Deal Reached for Cyprus - 40% of deposits will be stolen. Banks doing it without Parliament vote

The EU had an out where they could simply steal the money without a vote from the Cyprus Parliament.  Since the stealing of the money is not a tax, but it is necessary to save the banks,  there is no vote from the government of Cyprus for it.  It will just be done.

(Update - at the end it is now 40% of deposits over 100,000)

 FYI - I am tired of it being called a "haircut"!  Call it what it is STEALING! What bullsh** to keep saying haircut for it!  If they are going to use a body part - don't f ing use haircut - use knife to the gut and splitting it open!  It is not a F ing haircut!

An agreement was reached for them to steal 30% from the deposits of the Cyprus banks.

It appears the 'deal' to default/restructure the banks has been designed to bypass the need for parliamentary votes, since it is theoretically not a tax.

While we have little color on what kind of carnage the President of Cyprus had to accept to his fellow countrymen, the news is that :

• *CYPRUS, TROIKA REACH AGREEMENT IN PRINCIPLE, EU OFFICIAL SAYS
• *DEAL MADE AT DINNER WITH DRAGHI, LAGARDE, VAN ROMPUY, BARROSO

The terms, unsurprisingly what zee Germans wanted, are:

i) Laiki to be wound down;

ii) Bank of Cyprus to survive but with deposit haircuts, and

iii) deal would see secured deposits in Laiki moved to Bank of Cyprus.

In other words, a deal far worse then the original on proposed by the Eurogroup last week - when the banks still existed. The key appears to be the 'saving' of the insured depositors (crucial to avoid a pan-European bank run) and the crushing of the 'whale' depositors

Hitlmerk (Hitler Merkel) my name for her now.  Is behind it all.  She is Hitler reincarnated or the spawned daughter of his!  She even actually looks like him.

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Edit to add 3/25/13 - Hitlmerk's comment upon the EU/Cyprus stealing of money:

German chancellor Angela Merkel has voiced her approval of the deal. Mrs Merkel has become something of a hate figure on the island, among a population which believes she maintained a tough stance to meet her own political ends at home, where federal elections will be held in September.

I am very pleased that a solution was found and that we have been able to avoid an insolvency. I believe the agreement that was reached is the right one.

Also adding this tweet:   Cyprus is confiscating all money at borders from Wall Street Journal:
JoeWSJ Joe Parkinson#Cyprus border officials at air/sea ports searching bags and under orders to confiscate any cash sums over 10k euros.#capitalcontrols (1/2)
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This is simply disgusting!



What does this tell everyone, every where?

Get you Money OUT OF THE  BANKS!

They can twist the reason for stealing the money and just do it!  The banks feel your money in it, is actually their money.   They are allowed this through the government too.


If people don't wake up now and see the banks are allowed to steal every one's money if they want to, right out of their accounts, I don't know what will.  JP Morgan stole the money from the MF Global accounts, but that was hidden from the masses as a whole.  MSM never mentioned that sanctioned and government allowed stealing.

What is so sad about all of this too, is Cyprus was a financially healthy and prosperous country just 5 short years ago, until they joined the EU.

My open letter to the banks!  


This really is getting me going!  It shows without a doubt we are simply slaves and subhuman to those who are the 'elite' and run the world.  They want us in absolute poverty and to grovel to them for any of our needs.  They want us to slave away to pay them every dime we make.

I hope the People of Cyprus lets the banks and EU know what they think of this!

But... one condolence for me.... The Russians will get Revenge!  They Always get revenge for any wrong done to them.  It may not be tomorrow, but I look forward to the EU being taken down by the Russians.  Russian grudges and revenges are passed down from generation to generation.  I really do look forward to what the Russians will do to the EU commission members now.  Everyone involved in the stealing of their money.  It is Russian government money too.  Putin wasn't happy about 12% - Now 40%!  Seems the EU is saying F U to Putin.   But I know who will have the last laugh and it won't be the EU!

Will Russia be on a track now to stealthily take down the Western Bankers?  I sure Hope So!

They will not stop at Cyprus.  Once they have been able to steal from one country'e people right out of their accounts, they will march their way through the other countries.  Just like Hitler did, he marched his way through, taking one country at a time.  Hitlmerk is on the same path with the same goal!  Domination and slavery of the people!

All the money people saved up their whole lives - GONE in an instant due to the F ing GREED of the EU!

