Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Cyprus now looks to take 25 percent from bank accounts of wealthy...(Obama must be drooling)
MSNBC ^ | 3/24/2013 | MSNBC

Posted on 03/24/2013 8:45:12 AM PDT by Dallas59

click here to read article


Navigation: use the links below to view more comments.
first previous 1-2021-33 last
To: mjp

bttt


21 posted on 03/24/2013 10:13:45 AM PDT by petercooper
[ Post Reply | Private Reply | To 17 | View Replies]

To: A CA Guy

what you “heard” appears to be wrong

check the facts for yourself

http://cyprus.deposits.org/

http://europe.deposits.org/

whole lot of “blame the victim” going on and not much sympathy for seizing the deposit bank accounts of “the rich”

Time for “the rich” to get mad AND get even, imho


22 posted on 03/24/2013 10:28:30 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
[ Post Reply | Private Reply | To 9 | View Replies]

To: pepsionice

Creditanstalt 2.0


23 posted on 03/24/2013 10:29:26 AM PDT by silverleaf (Age Takes a Toll: Please Have Exact Change)
[ Post Reply | Private Reply | To 6 | View Replies]

To: pepsionice

” It’d be closer to compare the Cyprus event to 1929 crash...which the banking sector dumped headfirst into Wall Street investments and dragged all of their customer’s money (sitting in plain checking and savings accounts) with them”

Actually, this scenario is being replayed right now in the U.S. stock market. The Fed is giving their banks pretty much all the extra spinning ones and zeros they want for practically zero interest rate, those banks in turn won’t lend those spinning ones and zeros to legitimate borrowers (too much risk), but instead make 30-day loans for a tiny markup above zero interest rate to Wall Street “investment” houses, and they in turn pump it into the U.S. stock market.

Too many spinning ones and zeros sloshing around looking for too few legitimate investments.

At this point, it seems to me that,

U.S. Fed banks + U.S. Stock Market = Russian “investors” + Cypriot banks.


24 posted on 03/24/2013 10:58:04 AM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
[ Post Reply | Private Reply | To 6 | View Replies]

To: catnipman

The one difference I see....at the moment of ‘Black Thursday’...when the Wall Street collapse occurred in 1929....there were these unknown folks who turned on a dime and sold off in massive quantities. To this day....no one in the gov’t or media will ever say who these individuals were and where their profits went in such a hurry. Note, there was an eleven percent sell-off in a matter of minutes that morning.

I don’t see that type of situation with the Cypriot banks. Their investment activity just went down a black hole...day after day, and no one in the Cyprus gov’t, the public sector, or the banks ever acted as it was a big deal....until summer of 2012.


25 posted on 03/24/2013 11:06:31 AM PDT by pepsionice
[ Post Reply | Private Reply | To 24 | View Replies]

To: Dallas59
You just have to believe that our president and his Buddy's are discussing how to do the same thing in our country. It is just to good of an idea to pass up. Of course it would be unconstitutional but he will find a way. It solves the problem in one swell foop.
26 posted on 03/24/2013 11:08:45 AM PDT by ANGGAPO (Layte Gulf Beach Club)
[ Post Reply | Private Reply | To 4 | View Replies]

To: Bon mots
Well, we could grow our economy to a point that would make $20 million a insignificant number, where ever that point is. Everyone would have two jobs and all of our kids would be working too.
27 posted on 03/24/2013 11:17:36 AM PDT by ANGGAPO (Layte Gulf Beach Club)
[ Post Reply | Private Reply | To 13 | View Replies]

To: mjp
When bank accounts are seized... This is the future of America if the libtards can achieve their goals

ALL the world is watching Cypress. The politicians in every country are plotting and scheming based on what happens there, no doubt. The Socialist see a way of keeping their government(power) for just a while longer. The die-hard Marxist are salivating because they see a way of taking as much wealth from the people with impunity, for the greater good dontyaknow. See tagline

28 posted on 03/24/2013 12:02:59 PM PDT by VRW Conspirator (Cyprus - the beginning)
[ Post Reply | Private Reply | To 17 | View Replies]

To: Dallas59

It’s my opinion that pretty much anybody keeping significant amounts of money in U.S. financial institutions these days is behaving foolishly. Interest bearing instruments (esp. bank accounts, CDs and money market funds) pay essentially zero interest rates right now. So, basically, depositors bear a non-zero risk of not getting their money back when they want it in return for essentially zero reward. People would be much better off putting their money in their mattresses. Much safer. And about as productive.

