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Thread: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

  1. #21
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    This is a test from the multi-billionaires that run everything (banks) to see how much they can steal from those with just a little more than the poor working class. The rich lost some of their money and if we won't spend it they'll just take it. If this doesn't cause a ripple effect in the markets they'll do it again and again.
    Einstein, "science without religion is lame, religion without science is blind."

  2. #22
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    Quote Originally Posted by grip View Post
    This is a test from the multi-billionaires that run everything (banks) to see how much they can steal from those with just a little more than the poor working class. The rich lost some of their money and if we won't spend it they'll just take it. If this doesn't cause a ripple effect in the markets they'll do it again and again.
    Cypriot banks reopen after 12 days -- but customers can only withdraw $383 each - World News

    "With just 860,000 people, Cyprus has about 68 billion euros in its banks - a vastly outsized financial system that attracted deposits from foreigners as an offshore haven but foundered after investments in neighboring Greece went sour."

    "CNBC sources estimate those with more than 100,000 euros (about $128,000) in accounts in Laiki Bank could lose 40 to 70 percent of their deposits."

    I had read elsewhere that deposits from Russians accounted for approximately $40 Billion, ergo the Russians are paying for a EuroBank bailout. It states that these large account holders will lose 40 to 70% of their investment, and be given bank stock or something. Isn't a theft of this magnitude a cause for war. When the US banks crashed in 2008, every traxpayer in the USA is still paying for those losses because the gov't, that's us, bailed them out. It may have saved the banking system, but it is screwing us and the "banksters" are still reaping the rewards. Does anyone anywhere still believe that big banks are anything but a "nest of thieves?" The USA citizens get screwed everyday, the Russians get screwed in Cyprus, and will the Chinese be the next to get screwed by some tricky default. Sounds like business per usual to me. What thinkest thou?

  3. #23
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    I couldn't have said this better or more accurately. It's a terrific read.

    Banking with a gun to your head

    Banking with a gun to your head - English pravda.ru

    "How has it got to his - better still, where is it heading?! Well, firstly it has got to this simply by fiscal policy dictated by the Banksters - ooh, hang on; I can hear the economists and financial buffoons starting on their Keynesian Theory of economics and related theories. The theories are just that - theories, as logical and as true as the Domino Theory which held that if Vietnam fell to the communists, all of South East Asia, Australia and New Zealand would become Communist. The truth of the matter is simply there is no reason or justification for inflation - we are driven by debt and the manufacturing of wealth! All done by the Banksters. Secondly, we are heading to total control of your life by the Banksters - this will be modern Serfdom; you will be owned and controlled by the Banksters. Try living now without a bank - throw away your credit card, dump your EFPOS card, burn your cheque book and switch off internet banking - see how long you last! The Banksters want control of your wealth so that they can steal it - so that you need their loans, so that you need the Banks in order to survive. What amazes me is so many cannot see that.

    Go back to the Cypriot disease. Supposedly, if we are to believe the official line, this problem was created by investors. Well, often the best lie contains an element of truth; and so it is here. The major investors in the failing Cypriot banks were overseas investors and they had pumped million of Euros into the banks. One could rightly argue that should strengthen the banks! But it appears that the majority of these overseas investors were Russians - ooh, here comes the evil Russians. Russians invested their money into the Cypriot banks because of the return that they got on their investment there - a better return than in other Euro Zone states. What the Banksters didn't like, was the Russians prospering on differential banking rates - rates that the Banksters hadn't controlled throughout the Euro Zone and so left this opportunity open for the Russian investors [and any other overseas investor willing to seize the opportunity]. Cyprus was doing very well on the back of overseas investment and was providing a standard of living, higher than other PIIGS Euro countries as a result. In line with the overall aim of the Banksters to reduce personal wealth, Cyprus had to be taught a lesson. This is as much to do with disciplining a nation as it has to do with fiscal policy. Then on the other hand, it allows the modern-day Hitler in Germany to punish Russian investors who had the audacity to prosper in the Euro Zone. Germany, indeed much of Europe, eyes with jaundiced eye, the growing Russian military and financial strength; they do not like being beholding to Russia at all and as Europe now is under the same control of the International Traveller and Banksters, they see that Russia must be brought in from the cold and under-heal.

    The Banksters, by forcing a nation to accept terms whereby the country acts illegally; howbeit, retrospectively they justify their actions through passing law, are manipulating the domestic policies of a nation as well as influencing the greater world economy. [See what Medvedev had to say about the illegal tax to be placed on overseas investors]. When one invests, there are agreed terms and conditions applicable to that investment. One expects international law to dictate that those terms and conditions will be adhered too. Money is deposited under certain terms and if those terms are varied, the investor has the right to either withdraw his investment or continue investing. However, when Banks operate as a separate entity [under control of others], then the rule of law is illusionary. When Banks can close and deny access to your private money and can force a penalty tax for investing in the bank - then something seriously is wrong with the banking system. This is Banking with a gun to your head."

