"Now that "bail-ins" have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again. In fact, Cyprus-style wealth confiscation is already starting to happen all around the world. As you will read about below, private pension funds were just raided by the government in Poland, and a "bail-in" is being organized for one of the largest banks in Italy. Unfortunately, this is just the beginning."
The precedent that was set in Cyprus is being used as a template for establishing bail-in procedures in New Zealand, Canada and all over Europe. It is only a matter of time before we see this exact same type of thing happen in the United States as well.The article lists examples of "Cyprus-style wealth confiscation" from Poland, Iceland, Europe, Italy, New Zealand and Canada.
Zerohedge.com
45 comments:
As I said the other day, people are just a crop to be harvested by TPTB. Even here.
Also?
FIRST, bitchez!
You didn't save that.
This is up Hillary's Alley.
For the common good.
After all, what difference, at this point, does it make?
Now that the NSA and the IRS are tools of The Party, this new and improved type of wealth confiscation should be an easy transition the US.
Haircut-style bailouts are okay. Don't lend to people who can't pay you back.
Deposit insurance is a moral hazard, not for banks so much as for creditors like depositors who become careless and go for the highest return.
Wealth confiscation is another matter. There's no rule of law suddenly, and everything breaks down.
You own only what you can afford to defend with lethal force, and there's not much point to the state.
The corrupt IRS isn't after confiscation so much as affecting the vote.
The government prints all the money it wants.
It would only have to confiscate money when inflation kicks in, to keep you from spending it too.
April, "It takes a village"
You didn't save that.
What difference, at this point, does that make?
The corrupt IRS isn't after confiscation so much as affecting the vote.
YET, rh, YET.
And note that the wealth transfer will be mostly taking from the broad middle to give to the top ten percent, with the lion's share of that going to the very top. Bank bailouts, anyone?
Spinelli-
Yes it does.
A village of teabaggers.
"A Republic, if you can keep it."
-----Ben Franklin
Riigggght......sorry Ben, we've gone waaaay past our "sell-by" date, "corporate fascism" is now the name of the game..
I Have Warned About the Government Coming After Our Juices. Government: They Will Always Find a Way to Have Enough Jars.
correction:
easy transition for the US.
When the government is gonna take your savings we just might find a good chunk of the left wisening up, but they are a dense group, and will probably just become broke leftists, which will just harden their leftism. Not learning from the past, is their defining characteristic.
I don't know. I think the left look at the political opposition as something to harvest first.
The left will leave the party loyal alone. Loyalty has its privileges.
I'm sure their will be an exemption for Congress, unions, etc. Eventually just a weekly transfer from your bank account to your congressman's. Sign up for his campaign now and get in on the ground floor.
"S&L Green is people!!"
The left know how to punish and bring the non-loyal to their knees.
teabaggers are just like German Jews.
So the Commies are gonna win after all. I'm gonna start a company that makes those drab military outfits they love so much. Epaulets for everyone. What's cool about those is that you can hide cigarettes and gum and stuff under there.
The radical left's psychotic desire to arrest political "terrorists": So it begins.
I bet if it came to a national referendum, that a majority would vote to take all the money away from anybody with more than $1 million and spread it around evenly. Free lattes for a week.
Barter. Use cash. Buy used items for cash. Sell used items for cash. Trade services with others. Don't get into debt that you don't have to. Save money in areas and ways that the government can't track. Keep just enough in the bank(s) to look legitimate. Don't spend more than your 'visible' means. Turn your 'paper' hypothetical money into hard assets that have real value or that you can use to trade for things you need. Stock up on anything that you really need...(food, tools, guns, ammo, TOILET PAPER)
I don't know what's a-comin' tomorrow
Maybe it's trouble and sorrow
But we'll travel the road
Sharing our load
Side by side
I say borrow as much as you can afford to make payments on. Have their money locked up - don't give them yours. Rates are low and can only go up. You will be paying back with cheaper dollars. If things fall apart for you, you just go bankrupt and lose stuff you borrowed against. Borrow against non-vital stuff you can afford to lose like income property, a small business, or original Rembrandts.
I would love to have a big pile of gold buried in my backyard, but it's too late now with the price so high, besides I need room to bury the fascists after the revolution.
You got that NSA toady? Write that shit down.
Right Bago. Borrow, but not more than you can repay. Rates are very low right now, which is why it is difficult to borrow. The lenders are being very selective because they need to and because they can. If you do borrow and go BK or default on the loan make it for things that you won't miss.....like your actual home or vehicle.
There are other hard assets besides gold that are valuable in a melt down situation. You can't eat gold. You can't brain a deer or bag a cow (sorry neighbors) with gold. Just sayin'
We will never have a car loan again. Why should we? We can buy a good used vehicle that is functional, easy to repair, less expensive to insure and register. Who cares if it is an older vehicle. We aren't obsessed with impressing the neighbors. So....while we could qualify for and buy a new pickup truck for $45K, we would rather buy used older truck for $6K cash. Put in a new motor, upgrade the brakes and transmission and get a new paint job. Pocket the rest of the money that you would have spent on car payments and insurance. When we take extended trips....we rent a car. Put those miles and wear and tear on somebody else's car :-)
Re: "besides I need room to bury the fascists after the revolution."
