The world is run by the Rich , for The Rich and by The Rich.
And of course it is of the Rich.
At times one laments the Death of Communism!
Wish The Communists had been less brutal and less Corrupt.
‘Four pages with the names of some 132 companies and individuals who withdrew the bulk of their deposits in euros, dollars and rubles kept in local banks reveals protothema.gr.
Transfers of money totaling causes vertigo made within 15 days, namely the period from 1st until March 15, 2013.On Friday, March 15 at the Eurogroup meeting which decided formally levy, as has been called the “haircut”, on deposits of companies and individuals in all banks in Cyprus. These 132 companies and individuals seem to have “inside” information about impending single taxation of deposits in Cypriot banks so it proved as the elements contained in lists, in most cases, they withdrew all their deposits in Euro, dollars and rubles, which moved to other banks outside Cyprus, which apparently considered a “safe harbor.”
The disclosure of the list, which shows that the outflow of deposits from local banks other financial institutions outside Cyprus became massively creates reasonable suspicion that some had inside information about the decisions taken by the other 16 eurozone countries in exchange for funding deficits of the economy.
Apart from the huge moral issue raised, the government of Nikos Anastasiadis is heavily exposed, since in some cases, those who took huge funds from abroad are relatives of the President of the Republic, as the company Loutsios & Sons ltd owned by father of groom Nikos Anastasiadis, who three days before the decision to “haircut” deposits transferred to a British bank 21 million euros!
Read the lists with the names of all companies and individuals who withdrew their deposits from Cyprus during the period from 1st until March 15.
The first column are names of companies and individuals in the second record of the amounts withdrawn in the third column refers to the account balance of the People, the currency in the fourth and the fifth and last column refers to the date of transfer.”
Source:
http://www.reddit.com/tb/1bfhav
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Most of us are aware of the Financial Crisis, when the Government seized amounts from the Bank account of small investors to manage its financial crisis, which triggered of a run on Banks . by people rushing to ATMs to withdraw their cash.
To defuse the situation the EU ,along with the creditors mainly Germany, made out a Bail plan and since it was suggested as being unworkable, a new package was devised.
Under this dispensation,Deposits under 100,000 euros will be protected.
The reasoning behind this is that these amount are (small amounts) are protected by Insurance!
I fail to understand that the Government will be losing the money appropriated ((or Misappropriated) by way of the payment by the Insurers.
Even if the Insurance firms belong to private Sector, it will drive inflation further.
http://ramanisblog.in/2013/03/26/banks-may-cease-your-small-savings/
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