  4. #24
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    When the USA Major Media fail to cover a story of this magnitude, then an attempt is being made to contain the pertinent information. This banking scandal is "banking per usual" in the USA. The details need to be examined and publicized for the good of the citizenry. Why is this story being minimized in the Press?

  5. #25
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    Quote Originally Posted by DaveFagan View Post
    Cypriot banks reopen after 12 days -- but customers can only withdraw $383 each - World News

    "With just 860,000 people, Cyprus has about 68 billion euros in its banks - a vastly outsized financial system that attracted deposits from foreigners as an offshore haven but foundered after investments in neighboring Greece went sour."

    "CNBC sources estimate those with more than 100,000 euros (about $128,000) in accounts in Laiki Bank could lose 40 to 70 percent of their deposits."

    I had read elsewhere that deposits from Russians accounted for approximately $40 Billion, ergo the Russians are paying for a EuroBank bailout. It states that these large account holders will lose 40 to 70% of their investment, and be given bank stock or something. Isn't a theft of this magnitude a cause for war. When the US banks crashed in 2008, every traxpayer in the USA is still paying for those losses because the gov't, that's us, bailed them out. It may have saved the banking system, but it is screwing us and the "banksters" are still reaping the rewards. Does anyone anywhere still believe that big banks are anything but a "nest of thieves?" The USA citizens get screwed everyday, the Russians get screwed in Cyprus, and will the Chinese be the next to get screwed by some tricky default. Sounds like business per usual to me. What thinkest thou?
    The gov in collusion with the corporate elite have figured out every way to entice people to spend and lose their money that's possible. Now that they can't get the savers to spend it all they're simply stealing it because they can. And it will continue till the masses rise up and raid their luxury homes and accounts, throwing the bums out of office and position. I hate to say it might come to this but I hope not. Greed is a powerful and blinding emotion. The elite think they're indispensable and that we the people are throw away trash.
    Einstein, "science without religion is lame, religion without science is blind."

  6. #26
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    Quote Originally Posted by PeteEU View Post
    It is no different than what the US did at the start of this financial crash.. push the burden of repair onto the public... The only difference is that in Cyprus they went directly for the bank books, where as in the US and elsewhere they did it by loading on debt on debt and creating deficits in the public sector and then crying "oh we must cut because we are spending too much"...

    In the end it is the average Joe that pays and the ones who caused the problem are laughing all the way to the bank while living a life of luxury in tax haven some where.
    The average "Joe" in Cyprus does not have over $100,000 euros in the bank. Most of that wealth is from Russian Govt. "mobsters" who use Cyprus as a tax haven for their stolen cash. In this case at least it is a "what goes around comes around" situation that could easily be called "protection money" so the Russians would understand the concept. If the money is already "stolen" how can it be theft? I chalk it up to Karma, you can't escape it.

  7. #27
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    Quote Originally Posted by iguanaman View Post
    The average "Joe" in Cyprus does not have over $100,000 euros in the bank. Most of that wealth is from Russian Govt. "mobsters" who use Cyprus as a tax haven for their stolen cash. In this case at least it is a "what goes around comes around" situation that could easily be called "protection money" so the Russians would understand the concept. If the money is already "stolen" how can it be theft? I chalk it up to Karma, you can't escape it.
    I need a clarification between "Russian Gov't Mobsters" and "USA Banksters," as they appear to be the same to me. I can clearly see that the FED and the Bank of England and the EuroBank colluded in 2008 to keep each other afloat. That might indicate that the Russian Bank is not a member of the team. Would that be a team or another word for some type of Mafia? Current actions in Cyprus indicate if you are not a part of the team, BEWARE! I think it is way past time to prosecute.

  8. #28
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    Quote Originally Posted by grip View Post
    The gov in collusion with the corporate elite have figured out every way to entice people to spend and lose their money that's possible. Now that they can't get the savers to spend it all they're simply stealing it because they can. And it will continue till the masses rise up and raid their luxury homes and accounts, throwing the bums out of office and position. I hate to say it might come to this but I hope not. Greed is a powerful and blinding emotion. The elite think they're indispensable and that we the people are throw away trash.
    For the love of god...listen

    Laiki Bank is bankrupt. What happens in a US bank when it goes belly up? ... Well it has happened over 300 time since 2007,.. so what happens? Well at best a customer can get 1.5 million, but most will at most get up to 250k US dollars and that is only under certain conditions and ONLY in banks that the FDIC insures. Those are the FDIC rules. Also the FDIC deposit insurance plan is only viable if the FDIC has the money or the US federal government "bails out" the FDIC. The FDIC does not have the 4+ trillion dollars needed to guarantee all deposits in the US.. it does not even have 100 billion. So when Washington Mutual went belly up due to the sub-prime crisis, then the FDIC was screwed, because the deposits in Washington Mutual was far far more than what it had in reserves. That is why the Feds forced Bank of America to suck up Washington Mutual, because the FDIC could not pay the 100+ billion needed to guarantee the deposits in the bank. Fact is that the FDIC at the end of 2009 or 10, only had like 45 million dollars left and had to get more capital.... see the problem?

