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The First Bite: Cyprus

She said a lot of elderly Britons had transferred savings to the island when they had decided to retire there. "Nobody can understand how they can do this – isn't it illegal? How can they just dock money from your account?" she asked.
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"They call Sicily the island of the mafia. It's not Sicily, it's Cyprus. This is theft, pure and simple," said a pensioner.
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Silly subjects. You traded what was "yours" for the safety and security of a munificent state who would care for all your needs and now you have the gall to think that it was "your" money?
 
I thought this was just.....wonderful. *sarcasm included*

Another brilliant idea our government didn't need.
 
It's been suggested here too, but on retirement accounts. I think that is why the fed has been artificially inflating the stock market. Make it look like it's takeover ng off and get more people in to it before he "one time" hit.
 
gunner said:
It actually amounts to theft, as some are suggesting. Some UK service personnel have also been targeted.

Paul
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I agree.
The story seems to indicate that it targets non Eurozone foreign nationals (Russians in this case).
Kinda reminds me of Argentina doing their currency manipulation.

To me, it certainly bolsters the idea of putting some money in Bitcoins or other forms of currency not controlled by states.
 
1. austerity is failing all over the place. all aboard the failboat.

2. they weren't even intelligent enough to enact the tax on whatever amount was in the account at the time of the passing of the bill? i mean, ****, if you're going to do something as dog**** dumb as a ten percent tax on the savings of the poor, can't you at least predict a run on the banks? ****.
 
Helix said:
1. austerity is failing all over the place. all aboard the failboat.

2. they weren't even intelligent enough to enact the tax on whatever amount was in the account at the time of the passing of the bill? i mean, ****, if you're going to do something as dog**** dumb as a ten percent tax on the savings of the poor, can't you at least predict a run on the banks? ****.
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The story seems to indicate that atms have stopped giving out money and there will be a bank holiday.
It's not a tax on the poor, it's taking money from everyone, even foreign nationals.
 
CalGun said:
Cyprus: panic as savings levy is imposed | World news | guardian.co.uk

Cyprus like many europeans just spends willy nilly almost as bad as America.
So the people wake up to find their savings accounts garnished. Yeah - they can do
that.

Wake up people. Keep over spending, keep taxing too little and you end up with
panic.
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Lemme get this straight. In another thread, you're all upset about this letter your wife got about Social Security and the sequester. But Cyprus should stop spending.
 
My points are clear. I'm in favor of the "sequestation" in the other thread I point out the stupidity of this regime in America that thinks they can bully the public into giving them the money back by cutting services. Why does a service get cut when the budget is reduced 2% - that is politics - that is my point. The kid who was on Foxy News was making the same point but idiots from the left want to make it about Foxy News because idiots on the left don't like to address real issues like their failed leadership. We need more taxes and LESS spending to prevent us from ending up like these people in Cyprus.


rocket88 said:
Lemme get this straight. In another thread, you're all upset about this letter your wife got about Social Security and the sequester. But Cyprus should stop spending.
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CalGun said:
My points are clear. I'm in favor of the "sequestation" in the other thread I point out the stupidity of this regime in America that thinks they can bully the public into giving them the money back by cutting services. Why does a service get cut when the budget is reduced 2% - that is politics - that is my point. The kid who was on Foxy News was making the same point but idiots from the left want to make it about Foxy News because idiots on the left don't like to address real issues like their failed leadership. We need more taxes and LESS spending to prevent us from ending up like these people in Cyprus.
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The other thread is in the media bias forum, so I put to you that talking about the media there is 100% appropriate.

I agree with you about needing more taxes and less spending.
 
CalGun said:
Cyprus: panic as savings levy is imposed | World news | guardian.co.uk

Cyprus like many europeans just spends willy nilly almost as bad as America.
So the people wake up to find their savings accounts garnished. Yeah - they can do
that.

Wake up people. Keep over spending, keep taxing too little and you end up with
panic.
Click to expand...

And if you even remotely read up on the subject then you would know that what you wrote about Cyprus is utter bull****. Cyprus is in trouble because the private banks who lent money to Greece. Yet again the private banking system is the cause not "overspending".
 
gunner said:
It actually amounts to theft, as some are suggesting. Some UK service personnel have also been targeted.

Paul
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It is theft and pisses me off royally. Another right wing banking bailout and the common man has to suffer for the follies of the private banking sector.. pathetic.
 
Harry Guerrilla said:
The story seems to indicate that atms have stopped giving out money and there will be a bank holiday.
It's not a tax on the poor, it's taking money from everyone, even foreign nationals.
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The ATMs have run out of money, hence they stopped giving out money.. And it is a national holiday tomorrow Monday, a holiday that happens every year.
 
PeteEU said:
The ATMs have run out of money, hence they stopped giving out money.. And it is a national holiday tomorrow Monday, a holiday that happens every year.
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The story seems to indicate they they've stopped all these transactions from happening, even electronic transfers and that the tax will be applied to account values at the time the legislation was passed.

