Straight Up Robbery
Obama wants to be "...more like Europe." Can't wait to see what happens this week across the pond:
- Shocked and angry residents of Cyprus on Saturday morning rushed to their banks and ATMs to withdraw their savings, but it was too late. The ones who had been lucky enough or smart enough or frightened enough to have withdrawn their money earlier in the week lost nothing, but the ones who believed the Cypriot and European politicians who said that all bank deposits are safe were screwed.
In the wee hours of the night, the Eurogroup of eurozone finance ministers agreed to bail out Cyprus, after a year of negotiations. Cyprus needed a 17 billion euro bailout loan for its banking system, but the Eurogroup was only willing to come up with about 10 billion euros, so the difference had to be made up by penalizing depositors: 9.9% on deposits above 100,000 euros, and 6.75% on smaller deposits
It's a good thing we've been keep all of our cash under the mattress and converting everything we can to precious metals.
Might be some bank runs overseas today. Might be more "instability" here at home.
Might be some bank runs overseas today. Might be more "instability" here at home.
Labels: international news
posted by SCC at 12:01 AM
56 Comments:
It's not yours unless you can touch it.
Is it in your safe?
In the USA most people have little in savings.
The target would be 401k...etc.
Forced bond purchase in the name of the children. .
Wish you had more ammo yet ?
And for anyone who thinks there's no way this could happen here, I present you this:
U.S. to let spy agencies scour Americans' finances>
http://www.reuters.com/article/2013/03/13/usa-banks-spying-idINDEE92C0EH20130313
WHOOOOOO!
You can bet your ass it'll happen HERE!
No WONDER Sparkle-Farts et al and Rahm & Co. are trying to disarm everybody except The Catered to Constituents!
What happened in Cyprus was straight-up fuckery...
Oh boy, rumors across the social media that bank tellers are telling their customers they believe this is a test case and should they be able to pull it off the rest of the EU is next one by one.
Meanwhile in the Asian market Japan (Nikkei dwn -325) and China (HangSeng dwn - 476) indexes are down 2~2.5% and the Euro dollar on the forex has lost .02 against the dollar.
The real test is when Euro trading begins in abt an hour.
also...
S&P warns of socially explosive situation in euro zone
(Reuters) - Standard and Poor's sees a high risk that Spain, Italy, Portugal and France will not be able to carry through necessary reforms as the unemployed become less willing to put up with austerity, S&P's Germany head Torsten Hinrichs told a newspaper.
Gee whiz eh?
Maybe everyone will run to the safety of bonds forcing the interest rates down on the bonds so that it won't cost the bond sellers too much to borrow their money..
What a coincidence that Illinois has an $800 million dollar bond sale set for April 2
Not one single banker in cuffs for creating this and the US DOJ cowers with scissors and ball point pens in hand I guess -- behind their desks fearing the bankers.
The citizens just may take matters into their own hands soon and no-one wants that.
The total lost of confidence in the system will be a nightmare imo.
Jaimi Diamond's head is spinning at the news - will this bankng fiasco finally spill into the US. Shades of 1981.
My share account at CPCU is earning 0.13% - this is BS
No wonder these very same politicians in Washington and Illinois want to ban assault weapons. Next the way their spending our tax dollars and stealing our pensions the bank accounts will be next and with the rifle ban you will just take it up the Keester and like it!
With all the out of control monetart policies, deficit spending, most countries in the world including the US are headed for disaster. Short term and long term solution is buy gold, GLD ticker symbol. Fuck deffered comp. Ive been putting the equivalent i would of put in defferred comp in gold since 2008. Best thing Ive ever done. The drawback is having to be double taxed, but the gains make up for that. Remember that 1st quarter 2009 deferred comp statement, it will happen again.
Those politicians in charge should be charged and then shot for thievery!
Our fate is clearer if you understand the EU is The New Deal at bayonet point.
Note it's the worst of dictatorship and democracy. Dictates for the good of the regime only are thrown out by the people against the common interest.
The equivalent here is the Guaranteed Retirement Account - which is where the government nationalizes the 401K.
