Deepening Financial Crisis - Your Savings As Seizable Government Reserve

What I found even more appalling when digging into the Cyprus stealing, was that the IMF and Germany's bank (and we know what bloody lovely folks they are) originally wanted to scalp **40%** off the savers.

www.zerohedge.com...

it appears that the settled-upon 9.9% haircut is a 'good deal' compared to the stunning 40% of total deposits that Germany's FinMin Schaeuble and the IMF demanded

Dang. Wonder when it will happen here. Not much in savings for us, but nearly 90k in a Thrift Savings Plan (US gov't employee 401k). I've been trying to convince the significant other to at least "borrow" out half of it. In the mattress, in the safe, in silver, I don't care as long as it's not in someone else's hands!

Wrong on sooooo many levels! Yes, the money that people have to put in bank accounts is the money that they "get to keep" after let's say after paying taxes on their paychecks. Let's say they do this to help bail out a system the general public had no say in when making it, when people are able to withdrawal again, they wipe out their accounts...BAM! Another financial collapse. They are gonna lose with or without this "theft" of their accounts.
I'm not sure how it works there but in America we have a social security system nearing collapse. Ever year I receive a report for me personally. Every year it requires me to work longer (72?!) to collect my full check, but it clearly says as of now, I would only get 70% of what I should get. This will not last 30 more years for me so I work hard on saving. If I found they took a years worth of savings from me?!
I am tempted to remove all savings and put a 500 pound fire proof safe bolted to the floor in my house and go that route. There should never be a time when we are not allowed to access our money, nor a time they can take whatever they want to offset their poor spending habits. You KNOW they will continue to pay and bonus themselves just like the mortgage fiasco a couple years ago.
How they are allowing this blows my mine. I will watch to see what happens when everyone is allowed to access their money again. I bet millions or even a billion in withdrawals.

I bet nothing will be taken out from Cypriots' savings. Merkel was "expected" to demand it happen. It's just an act. Then it will be orchestrated that it will not be allowed. This is because, if it happens, the ripple effect will be too great for banks to sustain. Practically everyone across the globe will be thinking about taking money out of the financial institutions and converting it into hard assets (btw, putting all under the mattress is the silliest, most outdated thing one can do because these days, they don't need your paper money since they "remote control" the value of it a lot more easily through computer. ).

Cyprus and all European nations are at the mercy of the Euro. Since they can't print money out of thin air to devalue the currency to pay their debt like other countries can, the initial "act" was to rob the people which will soon be "cancelled". The next thing, if not already happening, is to take control of their lands and natural resources. These can be done much more easily as the majority of the people will not feel the immediate 'being robbed' effect. It is hard assets that the controlling cabals want. Not paper (money).


Cyprus President To Rehn: "I Told You Tax Wouldn't Pass. Regards To Mrs Merkel"

Cyprus is the test tube. Small and on the fringe. Controllable.

If the central bankers got away with this, they will get away with everything.

This must be opposed everywhere, let the governments know where the line is.

Originally posted by Iwinder

Originally posted by superman2012
reply to post by Iwinder

 

We have over 30 k stashed in our home

Can I come over and play hide and seek?

If the sheet hits the fan then sure you can, we have the room and the money to put up people.
You will need a Passport or more than likely a bullet proof swimming vest if they exist.
You will have to go North young man and when you get here you will need a shovel and map to locate the goods.

Regards, Iwinder

That last post above did not quite come out of my brain like I wanted it to.

The bullet proof vest comment was meant to convey you either escaping the USA and arriving here or you leaving the USA and dodging the Canadian Boarder Services gun fire.

Sorry for the confusion, we live on the Great Lakes here so water is a factor along with swimming
Regards, Iwinder

What is happening to bank depositers in Cyprus is a scary and potential precedent. All the more incentive for the voting public to pressure their government representatives to try to seriously resolve the debt crisis.

Im from the UK...5 years ago I was told I owed an over payment in some benefits I had received from the government...i explained I no longer lived in the UK and that it was unfair to demand the money back as I was unaware I had been over payed etc and that it was their mistake and not mine etc..The government said they would write off the debt in the phone call i had with them...Now I am contacted 5 years later by the same people demanding the same money again.
This shows how desperate things have gotten...if they are chasing people like me... 5 years after they wrote off debts for the same money.
I can see the system must be on the absolute brink of total collapse... I mean this combined with a lot of other disturbing developments in the UK...like the bedroom tax...loads of highstreets looking like ghost towns...and now this bank raid in Cyprus.
The sh17 has definatley hit the fan now...it has been 5 long years of so called recessions and double dips..and everyone knows its all been lies, lies, lies and more lies..the world economy...more specifically the western world...is finished.
Yes Greece and Cyprus are indeed the beta run, to see how much revolt the people have in them...we also had the riots all over England a year ago...where all the police stood aside...I knew then what was really happening.
Now this new brilliant idea of robbing the bank deposits...
its bound to start a run on the banks all over europe..It is so obvious.
Followed by riots...followed by...I really dont know what..because they have cut the police to the bone aswell in the UK..so I dont even think the police will stop major riots...like I said this has already been proven a year ago in the UK..the police had already been cut and gone on strikes before the riots.
I said at the time..you dont cut the police if your cutting everyone else...its common sense you dont put pay cuts on the police if you are kicking a hornets nest...
nobody could be that stupid..
so it looks like anarchy is whats planned..all out fvcking civil unrest and social collapse.
Murder in the streets...i can see it coming. All they need to do is shut down the ATM's and people will explode. Or have people been so brainwashed that they will just sit and starve to death?..it wouldn't surprise me either.

reply to post by Iwinder


you might be right, i was thinking too much in the problem regarding the inflation.
if the value of the dollar doesn't drop, then sure save your cash, else,

it's not the cash that we need to worry about but the tangible things which we need to invest in.

