Cyprus is to receive a €10 billion (£8.7 billion) bail-out from the eurozone to recapitalise its ailing banking system in return for a series of drastic measures which will hit the country’s savers.
from Hang the Bankers:
The Mediterranean island nation becomes the fifth country to turn to the eurozone, following in the footsteps of Ireland, Greece, Portugal and Spain. The emergency funding will be used to prop up the country’s banks which were hit by the financial restructuring of nearby Greece.
The Cypriot banking system had grown to be eight times the size of the country’s fledgling economy – which accounts for just 0.2pc of the eurozone’s gross domestic product.
But in a departure from previous bail-outs, the country’s savers are being asked to make sacrifices.
The terms of the deal mean that Cyprus’s savers will sacrifice up to 10pc of their deposits in a move which will raise as much as €6 billion.
The silver coin in my pocket looks extremely shiny right now.
Indeed they do, PB. Not only that but they are exactly the same ounces that they were before this or any other bankster-induced “crisis” hits. We don’t wake up one morning to discover that the Gov has decided that our gold and silver money is now worth less than it was yesterday. Not only do TPTB tell us that our currency is worth something, when it really isn’t, they also tell us how much it is worth. Seems like WAY too much power for anyone to have over the fruits of our labors to me. This is why gold and silver represent the power of the citizens and fiat currency represents the power of the Gov, the Central Banks, and other ne’er do wells.
This ‘experiment’ is a like a pyromaniac experimenting with a lit match throwm into a dry tinder box underneath a powder keg. Will it or wont it ignite the tinder? If it does ignite the tinder will the fire burn hot enough to touch off the powder keg? What sort of firestorm would ensue if the powder keg explodes?
Crazy.
If the Cypriots roll over and take it – ie they dont pour out onto the streets and riot, or at least trash a few banks, then you can expect to see this ‘experiment’ take place elsewhere.
It is not enough that the ordinary joe is not being fleeced through direct taxation, and indirect taxation (such as inflation and currency debasement), they now have thier pockets picked whilst being bent over and made to say thankyou (for helping to ‘save the system’.
Anyone who pays even scant attention to the news in Euroland (and maybe even in the US and UK too) will now pull any savings from thier accounts ASAP.
If the sheep get spooked by this (ie the powder keg explodes and causes a fire storm), we could see a global bank run as early as next week.
The PTB seem to have taken a gamble that the general populations will be either too distracted/dumb/disinterested to notice what has just happened in Greece (and related actions already taking place in Argentina).
We will see next week if people really are as distracted/dumb/disinterested the PTB think they are. International bank run or no international bank run? Place your bets……….
Whoops, I really must read my text before posting:
meant to say,
‘The PTB seem to have taken a gamble that the general populations will be either too distracted/dumb/disinterested to notice what has just happened in CYPRUS(and related actions already taking place in Argentina)’.
“If the Cypriots roll over and take it – ie they dont pour out onto the streets and riot, or at least trash a few banks, then you can expect to see this ‘experiment’ take place elsewhere.”
Absolutely! This is nothing more than a trial balloon being run in an out of the way place to see if it is ready for prime time in one of the bigger economies of the EU. Hopefully, it will not come to it but… hanging a few banksters and the politicians who support their agenda would likely get some attention as well. This financial rape MUST end, by peaceful means, if at all possible, but by any means, if necessary.
“As it is a contribution to the financial stability of Cyprus, it seems just to ask for a contribution of all deposit holders,” said Jeroen Dijsselbloem, the Dutch finance minister who chaired the meeting at which the bail-out was agreed in Brussels.
I love that Orwellian terminology: “ask” while they TAKE without asking or allowing people to opt out in any way!! We are all in trouble and we need to take steps before they “ask” for our savings as well.
Yep, this is right up there with our “voluntary” tax laws… as if we can actually choose whether or not to pay. Yeah, right! Just try not paying and see what happens to you.
Using Federal Reserve or other Bank credit is voluntary. Try using money made directly by the Government.
The message today is loud and clear to all depositors if you want to protect your savings from zion banker confiscation and still have liquidity then buy Gold and Silver.
Expect Gold and Silver to now go parabolic, there is no other solution for all with savings to protect.
It is a time to be very afraid and see the real agenda unfolding before your eyes: http://blogdogcicle.blogspot.fr/2013/03/the-new-pope-francis-i-is-high-level.html
“zion banker” ?
I didn’t know that all bankers are zionists …
It’s the crossadors who were the first worldwide corporation and the first bankers .
Karma ? tell me about it momo .
THIS IS A TEST CASE. SO ANYWAY THIS MIGHT BE COMMING TO A BANK NEAR YOU. JUST KEEP IN THE BANK WHAT YOU NEED ON A MONTHLY DEPOSIT FOR CASH THE REST KEEP ON YOUR PERSON. I WOULD IF YOU CAN AFFORD IT BUY SOME SILVER COINS PER MONTH OR IF YOU HAVE THE FUNDS PURCHASE GOLD. WHEN THIS SYSTEM COMES DOWN HAVE THREE MONTHS OF EXSPENSES IN CASH ON YOU OR IF YOU HAVE A BUSINEES KEEP SIX MONTHS OF CASH. THIS WILL AT LEAST COVER YOU TILL THE CURRANCY IS ADJUSTED.{HOPEFULLY}IF NOT THIS IS WHERE PRECIOUS METALS WILL COME INTO PLAY.
