Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

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Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  News Hawk on Sat Mar 23, 2013 8:25 pm

Cyprus agreed to seize ten percent of the money in all Cyprus bank accounts to avoid bankruptcy. It's an outrageous seizure of private property. The White House issued a statement immediately saying that President Obama is always looking for fresh new ideas.

(Humor)

...sort of...

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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  WHL on Sun Mar 24, 2013 7:44 am

I doubt if it is humorous. Obama would have us pay 100% to the gov.
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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  News Hawk on Sun Mar 24, 2013 9:36 am

Somebody's got to fund ObamaCare, and those funders won't be The Takers.

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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  WHL on Sun Mar 24, 2013 10:56 am

The taxes from it already are unbelievable.
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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  WHL on Mon Mar 25, 2013 8:42 am

It gets worse. Now it is between 40 and 70% they will take from those who have more than 100 Euros in the bank. Is that as scary to anyone else as it is to me? Are we next??? You don't want to give Obama and Reid and Pelosi any ideas about taxing possibilities.
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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  News Hawk on Mon Mar 25, 2013 8:23 pm

In California, the Government calls it a "retroactive tax".

One California Obama-voter calls it "asset-seizure", and is obviously fed-up:

"While the law stipulates that I must surrender this money, I refuse to acknowledge this as a tax at all. This is not a tax. This is an asset seizure plain and simple. The term “retroactive tax” is a despicable euphemism. It is no different than when Hugo Chavez used the benign-sounding “nationalize” to describe his seizure of private property in Venezuela..."

"...I love the people of California. I love the spirit of California. I love the climate of California (both literally and figuratively). I am a Californian at heart. I was born here. I have spent most of my life here. But I will gladly play the expatriot card for a few years while I embrace my next entrepreneurial venture.

"My next company should be in New York, and so should I."
http://pandodaily.com/2013/03/25/because-of-asset-seizures-i-am-starting-my-new-company-outside-california/
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Only an Obama voter would consider a move from California to New York as an improvement!
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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  WHL on Tue Mar 26, 2013 7:22 am

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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  News Hawk on Tue Mar 26, 2013 9:16 pm


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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  News Hawk on Sat Mar 30, 2013 3:56 am

"Ten of thousands of Cypriots scrambled to get hold of what savings they could today after the island's banks opened for the first time in two weeks amid tight restrictions on withdrawals.

There were chaotic scenes outside some banks, with one branch manager in the capital Nicosia forced to placate angry customers clamouring to get in ahead of opening.

Staff had turned up for work early as cash was delivered by armoured trucks, while armed police and hundreds of staff from private security firm G4S were placed on standby over fears of a run on deposits.

Cyprus's banks have been closed while the government negotiated a 10billion euro (£8.5billion) bailout to recapitalise its ailing lenders.

As part of the deal savers with more than £85,000 will lose up to 40 per cent of their cash, a measure which has prompted fury among the cash-strapped island's wealthiest residents."

Comment on the web, based on my repeated contention that the world's banking crisis was precipitated by the CRA, which concocted the nearly-limitless might of America's toxic home-mortgaging power to fund this country's unsustainable government largess:

"The real culprits are the governments and the bankers. People get used to living with what they have until bankers run unsustainable scams so that governments can create unsustainable entitlements. Therefore getting people used to what they should not of ever had. This calamity was planned and intentional from the get go. As it serves the interest of those who want to destroy freedom and the west. But that is another subject."

Some of the photos at the link show kids standing in line with their parents.

That is a tough primer for learning socialism.


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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  WHL on Sat Mar 30, 2013 7:23 am

Can you imagine how you would feel if that happened to you. And I am very worried it could happen right here!!
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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  News Hawk on Fri Jul 04, 2014 8:21 pm

WHL wrote:Can you imagine how you would feel if that happened to you.  And I am very worried it could happen right here!!
It's happening now in Europe:



"I have gone on record that the most dangerous organization is the now French led IMF with Christine Lagarde at the helm, which has presented a concept report that debt cuts for over-indebted states are uncompromising and are to be performed more effectively in the future by defaulting on retirement accounts held in life insurance, mutual funds and other types of pension schemes, or arbitrarily extending debt perpetually so you cannot redeem. Yes you read correctly, The new IMF paper is described in great detail exactly how to now allow the private sector, which has invested in government bonds, to be expropriated to pay for the national debts of the socialist governments.

I have been warning that there is an idea that has been running around behind the curtain that the national debt of the USA could be settled by usurping all pension funds in the country. Here is a remarkable blueprint that throws all previous considerations concerning the purchase of government bonds over the cliff. The IMF working paper from December 2013 states boldly:

“The distinction between external debt and domestic debt can be quite important. Domestic debt issued in domestic currency typically offers a far wider range of partial default options than does foreign currency–denominated external debt. Financial repression has already been mentioned; governments can stuff debt into local pension funds and insurance companies, forcing them through regulation to accept far lower rates of return than they might otherwise demand.”

Already in October 2013, the International Monetary Fund (IMF), suggested the Euro Crisis should be handled by raising taxes. The IMF lobbied for a property tax in Europe that should be imposed where there are no such taxes. The IMF has advocated for a general “debt tax” in the amount of 10 percent for each household in the Eurozone, which also has only modest savings.

People are blind. They think this is authorization to go get the rich. They are going after everyone for the “rich” are tiny players in the game. People do not want to hear that. They want to think the rich can pay the bills for everyone else. That is not practical and even Julius Caesar recognized that they may be a small group, but they are the engine of the economy that creates jobs. It would have been popular for him to wipe out all the rich who he was against. But in the end, he had to solve the debt crisis by simply retroactively attribute all interest to capital in order to solve the debt crisis that led to the first civil war.

There is no discussion whatsoever of reforming the system. They are merely planning to default on savers expropriating their savings, but continue to borrow forever. Nobody is even bothering to look at the structure that simply cannot work.

Rolling Eyes


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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  WHL on Sat Jul 05, 2014 7:37 am

It's ok with the "people" to go after the "rich" since it isn't them.  But just wait until it is THEIR pensions and bank accounts the gov. starts seizing.
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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  News Buzzard on Sat Jul 05, 2014 8:00 am

Rolling Eyes Rolling Eyes Rolling Eyes Rolling Eyes 

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Re: Cyprus Runs out of Other People's Money, SEIZES Savings Acounts...

Post  News Hawk on Sat Jul 05, 2014 9:31 am

WHL wrote:It's ok with the "people" to go after the "rich" since it isn't them.  But just wait until it is THEIR pensions and bank accounts the gov. starts seizing.
Headlines like this one are putting teacher pensions at risk:

http://www.deseretnews.com/article/865597665/Recent-Utah-sex-abuse-cases-involving-teachers-leaders.html?pg=all

(And this one is from just one state).

No


.

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