Shock in Cyprus as Savers wake up to bailout levy - they're coming to take your money

reply to post by watcher3339


Yes I too have noticed this convergence. I believe a one world currency is inevitable eventually but it is still some way off.

I kind of figured there'd be some kind of universal currency instrument in the middle of all inter currency (and eventually all) transactions, and this would be implemented and overseen by one of the major banking institutions such as the IMF or other yet to be realised organisation.

Originally posted by Rockpuck
reply to post by merkins

 

They deserve it for being in the EU and for submitting to the IMF.

Wow what a wonderful one line post that really engages with the subject and provides a worthwhile contribution to the thread. Your insight would be priceless if the government didn't want 10%

And to think you may even have been able to come up with that sentence entirely by yourself. I'll dig out some of those little star stickers my neice gets at infant shool.

The audacity of this snatch and grab of people's money saved in banks is just incredible, but it is also very very serious indeed.

www.bbc.co.uk...

At Germany's insistence and as part of the bailout received, the Cypriot government has levied a supposedly one off payment of 10% on all people's savings. The reportage of the act is using financial jargon to sanitize and soften the 'grab' by calling 'savers' investors, and because you're an 'investor' you are gambling your money, even though all you are doing is saving money when you can. You're not an 'investor', you're a 'saver', wanting your money to sit in an account for a rainy day. Only you should be able to take money from your account, but not now, not with this little trick. What a precedent it sets up for other countries!

Cyprus is the test bed. From Monday onwards, Cyprus could spiral out of financial and social control if it is not careful. People will be turning up at the banks and will want to withdraw their money before some of it is gone, but the banks will not let them do this. The lucky few may get to withdraw all but 10% of their savings, but as the run on the banks grow, and people start getting refused and begin getting angry, Cypriot society may receive a jolt!

Then there is the spread effect to other countries where savers may fear a loss to their savings in the future. Whose going to trust governments or banks after this? I can't help feeling that this is engineered and planned to cause a particular reaction.

Europe is turning into an over-boiling crucible of rage. Bailouts, austerity measures to cover the bailouts, high unemployment everywhere, and no recovery in sight (regardless of what is stated in the MSM), in fact a greater downturn looks on the cards. meanwhile, those who created all this are still living in obscene luxury and laughing at us!

Addendum.
Cypriot people can't do anything about this because it is happening over a bank holiday weekend. It was timed for the holiday. I would expect Cypriots to go to the banks on Tuesday and find 10% of their savings gone!
Now, supposing you don't have any savings, just your wage going in. You've already been taxed on your wage, so is 10% of your net earnings that went into the bank going to be taken?
Many people in the commentary sections where this story is unfolding are suggesting that people throughout Europe take their money out the banks.

This is the reason i don't have my money in the bank. I don't trust them thiefs with my money. And if they pull a stunt like that over here it's gonna rain molotovs on the banks. The roof the roof the roof is on fireeee we don't give a $^@% let the %$@^^&#$^^#$%^#^^ burn burn burnnnnnn

reply to post by elysiumfire


Thank you for your post and the effort made in writing it. However most of what you've stated has already been stated in posts in the thread. It would have saved you some effort if you'd read it. Star though for a well thought out post.

I may be wrong but I believe their banks don't open until Tuesday, not Monday. All the ATMs will be empty or shut down before that. Crunch time as I have already stated will in my belief be lunchtime Tuesday....Some people are not going to ge able to purchase food.

Additionally as already stated the percentage for some is not 10%. The theft begins at 6.75% for everyone with less than €100,000 in their bank. It becomes 10% above that mark. I believe any billionaires with have probably been given the nod to get their cash safe days ago.

And as I already stated, yes you are right this is a test bed. This small easily controllable country, population, and economy is a perfect 'live' gaming scenario/exercise for the TPTB to test public reaction and to learn from any mistakes for the next state they roll on to to perform the same theft. Our reaction to this is just as important, if not more so than those of the cypriots.

This is a huge development in the NWO story that may only be recognised by most in hindsight. More people shouldnbe discussing this on ATS but so many ATSers are put off by anything financial.

Well at least it's getting attention on the MSM in the UK.

Another area of concern are the deposits held in cypriot banks outside cyprus Currently on then BBC they are stating that UK deposits should be safe. Will that last? Whe'll have to wait and see. This is for such as small total levy purse that it seems designed to specifically target the less well off.

reply to post by elysiumfire


Now this statement is interesting and one I wholeheartedly agree with you on.

Europe is turning into an over-boiling crucible of rage. Bailouts, austerity measures to cover the bailouts, high unemployment everywhere, and no recovery in sight (regardless of what is stated in the MSM), in fact a greater downturn looks on the cards. meanwhile, those who created all this are still living in obscene luxury and laughing at us!

You forgot to add that it was "executed entirely deliberately and by design.".

I also believe we're not just facing a downturn but a collapse of a system that is in some respects already happening in slow motion in front of us. This enables them to syphon off as much power and money as they can. And that is not so easily performed in a quick multi state collapse.

PS they always give seriously bad banking and financial news over bank holidays. Sometimes even new bank holidays pop up for that purpose.

The majority of the politicians of Europe like to pretend that they take a stern dislike to dictatorships, fascism, censorship of the press etc. Yet so many openly campaign for the creation of a dictatorial super power with no regard for accountability, or the lives of the plebs they rule as though cattle. Today we have seen another piece of evidence that proves this to be the case.

