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

[Puppet]

I read that the 6-10% levy was a solution brought forward by the Cypriote government and not the EU.
Having the 100k deposits protected was entirely due to people taking to the streets.

That's quite something else than what you're saying.

Of course the Cypriot government will blame the EU. In most EU countries the governments take credit for anything they do right and will gladly blame the EU for anything that goes wrong:
Not that its  always completely unwarranted,  but still..

[Akka]

Germany has just robbed and raped Cyprus. I don't see reason why should Cypriots stay with EUR as it will only put them in the abyss of further debts.

So you are saying German Taxpayers should bailout Cyprus. And the people there should pay nothing at all.

Why should I pay for bailing out banks on a Island I never was before?

Also Cypriots received crazy interest rates on their account for several years. It's time people learn that interest earning is not risk fee. You get money for lending out money in the moment you put your money in an account it's not yours anymore.

Greek has already loaded every German indirectly citizen with additional debt and Cyprus will again. Yet I see no burning Cyprus Flags in German streets.

Blame this disaster on the Banks, but not on the people that pay the bill.

Also, I find you avatar greatly offensive.

[alexeft]

So you are saying German Taxpayers should bailout Cyprus. And the people there should pay nothing at all.

Why should I pay for bailing out banks on a Island I never was before?

Also Cypriots received crazy interest rates on their account for several years. It's time people learn that interest earning is not risk fee. You get money for lending out money in the moment you put your money in an account it's not yours anymore.

Greek has already loaded every German indirectly citizen with additional debt and Cyprus will again. Yet I see no burning Cyprus Flags in German streets.

Blame this disaster on the Banks, but not on the people that pay the bill.

I think you tend to forget the big sales your country had in Greece and Cyprus, loan based of course, but I guess that was ok, right? Let's see you go without them now!
You also tend to forget that the low price of your currency ie the euro is due to the piigs and cyprus. There is no other way to keep the euro low now the the US is printing dollars like crazy, since you northern countries want to claim that the euro is good wealth storage and hence can't print euros at will as well. Money will flee your banks if you do. Suppose piigs piigs hadn't gone bankrupt and germany had to sell products while 1 euro was 10 dollars or so!!! That would be an interesting picture!


Also, you are getting hefty interest for the loans you gave to those countries, aren't you?

Blame this disaster on the Banks, but not on the people that pay the bill.

Amen to that. But, can you tell who the people that are paying the bill are?

[Akka]

So you are saying German Taxpayers should bailout Cyprus. And the people there should pay nothing at all.

Why should I pay for bailing out banks on a Island I never was before?

Also Cypriots received crazy interest rates on their account for several years. It's time people learn that interest earning is not risk fee. You get money for lending out money in the moment you put your money in an account it's not yours anymore.

Greek has already loaded every German indirectly citizen with additional debt and Cyprus will again. Yet I see no burning Cyprus Flags in German streets.

Blame this disaster on the Banks, but not on the people that pay the bill.

I think you tend to forget the big sales your country had in Greece and Cyprus, loan based of course, but I guess that was ok, right? Let's see you go without them now!
You also tend to forget that the low price of your currency ie the euro is due to the piigs and cyprus. There is no other way to keep the euro low now the the US is printing dollars like crazy, since you northern countries want to claim that the euro is good wealth storage and hence can't print euros at will as well. Money will flee your banks if you do. Suppose piigs piigs hadn't gone bankrupt and germany had to sell products while 1 euro was 10 dollars or so!!! That would be an interesting picture!


Also, you are getting hefty interest for the loans you gave to those countries, aren't you?

Blame this disaster on the Banks, but not on the people that pay the bill.

Amen to that. But, can you tell who the people that are paying the bill are?

Tend to interpret what people tend to much?

So you are saying due to large sales German Companies supposly had in this countries German Taxpayers should just bail them out, no strings attached?

Well, that will solve the problem once and for all.

