Sunday, March 17, 2013

Cyprus Stealing Citizen's Money in Bank Accounts

Added 3/18/13 - I realized this morning that in my haste I forgot to mention that the Cypriot lawmakers and their families would have, beyond a shadow of a doubt, withdrawn their money from their bank accounts before this savings-ravaging law was passed.
We have heard for decades that the banks control nations. The quote attributed to Amschel Rothschild,
"Give me control of a nation's money and I care not who makes its laws.", makes a lot of sense even if he did not utter those words himself.
Western governments have been borrowing insane amounts of money. They borrow to pay for what was already borrowed as well as for new spending that they also cannot afford.

Cyprus' answer to this predicament?

Penalize the people who save money.

"The world learned Saturday that the small Mediterranean country of Cyprus had agreed to a deal with European Union creditors that would impose a financial transaction tax as high as 9.9 percent on all depositors.

Depending on whether the Cypriot government finalizes the deal, which is still pending, this means that every depositor will have a portion of his money confiscated by the government when the banks reopen Tuesday morning.

“Accounts under 100,000 euros will have 6.75% of the funds seized. Accounts over 100,000 euros will have 9.9% seized,” Business Insider’s Henry Blodget explains.

After these funds are seized, the EU’s emergency lending facility and the International Monetary Fund, headed by Christine LaGarde, will drop €10 billion on keeping the banks in Cyprus running.

Unsurprisingly, after Cypriots learned of the surprise deal, many rushed to empty their bank accounts. However, according to various reports, ATMs have not been functioning properly and the government has made it impossible to transfer money outside of the country’s borders......"

Citizens of Western nations rightly fear their own leaders. It is they who are enslaving their own people. 

When people try their best to stash away some money, particularly in places in which allow the earning of some interest, and these funds are dipped into by the people who are supposed to protect their property, we can no longer deny that totalitarianism is the way of the future if nothing is done to put a stop to it.

Putting money in bank accounts is supposed to be a win-win deal. People earn interest, which should at least counter or offset any losses due to inflation, and the economy as a whole benefits as more money is available to lend out for business loans, mortgages, etc.

With all of the EU bailouts- Ireland, Italy, Greece, Portugal, etc., no one has had their own money stolen from their bank accounts.

The consequence of such criminal behavior is that people will hide their money is mattresses or jars in the backyard. Another option is that they will convert their money to holdings of (land) property, metals, or other speculative property that will be more difficult for their leaders to seize. Either way, they will find ways to ensure that their hard-earned money will no longer be stolen to appease the banks and their leaders who, no doubt by kickbacks and other means, pocket as much of the borrowed cash as possible.

If the people of Cyprus do not strike back, other EU nations will follow this path.

If that goes well enough for the banks and governments, the US will no doubt consider doing the same thing. Leftist economists have already called for the Obama administration to seize retirement accounts:

This is how the Left works - enslave the workers by debt and seizures of their property. The EU, far from being a true market-helping entity, is a powerful Socialist organization. The only difference is that the Western variant of Socialism utilizes and oligarchic element of private bankers, industrialists, and other plutocrats.

When the average Joe that is frugal, saves his money, pays taxes, and generally acts responsibly is robbed in no less a manner than if he was mugged on a dark street, it is time for the people to rise up in defiance.

I hope that the Cypriots fight back hard in this case. Put no money in the banks, grind the economy to halt, occupy government offices, close down the banks, or even consider the fact that the government must be fully changed by the people now without waiting for, elections - anything but accept this without resisting.

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