{"id":11268,"date":"2013-03-18T13:20:29","date_gmt":"2013-03-18T17:20:29","guid":{"rendered":"http:\/\/angry.net\/blog2\/?p=11268"},"modified":"2020-01-04T14:02:32","modified_gmt":"2020-01-04T19:02:32","slug":"european-union-orders-seizure-of-depositors-savings","status":"publish","type":"post","link":"https:\/\/angry.net\/blog2\/?p=11268","title":{"rendered":"European Union orders seizure of depositors savings"},"content":{"rendered":"

Good day all. This story broke over the weekend, although exploded would be a better phrase. As most people know who actually pay attention to things, The European Union nations have spent themselves into bankruptcy.<\/p>\n

<\/p>\n

The latest EU country to seek a bailout is Cyprus. They are seeking a \u20ac<\/span>10 billion to recapitalize their banks and to stabilize their economy. This is pretty standard stuff for the EU, but there was one major change. The EU Finance ministers ordered that up to 10% of the bank depositors savings be seized. Needless to say, this came as a shock to every single depositor on the island. It\u2019s also started a run on the banks as people start withdrawing their savings or transferring it to accounts in other banks overseas.<\/p>\n

Since the markets opened this morning, the Euro has dropped, bank stocks, at least in Europe have dropped and the Cyprus government has ordered all the banks closed until Thursday. This is to give them time to have an actual formal vote to steal the depositors money and ship it back to the major banks backing the EU. (Considering that the EU is not a republic or a democracy, this vote is all but meaningless).<\/p>\n

To say the Cypriots are not happy is an understatement. Once word came out about the demands from the EU, they hit the ATM\u2019s as fast as they could, and promptly maxed out their transaction limits. Now with the banks closed, those ATM\u2019s are probably not being reloaded. Electronic Funds transfers have also been frozen, which is blocking corporate accounts and foreign nationals from protecting their money.<\/p>\n

In going through various news reports, one of the questions asked was \u201cHas this ever been done before?\u201d The answer is not in the EU zone. Now that a precedent has been set, people in Italy, Spain and other EU nations that are broke are starting to feel really nervous. People are asking \u201cWho\u2019s next?\u201d<\/p>\n

One of the big things about the Cyprus banks, is that they do a lot of money laundering for the Russian mob. Somehow, I doubt they are going to be very happy seeing 10% of their ill gotten gains being transferred to the Brussels Eurocrats. They might decide to make an example of some of these bankers and they have the \u201cpeople\u201d to do the job ((Spetznaz forces<\/a>)). I suspect that one of these EU finance ministers getting blown up might get the attention of the others. Certainly, the biggest mobster in Russia is making no secret that he isn\u2019t happy at this plan.<\/p>\n

Putin hits out at “dangerous” Cyprus bank deposit levy<\/p>\n

Russian President Vladimir Putin criticized on Monday a levy imposed by the European Union on bank deposits in Cyprus as unfair and setting a dangerous precedent.<\/p>\n

“While assessing the proposed additional levy on bank accounts in Cyprus, Putin said that such a decision, should it be made, would be unfair, unprofessional and dangerous,” Kremlin spokesman Dmitry Peskov told journalists.<\/p>\n

Russian citizens account for the majority of the billions of euros held in Cypriot banks by foreign depositors, and Russian banks are heavily exposed to the island as a favored offshore centre for big business<\/p>\n

Dangerous is right, but not in the way most people think. Putin probably has a pretty good sized slush fund there and he also has access to some really interesting \u201cParty Favors.\u201d As I mentioned earlier, if this really stupid idea is carried out, I see a good chance of \u201cBig Booms\u201d happening. (Or two shots to the back of the head) I also think that of the Cypriot government goes ahead with this stupid idea, the citizens are going to rip them apart.<\/p>\n

