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Showing posts with label Greece. Show all posts
Showing posts with label Greece. Show all posts

Monday, April 27, 2015

UPDATE: Can American Banks Raiding Safety Deposit Boxes Be Legal Next After they Loot their Customers Personal Accounts?

CV 1st posted 08.29.2012

"Yes, We Can! We don't need no phreakin' Constitution!"
                    ...and the people's response is:

the People say "You phreakin' DO need to obey the Federal and state constitutions!" Any actions to seize our private property by any federal agency or their law officers will be nullified by the individual states. Violators or trespassers of these personal rights can and will be arrested and judged in a state court. No federal magistrate has the granted authority to interpret or end-around our Rule of Constitutional Law.

Our own state law enforcement entities will no longer be a "team player" with tyrants, but will as they should be, do the right thing and become team players with the people, not accessories to oppression. 

Any bank likewise delegating these confiscations to third parties jeopardize their being prohibited for having any business authority or surrogates within those states.  

Questions? Watch:  ▶ Nullification a Tool We All Have by Thomas Woods - YouTube

Sunday, January 25, 2015

ECB to launch €1.1 trillion of quantitative easing

On one of these ECB monetary leaps of fiat faith the ECB will not have a bungee cord for its sovereign members. Maybe this time off the cliff is that monetary jump. Watch out below. Take a selfie for posterity. This will raise the curtain for the next planned "rescue"Act; entrance stage left: NAU and the Amero. Insurance policies with no "free look" period.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

ECB to launch €1.1 trillion of quantitative easing


By buying eurozone governments’ bonds using electronically created money – so-called quantitative easing– the ECB hopes to shore up confidence, boost inflation, and drive down the value of the euro on foreign exchanges, helping to boost exports and kickstart growth.








Mario-Draghi
European Central Bank President and ex-Goldman Sachs Managing Director Mario Draghi.

Mario Draghi, president of the European Central Bank, has announced that he will pump €1.1tn at a rate of €60bn a month into financial markets until September 2016, in an attempt to prevent the fragile eurozone economy from grinding to a halt.

In a keenly anticipated announcement at the ECB’s headquarters in Frankfurt, Draghi said the operation would continue, “until we see a sustained adjustment in the path of inflation”.

By buying eurozone governments’ bonds using electronically created money – so-called quantitative easing– the ECB hopes to shore up confidence, boost inflation, and drive down the value of the euro on foreign exchanges, helping to boost exports and kickstart growth.

The €60bn a month figure includes the purchases of private sector assets that the ECB had already begun to try to unlock credit markets.

Draghi said the decision on the ECB’s governing council was made with “so large a majority that no vote was necessary”.

The launch of QE is likely to infuriate Berlin, which views it as akin to a bailout for free-spending governments such as Greece. However, with average prices already falling across the eurozone, the ECB wants to avoid the threat of a deflationary spiral, in which consumers and businesses slash spending while they wait for prices to fall further, dragging the economy into a slump.

“While the sharp fall in oil prices over recent months remains the dominant factor driving current headline inflation, the potential for second-round effects on wage and price-setting has increased and could adversely affect medium-term price developments,” Draghi said.

In a concession to the Germans, Draghi promised that national central banks would bear most of the risk of their governments defaulting, with just 20% of the new bond-purchases subject to “risk-sharing”. In an aside that will be heard loud and clear in Athens, Draghi also warned that, “some additional eligibility criteria will be applied in the case of countries under an EU/IMF adjustment programme”. That could allow the ECB to exclude Greek bonds from QE if, for example, a future Syriza government ditched the austerity programme imposed by its creditors.
Syriza supporters in Athens greeted the exit polls with jubilation
 Draghi has promised to do “whatever it takes” to safeguard the single currency, and has repeatedly signalled in recent months that with eurozone inflation slipping well below the ECB’s 2% target, he felt more action was necessary. However, he stressed that QE alone would not repair the eurozone economy, and reforms by member-country governments would also be necessary.

“What monetary policy can do is to create the basis for growth, but for growth to pick up you need investment, for investment you need confidence, and for confidence you need structural reforms”. He urged governments urgently implement reforms, saying, “the more they do, the more effective our monetary policy will be.”

The ECB had already announced, in a statement earlier on Thursday, that it would leave its main interest rate unchanged at 0.05%.

Source: theGuardian

Saturday, December 20, 2014

New Laws That Allow The Government to Seize Savings Deposits During a Crisis or "Bail-In's"

Read also:
Jun 14, 2014
This document can be used to seize all the gold, stocks, bonds and anything valuable out of safety deposit boxes to fund the government if congress refuses to raise the debt ceiling or for some other financial crisis in the name ...
Mar 30, 2013
The Canadian Government Offers "Bail-In" Regime, Prepares For The Confiscation Of Bank Deposits To Bail Out Banks. Posted by Charleston Voice. Submitted by Reggie Middleton on 03/30/2013. Continuing my series of ...



