Bank Theft during long weekend in Cyprus - Enforced 6.75-10% taken from all savings accounts.

[TelosianEmbrace]

An interesting article here, that amongst other things, states that this is intentional.

http://teapartyeconomist.com/2013/03...saster-begins/

I think this policy is deliberate. I think they knew this would happen. They are sending a message to the PIIGS politicians: “Bail out your own banks, or else get ready for a bank run like Cyprus got.” Their goal is to cause a bank run in Cyprus. They want to send a message to any large government that thinks it can sit on the sidelines on the assumption that the Eurozone will bail them out or bail out their banks. It won’t. It can’t. It does not have the money. Its voters will not allow it.

Then he finishes...

This indicates just how desperate the Eurozone leaders are. They pretend that there is calm. They pretend the system is not coming apart. Then they make an announcement that is rational only on the assumption that the euro experiment is coming apart.

For me, this seems to completely go against the modus operandi of the PTW. They create the system and work within its confines to rob us daily, but this move can be seen as nothing other than theft. Plain and simple. This corrupts the integrity of the whole international banking system.

[T Smith]

Posted by yiolas (here)
... I've been talking about this for months with friends and family only to be responded with a blank stare or out right ridicule.

I gather they're not laughing too hard right now...

[Anchor]

Posted by TelosianEmbrace (here)
An interesting article here, that amongst other things, states that this is intentional.

http://teapartyeconomist.com/2013/03...saster-begins/

I think this policy is deliberate. I think they knew this would happen. They are sending a message to the PIIGS politicians: “Bail out your own banks, or else get ready for a bank run like Cyprus got.” Their goal is to cause a bank run in Cyprus. They want to send a message to any large government that thinks it can sit on the sidelines on the assumption that the Eurozone will bail them out or bail out their banks. It won’t. It can’t. It does not have the money. Its voters will not allow it.

Then he finishes...

This indicates just how desperate the Eurozone leaders are. They pretend that there is calm. They pretend the system is not coming apart. Then they make an announcement that is rational only on the assumption that the euro experiment is coming apart.

For me, this seems to completely go against the modus operandi of the PTW. They create the system and work within its confines to rob us daily, but this move can be seen as nothing other than theft. Plain and simple. This corrupts the integrity of the whole international banking system.

I think it is a resource grab myself. This technique will mean that key Cypriot industries, infrastructure and resources will be privatized at fire-sale prices.

John..

[ThePythonicCow]

From Reuters:

Cyprus banks to remain shut Tuesday and Wednesday: government source

(Reuters) - Banks in Cyprus will be shut on Tuesday and Wednesday pending a decision by parliament to approve a levy on bank depositors, a government source told Reuters.

"Tuesday and Wednesday are bank holidays," the source said. A decree will be released shortly from the Finance Ministry to this effect, he said.

[skippy]

Posted by Paul (here)
From Reuters:

Cyprus banks to remain shut Tuesday and Wednesday: government source

(Reuters) - Banks in Cyprus will be shut on Tuesday and Wednesday pending a decision by parliament to approve a levy on bank depositors, a government source told Reuters.


"Tuesday and Wednesday are bank holidays," the source said. A decree will be released shortly from the Finance Ministry to this effect, he said.

I've the impression that they are working now on a plan to quiet things down and to have a solution by the end of this week. They need a couple of days more to fly-in enough paper euros to fill the banks on-time. My guess is that beginning of next week, daily life in Cyprus will be back to normal.

[yiolas]

The pictures in the link below are indicative of the real victims in this money grab. Ordinary people who live below their means in order to save and provide a better future for their families. Ordinary citizens who are not given the low 10% corporate income tax rate, who are saddled with an across the board 15% tax on interest earnings, an 18% VAT rate, an individual income tax rate of 20% - 35% and a withholding tax of 6.8%.
For common Cypriots this is not a "tax haven". The common folk are not privy to the luxury yachts and sea side villas, but who are now expected to share the burden of the follies of inept and corrupt officials and euro based technocrats .
http://photoblog.nbcnews.com/_news/2...lout-plan?lite

[yiolas]

I'm watching the live transmission from the Cyprus Parliament where they are deliberating on the Eurogroup's blackmail demands. So far it doesn't look as if the President is going to get the go ahead to sign off on them. These politicians are well aware that the people realize that these are extortionist tactics by the technocrats in Brussels.

