The Battle of Cyprus – Banksters vs Workers

Could This Happen Here?  The E.U. Wants To Take Money Out of Depositor’s Accounts Without Their Permission! These Are Thieving Banksters Who Should Be Escorted To The Nearest Prison.

Here’s a snip from Ellen Brown’s latest article chronicling the criminal activities of the European Union:

Ellen BrownIf these worries become really serious, . . . [s]mall savers will take their money out of banks and resort to household safes and a shotgun.

– Martin Hutchinson on the attempted EU raid on deposits in Cyprus banks

The deposit confiscation scheme has long been in the making. US depositors could be next . . . .

Retirement. (Photo: Loz Pycock / Flickr)On Tuesday, March 19, the national legislature of Cyprus overwhelmingly rejected a proposed levy on bank deposits as a condition for a European bailout. Reuters called it “a stunning setback for the 17-nation currency bloc,” but it was a stunning victory for democracy. As Reuters quoted one 65-year-old pensioner, “The voice of the people was heard.”

The EU had warned that it would withhold €10 billion in bailout loans, and the European Central Bank (ECB) had threatened to end emergency lending assistance for distressed Cypriot banks, unless depositors – including small savers – shared the cost of the rescue. In the deal rejected by the legislature, a one-time levy on depositors would be required in return for a bailout of the banking system. Deposits below €100,000 would be subject to a 6.75% levy or “haircut”, while those over €100,000 would have been subject to a 9.99% “fine.

Read the entire article:  Click Here

Click here for Ellen Brown’s web site.

Click here for Public Banking Institute

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