Sunday, March 17, 2013

Panic In Europe As ATMs Drained After "Bailout Tax" Triggers Run On Bank Deposits

After watching this rapidly evolving situation, one cannot help but wonder if this could be the worldwide financial (collapse) tipping point: 

For those who don’t believe the government is prepared to take extreme measures that may include the seizing of retirement accounts, cash savings or even gold, look no further than Cyprus, the latest recipient of bank bailouts.
As of right now, citizens of Cyprus are scrambling to withdraw funds from their bank accounts after the EU, with agreement from the Cypriot government, announced they will decimate funds held in personal bank accounts to the tune of up to 10% of existing deposits.
You read that right.
The European Union has made the determination that the people of Cyprus are now responsible for the hundreds of billions of dollars in bad bets made by their government and bank financiers, and they are moving to confiscate money directly from the bank accounts of every citizen in the country.
Restrictions have been imposed to stop people emptying their accounts or moving their money out the country after the Cypriot government announced that up to ten per cent of deposits will be seized and used to bailout the island’s crisis-hit banking system.
The deal with other eurozone finance ministers is the first time that ordinary citizens’ deposits have been directly raided in this way.
One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’
Under the deal, all bank deposits over €100,000 will be hit with a levy of 9.9 per cent. Those with smaller savings will pay 6.75 per cent.
The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines.
‘Why would you risk putting your money in Greek, Spanish or Portuguese banks after this?’
British expats were stunned by the news, with many left high and dry by the restrictions on accounts.
Cash machines had been working, but many ran out of notes because of the panic withdrawals.
But financial experts said the raid – designed to stop Cyprus crashing out of the euro, potentially destroying the currency – would send shock waves through the eurozone.
If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the  banks.
Source: Daily Mail
They’re calling it a “tax.”
As Market Ticker’s Karl Denninger notes, “Like hell that’s a tax.  That’s direct confiscation of the funds of people who did nothing wrong!”
It should now be obvious. There is no recovery. There never was.
No matter where you live, your government is likely preparing measures to deal with the coming financial and economic collapse. This means they are going to be coming for anything of value that they can get their hands on.
If you have the majority of your net worth allocated in bank accounts, money market funds, retirement plans, stock markets or the host of other ‘safe’ assets recommended by your financial adviser, then you are playing Russian roulette.

In a move that could set off new fears of contagion across the eurozone, anxious depositors drained cash from ATMs in Cyprus on Saturday, hours after European officials in Brussels required that part of a new €10 billion ($12.6 billion) bailout must be paid for directly from the bank accounts of savers.
The move - a first in the three-year-old European financial crisis - raised questions over whether bank runs could be set off elsewhere.
Jeroen Dijsselbloem, president of the group of euro-area ministers, on Saturday declined to rule out taxes on depositors in countries beyond Cyprus, although he said such a measure was not currently being considered. Although banks placed withdrawal limits of €400 on ATMs, most of them had run out of cash by early evening. People around the country reacted with disbelief and anger.

Under an emergency deal reached early on Saturday in Brussels, a one-time tax of 9.9 per cent is to be levied on Cypriot bank deposits of more than €100,000 effective on Tuesday, hitting wealthy depositors - mostly Russians who have put vast sums into Cyprus's banks in recent years. But even deposits under that amount would be taxed at 6.75 per cent, meaning that Cyprus's creditors will be confiscating money directly from pensioners, workers and regular depositors to pay off the bailout tab.
Cyprus's newly elected President Nicos Anastasiades said taxing depositors would allow Cyprus to avoid implementing harsher austerity measures, including pension cuts and tax increases, of the type that has wreaked havoc in neighbouring Greece. That thinking appealed to some Cypriots, including Stala Georgoudi, 56. ''A one-time thing would be better than worse measures,'' she said.
But Sharon Bowles, a British member of the European parliament who is the head of the body's economic and monetary affairs committee, said the accord amounted to a ''grabbing of ordinary depositors' money'' billed as a tax.
The surprise policy by the International Monetary Fund, the European Central Bank and the European Commission is the first to take money from ordinary savers.

