My bank account's got robbed by European Commission. Over 700k is lost.

[BluesBrother]

Obviously you had a reason for storing cash in a country like Cyprus instead of the country you do business in.
But let me ask you this. Is the bank insolvent or is this just part of the government taxation scheme?

If it's the later you shouldn't worry to much. You'll pay 5% on that deposit and get most of it back.

[myrkul]

Obviously you had a reason for storing cash in a country like Cyprus instead of the country you do business in.

He did do business in Cyprus. In fact, he had to fire all of his Cypriot employees.

He wasn't storing cash. This was the account which he received payments to from his clients, and paid his employees with.

The bank is insolvent, because the government is insolvent, because they gave it all to the Greeks.

[BluesBrother]

Yeah that's pretty bad but then it's not really the EUs fault but the banks fault and them buying junkbonds/shit investments.
Aim the blame in the right direction. Hadn't the EU regulated this you might have goten your money out and someone might have been left with nothing.
It should be illegal to do so with his money though since it is not an investment account.


He should check into the legal aspects of this. But who reads all those papers when they make a simple account, right? I don't...I better start.
Basically if what he says is true and he was paying to have a checking account with no interest on it then he should at least have some priority of getting the money back when shit hits the fan.

[myrkul]

Basically if what he says is true and he was paying to have a checking account with no interest on it then he should at least have some priority of getting the money back when shit hits the fan.

Yup, he should. But he doesn't, because he's just a peon. No connections to TPTB.

[rebroad]

IMHO the 700k is blocked as the 128k plus-some are the part that won't be touched.
you will not lose all the 700k, "only" couple of percent.

stop cryin, that's just TAX EVASION catching up to you.

Evasion is illegal, avoidance is just (arguably) unethical.

Are you fucking serious? Unethical? Taxation is unethical. Steeling peoples  money with threat of force is  unethical.

Comments like yours make me sick. You take a moral corrupt principal, hold it up as ethical and legitimate and call those who avoid participating unethical.

Something is definitely wrong with the thought pattern in the world... sick. Just sick.

ownership is arguably unethical...

[myrkul]

ownership is arguably unethical...

Oh goody! Proudhon? Or Marx?
Come and play!
https://bitcointalk.org/index.php?board=34.0

[Mike Christ]

ownership is arguably unethical...

Oh goody! Proudhon? Or Marx?
Come and play!
https://bitcointalk.org/index.php?board=34.0

[zeroday]

Yet another sad story told by EU bailout victim

British widow stands to lose upwards of €50,000 after her profits from a house sale remain frozen in a bank on the island

"It was money from a real estate sale that was supposed to be in the bank for a single day. The same day it went in, I sent an email instructing the bank to transfer the funds – some of which were in euros and some in sterling – to the UK, but on Saturday morning the news broke that Cypriot banks were in major financial difficulty."

[marcus_of_augustus]

Sounds like Cyprus is going hot again ... parliament refusing to back the Troika's demands (?) again. They might be leaving the Euro if this happens.

[nobbynobbynoob]

Sounds like Cyprus is going hot again ... parliament refusing to back the Troika's demands (?) again. They might be leaving the Euro if this happens.

I just wonder if (and hope that) such a move could cause the entire EU house of cards to fail and collapse. The people of Europe will ultimately, probably after some pain, be much better off once the EU is consigned to the history books the same way the old Soviet Union, Yugoslavia and Warsaw Pact were.

[solex]

Sounds like Cyprus is going hot again ... parliament refusing to back the Troika's demands (?) again. They might be leaving the Euro if this happens.

The decision about Cyprus' gold is the fork in the road.

They either roll over, sell their gold, take 2 decades of austerity and Greek-like pain, and remain an ECB-puppet. Or, they can exit the euro, re-issue their pound using gold to give it some semblance of backing, so that it doesn't immediately hyper-inflate, and tell all the foreign bondholders to take a 100% haircut. Lots of economic and social pain either way. The 2nd route might have the economy in reasonable shape after 2 or 3 years. The Cyprus pound used to be worth nearly 2 euros, at parity they would have lots more tourism and export advantages.

[marcus_of_augustus]

Sounds like Cyprus is going hot again ... parliament refusing to back the Troika's demands (?) again. They might be leaving the Euro if this happens.

Or, they can exit the euro, re-issue their pound using gold to give it some semblance of backing, so that it doesn't immediately hyper-inflate, and tell all the foreign bondholders to take a 100% haircut.

if they went out on their own they could implement their own even better low tax, privacy policies and retain a lot of the offshore banking business ... particularly sticking a big fat finger up to the Statists who are trying to strangle them for wanting to be free from the banking oligarchies.

[cho]

Sounds like Cyprus is going hot again ... parliament refusing to back the Troika's demands (?) again. They might be leaving the Euro if this happens.

I just wonder if (and hope that) such a move could cause the entire EU house of cards to fail and collapse. The people of Europe will ultimately, probably after some pain, be much better off once the EU is consigned to the history books the same way the old Soviet Union, Yugoslavia and Warsaw Pact were.

The opposition between the Troika's demands and the parliament's votes are a symbol of how anti-democratic the whole european union is. That is why a refusal by the cyprus parliament might lead to a crumble of EU, IMHO.

[TheButterZone]

Bloody optimists. 

[myrkul]

Bloody optimists. 

lol.. It would be excellent if Cyprus told the rest of the EU to pound sand, re-issued their currency with a gold backing, and turned itself into a data- and tax-haven.

I'm not holding my breath, though.

[solex]

Bloody optimists. 

lol.. It would be excellent if Cyprus told the rest of the EU to pound sand, re-issued their currency with a gold backing, and turned itself into a data- and tax-haven.

I'm not holding my breath, though.

..and made Bitcoin legal tender and encouraged exchanges!

[myrkul]

Bloody optimists. 

lol.. It would be excellent if Cyprus told the rest of the EU to pound sand, re-issued their currency with a gold backing, and turned itself into a data- and tax-haven.

I'm not holding my breath, though.

..and made Bitcoin legal tender and encouraged exchanges!

Ew, no.

[cho]

Bloody optimists. 

lol.. It would be excellent if Cyprus told the rest of the EU to pound sand, re-issued their currency with a gold backing, and turned itself into a data- and tax-haven.

I'm not holding my breath, though.

...and labeled a rogue state and invaded within one year !

[cho]

Bloody optimists. 

lol.. It would be excellent if Cyprus told the rest of the EU to pound sand, re-issued their currency with a gold backing, and turned itself into a data- and tax-haven.

I'm not holding my breath, though.

...and labeled a rogue state and invaded within one year !

Yes, they need good reliable banks with lots of deposits from people in power if they want to avoid that fate. Like Switzerland.

Mountains and guns help, too

[myrkul]

Bloody optimists. 

lol.. It would be excellent if Cyprus told the rest of the EU to pound sand, re-issued their currency with a gold backing, and turned itself into a data- and tax-haven.

I'm not holding my breath, though.

...and labeled a rogue state and invaded within one year !

Yes, they need good reliable banks with lots of deposits from people in power if they want to avoid that fate. Like Switzerland.

Mountains and guns help, too

Water works, too. Maybe not as well as mountains, but it's better than nothing.