Cyprus savings levy: questions and answers | World news | guardian.co.uk

What else is super ****ing lame is that the UK is having to make up the "theft" to British personal in Cyprus.
Basically, the UK is sorta helping bailout Cyprus.
 
Harry Guerrilla said:
The story seems to indicate they they've stopped all these transactions from happening, even electronic transfers and that the tax will be applied to account values at the time the legislation was passed.

Cyprus savings levy: questions and answers | World news | guardian.co.uk
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The legislation is not passed.. yet. Will happen tomorrow most likely... and I feel sorry for the people of Cyprus because they have a choice... either go with this robbery or loose all their money... not an easy thing to deal with. One thing for sure..., in the next elections the right wing will be wiped out in Cyprus.

What else is super ****ing lame is that the UK is having to make up the "theft" to British personal in Cyprus.
Basically, the UK is sorta helping bailout Cyprus.
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They are setting a dangerous precedent..... now every time a Brit gets in trouble because of a failed bank overseas, then the UK government is expected bail them out..

Fact is, this tax, like it or not, is being applied evenly across the board regardless of nationality and no one is forcing British personal to put money in Cyprus banks. They did it out of greed, pure and simple, because Banks in Cyprus had higher interest than UK banks (UK banks near 0, Cyprus banks around 2-4%),.. and now that is coming back to byte them in the ass... tough ****. Cameron is playing popular politics for the mistakes of individuals.
 
Oh wow there is novel idiocy. Let the bank just fail and close yeah that is the ticket, and why....because they are bailing out people who spend more then they tax...DUH....wacky leftists just will never learn modern reality.


PeteEU said:
And if you even remotely read up on the subject then you would know that what you wrote about Cyprus is utter bull****. Cyprus is in trouble because the private banks who lent money to Greece. Yet again the private banking system is the cause not "overspending".
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CalGun said:
Oh wow there is novel idiocy. Let the bank just fail and close yeah that is the ticket, and why....because they are bailing out people who spend more then they tax...DUH....wacky leftists just will never learn modern reality.
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And if you knew anything about Cyprus, you would know that the deficit is mostly due to the state having to bail out the banks... And you would know that before the crisis Cyprus had a surplus but that went south when banks had to be bailed out..

So yet again, the US right has no clue on reality and blame the "left" and overspending when in fact the reason for the problems is.... the private sector and in this case the banking sector..... /clap!
 
Harry Guerrilla said:
I agree.
The story seems to indicate that it targets non Eurozone foreign nationals (Russians in this case).
Kinda reminds me of Argentina doing their currency manipulation.

To me, it certainly bolsters the idea of putting some money in Bitcoins or other forms of currency not controlled by states.
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This really is a step to far. I'm rarely convinced (on numerous topics) that we (citizens) need protecting from an overreaching state when we are discussing a civilized democratic government. How wrong was I....

Paul
 
Helix said:
1. austerity is failing all over the place. all aboard the failboat.
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How is it "failing", before ever having been tried, in Cyrpus?

Anyway, I am all for austerity, as in: systematically reducing spending and perhaps raising more revenue by closing tax loopholes.
But this is not "austerity" - this is robbery. Just grab, out of blue, a tenth of savings on every account?! And the EU had approved it, as a part of the package?!!

Are they, like, NUTS?

Who is going to trust European banks after this?
 
Cyrylek said:
How is it "failing", before ever having been tried, in Cyrpus?

Anyway, I am all for austerity, as in: systematically reducing spending and perhaps raising more revenue by closing tax loopholes.
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i can support it if it's not one-sided, and if it's not done during a recession. if the problem is serious enough to reduce benefits on the demand side, it's also important enough to raise revenue from the supply side.


Cyrylek said:
But this is not "austerity" - this is robbery. Just grab, out of blue, a tenth of savings on every account?! And the EU had approved it, as a part of the package?!!

Are they, like, NUTS?

Who is going to trust European banks after this?
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this particular plan was designed and implemented by fools, apparently.
 
PeteEU said:
And if you even remotely read up on the subject then you would know --
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PeteEU said:
Harry Guerrilla said:
-- What else is super ****ing lame is that the UK is having to make up the "theft" to British personal in Cyprus.
Basically, the UK is sorta helping bailout Cyprus.
Click to expand...
- They are setting a dangerous precedent..... now every time a Brit gets in trouble because of a failed bank overseas, then the UK government is expected bail them out..

Fact is, this tax, like it or not, is being applied evenly across the board regardless of nationality and no one is forcing British personal to put money in Cyprus banks. They did it out of greed, pure and simple, because Banks in Cyprus had higher interest than UK banks (UK banks near 0, Cyprus banks around 2-4%),.. and now that is coming back to byte them in the ass... tough ****. Cameron is playing popular politics for the mistakes of individuals.
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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.

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.
 
It's beginning to look like there's no safe place to keep your money.

Except maybe at home.
 
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