The Beginning Of The End
The Beginning Of The End By Michael T. Snyder - Kindle Version

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  • Pat MySecret

    Well, first of all, this only affect accounts that are over a certain amount in Cyprus. Now, I’m not going to do the nitty-grittys, but I think it converts to over $100k per investor.

    • Rodster

      It’s about $120K but even so that hurts small businesses who take a 40% hit and how are they supposed to make payroll or buy inventory?

      The bigger picture is they played the Joe Schmo’s in Cyprus. Because the class warfare card was played first by going after the evil rich people. Little do they know is that first they start out at 100K euros and keep working that number down until EVERYBODY pays the bank.

  • Syrin

    Furthermore, the media have convinced the sheeple its okay to steal from others, punish success, punish saving. The real heroes? Drug addicted welfare recipients also collecting disability and food stamps. Look no further than ANY post of GARY to see the mind set that has allowed this to happen. It’s a loss of our most basic moral code that has allowed this to happen, and as I have warned people here for over a year now, when people have nothing, everything you have they will think is theirs. Watch the fights at hockey games, sales at Walmart on black Monday, post Katrina New Orleans. There will be wide spread looting, pillaging, and killing, all led by a pack of GARYS. The good news is NONE of these people are smart, prepared, and able to last a week. They will go for their ghetto rich neighbor first killing off most of their own before looking elsewhere. The great liberal purge IS coming, and it will be ugly.

    • 007

      Yep, it’s a game changer. Everyone in Europe is going to quietly start taking taking actions to protect themselves from bank levies. Everyone in Europe will gradually start taking money out of their accounts and quietly secret it away. They would be crazy not to. This will cause tremendous stress on the banks which will cause more serious bank failures.

      It won’t happen overnight. These bank failures are going to slowly accelerate over the next few months. Eventually it will hit here. It has already started. Gold and silver should take off in the next few months. So watch for that signal as the fit hits the sham.

      Even worse they can’t put the crap back in the horse now. Everyone’s faith in the security of their bank accounts has been forever fractured.

    • Ralfine

      Don’t forget the banksters.

      They always take home millions, even if they fail.

      • markthetruth

        “Forget” is the issue , Americans are being so Distracted that they have the ” Attention Span of a ANT ”

        the end…

    • WarriorClass3

      This is what happens in a democracy when more people vote to steal than to work. The welfare scum don’t care if the bankers and their governments steal billions as long as some chump change is thrown their way. If we are going to restore the Republic, we cannot do it with votes – we’re going to have to fight for it. While Americans are gearing up for war, their government walks all over their rights and no shots are fired in self defense. Having weapons does no good if you are not willing to use them. Why are there no militias in New York storming the CFR? The NY Fed? The mayor’s office? Our freedom was handed to us so we don’t know the cost. New hands are taking it away with out resistance, even though American citizens are the best armed population in the world and keep buying more weapons to the point they are backordered for years, as is ammo. Yet no action is taken. Owning a gun doesn’t make you armed, anymore than owning a guitar makes you a musician. You have to pick it up and play it. You’d better start making some music America, or it’s lights out for the freedom concert.

      • Silver Bug

        The blatant theft of Cyprus bank accounts should be all the warning that you need. They WILL steal from your bank account. Cyprus is not a banana republic, they are part of the Euro!

        http://sprottmoneyblog.com/

      • http://www.facebook.com/profile.php?id=658455790 Ross Of’TheClan Mckinnon

        It’s called Flouride!

        • WarriorClass3

          That may well be part of it, along with vaccinations, ritalin and the SSRIs mixed with GMOs.

    • markthetruth

      The funny thing is now the Fed is Worried about ” Wealth Inequality ” , Daaaaah, Like Oh Yea !!!

      the end…

    • ART

      DRUG ADDICTED, FOOD STAMP RECIPIENTS, THAT COLLECT DISABILITY, ARE THE LEAST OF THE PROBLEM…HOW ABOUT “DRUG ADDICTED”, CORPORATE WELFARE RECIPIENTS, THAT ARE DRAINING THE SYSTEM FOR A LOT MORE THAN ANY WELFARE RECIPIENT COULD POSSIBLY GET??? YOU, AND THE MAJORITY OF THEM, CORPORATE AND SHEEPLE, WILL BE WITH THE REST OF US, STRUGGLING TO MAKE ENDS MEET…A 3 PER CENT “WALL STREET TAX” WOULD SOLVE ALL PROBLEMS, DO YOU THINK ANYONE IN “YOUR CATEGORY, INCLUDING YOU”, THE SUPPOSEDLY ALL KNOWING, WISE ONE, WILL OFFER/FIGHT FOR REAL SOLUTIONS, OR WILL YOU JUST BLAME “THE SHEEPLE” FOR “THE MILITARY/UNITED NATIONS/N.A.T.O./CORPORATE TAKE DOWN OF AMERICA”??? THE ARTICLE WAS ABOUT “THE ELITE THAT CONTROL THE MONEY”, NOT THE LITTLE ONES, VICTIMS OF FEDERAL RESERVE POLICIES MEANT TO BANKRUPT AND ENSLAVE US, THAT HAVE NO CONTROL OF “THESE CROOKS” THAT ARE IN CONTROL OF THE WORLD!!!
      THE PURGE IS HERE, IT WILL BE UGLY, YOU WILL BE FINE…YOU DON’T COLLECT FOOD STAMPS, UNEMPLOYMENT, OR DISABILITY, YET!!!
      YOU ARE SO “MORAL”, YOU PROBABLY BELIEVE IN THE PHONY “ILLUMINATI GOD OF THE BIBLE”!!!

