Sunday, March 24, 2013

CYPRUS BAILOUT -- 40% TAX ON DEPOSITS

 

Cyprus, Troika Reach Bailout Deal -- WSJ


Cyprus and its institutional lenders have reached a bailout deal, according to reports citing European Union officials.
As part of the agreement the country will impose a 40% haircut on Bank of Cyprus depositors holding more than $129,760 in their accounts, Agence France Presse reported. The deal followed a weekend of tense meetings between Cyprus and the Troika -- the European Commission, the European Central Bank and the International Monetary Fund -- to reach a deal before a Monday evening funding deadline.

Friends, given the government we have today, this could well be a model for the USA. Probably seems far-fetched for many, especially those of you who are left leaning and support the current administration. It will baffle me for the rest of my life that thinking people  can support Obama and those he appoints when he promotes all the policies that have brought Europe to a disastrous state....bankruptcy and more. Think about Obama seeking unlimited debt ("no debt ceiling"). What is his intent??

Oh, maybe "thinking people" is oxymoronic for too many. Truth can hurt.


SYRIA -- CHEMICAL AND BIOLOGICAL WEAPONS?


WHAT CHEMICAL/BIOLOGICAL WEAPONS DOES SYRIA HAVE?

It's possible that Syria has access to chemical and biological weapons, the so-called WMD's, that Iraq "didn't have."  While it has been accepted in all the western world that IRAQ did not have the WMD's that  intelligence agencies of several countries had reported, it's possible we will find that their original reports were correct. Probability of doing so? Don't know! But information I received during the run-up to the Iraq war compels me to think of the possibility.

During the run-up to the Iraq war, I received a report from a major British news source that chemical/biological weapons were trucked in tractor trailers out of Iraq into Syria. They showed pictures of the trucks, going across a bridge into Syria. However, no contents of the trucks were shown, of course.

I turned the information over to our very competent newspaper publisher and asked him to have his sources investigate it and authenticate the information if possible. He, in turn, consulted with a respected and knowledgeable person who was Director of International Studies at a major college and was well-connected politically. In fact, he soon thereafter was appointed to an ambassadorship.

The gentleman made some inquiries over a few days and reported to us that he found reason to believe the information was authentic, well-intentioned, and possibly correct. During this period I was also informed that some of the weapons went into the Bekaa region of Lebanon. No proof, however.

Later, Georges Sada, a senior officer for Hussein, wrote a book and asserted virtually the same. He was interviewed and maintained his assertions, but he was quieted rather quickly. Frankly, I don't know more details and do not know why he was deliberately shut down....or even if he was. But, today as the news from Syria gets more ominous day-by-day with thoughts that Assad is using chemical weapons, I am, once again, compelled to think about the news I got in 2003-2004.

What's the truth? Will the news agencies find it? Doubtful! There is too much "intellectual" (which I use loosely) and political capital invested in the "NO WMD's mantra to impugn those who asserted there were....Bush and Cheney especially. Maybe a new truth will come out.

Friday, March 22, 2013

CYPRUS' FINANCIAL PROBLEMS -- ANOTHER PERSON'S VIEW - LINK BELOW


CYPRUS -- WHEN WILL AMERICA FOLLOW?


The link below supports what I have been writing about the Cyprus financial crisis with focus on how the Cyprus/EU/BIG BANKS financial dilemma may relate to America and our financial state, including subterfuge in how our data are reported. Most data coming from government are deliberately invalid -- employment, inflation, debt and more. Americans must wake up and realize the truth about the national condition and what the current government policies are doing to traditional America. The Obama administration is well on course to transform traditional America to a Socialist/Marxist state looking like the EU PIIGS and worse. Most Americans are oblivious to this. That's Obama's goal -- or worse. It's time to recognize it for what it is.

http://www.jewishworldreuview.com/0313/ahlert032213.php3

CYPRUS -- LATEST ON CASH CONFISCATION


Uninsured Depositors in Cyprus's Laiki Bank Face Hit

Uninsured depositors of Cyprus Popular Bank, also known locally as Laiki Bank, could lose up to 40% of their savings if the government proceeds with a proposed restructuring plan as part of efforts to unlock aid from international lenders, European and Cypriot officials with knowledge of the plan said.
The bank's resolution would reduce by 3.6 billion euros ($4.65 billion) the 5.8 billion euros that Cyprus has been asked to raise on its own to secure a 10-billion euro bailout from the euro zone and the International Monetary Fund, another official said.
The Cypriot government rushed to parliament late Thursday a range of draft bills regulating the resolution of banks and introducing restrictions on financial transactions to stem potential outflows once the banks reopen. One of the officials said these measures could be in place "for months."

