The latest news from Cyprus is that they have decided on a 40% tax on any saver in Bank of Cyprus who holds more than €100,000. This is on top of the €100 limit on ATMs so any other saver has a difficult time getting to his money.
The ATM limit was imposed to try to prevent a bank run, but the latest actions seem antithetical to that idea.
In any case, the savers are losing their money. It is being taken from them in front of their eyes. This brazen theft speaks of the fragility of the banking system. All Americans should take note and decide where they want their money. In a bank protected by nothing, or in their safe protected by Smith & Wesson.
This theft isn’t as far away as you’d think, nor is it unprecedented here in the United States. Our economy is losing traction by the day and it is only a matter of time before it all implodes.
The lines at the ATMs and low grumblings have turned into something larger as banks and ATMs get bombed. This could easily happen here in the United States. How prepared are you? What would you do if this happened here?
How long could you care for your family?
As reported from this blog, the US media has ignored this story for over a month! It seems that we are getting a false picture of the enormity, or scale of this story.
That’s not just some unfounded speculation either as Media Matters has done the research to back up the claim with facts.
Their scathing report shows that the corporate media either ignored the story altogether or gave it very sparse coverage in sound bites revealing little information for over a month after the story broke.
The story just refused to die and has been making headlines in Europe forcing the US media to at least acknowledge it since.
Although manipulation of the news is of no real surprise, it should at least wake us up to the fact that there is a lot going on here, and it doesn’t just affect European economies. This was a global financial rigging of the interest rates and many many people lost their jobs and their homes due to this.
It is turning out to be one of the biggest financial frauds in recorded history and the MSM in the states is not keeping us informed on issues that impact us directly and catastrophically!
Here is a quick summary of what happened (courtesy of www.zerohedge.com):
- Rogue algo strikes number of stocks: up to 148 symbols impacted
- WFC preferred security JWF trades 4.9MM shares, and trades down more than 10%
- VZ, PEP, RSH, BBY, WFC and many more all affected
- Appears to be an auto buy program error on some issues
- An auto-sell program on other issues
But wait! There’s more!
I hate to sound like a conspiracy nut (there are a few out there believe it or not) but there have been a few reports of the stock market doing the same things right before 9/11…
Josey Wales from “Before It’s News” wrote yesterday:
Today Stock Exchange trading went off the charts with 2000% increases instantly. This is EXACTLY what happened 2 days before 911. It’s happening again!
I honestly don’t know what to make of this. I don’t want to turn into a chicken little, yet I also don’t want to ignore this data. I suppose each one of us will have to decide what this means for ourselves. Keep an eye on the market in the next few days/weeks.
There have been plenty of banking scandals, but none quite like this: Investigators and political leaders believe that the manipulation of the Libor benchmark interest rate was the result of organized fraud. Institutions that participated could face billions in fines and penalties.
Of course there had to be organized fraud behind this! There is no way this scandal could have affected this many people or have be so deeply entrenched in all of the big banks without some sort of organization to it.
I predict that very few of the “top dogs” will actually be affected by this. It is starting to look like a RICO scandal, and there will be a few mid level employees gladly falling on their swords in a vain attempt at licking boot.
When will this corruption end, and what will be the final cost?