  • http://www.facebook.com/doris.jimison.9 Annette Jimison

    I am surprised that the Russians got caught off guard! That amazed me. I don’t think that the Russian mafia is going to take this well. Wonder if they will do anything about it?

    • cannuck21

      I read in Zero Hedge that branches of the two main Cyprus banks have remained open during this ‘disturbance’ so allowing the Russian Mafia to withdraw their funds. As usual it is the small people who get cheated…

    • cannuck21

      Apologies I should have said ‘branches in London & Moscow have remained open.

    • Roger Smith

      I imagine the Russians have a pretty big club at their disposal in the form of “Gazprom”. They will be smacking all of western Europe over the head with it soon.

    • 007

      Looking for a good place to invest your money. Consider purchasing life insurance policies on the Cyprus politicians that voted to confiscate the Russian mobs money. Unfortunately, it looks like a very solid investment.

  • K

    Now you can argue whether this refers to bond holders or stock holder, or account holders But it would seem the cyprus idea is more common than we thought.This is an excerpt from the Canadian Economic Action Plan 2013. “The Government also recognizes the need to manage the risks associated with systemically important banks—those banks whose distress or failurecould cause a disruption to the financial system and, in turn, negative impacts on the economy. This requires strong prudential oversight and a robust set of
    options for resolving these institutions without the use of taxpayer funds, in the unlikely event that one becomes non-viable.”

    • Stoosh

      Also, today, all six major Canadian banks were declared by the government as being too big to fail. They are “systemically important.” Crap.

      • K

        Thank-you, that was the missing piece of the puzzle.

  • RICHARD

    The average person doesn’t have 100,000 dollars in the bank so a lot of them aren’t going to worry about it, but you can bet your last dollars their going to burn everyone in the end. It really bothers me to the fact that not only the elite are taking the peoples money but the governments are letting them get away with it. It is a sad day for sure. I will take a cue from michaels last blog and what money I have left in the bank out. They will sooner or later get us to. Now I know why my grandparents took their money out of the bank and put it under their mattress.

    • Bad Kitty Cat

      I would think there are retirees with that much cash saved, to be used over the next 20 or so years. And what about retirement accounts? Those count too.

      • RICHARD

        Personally I turned my 401, and bonds into Gold and Silver about 5 years ago. I still have a good amount of money in the bank but i was referring to the average person.I am sure there are people that have that much but I don’t think as many as we would think.

    • 007

      Anyone with over $100,000 will start disbursing it between various banks. Watch people run from weak sick banks like the plague. To diversify risk, people will pull money out of the banks and buy physical gold and silver. I expect a black market gold and silver barter system to begin to flourish in Europe.

      • americalsgt

        I don’t see how that would work. If I have 100K in one bank and move half to another bank, don’t you think the government could figure that out? The Fed, the Banks, and the rest of the thieves are all in cahoots, so getting metals on the black market makes sense but not buying it where there is a paper trail. Otherwise, there would be a knock on your door at some point.

        • brian

          just pull out all together until u have just 5 dollars

          • americalsgt

            But there would still be a paper trail, and the likelihood of not being tracked would be as likely as a retirement party for a Bank of America customer service rep working a call center

    • brian

      the eleite and gov can do what they want to do but I hope the pepole will revolt and go after the supper rich I never had respect for the rich in the get go even in the navy I never had respect for officer they act like the rich snooby think they know it all and live in a fantasy world can’t wait till the day they BUrn and Burn real good

  • TooLittleTooLate

    Yes, they will change the rules, confiscate funds…. whatever they decide whether it’s lawful or not will be done.

    Stock prices go down, they ban short selling… Greece defaults and they call it a “Voluntary” default so no derivative contracts were activated… banks going bankrupt, steal customer money…. our own FED is stealing interest on anyone saving by keeping interest rates down. They’re stealing even more by devaluing our dollars.

    When things get bad, expect even more aggressive moves. ( for our own good, you know )

    • Hambone

      What I can’t figure out is why the US stock market is still behaving as though everything is business as usual. Shouldn’t this be a shock to the global economy?

      It seems we are not smart enough to learn from the misfortune of others… we have to wait until it smacks us in the nose before we learn anything.

      • TooLittleTooLate

        With HFT algorithms ( high frequency trading ) and most of the money getting into the market by big players, not small ones… the QE gets into the system first via the market. That forces the market up… doesn’t matter if everything in sight is only treading water at best. Quite simply, the FED is manipulating the market via QE distortions and easy to get cheap money to gamble with. The big players use this money to make big gambles ( at our expense if they screw up )

      • TooLittleTooLate

        The system is so rigged at this point most of the trading on the market isn’t done by individuals, it’s done by computer algorithms. It’s also done by big players that can actually push so much cash into and out of a market as they alone can manipulate the price of things…. The suppression of PMs come to mind here…. esp. silver prices.

        Look at MF Global and how our government handled that fiasco…. Corzine went to the FED’s discount window and borrowed a whole lot of money at almost zero interest and bought a bunch of repos. repos are repurchase agreements. So, Corzine bought a bunch of junk Spanish bonds from Italy who agreed to repurchase them in the future for a fixed profit for Corzine…. ( well unless the interest spikes above his profit margin )… So, Corzone goes back to the FED discount window showing a profit for the purchased repos and using that as collateral for the next FED loan at almost zero interest… see where this is going? So, he leverages himself up 30-40 times and then Spanish bond interest rates spike and, he’s out of business over night…. So, he has to pay out 1.2 Billion dollars of customer accounts to pay off Goldman margin calls and the only bagholders in this transaction were those that had investment accounts with MF Global… Corzine didn’t go to jail or spend one minute behind bars.

