This page has been archived and commenting is disabled.
Capital Controls Arrive: Greece Begins Confiscating Deposits Of "Small Debtors"
Last week, the Greek government issued a decree which called for local governments to transfer excess cash to the central bank so that Athens would be able to pay pensions, salaries, and the IMF. The move is expected to raise as much as €2 billion to help keep the country afloat while the country’s “amateurish, time-wasting gambler” of a FinMin feebly attempts to find some kind of middle ground with his EU counterparts and as PM Tsipras pulls out all the stops including the old EU Summit sideline end-around with Merkel and the wild card energy gas pipeline advance from Gazprom (which may portend the dreaded “Russian pivot").
If the “temporary” local government reserve sweep constitutes what we have branded “soft” capital controls, we now have the first evidence that the “hard” variety may have arrived because as Kathimerini reports, Greek debtors are having their deposits seized in lieu of payment. Here’s more:
As the country’s finances reach a critical point, tax authorities have started seizing the deposits of small debtors, Kathimerini understands.
No figures were available regarding the new crackdown but cases of debtors targeted included a citizen with a debt of just 200 euros.
The bank account of the man in question was frozen and then reopened once it was established that he had paid his dues. In several cases, including that of a citizen with a debt of 24,000 euros, bailiffs are said to have used threats to secure the cash. The initiative comes as efforts to crack down on rich Greeks with tax debts make slow progress.
So there it is: the first indication that Greeks may soon be Cyprus’d. As a reminder, Citi now says capital controls will likely play a part in whatever the “resolution” (if you want to call it that) to the Greek situation turns out to be, barring a best case scenario outcome which seems exceedingly unlikely. As a reminder, here's what happens under "Grimbo":
In theory a run on banks could trigger capital controls tomorrow.
The lack of an agreement would also at some point be associated with capital controls and binding limits on ELA access (ZH: the writing is already on the wall for ELA restrictions as well). Compared to the previous scenario, the capital controls (a mix of bank holidays, deposit withdrawal restrictions, restrictions on external transactions) are likely to be more extensive and longer-lived...
Meanwhile, not every local governor is particularly enthusiastic about turning over reserves to the state. Here's Kathimerini again:
But many local authority leaders stood their ground.
The mayor of Aristoteli in Halkidiki, northern Greece, resigned late on Friday, citing personal reasons.
According to the controversial decree, local authority reserves will be used to “cover
the state’s urgent needs, amounting to 3 billion euros over the next 15 days.” The motion passed with 156 votes from coalition MPs following a furious session in Parliament on Friday night.
Tsipras is to meet on Tuesday with Attica Governor Rena Dourou, who was on a visit to the US last week.
Last month the Attica Regional Authority donated 80 million euros to the state.
Universities also object to the decree and rectors met on the weekend to discuss their response. Technical college directors are to meet Monday.
If the students become restless, it's truly all over.
- 126095 reads
- Printer-friendly version
- Send to friend
- advertisements -


Cyprus, bitchez!
IMF quarterly "Fiscal Monitor" - October 2013 "Taxing Times" -
http://www.imf.org/external/pubs/ft/fm/2013/02/pdf/fm1302.pdf
"And it's gone..."
https://www.youtube.com/watch?v=-DT7bX-B1Mg
Idiots. Guaranteed bank runs ahead.
Keep your bank balances as low as possible.
That's called a bank run...
Pay attention to events in Greece: this is the template for confiscation of USSA citizens funds by DHS bankster controlled goons.
Not gonna happen in the US. Why? Because they have the reserve currency and can keep printing long after the Euro and other currencies are dead. Evryone will get paid in worthless USD fiat.
Finally, a sensible fellow. Relax friends, we will not be targeting your deposits. You have my solemn promise.
The "need" to give Greece $$$ to fund influx of migrants is an excuse to get them the money to avoid Grexit.
Kick the can.
"The initiative comes as efforts to crack down on rich Greeks with tax debts make slow progress."
That really says it all, doesn't it?
There SHOULD be bank runs. They DESERVE bank runs. This is exactly the situation bank runs were designed for.
In Germany if you owe the German IRS a few hundred Euros in taxes and you don´t pay in time your bank account gets confiscated too. And that is done since decades. What is so special here? Just pay the taxes you owe in time and everything is fine.
The IRS claims we owe them X. We claim they owe us 10X. Who is right?
We are about to witness the largest bankruptcy in history.
you mean a systematic bankruptcy?
I think they'll rather create hyperinflation. Non the less all our assets are at stake!
All your ass are belong to us.
FUCK..... BRING BACK The Drachma Paper Fiats Already...
Like That USA Woman Said, "Fuck The EU" And Declare Default.
Lest Get The Show Back On The Road To Recovery NOW...
But that woman was a common road whore....
I'm only going to be happy when "Capitol" controls arrive.
Why do confiscations when you can devalue.....long Wiemar!
