New Zealand Going For Cyprus-style Bankster Theft

RT: New Zealand depositors to face a Cyprus-style theft from their bank accounts, as the government is planning to impose a similar strategy on its banks warns the country's Green Party.

New Zealand is facing a similar bank failure to Cyprus, is likely to adopt open bank resolution (OBR), which will see small depositors lose part their savings in favour of a big bank bailout, Green Party co-leader Russel Norman said. The country’s Finance Minister Bill English supports the open bank resolution. 
"Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand," said Norman, adding that the Reserve Bank is in the "final stages" of implementing an OBR system.
New Zealand banks’ depositors will have their savings cut by a certain percentage needed to keep their bank afloat.

JP Morgan Out Of Control - Max Keiser with Josh Rosner

Max Keiser and Stacy Herbert discuss Jamie Dimon punching above his weight as a tapeworm and bragging in court documents that he, essentially, had two former Treasury Secretaries on his payroll. They also discuss investors missing out on the 'rally' for fear of 'Too Big to Jail' tapeworm-banksters being bailed out at their expense. In the second half of the show, Max Keiser talks to author, Josh Rosner, about his explosive new piece, "JP Morgan Chase: Out of Control." They discuss the London Whale as a systemic and sticking the taxpayer with JP Morgan's bad Washington Mutual debts. Source

CYPRUS: Why we should be putting Mario Draghi and the EC in the dock

Treason in Frankfurt & Brussels

The Slog: At the risky of becoming corny about the Cyprus situation in particular, and the Berlin-am-Brussels eurozone obscenity as a whole, I thought it might be helpful to point out some damning evidence of how we are witnessing dereliction of duty on a grand scale, and a wholesale rejection of the principles upon which the original EEC was founded.

From yesterday’s Financial Times:

‘The independent and unelected ECB has been a key player in all four sovereign bailouts in the eurozone, through its non-voting seat at the “eurogroup” meeting of eurozone finance ministers that hammers out such rescues; and through its role in the “troika” with the European Commission and International Monetary Fund in subsequently monitoring bailout reform commitments.’

The ECB’s answerable-to-nobody-elected-or-otherwise Mario Draghi has been completely absent from public life, and media utterances, for a disturbingly long time….during which illegal confiscation of bank deposit funds, skimpily clothed in the euphemism of tax/levy’, is about to be enacted against anyone on Cyprus who has more than €20,000 in a bank account there.

On March 6th 2013, an Italian University posted this at its site: ‘Due to unforeseen work obligations, the ceremony conferring an honorary degree to the President of the European Central Bank, Mario Draghi, has been postponed. The new date will be published as soon as possible.’

Draghi’s last appearance was at a press conference twelve days ago. Because of work obligations he has been obliged to disappear, but Cypriots are far from obliged to him for the haircut that is being reconfigured by the hour. I think he has an obligation to EU citizens to come out on the balcony and say something.

Farage: EU wants to steal money from Cypriots bank accounts + Cypriot parliament votes against deposit levy + Cyprus Crisis A Muslim Fundamentalist's View

RT: Taking the bailout model to extremes - the EU has given Cyprus an ultimatum - either force savers to save banks, or go bankrupt. United Kingdom Independence Party MEP Nigel Farage gives his perspective on the deposit theft and Cypriot parliament vote. Source

Cypriot parliament votes against deposit theft

The Cypriot parliament has voted against a revised bank deposit levy. The tax was meant to shave 9.9% off any deposits over €100,000 and has since caused uproar in the country.
Thirty six deputies voted against the proposal to tax bank deposits  in the 56-member chamber, while 19 abstained. One deputy was not present for the vote.
"The bill has been rejected," said house speaker Yiannakis Omirou, as thousands of protesters outside the parliament building in Nicosia erupted in cheers.

Fascist USA: 'Racism rampant within US police' + 'US violates international law in Gitmo'

Orwellian UK and Europe Banned Press TV: The New York Police Department's 'stop-and-frisk' policy, describing the practice as "profoundly discriminatory."

Cyprus Central Banker Says The European Project Is Dead! + This Plan to Seize Bank Accounts was Proposed Two Years Ago + UK MIC sends plane-load of cash to Cyprus for its loathed land thieving colonial troops

Joe Weisenthal: Former Central Bank of Cyprus chief Anthanasios Orphanides was on Tom Keene's show on BloombergTV this morning. In his interview, he goes off on the EU for its treatment of Cyprus, and says the European project is dying.

Below is a partial transcript provided by Bloomberg TV.
Orphanides on Cyprus bailout bankster theft:
"We are witnessing historic times. What we are witnessing is the slow death of the European Project. We are in a situation that some European governments are essentially taking actions that are telling citizens of other member states that they are not equal under the law."
"What we have seen in the last few days is a very serious blunder by European governments that are essentially blackmailing the government of Cyprus to confiscate the money that belongs rightfully to depositors in the banking sector in Cyprus. It is not clear how this can affect in a positive matter the European project going forward."
On EU making a mockery of Banking Union
"Cyprus did not have a problem before earlier blunders that were made by European governments."

Cyprus – Oh the Irony!?

