Guest 714- Registered: 14 Apr 2011
- Posts: 2,594
Don't get so emotional and hyperbolic Keith, since time began theres been kings and people have starved in Africa, you and I can do nothing about it, even if we could we wouldn't bother.
If you want examples of poverty go to Cyprus in a few months, after all thats what this thread is about, not wringing your hands because people are hard up.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
no emotion
just a view
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Correct that David - all that hand wringing is pointless. What are needed are practical solutions to revitalise our economy not wimpering on about 'unfairness' or envy. That is moral, getting something done to improve things is very moral indeed.
Self indulgent envy and moaning about inequality while objecting to what has to be done is deeply immoral.
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
# 38......rvh post said........``Could it also be seen as another way to retrieve avoided and evaded tax ?.....
# 38.....is BW`s normal twisted version.....par for the course......
Keith Sansum1- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
Yep reg justifying it to!!!!!
ALL POSTS ARE MY OWN PERSONAL VIEWS
Guest 710- Registered: 28 Feb 2011
- Posts: 6,950
Some who are in receipt of public funds subscribe to satellite TV, others...
From...
http://rt.com/in-vision/cartoons/
One year after IMF bailout, Greece still big on military spending
http://rt.com/news/eu-greece-bailout-arms-spending-273/Ignorance is bliss, bliss is happiness, I am happy...to draw your attention to the possible connectivity in the foregoing.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
While we do have several threads running on this topic, this one appears the most appropriate for the latest update:
A 100% confiscation on Cypriot bank savings above 100,000 euro looks very much on the cards:
From Before it's news:
"Bank of Cyprus savers will see 37.5 per cent of any deposits over €100,000 (£85,000) converted into shares in the bank, with a strong possibility that these will prove worthless.
Another 40 per cent will be repaid only if the bank does well in future,
while 22.5 per cent will go into a contingency fund that could be subject to further write-offs.
Laiki Bank customers are also reported to be facing the loss of 80 per cent of their deposits above the £85,000 limit."
These figures have appeared in separate sources compiled by various analysts and are based on the official EU-IMF bailout deal.
In essence, the part of savings converted into shares may be a hoax, as the shares are currently worthless, and probably will remain so.
And as for the 40% that would be given back to the savers, the two main banks in Cyprus are not obliged to repay it if they do not "do well enough", which is a most likely feasibility.
As for the contingency fund, it follows the same reasoning: it may never be paid back if the banks do not come out of the red.
Alarm bells should ring here, as Spain's Bankia converted depositors savings into shares in 2011, which were worth 3.75 euro each, but now are worth 1.5 cents (yes, one and a half cents).
Those savers in Spain's Bankia who converted their deposits into shares following a massive bank bailout, have lost all those deposits.
The EU is not telling us anywhere near the whole truth, nor half of it, or even a fraction of it.
This is very much a 100% confiscation above 100,000 euro (£85,000), and conversions to bank shares mean total confiscation.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
alex,thats a big whinge,have you over 100,000 euros in the particular bank.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Apparently, when Cyprus's president, who is a communist, was elected in 2008, the year Cyprus joined the euro, the country and its banks were in good economic shape.
It is now believed the country's government followed EU/eurozone directives in 2008 to invest the banks' money in rubbish papers such as Government bonds both of the Cyprus and the Greece treasuries.
The question arises, who gave orders at the two major Cypriot banks: the original chief bankers, or the communist and EU politicians? The latter, it would appear.
As an aside, it is speculated that most Russian money invested in Cyprus did not go in either of the two bankrupt banks, but in smaller banks that escaped insolvency, not having invested in government bonds.
This is a Trilogy unfolding in real time, it may lead to the collapse of the European Union.
Questions are being asked, calculations do not add up, and the finger points to an EU (and possibly IMF) interference in banking policies at political/government level that has led to bank and State insolvency resulting in mass confiscation of savings.
The "investment in shares" policy to confiscate bank accounts is an EU scam, it has proven to be a hoax in Spain, and Cyprus will be the same.
Things may turn ugly, as the EU cannot impose a law to prevent people arriving at the real conclusions, and there may be legal consequences with lawsuits being filed against the European Union.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
this had all gone rather quiet, i assumed the bail out had gone through - not so.
http://www.guardian.co.uk/world/2013/apr/09/clock-ticking-cyprus-dealGuest 696- Registered: 31 Mar 2010
- Posts: 8,115
That news hit my radar yesterday, Howard, but there was more attached to it:
not only Cyprus, but now Slovenia, another eurozone member, is approaching Defcon 1 at an alarming pace.
And possibly Portugal is in for turbulent times.
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
Maybe it will be better for Cyprus to leave the Euro - then watch other countries consider it too, mostly southern European countries, who have not much else to export, but the sun.
Roger
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
slovenia and portugal indeed alex, the latter has just unveiled an austerity programme that has not gone down well with the populace.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Croatia is the 28th member of the European Union.
The news has been kept under censor by the Government here, even though EU expansion is a fundamental part of Coalition policy.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
No sooner had one messenger left, another came in with even worse tidings.
"Cyprus Crash Fear As Bailout Cost Jumps 31%"
"The Cypriot government has confirmed that the cost of its EU-IMF bailout has jumped by 31%, putting the already teetering economy in danger of collapse."
From Sky News:
http://news.sky.com/story/1076883/cyprus-crash-fear-as-bailout-cost-jumps-31-percent
"The announcement means southern Cyprus will now have to find 6bn euros (£5.1bn) more than the 7bn euros the Nicosia government needed to raise in order to secure the EU-IMF bailout of 10bn euros (£8.5bn)."
Looks like a total confiscation, then.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
alex,have had your wheetabix today,thats a big moan.wheetabix courtsy of food bank i presume.
Guest 745- Registered: 27 Mar 2012
- Posts: 3,370
And it will happen in the uk when the lending runs out
the debt will drowned us all
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
kieth,time to take swimming lessons,the sports center do a good course in lessons
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
No Brian, I don't receive supplies from food banks.
Yes, Keith, something may be brewing up, judging by the recent voluntary sacrifice of a knighthood and 30% of the pension of an HBOS ex-chief banker.
Perhaps some top bankers are preparing to voluntarily give up some bonuses present and past, together with a part of their golden pensions. Golden handshakes and salad dressings to boot!
Watch this:
It's coming!