If you don't think if will ever happen in the U.S. or any other country, then you haven't been paying attention to how the elite think of us all!  We are nothing to them!  Take your money out of the banks and take your money out of your IRA or 401K before the banks and governments takes it!

Someone inserted this in a comment on Zerohedge about the stealing of people's money and I believe it is very appropriate and funny to put here for what they have done. This of course is about the EU elite/controllers and the President of Cyprus:




For once in my life - I am backing Russia!  I am behind Russia all the way and look forward to their future response to the stealing of their money.  It is above board Russian government money that is being stolen.  It is not just Russian mob money as proclaimed.  I believe war was just declared and this is WW3, but not using guns as the weapons.

EDIT to ADD 3/25/13 - Start a Silver Revolution - 3 minute video on why it is important to buy 2 ounces.  CRASH the BANKS!

UPDATE 3/26/13 - Jim Willie Interview about Cyprus - Inside Information. 

Cyprus in Trouble because the EU siphoned out their money. In 2008 pre Euro they were strong, healthy and Prosperous, EU forced them into debt slavery.

We all are captivated by what is happening in Cyprus and today is their D day.  They have to make a decision on what they are going to do.  The ECB has said it is cutting off all money starting tomorrow.

I have done some research and found that Cyprus use to be a very strong and wealthy country. 

 In 2008 they joined the EU and began using the Euro.  The banks only loaned out 30% of their deposits before that time and made people put 30% down for a mortgage.  They were very conservative with their banks and finances and were not affected by the 2008 crisis.  They were fiscally responsible and a very healthy and prosperous country.  

But once the EU got them to accept the Euro and become part of the EU only 5 short years ago.   They went from being prosperous and fiscally sound to bankrupt in that short amount of time. 

The EU began changing how they did business in the banks.  They purchased huge amounts of Greek bonds and loaned out more money than their deposits.   They went from fiscal soundness and responsibility to  doing as all the other banks of the EU did, thus causing debt slavery to their citizens. 

You could almost say......It appears the EU purposely committed the Cyprus citizens to become debt slaves and purposely had the banks become indebted to the ECB and controlled.  

Now the EU wants to steal everyone's money in Cyprus, when Cyprus would never be in this situation had they not joined the EU!

I believe this shows the purpose of the EU and their causing sovereign countries to be their servants and serfs of debt with a one government control.  

  

Portions:

Before joining the euro, the Central Bank of Cyprus only allowed banks to use up to 30 per cent of their foreign deposits to support local lending, a measure designed to prevent sizeable deposits from Greeks and Russians fuelling a bubble.

When Cyprus joined the single European currency, Greek and other euro area deposits were reclassified as domestic, leading to billions more local lending, Pambos Papageorgiou, a member of Cyprus's parliament and a former Central Bank board member said.

"The banks were considered super conservative," said Alexander Apostolides an economic historian at Cyprus' European University, a private university on the outskirts of Nicosia.

When Lehman Brothers collapsed in the summer of 2008, most of the world's banks suffered in the fallout, but not Cyprus's.

"Everyone here was sitting pretty," said Fiona Mullen, a Nicosia-based economist, reflecting on the fact Cypriot banks did not depend on capital markets for funding and did not invest in complex financial products that felled other institutions.

A source at one of the banks, who asked not to be named, said his institution did not have "serious problems with lending", adding that Cypriot banks typically demanded a down payment of 30 per cent for home loans, well above the average in most countries.

The rapid expansion left Cyprus with a banking system eight times the size of its national output, as its accommodative regime of not taxing foreigners' dividends and capital gains lured investors from countries like Russia.

The EBA figures showed 30 per cent (11 billion euros) of Bank of Cyprus' total loan book was wrapped up in Greece by December 2010, as was 43 per cent (or 19 billion euros) of Laiki's, which was then known as Marfin Popular.

More striking was the banks’ exposure to Greek debt.

At the time, Bank of Cyprus's 2.4 billion euros of Greek debt was enough to wipe out 75 per cent of the bank's total capital, while Laiki's 3.4 billion euros exposure outstripped its 3.2 billion euros of total capital.

The close ties between Greece and Cyprus meant the Cypriot banks did not listen to warnings about this exposure.

