The Stealing By Banksters Must Stop
I hate to admit but I think Michael is right. Cyprus just might be a test case to see how the public will react to the banksters (with government assistance) doing a shakedown of the public for their misconduct.
Bank holidays are coming to America at some point. It has happened before during the 1930’s. It can happen again. This time we could have our own version of a “wealth tax”.
Nevertheless, please explain to me how it is just to have a third party pay for the crimes of another? Why should we be paying for the derivatives, liar loans, credit default swaps of these mega financial institutions?
Why isn’t the government putting these mega financial institutions into receivership, bankruptcy or trying to liquidate them? Would we be better off if the government temporarily seized them and brought in a new crowd of “experts” to start afresh? If there was a stockbroker or investment firm committing fraud on its customers, the SEC would not waste any time getting an injunction and taking the business over.
This malfeasance or misconduct will continue as long as the public allows it. If we want to stop it we need to stop playing their game. Did your bank gamble with derivatives? Did they have liar loans? Or were they engaged in credit default swaps? If you don’t know, then you need to do your homework and find out.
There’s a legal concept called ratification. Check it out. Ask yourself:
- Does my bank receive funds from the Federal Reserve based upon their customers deposits and savings?
- Do they use my money to get money from the Federal Reserve under our fractional banking system?
- If so, then why am I indirectly endorsing or ratifying their conduct by keeping your financial assets there?
- Shouldn’t I find a bank that did not have any connection to the 2008 financial fiasco or “mismanagement”?
There are credit unions and banks that have “clean hands” about the 2008 Wall Street mess. Why don’t you find them and support their business ethics by removing your checking and savings accounts from those who have “dirty hands”? If we vote with our dollars those who acted inappropriately will feel the pinch and hear our voices.
Think about it!–No Name Attorney
P.S. This is part of Michael’s series of covering the Bankster heist from bank accounts. Michael has a B.S. in Commerce from the University of Virginia, a law degree (J.D.) and a Masters of Law in Taxation (LL.M.) from the University of Florida School of Law. He has agreed to contribute his work to this website. Michael’s research probes and sharpens one’s analysis (iron sharpens iron).
After The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It EVERYWHERE
By Michael, on March 17th, 2013
Cyprus is a beta test. The banksters are trying to commit bank robbery in broad daylight, and they are eager to see if the rest of the world will let them get away with it. Cyprus was probably chosen because it is very small (therefore nobody will care too much about it) and because there is a lot of foreign (i.e. Russian) money parked there. The IMF and the EU could have easily bailed out Cyprus without any trouble whatsoever, but they purposely decided not to do that. Instead, they decided that this would be a great time to test the idea of a “wealth tax”. The government of Cyprus was given two options by the IMF and the EU – either they could confiscate money from private bank accounts or they could leave the eurozone. Apparently this was presented as a “take it or leave it” proposition, and many are using the world “blackmail” to describe what has happened. Sadly, this decision is going to set a very ominous precedent for the future and it is going to have ripple effects far beyond Cyprus. After the banksters steal money from bank accounts in Cyprus they will start doing it everywhere. If this “bank robbery” goes well, it will only be a matter of time before depositors in nations such as Greece, Italy, Spain and Portugal are asked to take “haircuts” as well. And what will happen one day when the U.S. financial system collapses? Will U.S. bank accounts also be hit with a “one time” wealth tax? That is very frightening to think about.
Cyprus is a very small nation, so it is not the amount of money involved that is such a big deal. Rather, the reason why this is all so troubling is that this “wealth tax” is shattering confidence in the European banking system. Never before have the banksters come directly after bank accounts.
If everything goes according to plan, every bank account in Cyprus will be hit with a “one time fee” this week. Accounts with less than 100,000 euros will be hit with a 6.75% tax, and accounts with more than 100,000 euros will be hit with a 9.9% tax.
How would you feel if something like this happened where you live?
How would you feel if the banksters suddenly demanded that you hand over 10 percent of all the money that you had in the bank?
And why would anyone want to still put money into the bank in nations such as Greece, Italy, Spain or Portugal after all of this?
One writer for Forbes has called this “probably the single most inexplicably irresponsible decision in banking supervision in the advanced world since the 1930s.” And I would agree with that statement. I certainly did not expect to see anything like this in Europe. This is going to cause people to pull money out of banks all over the continent. If I was living in Europe (and especially if I was living in one of the more financially-troubled countries) that is exactly what I would be doing.
The bank runs that we witnessed in Cyprus over the weekend may just be a preview of what is coming. When this “wealth tax” was announced, it triggered a run on the ATMs and many of them ran out of cash very rapidly. A bank holiday was declared for Monday, and all electronic transfers of money were banned.