[Razick]

Banksters, like politicians go to great lengths to maintain a veneer of respectability and as a result the vast majority of people have no idea that they're handing money to crooks. When you tack the fraud of government depository insurance upon that, the vast majority mistakenly believe they can trust their local banksters.

In this case at least it's a government betrayal of trust. Brought on by poor banking? Perhaps, but the government is the one stealing money in this case, not the banks.

[creativex]

Banksters, like politicians go to great lengths to maintain a veneer of respectability and as a result the vast majority of people have no idea that they're handing money to crooks. When you tack the fraud of government depository insurance upon that, the vast majority mistakenly believe they can trust their local banksters.

In this case at least it's a government betrayal of trust. Brought on by poor banking? Perhaps, but the government is the one stealing money in this case, not the banks.

Don't care who's most guilty in this most recent bankster/ruling class dynamic duo heist. Just like the bailouts in the states those that work for a living will end up footing the bill.

[zeroday]

Also, I find you avatar greatly offensive.

I find merkel's proposal, to grab money from my current bank account and use it to pay country's debt, much more offensive.
I don't blame German people, but I'll always blame villainous politicians.

   

[BTC Books]

Banksters, like politicians go to great lengths to maintain a veneer of respectability and as a result the vast majority of people have no idea that they're handing money to crooks. When you tack the fraud of government depository insurance upon that, the vast majority mistakenly believe they can trust their local banksters.

In this case at least it's a government betrayal of trust. Brought on by poor banking? Perhaps, but the government is the one stealing money in this case, not the banks.

Sucker.

There's no difference.

I remember that during the US/Vietnam war, all of the US calculations were based on the idea that the Vietcong and the NVA were two separate entities - and could be played off against each other.  The US were suckers - the two were the same, and it cost more additional lives on both sides than one likes to think about.

You're falling into the same trap.  There is no difference between governments and banks.  They are the same people, with the same agenda.

[hanzac]

Now I do think that Europe is going backwards to form a centralized government so called EU.
People are seeking independence, while these politicians are trying to fool people that tight with each other is a good living way, so that they can raise high tax and also control people.

[Vladimir]

http://www.youtube.com/watch?v=Xbp6umQT58A

Sometimes farmers experiment. They chose a barn and change something there. For example, farmers introduce a new feeding system. Then they see whether it increases yield or not. This is exactly what is going on in Cyprus. If it works well this practice, it will be adopted in other farms/barns. If not, a more inventive system will be tested.

[hanzac]

Also, I find you avatar greatly offensive.

I find merkel's proposal, to grab money from my current bank account and use it to pay country's debt, much more offensive.
I don't blame German people, but I'll always blame villainous politicians.

Politicians are just stupid actors nowadays while they don't know they are out-fashioned. They still think they have the power and ability to influence and change the human beings' living while they are lag behind the current wave.

[Sage]

http://www.youtube.com/watch?v=Xbp6umQT58A

Sometimes farmers experiment. They chose a barn and change something there. For example, farmers introduce a new feeding system. Then they see whether it increases yield or not. This is exactly what is going on in Cyprus. If it works well this practice, it will be adopted in other farms/barns. If not, a more inventive system will be tested.

That strategy might have worked if they could have kept the whole world from knowing about it.  Now, the damage is done.  Anyone with a bank account is asking the same question, "could it happen here?".

They can't isolate this one to one barn.  The fuse is lit.  This one's gonna blow up in their face.

[hanzac]

Is this really a EU thing, and not a Cyprus thing?

Yes. The problem is that a lot of Russian money is parked in Cypriotic bank accounts, and the EU doesn't feel like spending a few billion Euro's to protect the savings of Russians. Hence this solution, in which the Russians are forced to help pay the debt as well.

Stealing money from actual hard-working Cypriots is considered collateral damage. Very sad indeed.
Good news for bitcoin, bad news for the poor Cypriots, for the EU and for the future of the Euro.

Remember if the business entity starts to judge the nationality, the races, etc. won't it start to judge the sexualities, the ages, the occupations ...?
If such things happen, people won't trust such entity. Please just shut down the door and go back to country village and back to raise animals and plants.

