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Thread: The First Bite: Cyprus

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    Re: The First Bite: Cyprus

    Obama will act to steal from sophisticated Americans before they have a chance to react to the danger he represents. Now is the time to protect yourself from your president.

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    Re: The First Bite: Cyprus

    Quote Originally Posted by Infinite Chaos View Post
    You know Pete, it's sad when your own phrase comes and bites you in the ass, British military personnel and civil servants based in Cyprus and working for the British Govt are being compensated for losses in Cyprus. Anyone with money in a Cypriot bank outside Cyprus is not liable to the 10% theft. People working for the British Govt in Cyprus are not there because they want a higher rate of interest, they are there working for Britain. They are based there because they have been sent or stationed there - and it's not always possible to keep or access your money in a UK Bank or building society when stationed overseas so you sometimes have to have a local account.
    That is utter bull****. Barclay's has branches there as do other British banks. No one forced this military personnel to put their money in local banks. They did it because they would get higher interest rates. Why do you think that Cyprus was/is the main money laundering place of the Russian mafia?

    You are in Spain because of private choice - I doubt you have ever worked for your Govt in an overseas location, I have and sometimes out of necessity you have to have a local account. It's nothing to do with greed.
    I agree, it is not always that there are British banks and then you are forced to deal with local banks. But in this case there are British banks. Barcley and RBS both have branches there, that specifically target the British expat and military communities.
    PeteEU

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    Re: The First Bite: Cyprus

    Quote Originally Posted by CalGun View Post
    Banks again huh, evil rich guys, shame on them for continuing to try and prop up the socialist that will never have enough to provide for all the votes they need to buy.
    Fact is.. it is the banks that are the problem. The bailout is going to prop up the banks on Cyprus, not fund the government.
    PeteEU

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    Re: The First Bite: Cyprus

    No the fact is the banks need a bail out because they were required to loan to countries that over spend and don't tax - when will you ever wake up?


    Quote Originally Posted by PeteEU View Post
    Fact is.. it is the banks that are the problem. The bailout is going to prop up the banks on Cyprus, not fund the government.

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    Re: The First Bite: Cyprus

    Quote Originally Posted by Lutherf View Post
    I understand that.

    Like I said, it's just another tax to cover the failings of the government to control spending. The only difference is that in this case it's more overt than filling out a return and mailing in a check....and more efficient. It's just a sign of things to come if we keep on going the way we are going. If people can't seem to wean themselves from massive government then this is pretty much what we all can expect in the not too distant future.

    I haven't bothered to get into it but right now these governments (including ours) are doing things like this "for our benefit" but the next step will inevitably be for them to start doing it for their benefit because the mentality of such massive "nanny states" is that they must first preserve themselves so that they can "save" the citizens.
    Well for some people, it wasn't there fault at all, speaking of the foreign nationals.
    They lived outside the country for most of the time they had earnings.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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    Re: The First Bite: Cyprus

    Quote Originally Posted by PeteEU View Post
    That is utter bull****. Barclay's has branches there as do other British banks. No one forced this military personnel to put their money in local banks. They did it because they would get higher interest rates.
    So you absolutely can only have an account with Barclays or RBS if you're a Brit and you want to go to work in Cyprus, if you have an account with Lloyds or Nationwide or Santander or any of the Building Societies in the UK, you can't go to Cyprus because you're only (in Pete's world) allowed to have an account with one of the 2 or 3 British Banks there?

    Have you any idea of the pressure banks put customers under to transfer accounts here in the UK? If I am a building society banker in the UK and open an account in another country with Barclays in Cyprus I am guaranteed lots of pressure and hard selling to transfer my account to Barclays here in the UK.

    Your argument falls at the first hurdle yet again Pete. Many British customers won't bank with Barclays and RBS. I personally bank with Barclays but I would never bank with Lloyds so if it was Lloyds and RBS for me as a soldier - I would open a local bank account.

    Quote Originally Posted by PeteEU View Post
    -- Why do you think that Cyprus was/is the main money laundering place of the Russian mafia?
    What's Cyprus got to do with British Banks and UK soldiers and government personell??

    Quote Originally Posted by PeteEU View Post
    I agree, it is not always that there are British banks and then you are forced to deal with local banks. But in this case there are British banks. Barcley and RBS both have branches there, that specifically target the British expat and military communities.
    [/sigh] See above.

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    Re: The First Bite: Cyprus

    Quote Originally Posted by CalGun View Post
    No the fact is the banks need a bail out because they were required to loan to countries that over spend and don't tax - when will you ever wake up?
    Who the hell required them to loan to countries like Greece? NO ONE! Stop blaming government and people in general for the failures of the banking sector.
    PeteEU

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    Re: The First Bite: Cyprus

    Quote Originally Posted by Infinite Chaos View Post
    So you absolutely can only have an account with Barclays or RBS if you're a Brit and you want to go to work in Cyprus, if you have an account with Lloyds or Nationwide or Santander or any of the Building Societies in the UK, you can't go to Cyprus because you're only (in Pete's world) allowed to have an account with one of the 2 or 3 British Banks there?
    Now you are just being childish because you know you lost the argument. Face, the British forces do not HAVE to have a bank account in a Cyprus bank... they chose to get them.