Why bail out these countries which cannot manage their money? How long before this country is in the same boat? But with that, there's nobody to bail us out.
If a man came up to you on the street and attempt ed to forceably separate you from your property you would most likely resist, with violence, if necessary.
Check out the Dollar Vigilante blog.
Lots of info on gold,Euro,rtc.
This is just the beginning. A revolution is coming. Do you think we can sustain the spending habits of the socialists and their big government plans? When this starts happening here, there's going to be war.
But you just keep your money in the bank making 1%. The government says it's safe. You can trust them. They know what's best for you.
yea does anyone remember about six months back when they were proposing to tax every time you made a deposit or withdrawel from you bank account. so everytime you got a check direct deposited, boom like a dollar was taken out fo your account. this type of thing may not be far off here in the good ole us of a
How many people even know what the Wiemar Republic was?
Inflation may be a much bigger threat.
What a brilliant new way to tax 'the rich' without actually 'raising taxes' - This scheme will definitely not go unnoticed by the bumercrats in Washington.
Unless you have that gold in your hands, what good is it? Do you think they have gold sitting somewhere with your name on it?
And if you do have possession of gold, what are you going to do when you want to buy something, pull out a knife and shave a little off to pay for your purchase at the store?
During the depression the government made it illegal to own gold and silver. F.D.R. (Democrat) issued Executive Order 6102 forbidding possession of gold and silver except for small quantities, 5 troy ounces. Most people being patriotic, willingly turned in their gold with the government giving the owners compensation at the official rate.
If things get that bad again, there probably will not be any stores to buy things at, and gold won't matter anyway. There will be pandemonium in the streets, then you may wish you had invested in lead.
My share account at CPCU is earning 0.13% - this is BS
But they were nice enough to offer an 11% loan for po's who needed to upgrade their uniforms and purchase addition equipment for the NATO Summit LOL
Gold,silver and bullets.
Maybe everyone will run to the safety of bonds forcing the interest rates down on the bonds so that it won't cost the bond sellers too much to borrow their money..
Not sure if thats a good idea. With interest rates at almost zero, they can only go up and when they do, bond prices go down and you lose principal
That could NEVER happen here. Go back to sleep.
if your on Twitter check out #Cyprus
I don't like Europe. It smells funny over there.
Now, Kees me you fool!!!!
Cyprus "Bank Holiday" Gets Another Extension, Bank Reopening Now Set For Thursday
http://www.zerohedge.com/news/2013-03-18/cyprus-bank-holiday-gets-another-extension-bank-reopening-now-set-thursday
News flash: when you put money in a bank, you're making a loan. If the bank makes bad decisions, you lose your money. Your government might have a program that promises to pay you if the bank goes under, in exchange for requiring the bank to not take big risks. If the banks start attracting huge sums of Russian mafia money for laundering, the banks might get really big and, combined with bad decisions, go bankrupt. If the banks weren't regulated well and grew so big that the government can't keep its promise to pay depositors when the banks fail, your neighbors in other countries might be willing to lend you the money. But they won't do it for free. Still, instead of losing 100% of your money, you lose 10%.
Really?! All of a sudden Americans are equating The U.S. to Cyprus. How many of you can point out Cyprus on a map? Get real!
Greece has been a fucking mess for the past 4 years or so...they refuse to deal with their monetary issues, so it's come down to that.
Anonymous said...
With all the out of control monetart policies, deficit spending, most countries in the world including the US are headed for disaster. Short term and long term solution is buy gold, GLD ticker symbol. Fuck deffered comp. Ive been putting the equivalent i would of put in defferred comp in gold since 2008. Best thing Ive ever done. The drawback is having to be double taxed, but the gains make up for that. Remember that 1st quarter 2009 deferred comp statement, it will happen again.
3/18/2013 04:03:00 AM
dont forget silver too
In 6 months your precious metals will be worthless.
I would not lose any sleep over this. Most Cypriots save their money in other countries. Most of the bank accounts in Cyprus is Russian mob money being laundered. This is why it was an easy decision to take this approach-it's dirty money, not the voter's money.
