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After The Banksters Steal Money From Bank Accounts In Cyprus They Will Start Doing It EVERYWHERE

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If The Banksters Will Steal Money From Bank Accounts In Cyprus Then They Will Do It ANYWHERECyprus is a beta test.  The banksters are trying to commit bank robbery in broad daylight, and they are eager to see if the rest of the world will let them get away with it.  Cyprus was probably chosen because it is very small (therefore nobody will care too much about it) and because there is a lot of foreign (i.e. Russian) money parked there.  The IMF and the EU could have easily bailed out Cyprus without any trouble whatsoever, but they purposely decided not to do that.  Instead, they decided that this would be a great time to test the idea of a “wealth tax”.  The government of Cyprus was given two options by the IMF and the EU – either they could confiscate money from private bank accounts or they could leave the eurozone.  Apparently this was presented as a “take it or leave it” proposition, and many are using the world “blackmail” to describe what has happened.  Sadly, this decision is going to set a very ominous precedent for the future and it is going to have ripple effects far beyond Cyprus.  After the banksters steal money from bank accounts in Cyprus they will start doing it everywhere.  If this “bank robbery” goes well, it will only be a matter of time before depositors in nations such as Greece, Italy, Spain and Portugal are asked to take “haircuts” as well.  And what will happen one day when the U.S. financial system collapses?  Will U.S. bank accounts also be hit with a “one time” wealth tax?  That is very frightening to think about.

Cyprus is a very small nation, so it is not the amount of money involved that is such a big deal.  Rather, the reason why this is all so troubling is that this “wealth tax” is shattering confidence in the European banking system.  Never before have the banksters come directly after bank accounts.

If everything goes according to plan, every bank account in Cyprus will be hit with a “one time fee” this week.  Accounts with less than 100,000 euros will be hit with a 6.75% tax, and accounts with more than 100,000 euros will be hit with a 9.9% tax.

How would you feel if something like this happened where you live?

How would you feel if the banksters suddenly demanded that you hand over 10 percent of all the money that you had in the bank?

And why would anyone want to still put money into the bank in nations such as Greece, Italy, Spain or Portugal after all of this?

One writer for Forbes has called this “probably the single most inexplicably irresponsible decision in banking supervision in the advanced world since the 1930s.”  And I would agree with that statement.  I certainly did not expect to see anything like this in Europe.  This is going to cause people to pull money out of banks all over the continent.  If I was living in Europe (and especially if I was living in one of the more financially-troubled countries) that is exactly what I would be doing.

The bank runs that we witnessed in Cyprus over the weekend may just be a preview of what is coming.  When this “wealth tax” was announced, it triggered a run on the ATMs and many of them ran out of cash very rapidly.  A bank holiday was declared for Monday, and all electronic transfers of money were banned.

Needless to say, the people of Cyprus were not too pleased about all of this.  In fact, one very angry man actually parked his bulldozer outside of one bank branch and threatened to physically bulldoze his way inside.

But this robbery by the banksters has not been completed yet.  First, the Cypriot Parliament must approve the new law authorizing this wealth confiscation on Monday.  If it is approved, then the actually wealth confiscation will take place on Tuesday morning.

According to Reuters, the new president of Cyprus is warning that if the bank account tax is not approved the two largest banks in Cyprus will collapse and there will be complete and total financial chaos in his country…

President Nicos Anastasiades, elected three weeks ago with a pledge to negotiate a swift bailout, said refusal to agree to terms would have led to the collapse of the two largest banks.

“On Tuesday … We would either choose the catastrophic scenario of disorderly bankruptcy or the scenario of a painful but controlled management of the crisis,” Anastasiades said in written statement.

In several statements since his election, he had previously categorically ruled out a deposit haircut.

The fact that the new president had previously ruled out any kind of a wealth tax has a lot of people very, very upset.  They feel like they were flat out lied to

“I’m furious,” said Chris Drake, a former Middle East correspondent for the BBC who lives in Cyprus. “There were plenty of opportunities to take our money out; we didn’t because we were promised it was a red line which would not be crossed.”

But apparently the wealth confiscation could actually have been far worse.  According to one report, the IMF and the EU were originally demanding a 40% wealth tax on bank account holders in Cyprus…

As the President of Cyprus proclaims  to his people that “we’ should all take responsibility as his historic decision will “lead to the permanent rescue of the economy,” it appears that the settled-upon 9.9% haircut is a ‘good deal’ compared to the stunning 40% of total deposits that Germany’s FinMin Schaeuble and the IMF demanded.

Could you imagine?

How would you feel if you woke up someday and 40% of all your money had been taken out of your bank accounts?

At this point, there is still some doubt about whether this plan will actually be adopted or not.

Right now the new president of Cyprus does not have the votes that he needs, but you can be sure that there is some high level arm twisting going on.

Originally the vote was supposed to happen on Sunday, but it was delayed until Monday to allow for some extra “persuading” to be done.

And of course the people of Cyprus are overwhelmingly against this wealth tax.  In fact, one poll found that 71 percent of the entire population of Cyprus wants this plan to be voted down.

The funny thing is that Cyprus is not even in that bad of shape.

The unemployment rate is around 12 percent, but in other European nations such as Greece and Spain the unemployment rate is more than double that.

Cyprus has a debt to GDP ratio of about 87 percent, but the United States has a debt to GDP ratio of well over 100 percent.

So if they will go directly after bank accounts in Cyprus, what will stop them from going after bank accounts in larger nations when the time comes?

In the final analysis, this is a game changer.  No longer will any bank account in the western world be considered to be 100 percent safe.

Trust is a funny thing.  It takes a long time to build, but it can be destroyed in a single moment.

Trust in European banks has now been severely damaged, and that damage is not going to be undone any time soon.

A recent blog post by the CEO of Saxo Bank, Lars Christensen, did a great job of explaining how incredibly damaging this move by the IMF and the EU truly is…

This is a breach of fundamental property rights, dictated to a small country by foreign powers and it must make every bank depositor in Europe shiver. Although the representatives at the bailout press conference tried to present this as a one-off, they were not willing to rule out similar measures elsewhere – not that it would have mattered much as the trust is gone anyway. It is now difficult to expect any kind of limitation to what measures the Troika and EU might take when the crisis really starts to bite.

if you can do this once, you can do it again. if you can confiscate 10 percent of a bank customer’s money, you can confiscate 25, 50 or even 100 percent. I now believe we will see worse as the panic increases, with politicians desperately trying to keep the EUR alive.

