Cyprus Taking up to 10% From Savers Accounts, Isn’t This Theft?

Unless you have been on another planet over the last few days, then you will have heard about the government of Cyprus deciding to ‘take’ up to 10% from people who hold bank accounts in their country. Obviously people are up in arms about this, and rightly so, it is blatant theft.

And the reason the UK didn’t go into the Euro is?… This could very definitely be a sign of things to come, because governments all over the world would LOVE to have a cash-less society, and why? Easy, so that their people would have zero control over their own money.

If you think that governments cannot steal from you, then Cyprus has already lead the way, and should they get away with this, you can bet your bottom dollar other countries will be watching with interest (no pun), on the reaction from the people.

In our book, blatant theft, is blatant theft, and for any government to decide to simply go into your savings account and take up to 10% of the proceeds is stealing – fact.

I don’t live in Cyprus, so why should I be worried?

Think about this very carefully. What is happening in Cyprus is very interesting. Interesting, because unless there are riots in the street about this theft, then other governments could EASILY do similar, and decide to hold their citizens to ransom, on a similar basis in the future. They will ALL be watching, and listening to what is happening with this situation. It is almost barbaric.

“Lose 10%, or lose it all” is the message given to the Cypriot people. Scandalousness.

Warning: All Governments Want a Cashless Society

 

What would a cashless society mean to you?

Of course there will be people that would say a cashless society is for the good of the people, and that by having everything electronic, there can be no fraud, money laundering, etc. etc. BUT, the other side of the coin, is that your EVERY transaction will be tracked. Every purchase you ever make will be logged, tagged and ready to be used against you.

Without Cash, you would be a sitting duck.

Also, like is currently happening in Cyprus, without cash, you are a sitting duck, at the full mercy of the authorities, and should they decide to take what you have, then click, click, click, your assets are gone, and your money confiscated. All at the click of a mouse.

Forget all the scare-mongering about terrorists using cash as a way to fund their activities, politicians use that nonsense as a way to control, through fear, and people buy into it every single time.

Would that really happen?

You doubt this? Well, next time a serious change in policy, regarding privacy is about to be rolled through government, watch the newspapers, and tabloids very carefully, and you will see all the stories about how the new policy is “for the good of the people”, and that unless this is actioned there will be a whole barrage of “criminal activity, death, fraud, drugs”, etc. etc. It is all fodder, so that the ‘people’ accept the restrictions about to be rolled out.

“If you have nothing to hide, then why be against it?”

Again, this nonsense will be branded around by those who know no better, and who are probably the same people you see jumping about on election days’ people who really believe that everything happens for the ‘good of the people’.

No, the fact is, a cashless society would be every government’s wet dream, and those that doubt this, will be in for a severe shock once it happens, and it will happen at some stage.
 
 

 
 

Cyprus Taking up to 10% From Savers Accounts, Isn't This Theft?, 1.0 out of 10 based on 1 rating

11 comments

  1. Jake says:

    Totally agree with you. It is a total joke what is happening in Cyprus.

    The future is now in buying gold, not worthless pieces of paper that only pay out a promise.

    • Hi Jake,

      As it turned out, is was more than 30% that was stolen from the people in Cyprus.

      A scandal really.

      And not a good sign for other countries also in trouble.

      Especially when you consider the UK is also on the brink of bankruptcy.

      If you doubt this, then with the national debt being at 1.2+trillion, and paying back only 2% interest (remember, that Thatcher was borrowing money at 15% interest!), then you can quickly see, that if there was any deviation in an increase to the interest rates, the UK debt would quickly spiral out of control.

      In my opinion, the debts will never be repaid back, it is impossible, and we are on the brink on a disaster.

      Sure, the politicians will talk a good game. That is what they do, but moving little bits of money around will change nothing, absolutely nothing.

      It is the welfare state that is killing the UK economy, and the habit the UK has got into when hand money out like it is going out of fashion.

      There was 700 billion worth of debt when Conservatives got into power at the last election, and in the last 5 years they have created more debt than the previous 12 years, and by the next election in 2015, will have created more debt for the UK than the previous 100 years!

      No way out of it, so you need to protect your OWN assets, and look to plan now.

      Or, what has just happened in Cyprus, the blatant theft WILL become the norm – here, too.

      Regards

      Admin

      • steve says:

        Well how do you go about protecting your assets? Withdraw all your money and stash in a shoebox or something?

        • Well Steve,

          I can think of many citizens in Cyprus right now who will wish they had done as you suggested. Some would be tens of thousands of euros better off now.

          These people have been stolen from, just like you and I are stolen from every time an immigrant is granted a free house, or cash to furnish their lives; our taxes are stolen – although that of course is a different subject.

          There are ways to give added protection if you have surplus money. When you think about it, until you have withdrawn money from the bank, or spent it, it is never really safe is it?

          In the current climate, and with what has just happened in Cyprus, your money is not safe in the bank.

          Why do you think the Cypriot government targeted the wealthy, and not the average Joe? Because they knew full well that there would not be violent demonstrations on the streets by the wealthy. And that the poor would not care less that the rich got hit.

          This country, the UK is on the brink of becoming bankrupt, and a few points higher on what we pay on those government debts, by way of interest, would most definitely create very large problems.

          Already we are borrowing, and in debt for far more than the country takes in revenue/taxes, so don’t expect the debt to be paid anytime soon. It will NEVER be paid back – fact, and will only increase due to the pathetic and damaging nanny welfare state we have all accepted.

          Forget all that nonsense about bedroom tax, and stupid amounts of money those clowns in power are messing about with, and trying to save, we are talking about tens of billions a year, that need saving, and unless radical changes are implemented, and the nanny state withdrawn, completely withdrawn, it will NEVER happen.

