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

[wrenchmonkey]

i have an account in india. it pays 9% on a 1 year deposit

Is the account only in INR or does it also pay 9% for other currencies? INR loses in value a lot (inflation rate is 6% (WPI) to 11% (CPI) and the EER is in the 80s.

The real inflation rate in the U.S. is claimed to be 8% (probably ACTUALLY closer to 17% though), and there's freaking NO interest here, so he's still better off investing in India, even if he's "earning" 9% interest and "losing" 11% to inflation/exchange rates. He'd be losing 8%, minimum, instead of the 2% he's theoretically losing in India.

Hoarding "money" is a losing situation no matter how you slice it. But if you're gonna hoard it, stemming the flow of loss is wise.

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[tidus_13]

Europe just sucks, governament dont let u be rich

[myrkul]

Europe just sucks, government dont let u be rich

Or moderately successful, even. Remember, this was his client payment/payroll account

[zeroday]

Lawsuits against bail-in begin at Supreme Court

THE SUPREME Court yesterday began hearing 53 applications filed against last month’s Eurogroup decision to resolve Laiki Bank and force losses on uninsured depositors at the Bank of Cyprus.
The applications were filed by depositors who can expect to lose the entirety of their deposits over €100,000 at Laiki and between 40 to 60 per cent (potentially higher) of uninsured deposits at the Bank of Cyprus (BOC).
The eurozone finance ministers’ decision on March 25 provides for the restructuring of Cyprus’ two main banks, through the resolution of Laiki Bank and the recapitalisation of the Bank of Cyprus, resulting in a massive write off (haircut) of Cypriot and foreign bank deposits.

Regarding a request by the plaintiffs’ lawyers to postpone the hearing so they could access information requested of the Legal Service, Attorney-general Petros Clerides - representing the state - argued against a postponement, saying the resolution and recapitalisation of the two banks was a precondition for Cyprus to receive as a loan €10 billion from the troika.

Meanwhile, the data requested by the lawyers could not be given to the plaintiffs’ since the Central Bank had classified it as confidential, preventing even the Legal Service from having access to it.

[cho]

Regarding a request by the plaintiffs’ lawyers to postpone the hearing so they could access information requested of the Legal Service, Attorney-general Petros Clerides - representing the state - argued against a postponement, saying the resolution and recapitalisation of the two banks was a precondition for Cyprus to receive as a loan €10 billion from the troika.

Meanwhile, the data requested by the lawyers could not be given to the plaintiffs’ since the Central Bank had classified it as confidential, preventing even the Legal Service from having access to it.

[/quote]

WTF???
Any idea of what this "classified" material is supposed to be ?

[myrkul]

WTF???
Any idea of what this "classified" material is supposed to be ?

Details of the politicians and mobsters getting their money out before robbing the rest of the country.

[flavius]

I find it funny how many "businesses' post on this forum acting like it's not a big deal to have 700k in their bank account. You should NEVER keep a large amount of money in a bank account mainly for tax purposes.

Could you enlighten us about this ? If you need to pay 1M in monthly wages, where do you move that money from ? What is the link with tax ?

Wages? What are you, running google or something? You people have such sketchy and obscure business models.

[caveden]

Flavius, for a business with 20 employees, keeping 700k€ in your bank account is not a big deal.

[cho]

I find it funny how many "businesses' post on this forum acting like it's not a big deal to have 700k in their bank account. You should NEVER keep a large amount of money in a bank account mainly for tax purposes.

Could you enlighten us about this ? If you need to pay 1M in monthly wages, where do you move that money from ? What is the link with tax ?

Wages? What are you, running google or something? You people have such sketchy and obscure business models.

Google is about 30k employees paid in average 100k$/year, which means their monthly wages in in the order of 100M$ To 1G$.
I was talking about small businesses (1M monthly)
And I still don't know what you're talking about.

[flavius]

I was under the assumption all bitcoin users were self employed and dabbled in technology, not running all out mainstream businesses with employees, taxes, etc.

[myrkul]

I was under the assumption all bitcoin users were self employed and dabbled in technology, not running all out mainstream businesses with employees, taxes, etc.

