New EU Plan Will Make Every Bank Account In Europe Vulnerable To Cyprus-Style Wealth Confiscation

They want their money back, you have only thought it was your money. That you worked and saved for yourself.

On Thursday, EU finance ministers agreed to a shocking new plan that will make every bank account in Europe vulnerable to Cyprus-style bail-ins.  In other words, the wealth confiscation that we just witnessed in Cyprus will now be used as a template for future bank failures all over Europe.  That means that if you have a bank account in Europe, you could wake up some morning and every penny in that account over 100,000 euros could be gone.  That is exactly what happened in Cyprus, and now EU officials plan to do the same thing all over Europe.

For quite a while EU officials insisted that Cyprus was a “special case”, but now we see that was a lie.  International outrage over what happened in Cyprus has died down, and now they are pushing forward with what they probably had planned all along.  But why have they chosen this specific moment to implement such a plan?  Are they anticipating that we will see a wave of bank failures soon?  Do they know something that they aren’t telling us?

Amazingly, this announcement received very little notice in the international media.  The fact that bank account confiscation will now be a permanent part of the plan to bail out troubled banks in Europe should have made headline news all over the globe.  The following is how CNN described the plan…

European Union finance ministers approved a plan Thursday for dealing with future bank bailouts, forcing bondholders and shareholders to take the hit for bank rescues ahead of taxpayers.

The new framework requires bondholders, shareholders and large depositors with over 100,000 euros to be first to suffer losses when banks fail. Depositors with less than 100,000 euros will be protected. Taxpayer funds would be used only as a last resort.

According to this new plan, bondholders will be the first to be required to “contribute” when a bank bailout is necessary. Think GM and how that worked.

The Global Elite Are Very Clearly Telling Us That They Plan To Raid Our Bank Accounts

Don’t be surprised when the global elite confiscate money from your bank account one day.  They are already very clearly telling you that they are going to do it.

Dutch Finance Minister Jeroen Dijsselbloem is the president of the Eurogroup – an organization of eurozone finance ministers that was instrumental in putting together the Cyprus “deal” – and he has said publicly that what has just happened in Cyprus will serve as a blueprint for future bank bailouts.  What that means is that when the chips are down, they are going to come after YOUR money.

So why should anyone put a large amount of money in the bank at this point?  Perhaps you can make one or two percent on your money if you shop around for a really good deal, but there is also a chance that 40 percent (or more) of your money will be confiscated if the bank fails.  And considering the fact that there are vast numbers of banks all over the United States and Europe that are teetering on the verge of insolvency, why would anyone want to take such a risk?  What the global elite have done is that they have messed around with the fundamental trust that people have in the banking system.  In order for any financial system to work, people must have faith in the safety and security of that financial system.

People put their money in the bank because they think that it will be safe there.  If you take away that feeling of safety, you jeopardize the entire system.

Read the rest here ….

And Now New Zealand: National Planning Cyprus-style Solution For New Zealand

And now the siezure fervor moves on … Keep the bank afloat!!! The rally cry…. after government forces loans to those who can’t repay. It’s all there money afterall, just look at who owns the dollar bill in your posket.

The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts, the Green Party said today.

Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.

“Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand – a solution that will see small depositors lose some of their savings to fund big bank bailouts,” said Green Party Co-leader Dr Russel Norman.

“The Reserve Bank is in the final stages of implementing a system of managing bank failure called Open Bank Resolution. The scheme will put all bank depositors on the hook for bailing out their bank.

“Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.

“While the details are still to be finalised, nearly all depositors will see their savings reduced by the same proportions.

“Bill English is wrong to assume everyday people are able to judge the soundness of their bank. Not even sophisticated investors like Merrill Lynch saw the global financial crisis coming.

“If he insists on pushing through this unfair scheme, small depositors can be protected ahead of time with a notified savings threshold below which their savings will be safe from any interference.”

Dr Norman questioned the Government’s insistence on pursuing Open Bank Resolution when virtually no other OECD country uses it.

“Open Bank Resolution is unprecedented in the world. Most OECD countries run deposit insurance schemes which protect people’s deposits up to a maximum ranging from $100,000 – $250,000,” Dr Norman said.

