This page has been archived and commenting is disabled.
Europe Considers Wholesale Savings Confiscation, Enforced Redistribution
At first we thought Reuters had been punk'd in its article titled "EU executive sees personal savings used to plug long-term financing gap" which disclosed the latest leaked proposal by the European Commission, but after several hours without a retraction, we realized that the story is sadly true. Sadly, because everything that we warned about in "There May Be Only Painful Ways Out Of The Crisis" back in September of 2011, and everything that the depositors and citizens of Cyprus had to live through, seems on the verge of going continental. In a nutshell, and in Reuters' own words, "the savings of the European Union's 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says." What is left unsaid is that the "usage" will be on a purely involuntary basis, at the discretion of the "union", and can thus best be described as confiscation.
The source of this stunner is a document seen be Reuters, which describes how the EU is looking for ways to "wean" the 28-country bloc from its heavy reliance on bank financing and find other means of funding small companies, infrastructure projects and other investment. So as Europe finally admits that the ECB has failed to unclog its broken monetary pipelines for the past five years - something we highlight every month (most recently in No Waking From Draghi's Monetary Nightmare: Eurozone Credit Creation Tumbles To New All Time Low), the commissions report finally admits that "the economic and financial crisis has impaired the ability of the financial sector to channel funds to the real economy, in particular long-term investment."
The solution? "The Commission will ask the bloc's insurance watchdog in the second half of this year for advice on a possible draft law "to mobilize more personal pension savings for long-term financing", the document said."
Mobilize, once again, is a more palatable word than, say, confiscate.
And yet this is precisely what Europe is contemplating:
Banks have complained they are hindered from lending to the economy by post-crisis rules forcing them to hold much larger safety cushions of capital and liquidity.
The document said the "appropriateness" of the EU capital and liquidity rules for long-term financing will be reviewed over the next two years, a process likely to be scrutinized in the United States and elsewhere to head off any risk of EU banks gaining an unfair advantage.
But wait: there's more!
Inspired by the recently introduced "no risk, guaranteed return" collectivized savings instrument in the US better known as MyRA, Europe will also complete a study by the end of this year on the feasibility of introducing an EU savings account, open to individuals whose funds could be pooled and invested in small companies.
Because when corporations refuse to invest money in Capex, who will invest? Why you, dear Europeans. Whether you like it or not.
But wait, there is still more!
Additionally, Europe is seeking to restore the primary reason why Europe's banks are as insolvent as they are: securitizations, which the persuasive salesmen and sexy saleswomen of Goldman et al sold to idiot European bankers, who in turn invested the money or widows and orphans only to see all of it disappear.
It is also seeking to revive the securitization market, which pools loans like mortgages into bonds that banks can sell to raise funding for themselves or companies. The market was tarnished by the financial crisis when bonds linked to U.S. home loans began defaulting in 2007, sparking the broader global markets meltdown over the ensuing two years.
The document says the Commission will "take into account possible future increases in the liquidity of a number of securitization products" when it comes to finalizing a new rule on what assets banks can place in their new liquidity buffers. This signals a possible loosening of the definition of eligible assets from the bloc's banking watchdog.
Because there is nothing quite like securitizing feta cheese-backed securities and selling it to a whole new batch of widows and orphans.
And topping it all off is a proposal to address a global change in accounting principles that will make sure that an accurate representation of any bank's balance sheet becomes a distant memory:
More controversially, the Commission will consider whether the use of fair value or pricing assets at the going rate in a new globally agreed accounting rule "is appropriate, in particular regarding long-term investing business models".
To summarize: forced savings "mobilization", the introduction of a collective and involuntary CapEx funding "savings" account, the return and expansion of securitization, and finally, tying it all together, is a change to accounting rules that will make the entire inevitable catastrophe smells like roses until it all comes crashing down.
So, aside from all this, Europe is "fixed."
