Meanwhile, pray that what is happening in Cyprus this weekend is not precedent setting for other nations
EU theft of private bank accounts a “sacrifice” to mainstream media
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The mainstream media downplaying of what is happening in the Mediterranean Island of Cyprus this weekend is already muddying the water.
Tens of thousands of unwitting little people have had their bank accounts ripped off over the long weekend by their own government, in a fashion where their ripped off funds were already a fait accompli before word began to leak out over social media.
Media downplaying notwithstanding, the unvarnished truth about what is happening in Cyprus is both precedent setting and staggering in dimension.
Yet mainstream media reports are already describing the robbery of ordinary depositor’s money as a “one-off levy”, and writing “the first time a deal has called for savers to sacrifice some of their cash holdings”.
As the Brits, who have already come to the rescue of their military personnel and ex-patriots would say: “Bollocks!”
The European Union is run by mainly socialist politicians whose agenda is based on the redistribution of assets and goods. America, on which so many other countries in the world are dependent, is now under the clutches of a Marxist president following the same playbook.
Outgoing President Demetris Christofias of Cyprus is a Communist. They say Christofias was the “only” Communist in the EU, but how far away from Communism is Socialism?
An indication about how the EU socialists feel about communists? Under the EU’s rotating chairmanship, Christofias, the communist, chaired EU meetings from July 1st until the end of 2012.
Describing the 9.9% levy on savings over C100,000 and a 6.75% levy on savings below C100,000 as a “one-off levy” would be akin to a caught-in-the-act bank robber saying he was only planning to rob the bank once. Stealing money from savers then describing it as sacrificing some of their cash holdings, is an outrage.
The governments of our day never sacrifice, many getting rich while serving public office.
The story of the Cyprus levy on savings is further clouded by media chatter about the Russian banks’ cross-board loans to Cypriot-based Russian companies which totaled $30-40 bn at the end of 2012, or equal to 15-20 per cent of Russian banks’ capital base in Russia, and 5-6 per cent of their gross corporate loans.
Ordinary bank depositors should not lose out no matter how many cross-board loans to Cypriot-based Russian companies exist.
Nor are big banks in bed with big government politicians an anomaly peculiar to the beleaguered Island of Cyprus.
The hypocrisy of socialists in bed with big banks is jaw-dropping.
Two days before Cyprus depositors were relieved of their cash, the Deutsche Bank’s global head of FX strategy, Bilaf Hafeez gave a speech indicating the euro area needs a role model that people across Europe can respect.
“I can only think of one figure that is respected by most Europeans and has never sinned, Jesus!” Hafeez said. (Business Insider, March 14, 2013)
Incredible to note that the Deutsche Bank’s research department transcribed Hafeez’s speech and sent it out to clients in a note.
The EU threw the image of the Savior over at their formation 14 years ago, replacing His image with that of Europa, Woman on a Bull, whose image is permanently parked in front of the EU Parliamentary Building in Strasbourg with a corresponding statue in front of the EU Commission Building in Brussels.
Meanwhile, pray that what is happening in Cyprus this weekend is not precedent setting for other nations. If this blatant EU rip-off of its own people is allowed to stand, unscrupulous socialist politicians in office will set policy that forces their populations to sacrifice some of their cash holdings to greedy governments the world over.