Cyprus haircut

Cyprus haircut

View Poll Results: Should banks be able to take money from it`s depositors to pay for govt bailoutsÉ
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PoliticalNick

#1Mar 20th, 2013

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

Re: Cyprus haircut

Mar 20th, 2013

In some places, they'd call it a tax

wulfie68

#3 Top Rated Post

Re: Cyprus haircut

Mar 20th, 2013

Quote: Originally Posted by lone wolf

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

Re: Cyprus haircut

Mar 20th, 2013

So what do they do?

Tecumsehsbones

Re: Cyprus haircut

Mar 20th, 2013

Quote: Originally Posted by wulfie68

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

Re: Cyprus haircut

Mar 20th, 2013

Quote: Originally Posted by Tecumsehsbones

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

Re: Cyprus haircut

Mar 20th, 2013

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

damngrumpy

Re: Cyprus haircut

Mar 20th, 2013

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

Re: Cyprus haircut

Mar 20th, 2013

Quote: Originally Posted by Goober

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.

Quote: Originally Posted by 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.

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

darkbeaver

#10

Re: Cyprus haircut

Mar 23rd, 2013

Quote: Originally Posted by captain morgan

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

#11

Re: Cyprus haircut

Mar 25th, 2013

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

#12

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by 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.

You had a thumbs up coming, until...

Quote:

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

-1

#13

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by CDNBear

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

#14

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by PoliticalNick

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...

Quote: Originally Posted by CDNBear

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

#15

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by CDNBear

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

#16

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by PoliticalNick

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.

Quote:

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

-1

#17

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by CDNBear

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.

Quote:

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

Quote:

Get help.

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

Colpy

#18

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by PoliticalNick

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

#19

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by PoliticalNick

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?

Quote:

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.

Quote:

Well I do own them...

That's scary. You shouldn't.

Quote:

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

That's not the help you need.

Quote: Originally Posted by Colpy

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.

Last edited by CDNBear; Mar 25th, 2013 at 08:58 PM..

PoliticalNick

-1

#20

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by CDNBear

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.

CDNBear

#21

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by PoliticalNick

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's a world of difference between protection, and gunning down a by law officer, or banker, or whatever, simply because you're angry.

You are the very reason gun control should exist.

Quote:

There is absolutely no legal or lawful reason I shouldn't own any of them.

You mental state is one reason you shouldn't.

Quote:

Your opinion means nothing.

It's only based on the idiotic things you say.

Quote:

You really are a f*cking dummy aren't you.

I can only imagine that that is how I must appear to someone who advocates wholesale murder of unarmed civilians and by law officers.

darkbeaver

#22

Re: Cyprus haircut

Mar 25th, 2013

You appear that way to me as well. I don't got no guns. I do got one somewhere but I haven't seen it in years.

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CDNBear

#23

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by darkbeaver

You appear that way to me as well.

That's because you share so many similarities with PN. Where he advocates killing unarmed people, you advocate for the genocide of Jews.

darkbeaver

-1

#24

Re: Cyprus haircut

Mar 25th, 2013

Private bankers will become things of the past, and I emphasize things. Things like monsters without morals or ethics sick perverts and mass murdering basterds that should not be permitted freedoms in any civilized nation ever.

PoliticalNick

-1

#25

Re: Cyprus haircut

Mar 25th, 2013

Quote: Originally Posted by CDNBear

There's a world of difference between protection, and gunning down a by law officer, or banker, or whatever, simply because you're angry.

I'm just protecting me and my property from those that would do me harm. There is no anger involved.

Quote:

You are the very reason gun control should exist.

Not at all. The ONLY gun control should be for violent criminals and the mentally ill.

Quote:

You mental state is one reason you shouldn't.

You are not qualified to comment on my mental state in any way. You do not know me nor are you a psychologist or psychiatrist. All you know is I own multiple firearms and am quite proficient with them and am not afraid to use them if the circumstance requires. Whether you never get up or just get a permanent limp is entirely dependent upon the threat to me or my family.

Quote:

I can only imagine that that is how I must appear to someone who advocates wholesale murder of unarmed civilians and by law officers.

Oh, I don't think wholesale murder is required. I think that once the first few bankers and corrupt govt lackeys get taken care of the rest will change their ways and beg for mercy....of course if they can't take the hint and see reason then....

CDNBear

#26

Re: Cyprus haircut

Mar 26th, 2013

Quote: Originally Posted by darkbeaver

Private bankers will become things of the past, and I emphasize things. Things like monsters without morals or ethics sick perverts and mass murdering basterds that should not be permitted freedoms in any civilized nation ever.

I don't think we should go so far as to strip PN of his freedoms. Just the ability to posses firearms.

Quote: Originally Posted by PoliticalNick

I'm just protecting me and my property from those that would do me harm. There is no anger involved.

Ya, we all know how dangerous by law officers are.

Quote:

The ONLY gun control should be for violent criminals and the mentally ill.

Which is why you should be barred from owning firearms.

Quote:

You are not qualified to comment on my mental state in any way. You do not know me nor are you a psychologist or psychiatrist. All you know is I own multiple firearms and am quite proficient with them and am not afraid to use them if the circumstance requires.

I don't know that you're proficient with them.

I do know you advocate shooting bylaw officers, and unarmed civilians.

I don't need to know anything else to know you shouldn't be allowed to own firearms.

Quote:

Whether you never get up or just get a permanent limp is entirely dependent upon the threat to me or my family.

Ya, we all know how dangerous those bylaw officers are.

Quote:

Oh, I don't think wholesale murder is required. I think that once the first few bankers and corrupt govt lackeys get taken care of the rest will change their ways and beg for mercy....of course if they can't take the hint and see reason then....

By all means, keep posting the proof that you shouldn't be allowed to own firearms.

PoliticalNick

#27

Re: Cyprus haircut

Mar 30th, 2013

Cyprus details heavy losses for major bank customers | Reuters

Quote:

(Reuters) - Major depositors in Cyprus's biggest bank will lose around 60 percent of savings over 100,000 euros, its central bank confirmed on Saturday, sharpening the terms of a bailout that has shaken European banks but saved the island from bankruptcy.

So the final word came down Saturday and the word is a big 'F*ck-You' to the people of Cyprus. The raiding of deposits is now set at over 60% of their value and it is not like the people can withdraw what is left, they will be issued shares in the bank worth 37.5% of the value of their deposits.

Quote:

But the official decree published on Saturday confirmed a Reuters report a day earlier that the bank would give depositors shares worth just 37.5 percent

This is grand-theft on the grandest scale ever seen. The bankers will continue on their merry way not losing anything personally and most likely getting richer while the average citizen will face terrible economic hardship and lose huge chunks of their life savings and accumulated wealth to speak nothing of the hit on the overall economy as massive job-losses are predicted.

While the top bank-employed economists in Europe keep declaring this is not a harbinger of things to come for other struggling economies like Greece & Ireland those not beholden to the bankers & govts express deep concern that this tactic will spread even to a global level.

Liberalman

#28

Re: Cyprus haircut

Mar 31st, 2013

Mattress for sale can also be used for a personal bank.

Machjo

#29

Re: Cyprus haircut

Mar 31st, 2013

Quote: Originally Posted by wulfie68

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

It's the government that will pass the law and the banks will merely obey the law. The banks closed their doors in panic as soon as the government mentioned it was thinking of doing this. They don't want a bank run.

darkbeaver

#30

Re: Cyprus haircut

Mar 31st, 2013

Government thinking !!!!!!!!! Are you mad? All thought is bank thought all thought serves the permanent entrenched hereditary wealthy banking cartel.

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