That Amount of Digging is Very Time and Labor Intensive.
Depending on Where You Live, There May Coyotes, Mountain Lions, Wolves or Alligators Located at a Reasonable Distance. Rent a U-Haul Truck and Then: Predator Buffet.
Borrow, but not more than you can repay.
And also not more than your 'visible' income can justify in payments. /wink
You have nothing to lose but your food chain.
I'm with you DBQ on the used vehicle. I can afford whatever I want, but my only vehicle is a Dodge Ram pickup that was 2 years used when I bought it. The way I look at it, it's used as soon as you drive it off the lot anyway, so why pay full price. I get them with low miles, and look to get one at a fancy car dealer. Rich people will buy a truck, get tired of it, and then trade it in for a luxury car. The luxury car dealer wants that damned rube wagon off their lot now. They will take what they can get, and thank you for driving it away today.
Ruling classes have always been driven to distraction by the notion that there are people out there with more money than they need, when they, the rulers, need it so badly themselves.
The Caesars and the Tudors (and the Bolsheviks) would declare such people traitors, kill or exile them, and take their stuff. So I guess we've made some progress.
I don't really think everyone should take on debt. You rarely can today without a personal guarantee that will cost you everything they can get their hands on, if you can't pay.
To expand my business I took on an enormous debt of $35K per month for 25 years. There is no way I can make that nut for long if my business isn't doing well. If the business fails, I lose everything, and will be completely broke.
Businesses fail all the time, and this one has had many big down periods over the years. I'm pretty scared right now, but not for me. More for the hundreds of people that depend on me, their families and their futures. Personally I'd be just fine broke. I don't need anything, but I don't have kids. I thought, if I didn't produce any myself, I wouldn't have to worry about them. I kind it blew it on that plan, without even noticing.
People think of me as a wealthy businessman, but I'm more broke than anyone. I owe more money than all the paychecks combined that I ever got in nearly forty years of working, and I can't even walk away from this job if I wanted to.
God blessed me with good people to work with, and I have great faith in their ability to make it work for us all. It's not up to me. I can't make it work. I can only take on the risk so that they can have a vehicle to show what they can do. So far they have been amazing, and that's why I trust them with everything.
It's too bad they have to surrender so much to the government, and then stand in line at the store with their hard earned money and watch others buy with tax dollars never earned, or watch on the news how the government threw away hundreds of millions on this stupid business or that crazy idea, and see rich fuckers walk away with pockets full of their hard earned taxes. It really pisses me off. Now they want to raid savings accounts. What a bunch of failures and crooks.
If they do this, how can violence be far behind?
After the Revolution My Favorite Television Show Will Be "Celebrity Severed Heads Roadshow." They Will Take Their Cameras Across the New America and Attempt to Authenticate Celebrity Severed Heads.
"I'm Sorry to Tell You, Sir, But -- Sadly -- This Is Not the Severed Head of Bruce Springsteen; It Most Likely is Just an Unfortunate Hobo."
Coming After the Commercial Break: Does Wanda from Dallas REALLY Have the Severed Head of Matt Damon? We'll Find Out...
Speaking of rich mother f'ers who walked away with our hard earned money...
How on earth can VA even consider voting for a crook like Terry McAuliff for governor?
I do not mean to change the subject...
@Bagoh
I can only take on the risk so that they can have a vehicle to show what they can do.
So many people don't understand this about business. The risk. That's why government bailouts are so devastating to authentic honest business. The left whine about "fairness", but they are the very purveyors of unfairness. Playing favorites with our hard earned money in pay-to-play schemes. It's madness.
Dang... guess it's time to start storing up "currency" in the form of 22LR rounds.
Or, to quote Rep. Keith Ellison:
“The bottom line is we’re not broke, there’s plenty of money, it’s just the government doesn’t have it.”
Mumps - Keith Ellison is down right creepy. Sadly, these communists lust for our savings and they think nothing of it.
Ellison's quote works both ways. He's right, were not broke, the government is. I wonder why.
AprilApple said...
This is up Hillary's Alley.
She can't be concerned about every little under-wealthed family in America.
The scariest thing about this is I bet only about 5 of every 100 Americans have heard about this Poland story. The MSM embargoes stories that show big govt in a bad light.
She can't be concerned about every little under-wealthed family in America.
When she's finished with us, we will all be under-wealthed.
Who is to blame, sayeth the media?
The wealthy.
Remember when every Polish leader died in a plane crash over Russia?
This has been bandied about for some time, so it's not a total surprise, but, eventually, they will go too far and there will be Hell to pay.
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