Cyprus now wants to take 80%

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When they first toyed with the idea that they would confiscate funds from private accounts, the EU and Cyprus said they’d only take 6 to 9.9% of the funds. Then it was only accounts that had over 100,000 euros in it. Then when it was passed the percentage suddenly went up to 20%-30% and now 80% is being floated out there as an idea. How is no one in the streets over this?

Russia Today reported:

Cyprus Popular Bank’s richest clients with uninsured deposits over €100,000 could get only 20% of their money, as the government eyes to wind down its operations, says Finance Minister Michalis Sarris.

“Realistically, very little will be returned,” Sarris said in a televised interview with state broadcaster CyBC, adding that it could also take years before those depositors see any of their money back.

“Certainly, for depositors above 100,000 euros it could be a very significant blow,” Sarris concluded.

  • snowleopard (cat folk gallery)

    Cyprus and the EU are now up to 80% on those who have more than 100K Euros in the banks? 

    Up front, the Blaze had an article earlier this day that some of the restrictions imposed on the depositors had been lifted, mostly concerning the credit – cards the last time I checked.

    Here is the core of the matter – how long will it take the EU/Cyprus government to begin the seizure of private land, gold, jewelry, artwork and anything of any value – intrinsic or otherwise – to ‘help balance the books ‘ or ‘save the banks.’

    This is no more than a test bed for the rest of the EU and ultimately America, for how much of a crisis will it take for people to say, after banks are closed for two weeks and ATM’s are dry, “I am glad my money is safe” for those with less than 100K in the bank, and for others to say, ‘at least some of my money is safe.’

    How long will it take, especially given in America that few families have the means of cash on hand (not just in the bank) to survive for more than a few days?

    • William Vining

      What a load of crap.

  • snowleopard (cat folk gallery)

    Cyprus – test run – entry level 100.

    Next test run – Europe and other larger nations, with America at the finish.

    • Stacy T. Bonner

      If you think Daniel`s story is something…, two weeks ago my friend basically recieved a check for $9988 putting in a ninteen hour week from home and their roomate’s mother-in-law`s neighbour has been doing this for 6 months and got a cheque for over $9988 part-time On there laptop. applie the advice at this site.  .

    • Shane

       As long as the American people have guns, Obama won’t try something like this.

      • Shameer Mulji

        You wanna bet? Obama has the most constitutional violations of any President of the last 100 years.  He’s a puppet of Wall Street and I wouldn’t put it past him.

    • William Vining

      It is incredible just how misleading this Glenn Beck screed is.  Cyprus is not “confiscating” anything, these are un-insured bank deposits in banks that have failed. Cyprus is nothing more than the European version of our Cayman Islands, where Russian mob kingpins and corrupt politiicians deposit their vast wealth, unfortunately for them in a badly managed bank, and now they are about to lose their money.  If anything, the whole Cyprus mess is all about what happens when you de-regulate the banking system, something we just learned ourselves in 2009.   Now the depositers get to pay the piper.  This is why the US Stock Market has just shrugged the whole thing off, totally ignoring it, while demagogues like Beck use the situation to scare you gullible twits into buying more gold at inflated prices, the rest of us are making a killing in the Stock Market.  There is no “America at the finish”, we are a nation of laws with a highly regulated and insured banking industry, unlike Cyprus, and even at the worst of the 2009 Bush Meltdown, depositers lost nothing.  It is amazing what total rubes you people are to buy this rubbish being pushed by Beck over this postage-stamp sized nation.

      • Anonymous

        A bank gets its funds from the people it doesn’t simply go bankrupt without the people losing their funds. You are not only blind but ignorant.

      • Anonymous

        What would you do if you were a citizen of Cyprus?  If there was an economic crisis and a run on American banks, I think you’d be a bit outraged about the difference in getting by on $20,000 as opposed to getting by on $100,000.  What is this Bush Meltdown of 2009?  Did he get too drunk after some time off and do something embarrassing?  That kind of meltdown?  Obama was prez by then and hadn’t instituted any policy to effectively combat the housing crisis.  The Dodd-Frank act has made it extremely difficult to get a loan on anything…except a home.  But another housing crisis is on the way.  The interest rates are shooting up again on mortgages and unemployment remains steadily near 8%.  Health care costs are rising, gas prices are rising, and if the minimum wage goes up food prices will skyrocket.  When the next wave of bailouts comes, I’m thinking late 2014, even $100,000 would probably only get you a used car.  Good luck man, we’ll both have to deal with it.

