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Old 03-18-2013, 01:06 AM
 
1,013 posts, read 815,776 times
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Well guys it was only a matter of time before 0% interest rates would not be enough and they would steal people's money outright

Cyprus works on tax levy deal to get bailout approved | Reuters

Cyprus Bank Deposits to Be Taxed in $13 Billion Bailout - Bloomberg
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Old 03-18-2013, 08:16 AM
 
4,130 posts, read 4,071,086 times
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Who do you mean by "they"?
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Old 03-18-2013, 09:05 AM
 
Location: Victoria TX
42,661 posts, read 78,396,225 times
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The Cyprus government IS the people. Just like in the USA. The money "stolen" still belongs to the people of Cyprus, and will be spent in the Cyprus economy to benefit the people of Cyprus, according to the advice and consent of the people of Cyprus. That's how democratic free market republics work.
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Old 03-18-2013, 04:58 PM
 
2,847 posts, read 2,461,773 times
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So those who're not keeping their money in the Banks,
won't 'benefit the people of Cyprus' ?

Now whose stealing, their own money?
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Old 03-18-2013, 07:39 PM
 
19,337 posts, read 16,930,256 times
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So what about the stock holders and bond holders in the bank? They should go to zero. That is like GM repossessing cars to increase profits for stock and bond holders. Why can't we just have a normal bankruptcy anymore? How about every time a crime is committed we don't bother catching criminals? Just punish random people.
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Old 03-25-2013, 07:10 PM
 
47,531 posts, read 63,566,523 times
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Quote:
Originally Posted by jtur88 View Post
The Cyprus government IS the people. Just like in the USA. The money "stolen" still belongs to the people of Cyprus, and will be spent in the Cyprus economy to benefit the people of Cyprus, according to the advice and consent of the people of Cyprus. That's how democratic free market republics work.
That's exactly why it's going to happen here in the USA. The politicians here in the USA are already eyeing up the 401K plans of those people who didn't waste and spend all their incomes, they need those savings to keep buying themselves votes.

It's only a matter of time before the 401K plans of the working people are confiscated to redistribute in a way that keeps certain liberal politicians in office. The money earned by only a few will be seen as "the peoples' money", not the money of those who worked for it and saved it.
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Old 03-25-2013, 07:31 PM
 
31,025 posts, read 37,002,225 times
Reputation: 13315
Quote:
Originally Posted by jtur88 View Post
The Cyprus government IS the people. Just like in the USA. The money "stolen" still belongs to the people of Cyprus, and will be spent in the Cyprus economy to benefit the people of Cyprus, according to the advice and consent of the people of Cyprus. That's how democratic free market republics work.
Much if not most of the money taxed is not Cypriot but Russian and other internationals using Cyprus as the tax haven it is.
Cyprus Rescue: The Destruction of a Tax Haven | TIME.com
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