It is difficult to describe the weekend bailout package to Cyprus in any other way. The confiscation of 6.75 percent of small depositors' money and 9.9 percent of big depositors' funds is without precedence that I can think of in a supposedly civilised and democratic society.But maybe the European Union (EU) is no longer a civilised democracy?
heard rumours about this when I visited Limassol last week, butdismissed them as completely outlandish. And yet, here we are. The consequences are unpredictable, but we are clearly looking at a significant paradigm shift.
This is a breach of fundamental property rights, dictated to a small country by foreign powers and it must make every bank depositor in Europe shiver. Although the representatives at the bailout press conference tried to present this as a one-off, they were not willing to rule out similar measures elsewhere - not that it would have mattered much as the trust is gone anyway. It is now difficult to expect any kind of limitation to what measures the Troika and EU might take when the crisis really starts to bite.
If you can do this once, you can do it again. if you can confiscate 10 percent of a bank customer's money, you can confiscate 25, 50 or even 100 percent. I now believe we will see worse as the panic increases, with politicians desperately trying to keep the EUR alive.
Depositors in other prospective bailout countries must be running scared - is it safe to keep money in an Italian, Spanish or Greek bank any more? I dont know, must be the answer. Is it prudent to take the risk? You decide. I fear this will lead to massive capital outflows from weak Eurozone countries, just about the last thing they need right now. Even from the EU as a whole, I suspect, as the banking union is in place in most countries already.
Another open question is what will happen to the huge number of brokerages based in Cyprus? There is about 100 or more FX and other brokers currently operating under the relatively light Cypriot regulation. How will this impact the trustworthiness of these many small institutions? What IS the exact impact on the client deposits they might be holding in Cyprus? Will anyone dare to do business with them going forward?
This is a major, MAJOR game changer and the fallout will be with us for a long time to come. I believe it could be the beginning of the end for the Eurozone as this is an unbelievable blow to the already challenged trust that might be left among investors. Talk about a possible own goal.
Market reaction? it must be very good for gold - and for safe-haven countries like Switzerland, Singapore and economically more healthy non-Euro countries in, for example, Scandinavia. I would think the EUR and associated markets will be undermined by increasing lack of confidence when the full implications become clear for investors.
This is full-blown socialism and I still cannot believe this really happened.
Be careful out there...

Up to 60,000 British savers are to lose thousands of pounds each as expats in Cyprus have their savings decimated in part of a painful bid to bail out the bankrupt island. 
The Chancellor said the financial situation in Cyprus was ‘an example of what happens if you don't show the world that you can pay your way’, adding: ‘We are not part of the bailout.’

Britons have about £1.7billion of deposits in Cyprus and could lose up to £170million. The Cypriot government has agreed to seize up to ten per cent of savings and use the money to bail out the island’s crisis-hit banking system.
The move sparked panic and violent protests yesterday as crowds desperately tried to withdraw their money at cash machines. 

Restrictions have been imposed to stop  people emptying their accounts or moving their money out of the country following the deal with other eurozone finance ministers, under which ordinary  citizens’ deposits will be directly raided for the first time. 
One furious expat said: ‘This is plain theft. I’d love to hear someone explain to me why it isn’t.’

But financial experts said the move – designed to stop Cyprus crashing out of the euro, potentially destroying the currency – would send shock waves through the eurozone.
If savers in other troubled nations fear their accounts might be next, they could withdraw their money and spark a catastrophic run on the  banks.
Economist Howard Archer from IHS Global Insight said: ‘It is an alarming precedent to hit the man in the street. As much as they say this is a one off, people will say if they can do it once they could do it again.’

A spokesman for the Cypriot government said yesterday the agreement with Brussels was ‘serious but not tragic’ and said that the EU had wanted a much higher levy, but the government had fought hard against it.

Mark Levin reaches tens of millions of listeners weekly, and what he talked about recently on his nationally syndicated show has sent shivers down the spines of many of them.
A few years ago this was fringe theory, restricted only to the sphere of alternative (conspiracy) news.
Warnings of a massive economic collapse, government stockpiling of weaponry, and the idea that Americans could be broadly classified as terrorists and then detained indefinitely or killed often fell upon deaf ears.
Today, as more information ‘leaks’ into the mainstream, it is no longer just conspiracy theory. We now have some of the most influential journalists and commentators in the country alerting Americans to the possibility that everything the government has been preparing for the last several years may soon be realized.

I’m going to tell you what I think is going on.
I don’t think domestic insurrection. Law enforcement and national security agencies, they play out multiple scenarios. They simulate multiple scenarios.
I’ll tell you what I think they’re simulating.
The collapse of our financial system, the collapse of our society and the potential for widespread violence, looting, killing in the streets, because that’s what happens when an economy collapses.
I’m not talking about a recession. I’m talking about a collapse, when people are desperate, when they can’t get food or clothing, when they have no way of going from place to place, when they can’t protect themselves.
There aren’t enough police officers on the face of the earth to adequately handle a situation like that.
I suspect, that just in case our fiscal situation collapses, our monetary situation collapses, and following it the civil society collapses – that is the rule of law – that they want to be prepared.
There is no other explanation for this.

