Deepening Financial Crisis - Your Savings As Seizable Government Reserve

An alarm has begun to sound in Europe, an alarm of shock, disbelief, and dismay. For Cyprus to receive a bail out of 10 billion Euros, it has had to accept negotiated consequences of levying a one-off tax against the savings of its people. Rightly, the Cypriot and non-Cypriot people with savings in Cypriot banks are not happy about this, and thus the Cypriot financial system potentially teeters on a financial collapse due to a possible run on Cypriot banks.

The Cypriot people want to withdraw their money, but it is already too late for them. Banks are closed, and electronic transactions have been blocked, halting any chance of the people rescuing their money from the levy that comes into effect on Tuesday 19th March. In effect, the levy has already been applied before its activated date. Until Tuesday, it should be business as usual, but this is not so, people have been blocked from withdrawing their money, and thus, regardless of the reason, its importance or neccessity, has to construe an illegal state act of financial prohibition.

Those of us in other European and non-European countries not directly affected by this state seizure of people's savings in Cyprus, will no doubt look upon this as a 'test bed' for future seizures by other countries governments. How the Cypriot people react will determine to some degree the manner in which future seizures will be applied elsewhere in other countries. There is no doubt that the negotiators to the bailout expect some form of unrest and anger, only the scale of its ferocity will sway the levy to re-negotiation. Then again, perhaps, a re-negotiation was always on the cards. The people respond with vociferous anger, the negotiators return to the table and come back with a diluted form of the original plan, thereby getting acceptance and compliance from the people to the idea of the seizure, allbeit in a diluted form? Brilliant manipulation is it not?

Instead of losing 6.75%, you only lose 3.5% (for instance), and grumbling reluctantly, one thinks one has escaped the worse of it, while the financial elite get their injection of billions of Euros. Except for one important point, they have still seized money from the people's savings!!

It will be often pointed out by certain people, that it is better to lose a little than to lose a lot. That it is better to stave off financial collapse by bailing out and propping up the companies that have brought the country (or countries) to the point of financial meltdown, rather than letting them fail, as the consequences will apparently be more severe? Regardless of what path is taken, hardship is what you are buying for your future. The only difference between financial collapse and staving it off is, that by staving it off you are effectively saving the very companies that caused the financial debacle, and are thus rewarding the people of those companies...are they losing their jobs whilst you are losing yours to economic austerity measures? I think not.

They played the gamble, and now you and I are having to pick up the tab. Not by any stretch of the imagination do I consider that right in any moral social sense. As far as I am concerned, you and I should not have to pay a single penny towards financial recovery...our money has already been taxed. It's the principle of the thing, and the moral righteousness of it! If I am going to suffer I damn well expect those that created the mess to suffer more profoundly. That is justice, but I am not seeing it. As I am struggling just to survive daily, those bastards who caused it all are living in the lap of luxury, still getting absurd bonuses, and not struggling at all. No! Collapse the system! At least that way everyone suffers equally!

This crisis has been prepared for and expected for over the last thirty years. Deregulation of financial laws, and new schemes introduced by which to get the ordinary man and woman to save money in banks, pension schemes, and other investment avenues, were created in order for one thing, to give governments pools of reserve money to seize in relevant crises.

Government debt is now out of control, and but for the fact that interest rates are being kept artificially low, many countries would already have seen utter financial collapse. It is the rise in interest rates that you will need to look out for, because rise they eventually will, but governments will come to seize your personal savings long before they rise, as it will be a mechanism they will implement to try to stave off collapse, but with little to no guarantee that it will work. Financial collapse is actually underway, but it is being controlled and slowed, so that the man and woman in the street don't fully cognize that fact.

Austerity measures are mechanisms being used to stave off collapse, not to pay debt that cannot ever be paid. Austerity measures are not means to recovery, but the last gasping financial breaths of countries that cannot pay their debt, because it is of a magnitude way beyond its GDP! Seizures of personal savings are nothing more than temporary morphine injections into the veins of a dying austere carcass.

Banks are nothing more now than reservable pools of seizable assets which governments look upon as useable resources. Yes, it may well be your money, but you're not the only one whom may use it. Governments only have to manufacture a crisis in order to justify grabbing it.

