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

[Watching from Cyprus]

Dear All,

This morning (Saturday) it was announced that all savings accounts will be enforced debited/taxed 6.75-10% estimating a total amount of EUR 5.8 billion for the government coffers (ha ha for the banks). Here in Cyprus there is a long weekend due to green Monday coming so the timing they got right.

http://www.cyprus-mail.com/bailout/savers-forced-bear-costs-cyprus-bailout/20130316

All of you please make sure this goes out to the world since there is very little coverage till now from other countries and the news that are out from outside Cyprus are playing the significance of this down..

What would you think if your bank just confiscates 6.75% from your account .. almost 10% if you have above 100K ???? This is outrageous, and i believe completely illegal.

Wait and see what will happen .... So much Russian moneys are in Cyprus, so my prediction is that we will see the Cyprus banks soon announce they cannot continue business, and the Russian banks standing by will swallow them up so the billionaire depositors stay unharmed (they have already been notified .. is my guess .. otherwise there would be no deposits left in Cyprus banks from the Russians)

Love you all and keep an eye on the development here starting from Tuesday where the bank runs will start.

Peter

[iceni tribe]

Savers forced to bear costs in Cyprus bailout



The eurozone struck a deal on Saturday to hand Cyprus a bailout worth €10 billion, but demanded depositors in its banks forfeit some money to stave off bankruptcy despite the risks of a wider bank run.

Cyprus becomes the fifth country after Greece, Ireland, Portugal and Spain to turn to the euro zone for financial help in the wake of the region's debt crisis.

In a radical departure from previous aid packages, eurozone ministers forced Cyprus' savers, almost half of whom are believed to be non-resident Russians, to pay up to 10 per cent of their deposits to raise almost €6 billion.

more here

http://www.cyprus-mail.com/bailout/savers-forced-bear-costs-cyprus-bailout/20130316

[Watching from Cyprus]

I would like to point out that this is already enforced so it is not that they are going to do this... No, they have already done it, the bastards.

[passiglight]

what a shame,, i love Cyprus,,,, my hearty calls me there often....


i was living there during the build up to them joining the euro club,,, Cypriots were sold a dummie....

i have heard there is violence on streets but it is only unconfirmed rumours.

i know there will be trouble,,,,,beautiful country bust just beneath the veneer is the biggest examples of cabal activity..

hoping you'll update,, cosmic

[indigopete]

For me, this is the best commentary on the situation...http://www.zerohedge.com

[Flash]

A precursor for the rest of the planet. Cypriots/Russian reactions will dictate how they will proceed elsewhere to steal the money.

[Anchor]

Did anyone note this line in the article linked in the OP

> Depositors will be compensated by equity in the banks

So, they are taking a haircut from the depositors, but they are giving them equity in the banks who are taking the money. Effectively this is a mandatory loan from the depositors.

I dont know how this is possible - I dont think this could be done in Australia, the Australian Bank Act does have the provisions to confiscate Gold though.


Also from that article.

> Cyprus may be required to privatise the Cypriot telecoms company, the electricity company and the ports authority.

(This could bewhat it is all about....)

-- update: I now see how they pulled this off, the government are calling it a TAX and they have the right to set taxes

[Watching from Cyprus]

did anyone note this line in the article linked in the op

> depositors will be compensated by equity in the banks

so, they are taking a haircut from the depositors, but they are giving them equity in the banks who are taking the money. Effectively this is a mandatory loan from the depositors.

I dont know how this is possible - i dont think this could be done in australia, the australian bank act does have the provisions to confiscate gold though.


Also from that article.

> cyprus may be required to privatise the cypriot telecoms company, the electricity company and the ports authority.

(this could bewhat it is all about....)

The equity is shares @ eur 0.21 per share (in Bank of Cyprus).. Just wait and see the share price by the end of next week when the bank runs are on.. It is down right criminal and a "bank robbery". Revolution is starting here in Cyprus. Be prepared .

Privatizing Semi Government institutions is a part of it yes, plus the gas reserves found which the b/wankers want control of.

It will happen in Australia as well.. Dont know when but surely it will come to all westernized countries and then spreading to all other countries.

[GarethBKK]

This from Jim Sinclair:

"What's just happened is the IMF has backed up, lauded, supported, and publicized, as if it were a victory, the taking of 10% of what really turns out to be 80% of Russian 'black money.' Russian 'black money' is KGB money, now in business. The leader of Russia (Putin) was a former KGB official. Who's money do you think they have taken? This is the biggest mistake the IMF could possibly have ever made."

http://www.jsmineset.com/

[KiwiElf]

Talk about an effective way to incite rioting! :tsk:

[MorningSong]

I read about this this moring.. here is a bit of an update:


Cyprus parliament delays vote on bank deposits tax
Mar. 17 4:52 AM EDT


NICOSIA, Cyprus (AP) — An official says Cyprus' parliament had postponed the debate and vote on the controversial levy on all bank deposits that the country's creditors demanded in exchange for €10 billion ($13 billion) in rescue money.

Parliamentary official Antonis Koutalianos said the vote that was scheduled for Sunday afternoon has been pushed back to Monday, but the exact hour of the vote has yet to be fixed.

The decision to impose the one-time levy of 6.75 percent on all deposits under €100,000 and 9.9 percent over that amount, has triggered scorn from Cypriot politicians who condemned it as unfair, bringing in doubt its approval in parliament.

It marks the first time that the 17 eurozone countries and the IMF have dipped into people's savings to finance a bailout.

http://bigstory.ap.org/article/cyprus-parliament-delays-vote-bank-deposits-tax

[MorningSong]

Here's something from yesterday:


Cash machines EMPTIED across Cyprus and 60,000 British savers face losing MILLIONS after £8.7bn EU bailout imposes tax of up to 10% on all bank accounts

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 about £1.7b of deposits on island and could lose up to £170m
Parliamentary official: Vote scheduled for today pushed back to tomorrow
G. Osborne: This is what happens if you don't show you can pay your way

By Simon Watkins and Alex Hawkes

PUBLISHED: 16:23 GMT, 16 March 2013 | UPDATED: 10:49 GMT, 17 March 2013

Up to 60,000 British savers are to lose thousands of pounds each after European finance chiefs ordered an unprecedented raid on personal bank accounts.

Expats and UK troops based in Cyprus will have their savings decimated as part of a painful bid to bail out the bankrupt island.

Britons have about £1.7 billion of deposits in Cyprus and could lose up to £170 million.

The Cypriot government has agreed to seize up to ten per cent of savings and use the money to bail out the island’s crisis-hit banking system.

The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.

Restrictions have been imposed to stop people emptying their accounts or moving their money out of the country following the deal with other eurozone finance ministers, under which ordinary citizens’ deposits will be directly raided for the first time.

One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’

And one of the 3,000 British service personnel based on the island said: ‘I stand to lose €4,000 [£3,500] We’ve tried to save quite hard while we are here – that’s been thrown back in our faces.’

....

But financial experts said the move – designed to stop Cyprus crashing out of the euro, potentially destroying the currency – would send shock waves through the eurozone.

If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the banks.

Economist Howard Archer from IHS Global Insight said: ‘It is an alarming precedent to hit the man in the street. As much as they say this is a one off, people will say if they can do it once they could do it again.’

Tory MP Douglas Carswell added: ‘We should all be extremely worried about this. It shows that ordinary Europeans are being fleeced by the Continent’s elite in order to rescue foolish banks. Why would you risk putting your money in Greek, Spanish or Portuguese banks after this?’

The European Central Bank said Britons have £1.7 billion deposited on the island.

British expats were stunned by the news, with many left high and dry by the restrictions on accounts.

Cash machines had been working, but many ran out of notes because of the panic withdrawals. Tomorrow is a public holiday in Cyprus, too, so savers will have to wait until Tuesday until they can access their money.

Andy Georgiou, 32, who grew up in Liverpool, said: ‘We are struggling. We can’t access money and we need it to buy petrol and food. It’s appalling. All without any warning.’

Sean Chamberlain, a 39-year-old writer from Devon who now lives in Cyprus, said: ‘There are a lot of people who are very angry. Everyone was furious, feeling absolutely betrayed by yet another apparently incompetent government.

‘And now they’ve done it once, what’s to stop them deciding to do it again next week? If there’s a run on the bank, that’s a terrifying thing.’

Shirley Brooks, 61, originally from Manchester, stands to lose €18,600. She said: ‘I am extremely angry. This is our retirement money, and there was no warning that this was coming. I don’t think we should have to pay anything as we did not cause the problems in the economy.’

Her sentiments were echoed by former Army officer Graham Smith, who moved to Cyprus from Dundee five years ago. ‘I don’t believe we Brits should have any money taken,’ he said. ‘We have not contributed to the bankruptcy. If anything, all we’ve done is contribute to the economy.’

He stands to lose about €2,000, as does financial adviser Steve Carr, who is originally from York but has been living in the coastal city of Limassol for the past 24 years.

He said the supposed solution to the island’s woes could make matters worse: ‘When the banks reopen, people will start moving their money out of Cyprus because they don’t want this happening again. This could create a run on banks, which would be a very bad thing for Cyprus.’

......

Read more here:

http://www.dailymail.co.uk/news/article-2294388/ATMs-emptied-Cyprus-savers-learn-10billion-euro-bailout-agreement-includes-levy-bank-accounts.html#ixzz2Nmae1JSN

[Anchor]

Earlier I was wondering how they could do this, now I see they are calling it a TAX, and countries have the right to set their own tax rates.

[Warlock]

http://www.reuters.com/article/2013/03/17/us-cyprus-parliament-idUSBRE92G03I20130317

Warlock

[Deega]

Thanks Watching from Cyprus, hmm!, to bad for the Cyprus people saving, 9.9% of their saving to service the debt!, hope this doesn't happen to Canada, but who knows.

Worst case than that happened, after WWII, Russia seized all the saving of their people to refinanced rebuilding. Similar stories must have been lived by people in other countries over the years.