Depositors in other prospective bailout countries must be running scared – is it safe to keep money in an Italian, Spanish or Greek bank any more? I dont know, must be the answer. Is it prudent to take the risk? You decide. I fear this will lead to massive capital outflows from weak Eurozone countries, just about the last thing they need right now.

This is the biggest moment that we have witnessed since the beginning of the European financial crisis.

Financial authorities in Europe could try to calm nerves by at least pretending that this will never happen again in any other country, but so far  they are refusing to do that

Jeroen Dijsselbloem, president of the group of euro-area ministers, on Saturday declined to rule out taxes on depositors in countries beyond Cyprus, although he said such a measure was not currently being considered.

Such a measure is “not currently being considered” for other members of the eurozone?

Yeah, that sure is going to make people feel a lot more confident in what is coming next.

I have insisted over and over that the next wave of the economic collapse would originate in Europe, and we may have just witnessed the decision that will cause the dominoes to start to fall.

The banksters have sent a very clear message.  When the chips are down, they are going to come after YOUR money.

So what do you think about the bank robbery that is taking place in Cyprus?  Please feel free to post a comment with your thoughts below…

Bank Robbery In Progress - Photo by PAVA

  • since gary2 is a no information racist, he will only lose about $3.12 if this occurred in the USA

  • Beanodle

    The Cypriot bank “Holiday” will be extended to Tuesday and possibly even Wednesday or later.

    There are Cypriot banks in my country and they are being drained of funds even now.
    By Friday (Barring continued bank holidays) it will be lucky if any Cypriot banks have any depositors funds at all.
    If the Cypriot parliament doesn’t pass the sequestering of deposits, then I would suggest they may leave the Euro and some other enterprising government will step in and prop up the Cyprian economy.
    Watch the snowball start then.

  • K

    I am not surprised, this is all part of the plan. They know most will not take out all their cash. What are you going to do, put it in a strong box? Well you better be sitting on that box with a loaded shotgun. Beside that, there is only 1/3 as much printed money as exists in the economy. Think they will print more just so you can sit on it? No the banks,and the Government, and the elites, are no better than common theives. Though in this Country, I expect them to go after the IRA’S and the 401K’s first.

    • Flossie

      Yes, you’re right about the IRAs and 401(k)s. Several congressmen have already raised the topic of “all that wealth sitting idle.”

    • cheesymogul

      1/3? You are overly optimistic!
      5% is more likely…

  • Roger Smith

    In the U.S. we are told that the C.P.I. is less than 2%. Anyone who buys stuff knows this is a lie. Inflation is actually between 6 and 8%. So going with the middle figure (7%), every bank account in America is getting hit with a 7% tax EVERY YEAR!. Given a choice, I think I’d prefer the “one time” 9%. Of course, for the Cypriots, they’re getting slammed from all sides; pre-engineered inflation by the ECB in addition to this latest move of a “John Dillinger” style bank robbery as provided by the Cyprus banking system. Considering that this Island is already under social stress from long standing Greek-Turkish tensions, this could really light off a firestorm of violence.


    They have already done it here, if you don’t believe me ask Gerald Celente, he will tell you. This is why i don’t keep all my money in the bank at least not in a account.I fear what ever you do the banks or the government will get you one way or another.

    • Discordian

      They have already laid the groundwork for up to 100% wealth confiscation from banking accounts and instruments here in the U.S. Remember the Jon Corzine/M.F. Global trial last August. Not only was criminal Jon Corzine NOT prosecuted and put away for multi-millions or billions of commodities theft, but the corrupt criminal judge ordered that in similar cases of economic crash, BANKS will be protected before depositers and holders since they are the “secured party.” THEY ARE COVERED WITH OUR WEALTH; WE ARE NOT.

      All Europe will do a bank run this week in response to this outright THEFT by the banks, I would guess, and economic crash will likely follow. The only way out of that type of crash is World War. Is it not fascinating that, coincidentally, our illegitimate, figurehead “President” will be in Israel at the end of this month? What kind of false flag might precipitate a Third World War?

      Just some thoughts. Hope I’m wrong, but I think we could see this coming for quite some time.

      • Jerry Madders

        MF Global customers lost $1.5 B
        Cyprus bank customers are gitting hit for $6 B
        The trend is not your friend

      • WarriorClass3

        Expect war by Friday, whether a false flag or Syria teaming up with Iran for some revenge, backed by Russia. With Obama in Israel, revenge is within striking distance.

        • ian

          can we place a bet?

          • WarriorClass3


          • You’re an idiot

            Well you would have lost that bet… nut case.

        • El Pollo de Oro

          As Gerald Celente says, “when all else fails, they take you to war.”

      • El Pollo de Oro

        Discordian: As much as I bash the Republi-Cons, I always warn my liberal/progressive friends that the Democrap wing of The War Party is also quite evil and corrupt. And I give you People’s Exhibit A: criminal mastermind and former New Jersey Gov. Jon Corzine, or as Gerald Celente correctly describes him, Jon “The Don” Corzine. That man should be in prison along with his Goldman Sachs buddies.

    • Syrin

      Amen bro. I converted all my liquid assets 18 months ago as I saw this day coming.

      • RICHARD

        I did the same thing.

    • arizonadiane

      I just watched the first two movies on Atlas Shrugged. Ayn Rand wrote this in the 50’s I think and it is so much were we are now. Only it will get worse. Amazing.

      • RICHARD

        I saw those movies to. Can’t wait to see #3 but I am starting to doubt if it will ever come out.

    • El Pollo de Oro

      Richard: Once again, Gerald Celente calls it. Celente, for a long time, has been warning us about bank holidays, bank runs and governments flat-out confiscating people’s money to bail out the banksters. Signore Celente has major credibility in my book, and this atrocity in Cyprus only enhances that credibility.

      • RICHARD

        I agree with you, I have been following him for a long time, don’t see him very much anymore.

  • robbing hoodlum

    he takes from the richand gives to the poor…
    robin hood.
    he takes from the poor to give to the rich…

    • All politicians are the same.
      It’s like buying happy meals that are either boy or girl: They are the same, just slightly different.

