Could it happen here ?
http://uk.finance.yahoo.com/news/cyprus-bailout-savers-lose-money-135204923.html
http://uk.finance.yahoo.com/news/cyprus-bailout-savers-lose-money-135204923.html
Savers to lose money in EU bailout
- Thread starter onecog
- Start date
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These countries still vote for pro EU parties.
So they get what they deserve, and those b8strds will get away with it as long as they want to.
If the Cypriot bank ing system is bankrupt, somebody's got to pay to bail them out and keep them going. It did happen here, and you paid for it, as a taxpayer, and will continue paying for it for many years to come. I don't know if that is necessarily better or worse than paying for it in one lump.
Over here there is a big overlap betwen the people who pay tax and the people who have money in the bank.
the UK banking system was bailed out by the taxpayer, but some Mediterranean islands have fewer taxpayers who pay tax, so they're taking the money from the depositors instead. Some of the depositors might be tax exiles or offshore gangsters or tax evaders. There are stories that it is a haven for money-launderers. So the people with the money in the banks aren't taxpayers. There is a lot of resistance in the Euro community to giving the banks heaps of money to bail out the non-tax-paying gangsters and money-launderers.
Greece also has a problem with getting its citizens to pay tax.
As UK banking customers, we are continuing to bail out the UK banks by helping them build up huge profits. We do this by depositing money at 0% or 1% interest, and paying them 24% or more interest on our credit card debt. They'd get you either way.
There is a suggestion that Cypriot depositors have previously been receiving interest gross, without deduction of tax.
If the Cypriots don't put their hands in their pockets to chip in, say, a quarter of what they need, it's unlikely that the other European countries will chip in the other 75% (and probably never get it back). Would you?
It might be unfair to throw blame at the European community which is offering to throw huge amounts of money at these bankrupt nations, just because they insist that the bankrupt nations chip in towards their own salvation as well.
If your next-door neighbour went bankrupt, perhaps you would be kind enough to make him a loan or a gift, but would you do it if he refused to get a job or cut down on his drinking and gambling, or to sell his racehorse?
Norcon asks "how much longer will people sit idly by and let these barstewards get away with..."
what, get away with ...giving vast amounts of money to bankrupt nations? On condition that they chip in themselves? Those barstewards
Over here there is a big overlap betwen the people who pay tax and the people who have money in the bank.
the UK banking system was bailed out by the taxpayer, but some Mediterranean islands have fewer taxpayers who pay tax, so they're taking the money from the depositors instead. Some of the depositors might be tax exiles or offshore gangsters or tax evaders. There are stories that it is a haven for money-launderers. So the people with the money in the banks aren't taxpayers. There is a lot of resistance in the Euro community to giving the banks heaps of money to bail out the non-tax-paying gangsters and money-launderers.
Greece also has a problem with getting its citizens to pay tax.
As UK banking customers, we are continuing to bail out the UK banks by helping them build up huge profits. We do this by depositing money at 0% or 1% interest, and paying them 24% or more interest on our credit card debt. They'd get you either way.
There is a suggestion that Cypriot depositors have previously been receiving interest gross, without deduction of tax.
If the Cypriots don't put their hands in their pockets to chip in, say, a quarter of what they need, it's unlikely that the other European countries will chip in the other 75% (and probably never get it back). Would you?
It might be unfair to throw blame at the European community which is offering to throw huge amounts of money at these bankrupt nations, just because they insist that the bankrupt nations chip in towards their own salvation as well.
If your next-door neighbour went bankrupt, perhaps you would be kind enough to make him a loan or a gift, but would you do it if he refused to get a job or cut down on his drinking and gambling, or to sell his racehorse?
Norcon asks "how much longer will people sit idly by and let these barstewards get away with..."
what, get away with ...giving vast amounts of money to bankrupt nations? On condition that they chip in themselves? Those barstewards
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Norcon
You are ignoring the fact that the EU is providing billions, to bail out the Cypriots, on the condition that the Cypriots (and of course the Russians, who put about half the money in the Cyprus banks) chip in a fraction themselves. How do you determine which of the accountholders are hard-working, by the way?
So without the EU throwing in most of the cash, the banks would have gone bust, and the savers would have lost most, maybe all of their money.
And that would be preferable because?????????????
You are ignoring the fact that the EU is providing billions, to bail out the Cypriots, on the condition that the Cypriots (and of course the Russians, who put about half the money in the Cyprus banks) chip in a fraction themselves. How do you determine which of the accountholders are hard-working, by the way?
So without the EU throwing in most of the cash, the banks would have gone bust, and the savers would have lost most, maybe all of their money.
And that would be preferable because?????????????
So you think stealing money from savers is going to prevent the banks going bust.
How quaint.
A bank near me handed its deeds over to a customer because they couldn't pay him his dues. Which was nearly a million quid.
Well they had probably run out of gold bars nearly a 100 years ago.
Thats how it should be. Every banker in the land should be hunted down and their property handed over to its rightful owners in a banking crash.
Thats what the bank does to you when you don't pay.
How quaint.
A bank near me handed its deeds over to a customer because they couldn't pay him his dues. Which was nearly a million quid.
Well they had probably run out of gold bars nearly a 100 years ago.
Thats how it should be. Every banker in the land should be hunted down and their property handed over to its rightful owners in a banking crash.
Thats what the bank does to you when you don't pay.
Here's a little phrase people ought to become acquainted with...
Fractional Reserve Banking...
In broad terms, if everyone turned up at their bank at the same time and demanded their dosh they'd be VERY lucky to get 10% of what they thought they had deposited...
Unless of course ALL nations decided that the PRIVATE banks themselves should go bankrupt and not pass on the debt to ordinary people...
This is an approach of course that the IMF (aka International Mother F*ckers) describes as 'unusual', but one which a certain North Atlantic Nation has adopted and which has been shown to be a way out of bank led financial slavery...
Fractional Reserve Banking...
In broad terms, if everyone turned up at their bank at the same time and demanded their dosh they'd be VERY lucky to get 10% of what they thought they had deposited...
Unless of course ALL nations decided that the PRIVATE banks themselves should go bankrupt and not pass on the debt to ordinary people...
This is an approach of course that the IMF (aka International Mother F*ckers) describes as 'unusual', but one which a certain North Atlantic Nation has adopted and which has been shown to be a way out of bank led financial slavery...
So your preference is that the scheme is rejected, resulting in the banks collapsing, and the savers losing most or all of their money.
You're barmy.
The EU are going to traipse into "your" bank on Monday with wheelbarrows full of cash to help prop it up. Are you going to knock their heads off? Or are you going to try to insist that they should bring yet more barrowfuls of cash so that they bear the entire cost? Because they won't.
You're barmy.
The EU are going to traipse into "your" bank on Monday with wheelbarrows full of cash to help prop it up. Are you going to knock their heads off? Or are you going to try to insist that they should bring yet more barrowfuls of cash so that they bear the entire cost? Because they won't.
My preference is that money is not stolen from savers and thrown on a bonfire for that is surely what this act of robbery is all about.
Your dead right I will if I learn the money was stolen from savers.
I don't give a hoot about my bank. I help pay their wages so I decide if I stay there or not. They need me more than I need them.
Your dead right I will if I learn the money was stolen from savers.
I don't give a hoot about my bank. I help pay their wages so I decide if I stay there or not. They need me more than I need them.
it's your weird idea to blame the EU.
What sane person would blame the people who are providing the money to save the Cypriots?
The EU is coming to the rescue of these collapsing Cypriot banks by shovelling billions into them. The Cyprus government can't afford to do it.
What sane person would blame the people who are providing the money to save the Cypriots?
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