They may be mendacious, glutinous and evil but they are not as a rule stupid, so I think it likely that the EU has considered the possibility of a run on the Cypriot banks and probably concluded that any fallout in such a small country is manageable. But I also believe they will be watching the reaction of the citizens of Europe very closely over the next month or two. If there is little or no reaction then I am sure that every further bailout given by the ECB will include the theft of private cash.

Personally I would like to see the people of the Med go wild! Burn everything EU to the ground and take control of their own destiny, instead of allowing their so called leaders to pander to foreign powers. I'd like the same in Britain too but I will settle for a large UKIP vote for now.

Welcome to the EUssr please leave your assets at the gate and have your papers
ready comrade!

transfer assets to physical precious metals and store them yourself asap.

Expats in Cyprus giving updates on the situation, seems ATM's offline.

www.bbc.co.uk...

I think the following is quite succinct in its statement...

www.youtube.com...

This is outright theft. I found another link for this thread news.sky.com... I am shocked that individuals money is being stolen from them like this.

This is a very scary development, the worst part being it probably isn't going to work long term anyway.

Truth is much of the world's economy is treading water, at some point bailout is going to tire and become non viable.

Unfortunately the world is having a real life "Skynet" scenario, the weapon of choice being money, society is being turned inside out, in a slow and painful manner, all they are doing is "firefighting" in the face of inevitability.

I don't think we are anywhere near rock bottom yet and I think it will take nothing short of a miracle to avoid it.

Of course I am hoping that I am wrong...Please someone tell me I'm wrong.

Tacitus knew about the evil EU when he said;

"A shocking crime was committed on the unscrupulous initiative of few individuals, with the blessing of more, and amid the passive acquiescence of all."

Things never change, do they?

I wouldn't have any money to take but we should show solidarity to the people who have been robbed directly by the bankers. This is a sign of things to come and is outrageous.

I think the people in Cyprus not only lost 10% of their value today but also companies did and especially smaller companies will get difficulties paying salary to employees, which means the people in Cyprus are being f.... twice??

Originally posted by watcher3339
reply to post by merkins

 

"debt is good in hyperinflation"
On a personal financial basis: if I buy something on credit and owe 100K. I have to pay the annual interest on it (which has been historically low). I consider the cost of the interest to be rather like an insurance policy against inflation. If the expense of the interest is low enough, then I can pay it for the opportunity to keep cash on hand -- or better yet invest it in something which would hold value in the event of inflation. Then, if inflation strikes wages will rise and I will use those new, higher, wages to pay off the old debt which was at the former rate of exchange. Given that goods will increase in cost under inflation - hyperinflation will have benefited me in keeping with the amount of my debt. The sheer amount of debt facing the governments of the Western world is part of what makes me think hyperinflation (or a slow but oh so steady increase in inflation) could happen.

The danger with that scenario is over extending yourself in debt. So, I consider it important to keep cash or other assets equal to the debt so that the debt, while it exists on paper, isn't actually money owed that I don't have. The only cost is the annual interest. A fixed rate is important though, especially if you don't keep the full amount of the debt owed available. You wouldn't want to suddenly find yourself unable to pay the debt and charged a much higher interest rate. That would be a recipe for disaster!

Link

edit on 16-3-2013 by watcher3339 because: added link

Very close but there is a but or a better way to do this.

Hyperinflation leads to hyper interest rates. If you want the candy as well, take the original loan out for a fixed interest rate. This will be a few percent above the variable rate. When inflation hits, everyone else is paying say 30% interest while you are still paying 6% for the life of the loan.

In this way you get to have your cake and eat it at the same time.

In the Eighties we had high levels of inflation. I worked with a guy that had done this. While everyone else was paying 15% interest, and having a hard time doing so this guy was coasting on 6% interest.

P

If you are still using the banking system, it is your own fault when this happens to you. Get out, get out now.

reply to post by citizenoftheworld


I was thinking the same thing.

This wasn't necessarily taken from people who don't need their money right away (not that it would be OK either).

But this is from people who were saving for a down payment on a house, businesses who pay need to purchase supplies for their operations, individuals with bills owed, tuition... who knows!

I can't believe they came up with such a dud of a plan. The article also mentioned no minimum so it could be as low as some poor person with very little in savings and where every penny counts.

Hopefully the people will revolt and will have the world's full support.

Originally posted by citizenoftheworld
I think the people in Cyprus not only lost 10% of their value today but also companies did and especially smaller companies will get difficulties paying salary to employees, which means the people in Cyprus are being f.... twice??

Star! They lost 10% of their assets, Citizen. Their value is in their labor, and
their ability to make and do stuff for the slavers. I would find it hard to believe
an industrial or better yet general slowdown in productivity wouldn't be soon
coming: maybe right around 10% would be fair and predictable. Hey it worked
in the former Soviet Union for awhile. Maybe it's time for Cyprus to go suddenly
soft rather than burn.

reply to post by merkins

This was to be expected for those who kept an eye on Lagarde and her criminal bankster peers.
I'm not saying the Cypriots deserve this in any way though... Michael Sarris is a traitor to the people of his country IMO.

For those who didn't see this coming: this should be your final wakeup call.
This is exactly why the Banksters cannot be trusted.

Posted earlier here:
www.abovetopsecret.com...

Please add further comments to the ongoing discussion in the above linked thread.
Thanks

**Thread Closed**


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