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Breaking News Home | All | Religion | Society | Tech | Choice | Fridays | SA Newsroom
FRONT PAGE  |  12/17/2017
TUESDAY, MAR 19, 2013  |  13 comments
Panic Grips Europe as Cyprus, EU, and IMF Confiscate Savings

Panic-stricken bank depositors in Cyprus emptied ATM machines across the nation after the surprise announcement Saturday that, as part of an extremely controversial European Union and International Monetary Fund bailout deal, authorities would seize up to 15 percent of all savings deposited in Cypriot banks. Markets across Europe plunged as fears of contagion or even a large-scale bank run in the region plagued investors, with the single euro currency falling to multi-month lows and gold rising back above $1,600 following news of the $13 billion scheme.

Critics ranging from banks and market analysts to politicians and even establishment media outlets lambasted the EU and IMF plan, saying it creates uncertainty and amounts to brazen wealth confiscation. Citizens and foreigners with money deposited in Cyprus, meanwhile, expressed outrage over the controversial scheme as well, demanding that it be ...


CLICK HERE to Read Entire Article
www.thenewamerican.com

Response to economic crisis?
  START  
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· Page 1 ·  Found: 13 user comment(s)
News Item3/24/13 11:06 AM
jpw  Find all comments by jpw
good point, Neil and others.
13

News Item3/23/13 9:22 PM
Neil | Tucson  Find all comments by Neil
Of course folks get upset with taxation of bank accounts. But who gets as upset when their assets are slowly devalued over years of inflationary monetary policy driven by deficit spending? It's still theft, either way. At least the Cypriot version is plainly seen.

How far the dollar has fallen in purchasing power over my lifetime:
1963 Corvette: ~$4K (pre Vietnam, Great Society)
2013 Corvette: ~$49K
Now such comparisons aren't foolproof, e.g. changes in manufacturing efficiencies & product content.

12

News Item3/20/13 2:36 PM
Jim Lincoln | Nebraska  Find all comments by Jim Lincoln
I doubt this is the end of Britain, but it is interesting the games they are playing in the European Union. Cyprus banks shut until Tuesday amid scramble for Plan B.

God already has a plan for The Future Western World Government.

11

News Item3/19/13 6:24 PM
Watchman  Find all comments by Watchman
Cliff Leckey wrote:
Would anyone run their household budget the way these criminals & crooks run a Nation`s economy?
& then want the poorest to bale out the banks?
You couldn`t write a script like that if you tried.
That's right Cliff.

In fact even now, if the British found out quite how bad the situation is there would be a mad panic and I am sure that heads would roll- literally!

To know more, please watch:

The end of Britain

Please ignore the advert for the magazine towards the end and just watch the video through to the end.

The figures they cite are all verifiable.

The scale of the problem is truly staggering!

10

News Item3/19/13 6:09 PM
Cliff Leckey | N. Ireland  Find all comments by Cliff Leckey
Would anyone run their household budget the way these criminals & crooks run a Nation`s economy?
& then want the poorest to bale out the banks?
You couldn`t write a script like that if you tried.
9

News Item3/19/13 3:37 PM
Christopher000 | Rhode Island  Find all comments by Christopher000
I would have never voted for Mr Obama because of what he supports, not because I am a racist. : /
Anyway, with the deficit being where it is, and double by the time Mr Obama bids a fond farewell, I have a feeling that
our childrens, childrens, children will still be paying for what these administrations have accomplished.
8

News Item3/19/13 1:53 PM
Costello  Find all comments by Costello
The poster formerly known as Russ wrote:
Take a good look at the future of America my friends. It's only a matter of time.
We all have to pay our debts. Since we voted our successive governments in, we need to take collective responsibility for our actions.

Better that we pay our way, than our children pay for us.

7

News Item3/19/13 1:47 PM
The poster formerly known as Russ | Texas  Find all comments by The poster formerly known as Russ
Take a good look at the future of America my friends. It's only a matter of time.
6

News Item3/19/13 12:53 PM
Rufus | Fort Worth, TX  Protected NameFind all comments by Rufus
Kyle wrote:
I heard it mentioned by Stuart Crane in the follow on lectures to "Wheat Receipts". That's a fantastic lecture that everyone should listen to. Google it.
I had not heard of Stuart Crane previous to your post. Downloaded the lecture and went for a walk. I still have some to go but what I've heard thus far is exceptional. The recording I downloaded was pretty poor especially at the beginning. Did I gather correctly this lecture was given at BJU? What do you know about Dr. Crane's religion?
5

News Item3/19/13 11:47 AM
Kyle | Tucson  Find all comments by Kyle
I heard it mentioned by Stuart Crane in the follow on lectures to "Wheat Receipts". That's a fantastic lecture that everyone should listen to. Google it.
4

News Item3/19/13 11:07 AM
Rufus | Fort Worth, TX  Protected NameFind all comments by Rufus
Kyle wrote:
Good book
One of the best. Ought to be read by all.
3

News Item3/19/13 10:45 AM
Kyle | Tucson  Find all comments by Kyle
Rufus wrote:
“But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.”
? Frédéric Bastiat, The Law
Good book
2

News Item3/19/13 8:31 AM
Rufus | Fort Worth, TX  Protected NameFind all comments by Rufus
“But how is this legal plunder to be identified? Quite simply. See if the law takes from some persons what belongs to them and gives it to other persons to whom it does not belong. See if the law benefits one citizen at the expense of another by doing what the citizen himself cannot do without committing a crime.”
? Frédéric Bastiat, The Law
1
There are a total of 13 user comments displayed | add new comment |Subscribe to these comments
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