The banks sold down some of their Greek holdings, but then got back into the market as yields rose. "When the Germans were selling, they were buying," said Apostolides, referring to the German banks' 2011 dumping of Greek

The facts are the EU itself is the reason why Cyprus is in the shape it is in.   Some would look upon it and wonder if that was done on purpose.   A healthy country that did not have a debt problem and had stayed strong during the 2008 banking crisis..... was a threat to others?  They were added to a currency and union, thus their financial health dropped within 2 years?  

The purpose of the EU is becoming clear.  It is about control of the whole European area and control of all the people.  It is about having all the people become their servants and debt slaves.   The truth is shining through and Cyprus is proving what the EU thinks about the citizens of the world.  

 I wrote an opened letter to the banks and governments yesterday, letting the banks and governments know what I think!  

 A little extra:

 The President of Cyprus warned his friends the week before the surprise announcement of the stealing of everyone's money.  

The Cyprus newspaper did not say how much money was moved abroad but quoted sources saying the president 'knew about the possible closure of the banks' and tipped off close friends who were able to move vast sums abroad.Italian media said the 4.5 billion euros left the island in the week before the crisis.

Edit to add 3/25/13 - Deal reached for Cyprus without Parliament being allowed to vote - 40% Stealing of deposits.   EU dictatorship now. 

UPDATE 3/26/13 - Jim Willie Interview about Cyprus and inside information

UPDATE 3/28/13 - Bloomberg, an MSM finally acknowledged Cyprus was healthy before joining the EU. 

http://www.bloomberg.com/news/2013-03-27/cyprus-s-plan-b-is-still-a-disaster.html

Bailout fatigue says: “The Cypriots got themselves into this mess, and they should get themselves out. We’ll lend them a bit more, but only if we’re sure they’ll pay us back.” Cyprus didn’t get itself into this mess. It joined the euro system in 2008 with low public debt and a clean bill of health from EU governments (back then, not a word was said about shady Russians). Its banks are in trouble not because they accepted too many overseas deposits but because they bought too many Greek bonds -- an investment sanctified by international banking rules (which called such investments riskless) that was destroyed by the EU’s ham-fisted resolution of Greece’s threatened default.

Russian PM Medvedev, berates EU Chief. Moscow no warning of Cyprus levy. Russia may reduce holdings of Euro to Gold!

I had written that Putin has become the most powerful man in the world due to how the EU has handled Cyprus.  The fate of the Euro could be in the Russian's hands.  What will they do with it?   The talks between the Cyprus Finance minister and the Russians have gone no where, from all reports.   But is that simply the poker hand being played by Russia?  In the mean time the EU has set a deadline of Monday for Cyprus as the "do or die" date.  


Where does it really start getting interesting?

Russian Prime Minister Dmitry Medvedev berated the EU chief for the handling of Cyprus.  It appears, Russia was not given a warning on how the ECB planned on levying the deposits in Cyprus as part of the bail out. 

What else did he do when berating the EU chief?  He threatened to reduce Russia's holdings in the Euro.  

Now think about that one.   The highest stakes poker hand is being played right now between Russia and the Western Bankers.  The Western Bankers had thought they would be sly and get billions of Russian money.   

Besides all the Russian 'mob' money we have heard about in Cyprus.  I have found that Russian government entities use Cyprus too for their banking.   So it is not just mob money, but above board Russian government money that would be stolen by the EU.   

Portion of article linked:

Russian Prime Minister Dmitry Medvedev humbled European Commission chief Jose Manuel Barroso in public remarks on Thursday (21 March) over the EU's handling of Cyprus.

Speaking alongside Barroso at a conference in Moscow, he called the EU's original Cypriot bailout idea "to put it mildly, surprising … absurd ... preposterous."

He upbraided EU institutions for failing to give Moscow due notice of its decision.

Earlier the same say, he told Russian newswire Interfax that he is thinking of reducing Russia's holding of euro-denominated currency reserves.

In a sign of broader Russian upset, Leonid Grigoriev, an academic and a former Russian deputy finance minister, told a separate news conference that Russian money is no longer safe anywhere in the EU.

We know Russia is pissed.  Yet we are hearing nothing is coming from the talks between Russia and Cyprus.  Is that just part of the game?  The ECB is showing their desperation now by giving a time line to Cyprus.  That time line, if you think about it, is to Russia too.  Russia has a huge stake in what happens to Cyprus.   So they are all calling each other's hand and raising the stakes with those hands. 

I have been going to Cyprus online News sites and reading all the local articles besides the comments from the Cyprus people.   