          There is now a £26,000 cap on the amount a household can claim in benefits. 26 grand for people who don’t work? Remember, that money is our taxes being given away, and now welfare is 1/3 of our debts. There is the problem.

          Our economy is at an unsustainable level, and most of what is paid out, is for no value in return. And if that continues, and it WILL, then it is inevitable what the conclusion will be, and if you have wealth of any type, then I suspect being passive about the sitution is not the wisest stance.

          If you think your money is safe in the banks, then please think again, and do it sooner than you probably think you may have to, especially if you have any reasonable amounts of cash in bank accounts.

          It is easy pickings… And already proven as acceptable theft by those that are supposed to look after you.

          • steve says:

            Hey admin,

            Thanks for the reply, and great info., but still i ask, what can i do with my cash, i have about 10k in 3 seperate accounts, and i would like to know what i can do, someone suggested buy gold coins, but what if i buy 10k worth and when i want to sell the value is below 10k, i’ve lost out? I need to have access to my cash readily and easily, any advice is welcome please.

        • Hi Steve,

          The first thing I would do (and have done on a personal level), is obviously make sure that the banks your money is in are not connected by ownership, due to the threshold of retrieval backed by government.

          Gold has always been an alternative option, and you don’t even personally have to hold it, as there are companies outside of the UK that can store for you, or have it personally delivered to you at your request.

          For £10k? Obviously it is a fair amount of equity, although for that amount I would not be overly concerned, because if the UK government went down the Cyprus route, I think it would potentially be larger fish that will be ‘stolen’ from, and I think that is the right word to use after recent events.

          As of right now, there is virtually zero interest given by banks, or building societies so a more direct method could be to withdraw the cash and place it in a safety deposit box for security, maybe in a few different currencies, mixed in with some gold. There are many companies that offer such facilities in the UK, and you simply get given a key, or combination number to a secure box, in a secured location.

          For £10k, the above solution would not be out of the question. Not if you can imagine turning on Sky News one day to find your bank of choice have seized account withdrawals for whatever reason, and you knew that 2 months earlier you had already withdrawn your money to a secure location. Cash will be king then, and if you went down the gold option then the gold would be overseas, if in a deposit box anyway.

          All sounds drastic, and far fetched ( to anybody else reading this) ? I personally would not trust any government with my interests, and I am also certain that those in Cyprus wish they have used foresight and taken action before losing vast quantities of their money, and then having severe restrictions placed on the remaining balances.

          If you have family and dependants, then imagine having that peace of mind whilst others are running about like headless chickens, and queuing for days to get a minimum withdrawal out of an empty cash machine to buy basics.

          And all you had to do, was make a phone call to an overseas gold company, or nip down to your deposit box to extract your hard earned money.

          It has to be food for thought in these current economic times. I am sure you worked hard for that money, so you deserve for it to be protected as best you can.

          These days, there is no difference to your money being in a secure box, or a bank, as far as interest is concerned, as you get peanuts from a bank anyway, but at least in security you have direct control over it, and it is then not just a number in a giant system that these parasites in power can deduct (steal) from.

          Regards

          Admin

          • steve says:

            Hi admin,

            Brilliant info., as ever, just a few questions. Do you have any links to companies who offer security boxes in secure places then? Sorry for being a lazy so and so, i’ll look myself if you haven’t any links, it’s just i’m asking for your expertise.
            And, what would the best currencies be to convert sterling into would you say, at present?
            Finally admin, out of 10k, what proportion in your opinion, would i be best to store in my security box, inclusive of gold, sterling and foreign currencies?
            Thank you for your comments and any help/advice is most appreciated.

            Steve

            (Steve, See reply below)

    • Hi Steve,

      Security boxes are easy to find. And links will depend on where you live, if you just type into Google “security deposit box London” (if you live in London of course), then you will quickly find them advertised; usually manned by guards 24 hours a day, etc. Very professional and safe.

      Here’s one in London for example:

      http://www.chancerylanesafedeposit.com/price-information/

      For currencies, if it were me, I would maybe go with 60/70% sterling, and the rest made up in Euros/dollars.

      If you went down the gold route as a percentage, there are companies as follows:

      http://www.bullionvault.com/

      They have offices in London, Switzerland, and New York.

      Regards

      Admin

  2. sam says:

    admin – good article!

    HOWEVER, let me mention that these Muppets in power here in the UK government ARE ALREADY robbing us, well folks that have substantial cash savings…that is.

    HOW?

    since 2007 they have slashed interest rates to 0.5% – now what did they always tell us, ah that interest rates would be pegged to inflation, and what is inflation running at, well if you believe the lairs in power 2.5% but anyone with half a brain will tell you its more like 7% or more, just look at food & utility price increases!

    These idiots in power are robbing the savers and helping the irresponsible borrowers, the government knows full well what would happen if interest rates went up. over priced house’s would crash just like they did in 1990, but hey the idiots in power want everyone to feel so so rich…because their house is EXPENSIVE!

    • Well said, Sam.

      I’ll tell you what makes me laugh, when these people knock 1p off a price of a pint, like they are doing people a favour, and even some landlords come out and say “yes, it helps, but…”?

      It helps? 1 single, isolated pence off a pint, when you have already been screwed for 60% duty?

      “Petrol rises cancelled for this year’s budget” That has to help, yes? What? When you are already being shafted for 80% duty, or something equally ridiculous?

      Total delusion is a state that most governments wish for their people to live under, and it seems it is being achieved on a grand scale, especially in the UK.

  3. Aged Rocker says:

    There really is some invaluable advice on this page by the admin. I had never thought of some of the things you can do.

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Cyprus Taking up to 10% From Savers Accounts, Isn't This Theft?, 1.0 out of 10 based on 1 rating