* precious metals
* tools
* livestock -staple food
* barter items

but that's IF inflation is the problem.

i'm not sure though i understand ........................

Originally posted by liejunkie01
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.

Capitalism in a *truely* free market (which we have never experienced on earth except perhaps in tribal days) - is not dictated by corporate greed, but rather CONSUMER greed or EMPLOYEE greed. Put another way - if all services were provided in a free market - no government, taxation, law, borders, patents, etc. It would be entirely up to the people as a whole to choose what kind of business thrived, and what kind failed. Of course I'm not saying this would ever work in practise.. I dont have that kind of faith in humanity.. But one must be careful to remember that the only reason corporate greed is allowed to dictate is because of artificial power structures accepted by everyday people , because theyve tricked us into thinking its the only way things would work.

Its back to old school banking for me....savings @ home in shoebox and payday cash check send money orders and use postal service....kinda makes me feel better anyways....

How does this not end except in blood running in the streets, people never trusting a bank ever again, and the burning down of every state and financial building in any given town?

If anyone takes 10% of my money, I'll find a way to take 10% of something they value, it's as simple as that.

Originally posted by superman2012

Originally posted by gunshooter

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?

Let me get this straight.
You are asking someone from England if they are taking a vacation on Thanksgiving? Thanksgiving? England celebrating an American holiday?

In the United States, the modern Thanksgiving holiday tradition is commonly, but not universally, traced to a poorly documented 1621 celebration at Plymouth in present-day Massachusetts. The 1621 Plymouth feast and thanksgiving was prompted by a good harvest. Pilgrims and Puritans who began emigrating from England in the 1620s and 1630s carried the tradition of Days of Fasting and Days of Thanksgiving with them to New England. Several days of Thanksgiving were held in early New England history that have been identified as the "First Thanksgiving", including Pilgrim holidays in Plymouth in 1621 and 1623, and a Puritan holiday in Boston in 1631

and to counter the rest of your ignorance;

A holiday in many parts of the world is a synonym for a vacation or a specific trip for the purpose of recreation or tourism, but in the United States of America, it is considered to be a day designated as having special significance for which individuals, a government, or a religious group have deemed that observance is warranted.

Obviously what I wrote went well over your head.
2

Imagine......the American colonists started a revolution in part over an excise tax on tea......what if King George had levied a "tax" on colonial bank deposits like this (taxation without representation)? What say did the Cypriot population have in this either collectively (referendum) or thru their elected representatives (legislature)?

Originally posted by gunshooter

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?

My god you're ignorant, and a little bitter. And who exactly would "us normal folk" be hmm? Let me guess, American

Wiki-

Vacation, in English-speaking North America, describes recreational travel, such as a short pleasure trip, or a journey abroad.
People in Commonwealth countries use the term holiday to describe absence from work as well as to describe a vacation or journey. Vacation can mean either staying home or going somewhere.
Canadians often use vacation and holiday interchangeably referring to a trip away from home or time off work. In Australia, holiday can refer to a vacation or a public holiday.

So out of 55 english speaking countries only two uses the word "vacation". Weird, I guess we must all be abnormal.

On topic- this situation seems to be getting out of control. What has the response in Cyprus been?

lets get this right Greece didn't accept any terms .. the agent provocateurs in parliament did

reply to post by elysiumfire

Under the currently agreed terms, depositors with less than 100,000 euros in Cyprus accounts would have to pay a one-time tax of 6.75%. Those with sums over that threshold would pay 9.9%.

what is completly horrifying is the fact that the government of cyprus has ordered an extra bank holiday (where the banks are closed) so that people cannot withdraw their own money!!

There has been footage shown on the news of people withdrawing as much money as they can from cash machines, but obviously there is a daily limit of what you can withdraw,.

madness, I always saw posts on ATS about the governments taking your money and thought, pish! of course they cant, but it looks like they can and will!!!

So the Sherif Of Nottingham is sending his troops out to steal grain and gold from his people....

Isn't this where Robin Hood shows up?

LOL "Your savings as seizable government reserve". Man that is funny for several reasons.

The truth is in regards to paper money and notes......they have always felt it was thiers anyway. They are permision slips to play in the system. They run the system. They print the notes, run the banks ect. And governments work with the banks and almost have to more that they do for the people.

Originally posted by McGinty
So the Sherif Of Nottingham is sending his troops out to steal grain and gold from his people....

Isn't this where Robin Hood shows up?

"Hay Bob, Sup had a strait job. Even thought he could have smashed into any bank in the united states. He had the strenght but he would not".

Originally posted by Logarock

Originally posted by McGinty
So the Sherif Of Nottingham is sending his troops out to steal grain and gold from his people....

Isn't this where Robin Hood shows up?

"Hay Bob, Sup had a strait job. Even thought he could have smashed into any bank in the united states. He had the strenght but he would not".

Superman never made any money saving the world from Solomon Grundy. Sometimes I declare the world will never see another man like him!