Submitted by Phoenix Capital Research on 07/10/2014


Behind the veneer of "all is well" being promoted by both world Governments and the Mainstream Media, the political elite have begun implementing legislation that will permit them to freeze accounts and use your savings to prop up insolvent banks.

This is not conspiracy theory or some kind of doom and gloom. It's basic fact.

When a Cyprus bank went bust in 2013, the Government SEIZED 40% of ALL SAVINGS DEPOSITS OVER €100,000.

Here's the timeline:

·      June 25, 2012: Cyprus formally requests a bailout from the EU.
·      November 24, 2012: Cyprus announces it has reached an agreement with the EU the bailout process once Cyprus banks are examined by EU officials (ballpark estimate of capital needed is €17.5 billion).
·      February 25, 2013: Democratic Rally candidate Nicos Anastasiades wins Cypriot election defeating his opponent, an anti-austerity Communist.

The initial stage of this took over six months to develop. But once things got hairy, the seizure took place over the course of ONE WEEKEND.

·      March 16 2013: Cyprus announces the terms of its bail-in: a 6.75% confiscation of accounts under €100,000 and 9.9% for accounts larger than €100,000… a bank holiday is announced.
·      March 17 2013: emergency session of Parliament to vote on bailout/bail-in is postponed.
·      March 18 2013: Bank holiday extended until March 21 2013.
·      March 19 2013: Cyprus parliament rejects bail-in bill.
·      March 20 2013: Bank holiday extended until March 26 2013.
·      March 24 2013: Cash limits of €100 in withdrawals begin for largest banks in Cyprus.
·      March 25 2013: Bail-in deal agreed upon. Those depositors with over €100,000 either lose 40% of their money (Bank of Cyprus) or lose 60% (Laiki).

The most important thing I want you to focus on is the speed of these events once things hit the fan. Cypriot banks formally requested a bailout back in June 2012. The bailout talks took months to perform. And then the entire system came unhinged in one weekend.

One weekend. The process was not gradual. It was sudden and it was total: once it began in earnest, the banks were closed and you couldn't get your money out (more on this in a moment).

Cyprus is not some freak occurrence that could never happen anywhere else. The IMF has suggested to Governments around the world that they do the same (meaning STEAL deposits).

Again, this is not conspiracy theory. Germany just passed legislation that would permit PRECISELY this.

BERLIN--Germany's cabinet Wednesday approved plans to force creditors into propping up struggling banks beginning in 2015, one year earlier than required under European-wide plans that set rules for failing financial institutions.

The new bail-in rules are part of a package of German legislation on the European banking union--an ambitious project to centralize bank supervision in the euro zone and, when banks fail, to organize their rescue or winding-up at a European level.

Germany "leads the way" in Europe by implementing European rules quickly and "creates instruments that allow the winding-down of big systemically relevant institutions without putting the financial stability at risk," the country's finance ministry said in its draft bill seen by The Wall Street Journal.


So… Germany is "leading the way" in promoting plans to do a "bail-in." What is a "bail-in"? A "bail-in" is when bank accounts are frozen and then seized in order to prop up the bank… a "bail-in" is what happened in Cyprus. It is when savings are STOLEN.

The explanation given to those with money in the bank?

In common speak, "you can either give us 40% of your savings to keep the bank afloat or the bank collapses and you're left with NOTHING."

We also want to point out that the above article indicates Germany moved to implement this a year early in 2015 instead of waiting until 2016.
                                                                                                                     
Quick question…
Why would Germany want to rush in legislation that would allow it to freeze bank accounts and seize assets to prop up bankrupt financial institutions? Is it because everything is fine in Europe?

If you think this couldn't happen elsewhere you are wrong. Canada, New Zealand and even the UK and US have proposed similar measures. The next time stuff hits the fan, savings will be on the hook, not the Central Banks.

via ZH


Sunday, November 23, 2014

Will you be one of those Americans on the list to be given advance notice of the US "Confiscation Day"?

1st. published by CV in April 2013

List of 132 Names Released of Cyprus Elites and Companies Who Emptied Bank Deposits Ahead Of "Confiscation Day" for Commoners

ADDENDUM: Cyprus President's Family Transferred Tens Of Millions To London Days Before Deposit Haircuts 



From: SigmaLive / First Issue Date: April 01, 2013 10:30
 
Four pages with the names of some 132 companies and individuals who withdrew the bulk of their deposits in euros, dollars and rubles kept in local banks reveals a publication of the first issue.