It's awful, citizens savings of a country have to be used because the administration of a government didn't do their job responsibly.

[yiolas]

http://www.bbc.co.uk/news/world-europe-21814325

Cyprus is being railroaded by the IMF, World Bank and the finance ministers of the E.U. otherwise known as TROIKA. They met with the new of president of Cyprus over the weekend and threatened to foreclose on the two biggest banks in Cyprus if the Central Bank of Cyprus did not fork over all individual and corporate bank deposits over 100,000 Eur.

Cyprus has enjoyed large foreign investments, especially from Russian companies and individuals due to its low company income tax rate. A compromise was reached where all savings accounts over 100,000 Eur will be levied with a one time tax of 10% and all accounts below that will be taxed 6.75% percent. This was agreed over night on the morning of Saturday. This agreement still needs to be voted on by the Cyprus parliament.
Banks are closed on Saturdays and Sundays here. People tried to withdraw funds from the ATM machines but they were soon depleted or jammed because of all of the traffic. My daughter tried transferring funds between accounts on line but was unable to. Monday is an official holiday in Cyprus. The banks are due to open on Tuesday, but there has been talk that they won't. Everyone I know is planning to attempt to take their money out of the banks as soon as they open. This is very serious.

What is happening in Cyprus is unprecedented. They are actually going to take money out of people's bank accounts to bail out the banks and the government !! This is a text book conspiracy against the hard working people of Cyprus. I saw this coming a couple of years ago when it was confirmed that there are large natural gas and oil deposits right off the Cyprus coast. The rigs are being built and drilling should commence in a couple of years. You know where I'm going with this.

[Lifebringer]

it's wrong on two accounts. 1. They weren't working for the people, therefore were there under fraudulent purposes. 2. They put the crash into play, therefore whoever paid for their election to be re-elected, should have their taxes, as FDR did em. At least take them to Kennedy levels, as they have done this "to" the people, NOT "for, of or by" the people's/governmentrules.

They should all be in jail for misappropriation of legislative laws to further indebt the country.

[ghostrider]

criminals, how would they like me just taking money from them to pay my mismanagement of my duties ???

[yiolas]

The president of Cyprus just spoke to the nation on television. He spoke of the hard bargaining tactics used by our European "partners". He explained that the alternative of not bailing out the banks in this way would be catastrophic for Cyprus now and for generations to come. The proposal on the table now is that any funds taken from the public's bank accounts will be "reimbursed" in the form of stocks in the respective "failing" banks. Furthermore, as an incentive for people not to withdraw the balance of their money from the banks after this fiasco, arrangements are being made to offer people stocks in future gas and oil revenues expected to be realized in the next few years from Cypriot off shore drilling sites. The stocks will be equal to the interest earned over the next 2 years from each person's savings account.

By the way, the banks got themselves into this trouble in the first place by investing in the "ill fated" Greek bonds which were devalued by at least 60% last year !

[Carmody]

I've no doubt that there will be bodies found.

No doubt at all.

There are some people you just don't screw around with.

And that is the best you can hope for.

All other possibilities are much more ugly.

[MorningSong]

Thanks, Yiolas, my friend. Do keep us updated on how this rolls out..... so sorry this is happening and I hope you will be ok!

[Fractalius]

An equinox plan with a public holiday 3 day weekend,
An announcement with a preplanned buffer of time with the banks closed.
But then the EU lot are all scared for their own hides to an extent.
Their IMF WB pals guiding them through what could be them one day.
See once the crowds are foaming at the mouth, being afraid of being throwen to them is a lot easier.
This will be like a little demonstration aimed at keeping certain people in line in time to come.

This will show some more people what sort of world they really live in.
How fabricated text and numerals are merciless tyrants, not tools for humanity.

[humanalien]

That will be happening to all the people in the uk, not
just cyprus. People better start emptying out their bank
accounts before they get robbed.

The US is next in line.

[humanalien]

Yes and it's coming the the rest of the EU, to
and eventually, america.

It's time to empty out your bank accounts, right now..

[yiolas]

That will be happening to all the people in the uk, not
just cyprus. People better start emptying out their bank
accounts before they get robbed.

The US is next in line.

That's right. I saw this coming when for some reason the economy here began it's downturn about the same time that vast amounts of natural gas deposits were confirmed here about a year ago. Knowing what I knew about how developing economies like Cyprus are hood winked by the international banksters and the dark cabals, I began warning my friends to get out of the commercial banks or at the very least go to local coop banks, which coincidentally are the only banks not in trouble here.

The way I see it, this can happen anywhere. Of course our deposits are still guaranteed by the central bank, but there is nothing to stop these criminals from stealing from us to save themselves. It was no coincidence that the meeting with the international banksters was held on a Friday afternoon right before a 3 day holiday weekend. The whole country is being held hostage with no access to their bank accounts until banks open again on Tuesday. My advice to any one living in a country with financial problems is to not trust what the officials may tell you. Do not keep any money in the bank because you may find yourself high and dry one day.

I share my home with my elderly parents, my daughter and her fiance as well as our 4 dogs and 4 cats. I've been out of work since last September and with the current turn of events, my prospects are even bleaker. I didn't have any money in the bank for these criminals to take, but everyone else in my family has been affected. Fortunately though, we have gas in our cars, sufficient food stocks, chickens and an abundant food producing garden.

[Flash]

there is actually 3 thread going on this topic.

[yiolas]

bEupDM-kfhA

[Muzz]

I've merged 3 threads all discussing the same issue.

[KiwiElf]

And all hell will break loose ;)

[Tesseract]

When interest rates are suppressed to below the rate of inflation savers are essentially robbed of money from their accounts - even those with less than 100K. The theft is just surreptitious enough that people don't get mad about it.

[yiolas]

I was just wondering if the the country's gold reserves are the next to go. 13.9 tons at last count.

http://www.24hgold.com/english/stat_country_detail.aspx?titre=central%20bank%20gold%20reserves%20%28in%20ounces%29&pays=Cyprus&deid=19576B1670

[Violet]

People can't get out their money and they can't use pc banking to access their money either. Everything has been frozen.

Wow.

[GlassSteagallfan]

He’s BACK… (in other news, Italy contemplates a 15% “tax” on Italian bank accounts)



http://www.youtube.com/watch?v=K5R2JyU_MKg
http://www.youtube.com/watch?feature=player_embedded&v=K5R2JyU_MKg


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

Current financial crisis predicted in 1981 movie Rollover


http://www.youtube.com/watch?v=m1aQ-XGWors&feature=player_embedded#!
http://www.youtube.com/watch?v=m1aQ-XGWors&feature=player_embedded#!

[Watching from Cyprus]

Thanks Watching from Cyprus, hmm!, to bad for the Cyprus people saving, 9.9% of their saving to service the debt!, hope this doesn't happen to Canada, but who knows.

Worst case than that happened, after WWII, Russia seized all the saving of their people to refinanced rebuilding. Similar stories must have been lived by people in other countries over the years.

It's awful, citizens savings of a country have to be used because the administration of a government didn't do their job responsibly.

Hi There.. It has not been approved by parliament yet.. the meeting was set initially for yesterday Sunday, and then moved till today Monday 16;00 hours, and now it is postponed again till tomorrow Tuesday, so in fact it will be illegal for them to take the money from the accounts tomorrow Tuesday morning as first announced, since it will not be approved of. This again means that if the banks do not open Tuesday morning (today Monday is a bank holiday) which i think is most certain, people will be even more desperate and withdraw everything in the banks on the first given opportunity.. THERE IS NOT ENOUGH CASH IN THE BANKS, so this is check mate.. No matter if they ease the taxes for lower deposits.. too late.. Dominoes will now fall.

Love
Peter

[Watching from Cyprus]

there is actually 3 thread going on this topic.
Yes and thanks for helping these to be moved. This one is the first thread.
Peter

[Watching from Cyprus]

I was just wondering if the the country's gold reserves are the next to go. 13.9 tons at last count.

http://www.24hgold.com/english/stat_country_detail.aspx?titre=central%20bank%20gold%20reserves%20%28in%20ounces%29&pays=Cyprus&deid=19576B1670

Probably but 13.9 tons are only worth 700 million dollars, so peanuts

[RMorgan]

Listen to me.

Next step is to freeze all saving accounts, to prevent people from taking their money out of the banks, which would cause massive inflation.

It´s happened in Brazil before; The same thing. Hundreds of thousands of people went bankrupt because their accounts were frozen by the government.

This thing is going to spread all over Europe; Take your money out of the bank before it´s too late.

Italy is already planning to do the same thing:

http://www.prisonplanet.com/banking-chief-calls-for-15-looting-of-italians-savings.html

Raf.

[SilentFeathers]

Listen to me.

Next step is to freeze all saving accounts, to prevent people from taking their money out of the banks, which would cause massive inflation.

It´s happened in Brazil before; The same thing. Hundreds of thousands of people went bankrupt because their accounts were frozen by the government.

This thing is going to spread all over Europe; Take your money out of the bank before it´s too late.

Italy is already planning to do the same thing:

http://www.prisonplanet.com/banking-chief-calls-for-15-looting-of-italians-savings.html

Raf.

This could really spiral out of control.....panic could cause this to spill over into the US in a matter of days, if not hours.

[SilentFeathers]

I also see that they have completely shut the banks down there until Thursday?

http://www.guardian.co.uk/business/2013/mar/18/eurozone-crisis-cyprus-bailout-savers-markets

[Violet]

Listen to me.

Next step is to freeze all saving accounts, to prevent people from taking their money out of the banks, which would cause massive inflation.

It´s happened in Brazil before; The same thing. Hundreds of thousands of people went bankrupt because their accounts were frozen by the government.

This thing is going to spread all over Europe; Take your money out of the bank before it´s too late.

Italy is already planning to do the same thing:

http://www.prisonplanet.com/banking-chief-calls-for-15-looting-of-italians-savings.html

Raf.