This is why they are testing drones in N.Y. so that they can get a pulse of what is happening when this happens here.
Who is profiting. Yeah these countries had bad spending habits. But who is profiting. A handful of wealthy families will keep getting wealthy even when they have to use their politicians to steal it from your account.
There will come a time in the not-to-distant future when the dollar collapses. When this happens, Martial Law will probably occur, to control all the rioting and chaos. The grocery stores will often be empty.
You cannot eat gold and silver, so stock up on some freeze-dried food - you can Google to find some good companies. check out www.thereadystore.com to see what the basic prices are for #10cans of various food items.
You can also go to Costco and just stock up on canned food, but you can only buy so much, because you have to eat it and rotate it as it doesn't last as long as the freeze-dried. If you are not prepared, be ready to stand in line with thousands of others for the crumbs that FEMA will hand out when the time comes. The Mormons have been practicing emergency food storage for over 100 years - not a bad idea.
News flash: when you put money in a bank, you're making a loan. If the bank makes bad decisions, you lose your money. Your government might have a program that promises to pay you if the bank goes under, in exchange for requiring the bank to not take big risks. If the banks start attracting huge sums of Russian mafia money for laundering, the banks might get really big and, combined with bad decisions, go bankrupt. If the banks weren't regulated well and grew so big that the government can't keep its promise to pay depositors when the banks fail, your neighbors in other countries might be willing to lend you the money. But they won't do it for free. Still, instead of losing 100% of your money, you lose 10%.
This has nothing to do with the banks losing money. It has to do with the Greece deficit, to many entitlements, not enough tax revenues, so the money has to come from somewhere. Taxes or in this case a levy or tax on money in the bank.
A little lesson in history. Prior to John Kennedy you did not pay taxes on interest earned on money in the bank
The other problem is that the US uses the gold standard and can print money or US currency as the deficit gets larger. Greece is in the Europeon Union which is made up of numerous european countries and controls the amount of euro dollars printed and will not allow Greece to print anymore money. Thats the problem, not the banks
News flash: when you put money in a bank, you're making a loan. If the bank makes bad decisions, you lose your money. Your government might have a program that promises to pay you if the bank goes under, in exchange for requiring the bank to not take big risks. If the banks start attracting huge sums of Russian mafia money for laundering, the banks might get really big and, combined with bad decisions, go bankrupt
What are you talking about? Banks aren't going bankrupt, the government is taxing the money you have in the banks. The government needs new revenue, has nothing to do with the banks
yea does anyone remember about six months back when they were proposing to tax every time you made a deposit or withdrawel from you bank account. so everytime you got a check direct deposited, boom like a dollar was taken out fo your account. this type of thing may not be far off here in the good ole us of a
Does anybody remember the 60's before JFK No taxes on interest earned in the bank. Not sure, but prior to this maybe they didnt tax interest in money in Greece banks. Thats might be why there is so much Russian money in the ban ks there
Why bail out these countries which cannot manage their money? How long before this country is in the same boat? But with that, there's nobody to bail us out.
Russia has already offered to bail them out. In return, Russia will get exclusive rights to the natural gas in the country. Cypress has the natural gas but is backward and doesnt explore and drill for it. Already Russia has the most natural gas in europe and this would make them close to a monopoly
Guns, bullets and packaged/canned foods will be the only commodities worth trade or barter...
Precious metals will mean nothing until 200 to 500 years later when mankind climbs out of the mud again.
Your precious metals might be pretty and shiny enough to get you a hurried, anonymous, one pant-leg still on quickie in the back seat of a burn-out on the side of the road...
Anonymous said...
Really?! All of a sudden Americans are equating The U.S. to Cyprus. How many of you can point out Cyprus on a map? Get real!
3/18/2013 12:25:00 PM
Most Americans couldn't find the United States on a map.
I would stay away from GLD.
Buy the metal.
Have it in hand.
If you must buy paper gold buy AGOL or SGOL. AGOL is in Singapore. AGOL does not play with the deposits.
SGOL is swiss.