[GlassSteagallfan]

CYPRUS: The Great Euro Bank Heist -- And 'International Bank Run'

March 19, 2013 • 10:25AM

March 19, 2013 (LPAC) — The Cyprus bailout is nothing less than the great euro bank heist with the Eurogroup, the European Central Bank, and the International Monetary Fund acting like racketeering gangsters. This became clear in the television address of Cypriot President Nicos Anastasiades. Anastasiades said the crisis was worse than the Turkish invasion in 1974. While saying he refuses to discuss who is to blame, he admitted that a gun was being held to his head by the European Central Bank, which threatened March 16 to cut all liquidity to two of the country's biggest banks if Cyprus did not sign onto the deal. That would have caused a "disorderly" default and "our potential coercion to exit the Eurozone," he said. It was later reported that the IMF also demanded that the money be seized from bank accounts.

Anastasiades then offered the fleeced bank depositors shares in the future earnings from natural gas sales. Of course, it is not clear when, if ever, these gas sales will materialize. He claimed the deal avoids the need to cut pensions and salaries of government workers.

The Prime Minister also claims that the deal could be renegotiated, so bank accounts above EU100,000 would take an even bigger portion of the pain. But this will take time. The government is considering extending the bank holiday until Thursday, which means normal citizens have no access to cash withdrawals.

The Parliament debate on the bailout plan was delayed for a second time and will be held on March 19. The opposition which controls 25 seats in the 56 seat parliament say they will vote against it. The government only controls 28 seats and some government MPs are wavering. Meanwhile Cypriots can not take any cash our of their accounts. It is a bank holiday today and the ATM machines were empty by noon on Saturday, March 16.

The fact that seizing money from deposits of less than EU100,000, which are insured under national EU laws, is of questionable legality to say the least. Sharon Bowles, Member of the European Parliament for the British Liberal Democratic Party, and head of the economic affairs committee challenged the grabbing of depositors savings. "It robs smaller investors of the protection they were promised. If this were a bank, they would be in court for mis-selling. The lesson is that the EU's single market rules will be flouted when the Eurozone, European Central bank and the International Monetary Fund say so," Bowles is quoted in the Financial Times as having said.

Another British MEP, Tory Daniel Hannan, warned in his blog in the Daily Telegraph, that the Eurogroup has created an "intentional bank run" and that "Cyprus is not a one-off, but a grisly forerunner" of what can be expected in the future, pointing out that Brussels had crossed the red line of grabbing insured deposits.

http://larouchepac.com/node/25899

------------------------------------

In other news:

Icelandic Parliamentary Committee Unanimously Passes Bank Separation Motion
http://larouchepac.com/node/25906

[yiolas]

The cyprus parliament has voted a defiant "NO" to the threats of the eurogroup.

[MorningSong]

A tweet at AP:

Cyprus lawmakers reject bank tax bill with zero votes in favor, 36 against, 19 abstentions

https://twitter.com/AP

[Watching from Cyprus]

36 votes against, 19 abstentions, 0 voted in favour.. yippiiii.... here we go folks :-)

[RMorgan]

Posted by Watching from Cyprus (here)
36 votes against, 19 abstentions, 0 voted in favour.. yippiiii.... here we go folks :-)

That´s great news.

However, how they are going to prevent a massive bank run now?

I bet most people will immediately withdraw their money as soon as they have access to their accounts.

Raf.

[ThePythonicCow]

Posted by RMorgan (here)
However, how they are going to prevent a massive bank run now?

I bet most people will immediately withdraw their money as soon as they have access to their accounts.

Perhaps that's the plan.

[Cidersomerset]

This has set a precident, there is speculation Italy maybe next.....


Farage: EU wants to steal money from Cypriots bank accounts

Source: https://youtube.com/watch?v=JMf_KwQ2Xlk

Published on 19 Mar 2013


Taking the bailout model to extremes - the EU has given Cyprus an ultimatum -
either force savers to save banks, or go bankrupt. United Kingdom Independence
Party MEP Nigel Farage gives his perspective on the deposit levy and Cypriot
parliament vote.