Silver after being revalued 100+/1 will join the ascent.
Long Physical!!
RIPS
Anyone with any foresight withdrew his money loooooooooooong ago from Greek banks. The news reported a few years ago thousands of small businesses had moved everything-- family, savings and business -- across the border to Bulgaria.
Wise move. The smarter ones who had the ability moved to Australia or similar.
"The first rats off the ship swim the farthest.'
~ Old Chineee Proverb
if you like your bank deposits, you can keep your bank deposits..
coming to a fascist state near you..
YET, Haus. Yet.
Touché.
Lol, implying that tax is not theft. In only 3 short lines you managed to say that there's no love of freedom left in you (or the memory of freedom). Sad.
This whole article is bullshit. Any tax authority in the world freezes your assets if you don't pay. The lazy greek gov workers were too busy getting drunk to bother.
Now under international pressure, of course they crack down on the little guys who can't put up a fight. It's also true everywhere that the rich/powerful get special treatment.
ZH comments section really going feral now. None of you can even read and comprehend the basics. I noticed on comment got 12 greenies for a link to inernational man simon black. Sheeple never learn.
Right. From;
http://en.wikipedia.org/wiki/Denarius
The denarius began to undergo slow debasement toward the end of the republican period. Under the rule of Augustus, (63 BC-AD 14) its silver content fell to 3.9 grams (a theoretical weight of 1?84 of a Roman pound). It remained at nearly this weight until the time of Nero (AD 37-68), when it was reduced to 1?96 of a pound, or 3.4 grams. Debasement of the coin's silver content continued after Nero. Later Roman emperors reduced its content to 3 grams around the late third century.[7]
the first time the banking mafia brought down western civ.
Rule of Octavius/ Augustus (he was named Augusuts only in 27 BC) ; Augustus reigned from 39 BC to 14 AD no matter what Wkipedia says: he was born in 63 BC.
WAKE UP! The rest of the world has had it with the USSA's printing machine and endless wars...
http://www.sovereignman.com/finance/another-kick-in-the-groin-more-europ...
Why don't they put their money where their mouths are then instead of continually whoring themselves out to the whims of the USA.....?
dont just blame the USSA, the bankster cartel is global with its roots from europe. It just that USSA is its biggest and most militarised puppet, makes you think they're behind it all...
But it will happen when it loses its GRC status.
Says the guy typing into the Internet.
EDIT for those of you unable to get sarcasm: i always find it funny when folks here complain about the " kids and their i-Toys " yet here those same folks are...on the fucking internet...with just a different type of 'toy' - a desktop computer...more than half of them are probably posting from their smart phones. the irony...
It can’t happen here? Well a few things, unexpected a few years ago, have definitely happened, and who is to say what gets added to the list now?
Look at our score so far:
Social Security – full payout postponed to 67 years old; corporate pensions – discontinued; Private sector unions – dismantled; Manufacturing (Jobs) – offshored; Borders – opened door to Third World: Savings returns – deliberately wiped out; Home equity – deliberately wiped out; Healthcare – socialized; Middle class wealth – transferred to investment oligarchs and Third World welfarees; Schools – centralized control; Representative government – banker controlled; White Christian culture disseminated by Zionist controlled assaults - (homosexual marriage, abortion, blasphemy, fornication, pornography, Hollywood revisionist history, white males are demonized, anti-Christian media….); Bill of Rights – destroyed by controlled speech, controlled press, anti-Christian regulations, anti-gun laws, drugs, hate music, home invasions, unlawful searches, plunder by law, justice destroyed, opportunities destroyed, history destroyed, family life destroyed…) Contract society – banker-controlled debt with Fed ownership of means of production, i.e., Keynesianism; Free Enterprise Capitalism – Bolshevik Communism; American sovereignty – US instituted New World Order; Publishing, Foundations, Institutions – Fed owned.
Perhaps there is no better explanation of what this money created out of nothing and owned by the Federal Reserve is buying than is provided by G. Edward Griffin, author of the famous Federal Reserve revelation, The Creature from Jekyll Island.
On the Fed money:
“They are using this river of wealth to acquire power over you and me and our children.
“They are spending it to acquire control over the power centers of society. The power centers are those groups and institutions through which individuals live and act and rely on for their information. They are literally buying up the world but not the real estate and the hardware, they're buying control over the organizations, the groups and institutions that control people. In other words, to be specific, they are buying control over politicians, political parties, television networks, cable networks, newspapers, magazines, publishing houses, wire services, motion picture studios, universities, labor unions, church organizations, trade associations, tax-exempt foundations, multi-national corporations, boy scouts, girl scouts, you name it…this is where those people have been for many decades spending this river of wealth to acquire operational control particularly over those institutions and individuals, those organizations that represent opposition to themselves….”
http://www.bigeye.com/griffin.htm
"You get your money for nothing and your Goy for free..."