GLD/SLV are JPMC/HSBC and held in London. All that may exist is that paper. Do investigate "re-hypothecation" or taking other peoples assets and using them for collateral for your trading.
That's what Corzine did. And he did it in London, because there are no limits in the UK on such activities. In the US there are.
IOW the LBMA and the COMEX in London may well be whored out and empty.
JPMC is the trustee for GLD/SLV. I got out of them years ago.
Really?! All of a sudden Americans are equating The U.S. to Cyprus. How many of you can point out Cyprus on a map? Get real!
3/18/2013 12:25:00 PM
food, water, shelter, weapons.
the foundation of civilization.
If you don`t think that liberals aren`t considering a takeover of our IRAs and 401k`s just google "Guaranteed Retirement Accounts" by liberal economist Teresa Ghilarducci.
Back in 2007 and 2008 when the Dems controlled the House of Representatives this commie TWICE spoke to the Dems in congress about her plan to have the Social Security Admin. take over our retirement accounts. We have trillions in retirement accounts in this country and these crooks in DC would love to get their dirty paws on them.
I don't like Europe. It smells funny over there.
Now, Kees me you fool!!!!
3/18/2013 10:43:00 AM
watch the movie:
"Perfume: The Story of a Murderer" (2006)
First, courtesy of Reuters, we get a detailed narrative of what happened before this Saturday's announcement of a deposit levy, where we learn that the deposit confiscation was initially Joerg Asmussen's idea, and we also learn that Atanasiades stormed out in anger when he learned what was about to happen.
...
Anastasiades stormed out of the meeting in anger. He returned only when senior negotiators told him that if he left, Cyprus would have to default and shut its banks altogether.
I bet we hear this about America one day
I would not touch GLD or SLV...those are ETF's...buy the real deal and like was said before...you don't own it if you don't hold it..
It is spreading.... Italy is next.
Joerg Kraemer, chief economist of the German Commerzbank, has called for private savings accounts in Italy to be similarly plundered. “A tax rate of 15 percent on financial assets would probably be enough to push the Italian government debt to below the critical level of 100 percent of gross domestic product,” he told Handelsblatt.
Forget the gold/silver you need food/water/shelter.If this happens stores are not going to be open or gas stations the DOLLAR is tanking.
What are you talking about? Banks aren't going bankrupt, the government is taxing the money you have in the banks. The government needs new revenue, has nothing to do with the banks
3/18/2013 05:57:00 PM
another economics major without a clue.
But you just keep your money in the bank making 1%. The government says it's safe. You can trust them. They know what's best for you.
3/18/2013 09:13:00 AM
You must have a big mattress.
3/18/2013 05:25:00 PM
rice, dried beans, flours, sugar, cooking oils, dried spices, dried fruits and berries, shelled and unshelled nuts, etc.
plus, sink that deep well in your back yard, or basement.
a wood burning stove strategically placed, also in your basement, with a stainless steel chimney liner.
a well stocked ammo chest.
food, water, shelter, weapons.
hopefully, your family likes you, as well as loving you. this helps in maintaining cordial conversations.
enjoy the Apocalypse.
i know i will.
Chalkie
"You can also go to Costco and just stock up on canned food, but you can only buy so much, because you have to eat it and rotate it as it doesn't last as long as the freeze-dried."
3/18/2013 05:25:00 PM
*Avoid the pull-ring "easy-open" cans for storage purposes. They tend to rot through/leak at the sharp groove in just a couple of years. Try to get regular old cans that need an opener.
* Your best friend is a permanent Magic Marker, a Sharpie pen. DATE EACH PACKAGE, say "3/2013," as you buy it, and eat the oldest first.
Been doing this for decades...
Not robbery; a bailout In exchange for 10%, depositors receive the remaining 90%. Without the bailout they'd be lucky to receive 5% of their depsoit(s).
I'm investing heavily in metals. Brass, lead and copper. I've also diversified my portfolio by investing in chemicals such as sulfur, potassium nitrate and charcoal.
Now that's what I call a balanced investment plan.
Russia just offered 3.25 billion bailout of Cypress in exchange for their oil and natural gas rights
Post a Comment
<< Home