I AM CONTINUING TO POST INFORMATION ON THE CYPRUS FINANCIAL CRISIS AND THE GOVERNMENT'S ATTEMPTS TO CONFISCATE CITIZEN'S CASH TO MEET REQUIREMENTS OF AN EU BAILOUT. I UNDERSTAND THAT MANY, IF NOT MOST, READERS WILL THINK THAT WHAT HAPPENS IN CYPRUS IS NOT IMPORTANT TO AMERICANS. BUT, IT ABSOLUTELY IS. THE OBAMA ADMINISTRATION AND DEMOCRATS ARE DRIVING THE USA TO THE SAME FINANCIAL CLIFF. WHILE THE MEDIA AND OTHERS WITH ABUNDANT PRINT INK  AND LOUD MEGAPHONES RAIL ABOUT "OBSTRUCTIONIST REPUBLICANS" BLOCKING DEMOCRATIC AGENDAS, FACT IS THEY ARE ATTEMPTING TO REVERSE THE OUT OF CONTROL SPENDING OF THE PAST THAT HAS BEEN ELEVATED BY OBAMA POLICIES TO LEVELS THAT WILL BANKRUPT THE USA. PLEASE SUSPEND PREJUDICES AND RESIST MISINFORMATION FROM THE LEFT MEDIA AND LOOK AT THE FACTS. OUR SPENDING AND BORROWING IS ALREADY CRITICAL. AND OBAMA WANTS UNLIMITED DEBT.

Thursday, March 21, 2013


Cyprus Plans Bank Restructuring to Save Rescue -- WSJ

The Cypriot government was preparing a bill Thursday night to restructure its second-largest lender, Cyprus Popular Bank, in a last-ditch bid to unlock aid from the European Union and reopen the nation’s banking system.
Cyprus was also planning wide restrictions on financial transactions when the banks reopen. The proposals would allow authorities to restrict noncash transactions, freeze check cashing, limit withdrawals and even convert checking accounts into fixed-term deposits.


MY VIEW
It would appear that, while a bloc of parliament abstained from voting to tax all bank deposits for an EU bailout of bankrupt Cyprus, effectively stopping the taxing efforts, the government now intends to take control of bank customers' accounts. The rationale for this is not quite clear to me. However it's compelling to think that the government is still hellbent to take control enough cash to back the EU in Brussels to bail out the insolvent country. But this isn't important tp Americans! Right?

Wrong! I'll continue to remind myself and everyone I can reach that the policies of the Obama administration are rapidly putting the United States in a situation similar to Cyprus as well as all of Greece and the others of the EU PIIGS. The speculations that government has its focus on retirement accounts and how to get money from them now instead of waiting to tax the funds upon retirement. This would, of course, abrogate the laws under which the 401-Ks etc. were established. Deferring taxes on some income until retirement has been one of the best bits of legislation promulgated. But, with the voracious appetite of the government for taxes, which Obama has raised to level never before contemplated by traditional presidents, these programs all are in jeopardy. Unfortunately, as I write this I must remind myself that 50+ % of Americans don't seem to care and don't even know what is being done to them, their own futures and especially their progeny. The America that Obama wants is not the America we have known!

Tuesday, March 19, 2013

News Alert

Cyprus's Parliament Rejects Bank-Deposit Levy

Cyprus’s Parliament voted against a bank-deposit levy, part of a bill required to secure an international bailout for the country and avoid default. After a debate on the divisive tax, lawmakers from Cyprus's Democratic Rally party, headed by President Nicos Anastasiades, said they would abstain from a vote, a move that secured the rejection of the plan.

My view:
Please know that this is not the end of the effort to tax the people of Cyprus. I would be sure others of the EU PIIGS will consider similar plans and Cyprus to still find a way to raise the revenue they desperately need to pay down debt and/or pay for a bailout.

Some expect Italy to be next, but in my opinion, Spain will be the next and Portugal to follow. This is the ugliness of Socialism, Keynesian economic government actions, depressed GDP and public service union excesses.

If you think it cannot happen in the USA, think again. It won't be immediate, but with the government being built by the Obama administration, it will. If he gets unlimited debt, as he wants, it will happen sooner than later. Unbridled spending, not just Keynesian economic policies but the most ignorant economists ever in any administration, the push for service unions and policies that portend low GDP forever will put the USA in the same condition as the PIIGS. We're close already!

Sunday, March 17, 2013

TAXATION OF CYPRIOT'S BANK ACCOUNTS WITHOUT VOTE OF THE PUBLIC

For those who believe Obama's, Pelosi's and Reid and the whole Obama cabinet's contention that deficits and total national debt are unimportant read what has just happened in Cyprus -- confiscation of citizens' bank accounts without notification and without a vote. If you think it can't happen in the USA, you're in denial -- 50+% who elected Obama will probably be so.
FROM ERIC OF VA

I BELIEVE THIS IS A VERY IMPORTANT SIGN FOLKS! WHEN WE GO BACK TO WORK ON MONDAY THERE WILL BE A LOT LESS TRUST OF BANKS AND A LOT MORE FEAR!
CYPRUS........WITH NO WARNING OF ANY KIND!

Get your money out of the banks. Due to an “emergency deal reached today in Brussels”, a one-time 9.9% tax is to be levied on Cypriot bank deposits of more than 100,000 euros effective Tuesday, March 19.

With no warning of any kind, the emergency tax deal was imposed on the people of Cyprus without vote or debate. People ran to ATM machines today only to discover that the taxed amount of their cash had already been frozen.