For years many of us knew something was wrong, things didn't add up, but you never really could imagine what a simple nightmare the entire charade is, then you have assholes like Lyyndsey Graham bragging about how fucking captured they are. There isn't a big enough barf bag for all this shit.
Don't be so optimistic; it's contagious!
excellent list & comment, as usual JR - speaking of the Girl Scouts - check this out
http://www.coloradoan.com/story/money/2015/04/08/colorado-girl-scouts-se...
Why would the Girl Scout organization sell such PRIME 733 Acre real estate for a measly $12.7 million? Just added in 2007 over 60,000 sq ft of buildings and improvements.... and from the article ""Girl Scouts is changing to meet the changing needs of today's girls..."
How about it Zeros, let's make this the new ZeroHedge Magic Sky Ranch, what do you say?
Let's do it!
Your outlook isn't very positive.
Every post you make .... is about the USSA .... sooner or later .... it's called obsessing ?
Those too;)
He who panics first panics best.
Nonsense. Students will only get restless, if they lose their iToys or are disconnected from the Matrix that is the Internet.
Tech Teet
Last time this happened Bitcoin went parabolic and that was just Cyprus.
This could
Light the blue touch paper on Bitcoin.
wow, punishing debtors? that is so counter-bankster. oh, but I forgot: banksters get politicians to do their dirty work, while they rake in the booty.
I thought the election was going to make a differerence!
They gave us a great choice, a Panamanian and a Kenyan. The central planners hate America, God and country and my mom’s apple pie. They are multinationals, citizens of the world. This cannot be about the home team. America must be relegated to the dust bin of history. Why did we invade Afghanistan? Every empire in history has run aground on its rocks. The wet dream of Bill Ayres and Cloward Pivin are playing out.
There *is no such thing as a 'one-off' If they pull it off once they will do it all the time.
Income tax was a 'one-off' temporary war time measure. Many decades later countries like Sweden cannot balance their budgets with like 80% income tax rates.
Deposits of debtors they say? Dont' they know all money is debt!
Remember boys and girls. If you did not print the cash you have (debt instrument) and you are indeed a debtor (slave) then you don't own that money in the bank.
The bank ALWAYS has rights to take that money. Particularly when the State comes a' callin'. And particularly when the bank is State owned, partially owned or mandated. Or when the State decides whenever it wants to nationlize said bank or banks.
Banks + Government = Fascism
U.S.S.A. is no different. Cashless society + Negative Interest Rates (no one will be able to pay for the Baby Boomers and the Illegal Hoards that are coming) = Fascism.
After 2020.....all bets are off. Demographics (Age Wave + 100 Million more illegals = Fascism)
Correct. However:
- the implementation will always be lumpy, uneven, inconsistent, and staged in various obscure ways among different citizens and different asset classes
- our job is to figure out how to diversify our wealth to minimize risk of inflation, confiscation, taxation, etc....all within the law (such as we can understand it)
Ideas? stacked metals are good, but were confiscated in the 30s. cash in the bank has the above risks. cash out of the bank has other risks. real estate has high friction costs and the associated investment risks. stox are a bit overinflated for my tastes at present and stox shorts and puts have counterparty risks. foreign currencies are a great idea, but nobody looks any healthier than the dollar, and significant holdings trigger additional reporting and tax consequences. diamonds? old cars? art? pshaw, too much price risk. all i can think of is a mixed basket of all the above and hold my nose......
Virtually no PMs were actually confiscated in the 30s -- they were taken from the banks, not the people.
Add to this that today PMs aren't viewed as a financial asset and they're largely located on lake bottoms, I don't think this will change much. There's not enough in private hands to make a difference in any case. Far more likely is they'll simply end convertability, e.g. your LCS is out of business and anyone trying to exchange cash for gold as a business gets the Operation Choke Point treatment.
I'm starting to think the good stores are going to be critical consumables that are certain to go up in price (e.g. gasoline, food) and off-grid support (e.g. solar generators.) All well-hidden, of course.
While real estate has high friction, land out in bumfuck will be in counties populated by poor people and it'll be harder to ram property taxes higher there when it means everyone loses their land, votes against the county commissioners that raised taxes, and/or grabs their hunting rifle to fix the problem.
Hunting accidents are a turrible thang. A few heads exploding like pumpkins, and the revenuers git plumb bejiggered;)
"...
land out in bumfuck will be in counties populated by poor people and it'll be harder to ram property taxes higher there when it means everyone loses their land, votes against the county commissioners that raised taxes,
..."
excellent point
one vote against land out in bumfuck, some states have a "homesteader" designation. taxes on your home in that state (all subject to proof ie car registration, drivers license, and periodic inspection, etc) are taxed at a very discounted rate whereas all other property owned in that state is at an extreme tax rate. i.e. south carolina. the yokels like it because it screws the rich and middleclass that buy vacation homes, but is just as onerous to second homes or farmland.