Well, you know what they say about assuming.

[organofcorti]

I was under the assumption all bitcoin users were self employed and dabbled in technology, not running all out mainstream businesses with employees, taxes, etc.

Well, you know what they say about assuming.

You make an ass out of u and .... er, ming?

[flavius]

Then you meet a black man.

[BitcoinFlush]

I am unfortunally a customer of the same bank with both a personal and a business account. Luckily i was only offshore there so it was easy to change it .
On the sunny side of all this: In Limassol you can now pay with bitcoins for your salads as the people are not accepting what is happening

[BlackPrapor]

I am unfortunally a customer of the same bank with both a personal and a business account. Luckily i was only offshore there so it was easy to change it .
On the sunny side of all this: In Limassol you can now pay with bitcoins for your salads as the people are not accepting what is happening

Are there many places accepting bitcoin in Limassol?

[BitcoinFlush]

I am unfortunally a customer of the same bank with both a personal and a business account. Luckily i was only offshore there so it was easy to change it .
On the sunny side of all this: In Limassol you can now pay with bitcoins for your salads as the people are not accepting what is happening

Are there many places accepting bitcoin in Limassol?

I don't know. I haven't been there since. My partner said he had paid for a salad with btc. I will be going there within the next 2 months so I will keep you updated on how many places accept it

[legendster]

So   Some rich guy's corporation got dunked by the country it was located in
Well a part of me feels VERY VERY VERY happy but another part of me feels very very scared & Saddened ....

WHY am I so happy you ask ?
Well the answer is simple, I am from India I earn around 10000 a month doing small freelance stuff online oh & that's 10k INR which is 140.4 EURO
Out of this every month I am supposed to pay around 5k - 7k (INR) a year as tax (water, electricity, income etc etc)

WHICH is a really tough strain on my economic conditions.

The place where I live - it takes around 30 minutes to reach the main railway station or the main road and this is by auto (a form of taxi) Every year they collect the taxes from us claiming to improve the roads here, they promise to build a new Metro Railway station near by and they promised to increase wages and decrease food expenses. I am sure this is done in almost every country & in almost every country's small poor guys (like me) suffer.. I m only 21 but I ve been hearing these promises for the last 15 years or so ..
Does this mean that the tax my dad & I have been paying so far has NOT been utilized by the government to improve the social infrastructure ?
The Answer to that is YES - THEY HAVE IMPROVED the infrastructures. But the infrastructures they improved are not meant for us or the small town I live in, The 'improved infrastructure' and roadways are meant for BIG and MEDIUM sized companies in the center of the city !
These companies have had modern roadways built around their offices, new railway stations built closeby to these multinationals so that their employees can commute in a better way .. hell they even decorated the river banks & created new parks to 'create a better scenery' but all these are in and around these multinational companies .. OUR governments took OUR money and made life easy for companies like these while we still suffer from 3 - 4 hours of load shedding(s) and power outages every day of the summer season, while the people who live in the center of the city (& close to these companies) only face 3 - 4 load shedding(s) and power outages hours every week.

So thats why every time a big company like the OP's gets looted by the hosting government I feel kinda pleased and it feeds my appetite for revenge in a certain way.


But this also scares me (& saddens me because of the obvious money/job loss) if such power houses can get looted by these governments, how easy would it be for these governments to fuck us - the little people - up.

[solex]

So   Some rich guy's corporation got dunked by the country it was located in
Well a part of me feels VERY VERY VERY happy but another part of me feels very very scared & Saddened ....
....
But this also scares me (& saddens me because of the obvious money/job loss) if such power houses can get looted by these governments, how easy would it be for these governments to fuck us - the little people - up.

Wow, what a thoughtless post.
The OP had a small business, and was ripped off by his government, the ECB and its bankster cronies. Whatever problems exist in India is completely and totally irrelevant.

[Zaih]

Well that's down right fucked.

[mmeijeri]

The OP had a small business, and was ripped off by his government, the ECB and its bankster cronies.

Not by the ECB, just by his government and its "bankster cronies". And even then his government is culpable only to the degree that it was negligent in the oversight duties that it took upon itself (wrongly in my opinion).