  • Piglet

    [If the banks open now, there will be a massive run on the bank[s],
    and the banks will FAIL loosing all of its deposits, also causing an
    economic crash.] It’s “losing,” not “loosing.” Also “the banks” is plural but “its deposits” indicates plural. Which literary scholar wrote that excerpt?

  • Piglet

    Oops! Meant to write: “Also “the banks” is plural but “its deposits” indicates singular.

  • Rodster

    When the word “rehypothication” gets thrown around, that’s when you really need to worry. There’s no question that events are picking up steam.

    I was planning on moving my business money to a credit union or a small community bank but i’m not sure those won’t be affected either.

    • K

      The Cyprus bank that failed was the second largest. The Canadian rule in my post below, also refers to larger banks. Small local banks and credit unions should be safer for now. I think we both know, nothing to do with money, is totally safe.

  • http://twitter.com/Hwt123 hwt

    The elitist first created a FOR PROFIT corporation named “UNITED STATES” in 1871
    they set up the Federal reserve to change Constitutionally sound currency into banknotes.
    thereby making every transaction unlawful
    We the people now elect the board of directors
    for the bankrupt corporation.
    What the “Citizens” do not know is that the FOR PROFIT CORPORATION named UNITED STATES declared bankruptcy in 1933
    FDR called the Governors into a secret meeting
    The Governors agreed to pledge the “citizens” as collateral for the bankruptcy
    Your birth certificate is your title , just like a car title. your birth certificate is traded on the stock market.
    The IMF handles the bankruptcy…
    Since the citizens are collateral , they no longer have constitutional rights.
    The CORPORATION uses statutes in place of law…
    the bankers lawfully own every citizen’s home , car etc & they want to take away our guns so they can take possession of AMERIKA , the bankrupt corporation…

  • Rob

    What does it mean for a bank to fail?

    The only assets a bank has is real-estate, physical plant, and accounts-receivable (loans). If the loans go bad, the only cash on-hand is deposits.

    You can close the bank tomorrow and tell stockholders their shares are worthless but the amount of cash on-hand is far less than the deposits on the books.

    So how do we let a bank fail without someone, somewhere, having to pony up?

    I’m not arguing – this is a question.

    • Ralfine

      Yes, thats what everybody here forgets. Your deposit is used to get loaned out to “investors”. That can be anyone from a businessman, a house builder to a casino player or stock player.

      The return from these loans is paid to the bankers in fixed contracts. The banksters can never lose, they always get their boni and payouts.

      Now let someone go bank-rupt. The loan will not be paid back. In order to return deposits to some the bank will take in deposits from others. It’s become a pyramid scheme. And all the time any cash available will be used to pay boni to the banksters, and if their name becomes tarnished they get a golden hawndshake with even more millions paid out for their farewell.

      Now, it is not the government taking the money of the depositors. The government is again using taxpayers money to prop up these banks so that banksters can continue to suck their boni from the cash pile.

      • Fayiza

        Yes it is ALL a big nasty ponzi scheme,and we know what eventually happens to them!

  • Sam

    Hey Michael.

    This surely is alarming. I’d like your thoughts on a few questions if I may:

    Do you think Cyprus rather than Greece will collapse first?

    Will there be bank runs in Cyprus since the government has stated it will place capital controls?

    Do you agree with Max Keiser who has predicted an economic collapse by April?

    Thank you.

    • Jodi

      Good questions, I would like to ask Michael if he thinks small banks will be targeted eventually? I have a bank account at a small bank and I just don’t know what to do.

  • Ralfine

    Dont forget, it is the banks that are bancrupt.
    The state shouldnt bailout any bank, but let them crash and hold the owners, shareholders and managers responsible.

    • Winston Smith

      They are all bankrupt.They are marking assets to
      model,not net present value,have been since 2008.
      If they had to value at reality.POOF.
      The endgame is very close now.Months not years..Its either WWII or total collapse.OR both.

  • Scott

    Michael a 40% tax on large bank accounts how is that even possible in a fractional reserve banking system unless Cyprus has different rules. I would think with most banks there isn’t enough in reserve to cover that amount. I would think such idiotic schemes could bring down the banking system. Are these people insane?

    • Ralfine

      It is not a tax.

      The government doesn’t get these 40%.

      The government doesn’t get any money out of this. Actually, it pays money to bancrupt banks so they can pay millions as boni to their banksters.

      And when the banks open, every depositor can only remove a very small amount.

  • A Dodgy Bloke

    What really surprises me is the lack of any major bank runs in Southern Europe. I moved my money out of Wells Fargo years ago to a local Credit Union but I can’t get my mom to see sense she still has her checking account at Wells Fargo. I’m worried about my 401k I think that’s what they’ll go for first.

  • Ed Edwards

    Governments will do whatever they believe they can get away with doing.

  • glamandvampallround

    I see this as a game changer in the sense that how can one have faith that playing by the rules and working hard and saving can get you anywhere? Seriously? I don;t know what the answer is but I don’t have much faith in how Western society is set up….financially especially. I have put down the glitter and makeup and am thinking about this at length and I don’t like the thoughts I am having. Things in general don’t seem very secure to me, the world is getting to be like riding on a roller coaster.

    But some good…..Every time I go shopping for food and I am buying one bag of beans and one bag of rice….just in case, as per the suggestion of someone on this board a thread back. I am also temporarily ceasing buying makeup and will be taking my savings from that and probably be buying some canned good too. It’s what I can do…..

    BTW, feels great to be without makeup! Just some jojoba oil to moisturize and there’s a good thirty dollars a week saved…..