Raf, this is not the next step, it's already happened. I saw it on the news today. Nobody can get to their savings accounts anymore. PC banking has also (temporarily) been inactivated.

Unseen.

[giovonni]

One can almost sense this was a premeditated (exploratory) 'testing of the waters' (via TPTB), upon this contained and isolated island state. i would image all the worlds governments and financial institutions are fixed upon (the possibilities attached too) this very blatant and illegal feast.

:hungry:

[RMorgan]

Listen to me.

Next step is to freeze all saving accounts, to prevent people from taking their money out of the banks, which would cause massive inflation.

It´s happened in Brazil before; The same thing. Hundreds of thousands of people went bankrupt because their accounts were frozen by the government.

This thing is going to spread all over Europe; Take your money out of the bank before it´s too late.

Italy is already planning to do the same thing:

http://www.prisonplanet.com/banking-chief-calls-for-15-looting-of-italians-savings.html

Raf.

Raf, this is not the next step, it's already happened. I saw it on the news today. Nobody can get to their savings accounts anymore. PC banking has also (temporarily) been inactivated.

Unseen.

I didn´t know about that, mate. Thanks for the info.

Of course, this is the logical thing to do, otherwise, everyone would immediately withdraw their money and total financial chaos would be unleashed.

So, my advice is still the same to anyone who lives in the more financially unstable Euro countries; Withdraw your money asap before it´s too late. I´m serious about that, really. This thing can grow out of control in just a few days.

You have no idea of the mess caused when the Brazilian government froze all savings accounts for 18 months, in 1990.

Raf.


One can almost sense this was a premeditated (exploratory) 'testing of the waters' (via TPTB), upon this contained and isolated island state. i would image all the worlds governments and financial institutions are fixed upon (the possibilities attached too) this very blatant and illegal feast.
:hungry:

This is very possible indeed. You can expect this to spread all over Europe.

[Flash]

Listen to me.

Next step is to freeze all saving accounts, to prevent people from taking their money out of the banks, which would cause massive inflation.

It´s happened in Brazil before; The same thing. Hundreds of thousands of people went bankrupt because their accounts were frozen by the government.

This thing is going to spread all over Europe; Take your money out of the bank before it´s too late.

Italy is already planning to do the same thing:

http://www.prisonplanet.com/banking-chief-calls-for-15-looting-of-italians-savings.html

Raf.

Very good article from Prison Planet RMorgan. Thanks.
THey mention that Cyprus should do like Iceland. I totally agree. Why aren't they?

part of the article:


“A bank account is not a bond or a stock or any sort of investment. This seems to be lost on many people. A bank account is the private property of a citizen or a corporation and does not belong to the government or at least that was the supposition up until now in Europe.”

Secondly, the doomsday proclamation about Cyprus collapsing if the government is not allowed to loot private bank accounts is merely a cover story to justify what represents a brazen act of mass financial rape.

Instead of protecting the bankers responsible for the crisis while pillaging the people who bear no responsibility whatsoever for the debt, Cyprus should be following in the footsteps of Iceland.

Instead of bailing out bankers, Iceland arrested them. Instead of targeting its population with brutal austerity measures, Iceland paid off people’s underwater mortgages. Iceland also allowed people to pay off debts in foreign currency, which were declared illegal, with the devalued krona.

The result was that Icelanders had more money in their pocket, reinvested it into the economy and now the country has enjoyed a miracle financial turnaround.

The Cypriot government has seemingly chosen a different option – selling out its people to the gaping jaws of the European Union and the IMF and setting the stage for years of economic turmoil, civil unrest and dependency on a financial dictatorship which benefits not from stability but from sustained chaos.

[giovonni]

will share this here...

Crossing The Line

Published on Mar 18, 2013

The Russian leadership has lashed out at Cyprus' plan to tax bank deposits. President Vladimir Putin called the initiative 'unfair', while Prime Minister Dmitry Medvedev drew comparisons with illegal forfeit - READ MORE http://on.rt.com/96zepx


http://www.youtube.com/watch?v=4i8Nyb5MDRA&feature=em-uploademail

[SilentFeathers]

This is coming out of the Bank of England today...

"We now believe that the economy is set for a recovery over the course of the next year or so."
http://www.chicagotribune.com/business/sns-rt-us-britain-boe-mccaffertybre92h066-20130318,0,5040368.story

I suppose this is suppose to make every one feel better huh?

[conk]

Plans such as this are in play in the USA. Don't think for a second it isn't being considered and may be implemented at the later stages of collapse.

[Violet]

I couldn't immediately find any English articles confirming what I saw on the news, but here are some Dutch articles that you can run through Translate:

http://www.demorgen.be/dm/nl/3324/Financiele-crisis/article/detail/1598124/2013/03/17/Betalingsverkeer-op-Cyprus-stilgelegd-na-bank-run.dhtml

http://www.powned.tv/nieuws/buitenland/2013/03/run_op_banken_cyprus_na_beslui.html

Apparently everything was frozen on command of the president because people were massively transferring their money. All transactions, also the programmed ones have been frozen.

[SilentFeathers]

Russia's already t'd off about being forced in to a proxy war concerning Syria, now they are being ripped off by the billions?


Russian oligarchs stepped in to condemn the move. Writing in the Kommersant daily newspaper, Mikhail Prokhorov, a metals magnate turned politician, warned that Europe "has opened a Pandora's box, creating a dangerous precedent in deciding the problem of the capitalisation of the banking system in problem countries".

"It's dangerous if only because it encroaches upon the foundation of Western civilisation: the sanctity of private property," Prokhorov said, noting that he held no money in Cypriot banks. "We lived through something similar many times in Soviet days, when the authorities carried out confiscatory monetary reforms. Everyone knows how that ended."
http://www.guardian.co.uk/world/2013/mar/18/russia-unfair-cyprus-bank-levy

Probably would be wise to keep an eye on Russia.....it's not safe to corner a rattlesnake and start poking it with a stick...

[Flash]

You are right Silentfeather about cornering any animal, however I am not sure at all that the rattlesnake is Russia in these times - sounds more like Europe and America are.

The russian magnate who became politician compares it to communist policies under the communist regimes, and he is right.

[sheme]

I can remember when Russia banned the 50 and 100 Ruble , It is a bit rich for them to protest about this.

http://www.themoscowtimes.com/opinion/article/why-russians-and-the-world-dislike-the-ruble/471793.html

[SilentFeathers]

You are right Silentfeather about cornering any animal, however I am not sure at all that the rattlesnake is Russia in these times - sounds more like Europe and America are.

Change "rattlesnake" to "Grizzly Bear" and mix a Grizzly Bear with a Dragon :)


Chinese leader Xi Jinping will pay a state visit to Russia on March 22-24 at President Vladimir Putin's invitation, the Kremlin press service reported on Monday.
http://rbth.ru/news/2013/03/18/chinese_leader_to_visit_russia_on_march_22-24_-_kremlin_23961.html

[yiolas]

Thanks Flash, yes I agree. The Islandic model would have been perfect for Cyprus. Infact I've been talking about this for months with friends and family only to be responded with a blank stare or out right ridicule. Unfortunatley, Cypriots have wanted to be part of Europe for so long and so badly, they cannot comprehend striking out on their own like the Islandic people did. So here we are just waiting for the inevitable, without a definate opening date for banks, available funds in credit cards and current accounts dwindling and no way of transfering funds. My daughter is already saying that she doesn't have cash for this week. People here usually get their paychecks wired into savings accounts which they transfer funds as needed into debit card accounts. The trust in the system is gone. People are going to withdraw their money as soon as they are able to.


Listen to me.

Next step is to freeze all saving accounts, to prevent people from taking their money out of the banks, which would cause massive inflation.

It´s happened in Brazil before; The same thing. Hundreds of thousands of people went bankrupt because their accounts were frozen by the government.

This thing is going to spread all over Europe; Take your money out of the bank before it´s too late.

Italy is already planning to do the same thing:

http://www.prisonplanet.com/banking-chief-calls-for-15-looting-of-italians-savings.html

Raf.

Very good article from Prison Planet RMorgan. Thanks.
THey mention that Cyprus should do like Iceland. I totally agree. Why aren't they?

part of the article:


“A bank account is not a bond or a stock or any sort of investment. This seems to be lost on many people. A bank account is the private property of a citizen or a corporation and does not belong to the government or at least that was the supposition up until now in Europe.”

Secondly, the doomsday proclamation about Cyprus collapsing if the government is not allowed to loot private bank accounts is merely a cover story to justify what represents a brazen act of mass financial rape.

Instead of protecting the bankers responsible for the crisis while pillaging the people who bear no responsibility whatsoever for the debt, Cyprus should be following in the footsteps of Iceland.

Instead of bailing out bankers, Iceland arrested them. Instead of targeting its population with brutal austerity measures, Iceland paid off people’s underwater mortgages. Iceland also allowed people to pay off debts in foreign currency, which were declared illegal, with the devalued krona.

The result was that Icelanders had more money in their pocket, reinvested it into the economy and now the country has enjoyed a miracle financial turnaround.

The Cypriot government has seemingly chosen a different option – selling out its people to the gaping jaws of the European Union and the IMF and setting the stage for years of economic turmoil, civil unrest and dependency on a financial dictatorship which benefits not from stability but from sustained chaos.

[SilentFeathers]

If they do open the banks back up this week no one will probably be allowed to withdraw any large amounts of money.....I have a feeling Cyprus is going to get a bit more chaotic in the VERY near future...

[RMorgan]

Thanks Flash, yes I agree. The Islandic model would have been perfect for Cyprus. Infact I've been talking about this for months with friends and family only to be responded with a blank stare or out right ridicule. Unfortunatley, Cypriots have wanted to be part of Europe for so long and so badly, they cannot comprehend striking out on their own like the Islandic people did. So here we are just waiting for the inevitable, without a definate opening date for banks, available funds in credit cards and current accounts dwindling and no way of transfering funds. My daughter is already saying that she doesn't have cash for this week. People here usually get their paychecks wired into savings accounts which they transfer funds as needed into debit card accounts. The trust in the system is gone. People are going to withdraw their money as soon as they are able to.


