The Greek people are anarchic and difficult to tame. For this reason we must strike deep into their cultural roots: Perhaps then we can force them to conform. I mean, of course, to strike at their language, their religion, their cultural and historical reserves, so that we can neutralize their ability to develop, to distinguish themselves, or to prevail; thereby removing them as an obstacle to our strategically vital plans in the Balkans, the Mediterranean, and the Middle East.
(As reported in the popular Greek magazine, Oikonomikos Tachydromos on 14 Aug. l997, Henry Kissinger, while addressing a group of Washington, D.C. businessmen in Sept.1974)
I've said it before, and I'll no doubt say it again, all this started after the Bilderbergs met in Greece. I'm sure it's a case of "If we can crack the Greeks we've got Europe in the bag..."
@WuB...that was a guddun...did you see this mornings one where Stacey herbert says NZ and Spain have passed into legislation the same 'haircuts' the Cypriots are now undergoing? It's not up yet...but incase anybody can't see it 'live' on RT, it will appear here www.telegraph.co.uk/finance/debt-crisis-...us-bailout-live.html
later today.
I have also found that Canada has already passed something very similar to the Cypriot haircut....!
Titled ECONOMIC ACTION PLAN 2013 and tabled in the House of Commons by Minster of Finance James Flaherty on March 21st, the official 2013 Canadian budget contains an explicit provision that Canada will pursue the bail-in model for systemically important banks for future bank failures! from Page 144:
“The Government also recognizes the need to manage the risks associated with systemically important banks—those banks whose distress or failure could cause a disruption to the financial system and, in turn, negative impacts on the economy. This requires strong prudential oversight and a robust set of options for resolving these institutions without the use of taxpayer funds, in the unlikely event that one becomes non-viable.”
from Page 145:
The Government proposes to implement a bail-in regime for systemically important banks. This regime will be designed to ensure that, in the unlikely event that a systemically important bank depletes its capital, the bank can be recapitalized and returned to viability through the very rapid conversion of certain bank liabilities into regulatory capital. This will reduce risks for taxpayers. The Government will consult stakeholders on how best to implement a bail-in regime in Canada. Implementation timelines will allow for a smooth transition for affected institutions, investors and other market participants…
@WuB...that was a guddun...did you see this mornings one where Stacey herbert says NZ and Spain have passed into legislation the same 'haircuts' the Cypriots are now undergoing?
I haven't seen in yet, but I watch every episode. Exciting life that I lead...I knew about New Zealand, but Spain I'd not heard about. I wonder if Jessia Ennis et al will do a new Santander advert to celebrate? You can get 1% cashback on your energy bills. Admittedly, we've frozen your account and stolen 40% of your money...
It's coming to the whole of Europe and these shores sooner or later. People are not ready to face up to it yet, but there is no bank in Europe that can guarantee they won't freeze your account. Thanks for all the stuff you've posted on this thread, I'm taking it all in.
The true measure of a man is not his intelligence or how high he rises in this freak establishment. The true measure of a man is this: how quickly he can respond to the needs of others and how much of himself he can give - Philip K. Dick.
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Pay 10% of Your Savings to Save the Eurozone
28 Mar 2013 13:08 #625
Come to think of it, me thinking greece was a target (not that everywhere else aint, but anyway...) perhaps kicked off when i was in the museum of athens and one of the guides said a few things which stuck with me, actually it turned into a bit of a rant, until she was shooshed by another one.
She helped with my edumacation.
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Pay 10% of Your Savings to Save the Eurozone
28 Mar 2013 13:14 #627
20.50 The Cypriot Church has won an injuction to avoid being wiped out in the bailout, CNBC reports.
And,,,,,,
20.01 French president Francois Hollande says his country will never tax bank deposits. Companies that pay their employees more than €1m will see their tax bill on those salaries rise to 75pc.
He adds that austerity condemns Europe to social "explosion".
From the Telegraph link provided
Jane
"love it better"
the more you sweat in peace, the less you bleed in war
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Pay 10% of Your Savings to Save the Eurozone
28 Mar 2013 23:24 #629
20.50 The Cypriot Church has won an injuction to avoid being wiped out in the bailout, CNBC reports.
And,,,,,,
20.01 French president Francois Hollande says his country will never tax bank deposits. Companies that pay their employees more than €1m will see their tax bill on those salaries rise to 75pc.
