cyprus taxing bank accounts 10%

[bUU]

I just wonder what you'll do if they ever threaten to have an excise tax on converting precious metals to currency.

Something related to note: To the extent one chooses to exit the economy (in whatever way and for whatever reason) do keep in mind that the path back into the economy may or may not be open, and even if it is, there might be a cost.

[jpg7n16]

I don't get why this is such a shock.

Europe has been struggling financially now for a while. It's a small country with only like 1.1 million people. Of all the countries that would go under, it'd probably be them.

Why is that such a shock?


We have 9 cities each with more people than the whole country of Cyprus. And our GDP is over 600 times larger. But population only 313 times larger. (In other words, twice the per capita GDP) I think we're good.

http://www.infoplease.com/ipa/A0763098.html

GDP USA: $15.09 Trillion ($15,090 Billion)

http://www.google.com/#hl=en&safe=active&sclient=psy-ab&q=GDP+US&oq=GDP+US&gs_l=hp.3..0l4.718.2211.0.2528.6.6.0.0.0.0.258.804.2j3j1.6.0...0.0...1c.1.7.psy-ab.2zLEvYCqE2E&pbx=1&bav=on.2,or.r_qf.&bvm=bv.44158598,d.b2I&fp=ac59688375ef158a&biw=1280&bih=941

GDP Cyprus: $24.69 Billion

http://www.google.com/#hl=en&safe=active&sclient=psy-ab&q=gdp+cyprus&oq=GDP+Cypr&gs_l=hp.3.0.0l2j0i22i30l2.9875.13581.1.14423.8.6.1.1.1.1.166.574.5j1.6.0...0.0...1c.1.7.psy-ab.rVET6V0U_tU&pbx=1&bav=on.2,or.r_qf.&bvm=bv.44158598,d.b2I&fp=ac59688375ef158a&biw=1280&bih=941

15090/24.69 = 611.18x larger



Though if you want to continue the crazed belief that what affects a small island off the coast of Greece will somehow change how the largest superpower and economy in the world will treat you, knock yourself out.



I just wonder what you'll do if they ever threaten to have an excise tax on converting precious metals to currency. Or enact a special tax on real estate.

[97guns]

you guys really need to open your eyes and see whats going on before its too late, for those that dont trust rogue journalism here is one straight from the front page of yahoo, right where you feel comfortable, enjoy.

http://finance.yahoo.com/blogs/daily-ticker/cyprus-still-crisis-monday-deadline-approaches-141227303.html

[bUU]

That's ridiculous. There is a difference between not gaining interest and having principal reduced. As a matter of fact, ZIRP is two quantum shifts away from a "wealth tax". First: It would have to change from something where you simply have the same amount of money, into something where you actually have less money - Quantum Shift 1. Then it would need to change from something where income is being partially directed away into something where wealth is being partially directed away - Quantum Shift 2.

[dunnrobert700]

Probably because the entire GDP of Cyprus is the same as Shreveport LA, it's not a lot of money and it's a fairly special case because Germany doesn't want to use German tax dollars to bail out a bunch of Russian tax dodging business magnates (or "Oligarchs" as they like to call them).

The only freakout is the very idea that the EU central bank might impose this condition on any member nation as a condition. Makes people question banks, especially if people under 100K get hit at all as they were supposedly insured.

Really it's just a question of form. If you think ZIRP in the US isn't a wealth tax you're not looking at it right. It's just slower and less overt, but the same effect.

[humandraydel]

March 20th, 2013 - BERNANKE STATES CYPRUS STYLE DEPOSITOR HAIRCUTS POSSIBLE IN US IF EVENTS IN EUROPE BECOME CONTAGIOUS!

I stopped at this. Honestly, posting garbage like this is why no one responds. Even IF it WAS a possibility, do you actually think Bernanke would make this statement? There is absolutely 0% chance Bernanke would ever make this statement even if he thought it true.

