where mortgage payments are apparently optional by Matt Phillips Among the many nasty side-effects of the European debt crisis, bigotry’s return to pleasant conversation may be the least-commented upon, and the nastiest. Granted, few actually say Germans are power-hungry, scatologically-obsessed skinflints. And it’s only usually hinted broadly that Spaniards are hot-blooded, undisciplined spendthrifts; and Greeks shiftless tax-dodgers. Those people, you […]
132 companies pull out over $900mn in deposits by Russia Today One hundred and thirty-two companies reportedly had inside knowledge of Cyprus’ impending levy tax as they withdrew deposits worth US$916 million in the run-up to the bailout deal. The companies withdrew their savings in the two week period (between March 1 to March 15) leading up to the rescue […]
The Diabolical Bank “Bail-In” Proposal. Is the Cyprus Bank “Bail-in” a “dress rehearsal” for things to come? Is a “Savings Heist” in the European Union and North America envisaged which could result in the outright confiscation of bank deposits? by Prof Michel Chossudovsky In Cyprus, the entire payments system has been disrupted leading to the demise of the real economy. […]
Debt-serfdom and the dominance of Financial Power are two sides of the same coin by Charles Hugh-Smith Let’s be clear about three things: 1. Too Big to Fail financialization is the metastasizing cancer that has crippled democracy and capitalism. 2. Financialization feeds on expanding debt and cannot survive without it. 3. Debt is serfdom. I have covered this in depth for […]
If the suffering, yet docile, Cypriot serfs thought deposit confiscation would be the end of their problems under the European feudal system, they are about to be shocked by Zerohedge. Because as part of their banking sector bailout, the country is set to get a “loan” from the Troika, a loan which comes with a Memorandum of Understanding, aka a […]
Transferred Tens Of Millions To London Days Before Deposit Haircuts by Zerohedge A day after former Cypriot President Vassilou was found to be among many elite Cypriot (politicians and businessmen) who had loans written-off by the major (now insolvent) banks; it appears the rot is far fouler than expected. In a somewhat stunning (or purely coincidental) revelation, ENETEnglish reports that […]
Why Is Socialism Doing So Darn Well in Deep-Red North Dakota? by Les Leopold North Dakota is the very definition of a red state. It voted 58 percent to 39 percent for Romney over Obama, and its statehouse and senate have a total of 104 Republicans and only 47 Democrats. The Republican super-majority is so conservative it recently passed the nation’s […]
A Furious Cyprus Begins Investigating Who Breached The Capital Controls by Tyler Durden, Zerohedge On Monday we reported the very disturbing news that despite the ongoing liquidity blockade, capital controls and (somewhat) closed Cyprus banks, one particular group of people – the very same group targeted to prompt this whole ludicrous collapse of the island nation – Russian Oligrachs had found […]
Documentary by Bill Still The Secret of Oz won best documentary of 2010 at the Beloit International Film Festival. It won the Silver Sierra Award for Excellence in Filmmaking at the Yosemite Film Festival. It won the Award of Merit at The Accolade Competition in La Jolla, California. It won the Silver Screen Award at the Nevada Film Festival. It’s […]
The Confiscation Scheme Planned for US and UK Depositors by Ellen Brown Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that […]
The Battle of Cyprus The Battle of Cyprus by Ellen Brown If these worries become really serious, . . . [s]mall savers will take their money out of banks and resort to household safes and a shotgun. – Martin Hutchinson on the attempted EU raid on deposits in Cyprus banks The deposit confiscation scheme has long been in the making. […]
Grillo’s Populist Plan for Italy by Ellen Brown Default on the public debt, nationalization of the banks, and a citizen dividend could actually save the Italian economy. Comedian Beppe Grillo was surprised himself when his Five Star Movement got 8.7 million votes in the Italian general election of February 24-25th. His movement is now the biggest single party in the […]
