you or are willing to wait to get your funds back?
Many in Cyprus are being told it could be several years before that get their money.
Word to the Wise
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03/29/2013 08:10 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
NZ and canada are NWO guinea pigs and NZ is the southern hemisphere equivalent of cyprus. a small, docile nation. easy peazy
 Quoting: Anonymous Coward 34765812



Incorrect.
Anonymous Coward
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03/29/2013 08:10 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Please inform yourselves instead of panicking!!!

Deposits and savings in Canadian banks are insured: [link to www.cdic.ca]
 Quoting: Coquette 35733431



Correct. Too much panic and assumption going on.
Anonymous Coward
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03/29/2013 08:11 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Please inform yourselves instead of panicking!!!

Deposits and savings in Canadian banks are insured: [link to www.cdic.ca]
 Quoting: Coquette 35733431


Sure it's insured because it's the law right? Like we havn't seen them ignore the law when it's convenient for them ie: MF Global, GM etc. etc.

And if you are lucky enough to get your money back, how long can you or are willing to wait to get your funds back?
Many in Cyprus are being told it could be several years before that get their money.
Word to the Wise
 Quoting: Anonymous Coward 36300966


^
Anonymous Coward
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03/29/2013 08:13 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
NZ and canada are NWO guinea pigs and NZ is the southern hemisphere equivalent of cyprus. a small, docile nation. easy peazy
 Quoting: Anonymous Coward 34765812



Incorrect.
 Quoting: Anonymous Coward 37063213


really? NZ is choc full of english people seeking the 'good life' away from all the hassle, just like cyprus. and the natives are generally equally as clueless. this is what happens when the shit's 'not on your doorstep'...
Anonymous Coward
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03/29/2013 08:17 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Maybe its time to pay a visit to our bank managers & ask him/her if our savings accounts are insured as in protected from a "bail-in". Let's find out & put our minds at rest. One way or another, we can all come back here & share what we were told.
Anonymous Coward
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03/29/2013 08:17 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Please inform yourselves instead of panicking!!!

Deposits and savings in Canadian banks are insured: [link to www.cdic.ca]
 Quoting: Coquette 35733431



Correct. Too much panic and assumption going on.
 Quoting: Anonymous Coward 37063213


IMO plan for the worst hope for the best. No panic necessary.
Elwira

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03/29/2013 08:26 AM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Please inform yourselves instead of panicking!!!

Deposits and savings in Canadian banks are insured: [link to www.cdic.ca]
 Quoting: Coquette 35733431


Thanks, did not know that:)
Anonymous Coward
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03/29/2013 08:30 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Is the U.S. next? I would bet there are already plans in the making for us.
 Quoting: Skepticnumberone


with $17 trillion in debt sooner or later they will take all private property.
waht (OP)

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03/29/2013 08:38 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
It Can Happen Here: The Bank Confiscation Scheme for US and UK Depositors

[link to www.washingtonsblog.com]
Anonymous Coward
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03/29/2013 08:39 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Please inform yourselves instead of panicking!!!

Deposits and savings in Canadian banks are insured: [link to www.cdic.ca]
 Quoting: Coquette 35733431


Thanks, did not know that:)
 Quoting: Elwira


Banks in Cyprus are insured to $100K Euros. Big deal - they're not insured against government theft.
Bluebird

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03/29/2013 08:39 AM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Is the U.S. next? I would bet there are already plans in the making for us.
 Quoting: Skepticnumberone


with $17 trillion in debt sooner or later they will take all private property.
 Quoting: Anonymous Coward 28870983




Yes, everywhere, too.

Our accounts are insured but in the case of massive failure, I doubt that this is worth the paper it's written on.

A government that will seize private accounts is not going to be one bit discouraged by a federal insurance. That's who is supposed to insure it--the government. And that's who is doing the seizing. See how that works?
One of the most important aspects of conspiracy theories is being able to discern when there isn't one.

Oh yeah, like you'd understand anyway.

Where are we going and why am I in this handbasket?. . .J. Handy
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03/29/2013 08:40 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
It Can Happen Here: The Bank Confiscation Scheme for US and UK Depositors

[link to www.washingtonsblog.com]
 Quoting: waht


Please stop using this stupid word "confiscation". It's STEALING - pure and simple.

If I break into your house and take your money and jewels, is that "confiscation"? Most folks call it theft, and will shoot you if they catch you.
NikkiK

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03/29/2013 08:42 AM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
Please inform yourselves instead of panicking!!!

Deposits and savings in Canadian banks are insured: [link to www.cdic.ca]
 Quoting: Coquette 35733431


From what I understand, at least in the US, an account is only insured up to $100,000. I believe in Cyprus the accounts over $100,000 will be hardest hit but the IMF has also proposed taking something like 12% of the first $100K. So that would seem to affect insured accounts. Their bank accounts are insured as well.

Of course I read this earlier and can't find the link now.
NikkiK

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03/29/2013 08:44 AM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
okay well here's this:

[link to www.zerohedge.com]
Ostria1

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03/29/2013 08:45 AM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
If it happens once somewhere it can happen everywhere. Do you think that they just came with this "brand new idea" all of the sudden?

sheep
Ostria
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03/29/2013 08:45 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
What about a credit union or a treasury branch?
They are not considered banks
Are they safe
Alexander

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03/29/2013 08:48 AM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
I find this whole movement of banks stealing depositors money from checking and savings both outrageous and depressing. It seems it's time to install a safe. It was bad enough with the interest they charge on credit cards (which we no longer use) and the bank bailout by the government. Where did all that money go? There is next to nothing on interest for savings so no real incentive to keep money in a bank these days.

Last Edited by Alexander on 03/29/2013 08:48 AM
The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is.
Winston Churchill
NikkiK

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03/29/2013 08:55 AM

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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
What about a credit union or a treasury branch?
They are not considered banks
Are they safe
 Quoting: Anonymous Coward 28107574


I bank at a credit union and used to work there. I think in general they are better for a lot of people because they are smaller, the fees are lower. They are also insured up to $100K but not under FDIC. It is under the NCUA.

At this point it would seem only banks that need a bailout would have an issue. Which makes me think a credit union would be far better than say, BOA.
Anonymous Coward
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03/29/2013 08:59 AM
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Re: Cyprus-Style Bank Account Confiscation Is In The New 2013 Canadian Government Budget!
yes thats good

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