Monday, March 25, 2013

Banks Start Stealing Deposits


Cyprus, you went to bed Friday night and come Monday your account is frozen so the Banks can get a bailout!

No time to dink around with this, the governments and banks are testing the water to just take your money!

From RT News:

Deposits below €100,000 will be shifted from Laiki to the Bank of Cyprus to create a “good bank.” Deposits larger than €100,000, which are not guaranteed under EU law, will be frozen and used to resolve debts. Customers could lose up to 40 percent of their savings in exchange for shares. According to Dijsselbloem, the raid on uninsured Laiki depositors is expected to raise €4.2 billion.

Warren Pollock - a market analyst and financial adviser says the financial turmoil in Cyprus is part of a broader crisis.

“In reality, this is a global problem which has not been addressed since 2007-2008 and previous to that with the issuance of huge amounts of debt and leverage into the system both in Europe and in the United States,” he told RT.

“And when that debt goes bad, the only recourse which exists is to tap remaining collateral in the system which is the savings.”Pollock believes that sooner or later this “sort of stealing” of savings may result in popular unrest. “We can definitely see smaller countries being the test to see whether savings could be stolen on a wider scale.” (stop from RT News)

The play of Chess on World Banks

All the King's Horses all the King's Men,  Cyprus Bank is like the Cayman Islands Banks,  a safe haven for money, well not so safe today.  The accounts on withdrawing for funds to pay this debt are over 100,000 euros which are 128,560 US dollars, but the euro is falling as I write this.  A third of these accounts are said to be held by Russia,  now 1.1 million people live in Cyprus,  the banks held 68 billion euros in deposits, including 38 billion in accounts of more than 100,000 euros,  enormous sums for a nation of people that could never sustain such a big financial system on its own.

This is history of a Financial War breaking out today, this all started with their phrase of "Financial Crisis"  The selling of investment by Banks which the leading provider for Greece was JP Morgan Chase,  now were just not going to leave JP Morgan Chase holding the bag, the names of many Banks worldwide were involved in the Subprime Scandal, Swaps and other Derivatives.  From there we get the collapse right?  But what has happen here the average person is on hard times and he or she is not spending money.  So the Feds bail out the Banks on the backs of the US Citizen (thank you) and it's not enough as your seeing today the freezing of assets.  

So where is all the money?  That's right Pod, in safe haven accounts around the world.  What were seeing here is a Big Boys' play, you sold me some crap paper so I'm taking your money to help pay for damages.  This was bound to happen, look at a "milk pail" as a financial machine and it's top cream always being skimmed before the rest of us get a take.  Now that this bucket is sloshing around the bottom of the pail not much to go after, so what do you do?  Right again Pod, go after the ones who gained from the Subprime Scandal,  you have to park your money somewhere.  68 billion in euros parked in accounts on this Island, wonder what the Cayman Island Banks hold?  Do you realize how many accountants are working late tonight?   Sweet Dreams!      

No need to panic here, we're just restructuring the Banks with your money! 

The head of the Eurogroup said the Cyprus rescue represented a new template for resolving euro zone banking problems and those other countries may have to restructure their banks.

Read More RT News:

From AP to advert Run on Banks

Boris Berezovsky's billions

Wall Street Likes the 40% Haircut!

Cyprus Restructuring and Limits

Like the old Who album, "Who's Next"?  Is it getting chilly in The Cayman's as time for a freeze!  

 New Money, Bit Coins have doubled in market value since March 4th 2013

Video uploaded by U Tube user RussiaToday


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