Even better, if ALL conservatives would withdraw their savings from the system, the system would collapse. That would be the modern way of “Going Galt”: don’t remove yourself physically from the system, just remove your money!

No need to uproot and move to a mythical valley in Colorado. Simply starve the Obammunist/fascist/socialist beast by having all the producers withdraw their capital from the system all at once. THEN the socialistic, moocheristic morons would understand the value of capital: when there wasn’t any of it anymore.

Oh sure, Big Ben would conjure even more fiat spinning ones and zeros to “replace” the withdrawn capital, but it wouldn’t be REAL capital. And yes, that would produce inflation (actually just accelerate it), but inflation would destroy the beast too, and the Galters could protect their withdrawn assets from Big Benism by buying hard assets like farm land, farm equipment, water rights (in the West), rental housing, and selected companies that make essential products.

In fact, I would love to see the Galters band together, and form an offshore investment corporation, The Galt Corporation, that purchases essential U.S. industries lock, stock and barrel. No need to uproot the industries and move them to Galt’s Gulch; just buy them and take them private.

And when I say essential, I mean industries that produce stuff people HAVE TO HAVE: food, water, electricity, guns/ammo, and medicine. Buy all the firearms and ammunition makers to start with. Buy the fertilizer makers next. Then buy the farm-equipment makers. Then the food companies. And finally the medical makers, which you immediately physically move offshore as a separate, non-U.S. corporation to remove them from the tribulation of fascist regulation. Totally inflation proof, all of ‘em. Removed from fascist control as far as possible. And people have to have the stuff they make. You do not need to control the means of production. You merely need to control the means to produce food, medicine, guns and ammunition.

And, if there is excess capital after The Galt Corporation owns all of that, pay cash dividends that people can stockpile in their mattresses.


29 posted on 03/24/2013 12:32:28 PM PDT by catnipman (Cat Nipman: Vote Republican in 2012 and only be called racist one more time!)
[ Post Reply | Private Reply | To 1 | View Replies]

To: silverleaf
Well that makes sense as well. If there were especially not the unusual high interest rates given, that would IMO sure make it a horrible case of private wealth confiscation.

PS: Was in Greece about a half year ago. The people there say their problems stem from so many on what we call welfare and even worse all the people uneeded on government employment. They have 900% too many like us.

One person told me the Greece government employees are like sperm; a million go in, but only one does the job.

Also, in the mountains where people retire, most all the places are closed down except the ones who have government jobs. So I can see where those on the dole and the government employees would try and confiscate private wealth to maintain government handouts and employment. FEAR IT HAPPENS HERE MORE. We already have new taxes and wealth confiscation through Obama-care.

30 posted on 03/24/2013 12:35:23 PM PDT by A CA Guy ( God Bless America, God Bless and keep safe our fighting men and women.)
[ Post Reply | Private Reply | To 22 | View Replies]

To: Dallas59

Didn’t South Africa try something like this? Took land and money from producers and gave it to non-producers? That worked, right?

Kidding - Stealing from your citizens is an early choice of tyrants... they love that kind of stuff. ‘Nationalized’ the property of others - works every time.../s


31 posted on 03/24/2013 12:53:24 PM PDT by GOPJ (DHS HAS secured: 1.6 BILLION bullets - 2.700 tanks and 35,000 drones ...to use on American soil...)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Washi

Computers.


32 posted on 03/24/2013 2:10:14 PM PDT by SgtHooper (The last thing I want to do is hurt you. But it's still on the list.)
[ Post Reply | Private Reply | To 12 | View Replies]

To: ANGGAPO
Well, we could grow our economy to a point that would make $20 million a insignificant number, where ever that point is. Everyone would have two jobs and all of our kids would be working too.

Well, we could grow our economy INFLATE OUR CURRENCY to a point that would make $20 million a insignificant number, where ever that point is. Everyone would have two jobs and all of our kids would be working too.

That is what has been set into motion. A loaf of bread will soon cost a million at the rate they are going...

33 posted on 03/25/2013 2:39:34 PM PDT by Bon mots (Abu Ghraib: 47 Times on the front page of the NY Times | Benghazi: 2 Times)
[ Post Reply | Private Reply | To 27 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-33 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson