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Greek banks prepare plan to raid deposits to avert collapse
FT.com ^
| July 3, 2015
| Kerin Hope
Posted on 07/03/2015 5:53:34 PM PDT by House Atreides
Greek banks are preparing contingency plans for a possible bail-in of depositors amid fears the country is heading for financial collapse, bankers and businesspeople with knowledge of the measures said on Friday.
The plans, which call for a haircut of at least 30 per cent on deposits above 8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.
(Excerpt) Read more at ft.com ...
TOPICS: Business/Economy; Extended News; Germany; Government; News/Current Events; United Kingdom
KEYWORDS: alexistsipras; bailin; bankruptcy; banks; cyprus; europeanunion; finance; france; germany; gold; greece; greecebailin; greececrisis; greekbanks; greekcrisis; nato; syriza; unitedkingdom; yanisvaroufakis
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To: PA Engineer
41
posted on
07/03/2015 7:29:42 PM PDT
by
MSF BU
(Support the troops: Join Them.)
To: MSF BU
Interesting article. I suspect that there will be a lot of gold coins carried out of the country by tourists and many more privately sold at a discount.
I did read the ACA and remember there was specific mention of gold. That was troubling at the time, however all of the tightening and abuse of the Structuring laws makes it very difficult to keep assets private. I can't imagine even buying Maple Leafs in Canada without raising flags.
We live in interesting times.
42
posted on
07/03/2015 7:30:11 PM PDT
by
PA Engineer
(Liberate America from the Occupation Media. #2ndAmendmentMatters)
To: SaveFerris
I never had a feel for the timing. I feel right with the Lord though.
Amen
To: MSF BU
As I think about it more, this may mean gold coins of less than an ounce might be more sought after now.
Just caught up with your previous post. I believe part of the "Structuring" laws is to dampen down even smaller gold coins. I have a bad feeling about this and it all seems interconnected.
44
posted on
07/03/2015 7:33:06 PM PDT
by
PA Engineer
(Liberate America from the Occupation Media. #2ndAmendmentMatters)
To: stillfree?
Seems the Messiah is the only hope.
Really, only He was anyways.
45
posted on
07/03/2015 7:36:11 PM PDT
by
SaveFerris
(Be a blessing to a stranger today for some have entertained angels unaware)
To: SaveFerris
What happens in September/October?
To: House Atreides
Margaret Thatcher was right about money.
To: stillfree?
They are basing that on the shemitah (sp).
7-year cycles. ‘87, ‘01, ‘08, etc.
Perhaps a stock market adjustment? Perhaps something Biblical?
Well, we’re gonna find out too soon.
Hard to say. But there is enough secular evidence that trouble is brewing.
48
posted on
07/03/2015 7:38:48 PM PDT
by
SaveFerris
(Be a blessing to a stranger today for some have entertained angels unaware)
To: House Atreides
NEWS alert: Your money doesn’t belong to you, it belongs to rich bankers and government bureaucrats.
49
posted on
07/03/2015 7:43:57 PM PDT
by
JSDude1
To: House Atreides
Two days ago on Bloomberg, the side bar crawl said that a bail- in was not being looked at by the Greek banks.
I told my wife that was a sure sign one was coming.
50
posted on
07/03/2015 7:45:36 PM PDT
by
exit82
("The Taliban is on the inside of the building" E. Nordstrom 10-10-12)
To: PA Engineer
I was thinking of selling in Canada, rather than buying. Even during the depression the Canadians never controlled gold. Then again, maybe it is back to junk silver. It’s certainly the easiest to accumulate.
51
posted on
07/03/2015 7:57:56 PM PDT
by
MSF BU
(Support the troops: Join Them.)
To: mrsmith
Apparently somewhere in the neighborhood of $9000 is the new rich.
52
posted on
07/03/2015 7:58:26 PM PDT
by
Lurkina.n.Learnin
(It's a shame nobama truly doesn't care about any of this. Our country, our future, he doesn't care)
To: SaveFerris
The question is, when does it happen here? That might well be the way our out-of-control debt is finally addressed. All the businessmen and corporations who want an endless flow of cheap labor are actually helping to create the electorate who will happily vote in lawmakers who will seize portions of bank accounts and other assets to begin paying off the debt and to meet various social justice needs.
53
posted on
07/03/2015 8:08:50 PM PDT
by
Will88
To: Will88
Could very well be. I am of the opinion that 90% or more of politicians have been bought and paid for.
54
posted on
07/03/2015 8:10:02 PM PDT
by
SaveFerris
(Be a blessing to a stranger today for some have entertained angels unaware)
To: House Atreides
Ok. Then the banksters should face Nuremberg style trials in absentia if necessary. Then, hire bounty hunters.
The only way to stop this nonsense is to hold the international banking organizations and their members personally responsible by jailing them and confiscating their personal assets.
Little Iceland did it.
55
posted on
07/03/2015 8:12:59 PM PDT
by
grumpygresh
(My real thoughts have been self censored.)
To: grumpygresh
This stuff makes me happy that I’m relatively old. Rough times ahead for all.
56
posted on
07/03/2015 8:17:06 PM PDT
by
hal ogen
(First Amendment or Reeducation Camp?)
To: grumpygresh
The only way to stop this nonsense is to hold the international banking organizations and their members personally responsible by jailing them and confiscating their personal assets. I can think of a couple of US banksters that should happen to...Tim Geithner for example.
57
posted on
07/03/2015 8:18:48 PM PDT
by
ROCKLOBSTER
(Celebrate "Republicans Freed the Slaves Month")
To: ROCKLOBSTER
I think at this point, the Greek government needs to nationalize the banks and kick out the international banksters. Of course, they will need to have the backing of Russia’s military and China’s gold.
This wouldn’t necessarily be in the interests of the trilateral establishment that runs the West, but it would be a way for Greece to exit serfdom. Unfortunately, they would be subject to Russia/China. Hobson’s choice.
58
posted on
07/03/2015 8:29:51 PM PDT
by
grumpygresh
(My real thoughts have been self censored.)
To: MSF BU
I was thinking of selling in Canada, rather than buying. Even during the depression the Canadians never controlled gold. Then again, maybe it is back to junk silver. Its certainly the easiest to accumulate.
Agreed.
59
posted on
07/03/2015 8:43:11 PM PDT
by
PA Engineer
(Liberate America from the Occupation Media. #2ndAmendmentMatters)
To: House Atreides
After the “Cyprus Incident”, I have been waiting for the nasty scenario of a banker or government official being forcibly removed from their comfortable abode, strapped (duct-taped) to a rolling office chair and publicly tortured. Guess the imagery is just too subtle...
60
posted on
07/03/2015 9:20:31 PM PDT
by
Artie
(We are surrounded by MORONS)
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