The only remaining question is: why leak this now? Perhaps it's simply because the reallocation of "cash on the savings account sidelines" in the aftermath of the Cyprus deposit confiscation, into risk assets was not foreceful enough? What better way to give it a much needed boost than to leak that everyone's cash savings are suddenly fair game in Europe's next great wealth redistribution strategy.
- 167839 reads
- Printer-friendly version
- Send to friend
- advertisements -


they called it "the Greek Vortex" actually.
Forward, European Union of Soviet Socialist Republics!
They're doing it for the children!
It's always for the cheeeeeldren.
They love the children so much.....they're robbing them blind.
FORWARD KONZENTRATIONSLAGER!
The NWO is licking their chops they are so close to the end game.
You have to be insane to keep money in European banks after all these repeated warnings.
You have to be insane to put an iota of trust in central banksters and political 'leaders', yet most still do.
As I have often said, humanity, taken as a whole, is fundamentally insane.
Humanity, as a whole, is fundamentally brain dead.
I blame doctors, because they are the first people we see.
Bright lights, mother is yelling, or doped up, maybe there was a c-section - an over used practice. Then after a brief meeting with the parents the baby is whisked away to an incubator like an egg. Then the mother is forced back home with no rest, the father is expected to work soon after instead of holding his baby whenever the baby needs him.
It's just fucked this world we are living in, yet it is inspirational. We have so much to overcome and we really aren't anymore spiritually behind than before. Maybe humanity makes the great leap, maybe we don't, but it sure is interesting.
What if you knew that the whole of physical existence was just a 3D hologram and that your only reason for living was to work with Will and Imagination in order to overcome the maya (illusion) allowing you to escape to another dimension with god like powers?
Would you live your life differently?
If it was a 3D hologram, we would all be static and not moving. At the very least, we are 4D.
Merizobeach this would be a stimulating conversation to have together. Here is my email jrines@ragingdebate.com . Anybody else like Tall Tom or others that want to email and talk about this subject please feel free to do so. It's a lot of fun and scientifically, I wager a few of you have conducted some experiments. Access needs to be codified into software and that might be possible in the NEAR future, enough said ;)
I wish ZH had a method for user to communicate with one another from each thread.
Merizobeach this would be a stimulating conversation to have together. Here is my email jrines@ragingdebate.com . Anybody else like Tall Tom or others that want to email and talk about this subject please feel free to do so. It's a lot of fun and scientifically, I wager a few of you have conducted some experiments. Access needs to be codified into software and that might be possible in the NEAR future, enough said ;)
I wish ZH had a method for user to communicate with one another from each thread.
"At the very least, we are 4D."
Yeah, but it still hurts!
Forward, Rocinante!
I think we are poorly or improperly evolved. Maybe we are devolving? Something ain't right and that's why I love Idiocracy so much!
There is a reason that Darwin's evolution is taught in the schools and taken as the only gospel. If the true teachings of all the esoteric schools became widely available then the masses would know that Nature evolves and devolves as well. We are seeing the end game of a giant compost pile that most are gladly marching into. If you want to evolve you have to resist every trick of the black lodge aka TPTB. This take lots of Will and unfortunately the hypnotized are busy watching the Olympics.
You're not the first I've heard refer to TPTB by that name. The other writer was of the opinion that they believe they are doing the Great Work and don't understand their own evil. I don't think I buy that.
You could be quite wrong in that assumption, ask yourself where that reaction comes from is it emotionally based, and based upon logic and reason??? Do we really think our mere 80+ year existence in this realm is in anyway meaning ful in a multi billion [arguably trillion] year old universe?? We are barely here long enough to pass gas. But then again each of us has to find our own path in our own time, and 95%+ are not supposed to find it each evolution. Would this place serve its purpose if there was no chaos??
Most are not reayd to understand the principles you have described on several posts here. Remember my friend it is a violation of the Law of Free Will to intrude on others right to remain Ignorant. Less then 5% [and I'm being generous here] are ready to 'level up' and beat the game in this incarnation, they have not learned their lesson yet, but do not feel sorrow for them as this was choice made before they entered the game here. How many could actually accept what this place is, why they are here and who they truly are, they veil is thick right now, and growing thicker by the day...........
