Posted on 03/16/2013 6:21:18 PM PDT by Kartographer
*Lines formed at ATMs as people scrambled to pull their money out
*Word spread that rescue package included a one-off levy on deposits
*Restrictions stopping people emptying accounts or moving money abroad
*Up to 3,000 British service personnel are based on the bankrupt island
*President Nicos Anastasiades agreed to raid with European finance chiefs Said country in 'state of emergency' and not acting would be 'catastrophic' But expats accused the island of 'plain theft' as violent protests sparked
*Britons have around £1.7b of deposits on island and could lose up to £170m
(Excerpt) Read more at dailymail.co.uk ...
Just WOW!!
Preppers’ PING!!
Don’t worry, the president says there is nothing wrong with our debt. Meanwhile, I will be stuffing my mattress.
-— Meanwhile, I will be stuffing my mattress. ——
Ha! The wife said today that we should start taking our money out of the bank.
They overspent.
The “overspent” mantra is getting tiresome. Especially since the EU is using it as an excuse to raise taxes and rob the other member states.
Hey, what with the interest rates at the bank, you're coming out ahead. At least you have your money.
There’s a lesson here. ALWAYS keep cash on hand. Always.
Our govt has talked about doing this with 401K money.
The EU is not stealing from them.
Look, if you want to run a megastate like the USA or China ~ or even a mini-megastate like Brazil or Russia, or Indonesia you cannot allow each semi-autonomous state or other entity to tap into the aggregate official national debt system without compensatory currency control.
The best move for the EU is to financially isolate Cyprus, Italy, Portugal, Spain, and maybe a few others in the East.
This will bring violence and revolution at the least, war at the worst.
Expect bank runs in every EU country next week. Who will bail them out? You and me, with Ben’s printing press. Then look for the same here.
But defined benefits pensions for government employees are exempt?
This must be making ubama salivate at the thought of doing the same here.
I believe this situation is unique to Cyprus. And I think, though I’m still waiting on confirmation, that it’s only affecting the Greek part of the island. But as I said, I don’t know with 100% certainty.
Don’t forget the northern third of the country, the TRNC, is ostensibly under Turkish control. I think the TRNC is only recognized by Turkey, if I’m not mistaken.
The reports I read indicated they were targeting 401ks and IRAs which would exclude most of the govt pension plans wouldnt it?
This must be making ubama salivate at the thought of doing the same here.
Hmmmmmm.: Is this why the Government does not write checks any more/
Why they insist on Direct deposit.
Is there some reason anyone would ever start another savings account after seeing the Government steal their money right out from under them? It is bad enough they pay us .01% interest on our savings , but is there a plan to steal it all?
Maybe it isn’t a Cyber attack on the banks we must fear, but Government theft.
This could start a run in other countries——including ours. I know I intend to take some money out.
It isn’t earning me anything anyway and it could be just as safe buried in my backyard. (Just a figure of speech).
I gave thought to a safe deposit box , but if the banks go down the Government would lock them quickly.
In a perverse way, in the short run, this is actually good for US banks and the dollar. If depositors can get their money out, where do you think it is going to go?
Of course the EU is stealing from them. You actually think the EU is honest? They pulled the rug out from these countries by the worst kind of predatory lending in history. The EU just stole Cyprus’ national sovereignty.
Huge amounts of Russian money. Black market kind of money. Putin won’t like this...
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