    • Mondobeyondo

      Reverse Robin Hood: Steal from the needy and give to the greedy.

  • Jim

    This is scary stuff. I think this is snowball that is going to start the avalanche. I am pulling every cent that I can out of the banks and my 401k tomorrow. I will pay the penalties.

    • Discordian

      Great idea, Jim. I retired from my job in teaching in Sept. and pulled my retirement out in a lump sum. Ditched a big bank in Dec. and went with a small local one, only keeping it for bills. Get out now!

    • Makati1

      My step sister did that last year and bought a small farm with it. As for cash, you can buy a small, fire proof safe, that can be anchored to a concrete wall or slab, for your cash. Put it in a place not easily seen by visitors or other family members so It remains secret. Cover it with a box or behind books on a shelf. BTW: water will not hurt cash if it is not left in it too long, so basements are ok.

    • It is unlikely that this would happen in the US. However, it is not off the table, as Bernanke could do it.

  • Jodi

    A friend of mine was freaked out about this news today. I said to her “coming to a bank near you”

  • guts for garters

    whatever bank,whatever country,whatever continent, whatever planet we must get our cash,for whatever cash is going to worth in the coming months.good luck!

  • None

    Im removing my thousands of dollars from banks tomorrow… im done. No more, this was the shot across the bow.. The line in the sand..

    Anyone who doesn’t take out their money is a fool.

    • None

      From USA banks, I dont even live in Cyprus…

    • l. g.

      I agree. I will only leave enough money in my checking account to cover my bills. If it means a couple more trips a month to the bank to make withdrawals or deposits, then so be it. I walk to the bank, so the extra exercise will be good for me.

      • This still allows the removal of “their” tax FIRST…then your bills will come next…nope, gonna have to start some sort of cash payment plan..don’t know if it can be done on this short notice, but certainly would give it one heck of a try. The problem is convincing those people who send or pay YOU a check to do so in another manner.

    • Roger Smith

      Oh yeah? while you’re doing that, I’ll be removing my “tens” of dollars from MY bank….

      • Good deal, Roger….I wish my parents would lissen, but they won’t…they will be the ones to wake up some morning and literally FAINT if it would happen to them in their “old age”…this has taught me a valuable lesson…”you snooze, you lose”…C’mon, people, wake up…and watch out for ass…and assets”…

        • merry529

          just before I looked at the bank draft that said $9384, I be certain …that…my cousin was truly earning money part-time on their apple laptop.. there friend brother haz done this 4 only a year and resantly cleared the mortgage on there place and bought a great Chevrolet Corvette. go to, jump15.comCHECK IT OUT

        • Brenda Thompson

          Caden. even though Scott`s comment is nice, on friday I bought a brand new Infiniti since getting a check for $6384 this past 4 weeks and a little over ten thousand last-munth. this is actually the nicest job Ive had. I started this 3 months ago and right away brought home over $72, per-hour. I follow this website,, jump15.comCHECK IT OUT

    • arizonadiane

      I don’t believe the banks will let you do that. I think it will take time to remove all of our money and when the banks see the pattern, they will close.

      • CrazyCauckz

        Open a credit union account and transfer small portions of your money. When there is only about a few hundred dollars then you tell them you want to close the account.

    • markthetruth

      Uncle Sam Says>>>: “WHATS YOURS IS MINE” and “WHATS MINE IS MINE.

      the end…

    • Mondobeyondo

      I would do the same.

      Watch stocks for Serta and Sleep America rise in the next few days… ha!!

    • As Max Keiser says, keep only that which you can afford to lose in banks.

  • Jodi

    And the top news story on Yahoo…drum roll please, J. Lo nude dress is a no, no. I wonder also what youtube video I will see on the local news in the morning? It won’t be about the bankster theft.

    • Jodi

      Update: I saw a youtube video on some cute little puppies. No news on the theft. Surprise, Surprise.

  • Jodi

    I don’t know what to do with my 401k. Any suggestions?

    • kfilly

      I cashed mine out. Bought guns, ammo, food, food storage supplies, other survival supplies, and physical precious metals. It depends upon what you believe about our economy, but I think I have an idea as you are on an economic collapse blog. I can’t tell you what to do, but that is what I did. The choice is entirely up to you.

    • StandingbyinMO

      Roll over to a metals based IRA, should be penalty free, then cash out the IRA on maybe thur or fri (?) when metal prices soar due to chaos in Europe over this theft and consequent bank run. Gains should cover penalty for cash out (could get metals out instead if you go with the right company). If you time it all right you should have same amount of money (maybe more) in your choice of PM’s or cash. Use some of it to buy a shotgun and a good safe!

      • Jodi

        Thank you for the suggestions, got a shotgun and a good safe!

  • Curt W

    I find it interesting they did this on a friday night, with the following monday a bank holiday.
    This is not the first time savers have been punished, central banks keeping interest rates at abnormal lows for 5 years have effectively stolen billions from savers. This is simply a more direct theft.

    • l. g.

      This is how it’s always done. The bankers/government secretly plan it this way. They usually will make an announcement over the weekend when banks are closed so a bank run is minimal. And nowadays they will stop online transactions as well, just like it is happening in Cyprus.

    • VegasBob

      I read somewhere over the weekend that between Greedscam’s 1% interest rates during 2003-2004 and Bernokio’s 0% interest rates for the last 4-1/2 years, the criminals at the Federal Reserve have now stolen nearly $9.9 TRILLION of interest income from savers over the past 10 years.

      Greedscam and Bernokio should both be facing criminal charges and life sentences in prison.

  • People won’t be worried until the it actually occurs in America as the “FDIC” assures up to $250,000. That being said, only commodities/resources protects an individual’s wealth. As all fiat currencies will eventually collapse.

  • Bruce

    There is NO question this will happen here in the U.S.. The question is “WHEN”?

    • WarriorClass3

      What will happen is a bank run spreading across Europe and to the US. That alone will crash the entire system. As for “when,” it will begin tomorrow and be over by Friday, except for the crying – that will last a few years.

      • If we are lucky, it will only be crying… What, you think it will only be people making a run on the banks? What about countries ^.^

  • ItIsWellWithMySoul

    I remember reading in history that during the beginning of the great depression nearly everyone went to withdraw all their money from the banks leaving the banks dry which caused the banks to close and the depression to get worse. It seams to me like Cyprus will make things worse for themselves if this goes through tomorrow and the banks will probably have to close up because their people will not trust the banks again. This is just strange to me.