You make good and valid points. Absolutely chaos has its function. Without chaos one would never know order, without darkness one would never know light.
" We are barely here long enough to pass gas." So very true, lol. It's my main complaint, 80 years is a ripoff! It's not even enough time to learn anything. I know I will be back again. I cannot give up my attachments to this world, and I'm not done learning from it. Still, I'm glad of the progress I've made so far, even if it only means I've become aware of my vast ignorance.
You guys need some epic theme music to go with that:
http://www.youtube.com/watch?v=Hs4g_jC48Wc
C'mon everybody! Sing along!
http://www.metrolyrics.com/lets-just-see-lyrics-engineers.html
All the chemicals are working...
'You made me master of the world where you exist
The soul I took from you was not even missed'
'Lord of this World' by Black Sabbath.
germany should abandon EU tomorrow
Germany is the EU.
Germany is the single pillar holding up the entire house of cards called the "EU" (sounds like ewww). Remove that pillar, and....kaboom!
Germany is the shepherd that fleeces the sheep...
Portugal, Greece, Spain and Ireland are in debt because they were FORCED to buy shit they didin't need. But that shit was "made in Deustchland"...
In Portugal's case it was: submarines (!!), electric trains (siemens), hospital equipment (siemens again) and many other items (all overpriced, obviously)...
yup! greece was no different.
EU accused of hypocrisy for £1 billion in arms sales to Greece
Broke? Buy a few warships, France tells Greece
France, Germany Forced Greece to Buy Arms: MEP
France Is About To Sell Four Of These $412 Million Warships To Impoverished Greece
I read zerohedge for deep shit like this, calling a spade a mother fucking spade. There goes one half of the first world. How did it happen?....... robbed at gun point.
"the power to print is the power to destroy."
this European "Bank" is in the wrong City...they should have located it in Venice actually.
Redundant comment removed.
Its amazing how you can rob the WHOLE WORLD at gunpoint for 600 years, and STILL be poor as dirt...
modern day holocaust, your money goes to the furnace. and then you just die
Don't worry, much of Europe is disarmed so people can't shoot politicians supporting this.
That's ok. The cities are tight and small. Ever wonder how the USA solved that problem over here?.... notice those nice wide streets in DC... it wasn't no accident.
yep, which is why it's imperative to disarm Dumbfuckistan (formerly known as USA) so great plans like this can jump the pond.
NO NO NO NO NO !!! dontcha remember...IT'S ALL FOR THE CHILDREN !!!
so if you got pHysical, it can be confiscated, or if you hide it, they will make the situation untenable to use it. If you have fiat, they will confiscate and invest it for you in what they want. What you done got. bitchez? Nada. Lets hear all you smart guys present a solution. Bitcoin?
High value tangible goods.
And AU. These fuckers won't be in charge forever.
This is how they will take your gold. Doesn't matter how much lead you stacked. Quite possibly the scariest article I have read to date.
http://rt.com/usa/real-life-iron-man-armor-746/
How many times do I have to repeat this? The U.S. government will not be confiscating gold. If and when it becomes desparate enough to make a grab, it will do so through taxation, and for many reasons that should be obvious.
if you're the worlds larger energy producer by far...you don' even need to worry about taxation actually.
"our winter your problem."
Dude, that shit is for use against the parasitic FSA. When their votes are no longer needed they will be disposable when the SHTF.
Have a bug out plan and when this fiat experiment goes tits-up, bug out.
I always hear people say don't make big purchases, times are tough. F that. I am buying as much high quality products as possible, while I still can - before our paper hits the ground like zimbabwe.
It's a lot easier to confiscate dematerialised securities, such as USD, any paper denominated in USD and bitcoin. At least with physical they have to come and take it in person.