I watch the debate back and forth about gold ... but always notice the first thing invders go for is to confiscate the victim nation's gold -- Greece, Libya, Iraq, and so on.
Come on Seek, think through what you just stated.
Imagine the shtf and you have food,power generating equipment,gasoline, etc.
Just as an aside, I would think booze,cigarettes,ammo & believe it or not Toilet Paper (the TP being for the women, men will be happy to wipe their ass with paper FRN "dollars") to be in big demand also.
And you are bartering all of this swag.
Regardless if your stash is "well-hidden" or not, unless your neighbors are Amish, do you really want that sort of visibility? Anyway, food,gas has a shelf life, is bulky and subject to heat.
The alternative is to have none of that, and have to somehow come up with the money to pay for it at new, higher prices.
I'm not advocating this as a barter and resale play, I'm advocating it as in investment in personal preparedness. E.g. you're better off sitting on a pile of gasoline and a generator and solar power that no one knows about than having your cash sit in a bank -- which you will either lose or have to spend after devaluation on the very things you can own now, cheaply.
Smart man that Seek
"all i can think of is a mixed basket of all the above and hold my nose......"
None of the above.
The only option for ANY of us WORLDWIDE is to accept our lot. That's it. End of story. If you weren't born into the purple, there's no point playing their game....including the counterparty game, which is always rigged in their favor.
Here's how not to play their game.
#1: Do not invest. Period. End of story. No stocks, no bonds, no money markets, no currency exchanges. Nothing. The entire system is rigged in their favor. If you want to gamble, go to a casino. At least there you know without a shadow of a doubt what their game is. It's to seperate you from your money. At least at the casino, you have a better chance at making out....and who know....you might even get comped a room, a show or even a meal. Let's see your broker do that.
#2: Do not vote. Your country was bought and paid for once corporation became people.....(Santa Clara County vs Southern Pacific Railroad https://en.wikipedia.org/wiki/Santa_Clara_County_v._Southern_Pacific_Rai....) And not long after that came 1913 with the Federal Reserve Act and the Income Tax Act. It's over. America as a Constitutional entity died between those two head shots.
#3: Do not go into debt for ANYTHING. If you can't buy the house you want with cash....by the house you can. If that means a 2 room shack vs. a 5 bedroom monstrosity.....so be it. You still won't own the shack, much less the monstrosity, (property tax), but that's a given and their is nothing you can do about. If you can't start a business on cash reserves, then don't start it until you can. Do not get a loan from a bank, a venture capital firm, an angel investor.....do not accept ANYONE'S money. There are always strings attached. Which means you now have become the slave.
#4: Do not buy anything new. Do not buy anything new. Buy HIGH QUALITY USED goods. Old Kitchen Aid mixers from the '60's off Ebay, old American made tools, older high quality cars, trucks, etc....eBay, Craigslist, Swap meets, whatever. And the simpler the design the better. Things you can open up and repair yourself. Stay away from computer chip Chinese pieces of shit. And while your at it.....when you have the cash to do so....buy two or three.....for spare parts, or when the work to repair is impossible, you have a back up.
#5: Get off the grid. As you as you can and as your cash reserves let you, buy solar panels. If you don't make your own power, you are a slave to the utilities, who are slaves to government regulations on what they can use to make power for you, and to market variations on the price of said fuel. Make your own power. Start small if you have to but add to it each and every year. Even if it takes you twenty years to get off the grid. If you want to invest, invest here. What you save in power bills each year being off the grid is like free money to you. "A penny saved is a penny earned"
#6: Grow your own food. Stick it to Big Ag (Monsanto)....and the Big Supermarket. "But I don't have enough land" Bullshit. Watch this. If you ever say that again, you deserve a kick in the balls.
http://urbanhomestead.org/
https://www.youtube.com/watch?v=7IbODJiEM5A
https://www.youtube.com/watch?v=NCmTJkZy0rM
#7: Downsize your income so that you pay no federal taxes: Yep....you heard me. Take a pay cut so that based on your income and the size of your family you can claim no federal withholding. Starve the beast. Boost this technique by moving to a state like Florida that has no state income tax either. It's in the Florida Constitution. Starve the beast where you can.
#8: Downsize EVERY expense. Kill your cable and satellite. Use streaming over the internet you already have. You watch too much damn TV as it is and it's all shit. Get Boost or Cricket for no contract flat fee cell phone and don't get extras. I have a very long commute (120 miles round trip every day). Downsized from a V6 Explorer to a used Honda Civic sedan 4 cyl ( NOT a hybrid). I went from 22 miles per gallon to 40 mpg. That's right. 40 mpg on a non hybrid 4 cyl. 4 door Honda. If I were to hypermile any...I could probably get close to 50. But hypermiling can get extreme and dangerous. I like to KISS (keep it simple stupid).
