Monday, March 18, 2013

Highway Robbery - Cyprus Style

The banksters strike with lethal precision -

Cyprus will put forward a new proposal on Monday under which a tax-free threshold or a lower tax rate for smaller depositors could be introduced, media reports said on Monday, in a move aimed at easing the pain of a bailout agreement which will impose an unprecedented tax on savers.

Banks in the country were shut on Monday for a public holiday, and would remain shut on Tuesday and Wednesday, the agencies said. The news comes amid fears that the decision to force uninsured depositors to fund part of the country's bailout could many prompt savers to withdraw their holdings.

Got that? No? Let me spell it out:
  • "tax rate for smaller depositors" Theft of individual private property entrusted to a private institution (bank) for safe keeping.
  • "unprecedented" The overt nature of the confiscation is the only unprecedented bit about this.
  • "Banks in the country were shut on Monday" This was timed to give them the longest window possible to get this done
  • "...and would remain shut on Tuesday and Wednesday..." And the government is forcing the people to keep their money with the banks. (After all, a "bank run" is nothing more than private consumers voting 'no confidence' with their money.)
  •  "...a bailout agreement" The primary beneficiaries are the very institutions which are keeping this money in the first place. They screwed up and they want the government to provide cover while they raid other accounts!
 Let's continue...
Reuters cited a government source in Cyprus as saying that the country is mulling a tax-free threshold on the bank deposit levy for smaller deposits. It cited a parliamentary official as suggesting that deposits up to 20,000 euros could be exempt. Remaining deposits up to 100,000 euros would be taxed at 6.7 percent and those exceeding that amount at 9.9 percent, the official told the news agency on condition of anonymity.

Earlier Dow Jones cited two unnamed European officials as saying savers with 100,000 to 500,000 euros would face a 10 percent tax, while those with savings over 500,000 euros would be taxed at 15 percent. Those with savings up to 100,000 euros would be taxed at 3 percent, according the report.

Under the original plan, every depositor under 100,000 euros would be taxed at 6.75 percent and those over that amount would face a 9.9 percent tax. The Cypriot Parliament has delayed a vote on the plan to Tuesday, an EU official told Reuters, "to allow time for more negotiations".

Ooops...we risked upsetting too many at the same time, so let's just 'target the rich...'
European Central Bank board member Joerg Asmussen told reporters on the sidelines of a conference on Monday that it was for the Cypriot government to decide the structure of a levy on depositors, Reuters reported, but the overall volume of its contribution to the bailout had to amount to 5.8 billion euros.

The German and French governments were also open to changing the bailout deal for Cyprus, Reuters said.

A EU bank head told Cyprus that they had to fork over 5.8 billion euros at the behest of the Germans and French, how they choose to screw their populace is up to them.
In order to achieve debt sustainability, a contribution from Cyprus is necessary, a contribution from the banking sector, from depositors and owners," Steffen Seibert, a spokesman for Chancellor Angela Merkels told the agency.

"How the country arrives at this contribution, how it divides it up, was and is up to the Cypriot government," he added. "As I believe the finance minister said last night on television, Germany could have imagined a different solution, a different staggering. But it was not our decision."
'We didn't tell them to do it exactly that way, so it wasn't us..."

Whether or not this passes is to an extent irrelevant. What is far more important is that this indicates a shift in bankster thinking away from subversive confiscation via inflation/gimmicking present over the last 30 years towards outright confiscation. Naturally, they are still trying to be coy about the whole thing by labeling it a tax on depositors, hoping they can get the cash on the helicopter before the populace realizes they've been had.

Here's the  Real Effect review. Note that all of these statements generally took place before the problems were reported in the first place, much less publicly recognized.

Oct 4, 2005 - Start of the US housing downturn phase
I believe that this will spread in this country gradually at first, but as the pinch of natural gas prices (40% higher in Wisconsin) combined with still increasing gasoline prices begin to strip Americans free cash, we will begin to see many people selling off properties in an attempt to capitalize on unrealistically high housing prices. After all, if you can't afford to heat one house, can you afford to heat two?

I strongly believe this will lead to a panicked sell-a-thon which will flood the market with overpriced housing, driving the prices down to at least pre-bubble levels. This will leave many holding large outstanding debts as much of their investment's value plummets.
Sept 17, 2008 - Start of the global correction
The long and short is they are bleeding the real assets out of the United States and passing them into foreign control. Make no mistake, they will bleed this country dry. Savings, checking, 401K, gold, assets, they want it all and will not stop until they get it. The only companies that survive will be those that primarily serve the industrial military complex. Overnight this country will be transformed into the new prison state for the Global Order. Get food, get water, get a gun and get ready to defend yourself.
 Jun 15, 2009 - Start of "Green Shoots"
This is not a recession, it is a depression. And a massive one at that. We are not at the bottom, we are on gaining momentum for the next plunge down. If you thought the last drop was bad, this one is going to strike fear into the hearts of men everywhere. The Dow will push through the last market low of 7,392.27, then 6000 and after that 3000. As capitol assets are ravished, what you will be seeing is the consumption of the golden goose in a proverbial feasting on the rotting carcass of the American consumer. 
  May 20, 2010 -
Here is the crux of the problem though. The globalists understood that the sheep would wake up, in fact they anticipated and planned for it by naming it the IMF riot. The relevant question is, who can outflank who here? Will the people get to the globalists before they are able to pull the trigger on the full police state?

Look for capital to fly from asset to asset, looking for a safe harbor, yet there is very few left to be found.
Jan 28, 2011 - Start of the "Arab Spring"
Look for continued unrest with some governments getting overthrown. But as I indicated earlier, the globalists are literally banking on this to occur. We are still not there yet though. More riots need to take place, some shots, some new faces and then, we go to war.

Oct 15, 2012 - Start of the "Civil War phase"
Got that? He's admitting Ordo Ab Chao (Look it up) in the US in order to merge us into an international system. This is the destabilization phase of the longer reaching Religious War (Series) that is being used to demonize religion. Look for a continuing resurgence in class warfare which first seeks to commit countries to civil war before turning their sights across the world to 'the other nations who did this to us!'

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