Tuesday, June 17, 2014

Salary delays up to 12 months & “coupons” instead of “money” in Greece - Happy Medieval Days are here again!

Greek employees: salary delays up to 12 months & “coupons” instead of “money”

 
Greek employees: salary delays up to 12 months & “coupons” instead of “money”Do you remember the serfs and servants and villeins and peasants in the good old times of feudalism and the Middle Ages? If you don't, I have good news for you! The custom of working in return of goods instead of salary revives in Greece of modern European Union and of exquisite Euro area. The results of a survey conducted by the Labor Institute of the Confederation of Labor Union (GSEE) are shocking but not unexpected. KTG has often reported in the four years of blogging about these sweet little working and payment conditions of modern Greek slaves living under the feudal law of austerity, recession and  competitiveness.

Laborers receive salary with delays of 3 to 12 months.

Laborers receive 1/3 of their salary, the rest is being paying through services like sleeping in a hotel free of charge, free food and coupons for purchases of food and other goods from supermarkets.

All above cases refer to full time job of 8 hours per day for 25-30 days per month.

Employers who cannot pay salaries give:
1. free sleep in hotels, free food
2. pay salaries with at least 3 months delay and not on monthly basis.
3. they do not pay full 13th and 14th salary (for Christmas/Easter and vacation) as obliged by the Labor Law.  They give food items and fuel coupons, instead, and force employees to sign that they have received the full bonus. GSEE estimates that one million employees have not received neither the 13th nor the 14th salary.

Young employees below 25 years old get hired with monthly contracts for part-time work of 4 hours per day and for salary of €180 per month. By 25 working days per month this could be translated into a wage of €7.2 per day! – It makes no sense here to try to identify the wage per hour…. it could be some €1.72 per hour! I remember when the first labor 'reform' drastically cut wages in 2011, my readers could not believe that the per-hour wage was 3 euro!

According to Labor Law, minimum wage for those below 25 years old is €480 gross for full-time work. But who cares about the laws when jobs demand is high, unemployment is dancing and cash is short because the banks have been saved but they pour not a recapitalization cent into the market.

According to Labor Hiring  statistics for January-April 2014:
From 423,174 job vacancies,
232,383 were for full time job
140,527 were part-time jobs
50,264 were rotation jobs. (sources: zougla.gr, newsit.gr)

I suppose, Greek laborers will be soon allowed to pay their rent and utility bills with "food stamps" and "detergent coupons."

It's odd that while in 2011 ans 2012 Greeks made a step backwards to Dickens' times, in 2013 and 2014 had a big jump back to Middle Ages.

PS I can well imagine that in a couple of years, the Troika will complain about the shortage of labor craft and empty social insurance funds in competitive Greece.

Happy Middle Age society :p

Source

Wednesday, February 5, 2014

Your Savings, 401(k), and Retirement Are in Danger

Written by  William F. Jasper
 
“I went to sleep Friday as a rich man. I woke up a poor man. I lost all my money.” That was the tearful lament of 65-year-old John Demetriou, who lives in the fishing village of Leopetri on Cyprus’ southern coast. In one fell swoop, he lost his life savings — the result of 35 years of hard work and thrift — in the “capital levy” imposed on Cyprus by the International Monetary Fund, the European Commission, and the European Central Bank (ECB), a trio commonly known as the Troika.

In March of last year, the Troika announced that as part of its deal for resolving the Cypriot banking/financial crisis, Cyprus would have to impose a “one-off capital levy,” a one-time tax on savings deposits in Cypriot banks. 

This was sold to the public globally and in the EU as a necessary and just solution because Cyprus had become a haven for money laundering and Russian “oligarchs.” However, it was small depositors, not the big speculators, institutional bondholders, or Russian billionaires, who took the hit. According to reports from Cypriot, Italian, and German media, as much as 20 billion euros fled Cypriot banks in the early months of 2013, with 4.5 billion euros taking flight in just the week before the banks were closed and accounts frozen. Some of the “smart money” folks who were in the early capital flight, undoubtedly, were merely savvy savers who could see the writing on the wall and wisely moved their assets before the politicians could grab them. 

But credible reports charge that Cypriot president Nikos Anastasiades and Troika officials warned insider banking friends about the coming “haircut,” thus allowing those most responsible for the financial debacle to escape the levy, and leaving Demetriou, and tens of thousands like him, to foot the bill.

“It’s not Russian money, it’s not black money. It’s my money,” Demetriou told the Sydney Morning Herald. Demetriou fled to Australia from Cyprus with his wife and children in the early 1970s, during the country’s war with Turkey. 

