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Dark times in Cyprus, are we next?


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#1    Jor-el

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Posted 18 March 2013 - 08:27 PM

I find it strange how we in the European Union seem to class everything in life as secondary aside from finances, Cyprus woke up yesterday with the news that a new one time tax was going to be instituted, where people whose lifesavings in banks are over  €100 000 must pay 10% of those deposits to the government while under that ammount it is 6.75%.

As some have classified it it is legalized piracy by a sovereign nation.

The trouble is that if this passes, are we going to see the same type of thing in other countries that are classified as "risky investments"?

Where is the line between saving a nation and destroying it?

I find this attitude to be somewhat similar to Portugals "piracy" of its citizens wealth, where we got an aproximate 10% increase in what we have to pay the government in the annual IRS statements. Are we seeing the 1st signs of a European money gobbling machine?

Edited by Jor-el, 18 March 2013 - 08:27 PM.

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#2    Admiral Rhubarb

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Posted 18 March 2013 - 08:31 PM

Well, unless someone begins to stand up to the bullies of the Imperial Powers of Strasbourg & Brussels, then they're just going to keep getting away with blatant extortion. One day, perhaps, one of the small countries is going to say No to the bullying, and then we'll see what might happen.

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#3    Jor-el

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Posted 18 March 2013 - 08:36 PM

Yeah we tried that here in Portugal, it never got off the ground, I wonder how many kicks to the crotch we are going to take before someone says enough!

Over a million protestors, that's 10% of the entire nation and the government just smiles....

Edited by Jor-el, 18 March 2013 - 08:37 PM.

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#4    AsteroidX

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Posted 18 March 2013 - 08:38 PM

Fracking in the EU ?


#5    OverSword

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Posted 18 March 2013 - 09:21 PM

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#6    Jor-el

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Posted 18 March 2013 - 09:30 PM

View PostOverSword, on 18 March 2013 - 09:21 PM, said:

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I think that pretty much sums it all up for me...

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#7    Jackofalltrades

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Posted 18 March 2013 - 09:53 PM

Seem's to me the whole of the EU is in for some dark time's ahead, some EU are already going through it.......
Make's me wonder if it has been manufactured in some way, to be that way...

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#8    Jor-el

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Posted 18 March 2013 - 10:12 PM

View PostJackofalltrades, on 18 March 2013 - 09:53 PM, said:

Seem's to me the whole of the EU is in for some dark time's ahead, some EU are already going through it.......
Make's me wonder if it has been manufactured in some way, to be that way...

I think yes... a convenient emergency is an excellent excuse for centralizing power and control of the population.

I think back to the 911 crisis and the similarites start becoming apparent.

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#9    acidhead

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Posted 19 March 2013 - 03:55 AM

View PostJor-el, on 18 March 2013 - 08:27 PM, said:

Are we seeing the 1st signs of a European money gobbling machine?

Yes.... Give up an inch without protest from individuals in other countries and they'll take a mile in yours.  What just happened in Cyprus was bank robbery and nobody complains about another individuals personal problem until it happens to them.  By then it will be too late to do anything but accept you've been robbed and move on minus the dollars stole by the banksters.  They're are stealing money from the bottom and giving it to the top.... business as usual.

Edited by acidhead, 19 March 2013 - 03:59 AM.

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#10    shaddow134

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Posted 19 March 2013 - 05:52 AM

The Germans are the ones driving this,they know that when the Euro goes Tits up they will the ones that will be left holding the baby and their Economy will be severely hit.If Greece and Portugal suddenly left the Euro,France and Germany will have to finance their Debt.German Economists have already planned for the Collapse of the Euro, and this latest venture is purely designed to soften the blow if the Euro goes belly up.




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Edited by shaddow134, 19 March 2013 - 05:57 AM.

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#11    bmk1245

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Posted 19 March 2013 - 08:20 AM

Quote

It's easy to see why some in Russia are unhappy with a new proposal from the European Union to levy a one-off tax on Cyprus bank deposits of up to 9.9% in exchange for €10 billion in bailout money to help the government pay its bills. If most of Russia's deposits get hit with the top tax rate, which applies to accounts holding €100,000 or more, the country's citizens stand to lose more than $3 billion.
[...]
There's a suspicion that not all of that money was obtained honestly. Cyprus is believed to be a harbor for ill-gotten gains. The country "remains vulnerable to money laundering; reporting of suspicious transactions in offshore sector remains weak," the U.S. Central Intelligence Agency wrote in its country brief.

Expanded surveillance around money laundering is one of the things being discussed as part of a bailout.
(link)
Just wonder how many "black" € russians (and others) were keeping there...

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#12    AsteroidX

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Posted 19 March 2013 - 08:37 AM

Quote

U.S. Central Intelligence Agency wrote in its country brief.

Expanded surveillance around money laundering is one of the things being discussed as part of a bailout.

That sounds like a win win. wtf business is it of USA. We dont use Euros. Or own Cyprus banks.


#13    Admiral Rhubarb

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Posted 19 March 2013 - 09:15 AM

View PostAsteroidX, on 19 March 2013 - 08:37 AM, said:

That sounds like a win win. wtf business is it of USA. We dont use Euros. Or own Cyprus banks.
The CIA has a World Factbook about every country in the world; and you'd expect them to keep an eye on what's going on everyone in the world, wouldn't you? particularly regarding possibly shady financial dealings.

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#14    ExpandMyMind

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Posted 19 March 2013 - 10:21 AM

View PostLord Vetinari, on 18 March 2013 - 08:31 PM, said:

Well, unless someone begins to stand up to the bullies of the Imperial Powers of Strasbourg & Brussels, then they're just going to keep getting away with blatant extortion. One day, perhaps, one of the small countries is going to say No to the bullying, and then we'll see what might happen.

I don't think it has as much to do with the EU as it does banking cartels. It is the international banks that are forcing this sort of robbery on countries, not simply the EU. It is the deregulated, idiotic banking that has allowed things to descend to this point.

And with this in mind, I believe there is already one country that has said no: Iceland.

Edited by ExpandMyMind, 19 March 2013 - 10:24 AM.


#15    Jeremiah65

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Posted 19 March 2013 - 04:39 PM

There is a lot of breaking info on this.

Apparently the money grab is not going to be approved and the Cypriot Finance Minister has resigned.

http://www.zerohedge...inister-resigns

Crowds are gathering outside of parliament.

http://www.rightnow....3433304743.html

This is almost assuredly going to cause a run on banks regardless.  People are angry.  If they grab the money, the people will take whatever they have left.  if they do not grab the money, people will still draw their money out.  Lose-lose anyone?

There are rumors that apparently the UK is sending a plane with a million Euros cash for their military to Cyprus.  This might be an indicator that the banks are not going to opening anytime soon.  This is hearsay though and I have not confirmed it.  Hopefully someone might know if this is fact or false.

Very interesting developments.  I think what we are seeing is the unraveling.  These bailouts and handouts are not sustainable.  Grabbing the people's money isn't going to solve an unsustainable debt and deficit problem.  The small guys will be the first to fall.  Keep your eyes on things folks...this might be the first domino.


But then again, I have no idea what I am talking about.

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