America, are you watching, are you listening, are you absorbing? The European Union has approved the Cypriot government taking 40% of every citizen’s bank account if that citizen has the equivalent of USD$130,000. Under $130K and you’re off the hook, but this morning I also heard the grabbing point was USD$120K, not USD$130K. At least the two largest banks will not open until Thursday, if then and ATMs are only giving our the equivalent of €100 daily (about USD$128.00).
Imagine waking up to find out that as much as 40 percent of the money you thought was safely deposited in the bank was seized, without your permission, to bail out a near-bankrupt government.
That’s just what thousands of large depositors in Cyprus woke up to Monday morning after European Union officials accepted a last-minute deal offered by the island’s lawmakers to secure a $13 billion bailout to avert imminent financial meltdown.
The deal, which also slashed the island’s oversized banking sector, came as euro ministers in Brussels threatened to cut off crucial emergency assistance to Cyprus’ embattled banks after business on Monday if no agreement was reached. Source: Fox News
In the video, you’ll hear that “all the Russian oligarchs have their money parked there [Cyprus].
This is what the U.S. wants to do solely to replenish Union pensions. If you don’t get it, you don’t deserve to vote.
If the video does not play or disappears, view it here.
Related and Background:
Cyprus Accepts EU Deal to Seize Citizen Monies (video)