I could go on. There are THOUSANDS of little technques anyone can use (our parents and grandparents did....like make your own soap, both hand, bath, dishwashing and detergent). But playing financial games with money you don't own from labor you don't own either (that's right....you don't own your labor because either you work for a corporation, or if you don't you probably are still in debt from your business loan, or you paid for materials you didn't harvest yourself.) And money is simply a symbol of your labor that the ELITES get to price for themselves. with money THEY created out of thin air.
You want to invest? Here's the best ever...and it comes from the Amish. Invest in a community.....with neighbors. Share things with that community and your neighbors. When the shit hits the fan....don't expect the government, nor the banks nor the cops to help you if you need it. It will be your community and your neighbors more likely than not.
This comment should be an article. You, sir, are awake. Your comment here and one you wrote last night are the best I've read this week.
To what you said, I would add this: get creative, with your savings, storage, and security.
Everyone expects a gun. Everyone expects a home safe. Everyone expects a stocked pantry. What do you have going for you, that people would not expect?
For storage, think decoys (decoy safe, decoy pantry, etc.). For security, think thornbushes, pitfalls, substances, decoys, noiseless defence, etc. A good hiding place beats a strong defence.
I'd also add that social networking is a trap, of a different kind. Learn when to speak and especially how to shut up.
And I can't applaud enough your point: <<There are THOUSANDS of little technques anyone can use (our parents and grandparents did....like make your own soap, both hand, bath, dishwashing and detergent).>> The internet is rich with instructions if books are too much.
Your point about 'ownership' is dead on. We are PEASANTS. Peasants do not own anything. Peasants work for their betters. We must stop using stupid lies such as 'first-world' and 'middle class'. Unless and until the peasantry forcefully takes back ownership, it remains peasantry. That's us. Bravo, sir, for your plain truth.
Thank you for your kind words. But it took me the better part of 50 years to "wake up" so I'm not all that wise and smart. Plus the last 7 years I've literally been in mourning. But I'm coming to the acceptance stage now. Now it's high time and past time to prepare.
"Everyone expects a gun. Everyone expects a home safe. Everyone expects a stocked pantry. What do you have going for you, that people would not expect?"
The Spanish Inquisition!
No one expects them.
i would add occupy property (don't even have to buy, could be a long term lease) where you can rent or sublet for income, to people who share your views.
good points, but a bit idealistic unless you are leaving for mars.
consider for example, "#1 do not invest": not possible. holding cash is an investment in cash. holding food is an investment in food. holding property is an investment in property. at least open your eyes and weigh the alternatives realistically.
you must realize the fact that each of these ideals has a lot of intangibles to work out, otherwise you wouldn't be driving 120 miles each way on a commute, which dominates over the savings on several other things you've brought up.
otherwise, well said.
Fair enough. But do recall...when I said don't invest, my examples were of the financial trixters sort...Wall Street and banksters.
The best investment of all...is learning. Your mind is the best thing to invest in. No hyperbole....when I discovered and trolled ZeroHedge in 2008 before joining, after I lost everything and was actually living in a pop up camper with my family, I thought the Tylers and the posters were fringe and loony. Not anymore. You guys were my "Morpheus" pulling me out of the Matrix. A link to a story here....a link to a video there....a suggestion of a book to read. Of course the articles here. And then just observing what was happening in the world and how it was being described vs. the narrative here on ZeroHedge.
That was the breakthrough. I've been trying to reorder my mind and my habits ever since. Can't help the 120 mile commute as of yet. My work is still in the big city. But, our small ranch/farm, in the boonies is worth it. When folks meet my kids and they ask me what my parenting secret is I tell them, God, home schooling, and country. And that's little "c" country.
agreed....squared and cubed even.
i am fairly happy with my history as an investor (which is best personified as a frightened turtle), but far and away my best investment was education. a phd in the hard sciences, a lifetime of building relationships with folks who realize that when they hire me they get stuff that works.....those have been far more lucrative than the investments. (sigh)...perhaps someday my stacks of pm will be worthwhile. the pm stocks took a big hit upwards around '95, and both stocks and metals did around '12.....i keep waiting for the next leg up. who knows? (i've also been lurking here on zh far longer than i've been registered to make pithy comments....)
First you get the Women and the Children and so follow the Men.
The Elite, the Corporates and the Mainstream Media know that relatively few men will give it all up and as a result go without p*ssy.
If you're a Greek citizen and you have money in a bank all I can say is WTF!!!!!!
How do any of these banks have any deposits at all? Are the people so isolated and blinded that they don't really recognize how close they are to a Cyprus situation?
And for people who might have money in a Greek bank....too bad so sad, you weren't paying attention.
"Coming to a bank near you!"
The Greek government is like any other government. When they run out of money, they come after you.
When they run out of YOUR money, they come after you.
Oh so true...
Maybe naive but I still somewhat believe these measures lead to restarting of drachma behind the scenes. That would make sense because spreading such a news would lead to euro withdrawals and outflows too; the people would certainly try to keep the stronger currency.