    • Ralfine

      The best moisturizer still is water. Drink enough water and do some exercise to pump it everywhere. For every two pounds of bodyweight, drink one ounce of water every day.

    • JasonS

      Try 100% coconut oil. Semi solid. Best moisturiser ever!

  • glamandvampallround

    I remember reading in Gone with the Wind that Scarlett OHara didn’t trust banks and kept her money from running her sawmill hidden in many different places. The book said she was afraid to put the money into the bank as what was stopping the bank from pocketing the money and closing up? I think we may have things to learn from this saga of the Civil War…..I don’t see banks quite the same way after reading this about Cyprus and I don’t like the media not covering this issue very much…..

    I guess nothing really is safe then? Mavbe this is the reality that we are now facing. How do we make our peace with that and move on to make the best of things, though? That’s a tough one for me.

    • Ayn Rand

      Yeah, this is the reality. You can only trust yourself and loved ones now, and of course your supplies. As for making peace with it, just learn to survive. Get in shape, get supplies, and learn skills to survive. Start a garden, learn to live in the wild, get chickens. All of it helps.

    • Beth

      That peace thing is a struggle for me too. How can I have confident plans for the future when all around me is chaos? Try finding any good news out there! Every kind of infrastructure is in shambles; GMOs, pharms, just about everything you put on or in your body is toxic, people here in the States are going just plain nuts (parents/grandparents killing their children just about on a daily basis) and North Korea is showing the ass-end….again. My 14 year old has plans to be a Foreign Exchange student in Russia in her junior year. I really hate to say this; but all future plans of this like are tentative at best. it all depends on the stability of the world around us; and its not looking so good.
      I HATE having such a pessimistic outlook but the evidence doesn’t much support having a bright and promising outlook for the future.

    • Beth

      Couple of random thoughts: Another good re-read is “The Grapes of Wrath” by John Steinbeck, one of my favorite authors. Far-reaching and timely….for such a time as this! Beans and rice: with the thought that food could be confiscated (see Obamas Executive order signed last Mar 2012 that allows for all resources to be seized) why not get creative and make decorative throw pillows out of beans and rice? Go ahead and laugh….and yeah I know I’m nuts:) but I think this is a totally valid prep!
      One more: Rechargeable C and D cell batteries. No where to be found in stores. I find them on Ebay and have laid up a stash.

  • Jodi

    Since this crisis started, nobody in the media has said much about Cyprus & the rest of Europe. And I mean nobody. All I’ve heard for the past couple of days is gay marriage this and gay marriage that. Blah, Blah, Blah. It’s almost like somebody has pushed the button for global collapse. Let the games begin.

  • Mondobeyondo

    “Would similar things happen in the United States if there was a major banking crisis someday?”

    To quote one Sarah Palin: “You betcha!”

    You see, the federal government is desperate for money. They are professionals at squandering money, but that’s another story. What should concern you, is that they are constantly looking for more ways to cheat, connive, scheme, steal, etc. the hard working middle class out of their dollars.

    Yes, the U.S. government WILL try to take every penny of your savings from you. Don’t like it? Well, Uncle Sammy has his faithful pitbull dog called the Internal Revenue Service. Yes, you WILL pay up.

  • Rufus T Firefly

    Crash and burn, you left wing socialist Europeans.

    • JustanOguy

      Lol… exactly what I was thinking.

    • Hambone

      If only it can be contained over there… Bear in mind we have our fair share of pinkos over here as well (1600 Pennsylvania).

  • Rodster

    MARC FABER: Not Even Gold Will Be Able To Save You From What Is Coming

    “So we are creating bubbles and bubbles
    and bubbles. This bubble will come to an end. My concern is that we are
    going to have a systemic crisis where it is going to be very difficult
    to hide. Even in gold, it will be difficult to hide.”

  • glamandvampallround

    Is it just me, or has anyone else noticed that the players here, other than Angela Merkel in Germany, who looks like she just bit into a lemon every time she is photographed and had no clue of how to erase lines and aging via makeup – the players here all seem to be men? Why is that? Seriously? As a woman Im biased but I do believe women – if in these positions of power – would not do such crazy and risky things with money………

  • glamandvampallround

    And thank you Micheal for writing this – you mentioned that a small bank or credit union may be safer or at least better off as you put it. I belong to a credit union here in Arizona that is rated five stars by Bauer and they will be getting all my business from now on…..
    Thanks again and cheers!

  • Mondobeyondo

    The elite think they own us. They think they own our gold and our silver. They are wrong.

    The Bible makes plain Who is truly in possession of our riches.:

    “The silver is mine, and the gold is mine, saith the Lord of Hosts” – Haggai 2:8

    Your gold and silver – It’s not yours, and never was. It all belongs to God. He loaned it to you, to care for it (much like the original Garden of Eden)..Our original parents got an “F” on that test.

    Stop stealing from God and claiming it as your own wealth, if you don’t want to be the reciprient of His wrath.

  • Bruce

    The banks are supposed to open Thursday, It will be interesting to see what becomes of the banks deposits, I would imagine the risk is VERY high for a total run on the banks. In fact, so much might be withdrawn in a few hours that they close the banks immediately.

  • Imaplaneiac

    Back in the 1930s Uncle Scam confiscated GOLD from Americans! An Executive Order ORDERED Americans to surrender their gold; under penalty of imprisonment or a $10,000 fine ( BIG Bucks, way back then !!! ). Do a Search … to find and read that ORDER. ( Unless that was removed from the Internet!? ) That set the precedence for O-blah-ma to do something similar WHEN it becomes necessary.