Wow!! Imagine waking up and coming to grips that you’ve been robbed of your wealth.. What a friggen scam.. I hope they keep silver down until the 25th, dumping a good chunk of fiat for some precious metals..
This was recorded a little while back, Larken Rose, good stuff..
http://www.youtube.com/watch?v=cvo-yEymNuQ
Get out of direct deposit if you can. Go old school and get a paper check. When you deposit or cash it below your signature write “redeem for US current coin and deposit in account ##” Stop feeding the system. Depositing it with just your signature generates BANK CREDIT….not money..but debt
Good luck with getting a bank not to deposit such a check. ALL US currency is debt. This is why it is marked with “Federal Reserve Note”. A note is a debt instrument, not money. A Federal Reserve Note is no more money than is a mortgage or a promissory note. Likewise, credit is not money either, although the Keynesians will tell us otherwise. One look at the mess of our economy due to their influence on it, however, will put the lie to their entire economic philosophy.
If you want to stop feeding the system, you MUST separate your wealth from the corrupt banking system entirely. Yes, keep just enough there to fund your monthly expenses but no more. Do not keep anything in a bank that you want. Given any chance at all, it WILL be stolen.
Been depositing those types of check for awhile now (Keep a copy of it). A check/bill of credit/debt instrument has no effect until endorsed and deposited. The clearing of the check is where the taxable activity is created when Bank/Fed credit is generated on the check as an asset. Do I expect them to actually get coin and deposit it in my account? I don’t care. I’ve made my demand and that’s all that matters.
I do agree that one should limit how much they leave in a bank account. Idle credits leads to sticky fingers.
This is NOT s sure thing as yet….
The Cyprus Parliament still must vote the measure into effect, and was planning to meet in an emergency session on Monday, a nationwide holiday.
http://www.nytimes.com/2013/03/17/business/global/facing-bailout-tax-cypriots-try-to-get-cash-out-of-banks.html?_r=0
Grab your hot dogs and marshmallows….there will be some govt buildings burnt
to the ground…
Welcome to the club Cyprus. You are now on the official “screw you” list.
The question is: Will they fight back and say no?
Love your website and just found it here from a YOU TUBE link. I’m beginning to look into silver and gold for my family should the American government decide to destroy our banking accounts. Do you have any recommendations for where to purchase good products?
Hey man…thank you for the kind comments. Glad you found your way here!
Good for you getting started in Precious Metals. I don’t want to put words in SGT’s mouth, but let me give you a quick response on behalf of the SGT Team. We all have made purchases from the usual names, APMEX, Provident Metals, and Gainsville Coins. For a more personal touch and someone to walk you through your questions, give Andy Hoffman at Miles Franklin a call. If you’d like to get a number of specialty coins, check out the Silver Bullet Silver Shield series.
Personally, I stay AWAY from any name I hear of on TV or the radio, ESPECIALLY GoldLine. They have to pay for all that airtime somehow, and especially in the case of GoldLine, it has been with some crazy-high premiums on precious metals.
So I hope that is a helpful brief introduction…we look forward to your visits and comments on SGTReport!
+1 sir. Well said P!
Just makes you wonder when will these idiotic leaders learn. They keep the people in bondage living a lifestyle they can’t afford. What a shame and for all those that wanted to have a peaceful and happy life. Now they just sit there and ponder. The rich get richer and everyone else gets poorer. This is what will happen if you do not have a plan of action. Stack the smack jack.. Gold & Silver etc..
Remember the Trader who, c.18 months ago, shocked the BBC with his ‘Governments dont rule the World, Goldman Sachs does’ comment?
The people of the Eurozone should have paid attention:
http://youtu.be/aC19fEqR5bA
I am waithing to see what chaos will ensue when Sir Mervyn King hands the controls of the British printing presses over to the ‘American’ Carney in just a matter of weeks. The City of London ‘boys’ will then have unfettered access to the (currently) strongest fiat currency, in addition to the Dollar and Euro. That will then be game, set, match, and ‘lights out’ in short order.
All fiat currencies trashed just in time for the Russian hosted G20 currency talks in September – what a coincidence:
http://blog.russkie-prostori.com/russia/russia-will-host-g20-summit-in-2013/
There is so much going on here at home with preparations for a economic collapse, Max Keiser stating the bond bubble to burst in April, not too far off.. Could this be the trigger that sets things off? I just hope they keep Gold and Silver down until the end of March… Let the Dollar rally, as everyone bails from the Euro.. It’s been a long and arduous road for us, the silver stacker, but it looks like our time is on the horizon…
Having an awesome homemade Green Juice, with apples and carrots…
The real test cases were on Wall Street… the investment banks PFG Best and MF Global that were taken over by Goldman Sachs insiders and plundered from within, including segregated customer accounts.
They’ve been seeing runs on banks in Europe for a while now. Most countries have already enacted controls on how much a depositor can take out on a given day.
I hope the people rise up and start arresting/lynching bankers.
ok–
-Some people says to take OUT their savings…well. that is all fine, but the NEXT time your account has any monies they WILL take this “One Time Tax”.
-In The x-Nation State i currently am forced to live in, I MUST have an account for ANY payment i recieve, either by Check or in their electronic-to-fiat-fraud-scheme.
Just sayin…
R_J