The government knows that people will withdraw their savings at the moment they allow it, causing massive chaos. So believe me, my friend; People wont be able to withdraw their money anytime soon.

When they froze the savings accounts here in Brazil, my father had just sold his company; All his money was in his saving account and he almost went bankrupt.

My uncle almost became homeless, because he had sold his house a few months before and while he was looking for another one, they froze his money. In the meantime, he lost his job.

The worse thing came later, when they finally liberated the accounts; Inflation was so bad during those 18 months, that if one had $100 in savings, it became the equivalent of $30 because of currency devaluation.

( I suspect that what really happened is that the bankers just stole the money and blamed it on inflation/currency devaluation. They may do the same thing to you.)

This is a recipe for chaos; There are thousands of financial horror stories regarding this sad period of Brazilian history.

Companies will go bankrupt; People will become jobless...This is just the begining.

No one can benefit from such measure except for the government and the banks, really.

The best you can do right now is go to the streets and protest; Burn the banks if necessary.

Raf.

[Flash]

Yiolas, tell me, does this baking theft effect the Greek side of the Island only or both, the Greek and Turkish side?

[Muzz]

Looking into the recent economic past you come across this in FT (http://www.ft.com/cms/s/0/5ff49ab8-273a-11e1-b7ec-00144feabdc0.html) -


Hopes of an economic recovery this year were dashed by a deadly explosion of munitions stored at a naval base that wrecked the island’s biggest power station, causing damage estimated at around €1bn.

A convenient "accident" for the global bankers. A tragedy for the island.


Of Cyprus' US$24.66bn economy, the EU estimates that the cost of explosion to the island could amount to US$2.83bn, with cost of the power plant itself coming to US$992m. This was weeks before the Bank of Cyprus and other business leaders said "deep spending cuts are needed fast."

Evangelos Florakis Naval Base explosion (http://en.wikipedia.org/wiki/Evangelos_Florakis_Naval_Base_explosion)

Iran explosives at centre of Cypriot intrigue (http://www.telegraph.co.uk/news/worldnews/europe/cyprus/8630190/Iran-explosives-at-centre-of-Cypriot-intrigue.html)

I suspect they may have been secretly in the crosshairs for some time.

Thanks to all our members on the ground keeping us updated from Cyprus.

[Corncrake]

When interest rates are suppressed to below the rate of inflation savers are essentially robbed of money from their accounts - even those with less than 100K. The theft is just surreptitious enough that people don't get mad about it.

I have just been listening to an economist on BBC Radio 4 explaining the very same thing. All those living off living off capital (savings) have already been robbed. Their money will not have the same buying power it had a few years ago.

[giovonni]

This might of slip under the radar from most Americans ... from October 2012 ...

Perhaps laying the groundwork towards setting new and future precedent possibilities...

The all to elusive presidential executive order power act... or as i call it ~ 'marshal law.'

***********
Another Obama Executive Order Allows Seizure of Americans’ Bank Accounts

The latest executive order (EO) emanating from the White House October 9 now claims the power to freeze all bank accounts and stop any related financial transactions that a “sanctioned person” may own or try to perform — all in the name of “Iran Sanctions.”

Titled an “Executive Order from the President regarding Authorizing the Implementation of Certain Sanctions…” the order says that if an individual is declared by the president, the secretary of state, or the secretary of the treasury to be a “sanctioned person,” he (or she) will be unable to obtain access to his accounts, will be unable to process any loans (or make them), or move them to any other financial institution inside or outside the United States. In other words, his financial resources will have successfully been completely frozen. The EO expands its authority by making him unable to use any third party such as “a partnership, association, trust, joint venture, corporation, subgroup or other organization” that might wish to help him or allow him to obtain access to his funds...

Read more - http://thenewamerican.com/usnews/constitution/item/13196-another-obama-executive-order-allows-seizure-of-americans%E2%80%99-bank-accounts

[Watching from Cyprus]

Yiolas, tell me, does this baking theft effect the Greek side of the Island only or both, the Greek and Turkish side? Only the Greek side Flash

[yiolas]

Yiolas, tell me, does this baking theft effect the Greek side of the Island only or both, the Greek and Turkish side?

Cyprus, unfortunately has been divided into two areas since the Turkish invasion of 1974 which forcibly removed all Greeks from the northern part of the country. People with roots of thousands of years in their towns and villages became refugees in their own country. A cease fire agreement at the time allowed for a population exchange where Turkish Cypriots from the southern were bussed over to the north where the Turkish troops were. Since then, the Greeks have remained in the south and the Turks remained in the north. The Turkish Cypriots have their own quasi-government but their monetary system is run out of Turkey. They use the Turkish Lira as their currency. The non occupied part of Cyprus is a full member of the United Nations and the European Union. So to answer your question, "no" this does not affect the Turkish Cypriot side as they are defacto protectorate of Turkey. Thousands of Turkish Cypriots though, are allowed to commute to our side to work and are paid in euros, so theoretically they will be affected if their employers don't have access to their accounts.

What has happened in Cyprus now is equivalent to what happened during the Turkish invasion of 1974. The Cypriot people are resourceful and resilient and Cyprus itself is bountiful, the people will again find a way to rebuild their economy.

[TelosianEmbrace]

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

http://teapartyeconomist.com/2013/03/18/gold-rises-dollar-rises-stocks-fall-the-cyprus-disaster-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]

... 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]

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

http://teapartyeconomist.com/2013/03/18/gold-rises-dollar-rises-stocks-fall-the-cyprus-disaster-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 (http://www.reuters.com/article/2013/03/18/us-eurozone-cyprus-banks-idUSBRE92H0M120130318):



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]

From Reuters (http://www.reuters.com/article/2013/03/18/us-eurozone-cyprus-banks-idUSBRE92H0M120130318):



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/2013/03/18/17359847-hands-off-say-cypriot-protesters-to-eu-bailout-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]

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]

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

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'

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

http://news.bbcimg.co.uk/media/images/66490000/jpg/_66490185_66488878.jpg

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/248338-The-Troika-Takes-Two-More-Victims-the-Coup-Regime-sells-off-Greek-Property) about Greece selling properties, etc... but what interested me most was the comment to this article:



Greece Has More Oil Than Iran. (http://www.sott.net/articles/show/248338-The-Troika-Takes-Two-More-Victims-the-Coup-Regime-sells-off-Greek-Property#comment71429) By: Highland Fleet Lute (http://www.sott.net/users/show/5698-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-rJULXlo&feature=related
[Link (http://hellasfrappe.blogspot.co.uk/2012/01/professor-tells-canadian-radio-that.html)]

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.

The new president's first meeting with the euro group was no way to treat another member state.
The surprise unprecedented ultimatums given to Cyprus were immoral and unacceptable
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.
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.
Cyprus has many friends around the world who are willing and able to help.
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-first-calls-guarantee-protect-000313369.html;_ylt=AkU1B75f_UVNuwyqzdmp8zdSK5NG;_ylu=X3oDMTQzdTc3bG1yBG1pdANGaW5hbmNlIEZSb250cGFnZS BNZWdhdHJvbgRwa2cDMjJkMzdlNTMtODc1Yi0zMTdmLWJhZjMtZmNjY2EzYTgzNWYxBHBvcwMxBHNlYwNtZWdhdHJvbgR2ZXIDM2 Y1NjFlMzAtOTBmMi0xMWUyLWFlZmMtN2NjZjgxODMxNDY3;_ylg=X3oDMTFpbDZ1ZjI2BGludGwDbnoEbGFuZwNlbi1uegRwc3Rh aWQDBHBzdGNhdANob21lBHB0A3NlY3Rpb25z;_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

[giovonni]

Talking to Russia ...

At the moment most probably their best bet ... Especially since the Russians have plenty of cash readily on hand ... i can almost see this scenario possibly repeating itself say in some other ailing economic southern and eastern European nations...

Of course there's always a price to pay in return ... isn't there ?


Dead Broke: Cyprus turns to Russia after EU terms rejected, Merkel furious

Published on Mar 20, 2013

Scenes of relief and celebration greeted the Cyprus Parliament's rejection of a tax on bank deposits. The one-off levy linked to an EU bailout deal would have seen millions of account holders lose up to a tenth of their savings, and had been condemned by officials and the public alike. But the country now finds itself on the brink of bankruptcy and having rejected the EU's terms, it may have to turn to Russia for assistance. RT's Egor Piskunov reports.


http://www.youtube.com/watch?v=DrWXvQvNAd8&feature=em-uploademail

[Watching from Cyprus]

New update from Cyprus;

The banks will stay closed till at least Tuesday morning. The finance minister and the minister of energy are both in Russia trying to negotiate a deal.

Getting pretty difficult here .

I will update you again when further news comes in. If you want to see the reaction and desperation of people you can go to www.cyprus-mail.com and read the comments from the people...

Love
Peter

[Cidersomerset]

This is a good general discusion about the situation.....

35Ut2xBasZE

Published on 20 Mar 2013


Cyprus is facing tough bailout conditions. What is the best plan to save the
country? Do the citizens need to be punished when banking regulation is at fault?
And how will these events affect the financial markets? CrossTalking with
Scheherazade Rehman, Michael Burke and Matthew Boesler.

[Cidersomerset]

Cyprus vs Bankocracy: 'Mattress better place to keep cash than banks'


5Hfmaar81jc

Published on 20 Mar 2013


Thousands of Cypriots are celebrating, after the country's Parliament gave a
resounding no vote to the EU-IMF bailout package. The move could have seen the
government take up to 10% of people's savings, from private bank accounts - as a
precondition to securing the much needed 10 billion euro loan. Now that it's been
rejected, the ailing Eurozone member will have to work out another plan to avoid
bankruptcy.