  • Mondobeyondo

    I still have an 1888 Morgan silver dollar. (One of the few which hasn’t been pawned off yet. Don’t worry. I’m determined to get them all back, and then some.)

    But first things first.

    Need to find employment. And then earn enough in the first few weeks of employment, to avoid using this atrocity and excuse of a metro transit system known as Phoenix Metro .(Transit buses every 30 minutes? Mon-Fri? On a mainline route? Seriously??) Yes, they’re serious, and yes, I’ve walked there and walked that. After a few blocks, a mile is no big deal. 20 minutes max, if you’re in good shape. Try it sometime!

    Next, after I get a Peterbilt truck (okay, a Ford will do just fine), get some kind of a ride, somewhere, somehow. Even from the guys who offer you $500 down, no credit check, offer us your firstborn child, etc.)

    Oh how I miss driving. For those of you who still have functioning cars… Check the oil! Check the water: Check EVERYTHING!!!.If you hear ANY strange noise(s), take nothing for granted!

    I’m gonna get there.

    • Ralfine

      Tried a bicycle yet? Works up to 10 degrees below zero and 4 inches of snow, and doesn’t need fuel and only the water you drink. After a while 20-25km/h will be your average speed.

      I used to ride 10,000km per year.

    • Beth

      I love Morgans! I think it was in WW2 that soldiers in a bar would go in and slap down their Morgan, whoever didn’t have one had to buy the round. Looks like you’d be off the hook:)

  • piccadillybabe

    Much of the money in the Cyprus banks is Russian laundered money put there as a safe tax haven. The global financial markets are in serious trouble because the corporate world refuses to pay taxes on their money in their country of origin and so they hide it off shore somewhere. So now, they are going to tax it anyway. You can run with it but you cannnot hide anymore. They are not going to touch accounts under a certain amount. They are basically going after the bandits. It’s an attempt to keep them honest.

    • http://www.facebook.com/bt.coop BT Coop

      Your last sentence is really funny. “They are basically going after the bandits. It’s an attempt to keep them honest”.

      Yep, bankers and government going after someone to keep them honest! Too funny! How ironic!

  • John Smith

    Yeah But……
    My savings account is insured by the FDIC.
    What they don’t tell you is this very important detail…
    The FDIC can take up to 99 YEARS to pay you back!!!
    Get CASH out NOW!

  • http://www.facebook.com/people/Joe-Palladino/100001624813101 Joe Palladino

    Why do you think they want our guns? Americans will consider this the last straw.

    • Beth

      For the most part they will just roll over and take it just like they have for everything else. Actually, I think that if a major scale gun grab should happen it will be with the urging and support of MOST Americans wanting so!

  • Terri

    Are credit unions any safer? Where do you keep your cash then..

  • Dave Webb

    Perhaps the bankers that inherit from the ones who are stealing the money might have a different attitude.
    If they have indeed stolen from the Russian Mafia I really do not see them having a long life span.

    More likely they have allowed the Russians to withdraw all their funds before this event took place. That is in hopes that no one is offended that counts.
    But then you will be looking over your shoulder for the rest of what remains of your life. These people do not play by the same rules that we do. If I were a banker in an area where they pulled something like this, I think I would have reason to be afraid, very afraid of the very people that were cheated.
    My advise to them would be to take what funds I could and leave the country with no return address. I think I would aim for a country out of the main stream and I would be very careful about how I got there.

    It really isn’t a healthy thing to have an entire country mad at you. That is what I see happening.
    We say in this country not to take it personal. But where money is concerned, I think these people will take it very personal.

  • Graham

    Iceland:-

    For those who have followed the full story on how Iceland dealt with its failed banks (and bankers), I would strongly recommend savers/investors take a closer look as the country is making a good recovery after booting out the vermin. Could be a “safe” place to transfer money for the time being.

  • Ralfine

    As long as bank managers are not punished for failings but continue to get golden hand shakes, they will continue to bet your money on anything and when they fail, they take home millions.

    The best savings might still be a nice, solid little “castle” in a quiet street, with shopping, bus stop, school and doctor in walking or cycle distance. 3-4 bedrooms as long as the kids are home, easily knocked down walls to reduce to two bedrooms, once the kids are out. Doors wide enough to roll through with wheelchair, stairs wide enough to install stairlift, barrier free shower. House well insulated to save energy, possibly passivhouse standard, not needing external paid energy source for heating and cooling at all.

    Once the demand for such houses goes up considerably, the job market will pick up as well, if you dont buy these houses and components from china.

  • JustanOguy

    Isn’t it up to 40% for bank account holders that have over 100,000 euros on deposit in Cyprus banks?

    In other words… people with less then 100,000 Euros don’t have anything to worry about?

    (For now anyways.. Lol.)

  • Ralfine

    Learn to spend less than you get.

    And use the difference to support your family and friends. Gifts are always welcome. Not just any rubbish, but things that are useful and they really need.

    I pay for college for two girls in the family in the Philippines. And I gave some money to my sister so they can insulate their house, and an annual ticket for public transport for my niece, so she won’t need to resort to fare dodging and face criminal records when getting caught just for seeing friends. These are real investments.

  • germanycalling

    No damage without gain as the saying goes. Maybe Dijsselbloem has inadvertantly started the real end game, at least here in Europe. Hard to see how anybody with 2 brain cells will ever take money in a large amount to any European bank. That must mean the collapse will speed up. Time will tell

  • FounderChurch

    DIAGNOSIS=CAUSE+DISEASE+CURE+ PREVENTION! Just to describe aspects of the disease over and over in great detail is NOT a Diagnosis.