  • guts??

    “ONLY” in the U,S,? It’s gonna happen everywhere around the world! This is nothing else than a resistance-test. Just another “simple” experiment to collect data, prepare for future reference and statistics to decide later about how to do the big one …

  • Glad I did some shopping for precious metals…

  • markthetruth

    “Not just the Banks”

    It will Happen just like they will soon legalized Horse meat.

    Sell us Air in our silver based snack Packages which when you open the bag Poof 60% gone.

    Reducing the ounces on all Package Food little by little
    11oz was 12oz but paying more.

    Frozen foods are shrinking like crazy aka. Pizza and ice cream.

    the end…

  • guts for garters

    on second thoughts,is it all just to frighten us into investing in, for example gold, property or other tangible assets? I`ll keep an eye on prices of such in the forthcoming.try to keep smiling.

  • Cyp

    The primary goal for a single european currency is not supposed to be “all for the rich-developed north”. EUROZONE IS NOT A TICKET TO OUR POCKET! They are after Cypriot oil rigs and they are ruthless. A “no vote” from the parliament must bring new elections in Cyprus

  • guts??

    … and get tangled up in possessions and properties which not only makes you more traceable, but also to domesticate you, give them the possibility to control you, your movements and whatever you do! Nothing to hide but I absolutely dislike this situation!!!

    • Robert (qslv)

      There is no property ownership in the U.S. anymore. Fully paid for real estate is rented from the government. The rental payments are called property tax. If you don’t believe me, try not paying your property tax.

  • K

    Be careful, guts for garters may well be correct. There is so much manipulation in the marketplace. This could be an attempt to start a major panic. If I had a retirement account, I might empty that. There has indeed been discussions in D.C. on that topic. But above all things remember, Gold and Silver may indeed go higher. But do not make the mistake many homeowners made. That up is the only direction, it can go in. Those homeowners found, down was an equal possibility. What this proves more than anything else. Is there is no totally safe investment.

  • Jason

    Michael , how much time do we have to pull all our money out of our bank accounts before we lose it all to bankster crooks supported by the crooks in Washington dc. ? Gold and Silver is the only safe place right now , correct me if Iam wrong . thanks

  • Syrin

    This is the GARY plan, but the parasites of the world haven’t figured out what will happen when the host fights back. The parasites are not long for this world. They have neither the means nor the intelligence to survive what is coming.

  • leeholsen

    I’ve kept looking for a sign and when a government outright steals from its people; that’s a HUGE sign.
    i’ve already got a stash of cash, but i’m buying a stash of silver tomorrow.
    maybe this whole thing turns out to be another 15 years of deleveraging and zero economic growth and rolling recessions like i’m expecting, but if governments are willing to take people’s money as they see fit; it’s possible this gets real bad, real fast(within a year).

  • Paul

    I am surprised only 71% of Cypriots want the measure voted down. Figured the percentage would be much higher than that.

    • ItIsWellWithMySoul

      The 29% whi agree are probably those who do not have more than $1000 in the bank to begin with.

      • Bad Kitty Cat

        Doubt it. If you only have 1000 in the bank, then very likely the $60+ they want to take is VERY valuable to you and needed for necessities.

      • JvZ

        It’s the small savers that will pay, the big savers have their money in foreign accounts.

        I’m from New Zealand, in 2011 the government published a pre-position document with almost exactly this scenario.

  • disgraceful

    The bank under their pillow would have made them 10%…

    Worse yet, Tuesday morning several trendy hipsters will be upset at the line at the bank, while trying to make a deposit…

  • Paul

    Might as well bury your money out in the backyard. Only way to make sure these slimy bankers do not get their hands on your money.

  • Paul

    It is estimated that between 3 to 5 percent of world’s population is considered a sociopath or a pyschopath.
    These types of people are playing in instrumental role in destroying our economy and enviornment.
    Another issue is way too many people have their head in the sand blindly believing drivel the mainstream media spews out on a daily basis.

    • jaded

      Couldn’t of put it any better!

  • Makati1

    I removed all of my money, not necessary to keep he account open, from my banks accounts long ago. It is inevitable, but in the Us, they will nationalize your retirement accounts first. THEN they will ‘Tax’ your bank accounts or just ‘downsize’ them by 50% or more when they devalue the dollar after it collapses. .

    • Roger Smith

      When they nationalize all 401K and IRA accounts, they’ll do it in the name of “providing security” to the retiree. They’ll point to some obscure case where an employer improperly handled 401K funds and use that instance to justify “governmental oversight” of all accounts….Oh and of course this new oversight will require each account to pay a small “security fee”…..quarterly…and will be based on a percentage of account balance. Then as the new rules get introduces and people realize that they’re no longer able to borrow from, withdraw or generally access their own funds, it will become apparent that it is no longer “THEIR MONEY”.

      • jaded

        Like Celente says, they just make this stuff up. And they’ll make more BS up in order to take everything.

  • WarriorClass3

    If this was a beta test, it was a really bad idea. The run on banks in Southern Europe starting tomorrow are going to bankrupt the entire system. This will be the bank run that collapsed the West, and I have no doubt that it will cause a run in the US as well. Every bank in the West will be closed by Friday. The race to the bottom starts in ernest tomorrow moring. Remember if they can do it to the depositors, they can do it to the equity holders, your IRAs, everything. There will be one operative word in the markets tomorrow – SELL!

  • rat28

    I urge everyone who plan to pull out your money from the banks to calm down.. Your action will cause the banking system to collapse and bring the economy down to its knee. There would be a chain reaction that will bring widespread unemployment and crime..which make your cash and gold coin stash at home unsafe!

