CYPRUS UPDATE!! March 26 2:17

http://www.prisonplanet.com/cyprus-bank-bailout-agreement-is-pure-theft-40-of-private-deposits-to-be-looted-from-selected-accounts.html

Cyprus bank bailout agreement is pure theft: 40% of private deposits to be looted from selected accounts

Mike Adams
Natural News
March 25, 2013

A brand new looting arrangement has been reached concerning Cypriot banks. It involves seizing the funds of all accounts over 100,000 euros, then stealing up to 40% of those funds sometime over the next few weeks, or whenever EU bureaucrats get around to deciding exactly how much to steal.

So instead of 10% being stolen from most accounts, as was originally proposed, the new deal is that 40% will be stolen from selected accounts, but not from accounts holding less than 100,000 euros. Why the 100,000 threshold for having your money stolen by the banking system? Because all EU bank accounts are insured up to 100,000 euros. So the banksters figured they could just steal anything over 100,000 and say, “Heh, it wasn’t insured, your loss!”

IMF chief Christine Lagarde characterized the theft as “a lasting, durable and fully financed solution.” And if that’s not enough of a solution, they can always loot more private accounts to reach a new solution!

Sure, it’s a great solution… if you’re the banksters stealing all the money from private account holders. But from the point of view of depositors, this “solution” looks a lot more like a mugging.

Entire accounts seized indefinitely

It’s actually worse than just the 40% being stolen from private accounts: all accounts over 100,000 euros are now indefinitely frozen (seized) until the banksters figure out exactly how much to steal. “Large deposits with Bank of Cyprus above the insured level will be frozen until it becomes clear whether or to what extent they will also be forced to take losses, the Eurogroup of finance ministers said in a statement.” (USA Today)

Not everybody is fooled by all the bankster happy talk, of course. As Colm McCarthy writes on the Independent.ie website:

* A d v e r t i s e m e n t
*

…the eurozone countries collectively do not have an actual deposit guarantee fund in place, and the volume of deposits in many eurozone countries, not just those already in financial distress, is large relative to the fiscal capacity of the state. Bank runs by retail depositors are a serious risk, particularly in those countries whose governments lack financial credibility.

And from Mats Persson of GulfNews.com:

The Eurozone set a risky precedent when it decided to go for depositors. Images of long queues outside ATMs will have registered in other parts of the Mediterranean. If Cypriot depositors are forced to pay today, why not Spaniards tomorrow? …Events in Cyprus have shown just what a high-risk gamble the euro was… If you could design a system whereby a splinter could take down an elephant, this would be it.

No deposits are ever safe while the central banks are running things

The bottom line truth in all this is that no deposits are ever safe in any bank run by a government. Governments are inherently liars, and when it comes down to a crisis, it’s always easier to just STEAL money from depositors and call it a “tax.”

The business of banking, it seems, has largely become a business of theft. No wonder everybody’s flocking to bitcoin, the decentralized crypto-currency that’s not controlled by any government anywhere: www.weusecoins.com

That’s also why the Natural News Store has just announced it is now accepting bitcoin currency as payment for orders. Anyone with bitcoins can now buy prepared foods, superfoods, organics, supplements and much more, directly from the Natural News Store.

This article was posted: Monday, March 25, 2013 at 5:28 am

Make no mistake peeps, it's coming here soon prepare if you have not.

http://www.prisonplanet.com/its-official-banks-in-europe-may-now-seize-deposits-to-cover-their-gambling-losses.html

IT’S OFFICIAL: Banks In Europe May Now Seize Deposits To Cover Their Gambling Losses

Henry Blodget
Business Insider
March 25, 2013

As expected, Cyprus and the EU reached a new late-night bailout deal last night that will reduce the chance that Cyprus’s financial system and economy will completely implode.

The new deal is better than the last deal in one key respect:

* Deposits under 100,000 euros will be protected

That’s very important. Those deposits were ostensibly “insured.” To seize them, the way the last bailout deal would have, would have been grossly unfair and would have set a truly alarming precedent.

Now, small depositors in European banks can breathe more easily. At least in this case of gross malpractice on the part of reckless bank managers, their life savings have been preserved.

Alas, the good news ends there.

Although deposits under 100,000 euros will be spared, deposits over 100,000 euros will be seized and subjected to an as-yet undetermined haircut–with the confiscated money going to bail out the gambling losses of the aforementioned reckless idiots who run some of Cyprus’s banks.

Russian Leader Warns, “Get All Money Out Of Western Banks Now!”
Cyprus told: take bank levy or leave euro

President, eurozone finance ministers and bailout troika hold emergency meeting as €100 limit imposed on ATM withdrawals

Wealthy Russians stand to lose billions of euros in Cypriot banks under draconian terms being hammered out on Sunday night in Brussels to prevent the Mediterranean tax haven becoming the first country forced out of the single currency.