Starting with nothing, he worked long hours six and seven days a week selling jewelry in the Sydney area markets. He retired to his native Cyprus in 2007, having amassed a respectable nest egg of nearly $1 million. He intended to build a home and have sufficient money to live comfortably and take care of his medical expenses. But those hopes and dreams have been largely wiped out; he may end up losing up to 90 percent of his savings.

Demetriou is but one of the many victims devastated by the Cypriot “haircut.” For many of them, especially elderly pensioners unable to go out and work to recoup the losses, a more accurate description would be “amputation,” or even “decapitation.”

However, regardless which anatomical metaphor is adopted, the key point is that the IMF-imposed “levy” should be named for what it truly was: a very brazen form of state confiscation, theft, robbery, plunder. And it represents a dangerous new phase in the politico-economic development of the “new world order.” It is not mere chance that the “capital levy” for common depositors was first tried on tiny Cyprus. With a population of barely a million and accounting for merely 0.2 percent of the eurozone GDP, Cyprus is an easy mark, and — from the standpoint of the Troika globalists — a good experimental case.

But to those who are paying attention, the signals are unmistakable that the lords of finance in the central banking fraternity do not view this as a “one-off” event; they plan to use this “tool” very broadly in the coming months. Indeed, the IMF and top central banking maestros have already said so, as we will show. 

And we are already seeing permutations of this (as in Poland) with the nationalization of private pension funds, and replays (as in Canada and New Zealand), with proposals for Cyprus-style depositor “bail-ins.” But the big prize being eyed, of course, is the United States. If you think that what has happened to Cyprus and Poland can’t happen here, you may end up, tragically, like John Demetriou, destitute and pauperized. Not only that, but you may find that, like the Cypriots, you have lost your freedom, your independence, and national sovereignty; that the policies affecting you most directly are being dictated by international bankers and bureaucrats beyond 
accountability through elections and national laws.

What the Cyprus/Poland experiences have very dramatically shown is that when the IMF and its allied politicians, economists, and central bankers start talking about “capital levies” it’s time to hide every penny you can. What they really mean is they intend to confiscate anything they can find: savings accounts, checking accounts, investments, pensions, home equity. But that is not all. In addition to a globally coordinated wave of “capital levy” taxation, the IMF/central banks axis of evil is also pushing an agenda of global inflation (under the labels of “stimulus” and “quantitative easing”) and global regulation (under the label of “macroprudential policy”). Global taxation, inflation, and regulation — all of which are aimed at confiscating global economic wealth — are a path to concentrating, and then confiscating, global political power. READ MORE> TNA

Monday, February 3, 2014

▶ Laying the Groundwork for Global Wealth Confiscation - Video


Published on Feb 3, 2014
JBS CEO Art Thompson's weekly news video update for February 3 - 9, 2014.

In this week's analysis behind the news video, JBS CEO Art Thompson discusses how the MyIRA program mentioned by President Obama in his State of the Union Address last week is reminiscent of the Social Security program introduced by another president in the 1930s; how the IMF is laying the groundwork for global wealth confiscation; how the voters must insist that their representatives uphold the Constitution rather than support changing the Constitution with a Balanced Budget Amendment (BBA), which won't solve the fiscal problems we have anyway; how anyone wanting to change the Constitution can't do so without taking into account the vast numbers of treaties, trade agreements, partnerships, and other foreign entanglements our nation has committed to; and how come the people who want a convention to change the Constitution don't talk about these issues -- which points to a hidden agenda.

Thursday, December 19, 2013

Friday, October 18, 2013

A Large Wealth Grab on Americans Could be On The Way

Submitted by Pater Tenebrarum of Acting-Man blog,
 Source Zero Hedge
IMF Discusses 'One-Off' Wealth Tax

It is undoubtedly nice to have a job with the World Bank or the IMF. One of the most enticing aspects for those employed at these organizations (which n.b. are entirely funded by tax payers), is no doubt that apart from receiving generous salaries and perks, they themselves don't have to pay any taxes. 

Monday, August 26, 2013

Western Warplanes Begin Arriving In Cyprus


Remember what the 2012 leaked Stratfor memo said about the focal point of western airborne power? Here it is again: "Syrian air defenses are a lot more robust and are much denser, esp around Damascus and on the borders with Israel, Turkey. 

Thursday, June 27, 2013

New EU Plan Will Make Every Bank Account In Europe Vulnerable To Wealth Confiscation

By Michael, on June 27th, 2013

Did you actually believe that they were not going to use the precedent that they set in Cyprus?  On Thursday, EU finance ministers agreed to a shocking new plan that will make every bank account in Europe vulnerable to Cyprus-style bail-ins.  