    Have you any idea of the pressure banks put customers under to transfer accounts here in the UK? If I am a building society banker in the UK and open an account in another country with Barclays in Cyprus I am guaranteed lots of pressure and hard selling to transfer my account to Barclays here in the UK.
    And that is somehow now my problem that your banking regulation is pathetic? All I am stating is, that the British forces on Cyprus who had bank accounts in Cyprus banks, chose to do so.

    Your argument falls at the first hurdle yet again Pete. Many British customers won't bank with Barclays and RBS. I personally bank with Barclays but I would never bank with Lloyds so if it was Lloyds and RBS for me as a soldier - I would open a local bank account.
    Again... your chose... hence your risk.

    What's Cyprus got to do with British Banks and UK soldiers and government personell??
    You are the one who brought it up I believe in conjunction with the British government bailing out their own.
    PeteEU

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    Re: The First Bite: Cyprus

    Quote Originally Posted by PeteEU View Post
    Now you are just being childish because you know you lost the argument. Face, the British forces do not HAVE to have a bank account in a Cyprus bank... they chose to get them.
    No, you tried to argue that Brits should have British bank accounts. You also stated that there are two British banks in Cyprus. I explained that not all Brits like to bank with "proper" British banks and that reasons for having a local account may be more than just a 2% rate of interest.

    Quote Originally Posted by PeteEU View Post
    And that is somehow now my problem that your banking regulation is pathetic? All I am stating is, that the British forces on Cyprus who had bank accounts in Cyprus banks, chose to do so.
    Again - if the choice is a local bank and a British bank you may not already bank with... I see no reason why you're heading down a chauvinist route about British banks.

    Quote Originally Posted by PeteEU View Post
    Again... your chose... hence your risk.
    You've never (like I said originally) worked for your government in a foreign country. I have and there are reasons way beyond simple interest rates why you have a local bank account. Sometimes the the foreign office advice is exactly that - have a local bank account.

    I really don't expect you to get it - you're speaking from complete ignorance and chauvinism.

    Quote Originally Posted by PeteEU View Post
    -- You are the one who brought it up I believe in conjunction with the British government bailing out their own.
    My bad - I meant to ask "what's Russian Mafia" got to do with what I was posting?

  10. #40
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    Re: The First Bite: Cyprus

    Quote Originally Posted by Infinite Chaos View Post
    No, you tried to argue that Brits should have British bank accounts. You also stated that there are two British banks in Cyprus. I explained that not all Brits like to bank with "proper" British banks and that reasons for having a local account may be more than just a 2% rate of interest.
    No I did not. I said they COULD have British bank accounts... big freaking difference.

    Again - if the choice is a local bank and a British bank you may not already bank with... I see no reason why you're heading down a chauvinist route about British banks.
    Come on.. all I have pointed out is the problem with the British government bailing out its citizens due to these citizens putting their money in a foreign bank, when they COULD have put it in a British bank and not been subject to this theft. What will the UK government do if it happened in France, Spain or Italy.. where there are hundreds of thousands of Brits with bank accounts in local banks? And why only military personnel? It is one hell of a can of worms that Cameron has opened up but I suspect he is too stupid to realize what he has done.

    You've never (like I said originally) worked for your government in a foreign country. I have and there are reasons way beyond simple interest rates why you have a local bank account. Sometimes the the foreign office advice is exactly that - have a local bank account.
    I have worked and lived overseas most of my life. I CHOSE to use local banks and I CHOOSE to use local banks in Spain, despite the 3 big Danish banks (including my Danish bank) having branches here. What dont you get with the idea that it is my choice, just as it is the choice of British military personnel in Cyprus to use local banks rather than British banks. And hence if my Spanish bank goes down, then it is my own fault because I made that choice of using it... should I expect a bailout by the Danish government for my choice?

    So back to my point.. is it not a very dangerous precedent to start bailing out British citizens in other countries because they chose to put their money in local banks?

    I really don't expect you to get it - you're speaking from complete ignorance and chauvinism.
    You seem to be blinded by some kind of rage and nationalistic pride or something and cant see the tree from the forest of hatred towards me and anyone who mentions the word British in a remotely negative nature.

    My bad - I meant to ask "what's Russian Mafia" got to do with what I was posting?
    Ahh well you see Cyprus has been for a long time accused of being the money laundering capital of Europe. Did you know that something like 60% to 80% of the money on bank accounts in Cyprus is actually held by Russian nationals? Russians have been using Cyprus as a place to move their money overseas.. and most of that money is gotten by illegal ways... corruption, drug running and so on. The EU has been pissed about it for a while, but have not been able to do anything about it without pissing off the Russians royally... but now it seems they saw their opening. Russia has tens of billions invested on the island and in Cyprus banks.. and all that is now under threat. That is also why they are moving to change the deal so that those under 100k pay less... where as those over 100k pay much more.. Guess who has over 100k and guess who has under 100k?
    PeteEU

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