Cyprus has postponed the vote today until Monday on savings raid bailout
Very few things give me nightmares… Yesterday’s event in Cyprus was one of them and the media is conspicuously silent. What do you get when you combine worldwide Marxist elitists, bankers and the media? A worldwide depression and a new dark age. The IMF (in case you are wondering who they are) is using Greece as a proving ground for the rest of us. It is a fascist Petri dish. They just implemented an across the board tax on all bank accounts over a holiday with no warning and no recourse. 9.9% if you have over 100,000 Euros in the bank, 6.75% is you have less than that. This is money being seized by the IMF, the European Union and the government of Greece to attempt to cover some of their debt. It is theft and it could have been a lot worse. The IMF had proposed a 40% haircut on all accounts. This is how it went down::
Banks first cooperated with the EU by sealing off the amount of the proposed levy—a 6.75 percent tax on deposits under €100,000 and 9.9 percent on those above —making it impossible for depositors to access their full amount. The only means bank customers have left is the ability to draw from the rest of their funds via ATM machines this weekend. Many depositors made their way to the machines on Saturday to drain their accounts. But the few banks that opened on Saturdays did so only briefly, and no international transfers will be able to go through until Tuesday, with Monday being the holiday. Cyprus’ Parliament is expected to meet Sunday to pass the required legislation., or after the deed was done. The deal also needs the approval of several eurozone parliaments; at the time of writing it was unclear how fast they can act and what will happen to bank deposits in the meantime.
What’s happening in Cyprus should send a chill over the entire world.
Politicians working with complicit big banks need no rule of law; no parliament debates to close in on the bank accounts of average people.
Cash machines EMPTIED across Cyprus and 60,000 British savers face losing MILLIONS after £8.7bn EU bailout imposes tax of up to 10% on all bank accounts
- Lines formed at ATMs as people scrambled to pull their money out
- Word spread that rescue package included a one-off levy on deposits
- Restrictions stopping people emptying accounts or moving money abroad
- Up to 3,000 British service personnel are based on the bankrupt island
- President Nicos Anastasiades agreed to raid with European finance chiefs
- Said country in ‘state of emergency’ and not acting would be ‘catastrophic’
- But expats accused the island of ‘plain theft’ as violent protests sparked
- Britons have about £1.7b of deposits on island and could lose up to £170m
- Parliamentary official: Vote scheduled for today pushed back to tomorrow
- G. Osborne: This is what happens if you don’t show you can pay your way
Never let an emergency go to waste, eh? Cyprus’ President claims he had no choice. I don’t believe him. He made a deal with the devil, saved himself and gave up his own people. Very reminiscent of Nazi Germany. It’s fascist deja vu all over again. By the way, they did this before it was approved of by the legislature. Think it can’t happen in America? One day you could wake up and be staring down the same seizures and soon. And Martial law and jackbooted thugs will not be far behind, trust me.
Over a number of years, the Marxist elitists in Europe and the United States (make no mistake, Obama and the head of the IMF are BFFs) have put in place draconian financial policies, regulations and bailouts that have cost Trillions – in fact, more money than actually exists on the planet by no small measure. This is not money out of thin air, these are taxes. Taxes taken while promising growth and recovery that has never materialized, never will materialize and was never meant to materialize. This is a step in a global reset of all markets and a planetary redistribution of wealth that would have made Marx blush and stammer. Remember, the US is a huge contributor to the IMF. You don’t actually think that Obama didn’t know about this and had input, right?
What happened yesterday in Cyprus was a test for the rest of us. What’s more, what was implemented will not solve the problem. What it will do is perhaps start worldwide bank runs and create chaos and riots, a la Cloward and Piven. The global Socialists are making their move and beginning to bring an iron fist down on individuals, their freedoms and their money. This has the potential to make the crash of 2008 look like Spring break. The Marxists are not limiting themselves to bank accounts; they are now going after retirement accounts, gold and whatever else they can grab as the whole scam starts to implode. The run on the Cypriotic banks and ATMs yesterday was just a taste of what is heading our way. The Deutsche Bank global head of FX strategy, Bilal Hafeez, was correct – only Jesus can save the EU now. However, I think He is more likely to speed their demise with all the money changing in His temple occurring and all.
Restrictions have been imposed to stop people emptying their accounts or moving their money out the country after the Cypriot government announced that up to ten per cent of deposits will be seized and used to bailout the island’s crisis-hit banking system.
The deal with other eurozone finance ministers is the first time that ordinary citizens’ deposits have been directly raided in this way.
One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’
Under the deal, all bank deposits over €100,000 will be hit with a levy of 9.9 per cent. Those with smaller savings will pay 6.75 per cent.
The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.
‘Why would you risk putting your money in Greek, Spanish or Portuguese banks after this?’
British expats were stunned by the news, with many left high and dry by the restrictions on accounts.
Cash machines had been working, but many ran out of notes because of the panic withdrawals.
But financial experts said the raid – designed to stop Cyprus crashing out of the euro, potentially destroying the currency – would send shock waves through the eurozone.
If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the banks.
Source: Daily Mail
In case you weren’t aware, Cyprus is a hub of offshore accounts. One of the biggest hurt by this move were Russian mobsters. But before you justify that, remember, people all over the world had their funds there. It all depends on how you define taxation:
As Market Ticker’s Karl Denninger notes, “Like hell that’s a tax. That’s direct confiscation of the funds of people who did nothing wrong!”
People need to wake up and fast because this train is coming to each of us and soon. There is no safe haven on the planet for money or investments now. The New World Order has arrived and it is hungry. A planetary government of elites who have colluded to strip the wealth from nations has descended to rip the fabric of civility apart and we are all on the menu.
I can’t put it any better than Mac Salvo:
It should now be obvious. There is no recovery. There never was.
No matter where you live, your government is likely preparing measures to deal with the coming financial and economic collapse. This means they are going to be coming for anything of value that they can get their hands on.
If you have the majority of your net worth allocated in bank accounts, money market funds, retirement plans, stock markets or the host of other ‘safe’ assets recommended by your financial adviser, then you are playing Russian roulette.
And in this version there’s a bullet in every chamber.
When they come, they will take everything they can.
You didn’t think all that ammo, arms, food and medicine was for a rainy day, did you? Well, if so, it is pouring. Our Marxist leaders have made preps for themselves, the rest of us be damned and we have just let them do it. Shame on us.
I’ll close with the prescience of Nigel Farage. Pity no one listened to him on this:
Terresa Monroe-Hamilton is a Libertarian and she blogs at NoisyRoom.net. NoisyRoom is a Conservative blog that focuses on political and national issues of interest to the American public.