    • Makati1

      Better it happens now when we still have something to lose…

    • The system should have collapsed in 2008. We, collectively, have paid trillions to prop it up to the benefit of the banksters that engineered the collapse.
      This is a festering wound covered with layers of band-aids, and it won’t heal until they’re ripped away and to wound exposed to sunshine and fresh air.
      Pull your money out, avoid the system by not making investments, not buying on credit, and not feeding the bank with your funds. Keep only enough in the bank to pay immediate bills. Keep all else, as our grand-parents (and great grand-parents) who survived the first Great Depression did, in your mattress or other manner of personal safe-keeping. History doesn’t repeat, it is said, but it rhymes.
      My 401k plan rules changed in 2009, I can’t even borrow against it without a substantial pile of paper AND my employers approval. The only way to get my hands on my 401k is to quit my job and face the tides of other unemployed.
      Since the present value of money is now 0%, I have my tax withholdings increased to save off a banks books. I abhor the idea, but there is zero safety in a bank anymore. At least, with the Federal Government, my refund will be in the newest form of currency. AND I control how much is withheld. If things change, I can reduce the excess withholding to zero.
      Start thinking pessimistically, or cynically, government and the banks that own and control it, have only their interests at heart.

  • Colin


    When you have the chance, I suggest that you read this article, “How America Is Eating Its Young”, over at Daily Kos. It connects to what you have been saying about the decline in this country.

    “Astonishingly, none of the media coverage of this report appears to allow for the possibility that this phenomenon may affect not only the
    current generation of twenty and thirty-somethings, but future ones as well. Each generation ultimately transfers what wealth it has (left) to the next, but as they live longer, the parents that these twenty and thirty-somethings will become are going to have little if anything left to pass on to their own children. That in turn will decrease their children’s education and job prospects, and the vicious cycle of stagnation and downward mobility continues. Those
    families that have accumulated substantial wealth over the course of their lives will become more and more isolated socially, culturally and
    economically from those that have not, and the enormous levels of wealth the country is capable of generating will continue to concentrate into a
    small segment of the population. If that happens on a scale this large–and there is no reason to suspect that it won’t (in fact it already is)–what we will likely see in twenty years is a nation that has become more and more impoverished, with a tiny segment clinging to huge amounts of wealth.

    “The implications of this trend are as obvious as they are alarming. A generation of aging Gen Y’rs without adequate means to sustain themselves through retirement will necessarily require a broader degree
    of governmental support, whatever the means. The current fixation of both political parties with curtailing “entitlement” programs in the name of deficit reduction –either by cutting benefits, raising the
    eligibility ages, or reducing cost-of living adjustments –is not only wrongheaded, but a recipe for societal suicide. If we don’t invest our resources and modify our policies in ways that benefit our young people,
    the American Experiment is going to come to a very bleak end.”

  • Ilovecyprus

    Cyprus banks lost billions in ill-advised investments in Greek bonds. They are insolvent. Which is worse, total loss or a 6.7% to 9.9% loss? They are promised a bank stock, right?

  • germanycalling

    Could go two ways. If the theft is pulled off then the rest of Europe will start the biggest bank run you have ever seen. The fractional reserve system will fail big time, even if a prolonged bank holiday is called Euro wide. Ii, on the other hand the vote today ,Monday 18 March, is a no, then cyprus goes down the tubes and may be the domino effect starter. The feeling here with alot of German commentators is that Frau Merkel has shot herself in the foot. Shame it wasnt in her head.

  • Ralfine

    Right now, with the gold prices skyrocketing is the right time to buy gold. Give all your savings to some bankster for a gold ring he bought off a starving senior for some peanuts.

  • chilller

    I’d rather live in short term financial chaos than an infinite IMF/EU prison…blackmailing bullies.

  • chilller

    Everyone around the globe should remove their money in banks this week in support of the tiny country the IMF/EU view as insignificant enough to bully around and attempt this robbery.

  • Wait until Congress takes 100% of your 401k, Roth, IRA and pension. Think it won’t happen? They’re already talking about it.
    Now, see if you can withdraw your 401k.

  • Ralfine

    Just saw a commentary on TV regarding cyprus. The guy said, he doesn’t understand the ruckus. The savers got 4% interest annually in cyprus. now they pay back 2 years worth of interest and get shares in the bank in return.

    Withdrawing the money and worrying about burglary and fire is no option for him.

  • Orange Jean

    Do you think people with their savings in a credit union are in as much risk, or not?

    I “fired” all banks about 20 years ago, when my bank of 20 yrs started charging a fee for me to wait in line.

    • K

      No difference if you are in a credit union. But please remember, in this Country I expect them to go after the retirement accounts. Why, even though there is a great deal of money in such accounts. Most people do not have them. Less likely to start a bank panic. Also remember that large cash withdrawals, or deposits are reported to the Government.

  • peaceangel

    Way too much stuff is happening all of a sudden in the world and I decided for sure that I will take my money out of my bank now also. It is time. Lots of people are warning us this is coming and we all know the banks do not have our money, so I am done.

  • князь истоков

    Это происходит из-за политики старой аристократической элиты которая направлена на снижение количества новой элиты.

    • K

      Translation: It occurs because of policy of old aristocratic elite which is directed on decrease in quantity of new elite.



  • One way out


  • leocall54

    it can only be classed as theft,similar to them robbing pension funds and then saying there is not enough money in the fund

  • George

    I say give it back to them as it is “Redeemable in lawful money” Pursuant to USC 411 the law hasn’t changed it just got complicated. And it is a Fiat Currency and FRN’s are pretty much worthless anymore. So no matter were you hide them they are steeling the value and not just the physical note. As of today I have returned over $200, but It will do no good by my self and as long as they are allowed to print. I Feel the Barter System is the only way forward let them Keep there gold and Silver and grow a garden. p.s. Those that have gold and Silver can’t Eat it!!!!

  • leocall54

    its not making any money in the bank anyway,you are just giving them free use of your cash

  • No one’s money is safe any more anywhere, in any country…time to start using gold or silver, and stash it away..and not in a bank…Don’t wake up some morning and find yourself penniless…

  • chris

    I had my wife remove all our money after reading about cyprus!

    Plano, Texas

  • Johnny Smith

    People here would be wise to learn more about BITCOIN.

  • Robert (qslv)

    Nice catch, Michael. Nothing about this in the drive-by media. Nothing about this on RT media. Nothing about this even in the fringe media. In fact they are saying the equities markets are up on good news from the E.U. ! Maybe I should send my cash to Gary or a Nigerian Prince for safekeeping, LOL.

  • FounderChurch


    This bank robbery of your savings accounts right here in America is closer than you think. The banking laws allow your bank account to be seized in part or in whole by both the banks and the federal government any time they wish to push the button.