But I found a cryptic type blurb in an article from the financials:

Russia is supposedly reconsidering the EUR in the structure of its gold and forex reserves in light of the Cyprus situation – an undertone threat in retaliation to European authorities’ obsession with Cypriot Russian deposit accounts.

Medvedev did not mention Gold in his berating of the EU chief Barroso, when he threatened to reduce their Euro holdings.  Yet the Forex writer has the reduction going to Gold.  Where did he get that information?  

The situation is obviously very fluid.  But Putin is not dumb and I firmly believe there is a "Plan A" on Russia's end with Cyprus, but he has to let the EU show how they are willing to steal everyone's money which will cause more panic at the Western Banks.  

I firmly believe this is the Highest stakes poker game ever played.  One hand is Russia and the other is the EU and Western Bankers.  

Questions to know who may win: 

 Who has been accumulating Gold and actually has it in hand, without leasing it out?  Then who only pretends there is gold, where there is none?  

Who is printing money to keep the fake economy going and the banks 'looking' strong?  

Who is not printing money but actually has been creating an economy without using the dollar and Western Banking?    Hint:  Russia, two years ago began getting rid of Western Bankers in the country. 

Portion (article from 2011):

 The Kremlin has driven out some of the biggest Western retail banks and now has two tanks on the investment-banking lawn,” said Eric Kraus, an independent asset manager in Moscow who previously worked as a strategist for Otkritie Financial Corp., a brokerage partly owned by VTB. “Sberbank’s arrival will make the competition nervous because VTB’s investment bank almost destroyed Deutsche Bank in Russia.”

What country has created a tight relationship with China and they now trade between each other without the dollar?  

Which China would not get involved with the Euro and bailing it out nor investing in it and it's currency has been being called a "Global Reserve Currency".  Besides the fact that China has been buying all the gold and silver it can and keeps all it mines in the country. 

Look at the big picture, connect all the dots.  What two countries (Russia and China) have forged a strong relationship with each other and have stayed out of the EU investments over all.  In the meantime the Yuan has begun trading internationally and both have doubled or more their gold holdings.  

Has the time come to let the Western bankers fall apart?  Has the time come to let Gold and Silver prices be free of the strangle hold of manipulation?  Are they ready for it?  Will this be their own surprise attack upon the Western world/bankers as the bankers tried to surprise attack them?   

So.... in looking at it all together, I definitely see who has positioned themselves for the future and thought years ahead, compared to the scrambling from one debt crisis to another and printing money to make it appear 'all is well.'   

Mind you, this is a World war being raged but it is not with guns, but hidden hands and what is in them.  

The biggest question of them all:  

Are Russia and China ready to let it all fall down?  Have they completely accumulated/ positioned to let the gold prices ride to infinity and the rest of the world burn?



Update - 3/21/13 - Germans have a Naval Port agreement in Cyprus that can be broken with 3 months notice.  Russia wants it. 

UPDATE 3/26/13 - Jim Willie Interview about Cyprus and inside information

Germany: Warns Cyprus Banks may never reopen without Euro bailout. Putin most Powerful Man in the World right now. Euro Zone will be decided by Russia.

UPDATE - 3/21/13 -   Russian PM Medvedev - Moscow no warning of Cyprus Levy - Threatens reducing Euro holdings and going Gold! 

Here is what we do know about Cyprus/Euro Zone/Russia.

The ECB, IMF and the Euro Zone Financial ministers had made the condition of the bail out for Cyprus with the bank deposit levy being enacted in Cyprus.   They knew full well the largest amount of money in the banks was Russian mafia/mob dirty money being laundered which they were attempting to grab.

The whole money stealing scheme went terribly wrong.  They did not expect it to back fire on them.  They have let the world see, they are willing to steal everyone's money in the banks for their own good.  They have revealed they are blood sucking people who will do anything to save their own asses and keep their little group together at the cost of all the people in the world.  The have shown that no one's money is safe in any bank no matter the country as they can make demands upon it.   The only reason the Cyprus people did not get their money stolen from them was due to the Russians.

No doubt due to many phone calls from the Russians (mob/mafia) that had money in the bank to the parliament members, letting them know what would happen to them and their families if they voted to steal billions from them in the banks.  The parliament members thought it best to go against the wishes of the Euro Zone and vote "No" on the levy of deposits.