    Now in Europe the limit in most countries is 100k Euros, and with the new banking union in the Eurozone, then it will be 100k Euros for all Eurozone countries. But until the banking union is in place, then it is each country that is guaranteeing the deposits, not the Eurozone. Hence when the top two Cyprus banks got into trouble and Laiki Bank went bankrupt, the first thing they Cyprus government did was to sieze the bank and nationalize it. Problem was that the debts in the bank were so much bigger than the over all Cyprus economy and that meant that the Cyprus government got in trouble... they could not afford to guarantee the deposits of the top two banks, let alone Laiki bank.

    So the problem was that without help from the Eurozone to bail-out these two banks, then these banks would go bankrupt and all the deposits would poof, not only those over 100k.

    Now I admit fully that the first attempt that was made, that even put a small charge on depositors under 100k was a boneheaded idiotic move that put the whole banking system at risk in every country in the industrialized world.. simply because most people have lived in a fantasy world thinking that all their deposits in the banks were guaranteed... but the fact of the matter is.. they are not. And this is this realization that is hitting most people.. holy ****, the banks are not 100% safe, especially if you have more than the guaranteed amount.

    So the fact is, the depositors in Laiki Bank are actually getting a better deal compared to a normal bank bankruptcy... at least they are getting some of their money over 100k back.

    Let me ask you this... Lehman Brothers went belly up.. did everyone get their money they had deposited there? Yes it was not a bank bank, but the principle is the same.
    PeteEU

  9. #29
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    Quote Originally Posted by peteeu View Post
    for the love of god...listen

    laiki bank is bankrupt. What happens in a us bank when it goes belly up? ... Well it has happened over 300 time since 2007,.. So what happens? Well at best a customer can get 1.5 million, but most will at most get up to 250k us dollars and that is only under certain conditions and only in banks that the fdic insures. Those are the fdic rules. Also the fdic deposit insurance plan is only viable if the fdic has the money or the us federal government "bails out" the fdic. The fdic does not have the 4+ trillion dollars needed to guarantee all deposits in the us.. It does not even have 100 billion. So when washington mutual went belly up due to the sub-prime crisis, then the fdic was screwed, because the deposits in washington mutual was far far more than what it had in reserves. That is why the feds forced bank of america to suck up washington mutual, because the fdic could not pay the 100+ billion needed to guarantee the deposits in the bank. Fact is that the fdic at the end of 2009 or 10, only had like 45 million dollars left and had to get more capital.... See the problem?

    Now in europe the limit in most countries is 100k euros, and with the new banking union in the eurozone, then it will be 100k euros for all eurozone countries. But until the banking union is in place, then it is each country that is guaranteeing the deposits, not the eurozone. Hence when the top two cyprus banks got into trouble and laiki bank went bankrupt, the first thing they cyprus government did was to sieze the bank and nationalize it. Problem was that the debts in the bank were so much bigger than the over all cyprus economy and that meant that the cyprus government got in trouble... They could not afford to guarantee the deposits of the top two banks, let alone laiki bank.

    So the problem was that without help from the eurozone to bail-out these two banks, then these banks would go bankrupt and all the deposits would poof, not only those over 100k.

    Now i admit fully that the first attempt that was made, that even put a small charge on depositors under 100k was a boneheaded idiotic move that put the whole banking system at risk in every country in the industrialized world.. Simply because most people have lived in a fantasy world thinking that all their deposits in the banks were guaranteed... But the fact of the matter is.. They are not. And this is this realization that is hitting most people.. Holy ****, the banks are not 100% safe, especially if you have more than the guaranteed amount.

    So the fact is, the depositors in laiki bank are actually getting a better deal compared to a normal bank bankruptcy... At least they are getting some of their money over 100k back.

    Let me ask you this... Lehman brothers went belly up.. Did everyone get their money they had deposited there? Yes it was not a bank bank, but the principle is the same.
    wrong!
    Einstein, "science without religion is lame, religion without science is blind."

  10. #30
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    Re: The Confiscatory Cyprus Bank Tax Idea Destroyed European Bank Confidence ???

    theft or not, it's incredibly stupid. from what i understand, the lifeblood of that nation is foreign rich people hiding money from taxes in Cypriot banks. they killed the golden goose for generations to come, for sure.

    i'm not a huge fan of offshore tax havens, but if you are one and if your economy depends on it, don't do what Cyprus did.

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