[Cidersomerset]

BBC ONLINE......

20 March 2013 Last updated at 21:57

Cyprus government 'to present bailout plan B on Thursday' Cash machines have
been running low, correspondents sayThe controversial levy had been proposed as
the condition for the 10bn-euro (£8.7bn; $13bn) EU and IMF bailout. Cyprus was
expected to raise 5.8bn euros through the one-off tax on bank savings.

The plan was altered on Tuesday to exempt savers with less than 20,000 euros (
£17,000), but a 6.75% charge on deposits of 20,000-100,000 euros and a 9.9%
charge for those above 100,000 euros remained.However, parliament rejected the
deal, with 36 MPs voting against it, 19 abstaining and none in favour.


http://news.bbcimg.co.uk/media/images/66516000/jpg/_66516993_b363b283-eab4-44b0-9651-bc3d5dd3ca83.jpg


The president of Cyprus will on Thursday present political leaders with a "Plan B"
for funding the country's controversial bailout, state TV says.Earlier it was
announced that banks, which have been shut all week to prevent mass
withdrawals, would stay closed until Tuesday.Politicians have been scrambling to
find a way forward after a bank levy was rejected by parliament on Tuesday.

The levy was a condition of a multi-billion euro EU-IMF bailout for Cyprus.

"A decision on a Cyprus rescue must be made on Thursday at the latest," President
Nicos Anastasiades was quoted as saying by the official CNA news agency.
Mr Anastasiades will put a proposal to a meeting of political party leaders meeting
at 09:30 (07:30 GMT). It is then expected to go before parliament in the afternoon,
according to CNA.State TV said the plan might include a levy on bank deposits over
100,000 euros, the AFP agency reports.The previous proposals had also included a
levy on deposits between 20,000 and 100,000 euros, which had outraged many
Cypriots.

Russian role

One official told the Associated Press that the new package would include "some
form" of Russian help, but did not elaborate.The Cypriot Finance Minister Michalis
Sarris is in Moscow to negotiate assistance from Russia, which holds multi-billion
dollar investments in Cyprus.Mr Sarris said after talks with Russian Finance Minister
Anton Siluanov that there had been "no offers, nothing concrete," but "a good
beginning".

Talks are expected to continue in Moscow on Thursday.

Cyprus has attracted money through its lower taxes, with Russians holding between
a third and half of all Cypriot deposits.Russian private and corporate assets in
Cypriot banks are believed to total about $30bn, including many larger deposits,
and Russian officials had expressed anger at the bank levy plans.

Bankruptcy fears

Monday 25 March is a scheduled bank holiday in Cyprus, and Thursday and Friday
have now also been declared bank holidays. The stock exchange also remains
closed.German Finance Minister Wolfgang Schaeuble has warned Cyprus that its
banks might never be able to reopen if it rejected the bailout.

Bank mergers, a bond issue, and more Russian funding have all been mentioned as
ways to help the country out of the crisis.One offer of help has come from Cyprus's
Orthodox Church, which is a major shareholder in the third-largest domestic lender,
the Hellenic Bank.Archbishop Chrysostomos I said on Wednesday the Church was
willing to mortgage its assets to invest in government bonds.

The establishment of a "bad bank" which would take on risky assets held by Cypriot
banks has also been mentioned by officials.The BBC's Mark Lowen, in Nicosia, says
Cyprus is a resilient nation and the banks are still giving out cash through
machines - although with limits, and some are running low.Some businesses are
now refusing credit card payments, our correspondent reports.On Wednesday,
German Chancellor Angela Merkel said she regretted but respected the Cypriot vote.
She said the eurozone had a duty to find a solution for Cyprus, but added that the
country's current banking system was "not sustainable".

Cyprus' banks were left exposed following the debt crisis in Greece and there are
fears Cyprus could go bankrupt if they fail.


http://www.bbc.co.uk/news/world-europe-21870801

[Anchor]

http://www.dailymail.co.uk/news/article-2296234/Cyprus-finance-minister-begging-mission-Moscow-Russia-offers-write-debt-Gazprom-access-untapped-oil.html

Russia 'offers to write off debt if Gazprom gets access to untapped oil fields'

[steveofengland]

What's the latest news on the ground in Cyprus Peter?

[yiolas]

There has been a ground swell of support from common Cypriots. People are calling into radio and television programs declaring that they are more than willing to invest in government revenue sharing securities linked to future income from natural gas and oil rigs off Cyprus. Public sentiment particularly spiked after the archbishop of the Cypriot, Greek Orthodox Church went on live TV declaring that the church is willing to put up as security all of the church property in Cyprus (which is vast) in order to raise the required funds to save the country. For the moment people on the street are awaiting to hear the details of plan B. The politicians have created a certain amount of goodwill from the people after voting in their favour on Tuesday.

[Cognitive Dissident]

Although they take a fairly cynical approach, I find http://www.zerohedge.com/ to have pretty insightful articles on the world financial system in general and Cyprus in particular. Some of the reader comments are pretty good too.

What is happening in Cyprus right now is obviously being made up as they go along, by the Europeans as much as any one else. See this latest story from Reuters:
http://www.reuters.com/article/2013/03/21/us-eurozone-cyprus-call-idUSBRE92K0DU20130321 where the European officials said "Markets believe that we will find a solution and that we will provide more money and this might not be the case.", in other words a very messy outcome is still quite likely.

It may be that Cyprus is the "test case" to see how far they can go in terms of threats, theft, etc. - how much the people will put up with. Cypriots are hopefully realising right about now how much they have already been compromised, by their own leaders, by membership of the Euro, by Russian involvement, etc.

Will be watching this situation very closely!

[Cidersomerset]

Max being as suttle as ever ..LOL...

WAz9S-f3x2Q

Published on 21 Mar 2013


Watch the full Keiser Report Episode 421 later today!

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss the big
picture of bank holidays and wealth confiscation in order to pay off the $100 trillion
error account banksters basically admitted to having at Davos in 2011. In the
second half of the show, Max Keiser talks to Reggie Middleton of
BoomBustBlog.com about Cyprus, the rules that have been revealed and his
upcoming special investigation on certain European banks he's discovered have
been committing fraud.

[Carmody]

Part of this mess:

Orthodox church, vs the Vatican. A silent war. A dark war. It shows it's hand here, finally.

The council of Nicaea is still on... as a power struggle.

The Romans still killing the real Christians, while pretending to be Christians.

[giovonni]

In the mist of the current 'Currency Wars' ... Gold is King ... and Russia holds a lot of it ... Physically !


http://www.youtube.com/watch?v=_36aJkQJat8&feature=em-uploademail

[Cidersomerset]

This was channel 4 news report yesterday.

_h9OSkq4NwE

Published on 20 Mar 2013


In Cyprus, banks are set to stay closed all week: until next Tuesday in fact,
as the hunt continues for a bailout which Cypriots will accept, to stave off bankruptcy.

[giovonni]

Part of this mess:

Orthodox church, vs the Vatican. A silent war. A dark war. It shows it's hand here, finally.

The council of Nicaea is still on... as a power struggle.

The Romans still killing the real Christians, while pretending to be Christians.

Yes ~ a very astute observational comment...

The real under belly cause for most of the Western World's historic geopolitical wars and cultural disputes, are rooted to what is known as the 'Great Schism' within the Universal Catholic Church... Which in my opinion, was really ongoing from the onset (between the Latin's and Greek's) when Peter moved the Church to Rome. May i also add, i believe neither faction has truly represented the intended nature of Christ Jesus teachings.

The Great Schism: http://en.wikipedia.org/wiki/East%E2%80%93West_Schism

[RMorgan]

Hey folks,

Check this out:

Emergency legislation looms as Moscow refuses aid to Cyprus

"Cyprus was left face to face with its grave financial crisis and is due to adopt new emergency legislation to secure the EU bailout after Russia said it would not help.

Nicosia introduced emergency legislation in the parliament late on Thursday to secure a bailout deal with international creditors as the island state faces an ultimatum from the ECB to agree on the bailout by next week.

The parliament is to debate on the emergency legislation on Friday, as MPs say they needed time to consider the new legislation. "

Read more: http://rt.com/business/cyprus-decide-emergency-legislation-save-financial-system-651/

Raf.

[SilentFeathers]

Hey folks,

Check this out:

Emergency legislation looms as Moscow refuses aid to Cyprus

"Cyprus was left face to face with its grave financial crisis and is due to adopt new emergency legislation to secure the EU bailout after Russia said it would not help.

Nicosia introduced emergency legislation in the parliament late on Thursday to secure a bailout deal with international creditors as the island state faces an ultimatum from the ECB to agree on the bailout by next week.

The parliament is to debate on the emergency legislation on Friday, as MPs say they needed time to consider the new legislation. "

Read more: http://rt.com/business/cyprus-decide-emergency-legislation-save-financial-system-651/

Raf.

Looks to me that Russia was threatened to back off by the evil snakehead....can't say Russia didn't try to get their hands on those huge gas reserves under Cyprus!

[SilentFeathers]

Here's another development that not many are talking about:


Anti-corruption police raid the home of IMF chief Christine Lagarde after claims she 'authorised £270m payout to a convicted fraudster'
Police today raided the International monetary Fund's Paris home
Relates to £270m payout to Bernard Tapie when she was finance minister
Court of Justice of the Republic ruled that she may have abused her position
Her lawyer said the search will 'help uncover the truth' and 'exonerate' her
http://www.dailymail.co.uk/news/article-2296383/IMF-chief-Christine-Lagardes-home-raided-claims-authorised-270m-payout-convicted-fraudster.html

[william6565william]

Hey folks,

Check this out:

Emergency legislation looms as Moscow refuses aid to Cyprus

"Cyprus was left face to face with its grave financial crisis and is due to adopt new emergency legislation to secure the EU bailout after Russia said it would not help.