“OBR is not in line with Australia, which protects bank deposits up to $250,000.

Read more here …

Gutfeld: Gun rights keep Cyprus bank taxation bailout plan from happening in US

Hmm hadn’t thought of it this way … calmer heads prevail?

The Daily Caller writes:

On Monday’s edition of Fox News Channel’s “The Five,” co-host Greg Gutfeld said the Cyprus bailout plan, which would result in the confiscatory taxation of deposits in banks at varying rates, is only a possibility because the country lacks a strong gun culture.

“So, Cyprus is mulling a plan to tax bank deposits in their country,” Gutfeld said. “The breakdown: Below €100,000 will be taxed at 6.7 percent; above €100,000, taxed at 9.9 percent; above €500,000, you’re taxed at 15 percent. This wholesale robbery has caused the citizen to rush to get their money out. The response: The banks close. So, how can a government assume it can get away with this? Because they assume they can get away with it.”

Gutfeld, author of “The Joy of Hate: How to Triumph over Whiners in the Age of Phony Outrage,” said it would be hard to imagine a similar scenario taking place in the United States.

“While Cypriots can own guns, it’s a bear to get them,” Gutfeld said. “There is no gun culture there, which then allows the government to wonder of its docile populace, ‘What are they going to do, shoot us?’ Well, in America — “yes, we will shoot you.”

“Cyprus just proved that Joe Biden’s notion of ‘all you need is a shotgun’ is deeply flawed,” Gutfeld continued. “Sadly, though, the ‘steal from the rich’ mentality is alive and well in America. Remember Occupy Wall Street? How different is the Cyprus solution from the class warfare rhetoric that demands your wealth is spread around?”

Read more with video:

Hah, We Got Those Non-Union Types Good.

Non-union pensioners got screwed. By the Obama Admin.

20,000 Delphi employees lost 70% of their pensions, so the unions could get theirs. So you thought Obama told the truth? Obama meant everybody who was in the unions.

So much for testifying before Congress meaning anything.

The non-union workers got screwed. Their pension plans were terminated. Can we get you some food stamps?

It has been readily apparent all along that the GM bailout was a bailout for their union cronies. Every step of the way, even in bankruptcy, the unions were given consideration they were not entitled to, ie. Placing union interests before secured creditors.

And how about them creditors, bond holders? Is it any wonder that the federal government still has $42 Billion of GM debt as the company goes through slow motion failure?

Jarrett ignores questions on terminated non-union Delphi pensions [VIDEO]

I wouldn’t want to answer either.

Personally I will never buy GM Cars again, I did buy Chrysler this time.

Media Fail: Chevy Volt Makes NO Money, Costs Taxpayers Hundreds of Thousands of Dollars Per Car

Hmm, so tell me, which investment has Obama made, with taxpayer money that has returned actual money to the taxpayets?

We know there are none of the green energy crap companies whihc did nothing but payback contributors and then go bankrupt. Now we find the turth of GM and the waste of money Volt.

The Jurassic Press is missing much in their reporting on the $50 billion bailout of General Motors (GM).  The Press is open channeling for President Barack Obama – allowing him to frame the bailout exactly as he wishes in the 2012 Presidential election.

GM the union health care company that also builds cars.

The President is running in large part on the bailout’s $30+ billion loss, uber-failed “success.”  And the Press is acting as his stenographers.  An epitome of this bailout nightmare mess is the electric absurdity that is the Chevrolet Volt.  The Press is at every turn covering up – rather than covering – the serial failures of President Obama’s signature vehicle.

The Press has failed to mention at least five Volt fires, myopically focusing on the one the Obama Administration hand-selected for attention.

The Press has failed to mention that the Volt fire problem remains unsolved.  Is it the battery?  Is it the charging station?  Is it the charging cable?  All of the above?

GM and the Administration don’t know.  And the Press ain’t breaking their necks trying to find out.

When do you think we will find out the whole truth?

Now Italy

Italy is calling a bank Holiday? I’ll have another … Nothing to do with the run on the Italian banks, just need a spontaneous bank holidays. I seem to recall bank holiday’s in the USA, let me think. Oh tes it wa under FDR and the Great Depression.

I wonder if they are the same.