    Banking law in good old America already states that the bank can legally refuse to give you your money anytime it wishes to do so. Ask any banker and they will tell you the same thing. And there is no limit as to how long they can refuse to give you your money.

    Technically, right now, you would have to sue in civil court to force any bank, savings and loan or credit union to get your money if they wanted to keep it.

    And even FDIC does not protect you as the government has the right under present law to refuse to pay you indefinitely your FDIC insured savings should the bank refuse to let you have your money. Again you would have to sue the government in federal civil court to force them to pay on your FDIC insurance. Good luck on that.

    And an indefinite bank holiday can be put in effect in America in a matter of minutes anytime the government and the banks want to do it, and it could also be applied to bank so-called safe-deposit boxes as well.

    Will this happen. History teaches us that sooner or later it will happen in America.

    When a country drops into anarchy and civil disorder descends on the people, and criminals roam the streets looking for victims it is always the government that is the greatest and worst criminal of them all. “In a system based on grand larceny, petite larceny by street criminals is just is just conformity.” Monkey see, monkey do.

    The difference between the banks and the government on one hand, and Jesse James and his gang on the other, is that the government and the banks have a licenses to rob you at will, while poor Jesse was robbing people without a license to his name.

    Plus the banks and the government have the whole armed forces, and all the police, federal, state and local to help them do their robbing, while poor Jesse and his small gang only had a few hand guns.

  • jox

    The article is not complete. Cyprus was a tax haven for the dirty money from the russian mafia. This was embarrasing EU. So when Cyprus ask for a bailout, the Germans think ‘to save the russian mafias with our money? No way’. Thus this haircut on the savers is a kind of punishment against Cyprus. Now the banks stoks are down in Spain, but there are no signs of a bank run.

  • sharonsj

    Wealth tax is the wrong name for it. It’s just another way for the banks to privatize the profits but socialize the losses. They’ve done this in every country in different ways (including America).

    People in Europe have been protesting and rioting for a long time but our media barely covers the news. Maybe they are afraid we will get the “wrong ideas” and start imitating the Europeans. Gee, I certainly hope so.

  • kathy k

    What boggles my mind is that MSM is absolutely silent on this mess. My husband & I have been reading every blog we can on this Cyprus catastrophe yet nothing is being reported on MSM. UNBELIEVABLE!! God hepl us all

    • K

      Minor mention on CNBC. Remember there has been no vote in Cyprus yet. Stay calm, but ready to act, in your own best interests.

      • kathy k

        Thanks k always enjoy your input believe me I stand ready

  • Mr.. Green

    Letting a mouse steal your cheese constantly is bad enough, But then you cry about how unfair this terrible mouse is and how you dont know what to do anymore, And how it scares you into letting it do what it wants, for those at a loss about the roaring mouse….
    Years ago, we would just kill the mouse.

  • frank1569

    Me being literally banned from the US banking system doesn’t seem like such a bad thing after all.

  • hillbillyhustle

    watching it on the news. Now the cypress bank is closed until Thurs. My only logic is that it is gonna pass parliament. They are just trying to find the magic numbers.Personally, I only keep enough money in the bank to pay bills. Not so worry about the USA yet.

  • David M

    I think Gold and Silver to rise as people look to do something with their money. Sure, they could have stacks of cash. But PM’s are more safe and could rise in value.

  • BLaze

    “Cyprus was probably chosen because it is very small (therefore nobody will care too much about it)” Are you completely blind towards the truth? Cyprus is used to save money by rich people from Russia. So if Cyprus does this, Russia will notice and that’s a given. Not to mention with the amount of Russian citizens in Cyprus. So unless you see Russia as nobody then yeah, nobody will notice.

  • Social contract broken – cue civil wars.

  • prutt

    this is why dhs purchased 1.6 billion hollow point bullets

    2800 tanks , operating fema camps and underground bunkers ….party on america its monday night football

  • Boberto

    Author please fix the word “world” to “word” right in your sentance ‘Apparently this was presented as a “take it or leave it” proposition,
    and many are using the world “blackmail” to describe what has happened.’

    I’d like to forward this to family, but typos always seem to provide an excuse to not heed the heralds of bad times.

  • Joe Dirt

    Ah yes, let the communists take your guns, then they take your money,,,,

  • Spiros

    Dear Mike,

    Are Depositors in Cyprus really worse off than those in the U.S?

    Let’s think about this for a minute.

    If you live in Cyprus and had €100,000 in the Cyprian bank over the past five year paying, on average 5% interest, you would have about €127,600 today. Well now you find out that the 10% of your savings will go to bail out your bank. Okay, that’s €12,760 which leaves you with €114,840.

    The person living in the USA who had $100,000 deposited at Bank of America five years ago, has about $105,100 today after being lucky to receive
    1% interest per year, which is a stretch.

    So, whose better off, the citizen of Cyprus today or the average American? Why is the Cyprus story such a big deal, or more importantly, why is the US story NOT a big deal. Perhaps the media should focus on how the US banks are being bailed out by QE , extraordinary interest rates and other exceptional
    measures that taking from the poor to give to the Too Big Too Fail?

  • El Pollo de Oro

    For years, I have been urging people to listen to Gerald Celente. And as far as I’m concerned, this atrocity in Cyprus only enhances Celente’s credibility. Signore Celente has been predicting bank runs, bank holidays and flat-out confiscation of people’s assets. Now, in Cyprus, the banksters are taking their corruption and thievery to another level. This is exactly the type of abomination Celente has been warning us about.

    There is much talk of bank runs all over Europe, but the situation is even more dire than that. This horrifying precedent in Cyprus could lead to bank runs all over the world, including here in this Third World pig sty called The Banana Republic of America (formerly the USA). This was a wonderful country to grow up in, but now, under the corrupt bankster Republi-Cons and corrupt bankster Democraps, it is rotten and filthy to the core. And now that this frightening precedent in Cyprus is being set, it is only a matter of time before similar measures are taken in the BRA. So don’t be surprised if one day, the banksters announce that they’re taking 10% of the funds in your IRA in order to finance a bailout.