      • JK

        If you’re making such a killing in the market how do explain it? The devaluing of the dollar simply makes the market look more inviting. Earnings are inflated while expectations are lowered. You only look like a winner until, guess what, Ben shuts off the presses. Why do you think most of the “industrialized” Nations are abandoning the dollar. With the printing from Big Ben hyperinflation is the only boom I see.

      • MarsBarsTru7

        Let’s just lay all the peripheral issues aside.

        The Cyprus banks are “failing”. They’re failing largely because Greek debtors (the government of Greece) were allowed to essentially say, “Yeah, I don’t owe you $10 anymore. I owe you $4″. This is thanks to the European Union who said this was how it was going to go down. So, now the Cyprus banks have lost tons of money… more than what they’re supposed to have by way of what depositors have put into their banks. Now, consider that the Cyprus government officials and various EU entities have money invested in Cyprus banks. If the banks in Cyprus fail, these EU entities and the Cyprus government take a financial hit to the nose. So what do they do about it? They tell the Cyprus banks that they are going to get a bailout. But, to cover the bailout, the EU and the Cyprus government are going to take a huge chunk of money away from the depositors who have money in those very same Cyprus banks. Now, for the Cyprus government and the EU, they are essentially taking a chunk of money from their own deposits to cover their own asses. But the difference, and the lion’s share of that money, comes from everyone else having their money taken from them to cover the “bailout” debt used to save the Cyprus banks.

        Get it numbchuck? It’s the U.S. bailout. It’s a scheme. U.S. govt. officials and people in the federal reserve used everyone else’s money to cover their debts. Cyprus’ govt. and the EU are doing the same freaking thing in Cyprus.

        “Oh, but we’re insured here in the U.S. It will never happen here.” It DID happen here. Anyone that understands how the U.S. banking bailout worked knows that it’s pretty much the same exercise with different numbers and different faces and a slightly different process. Only here, they “print” our debt and take our money through taxes – from EVERY taxpayer – not just the ones with over a certain amount of wealth – to cover their own asses.

        And it was the “regulated” economy that almost imploded, not the layman’s economy which is only effected because the “regulated” economy exists at all.

        Oh yeah, and the “meltdown” began in 2008, not 2009. 2009 was just the beginning of the full tilt Democrat control of our government.

        Get a clue “rube”.

        But forgetting all that, how the hell do you justify the notion that *depositors* have to “pay the piper” for a banking system and currency failure induced by government (debt write off overseen by EU)? What logic are you following there? And how is a government levying money from private bank accounts not confiscating? Is English even your first language?

        Oh, and as for gold being a bad idea… Yeah, I had friend who was a professor at the local college here telling everyone pre-2008-crash that everything was fine and that our well regulated economy was fine and that nothing bad would happen. He also said gold was a bad idea. Yet, right after the crash happened I convinced him to buy gold. He invested nearly a third of his disposable wealth in gold. He bought it at less than $700/oz. Ya think we’re still friends?

        Oh, and so you’re making money off stock right now? Good for you. Take advantage of the usury system while you can, eh Billy boy? Everything is springing up daisies for you? Meanwhile nearly half the people in this country are floundering because of this same economic system you benefit from. I’ll bet you just looooved the bailouts, didn’t ya? Never mind the entrepreneurs that work their asses off to make their businesses eek out a living for them while struggling to meet the demands regulations and taxes impose upon them. Never mind the ones who have had to close shop because of these conditions. You’re making money, so who cares? Never mind the people whose pensions have disappeared and life savings dried up because this same “well regulated” economy you do well in wiped them out and caused the companies they worked for to go belly up.

        Everyone else is just “paying the piper” right? The nearly 50% that comes out of the paycheck of any regular Californian making $100K a year or more… The ~40% that comes out of the $70K range… They’re just paying their dues. You’re cool with it, even if they aren’t. How about those who bought houses when the govt. induced real estate bubble was at its peak? How about homes that are now valued half or less than half of what they were bought for? How about those same people dealing with rising well-regulated utility costs? How about those same people dealing with rising gas prices? How about those same people dealing with rising food prices? How about them dealing with higher crime rates? And now they’re not able to buy a gun in the well-regulated economy. Who cares? You’re making money off stocks in this well-regulated economy.

        Do you have any idea how much of a complete jackass you are?

