Posted on 03/17/2013 10:52:43 AM PDT by WriteOn
” - even his safety deposit box.”
No one today who has any understanding of what is going on and coming down would have anything in a bank safety deposit box. It is the least safe place to keep anything of value...maybe a numbered acct box in Switzerland would be a ‘safe’ option, though I would not trust that either.
Russian gangsters EU banksters...what’s the difference?
I’ve read that as well. Looks like when the banks reopen Wednesday, capital controls will be in place.
I’d be willing to bet that out-of-country transfers will be impossible. They won’t be allowed.
Apparently, Cypriot-based banks operating in Greece are not affected by this, as they’re going to be taken over sometime this week by a Greek bank, and banks in the Northern sector of Cyprus, the TRNC, are unaffected by this measure as well.
You really need to go into Cyprus for several weeks and view how everything works. I spent two weeks of vacation there in 2009. Tons of construction going on...at a minor level, but I just kept wondering what was really paying for this? Tourism hasn’t changed much over the last ten years. The island survives mostly off the Russians and tourism, period.
I don't recall any backlash when the 'To Big To Fail' money launderers in NYC were bailed out.
US regulator cites Citibank for violating money-laundering law
http://www.nypost.com/p/news/business/us_regulator_cites_citibank_for_5evpK0WcY1TvhUJQA396RL
The last time I was in the Greek part of the island with my ex-wife, she turned to me while we were lying on the beach and asked, “Good lord, did we end up in $&!*#%* Russia or something?” She’s Czech, by the way.
Hmmm, I know the Russians have always desired a year-round warm water port for their Navy, perhaps they were trying to “buy” Cyprus with that purpose in mind.
The year-round warm water port for their Navy is the Russian dream. I wouldn’t be surprised one iota if they were trying to “buy” Cyprus to make that age-old dream a reality.
And indeed if this move by the EU in any way thwarts that plan, things could get real dicey.
The Greeks are basically bankrupt, so I’m sure they could be impressed upon to part with a few of their more remote Aegean islands for a nice wad of cash from Moscow.
I’ll bet North Cyprus isn’t affected by all of this bad stuff.
Finally someone gets the right perspective on this matter.
All the previous whining about poor Cypriots...and it’s still the northern part of the euro countries that is getting screwed by Brussels...again.
You’re right, it’s not affected at all. I got that confirmed from a former student of mine from Famagusta.
If allowed to stand, we could easily see sudden “we need more money, take 1% of all little accounts and 10% of all big accounts” sweeping through the banking institutions.
As people catch on and empty out their accounts, the economy will be “stimulated” one more time.
Bull$h!t. There is no justification. It is theft.
They already do. It’s called “service fees”.
They totally refused to give a reason. But they had done this several months earlier to a manufacturer of AR-15’s, and I warned my friend of their actions. They since have taken the same action to many other company in any type of gun business - with no explanation.
As a result there is a good-sized protest move among conservatives to get everyone with BoA to leave.....
My friend did eventually get all his assets - but not without bounced checks to his suppliers (who all understood) and an arraged apt. to empty his safety deposit box and accounts. This is 100% true. Search the web and I’m sure you will find similar stories.
BoA is an Obama agent.....
Deposits up to 100,000 eu were FEDERALLY INSURED. Federal insurance (think FDIC) is intended to prevent runs on banks. If they go through with giving those deposits a haircut, then the concept of federally insured deposits is irreparably damaged. It becomes meaningless. The next time the solvency of European banks is questioned, there will be MASSIVE runs on those banks. And the damage will not be stopped at the Atlantic Ocean.
This may be a turning point in history. Not a good one.
You make a good point. The S&L Crisis here i the US - caused by the FedGov, was ‘solved byt he FedGov -sorta. Must of the funds used to bailout the stupid, sorry, I mean failed S&Ls was from fees imposed on ALL S&K depositors.
The FDIC was a way to stop possible bank runs. When the FDIC (as seen in Cyprus) steals your money, what then?
Look to the collapse of the Iceland banks as a possible outcome here.
Hope you have a bicycle and some extra food at home...
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