Think not that buying gold and other commodities will save you. Roosevelt's Executive Order 6102 in 1933 prohibited people from hoarding gold as a means to safeguard their money, and such an order will be used again if necessary. So, no matter how much you have locked up in whatever commodity, they will take that as well.

Will a recovery occur? The answer to that is both 'no' and 'yes', with emphasis on 'no'. In order to fully recover, the system has to change completely and utterly, and it may be that they are trying to do this behind the globalising agenda. They will make it as bad as controllingly as possible, so that the people's of nations will accept the path of the agenda. Only when they have our full compliance will they allow a recovery to take place.

That's a pretty grim outlook if you ask me.

I can only imagine the response of people in the US if this sort of thing was carried out.

If I'm not mistaken, you kinda took the whole roosevelt;s executive order 6102 thing out of context. Suggesting that it wasn't a bail out thing , although it was stealing property from people... weren't they given notes as a replacement?

Just wait for insurance costs for smaller banks to keep going up in the US and watch all the smaller community banks collapse. That's how you get out the little guys... become a little more dependent on the big guys. Then it becomes even more necessary to bail them out.

People have known about this for years lol. Nothing new under the sun... even a pyramid hahaha.

Oddly enough(if you knew me), I'm not as opposed to what took place as one might think. I am willing and always will be willing to give 10% of everything I have at one time in attempts to rescue the economic prospects of my countries sustainability.

Damn it! lol

and that's where they get ya...

How do you people not realize that the banks are owned by the same people who own our governments. Leaving your livelihood in their hands is pure insanity. Get out of the banks, get out now.

I remember a couple of years ago (or was it last year?) when Bank of America tried to charge a $5 monthly fee for using your debit card. Other banks were going follow suit but people got angry and started pulling their money out so they decided not to do it.

But this Cryprus cisis, wow...How sneaky. Taking the money out of your account and closing the banks so you can't retrieve your money until it's already had the 10% taken out. (or whatever per cent of your account holds)

You know it's going to start happening elsewhere. What a screwed up world we live in.

RetiredNature:

I am willing and always will be willing to give 10% of everything I have at one time in attempts to rescue the economic prospects of my countries sustainability.

I fully understand where you are coming from, but find it hard to reconcile the 'rescue' to the 'crime', whether that crime is one of ineptness, or downright illegal activity. The point about paying taxes (sans crisis) is to help both build and sustain a stable economy. To allow the government to pay for the neccessary things, and to give the nation's people the country it can deservedly live and be happy in. So, after paying taxes, the citizen should no longer be required to give any further percentage of his or her savings to rescue their country from a crisis not of their making.

Unfortunately, it's a lot more complicated than that though, isn't it? Both America's and Britain's debt (for instance) far outstrip their GDPs, and the fact that for every dollar or pound printed, each government has to pay a small interest on it, because the people through their government do not own the currency of their own country. If they did own it, they would have no interest to pay, and that would reduce the debt by a very profound and significant amount. So instead of doing the right thing for the people and re-taking ownership of the people's currency, which they should have done in 2008, they would rather seize the personal savings of the people. Talk about cronyism!

Don't get me wrong. I am willing to participate in a rescue as long as it temporary, that it is a rescue, and that it will work. Also, that the rescue punishes those that created the crisis, but this is not what we have. All that is happening is a continual propping up of the system that created the crisis, and I will not participate in that! You, yourself, claim you are happy to give 10%, but why not 20%, or even 30%? At what point does it all become unpalatable to you? For me it is 0%, and I am not being selfish, but principled and righteous, because as far as I am concerned, I have already contributed to the society I live in through the taxes I paid on what I earned (if working) and the products I bought and continue to buy.

I am not prepared to rescue someone from their own greed or mismanagement of their funds or someone else's funds. They should be punished accordingly, not rescued and retain their position!

Quite simply the system is wrong, and will eventually collapse through unsustainability, it might as well happen today other than tomorrow, and if that means full and utter meltdown, then so be it. The only hope in this grim and gloomy situation is that from the meltdown a new and fairer system arises. Above all, that the people take ownership of their country's currency.

reply to post by retirednature


You need to think of it a little more deeper than just another 10 percent.