But if the Greek government really strives to collect cash just for stuffing the IMF's pockets then God save Greece.
They already doing it with bail-ins everywhere in eurozone.
I read that as "balls in"
Why anyone anywhere still has anything substantial in a BANK, I'll never know...
Sheep.
The gov can do whatever the fuck it wants anyway. Like change the currency on you or ban cash altogether. Why more people don't own gold is beyond me.
"becasue you cant eat Gold and it doesnt pay interest...."
-Your Typiccal American Debt Serf -
American serf no different than any other serf.
because that's taken as well, or atleast band. still got internet? i an't gonna say it. oh and another thing, it's not on the protocols of zion either...
HEY PAL...GOT NEWS FOR YOU...HISTORY ALAWAYS REPEATS ITSELF - GOVERNMENT CAN FORCE YOU TO TURN IN YOUR GOLD - If gold can't be legally owned, then it can't be legally redeemed https://en.wikipedia.org/wiki/Executive_Order_6102
Ever heard of the black market? They exempted collectable gold coins when they required people to turn in their gold, you know. Also, gold can be melted - "oh, look at the nugget I found in South Dakota!."
HEY PAL...GOT NEWS FOR YOU...HISTORY ALAWAYS REPEATS ITSELF - GOVERNMENT CAN FORCE YOU TO TURN IN YOUR GOLD - If gold can't be legally owned, then it can't be legally redeemed https://en.wikipedia.org/wiki/Executive_Order_6102
HEY PAL...GOT NEWS FOR YOU...HISTORY ALAWAYS REPEATS ITSELF - GOVERNMENT CAN FORCE YOU TO TURN IN YOUR GOLD - If gold can't be legally owned, then it can't be legally redeemed https://en.wikipedia.org/wiki/Executive_Order_6102
At the height of the Russian collapse taxes hit 100% and companies paid their employees in sugar to get around the tax.
Governments can do whatever they want until the citizens also learn how to do whatever they want, then you have a serious problem because you end up with hardened tax evaders that will *never* pay your taxes aka Greece.
The Secret Freedom Fighter Book is entirely written on this premise and I suggest reading it..
Corruption will always run into diminishing returns as the cost of stealing from forever more hardened citizens becomes less than the cost of enforcement...
Second that recommendation. Here is a link for anyone searching:
http://www.google.ca/url?sa=t&rct=j&q=&esrc=s&source=web&cd=8&cad=rja&ua...
A few quotations I like, from the beginning:
<<TOO MANY PEOPLE DON'T GIVE A DAMN IF THEY ARE FREE OR NOT. In every country that ever lost its freedom, the men in power rule with the acquiescence of the general populaton. Ninety percent of the people in all those unfree countries not only tolerate the loss of their freedom, they actively co-operate with the authorities that have taken their freedom away... DON'T SACRIFICE YOURSELF TO WIN FREEDOM FOR SOMEBODY ELSE. All you want is your own freedom. If you do any of the things suggested in this book, you should only do them if it results in making you feel a bit more free. ...DON'T TRY TO GET YOUR FREEDOM BACK BY ORGANIZING. Grab every bit of freedom you can on your own and run with it... The people who preach organization don't want you to be free. They want to control you so they can be free to do what they want. A truly free society is disorganized.>>
This book teaches not only ways and means, but most important, a perspective of reality acceptance.
<<Governments can do whatever they want until the citizens also learn how to do whatever they want.>>
That should be on a bumper sticker. (Although, given the state of the filth today, having any bumper stickers outside of '[X] FOR PRESIDENT' may get you shot...)
Organization is the enemy of freedom. Seeking organization to preserve freedom is something like relying on pacifism to defeat aggression.
CNMCDEE thanks for the recommendation, Renfeld, thanks for the link. Reading it now. Some good advice so far.
Greece - sovereign of FLEECE.
Congrats with your avatar.
"issued a decree local governments to transfer excess cash to the central bank so that Athens would be able to pay pensions, salaries, and the IMF."
ZH - if i may your statement it seems to be somewhat incorrect ... the funds seized from the local government were intended for salaries, pensions of local government; with the decree such funds were borrowed from Central Bank and will be used to pay the IMF.
the argument is that IF funds are received from EU on May 11, the local government and hospitals will be paid back and they will have funds to pay salaries, pensions etc.
For me it is a big IF ... if the EU (or whoever is beyond Diesselbloom) intended for the game to continue they would not have cut off all the lines one after the other since August.
the real loan was 2.5 billion dollars from GS in order to enter into EU ... everything else has been just interest piling up since the MARKET did not think the interest was high eough ...
https://www.youtube.com/watch?v=07-hA9DW-Po
If funds are received from EU on May 11? I got some news for you, nothing coming from the EU, they just robbed Peter to pay Paul....
