1. Record Bank Heist In Cyprus Spells An End Game For Your Wealth
2. The Great Cyprus Bank Robbery Shows That No Bank Account,
No Retirement Fund And No Stock Portfolio Is Safe
Showing posts with label Italy. Show all posts
Showing posts with label Italy. Show all posts
Tuesday, March 19, 2013
IMF, EU, CYPRUS, SPAIN, ITALY,l NEW ZEALAND - WHO NEXT?
Submitted by: Donald Hank
There are newswire reports that the majority Cypriot party will refuse to endorse stealing the people’s funds; the market’s reaction was immediate and negative.
Everyone is still running around saying “In Ben We Trust” and “This is setting up for the next move higher.”
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THE EU IN CHAOS - ITALY, CYPRUS, GERMANY ALL AFFECTED
Submitted by: Donald Hank
Infowars is not far from the truth. I opened the link at Handelsblatt and read the German-language article. At variance with the Infowars report title, Jörg Krämer, Chief Economist of Commerzbank (not a government official) says a one-time 15% tax on rich Italians would bring the Italian debt, now at 173% of GDP, down to below 100% of GDP.
At variance with the Infowars report, He did NOT call for raiding the accounts of the rich à la Cypress. However, if the Germans had their way, that would probably happen.
Anyway, this is close enough. Cypress, under pressure from Germany, has opened the flood gates to wealth redistribution in all of Europe.
Did you notice the pattern of retribution against enemies?
--In Cyprus, some commentators suggest the Russian accounts (20% of the deposits) were the target. Russia has long been at loggerheads with the EU over issues such as Middle East intervention, gay marriage, etc. A recent (still unconfirmed) report has it that Medvedev compared the EU with the Soviet Union (my UK friends often refer to it as the EUSSR).--As for Italy, Merkel (like most of the German political class) is vehemently opposed to billionaire Berlusconi, part of the new Berlusconi-Grillo blocking majority in the Senate, and she would love to see his billions taxed to hep pay down the debt Italy owes to the EU -- and hence, mostly to Germany.
Meanwhile, an unintended consequence of the German-led Cyprus bank account raid is that it may also have inadvertently caused a hew and cry for a euro exit, and maybe eventually (please God, let it be!) an exit from the EU.
Don Hank
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