Bank run in Cyprus as EU steals peoples money (support, guns, depression)
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Regardless of who caused the mess, bank accounts should simply be taboo. If the government wants to steal from people, they should raise taxes as usual.
well, this is basically the same thing.
If they want the bailout then the people must pay, if not - they can vote for another president next time around.
The ECB is already offering to change the terms of the bailout to at least spare people below $130,000 which would have been the max insured amount.
No. Updated plan still hurts small depositors:
"According to the official a new plan would see deposits up to EUR100,000 taking a loss of under 5%; of EUR100,000 to EUR500,000 under 10%; and over EUR500,000 of about 13%."
so why not just impose the levy on Cypriot citizens only?
It's not, it's on all savings account deposits (but not checking accounts and I don't know about things such as CDs).
Either way it looks like this proposed tax will not get passed by the national assembly as the ECB is now backing down in the face of wide spread public protests and not just in Cyprus. My guess is, at worst, no tax will hit savings up to the insured about (think of it like the FDIC insured amount) of $130,000 and only people with accounts larger than the insured amount will get hit with the one time deposit tax. The problem is the ECB announced they wanted to force Cyprus to take this move on Friday night but the electronic transfers didn't start getting blocked until Monday morning so all the accounts of those Russian mobsters and corrupt Russian politicians were probably electronically transferred out the country (to places like the Caymen Islands [a Romney favorite for hiding cash], Malta, Gibraltor, Bermuda, or similar type locations).
They might just say it's not worth it now and it isn't like the government of Cyprus ever wanted to do this so they're fighting it tooth and nail. It was really only Merkal's government who wanted this to happen in some desperate attempt to avoid yet another bailout funded by German taxpayers with elections happening next year in Germany. It was boneheaded and ham fisted from the start.
Like I said, this is just an updated offer by the ECB and all depends on what actually passes the national assembly of the nation of Cyprus. I shall wait and see because the public really doesn't like this idea and if there is one thing politicians are afraid of it is not getting reelected.
Scary crap isn't it. Stealing money from the people right out of there bank accounts. Notice how you have to go to Zero Hedge to find news like this. Not a word from our MSM. Just another reason I don't waste my time with them.
But the idiots in this forum can care less about this stuff, it's way above there comprehension level.
I was going through the threads and every subject is really stupid, not even worth responding to.
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