Nicosia introduced emergency legislation in the parliament late on Thursday to secure a bailout deal with international creditors as the island state faces an ultimatum from the ECB to agree on the bailout by next week.

The parliament is to debate on the emergency legislation on Friday, as MPs say they needed time to consider the new legislation. "

Read more: http://rt.com/business/cyprus-decide-emergency-legislation-save-financial-system-651/

Raf.

Looks to me that Russia was threatened to back off by the evil snakehead....can't say Russia didn't try to get their hands on those huge gas reserves under Cyprus!

Who is the evil snakehead you are revering to in this case?

[Cidersomerset]

Default Rolls In? Cyprus gets no Russian cash, 'EU no help'

13mG-7GSZ-o

Published on 22 Mar 2013


Chancellor Angela Merkel is now warning Cyprus, quote 'not to test the boundaries
of the Troika's patience'. That is after one avenue of rescue, a deal with Russia, all
but evaporates. Nicosia and Moscow failed to agree on a rescue plan, after intense
negotiations in the Russian capital.
The Cypriot government is due to present the EU and IMF with a new plan, dubbed
Plan B, to secure a bailout. Andreas Tiedtke, a Free Voters Nuremberg candidate for
the Bavarian Parliament, gives a German perspective on the crisis.

[Hervé]

[...]

Looks to me that Russia was threatened to back off by the evil snakehead....can't say Russia didn't try to get their hands on those huge gas reserves under Cyprus!

Who is the evil snakehead you are revering to in this case?


That would be the owners of most oil fields worldwide and who always control both sides of any conflict since there are no conflict till two sides are created and thereby controlled.

The beauty of controlled opposition... it not only works with MSM, the elephant-donkey hybrid, etc... but also at the US vs. Russia scale: The whole of the Russian oil and gas fields are Rockefeller owned thanks to them financing Lenin:


All right, so let's get some history straight here; from the account of someone who had ample opportunities to peruse the said person's archived private files:

Case 22D Hot Sodas Courtesy of Those Who Funded the Bolshevik Revolution?


The wife of Mayer Amschel Rothschild, Gutle Schnaper, said, “If my sons did not want wars, there would be none”. See the 5-minute clip THE ROTHSCHILDS at http://www.youtube.com/watch?v=fXVJzXsraX4 (http://www.youtube.com/watch?v=fXVJzXsraX4)


Rothschilds/John D. Rockefeller, Sr. funded the Bolshevik Revolution

Per his writings in the Archives, John D. Rockefeller helped fund the Bolshevik Revolution to get the wealth of the Czars, the labor of the Russian people, and much the Southern Oil fields in Russia. That wealth changed its name from Czarist, to Russian Government owned. Ignore the names, what happened to it? Did the people of Russia get it? No. The Rockefeller Archives show that he built a private army in Russia, much like the Brown Shirt army later. His accountant said that for each 2 cents that he spent to build that Army he got a dollar back. That Army was not staying up late to knit socks to sell. They were beating people up and committing assassinations, massacres, and mayhem to terrorize the populace into submission. And he was bribing officials to get what he wanted. He was apparently famous for that in the US as well. See www.reformation.org/rockefeller-bribery.html (http://www.reformation.org/rockefeller-bribery.html) .

[...]

In exchange, Rockefeller got some of the Czars crown jewels. The Rockefeller Family stored some of them in the Metropolitan Museum of Art in New York. I was able to prove that to the satisfaction of the Director of CIA at the time. They also got most of the profits from the Southern Russian oil fields. In about 1994, I went on a tour of them with Rodman Rockefeller so I know that for a fact. In addition, the Rockefellers charged about 18% interest on the money that they loaned Lenin for the Revolution. The way that agreement was set up made all of the loot that Lenin could seize in Russia, the Rockefellers/Rothschilds.


The Russian Famine Under Stalin and the Rockefellers

That meant that Lenin and Stalin could never get out of debt unless they could work people nearly to death to produce the goods Rockefeller/Rothschilds wanted. People thought that the ridiculous factory quotas the Russians tried to accomplish were the result of communism. That was not what I thought after reading the Archives. The Rockefellers were setting the quotas and delighting in the profits. They also delighted in giving the Russians quotas they could not meet as a way of humiliating them.

As the CIA’s intelligence negotiator to make an agreement with the Russians on how to form a single German Intelligence agency after the Berlin Wall fell, I had a chance to meet Gorbachev. That was not the only occasion. He once told me how he was motivated to help the Russian people because aunts/uncles of his had died in a famine when he was a 4-year old-boy. It was known that the agricultural policies under Stalin had caused that famine in the early 1930’s.

I found a video of the part of that famine that affected the Ukraine. Given racists tendencies it was likely worse in the Ukraine than in Russia.

[...]

Knowing how important this event was to him [Gorbachev], I sent him copies from the Archives of documents that showed those policies had been forced upon Stalin by Rockefeller. While the people of Russia starved, Rockefeller was also insisting that Stalin sell him the grain at the price and amounts previously agreed to. But Rockefeller did not need that grain. And Rockefeller was, to a large extent, responsible for the bad policies that caused the poor crop yields and meant that selling that same amount of grain overseas ensured famine. It appeared to be a deliberate attempt, not just to get grain cheaply, but to starve people. The private journals of John D. Rockeller, Jr. confirmed that. The Rockefeller Family seemed obsessed by the desire to kill people off, including by warfare and starvation. The Rockefellers have long backed population control measures fairly publicly. That was not a secret, nor their funding of ‘eugenics’ research’. See http://www.theforbiddenknowledge.com/hardtruth/omegafile29.htm (http://www.theforbiddenknowledge.com/hardtruth/omegafile29.htm) , http://www.eugenics-watch.com/eugbook/,euod_ch1.html (http://www.eugenics-watch.com/eugbook/euod_ch1.html) , http://illuminati-news.com/nazi-california.htm (http://illuminati-news.com/nazi-california.htm). But, the behind the scenes maneuvers on how they were committing those Crimes Against Humanity were secret. To them Communism was a lovely excuse to steal the wealth of the rich Russians and then kill off the poor who were not working in their factories. The factories and the oil fields had the name of the Soviet Union on them, as if they belong to the Russian Govt.. But an examination of the chain of command structure and the flow of money made it look like the Rockefellers et al were already well on their way to being Kings of the World.


The Battle of Stalingard and the Rockefeller Ploy to Spread WWII Across Russia

Let me give you an example of that so you can understand how this system worked in practice. John D. Rockefeller, Jr, wanted to crash prices in South America of a type of goods to force his competitors into closing. If I remember correctly, the country was Argentina and the goods were stainless steel cookware--pots and pans, bowls, and cutlery. They were items peasants had to buy to live. They were also heavy and it made absolutely no sense to ship them from Russia since they were already made in adequate quantities by factories in that country. But they were not Rockefeller’s factories so a part of the markets’s share of money was not going to them. That was an anathema to John. D., Jr.. He wanted to own everything and everyone, or kill them.

So, he wrote a letter to Stalin and told him how much and what kind of each item he wanted. It was a huge order, perhaps several Latin American countries worth. Rockefeller was going to dropped the prices of the goods to drive the Latin American factories out of business. Then he would buy them cheaply. Having a monopoly he would then raise the price of the goods to steal even more from the peasants. His journal shows that he intended to cause their children to starve, if at all possible. It was not an unintended consequence of his business practices. I saw instances in which he was willing to lose money to make others starve. It was really quite sad to read about the life of a man who was so desperately unhappy that this was what it took to distract him from that fact.

[...]

Stalin got the order and wrote back saying that he could not meet those deadlines in 2 months time. Rockefeller wrote back saying he had to ‘or else’. I wanted to know what the “or else” was. Later I came across invoices for the guards of Stalin which Rockefeller was paying. They were not just regulars, they were a special outfit chosen by Rockefeller. They were not ethnically the same as Stalin. It appeared that they had been chosen by Rockefeller to have no qualms about killing Stalin, if ordered to do so. The head of them was writing reports on Stalin’s activities to John D. more often than Stalin was writing to John D. After looking into it even further than I have said, I concluded that John D.’s threat to kill Stalin was a credible one.

Stalin was humiliated in more ways that one by trying to fill that order in time. He did not succeed, as hard and as desperately as he tried. He was a week late. Furthermore, this was during the height of the German attack on Russia, about a month before the battle of Stalingrad when the order was completed. It meant that steel and railway transport that would have gone into making of rifles did not.

Russian soldiers went into the battle of Stalingrad, Stalin’s namesake, with only about 35% of them carrying a rifle! They had to rush forward into battle defenselessly or be shot in the back. Only after one of their buddies got killed could they pick up a fallen weapon to defend themselves. That caused a huge rift among them which they could not solve. It was designed to destroy their team spirit and turned them against each other.

The Battle of Stalingard was almost a defeat for the Russia people because of what John D. did. His journal showed that he intended for the battle to be a Russian defeat and allow him to spread the war all across Russia. He agonized on the pages of his journal about whether his timing was right and the order big enough. He wanted the fighting to continue all across Russia and not just lead to a Russian capitulation. He wanted to destroy all the shop keepers and small enterprises that had not yet been nationalized and brought under his control. His journal said that he cried at his loses when the Russians bravely managed to force the Germans to retreat. But he did not call them brave in his journal and I will not repeat the derogatory phrases. Skull and Bones calls people not in it Barbarians; will they help the Rockefellers plan and execute mass murders, such as at Auschwitz and other Nazi death camps. It is clear that they have some problems in their thinking.

Whole article, click here (http://avalonlibrary.net/Sue_Arrigo/)

[Hervé]

As for why international interests in bankrupting Greece, Egypt, Tunisia, Libya, Syria, etc...


The following is a comment to this article on SOTT.net (http://www.sott.net/articles/show/248338-The-Troika-Takes-Two-More-Victims-the-Coup-Regime-sells-off-Greek-Property) about Greece selling properties, etc...