Now, could something like this happen here? It\u2019s come close a couple of times. Usually it\u2019s an attempt to grab the 401K and IRA accounts rather then loot people\u2019s savings accounts. The last time this was brought up was in 2010 by Senator Tom Harkin, (D- Iowa). The plan was to be called \u201cGuaranteed Retirement Accounts\u201d and would have allowed the outright seizure of the 401K\u2019s by the Social Security system. People would have a \u201cGuaranteed\u201d 3% interest rate for the their retirement savings. As of April, 2011, this amounted to $3 Trillion dollars ((Benefits Pro<\/a>)). IRA accounts, which weren\u2019t being targeted, are another $5-6 Trillion dollars. You can bet they would have gone after those next if Harkin and the Democrats had succeeded in grabbing the 401K\u2019s. The reason they want this money, besides the obvious, (Being able to loot it as they have with the Social Security funds), would have been to fully fund the labor unions pension funds. Those funds have been looted by the Union heads for decades, (Mostly to buy democrat politicians), and most of them are teetering on the brink of insolvency. Human events had an article on this back in 2010. I also wrote about it<\/a> myself.<\/p>\n

Needless to say, it didn\u2019t happen. That doesn\u2019t mean that the Progressive Liberal Democrats have given up on the idea. You can bet your bottom dollar they are looking at what the EU is trying to do and thinking about how they can do that here. I wonder if they will pay any attention to the riots that will no doubt happen if this bank account looting goes forward? I have no doubt that there are going to be out right riots, and I wouldn\u2019t be surprised at all if the Cypriot Government falls. (Or is strung up on meat hooks)<\/p>\n

If the Progressive Liberal Democrats decide to loot the savings and retirement accounts here, all bets are off. People are already furious at the tax grabs Obama and his thugs instituted in January. Go for the savings and retirement accounts? Well, they will need that 2 billion rounds of ammunition they ordered when the rebellion starts.<\/p>\n

Keep an eye open on what\u2019s happening over there. It might happen over here.<\/p>\n

