The Cyprus the EU and HUGE warning to the US

There are some very frightening aspects to the horrific decline of the Cypriot economy and reputation. I visited the Island almost 15 years ago and even played Rugby against the RAF team based there. It was truly an idyllic, blessed, historic and welcoming place. It had the Cypriot Pound, which were worth about $3 US but a Pint of excellent beer was C£0.50 and a 3 course meal C£.5.00 including wine. And I am talking a sit down silver served feast not Burger King. So what the heck happened to the fantastic place I remember?

So to put this in context some latest news. This week the EU demanded as part of an Euro10Bn bailout, yep another one, the Cypriot government set a levy of between 9-10% of bank deposits. For those who don't understand that's the government taking/seizing 10% of all the money you have in savings, your checking account and bonds etc. Taking! This is not Tax BTW, people will have already paid tax at source on their earnings. It's also not capital gains which takes a % of the money you make on, but not the capital it is derived from. OUTRAGEOUS I hear you say...I say its a warning as many of the Cypriot governments failings are seen in Obama's reckless "Bet to Win" financial strategy. 

Over the last decade Cyprus spent huge amounts of money on infrastructure, public sector employment, Greek like state pensions and retirement benefits based on the assumption membership of the EU would produce unsustainable and unrealistic growth in its GDP. The EU was quite happy, as complacent as ever, and smiled benignly on the prolific mismanagement. Why? Because it's essentially a left wing statist organization. Big government is their dream model. Big government and Keynesian theory works until it all grinds to a halt as tax revenues and GDP fail to reach targets, banks stop lending and other countries stop taking your checks. Cyprus essentially utilized Obama's spend our way out of recession theory and bet/borrowed money on future growth. 

If you want to see the disaster we risk read about Cyprus, about families losing everything. The poor, the supposed who's cause the Democrats defend inevitably, are the ones who have nothing. When the government goes bankrupt welfare stops. The slaves stop getting checks. Then Obama declares a totalitarian state and seizes all funds to save the country.....to save the poor!

 

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  • The United Staes is a special case and we can print all the paper money we want, after all we owe it to ourselves. There is no danger of financial collapse here. With almost no interest rates on loans, and all the cheap foreign goods we can buy, life is good. The real unemployment rate of 15%  and 47 Million on Food Stamps  is not a problem.

  • ADMIN

    Warren, I can find no credible source for that information.  Do you really think Holder would arrest Hillary Clinton?  I'm not buying this at all.

  •   Get the Bitc* and the rest too ,especially the Busch CRIME family George and Barbara { Ma Barker } Busch . What a relief it would be to have HELLary unable to run for the presidency in 2016 .

  • Scary! It appears the financial collapse is near.

    $660 TRILLION WORTH OF DERIVATIVES, OH MY!

    evilhillary.PNG
    HIGH Treason Traitor Hillary Rodham Clinton

    UNITED States of America - As Wanta-Reagan-Mitterrand Protocols implementation remains imminent with an April 1st U.S. Supreme Court ordered deadline, it can now be reported that former U.S. Secretary of State Hillary Rodham Clinton has been placed under house arrest by the U.S. military on charges of financial treason.

    One week ago Friday, the same day Jack Lew was sworn in as U.S. Treasury Secretary, sociopath Hillary attempted to illegally divert $1.7 TRILLION of U.S. Treasury funds to a secret CIA proprietary account in the People's Republic of China.

    Both Chelsea Clinton (Hillary's daughter) and former Citibank CEO and Clinton era Treasury Secretary Robert Rubin have power of attorney over the account.

    Reference: Chelsea Clinton just the other day purchased a $10.5 MILLION apartment in New York City.

    Note: The illegal THEFT of U.S. Treasury funds was enabled by the Dallas, Texas branch of the German Nazi Bush Crime Family controlled Commerzbank.

    Federal Reserve Bank of Dallas President Richard Fisher became aware of this treasonous grand larceny and notified Federal Reserve Chairman Bernard Bernanke and sent criminal referrals to the U.S. FBI, the U.S. Treasury and U.S. Attorney General Eric Holder.

    HIGH TREASON AGAINST THE AMERICAN PEOPLE

    There is a real possibility that a massive sting operation took place with the criminal conspirators involved in this financial treason being both Bill and Hillary Clinton, Robert Rubin, former U.S. President George Herbert Walker Bush, his wife Barbara (aka the bookkeeper), former Obama U.S. Treasury Secretary Timothy Geithner and former George W. BushFRAUD U.S. Treasury Secretary Henry 'Hank' Paulson.

    Late word is that Chinese financial government officials, now representing the new government of China, assisted U.S. officials in the sting.

    The U.S. military also wants Hillary Rodenhurst Clinton tried for TREASON for her involvement in the assassination of the late U.S. Ambassador to Libya, Christopher Stevens, who was in charge of the unregistered CIA outpost in Benghazi, Libya (it was not a consulate).

    Much more here: http://www.myspace.com/tom_heneghan_intel/blog/

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