Tag Archives: Greece

It’s Not a “Haircut” – It’s a 77% Beheading of Bank Depositors!

Large Depositors Now Decapitated to 77.5% of Savings!

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E.U. “Stealth” Raid on Russian, Eastern European Wealth

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The Long Reach of the E.U. Banksters To Grab up to 77.5% of Depositor’s Funds in Romania, Serbia, Ukraine, Malta, China, Russia

The thing to remember is that the Cyprus banks did business in many countries other than Cyprus.  The Bank of Cyprus has branches in the Ukraine, Romania, Russia, the UK, and the Channel Islands, as well as representatives in many other cities in the Eastern European area.  The people in those areas who thought they were outside of the EU bankster’s area of influence were wrong, as they are finding out, much to their distress.  Their deposits will lose, just like the people who actually live in Cyprus.

The Laiki Bank, or Cyprus Popular Bank, the second largest in Cyprus, was turned into a “bad” bank by the EU who illegally and fraudulently seized the bank. Laiki was stuck with all the bad Greek Bonds, derivative and other similar debt.  The accounts under 100,000 euros were moved to the Bank of Cyprus, while those accounts over 100,000 euros were held in the “bad” bank and readied for the guillotine, and what now is reported by the N.Y. Times, a 77.5% beheading, converting their cash money into frozen shares, or “equity” that cannot be sold for years or maybe never.

Phoney propaganda reports in the U.S. press tried to convince readers that the people getting screwed were a bunch of foreign mobsters – mainly Russian mobsters who were “hiding” vast amounts of money in these “secret” Cyprus Banks.  Let’s take a look at the reality of this and a short history of the Laiki Bank that has been eviscerated by the EU Banksters.

The Laiki Bank started in 1901 in Cyprus.  We are not going to go through every moment of their history, just the highlights that bear on this article.  But this is not a “newcomer”, it is a very old bank and was certainly respected in many places in the world.  In 1972, the Hong Kong Bank, one of the largest banking groups in the world, thought enough of Laiki to acquire 21.16% of the Bank.  They held this all the way until 2006 when the HSBC, the successor to Hong Kong Bank, sold their shares.

In 1983, Laiki Bank bought Grindlays Bank, the oldest and largest foreign bank in Cyprus and the third largest bank there.  In 1992 they opened their first European office in Athens, paving the way for expansion.  By 1995 they were opening offices in South Africa and Canada, and 1997 saw expansion into Yugoslavia and Russia.  In 2001, they opened 5 Branches in Australia; in 2005 they expanded to the Channel Islands and bought the CentroBanko in Serbia. 2007 saw expansion to the Ukraine, Malta and Russia; 2011 saw an office in Beijing, China and investment from major banks and big investors.  In fact, the Marfin group pumped in a huge 488.2 million euros in 2011.

The bottom line is that this was a world-class operation, a bank operating around the world, with 439 branches and with 8,464 staff servicing one million three hundred fifty thousand customers.  So much for the phoney news from mainstream American media that it was just a few Russian mobsters that got clipped in this operation.  No, it was people from Australia, China, Serbia, Greece, Ukraine, Romania, Malta and other countries who are getting thrown under the bus.  The burgeoning business communities in the former “Eastern Block”, the up and coming middle class around the world, these are the true victims of this complete scam perpetrated by the Central Bankers of Europe and their partners, the world-wide net of operatives from banks like Goldman Sachs.This is the legacy of the Banksters who are now feasting on the deposits of innocent people around the world like a pack of wild jackals tearing apart an antelope on the plains of Africa.