Monday in Cyprus is a national holiday, the first day of Greek Orthodox Easter.

Nor is this emergency only inflicted upon the so-called rich as even deposits under 100,000 euros will now be taxed at 6.7%.

“If it can happen in Cyprus, it can happen anywhere,” worried British correspondent Anna Grayson in an overseas telephone call today.

Is this why the U.S. Department of Homeland Security has purchased millions of hollow point bullets, is this why rumors of an underground bunker being built for Obama are circulating?

The bottom line of the Cyprus story is that politicians are forcing a new 10 billion euro bailout—to be paid directly from the bank accounts of ordinary people.

The people of Cyprus, most of whom never saw this coming, never had a chance. Without social media they would not have known their accounts were frozen as of today.

People poured into the streets, making a run on ATM machines. A crowd of around 150 protesters massed in front of the presidential palace late in the afternoon at the beginning of the three-day religious holiday on the island.

Cyprus is the fifth country to seek a bailout following Greece, Ireland, Portugal and Spain but the terms of the deal are a radical departure from previous schemes.

No one will escape the bailout deal which will apply to everyone from pensions to Russian oligarchs, who are alleged to have billions stashed away in what officials claim is a bloated Cypriot banking sector.

The blueprint laid by cunning EU Socialist finance ministers comes at a time when the USA is being led by a Socialist president.

This is how the EU robbed the people of Cyprus:

Banks first cooperated with the EU by sealing off the amount of the proposed levy—a 6.75 percent tax on deposits under €100,000 and 9.9 percent on those above —making it impossible for depositors to access their full amount. The only means bank customers have left is the ability to draw from the rest of their funds via ATM machines this weekend. Many depositors made their way to the machines on Saturday to drain their accounts.


But the few banks that opened on Saturdays did so only briefly, and no international transfers will be able to go through until Tuesday, with Monday being the holiday. Cyprus’ Parliament is expected to meet Sunday to pass the required legislation., or after the deed was done. The deal also needs the approval of several eurozone parliaments; at the time of writing it was unclear how fast they can act and what will happen to bank deposits in the meantime.

What’s happening in Cyprus should send a chill over the entire world.

Politicians working with complicit big banks need no rule of law; no parliament debates to close in on the bank accounts of average people.

ON MONDAY MORNING PEOPLE EVERYWHERE, WILL BE WONDERING IF THE FOLLOWING IS GOOD ADVICE;

Get your money out of the banks wherever you are, and do it as soon as possible.

Friday, March 8, 2013

PROBLEMS POSTING ON THE BLOG


Friends, I have had some problems with posts being too dark to read with some readers but not all. We have no problems with our computers, desktops and laptops, or with our handhelds.

I have much to write about and will try to get on with writing tomorrow. If anyone has the problem trying to read the posts and can alert me, I'd appreciate it very much. Shouldn't  be so mysterious, but is.Thank your for your patience, for your loyal readership and for any feedback you give.
JAM


Tuesday, March 5, 2013

NANCY PELOSI -- CUTTING HER PAY AFFRONTS HER DIGNITY


NANCY PELOSI DOESN'T GET IT -ARROGANT


Nancy Pelost (D, CA), former Speaker of the House of Representatives, avers that to cut Congressional pay affronts her dignity. Really! What dignity does she have in mind?

Was it dignified to charge taxpayers millions of dollars for expenses, including air travel even for relatives, not to mention liquor, while “serving” as House Speaker?

Was it dignified to announce that the “Affordable Care Act” would have to be “passed before we could find out what was in it?” And, was it dignified to call the act “affordable” and that every American would be insured, or that it would reduce costs when the opposite is true?

Was it dignified to call Tea Party Activists “Astroturf,” not grassroots, hence not authentic Americans?

Was it dignified, while House Speaker and seated behind President Obama at the “SOTU,” to jump up idiotically like a jack-in-the-box and cheer like an infatuated schoolgirl at almost any comment that the president made? Where is the dignity in such childish behavior in the halls of congress?

Where is the dignity, honor or honesty in claiming not to raise taxes on lower income earners (aka “middle class”) while doing exactly that. How dignified is it to raise FICA tax (Social Security) for people struggling to make inadequate earnings pay critical bills, such as medical expenses? Unfortunately, I am very close to some in just that position. It's devastating, but Ms. Pelosi, a very wealthy person, and has no concern for those people.

How dignified is it to pay that Social Security as SSI to people who never contributed a dime and do not work. How dignified is it to pay young women for birthing babies with no
baby daddy” to support them? And how about others who feed at the trough having contributed nothing.

Where's the dignity or honesty in raising the SS tax recently while the general fund owes the SS trust fund $5 Billion, which Pelosi and others, of course, have no intention to pay back. Pure subterfuge!

Where's the dignity in claiming to fight for the lower class while doing just the opposite?

I could go on, but why? Ms. Pelosi is not about to respond to any criticism, hasn't yet.

Ms. Pelosi, your arrogance and your ignorance are fighting for 1st place in your character – or lack of it.