    “We’re seeng history repeat it self. The crash of 1929—the panic of ’08. Currency wars, trade war, world war. We’re in currency war. Next comes world war. To get people’s minds off the terrible economics, they take you to war.”—Gerald

    “This is an entire global meltdown, and you’re seeing it at every level.”—Gerald Celente

    “Los Estados Unidos has turned into a banana republic, a fascist banana republic.”—Gerald Celente

    “Everything the globalists do is about dominating us and breaking our will like a pimp does to a woman he’s drug off into slavery.”—Alex Jones

    “It doesn’t matter what Angela Merkel says: people are rebelling. They do not want to be part of the Eurozone. They do not want grinding austerity while their GDPs are declining hugely.”—Nigel Farage, leader of the UK Independence Party

    “The EU Titanic has now hit the iceberg. It is a European union of economic failure.”—Nigel Farage, leader of the UK Independence Party

    “It won’t matter how much money the government prints if the U.S. dollar doesn’t have any value. You’re looking at runaway inflation or hyperinflation, black markets, martial law, curfew. There are a lot of things that could end up happening in this country
    that no one is really fathoming. I think the type of civil unrest that might erupt in our cities will be far less civil than what happened in Egypt.”—Peter

    “These major banks in Europe are technically
    insolvent.”—Max Keiser

    “The people in Greece are suffering the real results of this global occupation by bankers. People in Greece are dying in the streets. They can’t afford health care. They can’t afford food as the result of this incredible kleptocracy that has destroyed the global banking system. And nobody in America, particularly Barack Obama and his administration, are doing anything about it. People need to push out the banking terrorists.”—Max Keiser

    “There are some 40 million poor in the United States who devote 35 percent of their after-tax incomes to pay for food. As the cost of fossil fuel climbs, as climate change continues to disrupt agricultural production and as populations and unemployment swell, we will find ourselves convulsed in more global and domestic unrest. Food riots and political protests will be frequent, as will malnutrition and starvation. Desperate people employ desperate measures to survive. And the elites will use the surveillance and security state to attempt to crush all forms of popular dissent.” —Chris Hedges

    So, preppers, the next time someone calls you paranoid or says you’re an alarmist, here’s a word to tell them in response: Cyprus. God help Europe, and God help the collapsing Banana Republic of America (land of the corrupt and home of the desperate).

  • Sandbagger

    Pastor Lindsay Williams once said when the Euro collapses, the dollar has maybe two weeks before it also collapses.

    Don’t wait too long to protect YOUR savings!

  • Cal

    I wish this was reported on by the main stream media! I still think this will take a while until it reaches us banks. Keep stacking silver, knowledge, and calories for the day it does reach USA.
    Start a business or rent out a house. Alternative streams of income will be huge in the next few years.

  • Patriot Alice

    The banks aren’t giving any interest for our money, why run the risk? Maybe it’s time to take it all out, before the banks freeze the accounts and then pass laws..

  • brian

    pull out but all my loans and credit card am no longer liable for them take my money we will have war the banks want to commit civil unrest this will happen in america and elsewhare watch and see in which case will start ww3 antoher civil war is comming to america big time

  • brian

    i say kill the rich anyone who makes a 100k should be shot

    • Bad Kitty Cat

      I dont think the 100K rich are causing the problems… it is more like the 100 Mil or Billion rich. Not that killing anyone will solve anything…

  • brian

    if this happens in america 90 precent will go along with it or be hanging dry I have hardly nothing in the bank or in savings I put 700 dollars towards my credit card
    187 towards loans 266 gose to my car 67 goes to my insurance so on the 1st am left with just 20 dollars so if the banks taxed me without my consent I wil file a lost theft cauasulity claim on my tax return


    LOL. I don’t have time for that sort of stuff, I am all about survivial, and,economics. If something don’t happen soon I will have to start giving some of this food away.


    I heard about something like this 3 or 4 years ago, but they didn’t tax the whole account it was just the money that was coming in. I guess it would be very smart to keep you savings and checking accounts really low.

  • markthetruth


  • cpgone

    Great article. I still cant understand why the ECB didnt just make Cyprus buy some kinda bonds ,print and lend them the euro’s to do it.

    Still no way to share via yahoo or a simple share button like ZH 🙁

  • First step for the New Order

  • jyatt7

    Im taking out all my money out of the US banks !! Im sick of this. I dont need a frigging bank! Most people should do the same. Go cash and money orders its not that hard. If people would this you would see banks get alot better. Safe deposit box with cash ! Dont use banks and go to the underground economy ! Better start thinking about it because we will all be there eventually.

    • Anne

      do not go with Safe Deposit boxes. Do a search and you will find story after story of people’s boxes being opened by the banks or govt and their belongings stolen. Also, there is an EO that says Obama and take what he wants if he deems it.

  • I said this would happen, starting in Europe. It is going to get worse. When the White House was asked about the Cyprus development they had “no comment”. When the dollar is finally undermined entirely 401k’s, IRA’s will be the first things gone after but eventually even safety deposit boxes will get looted when this starts happening in the U.S.

  • Bob

    Pull all your cash, leave just enough in your checking to pay bills. Put the balance into Gold or Silver (Physical), No paper! Get out of All paper! Including 401K, pay the penalty. You will be 10 steps ahead of everyone else!

  • Fred

    What would I do if the bastards stole my money like that? I’d go down to the bank, put a gun to the managers head and take my money, along with

    every other god fearing, patriotic and armed American..
    In the mean time I’m moving what I can out of the US
    financial system and hope to god I don’t need to use
    a gun..Because if I do, and everyone else does, there
    is going to be civil war in America.

  • Honest Harry’s Used Cars

    The banks actually, aren’t stealing anything. The government of Cyprus will have to pass a law that does this. If the government of Cyprus passes that law, then the banks will loan Cyprus more money.

    People who talk about the banks stealing money have their heads screwed on backwards.

    It’s the government that is stealing money in Cyprus, -just as it is the government that is stealing the money here in the U.S.

    Ben Bernanke couldn’t do what he is doing without tacit approval from the U.S. government.

    Get the story right. You are letting the real culprits get away when you say the banks are stealing from the people. It’s the government that is doing the stealing.

    It was the U.S. government that passed TARP, and in so doing, authorized QE1, QE2 and QE3 too.

  • If we are lucky, it will only be crying… What, you think it will only be people making a run on the banks? What about countries ^.^ >_>

  • im fine with my offshore swiss bank account thanks lol

  • John

    This website is constant hysteria. It’s message is clearly designed to reinforce paranoia and fear. Its advertisers are mostly survivalist fear merchants. Cyprus’ loss is another country’s gain. There is no secret cabal of “banksters” (meaning Jews) who meet in some dark room and plot the control of the world while rubbing their giant hooked noses.

