Greek banks prepare to raid deposits.

Hi. Although this is what we all thought would happen I'm merely verifying the idea that Greek banks are now preparing a plan to raid the deposits to the tune of at least 30% on deposits of over €8000. That is a lot of money which will be hitting a lot of people on greece. This to me is blatant theft and makes me angry even though it isn't my money. This action will in my opinion strengthen the resolve of the Greeks who will not take the aggressive tactics lightly.
“I urge you to say no to ultimatums, blackmail and fear. To say no to being divided,” Tsipras.
The Greek finance minister got it best I feel by stating exactly what it is....terrorism.
link

a reply to: liteonit6969

So when someone opens a bank account, is there some fine print somewhere which states that your money can be seized at the bank's discretion? I mean, what makes this "legal" and not simply "robbery"? You work and save and then the bank just keeps it? I think a move like that would mean blood and lots of it here in US.

a reply to: liteonit6969

“I urge you to say no to ultimatums, blackmail and fear. To say no to being divided,” Tsipras.

Big deal, that referendum' isn't binding anyway, voting for against it is feel good only. Nothing changes.

If Greece is allowed to dictate terms of debt to creditors at all, then all the EU nations will start demanding equal rights for their debt, too. Never happen.

One big foreclosure on a whole country.

a reply to: liteonit6969

To be fair, all those Greeks with money saved have probably dodged taxation, got a job through nepotism or have been retired "early" (and by early, it is many, many years before normal retirement - they only recently raised the min. retirement age to 62 - some retirement ages were as low as 45!) or even paying benefits to dead people!!

Some info as to why greece is bad

Whilst it does suck for the Greeks, they have been living the life of Riley on others people's money for too long. The Greek Government of 2001 saw this coming and tried to sort it out, but the Greeks would have none of it back then.

They knew they weren't collecting taxes, they knew jobs were being given to family members which didn't even exist and they knew the early retirement program would bit them in the arse, yet they did nothing - the entire nation had their snouts so deep in the trough none of them could lift their heads out of it and see what was going to happen.

At some point, you have to pay the piper

originally posted by: Urantia1111
a reply to: liteonit6969

So when someone opens a bank account, is there some fine print somewhere which states that your money can be seized at the bank's discretion? I mean, what makes this "legal" and not simply "robbery"? You work and save and then the bank just keeps it? I think a move like that would mean blood and lots of it here in US.

It isnt at the bank's discretion , but the government's . The banks will be hurt by this as a lot less capitol for them to exist on.
As far as the US goes , do you remember once upon a time in history , when the US Government confiscated all precious metals from the people's hands and made it against the law for the common populace to own these ? Yes , it can happen here

And it will make it so much better for the dastardly thieves to do away with cash. Now you know why there is a big push to do away with cash in societies.Barter systems and alternatives should be done by the common people. Of course at some point you have to buy resources and they will have that. I remember my grandparents keeping cash at home because they did not trust the banks. That is why the FDIC in the US was formed to insure the deposits so people would use banks. Now governments just decide to saddle us with their debt and take your money when you worked for it. It is robbery and for all intents and purposes at gunpoint of the police and military should you revolt against them.

a reply to: spirit_horse

That is why the FDIC in the US was formed to insure the deposits so people would use banks

And a cap was set up to where they dont insure for the entire capita .

a reply to: Gothmog

So there really are no advantages to using a bank to store your money, only risk? Why does anyone continue to fall for this trick? What a scam. I think i'll go ask for all my money on Monday. Id like to keep it.

originally posted by: Urantia1111
a reply to: Gothmog

So there really are no advantages to using a bank to store your money, only risk? Why does anyone continue to fall for this trick? What a scam. I think i'll go ask for all my money on Monday. Id like to keep it.

As I said , it can happen here. And has in a way. Will it happen in the US? It will take an awful lot of financial collapse here to begin even thinking about it.
The issue with Greece was that their GDP was far less than the money owed. The government was busy spending money that they didnt have. Then borrowing money to pay just the interest that was owed. And they were cut in their credit rating down to almost bottom level. This means the more they were lowered , the more interest they had to pay on each loan. A sort of vicious cycle.

