the real messed up part is, from what i've read the Russian mobsters were allowed to withdraw their money before this took effect...
Posted on 03/29/2013 6:20:54 PM PDT by SeekAndFind
It won’t end until bankers are hanging from street lights...
We are going to need a bigger boat.
banking withholding and Cyprus - good article of where the money went
I think the Federal Reserve is a good place to start... and let's not forget their Congressional enablers.
I bet the Russian mob got all of their money quietly. I doubt the bankers wanted to risk getting killed.
I have seen this come for many years, mostly when it hit Argentina.
Why would anybody have any actual cash in a bank is beyond my understanding; it WILL be taken, is just a matter of time.
Bookmarked.
The bankers will be just the beginning.It will be France 1793-94.
The real truth is that the Russian money is long gone. The threat was made and the last week the Russian money went out the back door using the “exceptions”. The confiscation went up to 80% because the Russian money was long gone and all that was left were the Cyprus suckers. The ECB and IMF and the Cypriot government all knew this days ago.
the real messed up part is, from what i've read the Russian mobsters were allowed to withdraw their money before this took effect...
bttt
I cannot imagine an argument against using violence against the authors of this nightmare. If a mugger held a knife and demanded 50 dollars, he could be shot freely. Why is such this theft,, so much more severe against an individual, deserving of less of a response?
Worse. Think about the weapons today versus then.
Why do you think the elite are trying to take guns from common people?
http://www.youtube.com/watch?v=vB5LK-jihgk
First of all, while they have frozen parts of accounts, that is not the same as the payments they are seeking from those accounts. I didn’t hear the last interest rate for those, but it was earlier 10%-20% of amounts over the deposit insurance amount.
Back in the 90s, I bought some stock. I lost every dime I put into the stock. Nobody cried a tear for me — I knew that I was investing in a non-insured fund, and was hoping to make money.
When you put money in a bank, it isn’t like burying it in your back yard. The bank takes your money, and tries to make more money. It is an investment, and carries risk. Governments form insurance pools to guard against “bank loss” — in Cyprus, there was insurance, up to a certain amount, in each bank.
At first, they were going to take money from insured accounts, but they decided against that.
No depositor should think their money above the insured amount is guaranteed.
Now, what happens if you put your money at risk? You expect to be paid for the risk. What are you all earning on your insured bank deposits today? If you are getting 0.1%, you probably are doing well.
Guess what people who were over the deposit insurance limit were getting in the Cyprus banks? 7%. SEVEN. If you put your money into a Cyprus bank 2 years ago, and today have 10% of that money taken from you, you are 4% ahead. In other words, you were being paid pretty well for the risk you were taking.
In this country, you’d have to find a risky business to loan money to in order to earn 7%, that would be junk bond territory, and you would understand that you were risking your principal.
RE; Why would anybody have any actual cash in a bank is beyond my understanding;
I gather you work for yourself... or you work for a small business who pays you in cash.
Other than that I can’t see how you can escape putting money in the bank. Most companies either send you a check or directly deposit your salary into your bank account.
Several times on these forums I proposed that governments view all money in all locations as government property being let out for temporary use by the citizenry and it can be recalled at any moment.
The old fellow that lost his life savings now understands that.
By the way, what were we taught in school about the purposes and utility of having a government?
Coming to a BOFA near you soon.
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