  • ZombieDawg

    …and so the chickens come home to roost at last…
    I’ve warned people for 2 years to put their “money” into REAL assets like gold and especially silver, and just keep 1-2 months worth of day-to-day living funds in your bank account.
    Amazing how many people are now doing just that…

  • Rogoraeck

    There’s a lot of money in Cyprus banks from the Russian Plutocrats/Mafia
    So the Cyprus politicians/bankers better start wearing Kevlar undies!

  • teresa

    i told my husband 2 to 3 weeks ago to take our money out of the bank i had a bad feeling and he did so i feel a little safer now and if things get real bad and cant spend it due to there will nothing money can buy well at least the gov wont get ill burn it first amen

  • Anyone ever wondered why the IMF is called the International Mafia Fund, or the EU is called the European Unrest

  • Tim

    The bankers have just declared war on the people. Once the Cyprus experiment is done, Spain and Italy will likely be next. Eventually they will have a grand closing in America, where I’m sure they will try and take between 20-40% from US. Now it makes sense why the government is having such a hard on for banning guns and why DHS is stocking up on so much ammo. Don’t bother puting faith in any politician to help at this point, they are simply the hired muscle of the banks at this point. Time to rise up!

  • Goldmansachs

    The government have honest way and dishonest way to tax the people. The honest way is the day light robbery like in Cyprus and the dishonest way is to fade away your purchasing power by inflation over time. It is the same ending lost of purchasing power over time. So if you want to keep away from bank robbery, buy gold and keep it safe outside banking system.


    They are bucking for Revolution.
    Have’nt dealt with a bank for over a year.
    I have a credit card for emergencies with a monthly limit of a thousand dollars.
    They mess with me, they don’t get THEIR money.
    I’ve hid all my assests in the past 2 years just for the sheer purpose of keeping those thug bankers and the Government away from them.
    You can’t get blood from a stone.

  • wildflower82

    Who has money in savings here in the US? Most people live paycheck to paycheck it seems. Banks are crooks per usual.

  • None

    Its happening all over the world. In Australia the following: “Cash Crab: Inactive bank accounts to be seized – – – The government (Australia) will from May 31 be able to transfer all money from accounts that have not been used for three years into their own revenues” (The Daily Bell)

  • Mondobeyondo

    Uh-oh. Now…. may be a good time… to start searching for some … exits…

  • Mee

    Well people themselves are partialy to bkame for doing business with the banks, if you still have a bank account your looking for trouble, get out now while you can and turn your paper into precious metals. i remember my granmother telling me long ago dont trust the banks. She saw it all before, stop blaming others take control of your own lives, good luck all

  • John Hendren

    Has anybody here ever listened to Rod Class before? Google the name and
    listen to the last few shows on Talkshoe. AIB Radio. He breaks it down so anybody
    can understand what has happened to US. Learn what they did
    not teach you in the government schools. Rod Class goes after the people
    that has overthrown our Constitutional government. He takes them to
    court under the Private Attorney General act. He has four administrative
    rulings that go across the country. The police and all government
    officials work for private corporations and they can be sued personally.
    They gave up their US citizenship when they took their oath of office.
    We are being ruled by the BAR and the banks. They screwed us with the
    Federal Reserve Act 1913, and the 1933 bankruptcy. Do you ever wonder
    why all the politicians are BAR members. You will be shocked when you
    learn what his team of investigators has uncovered. You have been
    enslaved with their phoney notes that they call money that you were
    never supposed to receive. We are still under that bankruptcy and their
    little club is stealing all the natural resources from us and every
    other country.

  • John Hendren

    Has anybody here ever listened to Rod Class before? Google the name and
    listen to the last few shows on Talkshoe. AIB Radio. He breaks it down
    so anybody can understand what has happened to US. Learn what they did
    not teach you in the government schools. Rod Class goes after the people
    that have overthrown our Constitutional government. He takes them to
    court under the Private Attorney General act. He has four administrative
    rulings that go across the country. The police and all government
    officials work for private corporations and they can be sued personally.
    They gave up their US citizenship when they took their oath of office.
    The BAR and the banks are ruling us. They screwed us with the Federal
    Reserve Act 1913, and the 1933 bankruptcy. Do you ever wonder why all
    the politicians are BAR members? You will be shocked when you learn what
    his team of investigators has uncovered. You have been enslaved with
    their phony notes that they call money that you were never supposed to
    receive. We are still under that bankruptcy and their little club is
    stealing all the natural resources from us and every other country.

  • Phwano

    Wealth tax, that’s a misnomer, ‘we will make you poor tax’ would be more accurate.

  • they did the same thing to Greece. The Jewish World Bankers sold Greece worthless debt. Now they want Greece to take tax payers bailout so they can give it back to the Bankers.. the bankers win twice. We need to kick out the Jewish Governments that are siphoning the countries resources.

  • SmRt PrSon

    My idea is for all countries to forgive each others dept. Start from zero, and not to borrow from anyone else anymore. This might stop the overwhelming feeling of bubbles bursting and people fighting. But then again who am I but a bank account to take from…

  • I support a wealth tax, not a wealth confiscation. A wealth tax is a government tax. A wealth confiscation is a stealing of money to make banks whole.

  • Gordan Finch

    When everyone realize “banks” represent a risk to his or
    her savings? Cyprus– Insolvent banks stealing depositor’s money on orders from
    International Monetary Fund and European Union clearly says it all.

    “You” are next making no mistake Central Banks like the ECB will
    do whatever its takes- (Draghi’s words. That means that they will steal your
    money no matter who you are.

    The European union with its horrendous taxes is slowly destroying European

    VAT for example is 22% on all luxury goods? –Fuel cost is 3 to 4 times
    higher in the European Union than the United States, nearly £10 a gallon.

    Even food has this tax imposed; the elderly are dying in there thousands
    because they cannot afford to buy fuel to heat their home.

    There are Manufacturers who can’t afford to use even their own transport to
    deliver their goods, “because” it costs more to transport than it
    doe’s to manufacture.

    Banks and European Union is just one large group of central banks. Who have
    bought out all of the politicians in power? And now is a Cartel of Racketeering, Gangsters called Central Banks.

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