Posted on 03/22/2013 3:54:22 PM PDT by whitedog57
As expected, Russian depositors are fleeing Cyprus (and the EU/IMF) seeking protection from the tax crazed Troika/IMF/EU.
http://mobile.reuters.com/article/idUSBRE92L0PI20130322?irpc=932
Of course, Russia and other foreign depositors should help clean up the mess in Cyprus. Not Northern Europe or Germany.
Paul Krugman has a nice summary on his NYTimes blog: http://krugman.blogs.nytimes.com/2013/03/21/cyprus-the-sum-of-all-fubar/
Notice that moving deposits to the USA is not discussed. Could it be that our Federal Reserve has already levied a tax on US depositors already? Via quantitative easing?
Yes, savers are certainly experiencing a heavy tax via money printing.
Stay tuned.
Like the warning in “Twister”, “An F5 is coming!!” And Bill Paxton’s deadpanned “It’s already here.” Between The Fed’s easing and Obamacare taxation, Cyprus is already here.
Russians should move their deposits to OUR off shore tax havens where our elites stash their cash, such as the Cayman Islands. Just ask Bill and Hillary Clinton about their three Cayman Island accounts.
Doubt it. He likely blames Bush.
I don't know if I'd characterize it that way. They wanted bank reserves replenished before sending more money. People need to be wary of amateurish financial writing on blogs.
Is the author an idiot or is that little “of course foreign depositors should pay for the mess in Cyprus” thing intended to be tongue in cheek? Foreign depositors capitalized Cypriot banks and enabled their financial system, such as it is, to function. This constant implication that it’s all criminal money laundering is disturbing. Not all of it is, and even less can be somehow proved to be illicit. Agree with the scapegoating now, don’t cry when your ETF or foreign currency CD is levied.
While I am certainly no expert, by following developments I only partially comprehend, I gather the gist of it all is that the Swiss were the first foreign money launderers to cave, not sure what has happened in the Caymans, but Cyprus looks to be the first truly international major banking group brought down publically in the shadow war against the USA.
Our “good buddies” and “allies” worldwide have been caught red handed, breaking all kinds of internal and external banking regulations, and openly working against US.
And don't forget our own homegrown domestic enemies who helped move the process.
As a SAC trained killer, I have to say I much preferred the dangerous times of open, all out nuclear war threats between the USA and the USSR.
Normal people everywhere could go about their daily lives, secure in the knowledge that nobody in power was eager to strike that first blow.
Now?
We are at a higher risk of all out WWIII than ever before in my lifetime.
And our EU “friends and allies” will be the ones who have initiated it.
What will China do?
LOL.
That's what they will do.
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.