But bitcoins.

originally posted by: Urantia1111
a reply to: liteonit6969

So when someone opens a bank account, is there some fine print somewhere which states that your money can be seized at the bank's discretion? I mean, what makes this "legal" and not simply "robbery"? You work and save and then the bank just keeps it? I think a move like that would mean blood and lots of it here in US.

The Government/PTB can change the laws or sign executive/emergency orders and do whatever whenever they want. This is going to happen in Greece eventually.......Greeks should stop saving money in banks. They should buy gold and silver if they have some money because that will still be worth something.

Yet still the precious metal markets seem to defy this chaos and are still in decline.

If there's been so much capital flight from Greece over the last few weeks, where's the money gone?

It just doesn't add up at all.

MR

originally posted by: Marlborough Red
Yet still the precious metal markets seem to defy this chaos and are still in decline.

If there's been so much capital flight from Greece over the last few weeks, where's the money gone?

It just doesn't add up at all.

MR

Greece did not have very much money left.......It has been leaving for sometime now. This is why even with a new bailout Greece will still fail in time. It might take another 6 months but it will fail.

originally posted by: onequestion
But bitcoins.

Buying Bitcoins is like playing the lottery.......Anyone with financial sense will only do this for fun or low risk small investment. PTB control the currencies and that means they could pass laws banning bitcoins overnight if they wanted.

a reply to: Marlborough Red

Yeh the gold dropping is interesting. You are getting a lot of informed people saying it will rise when the economy drops. Not correlating with inflation but with government confidence. However I read an article claiming from a leading analyst that gold will drop to $200 per ounce. I'm going with the former. However It doesn't really matter if it all comes down and as said before used for bartering and not used as a commodity.

a reply to: liteonit6969

do you have a link that is not behind a paywall? i dont subscribe to finacial times but was interested in the OP


www.cnbc.com...

Greek banks are preparing contingency plans for a possible "bail-in" of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday. The plans, which call for a "haircut" of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.

nm my bad op i decided to not be lazy and just find a usefull link my self

a reply to: stumason

Everything you have said there is exactly the narrative the msm is shoving. For example you have named your link....why greece is bad. Hmmmm.
When you say the piper has to be paid...who is this piper? Do you not understand that take away the illusion of money then society will work a lot better. This idea of money is merely a control tool. The Greek people work as hard as anyone in Europe. The propaganda about retirement ages etc are ridiculous. We are being pushed to work until we drop.
Who needs prisons when you have this debt system set up. Imprison someone with a mortgage and have them working the rest of their lives to live in a house that they will probably end up have repossessed.

I genuinely hope the whole system comes apart. A lot of people will probably suffer but that is what is already happening. The point is we are on the right side of the fence. Look at those in underdeveloped countries starving and dying. That is the production of the monetary system.

originally posted by: SubTruth

Buying Bitcoins is like playing the lottery.......Anyone with financial sense will only do this for fun or low risk small investment. PTB control the currencies and that means they could pass laws banning bitcoins overnight if they wanted.

Like China?

Also bitcoins are not very safe in there has been a couple of big scams (100s of billions of dollars) with what were considered honest bitcoin brokers.

a reply to: stumason

This is no disrespect to you, but I HONESTLY think you must be a disinfo agent or are quite easily-influenced, thus the PTB have been so successful at manipulating your understanding of the situation.

Speaking of "living on other peoples' money too long", you know who else has been doing that? EVERY "developed" nation, ESPECIALLY the West.

The Greeks are just the first to take the hit for the murderous, greedy bank1ng cartel. Do you really think it's the Greeks' fault? If so, I think you need to do a bit more research

originally posted by: Xtrozero

originally posted by: SubTruth

Buying Bitcoins is like playing the lottery.......Anyone with financial sense will only do this for fun or low risk small investment. PTB control the currencies and that means they could pass laws banning bitcoins overnight if they wanted.

Like China?

Also bitcoins are not very safe in there has been a couple of big scams (100s of billions of dollars) with what were considered honest bitcoin brokers.

Bitcoins are a like playing the lottery......You might win.....you might lose. If they ever gain real traction they will be banned and worthless as the PTB keep control on the system with debt based fiat currency pushing central banking controlled oligarchies.