An 80% Wealth Confiscation Scheme?
The news coming out of Cyprus only gets worse.
It was bad enough that the political class even promoted the idea of STEALING depositors’ savings. But now we’re finding out that they lied time and again about how much they’d take.
Initially the plan in Cyprus was the following:
- Simply TAKING 6.75% of ALL savings accounts up to the official insurance limit of €100,000
- A 9.9% levy (THEFT) on all deposits above the official insurance limit of €100,000.
The idea was put to a vote by the Cyprus Government, which rejected it. However, the facts remain that this idea WAS suggested. In fact, the original proposal from Germany and IMF was even more dramatic:
Cyprus state broadcaster CyBC reported on Saturday that German Finance Minister actually entered the Eurogroup meeting on Friday proposing a 40 percent haircut on Cypriot bank accounts. Sarris stated on Saturday that this had also been the proposal of the International Monetary Fund.
Sarris stated in Brussels that in view of the threat from the European Central Bank for banks in Cyprus to shut down and chaos to ensue, the increase in interest taxation and the haircut to bank accounts became necessary. “A disorderly default, that was a genuine possibility, has been averted,” he said.
http://ekathimerini.com/4dcgi/_w_articles_wsite2_1_16/03/2013_488169
Please reread that first paragraph: Germany and the IMF wanted to take 40% of all depositors’ accounts. Imagine nearly half of your savings being simply TAKEN one day to bail out a bank. That’s what Germany and the IMF proposed.
And we now find out that it could be far worse than even that:
Cyprus’s finance minister said Tuesday that large deposit holders at Cyprus Popular Bank PCL (CPB.CP), the island’s second biggest lender, could face losses of as much as 80% on their deposits as the government moves to wind down its operations.
Speaking in a television interview with state broadcaster RIC, Michalis Sarris indicated that it could also take years before those depositors see any of their money returned.
“Realistically, very little will be returned,” Mr. Sarris said.
So… first it’s 10% on savings about €100,000… then we find out actually 40% was proposed… and NOW they reveal that realistically it could be as much as 80%.
As a quick aside, anyone who believes this could never happen in the US should consider that John Corzine stole over $1 billion worth of client funds during MF Global’s collapse in the US. Corzine is not in jail and in fact remains one of the most connected financial elites in the US. Indeed, NO ONE went to jail for MF Global’s theft.
There can be little doubt that European elites took note of the MF Global case and believed a similar idea could be foisted upon the European public during extreme times of Crisis. The only difference between MF Global and Cyprus is that in the former case the funds that were stolen were invested in commodity futures and other securities whereas in Cyprus they were savings.
Investors take note: a major development is at hand. As bankrupt nations and banks continue to spiral downward there will be more and more desperate attempts to plug the holes in their balance sheets by any means necessary.
The idea of confiscating savings is now on the table. And under an extreme enough crisis, this idea could indeed be implemented: the proposal will likely be “you, the people of this nation can choose…we can take 7% of your savings and your bank remains afloat or you lose everything.” Be prepared for this.
Given what is happening in Europe right now, we wanted to alert investors to a major development we’ve noticed in the markets.
The markets look to be setting up for the next Crisis. Indeed, multiple metrics we track are flashing RED ALERT.
To read more about this…
Best Regards,
Graham Summers
Chief Market Strategist
2013-03-28 08:30:25
Source: http://gainspainscapital.com/2013/03/28/an-80-wealth-confiscation-scheme/
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Whistler Blowers, Insiders
Blame Germany for the massive spending for social programs by progressive leaders and their greedy low info voters in other countries. If you borrow money you can’t afford to pay back you could lose almost everything. If your a government that does it then is ok. They will just take it from you. Some governments should fail……
When they are ready. The populous will be so worn out through attrition they’ll just give it up. How will it happen?
The nations will be subject slow penury, the will of the people crushed. A forlorn hopeless population will role over. You may say “no way” but I say it will happen. It will be drawn out over a very long period. Look at the USSR…….The equivilent of a whole continent crushed into peasantry.
I want every single reader to under stand the trick played here.
The Banks are TRUSTEE’s under CFR 12. Banks LEND NO BANK MONEY AND LOST NO BANK MONEY. Not for Mortgages or credit cards. This is in a letter by the Comptroller of Currency, going back to 2005/ They are under a Security Agreement in Commerce, under the 4th Amendment. I want every one to look up how many ‘commerce secretary’s have been murdered. They know of the breach in Law. It is not just the Banks, but ATT, Reliant, all of the service corporations were regulated because they are UNDER the Security agreement and are PREPAID – U.C.C. 3-409 was their repayment of their debt, which lowers the national debt – the money they owed the people whose names they are robosigning.
What the Banks have done is take the Debt they owed to the public, and then make the public the surety for that debt owed by the Corporations. This allows them to change the proper term “Creditor” to “Debtor” which is false. You are the SOLE CREDITOR of these accounts. This is your money – when you give your wages for deposit to the banks you are lending the bank money, that is what the legal purpose of the deposit receipt is. Their debt to you. When they became incorporated they entered the security agreement which allows them to borrow your credit, good will, Security/Bonds money and this allows them the ability to ‘incur debt’ and ‘do business as’.
So they are discharging money from your own account that is under the 4th Amendment, & then claiming to be the lender and able to use color of law to foreclose, etc. By taking money by robo-signing, and then charging cash to the individual again for the same bill, this is creates a double entry of Debt on the books; this is how they cooked the books to 40+trillion. It is the same accounting that makes it “an obstruction of a bankruptcy to pay cash to a corporation in bankruptcy” because it increases the debt owed.
Then they ‘BILL’ for their revenue and ‘Tax’ the people for that new higher amount. This is the ‘Debt Cliff’ & this is how they raise the ‘check’ that they force you to pay each time.
Even though it is money they owe you, and have already stolen from your accounts under the 4th Amendment without your knowing.
These ‘leaders’ are neither ‘progressive’ nor are they using the money for any voted on social program. Less than 5% of any money collect by corporate charity or corporate government branch goes to the people. The game was to absorb the money by increasing the ‘branch’ followers and taking billions in revenues. It is a large Pyramid scheme and this is why so many recognize that the ‘government is top heavy’.
People in commerce, who are able to trace the instruments by the Cusip which is your ss# are finding trillions siphoned off by this back door created by the Nation Bank Secrecy ACT (an ACT is defined as a ‘removal of a Right’) and that all Corporations have access, but the people whose name the account is in do not. The bankers were made the Trustees, the Fiduciary is the Treasury, and the Congress made themselves the beneficiary above the individual account holders right to their own account.
“Covet Means” is targeting what the Coven Covets, then altering by-laws and records in order to use force of law to seize what they coveted. This allowed them to breach the 4th Amendment, without anyone seeing it. All of it is behind closed doors…all the way to the top. This is done with the express intent of collapsing a national economy, and then claiming ‘law’ in order to seize things. It was known as a premeditated method of mass murder of a society – they refuse services that are necessary to life, ie water, food, fuel; and it is punishable under common law by the death penalty for that reason.