Greece Has More Oil Than Iran. (http://www.sott.net/articles/show/248338-The-Troika-Takes-Two-More-Victims-the-Coup-Regime-sells-off-Greek-Property#comment71429) By: Highland Fleet Lute (http://www.sott.net/users/show/5698-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-rJULXlo&feature=related
[Link (http://hellasfrappe.blogspot.co.uk/2012/01/professor-tells-canadian-radio-that.html)]This, together with Tunisia, Egypt, Libya, Syria...

The last countries standing up against the IMF firing squad were Libya, Venezuela, North Korea, Cuba and Iran... how many have now been checked out?

So, what can you guess the real plan to be?

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

Anyone ever read John Perkins' "Confessions of an Economic Hit Man"?

[ThePythonicCow]

A couple hours ago (not sure exactly when) Bloomberg tweeted that:




BREAKING: #Cyprus passes all nine bills on bank resolution required for E.U. bailout
Earlier in the day (Friday afternoon Cyprus time) I heard that the EU Troika (http://en.wikipedia.org/wiki/Troika_%28triumvirate%29) (comprised of the European Commission, the European Central Bank (ECB) and the International Monetary Fund (IMF)) had rejected 'Plan B' in Cyprus (http://www.spiegel.de/international/europe/troika-rejects-plan-in-cyprus-to-tap-pension-funds-a-890394.html). That plan would have involved further loans to Cyrus. Russia backed out (http://www.ibtimes.com/cyprus-proposes-money-raising-plan-win-troika-financial-rescue-russia-decides-not-help-markets) of providing loans under that plan, after German Prime Minister Merckel insisted (http://www.thelocal.de/politics/20130319-48617.html) that Cyprus talk to the EU Troika, not to Russia.

¤=[Post Update]=¤

Harvey Organ's Daily (http://harveyorgan.blogspot.com/2013/03/russia-adds-200000-oz-to-its.html) earlier summed up the Cyprus situation thusly:




The big news of the day is Cyprus again. This morning we were greeted with news that all deals with Russia are now off the table. Cyprus is scrambling with Plan C to rape the private pension funds and replace them with worthless sovereign Cyprus bonds, and possibly sell their 13.9 tonnes of gold. It looks to me like Russia is waiting for Cyprus to fail and then they will swoop in and take the prize assets for pennies on the dollar.

[ThePythonicCow]

From Zerohedge (http://www.zerohedge.com/news/2013-03-22/cyprus-officially-passes-capital-controls-law), Cyprus has just initiated "capital controls" (http://www.investopedia.com/terms/c/capital_conrol.asp?ModPagespeed=noscript).

Capital controls limit the flow of foreign capital in and out of the domestic economy. This includes taxes, tariffs, outright legislation and volume restrictions, as well as market-based forces. Capital controls can affect many asset classes such as equities, bonds and foreign exchange trades.

¤=[Post Update]=¤

More details from The Guardian (http://www.guardian.co.uk/business/2013/mar/22/eurozone-crisis-cyprus-bailout-russia-vote):



Cyprus has taken a significant step towards securing its desperately needed bailout.

The nine bills approved in the last couple of hours will allow Nicosia to implement a much-deed restructure its banking sector, impose capital controls to prevent a run at its banks, and set up a solidarity fund that might attract new capital.

But it's only part of the battle. Cyprus still needs to find the full near-€6bn demanded by international lenders, in time for the eurogroup meeting on Sunday.

It is going to be a tense, dramatic weekend for Cyprus. On Saturday, MPs are expected to reconvene at parliament to discuss and vote on the deposit levy -- back on the agenda, as other options run out.

The details of that tax will be fascinating, amid rumours that big depositors will lose 15% of their wealth.

Cyprus's president Nicos Anastasiades will then travel to Brussels to start the task of persuading eurozone officials to unlock its bailout before the European Central Bank can pull the liquidity plug on Monday.

Sunday's meeting of the eurogroup, complete with Christine Lagarde, will be a crucial event -- determining Cyprus's fate, and the long-term future of the eurozone.

[Hervé]

Some more background tapestry about Cyprus, from http://www.marketoracle.co.uk/Article39600.html:



http://www.sott.net/image/image/s6/135714/full/russia_turkey_map_1.png


Could Cyprus Banking Crisis Trigger a War?
Mar 22, 2013 - 11:50 AM GMT By: LewRockwell (http://www.marketoracle.co.uk/UserInfo-LewRockwell.html)

Eric Margolis writes: Realizing they will never be a world power, the Cypriots have decided to settle for being a world nuisance. ~ George Mikes, Hungarian writer

Cyprus is a big pain in the neck for one and all. Its banks are bust due to reckless lending to Greece. The sunny island is a beehive of tax evasion, money laundering, dodgy trade and espionage.

Now, the threatened bankruptcy of Cyprus has triggered the latest European financial crisis.

Russian businessmen and the Russian Mafia have some 30 billion euros stashed away in Cyprus. Russians make up the second largest biggest cohort of Greek Cyprus’ 869,000 people. Some 260,000 ethnic Turks live in the isolated Turkish Republic of Northern Cyprus, which no one but Turkey recognizes.

A 10 billion euro EU bailout is in the works. But the Germans, who will have to fund most of the rescue, are loathe to rescue the Russian mob, and who can blame them?
So the Germans seem set on punishing the wayward Greek Cypriotes and their Russian pals by trying to impose a tax on local bank deposits. This ham-handed plan triggered outrage and fear across Europe, and may ignite a run on banks in Cyprus and Greece. Moscow is furious.

But there’s much more to the Cyprus crisis than its dubious banks. Cyprus has bedeviled Europe and world diplomacy since 1974, then Greek Cypriot far rightists staged a coup and sought union – or "enosis" – with mainland Greece. Turkey promptly intervened with 30,000 troops to protect Turkish Cypriots in the north. Many Greeks fled or were expelled to the south.

Europe and the UN have been trying to sort out the Cyprus mess ever since. After decades of mind-numbing negotiations, former UN chief Kofi Annan proposed a sensible deal in 2004 for a Greek-Turkish federation. Turks accepted, but Greek Cypriots blocked it. Britain, which has two important air bases in Cyprus, backed the status quo.

In the same year, the EU committed the grave error of admitting Cyprus as a member without first insisting that Greek Cypriots agree to a peace deal and Greek-Turkish federation.

Northern Cyprus was left in limbo while the south became part of the EU, assuring the island’s ugly dispute would become part of the European Union. Cyprus should never have been admitted to the EU.

Europeans who opposed Turkish membership in the EU used Cyprus as a pretext to delay admission, infuriating Turkey.

After decades of patient work developing normal relations after centuries of conflict, Greece and Turkey are again up in arms again over Cyprus. Their dangerous problem of overlapping air and sea claims in the Aegean has revived - just when Greece must slash its bloated military budget.

It gets worse. Very large underwater gas deposits were recently discovered between Cyprus and Israel. Both Cyprus and Israel, who are to jointly develop them, could become energy exporters. They have become very close allies.

"Not so fast" say Cyprus’ Turkish minority. ‘That gas also belongs in part to us!" Ankara insists the gas must be shared and has sent ships to back its claim.

Palestine, Egypt, Lebanon and Syria are also advancing claims to the "Aphrodite" gas field off Cyprus -shades of the tense South China Sea. But most likely to clash are the Turks and Israelis.

Turkey is still boiling mad over the Israeli seizure of a Gaza bound relief ship in 2010 and the killing of nine Turks.

Israel has emerged as a major backer of the embattled Greek government, using its influence in Washington and financial clout.

Russia, increasingly interested in the Greece-Cyprus-Syria region, says it will keep a nine-ship squadron in the eastern Mediterranean as Moscow’s worries over Syria, now under western siege, grow by the day. Moscow is hinting that it mighty bail out Cypriot banks in exchange for the lion’s share of the "Aphrodite" gas fields.

All the elements are in place for a very nasty, dangerous multi-party confrontation in the eastern Mediterranean. The EU could have pre-empted this danger by using a bank rescue of Cyprus to force Greek Cypriots to make a sensible peace deal with their Turkish neighbors. And by forcing Cyprus to fairly share the offshore gas bonanza with neighboring states. But it probably won’t.



Eric Margolis [send him mail (margolis@foreigncorrespondent.com)] is contributing foreign editor for Sun National Media Canada. He is the author of War at the Top of the World (http://www.amazon.com/exec/obidos/tg/detail/-/0415934680/lewrockwell/) and the new book, American Raj: Liberation or Domination?: Resolving the Conflict Between the West and the Muslim World. See his website (http://www.ericmargolis.com/).

Copyright © 2013 Eric Margolis

[apokalypse]

if economy crash and bank losing money then where's the money went to? who's the winner?

[ThePythonicCow]

if economy crash and bank losing money then where's the money went to? who's the winner?
Money go "poof" (meaning it becomes worth less, until such time as it becomes worthless) :).

[yiolas]

Michael Rivero has it right. Everyone should pay attention to what is going on in Cyprus now.

NyNpWUF56sQ

[MorningSong]

Hot off the press at Reuters:


Reuters) - Cyprus conceded on Saturday to a one-off levy on deposits over 100,000 euros in a dramatic U-turn as it raced to satisfy European partners and seal an 11th-hour bailout deal to avert financial collapse.

The island's finance minister, Michael Sarris, reported "significant progress" in talks with international lenders, with the clock running down to and end-Monday deadline for Cyprus to clinch a bailout deal with the EU or lose emergency funding for its stricken banks and risk tumbling out of the euro zone.

His counterparts in Europe's 17-nation currency union scheduled talks in Brussels for Sunday evening to see if the numbers add up, and the EU's Economic Affairs Commissioner Olli Rehn said progress was being made towards a solution.

As Cypriot party leaders met, a senior Cypriot official told Reuters that Nicosia had agreed with EU/IMF lenders on a 20 percent levy over and above 100,000 euros at No. 1 lender Bank of Cyprus, and four percent on deposits over the same level at others.