Thatisall<\/p>\n

~The Angry Webmaster~<\/b><\/i><\/p>\n\"1\"2\"3\"4\"5 (2<\/strong> votes, average: 1.00<\/strong> out of 5)
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Cyprus banks shut till Thursday as government scrambles to amend …<\/h3>\n<\/div>\n
Green MP Caroline Lucas says the UK government is taking too soft a line with Cyprus’s savings levy. It is immoral and unfair to pilfer the savings of the people of Cyprus. Greg Clark replies that the decision to tax savings was taken by the …<\/div>\n
http:\/\/allthingsforex.com\/ \u2014 Mon, 18 Mar 2013 09:51:35 -0700<\/span><\/div>\n<\/div>\n
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Apocalypse 2010: Signs of the end in Current Events: After Cyprus …<\/a><\/h3>\n<\/div>\n
News that the International Monetary Fund initially demanded to loot a shocking 40% of savings from the private bank accounts of Cypriots underscores how residents of the Mediterranean country could be the latest victims of the infamous \u201cIMF riot,\u201d as the chief … The government of Cyprus is set to vote tomorrow on enforcing a \u201ctax,\u201d which in reality is nothing less than a confiscation of private wealth, that would hit savers with between 100,000 to 500,000 euros with a levy of 9.9%.<\/div>\n
http:\/\/apocalypse2010.blogspot.com\/<\/a> \u2014 Mon, 18 Mar 2013 09:40:00 -0700<\/span><\/div>\n<\/div>\n
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EndrTimes: Cyprus delays vote on tax raid on savings<\/a><\/h3>\n<\/div>\n
NICOSIA, Cyprus (AP) \u2014 A vote on a bailout package for Cyprus that includes an immediate tax on all savings accounts has been postponed until Tuesday evening. Yiannakis Omirou, the speaker of Parliament, said the delay was needed to …<\/div>\n
http:\/\/endrtimes.blogspot.com\/<\/a> \u2014 Mon, 18 Mar 2013 09:31:00 -0700<\/span><\/div>\n<\/div>\n
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Cyprus bailout threatens to backfire in Europe, U.S. | FOX6Now.com<\/a><\/h3>\n<\/div>\n
… is blowing up. Cyprus was scrambling Monday to win parliamentary support for a controversial plan to rescue the tiny island nation — a plan that now threatened to backfire on the European Union. … An unprecedented tax on bank deposits as part of the \u20ac10 billion rescue announced Saturday led to a run on cash machines in Cyprus. It also spooked … Analysts said the levy set a dangerous precedent and could undermine depositors’ belief that their savings are safe. \u201cThe Cyprus …<\/div>\n
http:\/\/fox6now.com\/<\/a> \u2014 Mon, 18 Mar 2013 09:10:37 -0700<\/span><\/div>\n<\/div>\n
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Colion Noir. Banks. Free Sh**! Marlin Firearms. Libertarianism …<\/a><\/h3>\n<\/div>\n
Global equities, the euro and oil have slumped after the eurozone demanded that Cyprus tax bank savings in return for a \u20ac10B bailout. Cyprus’ government is reportedly considering a tax-free threshold for smaller deposits as it attempts to win …<\/div>\n
http:\/\/maddmedic.wordpress.com\/<\/a> \u2014 Mon, 18 Mar 2013 09:09:42 -0700<\/span><\/div>\n<\/div>\n
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Cyprus bailout: savings tax is only way to prevent ‘catastrophe’ says …<\/h3>\n<\/div>\n
Cyprus bailout: assets taxation is usually approach to forestall ‘catastrophe’ says President \u2026 As open annoy on a island grew, Russia’s President Vladimir Putin this morning assimilated clever critique of a move. \u201cPutin pronounced such a …<\/div>\n
http:\/\/www.bmiinvest.com\/ \u2014 Mon, 18 Mar 2013 09:08:32 -0700<\/span><\/div>\n<\/div>\n
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CYPRUS DISASTER: Open dissent in Merkel’s CDU as Sch\u00e4uble’s …<\/a><\/h3>\n<\/div>\n
Meanwhile, people on Cyprus \u2013 and in Greece \u2013 are reacting to the deal with anger and disgust, many of them preparing to queue for 36 hours if necessary to withdraw as much of their savings as possible from ATMs before the confiscation … Chancellor Merkel has defended the bank deposit tax, but there is general agreement in German political circles that she pushed for the levy for domestic political reasons: she is determined to show the German electorate that foreigners getting …<\/div>\n
http:\/\/hat4uk.wordpress.com\/<\/a> \u2014 Mon, 18 Mar 2013 09:02:33 -0700<\/span><\/div>\n<\/div>\n
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Cyprus tax on deposits ‘unfair, unprofessional and dangerous …<\/h3>\n<\/div>\n
They are about to take YOUR SAVINGS! … Russian President Vladimir Putin has called a proposed tax in Cyprus on bank deposits that comes as part of an EU bailout deal \u201cunfair, unprofessional and dangerous,\u201d his spokesman said.<\/div>\n
http:\/\/cashmoney4silver.com\/ \u2014 Mon, 18 Mar 2013 09:01:28 -0700<\/span><\/div>\n<\/div>\n<\/div>\n