Ah, Bitcoin. It's OK, till they seize you and your "thumb-drive", waterboard you till you cough up the code. Or, they may just kill you, and fry your thumb-drive. That, more or less, finishes your Bitcoin.
interesting that it was a denial of service attack.
that's normally a Government action...not "hackers."
Ever heard of multiple wallets? ... and if you have time, see this tutorial on 'sloppy wallets' - things you leave to distract and identify attackers. http://www.youtube.com/watch?v=I1uefzJJ6nM
If you are being waterboarded, resist for a bit and then give up the keys to a minor wallet with a credible percentage of your wallets ... ignore further torture.... if they keep going, they intend to kill you anyway.
Nice, I assume they will use the money they confiscate to buy more stawks?
BULLISH!
What a great plan! Unless of course, one believes in free men and free markets and values their freedom and liberty.
yeah sure, europe has no history of reveloutions or anything
Germany is a Federal State...in theory it could "break apart."
Please forgime my being uninformed on this suject of EU rules.
Since there is no fiscal unition, is this legal under current EU laws?
Can the EU impose its will on individuals domiciled in all EU countiries?
What does this mean for the sovereignty if individual EU nations.
Please forgive my being uninformed.
How can one human being have the right to tell another human being what to do, as long as no harm is being done?
What does this mean for individual freedom?
Obumpma : You want freedom, you can have your free dump. Your ancestor fucked my ancestor , now it is payback time. I fucking destroy your country.
Oby's ancestors never were forced onto the boat. They probably were sell side slavers...someone had to be.
What sovereignty?
+1000000000
well EU has broke all its rules. most of the PIIGS shouldn't even be in the EZ. i'm not even talking about the last 4 years monetary policy as bailouts would be illegal according to the lisbon treaty's conditions. nobody really cares. there's no rule of law in EU, there never was. just the rule of the bankers.
"Can the EU impose its will on individuals domiciled in all EU countiries?"
problem is that sovereign governments are complicit and are acting on voluntary basis, because they all belong to the bankers, who dictate the EU monetary policy.
The banks are complaining that the big problem is they are required to have money in the bank.
No Problem. They simply move their savings to "The Bank of Certa, Sealy and Posturepedic".
Complete privacy (no ratting out to anyone), No Fees, No Charges. Funds available 24/7/365, even on holidays. No Withdrawal Limits.
Note: The Depositor plays their part in the Security of Deposits, depending on whom they let on the Premises. ;-)
That would be great if the 4th amendment were still in effect in any meaningful manner.
It's time to bring out the guillotines
LONG over due.
Wow.
EU-wide communist nationalization/confiscation!
Forward, Soviet!
www.forward.com
the daily by jews, for jews, and about jews.
the, ahem, similarity in the words "forward" and "forward" is not a coincidence. it's a cohencidence.
those who forget history are...probably reading kosher books.
http://www.jewwatch.com/jew-controlledpress-publishers.html
or watching kosher tv/movies
http://www.jewwatch.com/jew-entertainment-hollywood-jewish-monopoly.html
"...and then they came for me, because I defended my misanthropic sociopath lucifierian co-religionists 24/7".
Shoot the messenger using down arrows.
chemy
my guess is you are 12 and have never met a jewish person but have watched a bunch of youtube about bankers.
Let's discuss Guy Rothschild. Born into the French family with everything. Serves in the army and goes to work in the bank. WW2 happens and the Vichy take his bank. His mother's entire family and a variety of relatives get murdered and dispossessed.
He rejoins the army and gets evacuated at Dunkirk. Comes to the US but joins up with the French in London. On the way his ship is torpedoed, 13 on his ship die. Gets captured but escapes. After the war the Socialists take his new bank.
By this point I'd be thinking 'wow, the people will grab anything that's not nailed down.' I wonder what the best way is to secure wealth. Every time I make money they take it away.'
And for the record all jews are doctors not bankers, I know I've counted them.