Negotiations got underway amid a hardening of the stance held by the International Monetary Fund and Germany, who insisted that depositors must take the hit for bailing out the eurozone’s latest crisis economy.

http://www.guardian.co.uk/world/2013/mar/24/cyprus-bank-levy-leave-euro

Video: -- Angry Cypriots Blow Up Bank Of Cyprus ATM

http://www.rumormillnews.com/cgi-bin/forum.cgi?read=272565

Kremlin: EU and US are preparing for the largest theft of private wealth in modern history

Kimberly Paxton
www.TheDailySheeple.com
March 24th, 2013
Reader Views: 3,153
Comments (40)

dmitry

Embassies around the world received an “urgent bulletin” today from Russia’s Ministry of Foreign Affairs. The MFA is strongly urging Russian citizens and businesses to pull their money from Western financial institutions immediately, at the request of Russian Prime Minister Dmitry Medvedev.

Earlier today, the EU announced its intentions to destroy the banking system in Cyprus if the small country refuses to raid the savings accounts of its citizens. The EU Times reports “that if the Cypriot government did not allow the raiding of private bank accounts by Monday they [the EU] would be forced to destroy their banks, which remain closed for the seventh straight day and have no signs of opening soon.” Thus far, the Cypriot Parliament has stood strong against the EUs demands, apparently planning an outright default instead of pillaging the accounts of citizens.

The EU Times also reports that some recent suspicious actions by President Barack Obama could be indicative of plans falling into place.

According to Kremlin sources, though, President Obama’s sudden visit to Israel this week, the first he has made since being elected in 2008, was to personally warn top Israelis of his regimes “plan” to begin confiscating his citizen’s bank deposits too.

Interesting to note is that the Obama regimes “master plan” to steal their citizen’s wealth that is no longer protected was detailed by the global management consulting giant, and the world’s leading advisor on business strategy, The Boston Consulting Group (BCG) who in their 2011 September report titled Collateral Damage: Back to Mesopotamia? The Threat of Debt Restructuring warned of the US governments plan confiscate up to 30% of not just the Americans people bank accounts, but also of their other wealth.

If you’re wondering why the news in America doesn’t mention the possibility that 20-30% of your savings could be confiscated, keep in mind that the mainstream media will not be benefitted by providing this information. The MSM is a tool of the government, the wealthy, and the special interest groups – all of whom will be exempt from these outright thefts of funds.

If you don’t heed the signs, you may wake up one morning to discover that your access to your accounts is gone. You may be standing by helplessly, waiting while the US government appropriates a percentage of the money that you have worked to save.

Follow the advice given by the Russian government and get your money out. If you choose not to protect yourself, you can’t complain when your assets are stolen. You’ve been warned.

Delivered by The Daily Sheeple

Cyprus facing ruin regardless of deal, islanders warn
Cyprus may be on the verge of hammering out a deal to address its chronic debt crisis but many Cypriots fear that the island’s economy is destined for ruin regardless.
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TelegraphPlayer_9951018
Nick Squires

By Nick Squires, Nicosia

11:25AM GMT 24 Mar 2013

CommentsComments

Nicos Anastasiades, the Cypriot president, and Michalis Sarris, his finance minister, are on their way to Brussels for emergency talks over a deal under which deposits of more than 100,000 euros in the Bank of Cyprus will be hit by a 20 per cent levy.

Deposits of more than 100,000 euros in other banks will be targeted by a four per cent forced levy.

Cyprus’s leaders are expected to submit to the drastic plan - which critics call daylight robbery - in return for a 10 billion euro bail-out loan to save the country from bankruptcy.

While the deal may stave off immediate disaster, many Cypriots said the measures will shatter confidence in the island’s hugely profitable banking and financial services industry and lead to a massive exodus of investors, among them Russian tycoons and British retirees.

Demonstrator Gristakis Georgiou, an employee for Cyprus Popular Bank Pcl, center, reacts during a protest outside the parliament in Nicosia, Cyprus. (Bloomberg)
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Going to Cyprus? Take a pile of euros and watch out for thieves
22 Mar 2013

Islanders also fear that as the bank levies bite, businesses and big investors will have to start laying off staff, heralding high levels of unemployment.

Around 70 per cent of Cypriots are employed in the financial services and banking sector, a number that dwarfs the 20 per cent working in tourism.

“People are worried not just because they could lose their savings but because they could lose their jobs too,” said Ioanna Constantinou, 24, who works in the financial services industry in Nicosia, the Cypriot capital.

“I think a lot of people will be out of work soon and looking for jobs. The young people, especially, will go abroad because you can’t live with this level of uncertainty,” said Miss Constantinou, who like many Cypriots attended a British university. “The banking sector is finished, we have lost all credibility – who is going to want to bring their money to Cyprus now?”

As Cypriots anxiously wait to see exactly what the deal struck in Brussels will entail, shops in Nicosia were all but deserted, with many offering discounts of up to 50 per cent.

Restaurants in the city's picturesque old town are normally jammed at the weekend, but on Saturday night many were all but empty.

“This is the worst day we have had in the 12 years that I’ve been here,” said Pantelis Koutso, the owner of a popular taverna famous for its roasted meat and meze dishes.

Outside parliament, protesters had stuck placards to a fence. "Europe You Failed Me", said one, while another read: "Draghi is Dragging Us Down", a reference to Mario Draghi, the head of the European Central Bank.

