European Union is robbing its citizens' bank accounts. 9.9% to be confiscated.

[Mike Christ]

That's not the only tax they're pushing either.  In April, they're supposed to be taxing people for having spare bedrooms.  If you don't have the required amount of people in your home to fit your rooms, you'll get taxed pretty heavily. 

However, if you live in a mansion, rest assured that you are completely exempt from this tax.  Phew!  Close one, right?  Wouldn't want those millionaires to pay for hundreds of empty rooms.

Here's the article if anyone's missed it.

But really, 9.9% tax for having money.  I wonder how long the public will stand for this?  Doesn't even matter where that money is going, this is legalized theft.

[Raoul Duke]

Just waiting for them to tax you for breathing

[Monster Tent]

Just waiting for them to tax you for breathing

http://en.wikipedia.org/wiki/Carbon_tax

[Raoul Duke]

Just waiting for them to tax you for breathing

http://en.wikipedia.org/wiki/Carbon_tax

I think we humans still breathe oxygen, not carbon. Or maybe they'll start taxing us because we keep the oxygen and expel carbon dioxyde? lol

[niko]

It's not your money in that bank account; it's their money. You don't issue it, you don't own it, you don't control it. You are simply allowed to use it under strict terms of those who issue it, own it, and control it.

Bitcoin, on the other hand...

[DoomDumas]

*chanting* RUN ON THE BANK, RUN ON THE BANK, RUN ON THE BANK!

+1

A massive worldwide bankrun could crash this broken system once and for all.. why let them do it slowly and painfully, let's do it FAST !

I do not let any amount in banks.. Can't trust any

[🏰 TradeFortress 🏰]

In the US, they would just print 11.1% more money. Same effect, but people don't realize.

[brekyrself]

In the US, they would just print 11.1% more money. Same effect, but people don't realize.

One of the many reasons why the Euro is still stronger vs the US dollar.

[poly]

*chanting* RUN ON THE BANK, RUN ON THE BANK, RUN ON THE BANK!

+1

A massive worldwide bankrun could crash this broken system once and for all.. why let them do it slowly and painfully, let's do it FAST !

I do not let any amount in banks.. Can't trust any

Another massive bank was on the verge of a full scale bank run until the Federal Reserve injected emergency liquidity.. The GFC would have turned out a lot different if there wasn't that action.

[Frequency]

The 9,9% nr is only true when your account has more than >100.000€
It is 6,75% if your account is <100.000

Still sucks when involved but we must keep nr right....

The problem for EU people is that the Cyprus bank are LOADED with Russian blackmoney, and now the Cyprus bank gets saved with EU taxpayer money witch is unfar offcourse....and they steal savings from at lot of people nomatter black or legit money...

[poly]

The 9,9% nr is only true when your account has more than >100.000€
It is 6,75% if your account is <100.000

Still sucks when involved but we must keep nr right....

The thing is, if you had 99,999 EUR, then you pay 6.75%.

If you had 100,001 EUR, you would pay 9.9% of the whole amount, not just the euro that exceeded it.

It's flawed but likely intended.

[Vladimir]

zeroday, sorry to hear that you got affected by this.

There is another thread on this BTW https://bitcointalk.org/index.php?topic=153959.0

History shows that somehow the politburo manages to secure whatever insane votes they want from the client states.

Ironically it is now absolutely irrelevant whether Cypriot Parliament approves the robbery. Either case there will be a bank run in Cyprus.

Question really is whether it will be precipitated by bank runs in Italy, Greece, Spain and Portugal on Monday (even before showdown in Cyprus on Tuesday) and whether it will spill over to France, Germany and UK.

But I bet that Cypriot politicians will have no balls to hang the bankers on lamposts (figuratively speaking) declare default and exit from the EU and start issuing their own money without any private central bank.

If I was a benevolent dictator of Cyprus, I would buy a bunch of bitcoins quetly, order a shitload of ASIC miners and adopt Bitcoin as reserve currency while using a state issued currency (Drahma?) in interim. Though risking US/Turkish invasion is not a small feat.

[niko]

If I was a benevolent dictator of Cyprus, I would buy a bunch of bitcoins quetly, order a shitload of ASIC miners and adopt Bitcoin as reserve currency while using a state issued currency (Drahma?) in interim. Though risking US/Turkish invasion is not a small feat.

There was recently one benevolent dictator who did not push his people into debt to international bankers, held lots of gold, and worked on gold-backed pan-African currency. Armed rebelion was organized and supported by several powerful countries, and he and most of his familiy was ultimately murdered.

[Vladimir]

indeed, it's a good thing I am not the benevolent dictator.

It is much safer to accept whatever bribe in form of cushy well paid job in Brussels a few years down the road in exchange for betraying your people.

[Jaques]

It's not your money in that bank account; it's their money. You don't issue it, you don't own it, you don't control it. You are simply allowed to use it under strict terms of those who issue it, own it, and control it.

Bitcoin, on the other hand...

this!

[stevegee58]

I have to admit that when I read OP's post my first thought was it was something from Alex Jones/prisonplanet.

The story seems legit.

[Vladimir]

The story seems legit.

jeeez https://twitter.com/search/realtime?q=cyprus

[JohnD]

I do not think that there was another real option for cyprus. The whole bank system in cyprus would crash and then all the money would be lost. Now are "only" 9.9% affected.

Cyprus cannot just print more money so what else should they do?

[stevegee58]

I do not think that there was another real option for cyprus. The whole bank system in cyprus would crash and then all the money would be lost. Now are "only" 9.9% affected.

Cyprus cannot just print more money so what else should they do?

Um, let's see.  Stop spending so much money?  Cut extravagant social programs they could never have afforded anyway?

[creativex]

I do not think that there was another real option for cyprus. The whole bank system in cyprus would crash and then all the money would be lost. Now are "only" 9.9% affected.

Cyprus cannot just print more money so what else should they do?

Um, let's see.  Stop spending so much money?  Cut extravagant social programs they could never have afforded anyway?

Pfft RIDICULOUS! Then those in power would be blamed and tossed out of office. They'd lose power.