My point is if you just hate jews admit that you do so with out reason or personal grievence. This bullshit about them starting wars is nonsense. Bankers loose with wars. One side defaults. Peace and commerce are in their best interest. But logic probably isn't your strong suit.
Apparently you have never met a Zionist.
Is the Red Shield of One Mind? Probably not.
Zionists, Khazars, are not "jews" as I understand the term.
.....and the Tribe said "Forward," "harvest the sheeple and let us Rule The World."
Queue Flakey and crew of apologists to explain why this is a great idea and should be done here.........
Or you know, you can just default. Not destroy all confidence and not send the continent into conflict.
Nah. The EU is the baby of the political class for the past 25 years. Why give it up now?
the great scam will be after they lull the fools of their savings into the grand promises of socialism (why have savings.. we all get what we need) then politics will change, conservatives get in charge and crimp all those programs away.... so now no savings and now no social programs..
and it was all planned from the start...
People are greedy and will never go for "socialism", for better and worse.
the majority of the people who will be affacted by these measures are fat, lazy, addlepated, indoctrinated, and will do whatever makes them the most comfortable for the next 60 seconds.
Whew, good thing that could never happen here!
But, but Cyprus was just an isolated event, a special exception! They promised it would never happen again! What are you telling us? These people would lie to us??? Who would beleive such a thing?
I think Cyprus was the trial run; to see if people just rolled over for it and forgot about it again.
actually that's exactly what the policy folks said Cyprus was...a "template."
What's next? "only titled individuals can have title to land?"
Apparently, the Cypriots are only armed with shotguns.
http://www.youtube.com/watch?v=tD0PKDGlwiw
Bullet proof does not mean stab proof. Soft body armour vs xbow.
http://www.youtube.com/watch?v=1nLRymWv-CA
bullish PM, bitshit, whatever
"feasibility of introducing an EU savings account, open to individuals whose funds could be pooled and invested in small companies?"
See: "Solyndra" du jour. What could possibly go wrong? Current gov't policy already does a stellar job of picking winners and losers (and handing your wealth to them): banks, MIC, campaign contributors, deadbeats, etc. Each of those has contributed mightily to the good of mankind, right? (Apologies to the deadbeats - it's not always your fault, and getting rid of the other parasites might remove you from your plights).
P.S. If you think that pulling your investments from the market will relieve you of this "bail-in" burden, then think again. If instituted this will be a tax liability on all of us. It will not be dischargeable through bankruptcy, and I'd expect that an unpaid debt will be inherited by your progeny. We've all seen the playbook. Gov't will sell your soul - to themselves. And it will be done slowly and marketed as anything but additional enslavement. In the USA expect to see the colors red, white, and blue in the promotion/propaganda. Prepare to see eventually a lot of red and white because not everyone will go quietly into bondage.
Europeans have savings?
this is a VERY good point actually...and two thimbs up for the six people who up-arrowed you.
in point of fact one could argue "all they have is a benefit check."
the irony that what has led up to this point (austerity) could lead a hyperinflation should be lost on no one.
Read the article again, it says pension savings. They're going to confiscate money that they were eventually going to have to print anyway, but they know this bitch is collapsing quickly so they have to do it now. Now instead of printing it and letting the people have it, which would cause hyperinflation and public hangings, they're going to "mobilize" it, meaning print it now with the stroke of computer keys without the sheeple getting wise to it, then securitize it and sell it back to the same people from whom they stole it. The people are going to buy the present with the money of their future and be left with nothing, while the elites make off with all of the hard assets courtesy of the citizens.
Guillotines are too good for these people.
Actually household savings rate in europe are 13.9 % on average, in the US not even 3%...
LOL, from whom's ass do you pull that number?
shows how little Mericans know about europe
All your currency are belong to the government
This will be tough to do here in Dumbfuckistan won't it? I mean at least until we are disarmed.
There now, you said something that makes sense, unless you ARE advocating disarming the population. You are than a troll/tool, or a fool.