Troika officials could not immediately be reached for comment.

Cypriot President Nicos Anastasiades tweeted: "We are undertaking great efforts. I hope we have a solution soon."

The conservative leader, barely a month in the job and wrestling with Cyprus's worst crisis since a 1974 invasion by Turkish forces split the island in two, was due to lead a delegation to Brussels, also on Sunday, to meet heads of the EU, the European Central Bank and International Monetary Fund, in a sign a deal might be near.

"Hopefully by tomorrow in Brussels we will have the agreement of our partners," Averof Neophytou, deputy leader of the ruling Democratic Rally party, told reporters.

Government officials held talks through the day at the finance ministry with Cyprus's 'troika' of lenders - the EU, ECB and IMF. Angry demonstrators outside chanted "resign, resign!"

Its outsized banking sector crippled by exposure to crisis-hit Greece, Cyprus needs to raise 5.8 billion euros in exchange for a 10 billion euro EU lifeline to keep the country's economy afloat.

But in a stunning vote on Tuesday, Cyprus's 56-seat parliament rejected a levy on depositors, big and small, as "bank robbery", and Sarris spent three fruitless days in Moscow trying to win help from Russia, whose citizens have billions of euros at stake in Cypriot banks.

Rebuffed by the Kremlin, Sarris said on Saturday talks with the troika were centred on a possibly levy of around 25 percent on savings over and above 100,000 euros at failing Bank of Cyprus.

In a sign of how fluid the situation remains, however, a senior ruling party lawmaker said other options were on the table, including a "voluntary haircut" in exchange for equity that would not require parliamentary approval.

The EU's Rehn said the bloc recognised the progress made by the Cypriot government, and warned of tough times ahead.

"Unfortunately, the events of recent days have led to a situation where there are no longer any optimal solutions available," he said in a statement. "Today, there are only hard choices left."



Continue reading at link:

http://uk.reuters.com/article/2013/03/23/uk-eurozone-cyprus-idUKBRE92F07R20130323

[yiolas]

Thanks Morningsong, Indeed people on the street in Cyprus have been on a roller coaster ride for more than a week now. Our hopes stemming from last week's NO vote in Parliament have been dashed as it seems that the government here ultimately will give in to the demands of the EU/IMF group. Very stringent laws and regulations are now being put into place restricting access to our bank accounts ahead of next week's bank openings. I fear that a seed of austerity and government control has been planted in Cyprus that will eventually sprout and spread to other EU countries.

[Hervé]

Yep, Cyprus is definitely sitting atop a powder keg...

Everyone seems to want a piece of that keg, from http://www.veteranstoday.com/2013/03/23/u-s-accomplishes-takeover-of-the-eastern-mediterranean-gas-fields/:




U.S. accomplishes takeover of the Eastern Mediterranean Gas Fields
By www.roytov.com (http://www.roytov.com/)

—
“We even gave them one hour of ‘siesta’ after lunch, as their culture demands, but they ran away as soon as the first missiles fell.” This is the summary of the heartbreaking claim that appeared in The Marker on March 23, 2013. It was a sharp reminder that The Eastern Mediterranean Gas Fields (http://www.roitov.com/index.htm#gasfields) Affair is still well and alive. Daewoo, a Korean corporation, is developing the Israeli gas fields and is constructing a private electricity production plant near Dimona; from summer 2013 it will provide 440MW of electricity, about 4% of Israel’s consumption. 700 Koreans working there were truly surprised to find out that Israelis consider “siesta” a Korean word; they were also surprised in January 2013, when they became the target of missiles shot from Gaza.

http://www.roitov.com/articles/daewootamar.jpg
Daewoo Develops Tamar Gas Burners for Forges, Furnaces, and Kilns (http://www.amazon.com/gp/product/1879535203/ref=as_li_tf_tl?ie=UTF8&camp=1789&creative=9325&creativeASIN=1879535203&linkCode=as2&tag=roto-20)

http://www.roitov.com/articles/gasfields.png
The Eastern Mediterranean Gas Fields (http://www.roitov.com/index.htm#gasfields) Affair


Israel’s Strategy

As expanded in German Machine, Russian Workers and Israel’s Largest Nuclear Shelter (http://www.roitov.com/articles/burmaroad.htm), whenever possible, Israel attempts to acquire technology instead of developing it. This strategy dates back to the days when Shimon Peres decided that the Weizmann Institute of Science would adapt French nuclear technologies instead of developing them from scratch. After the first Eastern Mediterranean gas fields were found, Israel started a frantic search for partners owning the required technologies.

In parallel, an aggressive attempt to secure its military control of the area took place. The main two problems were the disputed maritime border with Lebanon and the Palestinian claims on fields in front of Gaza. The first event deteriorated into a war of words that led to the formation of unexpected alliances. (http://www.roitov.com/index.htm#gasfields) Turkey, Iran and Northern Cyprus joined Lebanon. Cyprus and Greece joined Israel while gas-thirsty Spain attempted to secure Israeli supply.

Azerbaijan had a significant interest in Israeli hegemony while Russia was also interested in it, both mainly due to the Israeli capability to shorten their supply lines through the Ashdod-Eilat pipeline. Egypt was in turmoil and Gaza was under siege. The chances that a regional war would erupt were high. Israel gave the Gaza Marine field to the Palestinians and bought their quiet; only the Turkish issue was left open. Yet, the gas reserves are so large that world players stepped in.


Uncle Obama Steps in
As far as I can tell, most Americans don’t like their country being called an “empire.” Most of them feel outraged will hearing terms as “neo-colonialism” aimed at their country, which they ironically call “Land of the Free.” The Land where NSA, FBI and CIA Agents are Free. Most of them consider atrocious the idea that corporations act as colonialist agents. Can McDonald’s be considered a colonial agent? Yet, America’s favorite colony started its empire that way. The English East India Company was founded in 1600, as The Company of Merchants of London Trading into the East Indies.

In 1612 Mughal Emperor Jahangir granted it the rights to establish a factory and trading post, in the port of Surat on the western coast of India. The company soon became immensely successful, establishing many similar outposts. Following Robert Clive’s victory in the 1757 Battle of Plassey, the British enclaves became independent and begun being consolidated into a new empire. Where there wasn’t a strong local government, the British simply took over the Indian states.

In stronger areas, Indian rulers acknowledged the company’s hegemony in return for limited internal autonomy. After the empire was consolidated, all pretensions were dropped. The company was replaced by the British Raj, a ruthless colonial regime which lasted until India got independence in 1947. An empire based on wild capitalism, the British provided minimal freedom to their subjects. This is true regarding most of the European Westphalian states. The Dutch also wanted an empire of their own.

The Dutch East India Company (VOC) began the conquest of the Indonesian archipelago from 1603, when the first trading post was established. In 1800, the bankrupted party was dissolved, and its possessions nationalized as the Dutch East Indies. The Dutch East Indies colony became modern Indonesia following World War II. Needless to say, also here the conquerors were after material profits and kept their colonies underdeveloped. Nowadays it is America’s turn; Empire and McFalafel (http://www.roitov.com/articles/mcfalafel.htm).

Yet, in this case, the USA cannot be blamed alone on malevolent intentions. Since the first deposits were found, the Israeli government showed an odd obsession with Noble Energy, an oil and gas company from Houston, Texas. This company systematically collected operation and drilling licenses. In March 2013, it owns 79% of the proven gas reserves and 100% of the operation licenses. Noble delegates works to subcontractors. No other company requested licenses, maybe they were afraid of a regional war; hence the Israeli government gave them away to the first bidder. In October 2012, the president of Australian Woodside Petroleum met with Prime Minister Netanyahu, in an attempt to buy 30% of the Leviathan field.

As of now, this deal has not been concluded. In other words, the USA drills and operates the larger part of the Eastern Mediterranean Gas Fields. There is enough gas there to provide Israel’s entire energy consumption for decades. The country will slowly move from its coal-operated electricity plants to gas-operated ones, and much gas will be left for the Americans to play with. Even the gas consumed in Israel will generate commissions for the Americans. In this context, the humble and compassionate public request of President Obama from Netanyahu to end the conflict with Turkey, expressed during his recent visit (http://www.roitov.com/articles/hamsin.htm) to Israel, must be seen in a new color; “Imperial Cold” is its name.

[skippy]

It seems that life will be back to normal in Cyprus within a couple of days..

(Reuters) - Cyprus clinched a last-ditch deal with international lenders to shut down its second-largest bank and inflict heavy losses on uninsured depositors, including wealthy Russians, in return for a 10 billion euro (8 billion pounds) bailout.

The agreement came hours before a deadline to avert a collapse of the banking system in fraught negotiations between President Nicos Anastasiades and heads of the European Union, the European Central Bank and the International Monetary Fund...

[Cognitive Dissident]

Unfortunately, there will be no "back to normal" for Cyprus, because its economy has become based on offshore finance, which has now been destroyed... all of the hot money has gone to Latvia, apparently.

My prediction: the Cyprus economy having been seriously damaged will continue to shrink, and another bail out will be required in a year or two.

[SilentFeathers]

The lack of common sense on this planet is phenomenal.

Stealing approx. 7.5 billion from depositors in order to borrow 10 billion from criminal bankers???????????? dah!!!!!!!!!!!!

[Conchis]

This all feels like dealing with a loan shark...you scrape/rob/steal/borrow whatever you can to satisfy the loan shark today, but he'll be back next week reminding you how he didn't break your legs last week, but that's always an option. It never ends.

[giovonni]

no translations needed ...

http://www.crisisrepublic.com/tcr/wp-content/uploads/2013/03/cyprus-bank-robbery.jpeg

[Operator]

no translations needed ...

http://www.crisisrepublic.com/tcr/wp-content/uploads/2013/03/cyprus-bank-robbery.jpeg

I had at least half of this picture in mind for years :whistle:

But this indeed exceeds all expectations ... :rolleyes: