Cyprus haircut

[PoliticalNick]

So what is the deal with this story. The banks in Cyprus want a bailout from the EU and want to take 10% of every deposit they hold to pay for the deal. Not enough that they want the taxpayers to give them billions but then they want to use money stolen from their customers to pay the debt. The Govt and banks are obviously in collusion here. Clearly there is a genuine danger of a full-scale bank run as everyone wants to pull all their money out before getting hit with the robbery so the banks have kept their doors closed all week and don`t plan to reopen til next Tuesday or possibly later.

There are concerns spreading that this tactic may spread and be tried in other countries including the US & Britain which could lead to the beginning of the end and the complete collapse of the global banking system if the people refuse to go along with it.

Cyprus banks won't open before Tuesday at earliest - World - CBC News

 

[lone wolf]

In some places, they'd call it a tax

 

[wulfie68]

In some places, they'd call it a tax

Not quite: a tax is imposed by the government. The banks wanting to do this is breach of contract.

 

[Goober]

So what do they do?

 

[Tecumsehsbones]

Not quite: a tax is imposed by the government. The banks wanting to do this is breach of contract.

Actually, it is a tax. It's being proposed by the Cypriot parliament.

 

[Goober]

Actually, it is a tax. It's being proposed by the Cypriot parliament.

They all could have imposed the same tax on corporations on the Island. Nearly 10 % ownership. Just a small slice please.
The reality is if they do not arrive at a deal the banks fail. And people,small and large companies with deposits will get lees than what would be left after the govt imposed the tax.

 

[taxslave]

All this will do is create a run on the banks and the rich taking their money elsewhere.

 

[damngrumpy]

The question is what do they do? First the bankers who created this mess should go to jail
From there they should go after every tax incentive paid to the companies that they could not
afford in the first place. The government should resign
At some point the public has to pay for the mess but the wealth of the bankers should be
taken to pay for the mess the bankers made.
It is also time for the government to be honest with the people and explain why they are going
to pay this thing down together.
Simply allowing governments and banks to take ten percent from depositors accounts sets a
dangerous precedent for the rest of the world it cannot be unilaterally allowed.

 

[captain morgan]

They all could have imposed the same tax on corporations on the Island. Nearly 10 % ownership. Just a small slice please.
The reality is if they do not arrive at a deal the banks fail. And people,small and large companies with deposits will get lees than what would be left after the govt imposed the tax.

The Cyprus banks are doomed if they even suggest it. As has been mentioned, those banks will will have a run on them by depositors and they will cease to exist. Further, the gvt in Cyprus depends on the low tax rates to attract the depositors capital (the only reason why the money goes there). If they f*ck with increasing rates, the money will flee to cheaper jurisdictions, not to mention the reputation of the financial sector will collapse such that it will never recover.

The question is what do they do? First the bankers who created this mess should go to jail
From there they should go after every tax incentive paid to the companies that they could not
afford in the first place.

I guess that the cultural philosophy of entitlement has nothing to do with it, eh?

 

[darkbeaver]

The Cyprus banks are doomed if they even suggest it. As has been mentioned, those banks will will have a run on them by depositors and they will cease to exist. Further, the gvt in Cyprus depends on the low tax rates to attract the depositors capital (the only reason why the money goes there). If they f*ck with increasing rates, the money will flee to cheaper jurisdictions, not to mention the reputation of the financial sector will collapse such that it will never recover.




I guess that the cultural philosophy of entitlement has nothing to do with it, eh?

Well Captn I would say you are right about the "cultural philosophy of entitlement" now if you could suggest a method short of war to curb the bankers and their corporate bag men from their murderous culture of entitlement the little guy might follow suit, for all the bleeding good that would do. Collapse is certain they say, and this summer they suggest, there's no logical repair they reason, there never was, that's the terminal debt based confidence game for you. Support the collapse now or endure it later they used to say. It's pretty late already they caution. Chickens are a sound investment.

 

[PoliticalNick]

So a deal has been done that proves to be one of the biggest, farcical, money grabs in recent history. The second largest bank in Cyprus will close it's doors and any deposits over $100,000 Euros will be gone with NO recourse. All banks will remain closed until Thursday morning and a withdrawal limit of $100 Euros is imposed until all accounts are raided for up to 40% of their value.

The bankers and financiers responsible for this global mess since 2008 seem to be coming out smelling like roses while the general public continues to pay for the clean-up. If I were a Cypriot right now I would be loading up and going hunting bankers and the govt officials that allowed the bankers to do this.

 

[CDNBear]

So a deal has been done that proves to be one of the biggest, farcical, money grabs in recent history. The second largest bank in Cyprus will close it's doors and any deposits over $100,000 Euros will be gone with NO recourse. All banks will remain closed until Thursday morning and a withdrawal limit of $100 Euros is imposed until all accounts are raided for up to 40% of their value.

The bankers and financiers responsible for this global mess since 2008 seem to be coming out smelling like roses while the general public continues to pay for the clean-up.

You had a thumbs up coming, until...

If I were a Cypriot right now I would be loading up and going hunting bankers and the govt officials that allowed the bankers to do this.

... you posted that moronic statement.

 

[PoliticalNick]

You had a thumbs up coming, until...

... you posted that moronic statement.

What's moronic is people like you bending over for the bankers and the govt lackeys on their payroll. You are obviously a ball-less wonder who would give up 40% of your life savings without complaint or a fight so some bank CEO can get a multi-million dollar bonus. If there weren't so many sheeple like you in the US their citizens wouldn't be burdened with over a trillion bucks in bailout debt while having their homes foreclosed on. Kind of like getting it from a double-dong at the same time. They should have lined up all the bankers and anyone in govt responsible, taken all their assets to the last nickel, and given them all the death penalty. This "global financial crisis" as they like to call it has been the biggest single transfer of wealth from the poor to the rich in all history and most idiots like you have been spoon-fed the kool-aid to believe it is all for the better. You are a f*cking idiot and deserve to lose all your savings and pension etc to the d*ck-heads on Wall St and their 'bought & paid for' govt.