A bad haircut, in this case means you have been robbed. That may be the case if the government reaches in over a long weekend and steals money from your bank account. This is a horrible precedent to set, and the worst part may be how some people are letting it slip out that it would be fair, or in some way justifiable if it is only on the larger accounts. It is fine if it only impacts the savings of someone else, the savings of what they see as "the wealthy", the problem is someday they may come for you. More on the bail-in concept in the post below,
http://brucewilds.blogspot.com/2013/03/a-bad-haircut-seizing-bank-accoun...
Putting aside the moral outrage and the damage to people's trust, the economic effects of massive wealth confiscation depend greatly on who it is taken from and what is done with it.
The very wealthy are apparently unable to invest their wealth profitably in the real economy, and so are simply sitting on or speculating with massive quantities of it. If this wealth were confiscated and invested in the real economy, in for example infrastructure renewal and green energy projects, it would have a hugely stimulative effect.
Even if the bulk of it were taken from poor and working people who would have spent it right away it would at least generate as much economic activity being spent by a (hypothetical) non-corrupt government as it would in the hands of the consumers.
If however it is confiscated and used simply to heal banks and retire public debt, it will have a massive deflationary effect no matter who it's taken from.
Has anyone seriously modeled the effects of this? My prediction is that the model will show the bail-in setting off a death spiral of collapsing demand, collapsing output, business failures and collapsing wages and collapsing revenue. It's hard to see what countervaling pressure in the Euro economy could set a floor on this collapse.
I doubt somehow this scenario is what the banks intend. But maybe they see it and are just out of options.
The collapse of the Euro economy might be expected to set off an explosion of the black economy, such as we are seeing now in Southern Europe, which would progressively displace the Euro economy. Governments could react, perhaps preemptinvely, by reintroducing national currencies to capture this black economy, but that would only work if the national currencies were non-convertable and shielded from the international banks' claims.
That would in turn involve a major shift in political power.
It is very rare that a comment so relatively brief could be so wrong, in so many ways, about so many things.
Paul Krugman, is that you? You silly goose!
There is a boundary which, once you cross it you forever leave behind all hope of distinguished professorships, "Nobel Prizes" and space in the Gray Lady. You can only go so far before the Powers that Be consider you a threat. If you test that threshold and turn back, they may still find a use for you as a kind of unofficial "Establishment Left", as kind of a boundary marker for the limits to acceptable discourse.
Kind of like Rachael Maddow, that seemingly free and fearless spirit. What stories and facts does she leave out? What issues does she ignore? Whose anger will she channel and whose won't she touch? Where does the logic of her arguments lead that she won't follow? Ask, and you will soon understand the reality of her invisible leash, and of the invisible hook that could yank her from the stage for one wrong move.
If you let them goad you to anger and contempt, that's a sign they're doing their jobs well.
Uh, so why is he wrong, Mr. Cocknballs? Please consult your own crystal ball and give us your predictions. That way we can judge for ourselves. We're just supposed to take this global "wrong" on faith?
all to save the very wealthiest .000001% elitist scum stock and bond holders who will not lose even a penny
Kinda interesting to look at the number of reads and comments on various articles posted here around same time every once in a while. Class envy is alive and well on ZH, while this article which could potentially affect more people if implemented here than any comments by some fucked up CEO, but that's what people read and comment on.
Dumbfuckistan, as shown below.
http://www.youtube.com/watch?v=ndshbH3qZ6Y&list=PLa8S4GilqogSviCmzIY1jzX...
Sorry, Sir. I have no fucking "class envy", so.... fuck-off, asshole.
yeah....sure you don't LOL
Dice's schtick is getting old, anyone can find idiots walking down the street, they are everywhere. But just because they may not know what is important to him does not mean they don't have a grasp on what is important to them.
"Class envy is alive and well on ZH..."
Reminder: The guillotine blade doesn't know or care why it's falling...
Dominoes
Only after confiscation of all personal wealth of the masses will they 'invent' cutting back on socialism and call it 'Sustainable living' aka ..... draconian rationing.