He adds that austerity condemns Europe to social "explosion".
From the Telegraph link provided
Jane
Cyprus and the Troika did not 'tax' bank deposits
“Fascists are not human. A snake is more human.” - Hugo Chávez
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Pay 10% of Your Savings to Save the Eurozone
29 Mar 2013 13:39 #630
Slovenia faces contagion from Cyprus as banking crisis deepens
Slovenia’s borrowing costs have rocketed over recent days as it grapples with a festering financial crisis, becoming the first victim of contagion from Cyprus
It's not just one 'crisis', though, there's another 'crisis' referenced within the same article:
Italy faces its own crisis after last-ditch efforts to form a government collapsed on Thursday night, raising the likelihood of a caretaker leader and fresh elections.
Mr Callow said it is hard to see Italy can now comply with the strict terms of an EMU bail-out, which in turn leaves it is unclear whether the European Central Bank’s back-stop for Italian debt is still valid.
So that would be the subprime mortgage crisis, the credit crunch crisis, the sovereign debt crisis, the bank bailout crisis, the Icelandic financial crisis, the Irish financial crisis, the Greek financial crisis, the debt ceiling crisis, the Spanish financial crisis, the fiscal cliff crisis, the Italian financial crisis, the housing bubble crisis, the Portugese financial crisis, the Cypriot bank levy crisis, and now the Slovenian banking crisis. These are just a few crises that I can recall from the last five years. You do reach the point where you wonder whether these can legitimately be described as separate crises.
The true measure of a man is not his intelligence or how high he rises in this freak establishment. The true measure of a man is this: how quickly he can respond to the needs of others and how much of himself he can give - Philip K. Dick.
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Pay 10% of Your Savings to Save the Eurozone
29 Mar 2013 13:43 #631
Mr Callow said it is hard to see Italy can now comply with the strict terms of an EMU bail-out, which in turn leaves it is unclear whether the European Central Bank’s back-stop for Italian debt is still valid.
So that would be the subprime mortgage crisis, the credit crunch crisis, the sovereign debt crisis, the bank bailout crisis, the Icelandic financial crisis, the Irish financial crisis, the Greek financial crisis, the debt ceiling crisis, the Spanish financial crisis, the fiscal cliff crisis, the Italian financial crisis, the housing bubble crisis, the Portugese financial crisis, the Cypriot bank levy crisis, and now the Slovenian banking crisis. These are just a few crises that I can recall from the last five years. You do reach the point where you wonder whether these can legitimately be described as separate crises.[/quote]
Absolutely brilliant WuB...thank you! I could almost see you tearing your hair out!
Jane
"love it better"
the more you sweat in peace, the less you bleed in war
Absolutely brilliant WuB...thank you! I could almost see you tearing your hair out!
Jane
It's a bit frustrating to see the media STILL using the same language, and to see The Guardian more bothered about whether the Eurozone survives so they don't lose face than actually providing a sensible perspective on what's going on. You don't need to be a genius to see it, and just in case they don't know, their comments section is absolutely full of people pointing out the bleeding obvious to them!
The true measure of a man is not his intelligence or how high he rises in this freak establishment. The true measure of a man is this: how quickly he can respond to the needs of others and how much of himself he can give - Philip K. Dick.
Think Your Money is Safe? Think Again: The Confiscation Scheme Planned for US and UK Depositors
Confiscating the customer deposits in Cyprus banks was not a one-off. It could happen here.
March 28, 2013
Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.
Can They Do That?
Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay. (See here and here.) But until now the bank has been obligated to pay the money back on demand in the form of cash. Under the FDIC-BOE plan, our IOUs will be converted into “bank equity.” The bank will get the money and we will get stock in the bank. With any luck we may be able to sell the stock to someone else, but when and at what price? Most people keep a deposit account so they can have ready cash to pay the bills.