Spain is fixed, RIGHT? Now Italy is broke? hmm maybe the socialist cart is broke, the wheels are falling off right now, but what’s next. There will always be another shoe when you talk about socialism …

Bailouts, good money after bad, that never ends with a good outcome.

When Pubic Workers Aren’t Satisfied: Spain Could Ask For Bank Bailout This Weekend

Some press reports say Spain needs and will get a bailout … So it’s coming.

The end result of all these pending European State bankruptcies, that’s the fallout from years of European Socialism, fed mostly by the same mechanisms that are eating at the USA. The free ride at the expense of others must end, and end it is, with a crash.

It’s couched as “bank failure, just like in the USA it was mortgage failure. But in both cases the failure is easy to explain, it was government failure. Government promising money to those who could not repay, be they mortgages or loans for other purposes. The balloon had gotten to big to handle. POP!

Neither European Socialism, nor Obama’s brand of it, works. Reason it out for yourself. Try and figure out if you think Obama’s “candy man in the van” style of government will work? Why do you think the food stamp roles in America has ballooned to unsustainable levels.

But, the Teleprompter run Obama hopes you don’t notice what is really going on … as Margret Thatcher once said about socialism …

“The trouble with socialism is eventually you run out of other people’s money.”

Spain is tapped out. Say wasn’t Spain the “green jobs savior” of Europe.

Flip-Flop Injun: Warren’s U-Turn

Democratic Massachusetts Senate candidate Elizabeth Warren appears to have changed her position on President Obama’s 2009 auto bailout, records show, and experts believe national Democrats are to blame.

Warren strongly supported the auto bailout in Obama’s re-election campaign film The Road We’ve Traveled, saying that “blood” would have been on the president’s hands had he not bailed out auto manufacturers GM and Chrysler.

But Warren previously suggested that bankruptcy of auto manufacturers would not matter and that the auto bailout would be a bad idea.

Warren said that companies should build cars people want during a December 2008 roundtable discussion with newly elected members of Congress at the Harvard University Institute of Politics.

Does she drive a Volt? Why not?

“Spending money to prop up markets, at least in my view, is a losers game,” Warren said.

Government cannot be the “softest chump” when it comes to lending money, Warren said. She also criticized the ideas behind Obama’s stimulus package, saying that stimulus in the form of cash to people is mostly spent to pay off debt and not create jobs.

“Warren, as a smart politician, probably knew that the path of least resistance was for her to change her tune,” said elections expert Jay Cost.

“In all likelihood, this is what happened: the pro-bailout position is what the Dem establishment has indicated it supports; Warren wants to tap into its money and resources, so she flipped with little to no arm-twisting,” Cost said.

A February 2012 Gallup poll showed that 63 percent of Democrats continue to support the auto bailout, while only 44 percent of registered voters approve.

Notice what Democrats do when they get in heap big trouble, they lie. She will change back, right after the election. And as long as voters put up with this crap, this is what they get, and deserve.

The UAW received an ownership stake in Chrysler and became one of General Motors’ largest shareholders as a result of the auto bailout.

Obama’s bailout of Detroit automakers GM and Chrysler cost taxpayers $81.8 billion in addition to “many other costs,” according to the Wall Street Journal. And we get the Volt.

Greece, Man Down

What happens when you let liberals run your country?

Last Sunday in the Greek election, the two main parties saw their support collapse, with seats going to a wide variety of parties, many of whom are opposed to the bailouts and even Eurozone membership. The Commies and Nazis were the big election winners.

Since that day, the parties have desperately tried to form a coalition government, but they have been unable to cobble together a combination.

A failure to form a government would mean brand new elections next month. It looks like that’s going to happen.

The latest headlines from Greece suggest that the various parties still can’t come up with anything and that there will be elections in June… probably June 17.

This sets up Greece for the mother of all games of chicken, as it’s likely that the anti-bailout, left-wing SYRIZAT party will be the big winner. They say they’ll refuse to go along with the current austerity position, leaving the rest of the Eurozone in a bind whereby they either renegotiate, or let a member (perhaps) leave the currency, opening up a box of worms.

Yesterday, there was a glimmer of hope that this outcome could be avoided, and the Athens stock market soared. Today it’s getting hammered again, losing 3%.