Fucky you!
So they're going to confiscate the money and give it to the people that caused the crisis, in order to avert the crisis they caused. Also, there's no guarantee they'll be able to use this money to avert the crisis they caused, since they already have a track record of failure by wasting the original money.
That outta work out just fine.
Well stated.
It was just a blatant theft in the first place, all the so called 'crisis' talk was just to provide cover for the looting.
What happened to the trillion plus dollars the Fed funneled to European banks in the latter part of 2012? At least thats what I remember reading on ZH.
Apparently, it all went for hookers and blow.
but that's good for the economy, right?
Is it true that Corzine is going to manage myRA..?
"We stole it and you might get it back." has now become "We're just going to keep it."
There you go, getting all wee-weed up about a one shot tax deal. Your stocks will go so high you'll be saying, "tax me again- harder this time" when you get a gander (.)(.) at your new paper worth.
I thought Europeans were better educated than us, haven't they read about the French Revolution and stuff?
better propagandized perhaps, but not necessarily educated
This time we won't take out "Royalty" we will go to the bone and take out Rothschild, Rockefeller, families etc as well as their lieutenants at JP Morgan, Morgan Stanley, Bank of America, Citbank etc...
It ain't going to be pretty - but neither is what they HAVE DONE TO US!
Oh.. and the NSA will work for the people and root out every one of these slimy bastards!
Can see the drone lining up a limo in New York right now!
Anarchy before civilisation resets without these blood suckers
If the NSA actually was able to rid us of these beasts, I might take a little different view of them. Unfortunately I think they use their knowledge in order to further their own agenda and that it has little to do with helping the people.
So if we all just took our money out of the Banks, and didn't buy any Paper Anything...
you know just shrug and walk away..
With all our paper money?
Wow. Get back to basics; it's not a crisis; it's just normal result of spending what you don't have. There's no "temporary gap" they can span, or get to the other side of; there's just moar spending moar than they have. "The trouble with Socialism is you run out of other peoples money to spend"---Margaret Thatcher.
You mean they can go after the foriegn companies deposits who are trying to avoid taxes. Interesting and sounds like a joint US effort. Just like Cyprus and the Russian investors.
Bought another 5 kilos of PHYSICAL gold and 10,000 oz of PHYSICAL silver from the Perth Mint last week.
Who needs the ECB, IMF et al these fuckers? All the banks do is FUCK you
Get with it!!!!!!!!!!!!!!!!!
PS Its official - the Perth MInt running low on the PHYSICAL
Another five kilos? Where do live again?
Did you buy it physically at the mint? My friend went there recently, and they treated him like a terrorist - gave him the full treatment, everything save the anal probe - and then he still couldnt get silver.
Also - doesnt Perth Mint have shocking premiums?
*Ahem,* I have a spare safe you could put that in. Just sayin.
I guess that puts you on the Queen's list of homes to be raided when the collapse happens.
ya that f'n Draghi refuses to destroy the Euro like Ben and Janet have the dollar...
I'm betting that this could be a ploy to get mo money from the Fed however because if they scalp the citizens of the EZ it would be a signal to savers everywhere to get out of banks...and...go..to...gold?
And it's gone!
Yeah............
http://www.youtube.com/watch?v=-DT7bX-B1Mg
how is that "redistribution" when it's used to plug liquidity holes at banks? That's theft of my wallet to cover the vig at your casino and nothing more.