    A true Diagnosis consists of first finding the Cause, then describing the Disease it produces, and finally prescribing the Cure, then finally outlining the way to Prevent it recurring.

    Now no one, much less the sick person, wants to go through these tedious painful steps. EVERYONE wants a quick simple cure, preferably a single pill, that makes no demand on anyone. This frees everyone to keep repeating this process endlessly. The Patient is happy with the band-aid approach, the Dr is certainly happy to keep getting those fees, and no feathers are ruffled anywhere and no one needs to reform themselves or anyone else.

    JUST MAKE IT GO AWAY IS THE ETERNAL CRY!!!

    These worldwide economic troubles are a perfect example of this head in the sand approach. FACT IS: Democracy has stabbed us in our most tender spots, and we are in pain. Democracy causes government to overspend to keep the whining B**** public happy. Banks who all exist courtesy of the Government play along as long as they can make money doing it. BUT THE CHECK DOES COME DUE FINALLY, AND NO ONE HAS THE MONEY TO PAY IT.

    When are we going to figure out that an excess of Democracy is the enemy here?

    First, Democracy keeps constantly expanding itself, steadily lowering the average intelligence level of those who vote. With the result they low information voters insist on voting themselves more and more goodies.

    First they lowered the voting age to 21 from 25, then they lowered it again to 18, now there is talk of lowering it again to 16. Then what, lower it to 12, then 10, then 2? Allow dogs and cats to vote, why not, they have feelings and unmet needs too?

    Then democratic mob said let women vote, so they can vote the opposite way of their husband and cancel out his vote, or vote the same as their husband and just add duplicate votes.

    Then at every single opportunity the Democratic mob of the unwashed and small minded have made it easier and easier to vote. Somehow the idea gets stuck the head of the illiterate masses that the more people allowed to vote, somehow the better.

    There is absolutely no evidence that broadening the franchise, or making it easier to vote improves anything. It just adds more groups to demand ever more government spending to make them happy.

    So, now they are going to confiscate our bank accounts to pay off these debts. Seems a reasonable thing for the democratic mob to decide to do.

    THE CURE? Return to a very limited franchise composed of those who least need government handouts, and who have at least some net worth assets in the game. Throw in a literacy test, stiff residency requirements, and charge a sizable tax to vote, to weed out those who don’t care enough about their country to pay a fee to have a say in its governance. Short of these reforms, the only CURE is a dictatorship where you have no democracy, and that, you can bet, is what is likely coming down the pike. FounderChurch at gmail dot com

  • Jacutinga

    One of the most recent stealing of the people´s money was in 1990 in Brazil, when Fernando Collar became president of Brazil, the banks were closed one day before he assumed the Office of President and he confiscated all the money in the banks, although his friends know about it before hand and were able to get there money out of the banks in time. Since history repeats itself, if anyone is interested just check out “Plano Collar” on the internet

  • http://www.facebook.com/kevin1chew Kevin Chu

    Can anyone tell me if Canadian Banks will be safe? Simply because I’m Canadian….

    At least… Canadian banks are rated the most sound banking system for now.

  • NorthernCanuck

    Actually, that ‘Toronto Star’ article makes it clear that – under existing Basel III internationally-agreed regulations for banking – the Canadian government is actually toughening up its requirements of the banks themselves to protect depositors. Canadian banks tend to be very conservative anyway and this just makes it much less likely that they’ll require public money folr any bailout. The government is telling them in advance to absolutely get their act in order so that they won’t fail.

    Here’s the substance of the article:

    “Canada’s six largest banks will be subject to more stringent supervision and requirements designed to reduce leverage after being designated too big to fail by the federal regulator.

    The “systemically important” designation stems from the Basel committee on banking oversight, a global group that has been developing measures to prevent arepeat of the 2008 financial crisis.

    The Office of the Superintendent of Financial Institutions said Tuesday that the Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, National Bank of Canada, Royal Bank of Canada and Toronto-Dominion Bank will be required to increase their capital reserves to guard against losses.

    The banks will need to have what’s known as a common equity tier 1 ratio of eight per cent as compared with seven per cent for smaller, less important financial institutions as of Jan. 1, 2016.

    Tier 1 capital includes a bank’s outstanding common stock and cash reserves, which could be easily liquidated.

    “The measures . . . are designed to limit the likelihood that a major bank would encounter distress or failure that could negatively impact the Canadian economy or taxpayers,” OSFI head Julie Dickson said in a release.

    The 2008 financial meltdown saw the collapse of Lehman Brothers, and last-minute rescues of Merrill Lynch, AIG, and the Royal Bank of Scotland. Leverage was singled out as a driving force of the crisis.

    The most important measure of banking risk is the ratio of capital to assets, economist Edwin Dolan wrote in a blog post in response to the latest measures.

    That’s the result of subtracting the bank’s liabilities (such as deposits, interbank borrowing, and bonds) from its assets (cash, loans, office equipment and building.)

    “The smaller the ratio of capital to assets, the greater the bank’s leverage,” Dolan wrote. “The greater the leverage, the smaller the loss of asset value required to reduce capital to zero or below.”

    In November, the Financial Stability Board updated its list of 28 international financia linstitutions that were assessed too big to fail. None of the Canadian banks made the grade.

    However, OSFI said the banks are systemically important to the Canadian economy by virtue of
    their size, interconnectedness, substitutability and flexibility.

    “What governments decided is they want an additional level of protection for the banks,” said Eric Kirzner, professor of finance at the University of Toronto’s Rotman School of Management.

    “Ultimately what we care about is that the depositor is protected. That’s the goal, that the banks can remain solvent and meet their obligations. The more capital that the bank has, the greater the margin of safety against any problems that develop.”