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Austerity’s limits: Will Congress notice? – Ridenbaugh Press<\/a><\/h3>\n<\/div>\n
As part of a bailout deal, that country’s government agreed to a tax on the savings accounts of its citizens ranging from 6.75 percent to 9 percent. The president of Cyprus said Sunday night it was either the tax or his country would have to leave …<\/div>\n
http:\/\/www.ridenbaugh.com\/<\/a> \u2014 Mon, 18 Mar 2013 08:59:17 -0700<\/span><\/div>\n<\/div>\n
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Cyprus Bailout: Savings Shift Amid Russia Offer | Dee 106.3<\/h3>\n<\/div>\n
Cyprus Bailout: Savings Shift Amid Russia Offer. Article Source. Sky News. Cyprus has ordered its banks to stay shut until Thursday as the government seeks to alter the terms of a controversial EU bailout that taxes savings. The uncertainty …<\/div>\n
http:\/\/www.dee1063.com\/ \u2014 Mon, 18 Mar 2013 08:38:28 -0700<\/span><\/div>\n<\/div>\n
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Cyprus Gets Bailed In Crossing Wall Street<\/a><\/h3>\n<\/div>\n
Cyprus has become a tax haven, and a lot of Russian oligarchs have used Cyprus’ banks in order to stash their earned cash from, shall we say, unsavory activities. That’s really who the authorities are going after. As a result of Cyprus’ tax …<\/div>\n
http:\/\/www.crossingwallstreet.com\/<\/a> \u2014 Mon, 18 Mar 2013 08:09:45 -0700<\/span><\/div>\n<\/div>\n
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Newsflash from UK: EU Bank Raid in Cyprus = Daylight Robbery<\/a><\/h3>\n<\/div>\n
Austerity took a new twist when the EU, with breath-taking autocratic arrogance, seized 10% of the savings of ordinary Cypriots over the past weekend. The new PM of … So the EU invented a new sort of tax, a “deposit tax”. Whatever money …<\/div>\n
http:\/\/juliagasper.blogspot.com\/<\/a> \u2014 Mon, 18 Mar 2013 07:56:00 -0700<\/span><\/div>\n<\/div>\n
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Pension Pulse: The Cypriot Crisis?<\/a><\/h3>\n<\/div>\n
They called it a ‘stability levy’, when they meant a tax on Cypriot depositors (including the savings of poor widows and small children) so that they spare holders of Cypriot government bonds (including hedge funds who are now having a party …<\/div>\n
http:\/\/pensionpulse.blogspot.com\/<\/a> \u2014 Mon, 18 Mar 2013 07:48:00 -0700<\/span><\/div>\n<\/div>\n
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Expats in Cyprus Furious at ‘Legalised Theft’ of Their Savings<\/a><\/h3>\n<\/div>\n
Britons living in Cyprus are outraged by the Cypriot government’s plans to impose a levy on bank deposits, with many desperately trying to withdraw their savings before tax is enforced.<\/div>\n
http:\/\/librabunda.blogspot.com\/<\/a> \u2014 Mon, 18 Mar 2013 07:47:00 -0700<\/span><\/div>\n<\/div>\n
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Banking Chief Calls For 15% Looting of Italians’ Savings …<\/h3>\n<\/div>\n
The government of Cyprus is set to vote tomorrow on enforcing a \u201ctax,\u201d which in reality is nothing less than a confiscation of private wealth, that would hit savers with between 100,000 to 500,000 euros with a levy of 9.9%. Those with over half a …<\/div>\n
http:\/\/revolutionradio.org\/ \u2014 Mon, 18 Mar 2013 07:40:32 -0700<\/span><\/div>\n<\/div>\n
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The Greek farce that could become an EU tragedy<\/h3>\n<\/div>\n
It’s about Cyprus, which, like every other nation in the EC except Germany, is, er\u2026 feeling the pinch. Now its banks have run out of money. To save the banks, some genius has suggested that the Cypriot government taxes all savings held in …<\/div>\n
http:\/\/ffrees.co.uk\/blog\/ \u2014 Mon, 18 Mar 2013 07:36:16 -0700<\/span><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good day all. This story broke over the weekend, although exploded would be a better phrase. As most people know who actually pay attention to things, The European Union nations have spent themselves into bankruptcy. Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":899,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[3,100,8,115],"tags":[15,17,24,34,64],"class_list":["post-11268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crime","category-moonbat","category-politics","category-stupidity-crime","tag-incompetence","tag-liberty","tag-socialism","tag-stupidity","tag-taxes"],"views":1540,"jetpack_featured_media_url":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2009\/09\/marvin.png?fit=305%2C420&ssl=1","jetpack-related-posts":[{"id":11331,"url":"https:\/\/angry.net\/blog2\/?p=11331","url_meta":{"origin":11268,"position":0},"title":"EU now going to steal 40% of depositors money","author":"Angry Webmaster","date":"March 25, 2013","format":false,"excerpt":"As you may recall, the Cyprus banking