The 15-page FDIC-BOE document is called “ Resolving Globally Active, Systemically Important, Financial Institutions.” It begins by explaining that the 2008 banking crisis has made it clear that some other way besides taxpayer bailouts is needed to maintain “financial stability.” Evidently anticipating that the next financial collapse will be on a grander scale than either the taxpayers or Congress is willing to underwrite, the authors state:
An efficient path for returning the sound operations of the G-SIFI to the private sector would be provided by exchanging or converting a sufficient amount of the unsecured debt from the original creditors of the failed company [meaning the depositors] into equity [or stock]. In the U.S ., the new equity would become capital in one or more newly formed operating entities. In the U.K., the same approach could be used, or the equity could be used to recapitalize the failing financial company itself—thus, the highest layer of surviving bailed-in creditors would become the owners of the resolved firm. In either country , the new equity holders would take on the corresponding risk of being shareholders in a financial institution.
Also....for those of you have Sky box things...History channel on Monday (Easter) programme entitled The Men Who Built America. All about
John D. Rockefeller, Cornelius Vanderbilt, Andrew Carnegie, Henry Ford and J.P. Morgan
Jane
"love it better"
the more you sweat in peace, the less you bleed in war
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Pay 10% of Your Savings to Save the Eurozone
29 Mar 2013 14:20 #635
Slovenia faces contagion from Cyprus as banking crisis deepens
Slovenia’s borrowing costs have rocketed over recent days as it grapples with a festering financial crisis, becoming the first victim of contagion from Cyprus
It's not just one 'crisis', though, there's another 'crisis' referenced within the same article:
Italy faces its own crisis after last-ditch efforts to form a government collapsed on Thursday night, raising the likelihood of a caretaker leader and fresh elections.
Mr Callow said it is hard to see Italy can now comply with the strict terms of an EMU bail-out, which in turn leaves it is unclear whether the European Central Bank’s back-stop for Italian debt is still valid.
So that would be the subprime mortgage crisis, the credit crunch crisis, the sovereign debt crisis, the bank bailout crisis, the Icelandic financial crisis, the Irish financial crisis, the Greek financial crisis, the debt ceiling crisis, the Spanish financial crisis, the fiscal cliff crisis, the Italian financial crisis, the housing bubble crisis, the Portugese financial crisis, the Cypriot bank levy crisis, and now the Slovenian banking crisis. These are just a few crises that I can recall from the last five years. You do reach the point where you wonder whether these can legitimately be described as separate crises.
Its the domino effect. I think Cyprus has kicked off something that can't be stopped.
“Fascists are not human. A snake is more human.” - Hugo Chávez
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Pay 10% of Your Savings to Save the Eurozone
30 Mar 2013 09:26 #638
Just announced on Sky..Reuters are reporting that Bank of Cyprus are going ahead with a 60% haircut on accounts over 100.000! Going to look for linky backup.
Jane
"love it better"
the more you sweat in peace, the less you bleed in war
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Pay 10% of Your Savings to Save the Eurozone
30 Mar 2013 12:50 #639
Just announced on Sky..Reuters are reporting that Bank of Cyprus are going ahead with a 60% haircut on accounts over 100.000! Going to look for linky backup.
Bank of Cyprus savers with more than 100,000 euros now face 60 PER CENT losses as officials scramble to prevent collapse
Bank insider and government technocrat anonymously reveal latest plan
Deposits over 100,000 euros will lose 37.5% of their value
Savers then stand to lose a further 22.5% depending on an assessment
Cypriot banks refusing to release UK pension payments to expat Britons
President of Cyprus says there is 'no intention' of leaving the eurozone
So I think that's quite concrete. Equally, it's important to note that all savers with over 100,000 euros are going to lose at least 37.5%. Previously it was stated that it would be as much as 40%, now you can virtually guarantee that they'll all lose 40%, and many will lose a lot more.
This is beyond outrageous.
The true measure of a man is not his intelligence or how high he rises in this freak establishment. The true measure of a man is this: how quickly he can respond to the needs of others and how much of himself he can give - Philip K. Dick.
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Pay 10% of Your Savings to Save the Eurozone
30 Mar 2013 13:14 #640
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Absolutely brilliant WuB...thank you! I could almost see you tearing your hair out!
Going to look for linky backup.