    Canada’s big banks already maintain capital ratios that exceed the Basel requirements, which have been expected for several years.

    Barclays Capital analyst John Aiken said the announcement was expected by markets and was unlikely to affect the bank’s valuations.

    “Given the capital positions of the banks under the Basel III guidelines and the fact that the transition will have three years to be implemented, we do not believe that this will be an onerous burden for the Canadian banks,” he said in a note to clients.

    In its explanation, OSFI said a bank’s distress or failure is more likely to damage the Canadian financial system or economy if its activities comprise a large share of domestic banking activity.

    It noted the six biggest banks account for over 90 per cent of total banking assets in Canada.”

    • K

      I understand what you are saying. But notice they have 3 years to put this in place. We do not have 3 years.

  • Gman79

    Do the world a favor and take a banker fishing – and make them the bait.

  • князь истоков

    Количество и финансово-экономическая деятельность новой элиты в мировой финансово-экономической системе беспокоит старую элиту.Старая аристократическая элита наступает на новую с целью уменьшения количества.Кипр это только проверка плана аристократической элиты по глобальному уменьшению количества новой.Произойдет перестройка мировой финансовой системы во время которой многие не нужные старой элите или мешающие ей банки будут закрыты.Перед началом перестройки мировой финансовой системы во время пикирования $ Fed откажется от старых 1$ and 100$ из-за того,что большинство таких dollars поддельные.Наступление старой элиты на новую не направлено на финансово-экономические системы стран но это наступление заставит страны у которых нет аристократической элиты объединиться.

    • K

      Translation: The quantity and financial and economic activity of new elite in world financial and economic system disturbs old elite. The old aristocratic elite attacks new with objective of reduction of quantity. Chyprus it only check of the plan of aristocratic elite on global reduction of quantity new. There will be a restructuring of a world financial system during which many not necessary to old elite or banks impeding to it will be closed. Before the beginning of restructuring of a world financial system during a dive $ Fed the majority such dollars counterfeit will refuse from old 1 $ and 100 $ that. Approach of old elite on new is not directed on financial and economic systems of the countries but this approach will force the countries at which there is no aristocratic elite to be united.

  • Mustard Seed

    People are starting to get the picture. It is over. The system has failed and there is nowhere left to hide…not even for the wealthy. Marc Faber is right…not even gold will save us from what is coming.

    Hope everyone has enough food, water and protection to ride it out…for a few years.

  • Whitez

    “Move your money while you still can…”

    Easier said than done Michael – unless you shove the worthless paper under your mattress.

  • Mustard Seed

    It isn’t a haircut. It is a scalping.

    Scalping is the act of removing the scalp,
    or a portion of the scalp, either from a dead body or another living
    person. The initial purpose was to provide a trophy of battle or
    portable proof of a combatant’s prowess in war. Eventually, the act
    became motivated primarily for financial reasons; payment received per
    scalp acquired.

  • Wally

    Take a look at Yahoo stories everyday…We are being conditioned. Hey look at Joe and his family of 4 they are living just fine on very minimal income with no credit being used… Hey look at Mary she used to work in an upper middle class job now she is a Batista at Starbucks and she is so happy to be making minimum wage with not all of the hassles of stress….Hey look at Bob he just went back to school and he is so happy… Then the flip side stories that are harder to find….Recent college grads can’t get work….A recent survey shows that Starbucks employees consider their jobs stressful day to day (Which was a true article I read)…Joe and his wife are working two jobs a piece just to make ends meet…

  • disqus_tKUiAezKl2

    Are the politicians and bankers “taking a haircut”? I think/hope I will live long enough to see the world take action

  • Wally

    The things that scares about the coming financial collapse in America:

    1. Consider this: Long Island was without power for less than three days and you already had people turning violent towards one another. People complaining they had no water, food or other things. Roving gangs impersonating state utility workers getting into houses on false pretenses and robbing them. Imagine this same environment if what just happened in Cyprus happened here? No gas station, grocery store excepting anything but cash. Bank accounts gone or frozen.

    2. Every Black Friday we see endless stories of people going animal just to buy a $150 TV or Laptop. I remember reading a story about a shipping container washing up on the beach in New Jersey I believe which was filled with Frito-Lay snacks and actually fights breaking out over taking these among the people. This is all happening without lawlessness and financial collapse, just imagine what happens when the economy collapses.

    3. Lets look at Katrina: There were stories of women and girls being raped in the Superdome. There were people shooting at rescuers. There was crime and looting.

    Bottom line is prepare yourself and your family because when the economy goes so does society. Roving gangs will rule the streets. Young and old females will be raped. Home invasions, murder and worse will be the norm. There will be no 911, no one to call for help. If you live in a city like Chicago, LA, New Orleans, St Louis, Miami, NY, Etc….Get out as quick as you can when it does collapse.

    Here we are as a society more worried about Gay Marriage then N. Korea threatening our very being or the imminent war in the Middle East where chemical weapon use has already been reported in Syria or the global elite stealing money from accounts in Cyprus or the ever increasing police state America is becoming or that this government is arming the Muslim Brotherhood. The media is the proverbial hawker telling everyone “Keep moving, nothing to see here”.

    • K

      You are right in what you say. It is why I have told people, get out of the cities. If there is no way you can because of your job.Then be ready to load your vehicle with what you need, and try to get out just ahead of the crowd. Better to live in your vehicle 100 miles outside the city, than to stay.

  • http://www.facebook.com/erikcb84 Erik Christian Bergum

    Can Cyprus take money out of bank accounts from banks such as Chase Bank, Bank of America?