Ein Volk, Ein Reich, Ein Bank Account
The EU is an odd mix of Soviet Communism, and out and out corporate fascism. The EU was founded as an extension of European Corporations, an enforcement tool for corporate power. But along the way, the Red Communists joined in with the EU idea, as they saw a perfect enforcement platform for a soviet socialist social agenda. Forced integeration and destruction of all culture that was once considered northern European. The corporate fascists favor open borders to cheapen local labor, the reds favor it to enforce the destruction of the cultures they so hate. So, EU, perfect match of Soviet Union and Nazi Germany. Both allied for common goals. Now, there are those who love this new EU and it's power centered in Brussels, as corporations have never wielded such power, never had such access to cheap labor and never had such ability to ignore elections of local home rule. Lets hope for one race, one culture, all centered around the dictatorship of the EU whose only goal is increased corporate profits and all powerfull banks, and the scum bankers who now own Europe and are seeking to own Ukraine as an added little bonus. What Hitler could not do with the entire German army, the EU can do with 30 Euro a day bribes to their fascist protestors and assorted bribed fools. By bribed fools, I mean those liberal elites the EU and USA fund for life in return for handing over of nations to the EU fuck machine,
Jack, what is the difference between Moscow, Brussels, or D.C.? The languages?
What nation is more Fascist than the US? The US is more fascist than Hitler's or Mussolini's governments. At least the people there were under dictatorships. In the US we actually vote our Stalins in power. And then keep em in powers for decades.
Banks control the most powerful nation in modern time and we're talking about other nations popliteal flaws.
GREAT JOB AMERICA. KEEP FOCUSSING ON YOUR NEIGHBORS LAWN.
Why bother with reflation when infation and deflation gut the middle class?
Do the Central Banks understand that their very existence is only to serve the 1%?
Let me get this correctly, please.
"the savings of the European Union's 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says."
The E.U. as a WHOLE had some bankster-cocks gang-rape and penetrate them and stretch them open. In order to staunch the bleeding from their orifices after they got done, they (the population of the E.U.) are told that they ( the E.U. population) WILL have to stuff some absorbent materials ('TAMPONS', or 'LONG-TERM INVESTMENT VEHICLES) in their assholes, mouths, and vaginas so that the BLEEDING and WOUNDS will not METASTASIZE and cause DEATH from being BLED OUT.
Did I miss something, here?
MOLON LABE!
SIC SEMPER TYRANNIS!
CRY HAVOC!, AND LET SLIP THE DOGS OF WAR!
http://www.youtube.com/watch?v=LmrbiX9__wM
FUCK YOU, ROTHSCHEILD!
I think you are missing a point. It is the wealthy that get fleeced by the poor (and their polliticains). I'll grant you that bankers are doing OK but throughout history it is the lenders who get slaughtered as politicians ruin the currency and thus the savings of all net producers. The poor and the debtors are the ones crying for easier money. If the EU goes through with this it won't be the poor who suffer. It will be done to keep the government goons on the payroll and the benefits coming a bit longer.
He's not missing the point as much as your point is an additional, but related, caveat.
The wealthy get fleeced by the poor, do they? Banks suffer from the deval of fiat, is it?
You may very well have turned in the dumbest comment I've ever read - anywhere.
?
The EC has been having its eye on the savings of EU citizens for some time now. And more importantly on the pension funds of the rich countries.
The EC is king in Europe. Oh, there is the EP and the council of European member states but the EC has more than executive powers. A few days ago the EU countries decided to ban the introduction of a GMO after the EP rejected it already. But the EC can still decide to introduce it anyway. And it is all legal because they put it in the EU constitution treaty. That is how democracy is in the EU.
FORWARD!!!
Time to preheat the ovens!
I hope you purchased your oven from a licensed outlet.....those things are patented.
No.....I'm not kidding.
Crikey. Great find, Zero Hedge.
So this creates a picture of a Europe beyond being ravaged...the pending pension crisis is nightmarish enough, but then they will go lose whatever pension savings actually do exist.
-
Ayn Rand nailed it. Antilife. Sanction of the victim. The politics of pull. Scientism. Aristotelean rationalism v. Platonic sophism + whips.
Noone deserves whats coming. It didn't have to be this way.
Why is it that the people who talk ceaselessly about Ayn Rand do so?
Because they haven't read anything else. Ayn Rand is to Philosophy what Justin Bieber is to Philosophy.
There is much in her writing that is original and profound, but the bits that are original aren't profound, and the bits that are profound aren't original.