--------------------------------------------------------------------------------------

'Cyprus levy tipping point for Eurozone between safety & panic'

Source: https://youtube.com/watch?v=7FBPleqV_40

Published on 18 Mar 2013


Cyprus may make its citizens shoulder a 12.5-percent crisis tax on savings larger
than €100,000, while reducing the tax for smaller deposits to 3 percent, Reuters
reported. Panic ensued as Cypriots rushed to withdraw savings. Global markets
analyst Patrick Young says that EU's proposition to encroach on personal as well as
foreign bank deposits deeply endangers the banking system.

--------------------------------------------------------------------------------------------
BBC online...

19 March 2013 Last updated at 19:00

.Cyprus MPs reject EU-IMF bailout tax on bank depositorsComments (825)
Protesters gathered outside the Cypriot parliament to



Cyprus' parliament has rejected a controversial levy on bank deposits, proposed as
part of an EU-IMF 10bn-euro (£8.7bn; $13bn) bailout package.

No MPs voted for the bill, with 36 voting against and 19 abstaining.

http://www.bbc.co.uk/news/world-europe-21842966

[Hervé]

I was reading this article on SOTT.net (http://www.sott.net/articles/show/24...Greek-Property) about Greece selling properties, etc... but what interested me most was the comment to this article:

Greece Has More Oil Than Iran. By: Highland Fleet Lute

The southern part of Crete apparently has more oil than Iran! Speaking on STEP FM in Canada, Professor Antonis Foskolos from the Department of Mineral Resources and Engineering of the Technical University of Crete. said that "we committed ​​a crime back in 1997 when they stopped investigations."

Foskolos said that the hydrocarbon fields under Crete are immense with at least 22 billion barrels of oil. The Herodotus Basin he said has some 14 to 15 billion barrels of oil, while there are only 400 million barrels in Patras. He also noted that the deposits of natural gas recently found in Cyprus are still "small" because there are at least three other layers that have yet to be investigated. Cyprus has four layers.. said Foskolos... but the aforementioned basin under Crete has "7 layers"!

The Professor said that once the oil begins being exploited it will all be exported, since the whole area Crete has an additional 22 billion barrels of oil totaling some 38 billion barrels! "We are at the level of Iran in relation to stocks," (meaning oil reserves) noted Foskolos and concluded by saying that in 2016-2017 this development, and these riches will change the face of Greece. This "will change the strength of the country. "

In an earlier report on hellasfrappe Foskolos had said that the two areas that in his professional opinion have significant amount of deposits are nine mud volcanoes southeast of Crete, in the Greek Herodotus basin. More precisely, the mud volcanoes in this area contain high amounts of hydrocarbon reserves, primarily natural gas, of approximately 1.5 trillion cubic meters! (Click here for that story)
This is comparable with what has been found in the Nile Delta, the Caspian Sea (deposit Shah Deniz), Norway and elsewhere.

In his expert opinion, the south eastern basin of Herodotus in Crete has reserves that surpass two trillion cubic meter mark. This is a vast amount and can only be compared to what was discovered in the Nile Delta (by SHELL, BP) . He says the sediments are of the same origin and geological formations are very similar. In all so far, it is estimated that there are 3.5 trillion cubic meters of gas located there, which can be equaled to 20-22 billion barrels of oil!

The benefits for Greece are obvious. Foskolos believes that the exploitation of these deposits will create a total of 300,000 jobs. At least 100,000 in the primary sector and 200,000 jobs in the secondary sector, while all revenue can be reaped by the Greek state in 25 years amounts to 437 billion US and this is not counting the profits from the pipeline that will transport the natural gas to Europe ( at a length of 1000 km at a cost of approximately $ 20,000 / km, or 25 billion US dollars.)

Other experts agree with Foskolos as well. A separate report on the Chaniotika nea site said that Professor Giannis Makris says that there are two potential hydrocarbon reserves southwest of Crete, where sediment thickness frin 10 to 12 kilometers, and there are hydrocarbon reserves in Western Crete where there are 3 fields of mud volcanoes.

.... and thousands of tons of gold, uranium, osmium and and other rare minerals, apparently.

"Whenever we attempted to start bidding processes that would allow corporations to create infrastructure for the extraction of the resources we received major pressure to abandon the efforts and warnings that 'nothing will materialise' no matter what we do".....

https://www.youtube.com/watch?v=x8M-...eature=related
[Link]

This, together with Tunisia, Egypt, Libya, Syria... reminded me of what's in the Angelo Roncalli's prophecies:

"Great Flash in the Orient. You will not hear the thunder, it too will be unexpected.
This will happen when in the Orient a leader will die and in the West, a leader will be killed. South of Luther.