“The lesson from what has happened is ‘get your money out of Cyprus’”, said Simos Angelides, a lawyer.

“We had the Turkish invasion in 1974. This now feels like the German invasion of 2013.

“This is going to be a second 1974. People will leave the country. There’s no future here.”

Anti-German sentiment is running at an all time high, with many Cypriots accusing Berlin of making an example of Cyprus as a warning to much larger debt-laden Mediterranean economies, including Italy and Spain, that the German taxpayer will no longer stomach bailing out ailing economies in southern Europe.

“We are the guinea pigs – they are testing the “bail-in” model here before applying it to other countries. They are punishing us and making sure the rest of Europe sees. It’s a public whipping. The only question is, who’s next?” said Mr Angelides.

As Cypriots headed to church on Sunday morning, dark conspiracy theories were swirling around the former British colony.

Many people accused Germany of deliberately trying to bring the country to its knees in order to win a stake in the billions of dollars of natural gas believed to be offshore.

“The talk among a lot of locals is that Germany has engineered this deliberately to scare off the Russians and so that they can get their hands on the LNG deposits. That way we will be forced to turn to Germany as our next sugar daddy. We have been forced to slap the Russians in the face, even though we didn’t want to,” said John Leonidou, a reporter with the Cyprus Weekly, who was brought up in the UK.

http://www.prisonplanet.com/cyprus-deal-turns-bank-depositors-into-lenders-abolishes-national-sovereignty.html

Cyprus Deal Turns Bank Depositors into Lenders, Abolishes National Sovereignty

Bob Adelmann
New American
March 26, 2013

Late Sunday night the president of Cyprus, Nicos Anastasiades, was officially informed of the deal the unelected Eurogroup had come up with in order for Cyprus to receive its bailout from the European Central Bank. Anastasiades flew to Brussels on Sunday to meet with Mario Draghi, the president of the European Central Bank (ECB), Christine Lagarde, the managing director of the International Monetary Fund (IMF), and Jose Barroso, the president of the European Commission (EC). The meeting was run by Herman Van Rompuy, the president of the European Council. On his way to the meeting, Anastasiades admitted that “the situation is very difficult.”

That was an understatement. Once the details were explained to Anastasiades, the Eurogroup — consisting of unelected finance ministers from each country that uses the euro, and headed by another unelected bureaucrat, Jeroen Dijsselbloem — issued a statement of unanimity:

The Eurogroup has reached an agreement with the Cypriot authorities on the key elements necessary for a future macroeconomic adjustment program. This agreement is supported by all euro area Member States as well as the three institutions.

The details were ugly. There will first of all be a “downsizing of the [country’s] financial sector” by theft of part of every account over roughly $130,000 (€100,000) in Cyprus’ two largest banks, the Bank of Cyprus and the Cyprus Popular Bank (the Laiki Bank), which hold half of all bank deposits in the country. Any amount above $130,000 will make a “contribution” to the deal amounting to an estimated 20 percent while those accounts held in Cyprus’ other 26 banks will be nicked four percent. The Cyprus Popular Bank will be liquidated and accounts $130,000 or smaller will be transferred to the Bank of Cyprus. Accounts over $130,000 will disappear along with any investors’ bonds in that bank. The country’s capital gains tax rate will be increased along with corporate income tax rates.

Said “downsizing” was exacerbated by Anastasiades telling his friends what was coming on Thursday and to get their money out before the deal was announced. According to the Daily Mail, within the next 48 hours some $6 billion of foreign deposits (estimated to be between $20 and $40 billion) was transferred out of the country, leaving a banking system weakened by haircuts already suffered due to the Greek financial crisis teetering on the edge.

Anticipating that once the banks were opened small depositors would be taking their money out as well, the deal kept the remaining banks closed indefinitely, limiting depositors just $130 maximum daily withdrawals from their accounts through ATM machines.

And a new term was introduced into the lexicon of the day: “bail-in.” A bail-in occurs when the contract terms of a bond are unilaterally and illegally changed by an outside illegal and unelected body so that the bond holder who normally would stand at the head of the line in a bankruptcy gets to “contribute” part of his investment to save the bank in which he invested. In essence it’s a forced haircut.

A d v e r t i s e m e n t

The statement was full of praise for the willingness of the Cyprus government and its president to go along with the ultimatum: “Together with the decisions taken by Cyprus, this results in a fully financed program which will allow Cyprus’ public debt to remain on a sustainable path.”

Lipstick in generous quantities was applied to the robbery. First, Dijsselbloem said, “We’ve put an end to the uncertainty that affected Cyprus and the euro area over the last few days. The Laiki bank will have to be dissolved so yes, senior bond holders, along with the others, will basically be wiped out there.” But they aren’t the only ones “contributing” to the rescue. Added Dijsselbloem, “The contribution to this recapitalization must come, inevitably, from senior bondholders, junior bondholders, shareholders and … uninsured depositors.”

Said Lagarde, the deal is “a comprehensive and credible plan to deal with the current economic challenges in the country … this will form a lasting, durable and fully financed solution.”
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