Record Bank Heist In Cyprus Spells An End Game For Your Wealth,could it happen here?

[jeff of pa]

[FONT=Arial, Verdana, Helvetica, sans-serif]The emergency bank holiday in Cyprus has been extended through Tuesday and Wednesday in what as far as the team at Dollar Vigilante has researched, will be the longest emergency bank holiday in Europe or North America since the Second World War.[/FONT]
[FONT=Arial, Verdana, Helvetica, sans-serif]Marking the first time during the five-year-old global credit crunch, depositors may be forced to pay upfront for their nation's bailout. European finance ministers are reaching into Cypriot savings accounts to backstop a 13 billion euro bailout for Cyprus. The decision was made public early Saturday morning, shortly after which Cyprus banks closed to slow down withdrawals.

[/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]And then, news hit Monday that the bank holiday has been extended till Thursday.

[/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]Accounts are locked. Money can't be withdrawn or transferred to safer locations. Under the central banking system, the money you put in the bank isn't really yours. As The End Of The Monetary System As We Know It (TEOTMSAWKI) continues, governments aren't even trying to maintain that illusion anymore. Why try? After all, their propaganda isn't working anymore thanks to the Internet. So, might as well step up the heist. This is a game of chicken, and the EU and big banks have stepped on the gas.
[/FONT]
[FONT=Arial, Verdana, Helvetica, sans-serif]Germany, EU officials along with Anglo-American banks engineered this weekend’s wealth reallocation via Cyprus banks. These technocrats have had close allies in Washington and London since World War II. They knew that problems were going to crop up eventually in Cyprus, so why did they decide on what Forbes calls “the single most inexplicably irresponsible decision in banking supervision in the advanced world since the 1930s?” Well, no matter how "inexplicably irresponsible" this decision has been, something tells me things are going exactly as planned in Cyprus right now. The White House has already given its support for the theft:[/FONT][FONT=Arial, Verdana, Helvetica, sans-serif]But make no mistake about it; the Cypriot parliament has been called in order to ratify the robbery of depositors, just like what happened during the TARP bailout in the US. Remember when Hank Paulson threated martial law if banks didn't get nearly one trillion dollars of initial liquidity injection? This is the same sort of situation.[/FONT]

Record Bank Heist In Cyprus Spells An End Game For Your Wealth

 

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[bingbong]

they are trying every trick in the book to prop up the Euro ,like flogging a dead horse and now they crossed the line ,so nobody will trust them again ,and keep their money under the floorboards or under the bed ,anywhere but in a bank .
the Russian are outraged at being robbed as they lost the most .
this will ensure the global slump drags on for another decade ,as no way to get out of the slump ..

 

[jeff of pa]

yes how do the banks ever gain back confidence ?

going to take a very long time.

are they going to make a law saying your money must be kept in banks ?

 

[Red James Cash]

yes how do the banks ever gain back confidence ?

going to take a very long time.

are they going to make a law saying your money must be kept in banks ?

They may use it as an excuse to switch to a non monetary system.

 

[bingbong]

March 19, 2013, 11:38 am 43 Comments
Shorter Cyprus

So, a quick summary: The Germans don’t want a Cyprus collapse / exit from the euro, but they also don’t want the spectacle of German taxpayers bailing out Russian money-launderers. So what they did instead was blackmail Cyprus into having Cypriot depositors bail out Russian money-launderers. That way Germany’s hands are clean.
Am I missing something?
Also, pretty awesomely straight talk from Athanasios Orphanides.

http://krugman.blogs.nytimes.com/2013/03/19/shorter-cyprus/

 

[bingbong]

LONDON, March 19 | Tue Mar 19, 2013 4:35pm GMT

(Reuters) - European shares fell for a second day on Tuesday, with investors spooked by the possibility that Cyprus could reject a bailout, likely leading to bank collapses and unpredictable fallout for the rest of the euro zone.
Cyprus parliament was widely expected to reject the 10 billion euro ($12.96 billion) rescue package - which, in a break with previous EU practice, includes a levy on bank accounts - at a vote on Tuesday.
With the Cyprus stock exchange closed, Greece was the worst hit of the regional bourses, shedding 3.9 percent.

 

[Frankn]

They voted against it today. frank...

 

[Mackaydon]

Russian would have been hurt the most, they have 1/3 of all bank deposits in Cyprus--yet they were not consulted before this move. Russia was also their #1 financial supporter in the last financial crisis. Kinda doubt they'll be quick to assist in the future.
Don.....

 

[jeff of pa]

NICOSIA, Cyprus (AP) — The head of Cyprus' influential Orthodox church, Archbishop Chrysostomos II, says he will put the church's assets at the country's disposal to help pull it out of a financial crisis, after lawmakers rejected a plan to seize up to 10 percent of people's bank deposits to secure an international bailout.
Speaking after meeting President Nicos Anastasiades Wednesday, Chrysostomos said the church was willing to mortgage its assets to invest in government bonds.


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