By Ben Davies: In history seemingly innocuous events portend more serious outcomes – albeit we recognise them in hind(e)sight. This is the dramatic irony of history. Just as a single shot in Sarajevo, took out a largely unknown European aristocrat, Archduke Franz Ferdinand, who would have known then that the world would plunge into World War I. The Cypriot savers must have thought the authorities were being highly ironic, of the Socratic kind, when they were told they were receiving a bail-out, except it was a “bail-in”. I don’t know the Greek/Turkish for – you are having a laugh, but I bet that’s what they are saying. So what is a bail-in?
A bail-in takes place before a bankruptcy, and involves losses being imposed on bondholders, something that has rarely taken place throughout the GFC and euro crisis. In fact taxpayers (the government) have consistently bailed-out the private sector in full. The Cypriot bank rescue is no exception, except this time there is a bail-in and ironically again not of bondholders but of the depositors first. This is a direct contravention to the usual legal claims on the capital structure.
So there you have it – on Friday 14^th March Cyprus became the 5^th country to receive an EU bail-out (in), except this one was a bail-in but one with a significant and severe twist of fate. The Cypriot government in Nicosia is scheduled to vote on a EU bail-out plan which calls to extract a “tax” on bank depositors (savers) some €5.8 billion: 6.75 per cent for anyone with less than €100,000 in a Cypriot bank account, 9.9 per cent for anyone with more than that.
This is an unprecedented assault on individual property rights and every individual in the developed world should take notice, and far from stabilising the eurozone, the bail-out likely heightens contagion risk across the EU.
Why bother holding a bank account when your government can expropriate your savings?

US Banksters To US Depositors: "Don't Panic, Nothing To See Here"

Submitted by Tyler Durden: While we explained exactly why there is a possibility of a Europe-style wealth tax in the US, it appears the American Banking Association has decided to put out fires early...

While the crisis in Cyprus is a real concern for depositors in Cypriot’s banks, it has no implication for depositors in U.S. institutions. Depositors in U.S. banks are insured up to $250,000 and no insured depositor has ever lost money in a bank failure. The U.S. banking industry has rapidly returned to health with strong earnings, lower losses and significant increases in capital.

The FDIC insurance fund has over $25 billion in reserves and the banking industry – which bears all the financial costs of supporting the FDIC – pays over $12.3 billion each year to assure adequate funding.

Simply put, U.S. insured depositors are safe and their deposits are protected by a strong FDIC fund, a financially secure banking system and the full faith and credit of the U.S.

So, it seems, the basis for not worrying about US deposits is the rule of law and the deposit insurance? Remind us again what Cypriots thought they had?

Cyprus Disaster Is MUCH Bigger Than Being Reported

Jim Sinclair: “If people believe that $13 billion is the total of this bailout, they are out of their minds.  $130 billion is not the true total of even the Russian deposits in Cyprus banks.  One important Russian businessman, in his various business enterprises, would have $100 billion on deposit himself.  10% of all deposits in Cypress could be $500 billion or more because Cyprus is the banking entity for Russia, not Switzerland or Grand Cayman.

The Central Bank of Cyprus doesn't even know how big the Russian deposits are because it is held as secret at the behest of the Russians.  It is a secret banking system set up for the Russians, by the Russians, and the IMF has just taken a large bite out of that elephant.   

“People need to grasp that this is not about $130 billion.  The real dollar figure is orders of magnitudes larger than that number.  How much higher we’ll never know, but it is massive.  This is the Bank of Russia we are talking about here.  The Central Bank of Russia is for the people in Russia.  What the IMF went after here is the central bank of the Russian elite and former KGB, and the Russians simply will not stand still for that.”

The Failure of Laissez Faire Capitalism and Economic Dissolution of the West

Greg Hunter: Economist Paul Craig Roberts says massive deregulation caused all the ongoing financial problems we face. Roberts makes his case in a book titled "The Failure of Laissez Faire Capitalism and Economic Dissolution of the West." Dr. Roberts contends, "What you are looking at is a deregulated financial system, and the result was fraud, crisis and collapse. . . . The end result of financial deregulation is crony capitalism."

The Cyprus situation is meant to spread further contagion

jberni1: First we create a crisis, then we react to it. The Cyprus situation is meant to spread further contagion. It most likely will be utilized by elected and non elected representatives to stepping-up and implementing money control measures. Source

Financial Armageddon Has Started!

AJ: Alex breaks down the collusion between the EU and IMF in confiscating individuals' private wealth to ultimately seize control of economies, paving the way for years of dependency on financial dictatorship.

Pimco CEO Mohamed El-Erian told CNBC today that the decision to loot the bank accounts of Cypriot savers could blow up Europe and lead to civil unrest across the continent.

Fascist USA's National Counterterrorism Center report: urban explorers may be helping terrorists

Madison Ruppert: When the National Counterterrorism Center (NCTC) isn’t compiling dossiers on innocent Americans with no ties to terrorism and storing them for five years, they’re apparently telling law enforcement that urban explorers are actually aiding terrorists.
Urban explorers are hobbyists who – you guessed it – explore urban areas to find little-seen or ignored areas of the man-made landscape, some abandoned and some not, often documenting their travels and discoveries and posting images or other information online.
While it might seem somewhat absurd that the NCTC would put out a report (embedded below or available here) telling law enforcement that, “Any suspicious UE activity should be reported to the nearest State and Major Area Fusion Center and to the local FBI Joint Terrorism Task Force,” it really shouldn’t be surprising.
Similar reports from various entities have also said that potential terrorism indicators include most bodily movements, having certain bumper stickers on one’s car, photographing iconic buildings, forgetting items at a hotel, believing in government conspiracies and so much more that it has almost become a joke at this point.
Now the government thinks urban explorers are actually aiding terrorists by posting photos, videos and diagrams online.

True News - Cyprus Bank Thefts!

Stefan Molyneux: The Cypriot government has decided to take a more obvious form of theft by taking directly from people's bank accounts, rather than inflating the currency, which was the pre-EU strategy.