  • Sam Fisher

    It is not over yet how much do you want to bet that they take all the money out of the banks next.

    • SoThere

      Those people are never satisfied until it’s 100%. Obama and the libtards are no different. Nancy Pelosi said so.

      • Anonymous

        I hadn’t read your post when I posted my comment. Oh well, a little redundancy never hurts.

        • SoThere

          Libtards need to be constantly reminded that they’re not fooling people like us.

          • Anonymous

            Amen! They love to believe their own press.

          • Anonymous

            “They love to believe their own press.”

            And their own POLLS, too.

    • Anonymous

      Sounds like they’ve already DRAINED the bank accounts and are just now getting around to mentioning it to the depositors.

  • J Cole

    80%? Just like White men voted in the last election for Romney yet claim that it’s only blacks who are racist?


    • Anonymous

      Happy GOOD FRIDAY
      So much happy for you huh NOT LOL

  • Anonymous

    Matthew 6:24
    The choice is coming to a country near YOU and then there was none !!!

  • Anonymous

    This is desperation by the government elected by the people. If this works in Cyprus, watch for it to happen elsewhere, especially countries with huge debts….which means all western nations! This is exactly what Soros is aiming at and the bankers are salivating.

    • Anonymous

      Well, they might get more than they bargained for, with their “salivating”… If people get HUNGRY ENOUGH, the BANKERS and Soros-types could be the first to go into the cooking pot!!!

      • Scott Todd

         I hate to say this but the uber rich undoubtedly have their escape plans in place.  It’s unlikely you’d ever find them let alone kill them.  At this point it would take an act of God (and that brought about only by mass repentance) to bring them down.  No doubt there’s an especially hot spot in hell for George Soros for all the misery he’s caused in the world.

        • Anonymous

          Who said anything about “killing” them? Was thinking more along the lines of “ultra-FRESH”–like they do in some Asian restaurants, where the food is crawling off the plate. –Just kidding…

        • Anonymous


  • Anonymous

    The statement that “Cyprus now wants to take 80%” is a complete lie. They clearly want 100%!
    It’s just that 80% seems SOOooo much more REASOnable!! Time to get out the duct tape and wrap our heads again before the internal pressure exceeds the safety limits!

  • Anonymous

    I think they should take everything.  Just like here these people in government just weren’t born into that office they had to be elected.  The people of America get just what they deserve.  How many elections does it take to get those people out of office? yet they are still being voted into them.  Wow, think they would learn.  I am not the brightest bulb in the box, but it only takes one time for me and if it isn’t working I quickly make changes.  That is what we need to do and as soon as possible.  We will not ever be the America of times past, but we will have the corrupted and lazy politicians out of office including Obama.

  • Anonymous


    • Anonymous

      A lot of workplaces are requiring people to sign up for direct deposit as a condition of employment these days.  That sounds fun.

  • yingling777

    People all over the world need to work together on this.  The people need to stop working and devalue money themselves.   What would the governments do if there was no money to steal?

  • yingling777

    The people don’t have guns in Cyprus.

  • Anonymous

    If what is being contemplated in Cyprus were to spread to banks in the US, it would be the end of the banking industry here. The “too big to fail” banks that Obama is protecting right now would cease to exist. Most wealthy people don’t have their money in the banks anyway. They keep the majority of it in investments and they either do the trading themselves or have a good money manager do it for them. Cyprus Popular Bank, like most European Banks, is controlled by the government, so if the uninsured deposits don’t get returned, it is the government that is keeping them.

  • Anonymous

    WHAT ????  What has this to do with anything???   Get over you African American self alllllrrrreeeeaaaddddyyyy.!  Thank you!

  • Thorne Kontos

    Of course the “rich” knew ahead of time and got their money out…

    With every passing day, it becomes clearer and clearer the Cyprus deposit confiscation “news” was the most unsurprising outcome
    for the nation’s financial system and was known by virtually everyone
    on the ground days and weeks in advance: first it was disclosed that
    Russians had been pulling their  money, then it was suggested the president himself had made sure some €21 million of his family’s money was parked safely in London, then we showed a massive surge in Cyprus deposit outflows in
    February, and now the latest news is that a list of 132 companies and
    individuals has emerged who withdrew their €-denominated deposits in the
    two weeks from March 1 to March 15, among which the previously noted
    company Loutsios & Sons which is alleged to have ties with the
    current Cypriot president Anastasiadis.

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