structure pretty much collapsed a little over a week ago. The European Union decided the best way to fix things was to steal 10% of the bank depositors money.","rel":"","context":"In "Crime"","block_context":{"text":"Crime","link":"https:\/\/angry.net\/blog2\/?cat=3"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2009\/09\/marvin.png?fit=305%2C420&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11276,"url":"https:\/\/angry.net\/blog2\/?p=11276","url_meta":{"origin":11268,"position":1},"title":"First Cyprus, now New Zealand","author":"Angry Webmaster","date":"March 19, 2013","format":false,"excerpt":"In the No Bad Idea Goes Unused department, it seems that New Zealand is about to do the same thing to its bank depositors that Cyprus is about to do to their depositors. Rob the accounts of the people who had the misfortune to put their money in a bank\u2026","rel":"","context":"In "Moonbat"","block_context":{"text":"Moonbat","link":"https:\/\/angry.net\/blog2\/?cat=100"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2013\/02\/the-crazy-train.jpg?fit=544%2C416&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2013\/02\/the-crazy-train.jpg?fit=544%2C416&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2013\/02\/the-crazy-train.jpg?fit=544%2C416&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":39946,"url":"https:\/\/angry.net\/blog2\/?p=39946","url_meta":{"origin":11268,"position":2},"title":"The SVB Bank Collapse","author":"Angry Webmaster","date":"March 13, 2023","format":false,"excerpt":"Good day all. I haven\u2019t written anything about the recent collapse of the SVB Bank in Kalifornistan. one reason is that there is a lot regarding this collapse that I just flat do not know, or in many cases understand. The other is that this is still an ongoing mess\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/angry.net\/blog2\/?cat=176"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/i.pinimg.com\/originals\/74\/7e\/c1\/747ec14281cf61ae5131ade421038678.jpg?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":11336,"url":"https:\/\/angry.net\/blog2\/?p=11336","url_meta":{"origin":11268,"position":3},"title":"Democrats: \u201cAbout that balanced budget\u201d","author":"Angry Webmaster","date":"March 26, 2013","format":false,"excerpt":"Well, with all the talk about the European Union ripping off bank depositors, we haven\u2019t mentioned that, after 4 years, the United States Senate has deigned to propose a budget. Just one small problem. It doesn\u2019t balance and in fact will make things even worse.","rel":"","context":"In "Moonbat"","block_context":{"text":"Moonbat","link":"https:\/\/angry.net\/blog2\/?cat=100"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2010\/02\/barking_moonbat3.jpg?fit=250%2C244&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":23458,"url":"https:\/\/angry.net\/blog2\/?p=23458","url_meta":{"origin":11268,"position":4},"title":"EU considers Donald Trump an \u201cExternal threat\u201d","author":"Angry Webmaster","date":"February 2, 2017","format":false,"excerpt":"Good day all. Last summer, the British staged their \u201cGreat Escape\u201d when the voted to pull out of the European Union. Brexit, much like the election of Donald Trump, came as a massive shock to the European elites who are governing ruling Europe.","rel":"","context":"In "History"","block_context":{"text":"History","link":"https:\/\/angry.net\/blog2\/?cat=5"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2016\/09\/seen-coming-242x300.jpg?resize=350%2C200","width":350,"height":200},"classes":[]},{"id":24082,"url":"https:\/\/angry.net\/blog2\/?p=24082","url_meta":{"origin":11268,"position":5},"title":"EU to Britain: Do what we say or you will be arrested","author":"Angry Webmaster","date":"April 25, 2017","format":false,"excerpt":"Good day all. The love affair between the European Union and Great Britain continues. Now that the British have formally filed for divorce, the EU Bureaucrats are still not ready to let go.","rel":"","context":"In "News of the Day"","block_context":{"text":"News of the Day","link":"https:\/\/angry.net\/blog2\/?cat=71"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/angry.net\/blog2\/wp-content\/uploads\/2014\/10\/snob_che_frame-215x300.jpg?resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts\/11268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11268"}],"version-history":[{"count":16,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts\/11268\/revisions"}],"predecessor-version":[{"id":30152,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/posts\/11268\/revisions\/30152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=\/wp\/v2\/media\/899"}],"wp:attachment":[{"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/angry.net\/blog2\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}