These local councils just need to be smart about it and spend their reserves as fast as possible.
“These local councils just need to be smart about it and spend their reserves as fast as possible.”
Not so fast with your advice: what if such reserves represent over-collected taxes? In such a case, your advice amounts to aid given to those plundering banks; and shafts deluded peasants, again.
This is a problem that Americans will shortly have to contend with.
For the last… who knows how many years, American cities and counties, special districts and state governments have been collecting taxes far in excess of their annual needs. These surpluses are held as cash and bonds, real estate and stocks, domestic and international; they represent taxes over-collected. When I did my research on this (about 2000), such surpluses for California divided out to $20,000 for every man, woman and child in the state; when I factored in amounts hidden in footnotes, the “dividend” ballooned to over $40,000 for each individual. See, for example, “Who Owns City Hall?“ and Of Lords and Cattle.
These surpluses lead to a couple of questions, at least, ‘Who owns them?’ and ‘When do I get my dividend?’
It seems to me that recovering this booty – that is, returning it to those from whom it was wrongly taken – would be more sensible than turning it over to a federal bankrupt.
Forget Greece… we need to focus on tomorrow, and here.
The dumbest fucks on the planet- people who still have their money in Greek banks.
It wasn't their money to begin with.
Infact, it's not money at all.
Paper will always be paper.
I bumped your up-arrow for your excellent avatar.
Your comment was also good.
They grabbed mine last year. Oh no that was the Franchise Tax Board.
It's not wise to loan money to banks.
Signed,
Irony
If in doubt, go back to basics... If you truly understand MMT, it's their money and your debt.
Smart people mitigate risk in all ways possible and practical. Fools and sheep do not.
The next move by the government will be to charge it to the taxpayer's credit card.
When there isn't enough for the rich, steal from the poor.
Bullish for global income inequality. Good thing we have central banks.
*cough*
Often it would appear that the "Elite" believe that the poor have too much.
You fucked up. You trusted us.
Yep. "In Gov We Trust".
People who deposit money into banks become creditors. When will you fucking learn?
Cash withdrawels in other piigs should rise.... should. Sheep. Like buying pm's, better 5 years early than one day too late.
That's why we should hope for a FED hike, no matter how small. It will most likely create a huge selloff, eventually followed by another round of counterfeiting to compensate. Ride the waves.
Would love to see the people storm elite Greek estates.
Rape the women, sell the silver, milk the goats.
It's your turn now.
What is stoping you?
They have cartons of cigarettes in their basements.
I would gladly give up my net wealth to see Obama, Biden, bernanke, Dimon, all members of Congress, the joint chiefs led to the guillotine.
I have a personal list of scum to add to the roster.
We all do.
Yellin, Dudley and all the other members of the FED have to be on that list.
Don't forget all holders of financial institutions' voting stock and senior debt.
"You get the government you deserve."
disagree. the invention and rise of mass media was a game changer which wasn't predictable. the banking mafia latched onto it fast and used it to **** everyone. any future civilization will need to somehow figure out how to prevent excessive control of the mass media distorting all political decision making.
"Temporary", bitches!
Like da' gold win-dough wit Prezuhdent Niksun....
The old phrase "you can bank on it" is gonna take on a whole new meaning pretty soon, worldwide.
If this kind of confiscation should be akin to capital controls I can report that we have capital controls in Germany as long as I can think. If the German tax office believes to have an unpaid claim over a citizen and even if the claim is minimal - let us say EURO 500 - the citizens current accounts, deposits and safety boxes will be frozen until the claim, even if it is not rightful, has been paid.
Same in the Netherlands, but they do need some kind of court order.
"All your monies are our monies"
- The Elders of Zion
"If we want your money, we can keep your money",
- The Bankers/Gov/Corporate thieves of USA
4. But when the comedy is played out there emerges the fact that a debit and an exceedingly burdensome debit has been created. For the payment of interest it becomes necessary to have recourse to new loans, which do not swallow up but only add to the capital debt. And when this credit is exhausted it becomes necessary by new taxes to cover, not the loan, BUT ONLY THE INTEREST ON IT. These taxes are a debit employed to cover a debit ....
"Capital Controls Arrive: Greece Begins Confiscating Deposits Of "Small Debtors"
"Confiscating" LOL
Those that know how the banksters' ponzi really works know that those deposits were stolen the second they were deposited. The so-called debtors borrowed their own wealth, and not only did the debtors pay usury, but the rest of the society paid the banksters as well in the form of price-inflation.
The banksters and their violence-puppets, government, are only now officially acknowledging the prior fraud and theft perpetrated against the people.
Liberty is a demand. Tyranny is submission.
Save a wall, guillotine a bankster.
Libertad http://www.apmex.com/product/87944/2015-mexico-1-oz-silver-libertad-bu
Its theft plain and simple. They got Phds thinking up new names for it all the time. Its still theft.