  • Floribama

    Michael- I am interested to know, if when we are talking about a depositor taking a haircut are we talking about cash? In the case of Cyprus did the depositor’s have cash taken or did they have other assets taken such as a portion of stock valuations or bond valuations? Specifically, I’m wondering if you were an investor in Cyprus and you had a million in stocks and bonds and say 100,000 Euros on deposit, do you still have your basic wealth in tact after the haircut?

  • http://forexstrategybuilder.com hedonistbot

    If you have a bank account over €100 000, you are part of the elite.

  • Ben

    “he has said publicly that what has just happened in Cyprus will serve as a blueprint” WRONG, he said template, and has been backpedaling ever since.

  • PJ

    The unity of a central banking system; one bank, one fiscal policy and one government (US/ european/ asian nations), is quitely coming to fruitiation. This has been planned since 1775 onwards, especially since 1914 (the league of nations i.e. UN) and every global banking group; starting with the federal reserve. The global recession(s) has been caused by major banks, luceriferian socieities, governments and investment companies, having worldwide dominion. What happened in 1929?
    How does a bank i.e. Federal Reserve, obtain power over its people and nation(s). Through causing a recession of higher tax, inflation, high unemployment, no production, worthless money, AND wars!!
    Do you really believe that your government makes the longer term decisions;for their countries?
    Observe the global pattern of events; starting with the IMF, EU, WB, US secret organisations. The use of money via paperform will disappear, and electronic chips in people’s hands will be established for buying and selling of purchases (global banks uniting together). If you do not believe me, then read the book of revelations in the bible. The technology is currently being tried in the USA.
    This has already been prophenzied over 2000 years ago. Yet it is YOUR responsibility to read, understand the biblical prophenises. The “word of God” (bible) has kept nothing secret to those, who wish to believe.
    Believe in the Lord Jesus, and ask for forgiveness for your sins.

  • Brian

    if this happens in the USA the banks and the wealthy has started civil war period!!!!!!!!!!!!! only this time no abrahm linclon to the rescue

  • Brenda Thompson

    Zachary. if you think Donna`s comment is impossible, last thursday I got a top of the range Ford after having made $8135 this – four weeks past and just over ten k this past munth. it’s actualy the easiest-work Ive ever had. I actually started 6 months ago and immediately startad bringin home minimum $83 per-hr. I work through this website,, jump15.comCHECK IT OUT

  • Awa

    So I heard the president of Cyprus warned his buddies before he agreed to steal depositors money, so essentially those responsible tranferred their wealth a few days before the robbery happened. Freaking hilarious. In a I want their heads on a stick kind of way

  • Nexusfast123

    Lets call it what it is – THEFT. Once they start this then their casino will implode. The financial system will collapse and give rise to grave consequences for us all.

  • mfenix911

    They wont do it here until they take our guns first, cuz I for one will take my money back with my ar.

  • http://www.facebook.com/people/Dennis-Marsch/100000465349159 Dennis Marsch

    Solution…get Karatbars gold account free…

  • Maria

    It is unbelievable that both Greece and Cyprus ( also a cuntry of Greek people) were hit the last years.Is it a matter of their geostrategic position ( for both of countries) or just a matter of stealing of their mineral resources? Food for thought …..More are coming and more are on the way just stay tuned…

  • http://twitter.com/JailBanksters JailBanksters

    But what would Americans do if the FDIC or IMF just decided to help themselves to your money. Continue to watch American Idol or what?. So far what the Banksters have done time are time has had no effect on general public what so ever. Some Peaceful protests, while the Banksters are laughing at them. The US Banks have already done more than Cyprus has as far as ripping people off, so what’s it going to take to make people stop watching TV?

  • Patriot Alice

    If these countries keep living beyond their means, it won’t be long before even accounts under the “Insured amount” will be “Taxed/Confiscated”..

  • Carl

    They aren’t taking anything
    from people’s bank accounts; those deposits were gone the moment the bank
    failed. There was nothing in them to
    begin with, just digital entries on book keeping database. Whittling the accounts down to the insured
    limit and then declaring the bank solvent again, saves them from actually
    coming up with the capital that they would need to cover the insured amount if
    they had gone through the legitimate process of closing the failed bank

  • Chuck

    Coming to a local bank near you.

  • Ralfine

    Just watching a documentary about the oppression in the US in the 60s or up to the 60s. Or the upcoming freedom and change, which is basically the same medal from the other side.

    All these stories about arrests, forced medical procedures, destruction of the personality of humans. Pretty scary.

  • rustyshucklfeurd

    brian: “this has nothing to do with welfare period if american compaines paid wages that can support the worker then there would be no welfare my wife bring 55k per year which in take home less then 4k per month in los angeles”

    Brian, the problem is NOT the wages paid by businesses – the problem is the crummy economy, an ever expanding government dependency class of people, the government spending trillions of dollars they don’t have and loading the debt on the taxpayer, plus you live in California which has one of the most confiscatory tax systems in the U.S. That 4K a month goes much further in other places in the country.

  • http://www.facebook.com/profile.php?id=100000633875894 Randy Townsend

    Nobody should be keeping large amounts of currency in a bank account, savings or checking. Invest it, put it into bonds (if nothing else). Keeping it in a bank account is giving money away.

  • Francis Howard

    Grayson. I can see what your saying… Benjamin`s blurb is exceptional, last tuesday I bought a top of the range Porsche 911 since I been bringin in $5578 this last month and just over $10,000 lass month. it’s by-far the most comfortable work I’ve ever done. I actually started nine months/ago and almost immediately was making over $81, per hour. I use this web-site, cloud68dotcom

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