The rules are set in place to rob you. Captolism cannot work in a long term setting. Corporate greed dictates policy and this is where the policy is not written for you and i. It is,written for the big money players of which we are not.

that is,what they are banking on, you not minding for,another ten percent.

I am hearing that the spanish and asian markets are falling. The Dow is down 93 pts now, too, and falling...

Apologies first off I know jack all about the financial business the question I want to ask is .. I'm going on holiday to Cyprus on June 9th what should I expect ? If anything

Originally posted by ThePeaceMaker
Apologies first off I know jack all about the financial business the question I want to ask is .. I'm going on holiday to Cyprus on June 9th what should I expect ? If anything

Have enough money sources so you won't have to rely on ATMs. Tourists can't withdraw money from ATMs right now. Who knows what the end result will be by June. Just keep an eye on it.

reply to post by texasgirl


Cheers thanks I usually have cash all the time on my holidays plus the hotel is all enclusive so I won't need money that much. Just wanted to ask or see of there are any thing I should do to make sure I don't come unstuck

www.abovetopsecret.com...

When billionaires start selling off for hard assets and shorts on the market in all sectors are the norm it doesn't take spidy senses to know sumpin' is a comin and it aint good

reply to post by elysiumfire


Good post E.. the only paragraph I disagree with is..

"Banks are nothing more now than reservable pools of seizable assets which governments look upon as useable resources. Yes, it may well be your money, but you're not the only one whom may use it. Governments only have to manufacture a crisis in order to justify grabbing it."

2nd sentence: It is NOT our money and that is the problem. The money we all use is owned by the central bank of our respective countries. The Fed in the U.S. and ECB in Europe. They, the central bankers, charge us interest to use THEIR money. Those are privately owned banks and they issue their own money for us to use which is why if they choose to turn on the printing presses the govts don't say anything. It is also the reason Bernanke told congress to mind their own business when it comes to the Fed's privacy, ie.. the Fed's money, not ours!
www.huffingtonpost.com...

reply to post by liejunkie01


Capitalism is freedom to make your way and it can and would work for everyone if politicians didn't pass laws to ruin the competition for their big business buddies. Corrupt politicians allowed private bankers to handle the countries money in return for a favorable future for themselves I'm sure.

What savings? I am broke.


Posted Via ATS Mobile: m.abovetopsecret.com

Sort of makes putting my savings in a coffee can look a little more appealing!!! Why not call it what it really is though, theft!

Anyone who wants to blame capitalism on this,

YOU ARE STUPID!!!

Who is stealing the money?
Who allowed the the banks to spend all the money?
Who controls the banking regulations?

It's the GOVERNMENT STUPID.

The governments of the world and the banks, are one and the same.
Guess what that is??

Socialism.

Not sure how much Cypriot banks insure, but in the US the FDIC insures up to $250,000 per account. Having more than that in any single account is dumb. Any accountant worth their salt will tell you the same. If a bank run does happen here, only those who bank unwisely will be compromised. Well, and those who count on the financial sector to improve.

I've heard that Wells Fargo is moving assets into Goldman Sachs.

I don't exactly know what this means, but the last time I heard about all the tangible assets of entire small businesses being moved like this was back in '08.

Back then ('08) it was other investment firms throwing assets into Fannie and Freddie Mac -- a month or two before they were bailed out.

Perhaps Wells Fargo is about to tank? What better way to take care of toxic investments? Put them into an institution that'll be bailed out!

Anyone know anything about the state of Wells Fargo?

ETA: I had it backwards...it was Wells moving stuff into Sachs sorry!

I dont "do" savings.. Invest in hard goods that can be traded or are of value, food stocks, guns, ammo, knives, crossbows, arrows, bows, 550 cord, tents, ect.

Dont waste on gold/silver. If/when TSHTF you cant eat gold/silver.

Originally posted by ThePeaceMaker
Apologies first off I know jack all about the financial business the question I want to ask is .. I'm going on holiday to Cyprus on June 9th what should I expect ? If anything

Oh really, wow, lucky you. What holiday, thanksgiving, Christmas, Easter? its called vacation to us normal folk, and why would you pick Cyprus of all places?