42 votes

The Fat Lady has Started to Sing - in Cyprus

This story in Cyprus is much bigger than most people realize. This just might be the beginning of the end of world government having any credibility at all.

Progressives live by the saying, "Never let a crisis go to waste." Well, defenders of liberty can play that game, too. This Cyprus story is not being told in the American Propaganda Media for a reason -- because it would wake people up to the reality of the nature of government.

But we can take advantage of this by promoting liberty. There are already cracks in the status quo. Rand Paul's filibuster, talk radio talking heads bashing the GOP leadership, and states fighting back with legislation to put a stop to progressive tyranny.

And now, Cyprus.

First off, everyone should understand what has happened there, and why it makes NO DIFFERENCE whether or not they go through with it. Cyprus is part of the EU, and all EU banks have "depositor insurance" similar to the FDIC in the USA. Depositor insurance is SUPPOSED to protect depositors' money in the event of bank defaults (if the bank itself becomes insolvent due to poor management, the depositors are supposed to be made whole on their bank accounts, even if investors and creditors of the bank go bust).

In Cyprus, all bank accounts are "officially" protected up to 100,000 Euros on deposit (about US$130,000). The Cyprus government knows that two of its largest banks are on the verge of insolvency, so they went to the Eurozone "government" for a bailout, just as Greece, Spain, Ireland, etc. had done before.

But this time, the Eurozone approved a bailout on the condition that the Cyprus government must STEAL some of the people's bank deposits. In other words, they IGNORED the depositor insurance protection of 100,000 Euros.

The WHOLE POINT of depositor insurance is that people will not put money into a bank if they think their money is not safe. Rather than let the free market regulate this financial function, the governments around the world say they will do it. But they lie. No government has the money to protect ALL deposits. They rely on people being confident in banks.

Bernanke often refers to "confidence" as a primary factor in the financial markets. Without confidence, people will take actions to protect their assets.

Now that the EU "government" has taken the most draconian step any government can in the financial realm -- the outright theft of people's assets (freezing all bank accounts until the funds are paid to the government) -- people have NO MORE REASON to have any confidence in banks.

They won't have confidence in Cyprus banks, or in weak European banks. They will then start thinking about ALL banks worldwide and there will be a mass exodus out of Europe and into other places in the world. While some of that money might go to the US at first, those who know what they are doing are more likely to send their money to Asian banks, where it really can be safe (relative to the corrupt governments elsewhere in the world).

What we in the liberty movement can do is to make sure people know what is going on in Cyprus and that it was a European Union decision, not "just some little island country over there." This was a decision reached by the EU and the IMF. You can bet the Federal Reserve will have influence in this, and that the US will become part of the "bailout" on some level.

This will lead to a flight of capital out of European banks and that will lead to the next economic crisis. We must make sure people understand it was the POLITICIANS who did this. It is not the "evil bankers" because they could not get bailouts without the evil politicians.

There is already an undercurrent going on where people are starting to wake up to the idea that "something is not right" in the world and that government/politics/media is not quite what it seems.

We need to continue educating them that EVIL POLITICIANS are the ones who cause all these problems -- and in the end they WILL steal your money outright to solve the problems they have created.

Here is a good article on the implications of the Cyprus deal (and it does not matter at this point whether the Cyprus legislature puts a stop to it or not, because the Fat Lady has already started singing that first note now that the EU politicians have revealed themselves for the dirty sociopaths that they really are):

http://www.businessinsider.com/cyprus-bailout-risks-europe-b...




Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

What do you want to bet that

What do you want to bet that 29% of Cypriots have no money sitting in the banks!

Yes, there will be a flight

Yes, there will be a flight of capital. This will be a godsend for banks in Hong Kong, Singapore and Switzerland. And a catastrophe for the European capitals. Just what Europe needed. Hopefully, there will be a currency crash, followed by a return to sanity and sound money.

Please visit my site for more information about my libertarian book. Thanks!

Exactly right ...

... and those are 3 of the safest banking jurisdictions in the world today.

They will be the big beneficiaries -- and they should be.

Bump for that glass

Bump for that glass shattering high falsetto note being hit soon...

-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

Russians

Saw a clip that lots of Russians have money there

They are going to freak lol

donvino

SteveMT's picture

Here is a live link from Cyprus; It's in Greek.

For those that understand the language, let the rest of us know what's happening.
Live Streaming Of Cyprus Mega TV
http://www.zerohedge.com/news/2013-03-17/live-streaming-cypr...
http://www.livenews.com.cy/cgibin/hweb?-A=5&-V=livestreaming

ecorob's picture

Excellent insight!

Also, a preview of things to come.

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

Next step

people head to the streets. IMO

Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.

....do you mean

unarmed subjects pour into the street where they will be beat down by the gangster's thugs?

ecorob's picture

Don't look for it on the...

6 o'clock blues (lame street news), though.

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

No Kidding there.

I did not see the lame stream media report on the Brooklyn riots either. I had to learn about it here on the DP.

Yes, the politicians are

Yes, the politicians are evil, but you can't excuse the evil bankers. They OWN this nation and our government!

Yes ... and No ...

... when we talk about "bankers" we could be talking about two different sets of people.

The word "banker" to most people means your average bank teller or loan officer or bank president down the street. These are not the people who make the big decisions. They are part of a system that they do not fully understand. They are running a business that, to them, is no different from running any other kind of business.

But the "evil bankers" are the ones who make the real decisions. These guys are running the Federal Reserve and the banks and investment banks that are closely tied to that entity -- specifically, JP Morgan Chase, Bank of America, Wells Fargo, Citibank, Mellon Bank, Goldman Sachs, and a few others. The executives and directors of these entities are the ones making the big decisions to get the government to make them rich.

In addition, there are the behind-the-scenes people who are not specifically in the banking business (David Rockefeller is or was CEO/Chairman of Chase Manhattan, but he is getting too old to do much these days, Henry Kissinger is part of the cabal, as is Maurice Strong and others). These guys are not necessarily "bankers" but they are part of the "evil bankers" who make the big decisions.

They do it both directly by bribing and threatening politicians, as well as indirectly by pushing agendas through entities like the Council on Foreign Relations, and more generally by running the "network" where people get brought into the system who are corrupt or can become corrupt and who genuinely believe they are doing something good (such as Herman Cain, Condolezza Rice, Tom Brokaw, etc.).

It is all these behind-the-scenes people, in conjunction with the "evil bankers" (but not necessarily the "bankers") who make these decisions that are ultimately designed to give them power and riches.

But ...

NONE of their evil ideas could be implemented without the evil politicians actually putting forth the laws to abuse the rights of the people (and, of course, the people themselves are complicit to the extent they do not educate themselves about it in a world that is structured to keep them from becoming educated).

Imagine the evil bankers going to the legislature for a bailout where all the legislators are Ron Paul clones. How far would they get?

Nowhere is how far they would get. The evil bankers and their cronies know this, which is why they have their network in place to promote corrupt/corruptible politicians in the first place.

The evil bankers push the politicians to do it, but it is the evil politicians who actually DO it.