Tuesday, April 30, 2013

Monied Oligarchs escape as Cyprus crisis hits middle class

April 29, 2013 Angelica Azadyants, special to RBTH

Russian shopkeepers, small businesses and middle-class expats are among the victims of the island’s financial meltdown.

Oligarchs escape as Cyprus crisis hits middle class
Feeling the squeeze: Many in Cyprus took to the streets to protest as banks 
closed for two weeks and investors took a ‘haircut’ on their savings. Source: 
Getty Images
Although Russian savers of all descriptions, from private individuals and small businesses to corporations and institutions, have suffered in the Cypriot financial crisis, the effect is seen most starkly among the thousands of Russians actually living on the Mediterranean island.

Wednesday, April 24, 2013

The Real Face of the European Union - Traitors Within Your Gates - YouTube

Individual liberties and sovereignties can only be reclaimed by driving out your collaborative puppet politicians from your country's leadership. America's day to do the same will come and be too late for the masses here. There is no one left to come to your aid this time. Our enemies could never quell the patriot groups rebelling all at once. This was seen in the Greek resistance of WWII.

Tuesday, April 23, 2013

The End Of Fractional Reserve Gold Is Nigh

Tom Luongo
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I own physical gold, silver, and a few dairy goats specifically for times like these -- protection. (More...)
I'm more convinced than ever that with this takedown in the price of gold (GLD) and silver (SLV) that we are witnessing the end of the fractional reserve precious metals market. I alluded to it in my last article, citing an initial report from Andrew Maguire about a potential default at the London Bullion Market Association. He followed that up today with a more pointed comment about the situation that existed before the selling began:

Saturday, April 13, 2013

Was Cyprus Attack Also an Attack on Gold?

Friday, April 12, 2013
By Staff Report


Are We About to See a Global Gold Selling Spree? ... Heavily indebted euro zone nations such as Italy and Portugal could come under pressure to put their bullion reserves to work as a result of plans for Cyprus to sell gold to meet its financing needs. 

Tuesday, April 9, 2013

Deflation shows up in Greece: Inflation at -0.2% in March 2013

Posted by  

Greece’s consumer inflation dropped. According to Greek Statistics authority ELSTAT, it eased to an annual -0.2 percent pace in March from 0.1 percent in the previous month.

Herewith , it reached the lowest level after 46 years, since May 1968 when inflation hit -3 percent.

Sunday, April 7, 2013

Offshore Banking and the Shadow of the Gallows ...

By Anthony Wile
Anthony Wile

Is it over? This is an issue I want to address today because it has not been adequately reported by the mainstream media.

Listen closely and you will hear shrieks of silent, psychic pain emanating from luxurious apartments and boardrooms around the world. The wealthy have suddenly woken up after Cyprus and realized their world has irretrievably changed.

Sunday, March 31, 2013

Zypern Präsidenten Familie übertragen zig Millionen To London Days Before Kaution Haircuts

Tyler Durden's picture


Androulla Vassiliou,
  verheiratet mit ehemaligen zyprischen Präsidenten
George Vassiliou
Ein Tag nach dem ehemaligen zyprischen Präsidenten Vassilou wurde festgestellt, dass unter vielen Elite-zyprischen (Politiker und Geschäftsleute), die sein Darlehen von den großen (jetzt insolvent) Banken-off geschrieben hatte , es erscheint das rot ist weit Foulspieler als erwartet.

Cyprus President's Family Transferred Tens Of Millions To London Days Before Deposit Haircuts


List of 132 Names Released of Cyprus Elites and Companies Who Emptied Bank Deposits Ahead Of "Confiscation Day" for Commoners



Commissioner Androulla Vassiliou,
 married to former Cypriot president
George  Vassiliou
A day after former Cypriot President Vassilou was found to be among many elite Cypriot (politicians and businessmen) who had loans written-off by the major (now insolvent) banks; it appears the rot is far fouler than expected.

Saturday, March 30, 2013

Le gouvernement du Canada offre le programme «bail-in» Régime, se prépare pour la confiscation des dépôts bancaires pour renflouer les banques


Soumis par Reggie Middleton le 30/03/2013

Continue ma série de banques prêtes à «Chypre» de leurs déposants, je vous offre cette contribution lecteur de Don du Canada 29/03/2013 23:11:

Dans le cadre du budget de 2013 au Canada, le ministre des Finances a déposé le Plan d'action économique 2013, qui comprenait le plus récent mot d'ordre «bail-in» Source:. budget.gc.ca / ... / ...
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