"Refuse the assassins who will turn themselves in, refuse those who will be presented. The murderers are in Europe. They want the Mediterranean Sea. Then there will be the murder with no assassin.


"The time has nurtured a troubled spirit, in the shadow of the red and black cross, unbeknownst to all, daughter of the fugitives from Nuremberg.


"She hatched the crime against herself. There are those who renounce life, for the love of evil."

**********************************************************

The last countries standing up against the IMF firing squad were Libya, North Korea, Venezuela, Cuba and Iran...

So, what do you guess the real plan is?

Perhaps... maybe... prevent other Libya or Venezuela to rise to the plate? By ensuring their mineral assets are securely hypothecated with triple or quadruple mortgages... maybe?

[yiolas]

This is a great turn of events ! The politicians have sided with the will of the people.
A few things brought up by various speakers before the vote.

1. The new president's first meeting with the euro group was no way to treat another member state.
2. The surprise unprecedented ultimatums given to Cyprus were immoral and unacceptable
3. The realization that there is an agenda at play, which includes the privatization of utilities and the ultimate goal of control over Cyprus's natural gas reserves.
4. The double standards exhibited regarding Cyprus's goal of becoming an international banking center, which includes attracting Russian investments, deemed by others as "dirty money", which Germany has far more such investments and no one is accusing them of money laundering.
5. Cyprus has many friends around the world who are willing and able to help.
6. The Cypriot people will not make a run on the banks if a clear solution to the debt problem is presented to them.

The Cypriots have made a conscious decision to be David in the face of Goliath. As the last speaker said, " May God Help Us".

[oceanz]

How can "haircut" not equal theft?

H ere
A ll
I ncome
R eceived
C orrupt
U nities
T thank you

[KiwiElf]

The Cyprus situation has garnered outrage here in NZ and Prime Minister John Keys hinted at "things to come" on a television interview last night, stating that, "in an emergency situation, our government could do the same thing...".

This is what the opposition party had to say about it:

NZ First calls for guarantee to protect NZers savings
FuseworksBy Fuseworks Ltd. | Fuseworks – 1 hour 57 minutes ago

http://nz.finance.yahoo.com/news/nz-...3Rpb25z;_ylv=3


New Zealand First is calling for the introduction of a bank depositors’ guarantee scheme to protect the savings of blameless Kiwis during any financial crisis.

The policy would provide a government guarantee for deposits of up to $100,000 in New Zealand-owned banks.

The call comes as the Reserve Bank moves to adopt measures that would, under certain financial circumstances, allow it to take a portion of bank deposits from New Zealanders accounts.

A similar policy has caused public outrage and panic in Cyprus as that country works towards a Eurozone-endorsed bailout.

Rt Hon Winston Peters says the possibility that a New Zealand financial crisis and subsequent bailout could hit the savings of innocent, hard-working mums and dads is not the Kiwi way.

"Why take money off innocent New Zealanders who have simply used a bank in which to store their hard-earned money?

"Essentially that would see innocent New Zealanders being financially penalised for something that wasn’t of their making.

"That sort of scenario is never acceptable in a court of law so why make it part of the Reserve Bank’s policy," says Mr Peters.

[Taurean]

Looks like the UK is not expecting the Cypriot Banks re-opening,

MoD flies emergency cash to Cyprus for British personnel


The UK has sent 1m euros (£850,000) to Cyprus as a "contingency measure" to provide military personnel with emergency loans.

http://www.bbc.co.uk/news/uk-21847013

I would have thought a great dollop of QE is just what the island doesn't need right now !

[Watching from Cyprus]

Hi All,

Dear Friends

Report from Cyprus; Most people are happy today, and that is very good, although extreme difficult days are in front of us. The German Finance Minister says that the 2 largest Banks (Cyprus Popular Bank & Bank of Cyprus) will never open again if the bailout is not concluded, since both banks have been guaranteed and supported by ECB (the european central bank), so that meant the support/life line has hereby been cut.. That is some kind of threat... Lets see if the Russians comes in .. I think they will.

We surely live in interesting times my friends

Love ya all
Peter