But it appears the Russians were warned in the first place along with government and bank employees, as billions had fled the banks just days before the surprise announcement of the levy last Friday from those groups.   Even though there was inside information, they could not get all their money out before the levy announcement and the banks closed.

Russia is sending Naval ships for permanent deployment in the area now.  Putin has been very vocal, saying it was an unfair and dangerous for Cyprus to levy the bank deposits.   There are gas fields in Cyprus waters that Russia would like to get their hands on.

The Euro Zone caused Putin to become the most Powerful man in the world right now, in my opinion.  The Euro Zone's future lays completely in Putin's hands at this time.   I am sure they did not mean to do that and the whole money stealing scheme went so terribly wrong for them, they ended up giving the balance of power to Russia.   Remember, Russia and China are cozy with each other and they trade between themselves without using the dollar, as they swap currencies now.    China has stayed out of the bailing out of the Euro in the past, but how much skin do they have in the game?


The German Finance minister has warned the Cyprus banks may never reopen again if Cyprus does not get a bail out from the Euro Zone.

Germany's finance minister has warned Cyprus that its crisis-stricken banks may never be able to reopen if it rejects the terms of a bailout.
Wolfgang Schaeuble said major Cypriot banks were "insolvent if there are no emergency funds".

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UPDATE 12:25 PM est - Cyprus banks will not reopen until next Tuesday at the earliest.  When they do reopen, 'Capital Controls' may be in place.
I wonder how the Russians feel about not being able to get their money and afterwards only being allowed to a small part of it each day?  The Cyprus banks and parliament is in quite a predicament. They have the Euro Zone on one side and the Russian mafia on the other.  I sure wouldn't want to be a politician in Cyprus right now.  I am sure many of the parliament members wish they were not at this time either.  
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The Finance minister for Cyprus tried to resign and instead is up in Russia right now, having discussions about Cyprus and Russia's future together.

Russia at the moment has won the poker hand against the Euro Zone.  Their hand was called and Russia ended up having a Full House compared to EZ's straight.  The game is still being played so we don't know who will actually walk away winning and if Russia has a Royal Flush to win it all.  I would bet any Russian hands played against the Euro zone will have to have China's approval too.

Even the small country of Cyprus leaving the Euro would be a major blow, with the house of cards falling down.  At all cost the Euro Zone can not allow that to happen.

Nigel Farage told everyone to get their money out of the banks, yesterday and the Euro Zone would do anything to keep their currency going, including stealing everyone's money.

Here are my questions and what we don't know at this moment:

Will Russia completely bail out Cyprus and be their 'savior' by making agreements with them for their gas fields and a Naval port, thus giving them the money they need for their banks to reopen?


Does Russia want Cyprus to stay in the Euro?  Is it to Russia's advantage to have Cyprus stay with the Euro Zone or would it be better for them to go back to their previous currency (pound)?


Could Russia get their ultimate revenge upon the Euro Zone, who wanted to steal their money by the billions from their bank accounts and help Cyprus leave the Euro Zone and once that happens the Euro Zone collapses?


Would Russia benefit from a Euro Zone collapse or do they benefit more from the Euro Zone staying together?


What are China's thoughts on the Euro's future, how much do they have invested in that future?
One thing I have noticed: not one Chinese online news site has mentioned Cyprus this week, which I have found very odd.


The status of the Euro has now just been handed to Russia and it will actually be Putin's and Russia's decision of what happens.   Putin can thank all the Euro Zone ministers, including Merkel and Bernanke for making him the most powerful man in the world, in my opinion.

Think about it.... Russia/Putin can literally take down the Western Banking world at this point.  Do they push Cyprus to leave the Euro Zone and finance them or help them stay in the Euro?  House of cards fall for the bankers if they leave. 

What I have read is, once you have crossed the Russian Mob, they will get their revenge no matter what, even if it is years away.  They continue their revenge handed down for generations.


The Poker game is continuing.  Who will blink now?  Who holds the strongest cards? I know if I was betting on the game who I would be backing.

Here is an interview that Jim Willie (Hat Trick letter and Golden Jackass) just did on the 13th of March.  He said the Euro Zone would blow from a small to medium bank going under at around the 25 min mark .  Must listen to interview.  He has hit it on the head and has gotten the prediction completely correct!





Update 3/21/13 - Germans have a Naval Port agreement in Cyprus that can be broken with 3 months notice by Cyprus.  Russians want it. 

UPDATE 3/26/13 - Jim Willie Interview about Cyprus and inside information