1. Careful with Ekathimerini reports, Ekathimerini is a mouthpiece for ND, has been for years.
2. Even if true, the gov't has offered amnesty on fines from taxes owed if they pay back now. They don't even have to pay it all back up front, there's payment plans that stretch out up to 100 months and one can choose how much to pay per month with no interest. If these fuckers don't respond to that and they're stupid enough to keep large sums in the bank, well fuck them they deserve to lose it!
<<< Grexit
<<< Contr + P
"If the students become restless, it's truly all over."
No. The real worry is the Greek military. They have more general officers than the U.S. -- and they are all big eaters. The Greek military has shown itself to be absolutely worthless when it comes to foreign troops but they are quite enthusiastic when called upon to kill Greeks...
I read all these posts about Greece and their debt. None of them ever explain what constitutes the conditions of austerity. Do they mean trim the government workforce? trim 10% off government salaries and pensions? I know it means collect taxes from the rich who don't pay but what else does it include?
There is no austerity in Greece right now, none.
Greeks are simply living the standard of living they can manage themselves without EU and Nato handouts.
Nato money now going to Ukraine, Poland, Estonia etc.
Southern front of nato is now less important than eastern front against Putin the Mass Murderer
Greece was doing much better before it entered the EU. I was there many times back then. There were no boarded up shops and people begging for money, as there are now.
Before it entered EU in 1981, Greece had no highways and no full electrical coverage.
EU (cough ,,,Germany) built Greece, built the highways and electrical grid covering all greece.
There wouldn't be beggars in Greece right now if they went back to work in agriculture as they did before 1981 EU entry.
Ignorance on steroids.
When you know dick all about something, it's always better to shut the fuck up.
Seriously, where do you come up with this deadly wrong shit.
Hooey.
Well, uh, *cough*...maybe they shouldn't have fucking DONE that! Maybe Greece didn't need, and couldn't afford, new higways and a 'grid covering all of Greece'...
It does no good to lift people's living standards above what they can afford themselves. Loaning them money to do so, and enslaving them in debt, is stupid and cruel.
The socialists that run the EU are drunk on power, Greece, like Portugul and Italy, were a land grab, this is the end product of failed empire building, all done with US approval of course.
And dont forget those highways and communications infrastructure are going to be very useful when the German military machine moves in
the hasbara never sleep
@jemlyn,
The details of the "restructuring" austerity program have not been published. This is for two reasons:
1) The exact forms of the cutbacks were always meant to be open to negotiation.
2) The main intended targets of austerity, the ordinary citizens and retirees, and social services, would be even angrier.
Hospitals continue without adequate resources. Government and private workers continue to wait for months of back pay, etc. Cutting these areas is (for now) considered safer than cutting the bloated military or collecting tax from the rich.
Even Syriza pledges to pay for the German subs and other expensive supplies for the dangerously inactive military.
The Submarine Deals That Helped Sink GreeceThe critical part of it is the asset stripping. The Greeks being forced to sell off valuable property to the banking mafia who loan sharked them.
edit: to explain the other part
say
Greece needs $200 a week to pay nurses
Greece needs $200 a week to pay back the loan sharking banks
but
Greece only has $200
austerity is the banking mafia saying (via the EU) we will take your $200 for the banks and then give you $150 for the nurses
Well, in that case, they should keep the 200, pay the nurses 150 themselves, and pocket the difference. Then tell the EU to go fuck themselves.
Greek military is a government job program
So is the US armed forces, CIA, NSA, DEA and Congress.
US Military does its job, which is to put food on your table by defending trade world routes.
Greek military contributes nothing to Nato outside greece
But they'll BOTH be deployed at home in the coming national bankruptcies.
Those trade routes in Iraq, Afghanistan, Libya, and Ukraine are not as critical to me, the ones now being “protected,” as my freedoms. And speaking of freedom, it’s the U.S. Empire’s Patriot Act, NSA surveillance and Zionist control of the government that has underscored the power of the most potent military force in the world used to protect my enemies. And by the way, the theft of those natural resources and the supply of cheap labor that the US Empire gets from sovereign countries, with the backing of the US military, generally comes back, not to the benefit of the US citizens, but to the cowardly multinational corporations who hide out here under the international wings of the Fed.
They should base all those troops to protect our southern border. This country is going to make violent crime in Mexico look like a joke in a few decades.
and don't forget the all important condiment, opium.
production seems to follow the US military. once was Vietnam, now Afganistan.
the US mil doesn't put food on MY table smuck, it takes MY money for fat prime pork projects like the F35 requiring me to downgrde from pink slime to ALPO.
So how do I eat?
Putting your money in a bank is putting your money on someone's front doorstep and walking away....Would you do that?...
It's worth mentioning at this point that the Greeks situation is an entire world apart from the RUSSIANS (not cypriots) that got "Cyprus’d" for hiding offshore cash in Cyprus. Their "bail in" was totally different.