The internet - synonym for "propaganda"

[97guns]

not trying to get nothing, just wondering why there was no mention of it here and other mainstream avenues, maybe i am trying to get people to yank it out

[Mr Nice Guy]

Are you trying to drive up demand for silver or something?

[Mr Nice Guy]

The sky is falling, the sky is falling....

[97guns]

thanks for that, im not totally up to speed and missed the vote. if my assets were not protected from all this garbage i would be much more in tune with it, the way it sits, my portfolio is totally immune to any banking crisis.






WILL THE ECB CHANGE ITS MIND ABOUT PROTECTING INSURED DEPOSITS, IN TIME?


March 20th, 2013 - BERNANKE STATES CYPRUS STYLE DEPOSITOR HAIRCUTS POSSIBLE IN US IF EVENTS IN EUROPE BECOME CONTAGIOUS!

March 20th, 2013 - Germany Warns That Banks in Cyprus May Never Reopen

March 20th, 2013 - Cyprus Banks To Reopen Next Tuesday At Earliest As Capital Controls Become Reality

March 20th, 2013 - ECB Re-Bluffs To Cyprus Bluff, Is “Prepared To Let Cyprus Go”

March 20th, 2013 - FURY erupted yesterday as it emerged that rich Russians withdrew £2billion BEFORE a tax raid on bank savings in Cyprus was announced.

March 20th, 2013 - ECB May Cut Emergency Funding to Cyprus

March 20th, 2013 - Cyprus parliament rejects bank levy

March 20th, 2013 - Cyprus May Have to Leave the Eurozone

March 20th, 2013 - Cyprus Conservative Opposition Parliamentary Member Says “If No Solution Soon, Print Cyprus Pounds and Abandon the Euro”

March 20th, 2013 - Russian Company Offers to Bailout Cyprus in Exchange for Gas Exploration Rights, but Cyprus rejects offer.


March 19th, 2013 - Will The Banking Meltdown In Cyprus Be A “Lehman Brothers Moment” For All Of Europe?

March 19th, 2013 - Is Spain Preparing For Its Own Deposit “Levy”?

March 19th, 2013 - Now New Zealand plan Cyprus-style bank Confiscations

March 19th, 2013 - The No-Name European Committee That Made the $13 Billion Guarantee to Cypriot Banks

March 19th, 2013 - Europe’s Final Gambit: 20%-30% Haircut For Oligarchs To Force A Russian Bailout

March 19th, 2013 - German Bankers Generously Offer Cypriots Helping Hand If They Transfer Deposits

March 19th, 2013 - Could Cyprus Blow Up the Entire Banking System?

March 19th, 2013 - Cyprus – Germany’s Crisis

March 19th, 2013 - CEO: Cyprus Bank Account Looting Could Blow Up Europe

March 19th, 2013 - Ex-Chancellor Warns of Bank Runs Across Europe

March 19th, 2013 - t’s not a ‘haircut’ – it’s THEFT when governments loot your private bank accounts

March 19th, 2013 - Former Cyprus Central Bank Head Slams ‘Blackmailing’ European Leaders

March 19th, 2013 - Cyprus Finance Minister Resigns, President Refuses To Accept Resignation

March 19th, 2013 - Two Years Ago this Plan to Seize Bank Accounts was Proposed

March 19th, 2013 - Sinclair – Cyprus Disaster Is Much Bigger Than Being Reported

March 19th, 2013 - Cyprus: A Sign Of Things To Come


March 18th, 2013 - After The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It EVERYWHERE

[KTP]

they voted against taxing the bank accounts.

now the banks will fail and we have another lehman bro except in europe this time

should be good for gold though

[97guns]

why isnt anyone talking about this? banks are closed until next week, when they re-open everyones account will have a haircut. they are also considering nationalizing their retirement, that means confiscation by the govt and redistribute.

you said it cant happen here, to me, my 401K, pension, IRA......i am no longer fear mongering, the first domino has dropped