 

[CDNBear]

What's moronic is people like you bending over for the bankers and the govt lackeys on their payroll. You are obviously a ball-less wonder who would give up 40% of your life savings without complaint or a fight so some bank CEO can get a multi-million dollar bonus. If there weren't so many sheeple like you in the US their citizens wouldn't be burdened with over a trillion bucks in bailout debt while having their homes foreclosed on. Kind of like getting it from a double-dong at the same time. They should have lined up all the bankers and anyone in govt responsible, taken all their assets to the last nickel, and given them all the death penalty. This "global financial crisis" as they like to call it has been the biggest single transfer of wealth from the poor to the rich in all history and most idiots like you have been spoon-fed the kool-aid to believe it is all for the better. You are a f*cking idiot and deserve to lose all your savings and pension etc to the d*ck-heads on Wall St and their 'bought & paid for' govt.

You really need to learn how to read, here let me help you out since you obviously have great difficulty understanding very simple things...

You had a thumbs up coming...

Geez, that usually indicates that someone agrees with you.

But hey, you go on all silly and stupid, it is your usual MO and all, lol.

Is there any wonder why I highly doubt you're going to school to become an engineer?

 

[PoliticalNick]

You really need to learn how to read, here let me help you out since you obviously have great difficulty understanding very simple things...

Geez, that usually indicates that someone agrees with you.

But hey, you go on all silly and stupid, it is your usual MO and all, lol.

Is there any wonder why I highly doubt you're going to school to become an engineer?

So you agree that the bankers and govt lackeys are f*cking over the citizens but you don't agree that the citizens should put an end to it all by any means necessary. We should just take it up the a$$ with a big smile and a thank-you? Is that your position?

My position is shoot the mother-f*ckers, take all their wealth and redistribute it back the the citizens. Then dismantle the govt completely and start again from scratch with a responsible & accountable govt who serves the people, not the banks and corporate donors. We should at least follow the lead of Iceland, indite all the bankers and the govt, lock them all up and re-write the constitution to prevent this sh*t from happening again.

 

[CDNBear]

So you agree that the bankers and govt lackeys are f*cking over the citizens but you don't agree that the citizens should put an end to it all by any means necessary. We should just take it up the a$$ with a big smile and a thank-you? Is that your position?

No, my position is that shooting unarmed civilians is murder and you're an idiot.

My position is shoot the mother-f*ckers, take all their wealth and redistribute it back the the citizens. Then dismantle the govt completely and start again from scratch with a responsible & accountable govt who serves the people, not the banks and corporate donors.

Yes, we're all aware you shouldn't be allowed to own firearms.

Get help.

 

[PoliticalNick]

No, my position is that shooting unarmed civilians is murder and you're an idiot.

They are not your 'next door neighbor' type of unarmed civilians. They are nothing more than crooks, thieves on a massive scale that deserves the death penalty. 100 years ago before moronic bleeding-hearts like you came about they would have been flogged and hung in the public square to set an example to others. We need to get back to that immediate & harsh justice mentality to put our world back in order before passive idiots like you have us all forever enslaved to the rich and power-hungry.

Yes, we're all aware you shouldn't be allowed to own firearms.

Well I do own them, and I keep some loaded at all times. My H&K .44 is in my nightstand with nothing but the safety between a burglar and a bullet and if more people were like that the world would be a safer place

Get help.

I don't need help, I'm well armed and know how to use them.

 

[Colpy]

They are not your 'next door neighbor' type of unarmed civilians. They are nothing more than crooks, thieves on a massive scale that deserves the death penalty. 100 years ago before moronic bleeding-hearts like you came about they would have been flogged and hung in the public square to set an example to others. We need to get back to that immediate & harsh justice mentality to put our world back in order before passive idiots like you have us all forever enslaved to the rich and power-hungry.


.

CDN BEAR IS A BLEEDING HEART?????

Who'd a thunk it???

 

[CDNBear]

They are not your 'next door neighbor' type of unarmed civilians. They are nothing more than crooks, thieves on a massive scale that deserves the death penalty. 100 years ago before moronic bleeding-hearts like you came about they would have been flogged and hung in the public square to set an example to others.

You mean moronic bleeding hearts that believe in jurisprudence? Due process?

Funny, you scream for justice when you think cops have crossed a line, but when a group you don't like comes along, you don't believe they deserve the same respect.

You're a hypocrite, and not a very bright one a that.

I remember not so long ago, you crying and whining about a Preacher burning Qurans.

And here you are, advocating murder.

Do you think about what you say before you say it at all?

We need to get back to that immediate & harsh justice mentality to put our world back in order before passive idiots like you have us all forever enslaved to the rich and power-hungry.

LOL, you really don't need to write stupid things for each one of your posts, we all know you by now.

Well I do own them...

That's scary. You shouldn't.

I don't need help, I'm well armed and know how to use them.

That's not the help you need.

CDN BEAR IS A BLEEDING HEART?????

Who'd a thunk it???

People bereft of even the most limited commonsense, ability to read, use reason or think clearly.

 

[PoliticalNick]

That's scary. You shouldn't.

Some I own for hunting and are scary to animals. Some I own for personal protection and are meant to be scary to people. Fact is if I have to use one for protection I'm not trying to be friendly.

There is absolutely no legal or lawful reason I shouldn't own any of them. Your opinion means nothing. You really are a f*cking dummy aren't you.