[bubblesort]

It looks like the Russians got their money out the back door while everybody was fighting.  The Cypriot banks with branches in London and Russia never closed or imposed withdrawal limits, so the Russian mob probably took it all out by now.  That's why Russia didn't bail out Cyprus.

http://www.zerohedge.com/news/2013-03-25/have-russians-already-quietly-withdrawn-all-their-cash-cyprus

[rpietila]

Meanwhile in Finland:

My local bank refuses to give out more than EUR 10,000 in cash to me. The stated reason is Easter. Then I ask, "okay, 10,000 more next week?". Answer: "Nope."

They advice me to go to other branches in the same city, so that I could take out the 20k I wanted. <- Note, it was not even big sum I was asking for.

I regularly visit them and take out several 100,000s a year in cash, so it is not that there is any "suspicious activity" rule that they are enforcing.

[Akka]

Also, I find you avatar greatly offensive.

I find merkel's proposal, to grab money from my current bank account and use it to pay country's debt, much more offensive.
I don't blame German people, but I'll always blame villainous politicians.

Still the point is that Cyprus bank accounts received up to 15% interest p.a..

On my Bank account I get 2% p.a. on the same currency.

It can't be that we know pay for this outrageous interest rates that obviously just where made up.

Such Interest rate are not risk free. Normally you only get them in High Yield Investment Scams and Ponzis. Oh wait, so that was what happened there.

I don't approve of taking money from bank deposits, but Merkel does right in not just bailing them out. I would be outraged I my Taxmoney would just be used to bail out this Scams without asking for anything in return.

Basically you where in a car accident where the driver of the other car fucked up and now you are blaming the Mechanic for charging you to fix your car.

[caveden]

Peter Schiff on Cyprus

And it's not as if depositors at Cypriot banks, many of whom are reported to be Russian citizens seeking tax havens, were not complicit in the risk taking. Bloomberg reports that over the past five years euro deposits at Cyprus banks returned more than 24 percent cumulatively, almost double the returns on comparable German accounts. The banks were able to offer such returns because they were exposed to riskier assets (i.e. Greek government bonds). What's so wrong with asking those who took greater risks to earn higher returns to give something back when their decisions go bad?

Cypriot citizens, as members of the EU, had the choice to put their deposits in any EU bank. Even after paying the taxes that had been proposed in the bailout, long-term depositors would have made more money by keeping their savings in the high yielding Cypriot banks than low yielding German banks. So what kind of sadistic Rubicon are we crossing?

[bubblesort]

You people think the depositors deserve it?  ROFLMAO, that's insane!

[rpietila]

Meanwhile in Finland:

My local bank refuses to give out more than EUR 10,000 in cash to me. The stated reason is Easter. Then I ask, "okay, 10,000 more next week?". Answer: "Nope."

They advice me to go to other branches in the same city, so that I could take out the 20k I wanted. <- Note, it was not even big sum I was asking for.

I regularly visit them and take out several 100,000s a year in cash, so it is not that there is any "suspicious activity" rule that they are enforcing.

I had a meeting and then walked to another bank. Because my risk assessment had changed because of the above incident, I wanted to have an additional EUR 20k. After about 15 minutes of paperwork, none of which was anything special or suspicious to me, I was given the cash I wanted.

Conclusion: What I did is just a precaution. The bank does not pay me anything for keeping my money. I lose nothing if I take it out. I will spend it in my business in approx. 3-4 weeks even if nothing happens. If everyone did the same, there would be same hell here as in Cyprus.

[malevolent]

Conclusion: What I did is just a precaution. The bank does not pay me anything for keeping my money. I lose nothing if I take it out. I will spend it in my business in approx. 3-4 weeks even if nothing happens. If everyone did the same, there would be same hell here as in Cyprus.

A lot less than everyone
In most countries the minimum reserve requirements are in the range of 1-10%, the rest the banks can lend more than they have (''create'' money).