The Pentagon and military have been war-gaming large-scale economic collapse and civil unrest for nearly four years. Those within our government who understand the ramifications a massive breakdown in our systems of commerce, transportation and justice are preparing by stockpiling weapons and ammo, tens of millions of food rations, and even emergency shelters. They are spending hundreds of billions of dollars on continuity of government programs and exercises, preparing for what they know is coming.
Now why would the government be doing this if there wasn’t a reasonable chance that such events could come to pass?
We’ve urged our readers to prepare a well thought out contingency plan for the very scenarios our government is spending your hard earned tax dollars on.


C_aver said...

Well, for those of us in the US we can watch some of this unfold almost like slow motion....except it has the potential to get real fast real quick. About a year ago I posted something for anyone who wanted to take advantage of it and get prepared. I'm going try and recreate it here.

It is coming folk....

If you can and want to get your family as prepared and in as good a shape as possible, there are a few things you might want to consider.

Remember, when it happens you will go home normal on Friday but over the weekend the financial roof will fall.

Cash: Prepay some major bills, buy now the larger ticket items you know you are going to need the next year and then get your cash out of the system. Hide it, at least 3 months worth.

Food: Get survival food, you can find one good source at

Weapons: If you are so inclined, buy legal but not from a registered store that gets you on a Fed data base. This is legal but keeps you off the radar. One of the best shopping list can be found at Agree to the terms, select your state, then select "firearms".

Ammo: Whatever weapon you have, get at least several hundred rounds for it. Remember, when the warnings started 6 months ago you could buy a "brick" of 22 LR ammo for $20. Now its $80-$100, if you can find it. I've been looking for 2 months and can't find it.

Gold and Silver: I suspect the rise to start slow but accelerate as the panic starts. After the markets open in a couple of hours, you can follow the price 24/7 here. If you haven't gotten your supply by now, perhaps you should consider slightly higher price for faster delivery.

Stocks and bonds: Research this one yourself...but perhaps a good idea is to tell your broker you want to take physical delivery of your stock and bond certificates. He won't like all. And you need a really good place to store it....NOT in a bank safe deposit box.

We should all be praying about what we need to do for ourselves, family, friends, and neighbors during these times.

Robert said...

Wheres Jesus?3245

C_aver said...

Its exactly what Jesus and Rev told us to look for.

Seek But Don't Hide said...

Yep. We were all warned ahead of time. However, there will be tons of people that are caught unprepared. Sad.

Thank you for all the prayers. Please pray that my weight will get under control and stop dropping so fast. Since surgery I can't seem to eat much at a time and am having nausea and vomiting. Thank you.

Anonymous said...

I basically stated a LINK to
David Wilkerson's prophecy a
few days ago....I was NOT sure what
country in Europe he was told about
but I think WE NOW KNOW....


Dtrange that I did not KNOW about
Mr. Wilkerson's prophecy until just
one week ago when I came about it
on line.

Watch for a FULL BANK RUN there
leading to some SA country going
under. the last one on the list
will be the tune of
a 100 BILLIOB plus default.

please review the link if you need

This KIND OF ACTIVITY just goes to
prove what Robert Prechter at EWI
said; when governments get involved
thigs always get worse.

there is a crash coming....


FP of course in power....

time running out.

and SILVER since a HUGE rally has already started in the US dollar.
Cash and cash ONLY please !!!!

Stephen >>>>>>>>>>>>>>>>

Anonymous said...

Use Psalms to pray by making decrees,declarations and speaking to your situation in Jesus name.
eg say aloud to yourself from today every weight issue must go etc.

Anonymous said...

Rebuilding of temple soon ??

shocking >>>>

please go here >>>>>>>

Stephen >>>>>>>>>>>>>>

Anonymous said...

TWO WEEKS >>>>>>

according to David Wilkerson we
all HAVE TWO weeks from right now

I highly SUGGEST that any one who
reads this do that on MON....18 MAR
2013 >>>>>>>>>>>>.

do NOT wait the two weeks !!!!

for what ??

Stephen >>>>>>>>>>>>>>>

Mrs.C said...

Hi Brother Stephen,
The Temple is not going to be rebuilt "soon". There are a couple of wars that have to happen first.
As the article you referred to doesn’t state it will be "soon" anywhere that I could see, but it is an interesting take that the Muslim speaking in the article says that Temple would be for everyone

Anonymous said...

Suppose this crash comes;even those whom barter with gold/silver, canned goods,goats milk,coffee, weaponary, safe havens, etc...ok then what? How long is this suppose to last? And if this is the ushering in for New World Government of globalization for flat-lining and controlling of all whom survive, where does this fit in our unfolding of End Times? I'd like more suggestions for guide-lines on questioning; what duration does one take heed to hold up for, and suppose your guarded goods run out? The depression ran its course long ago and now if another crash comes in the midst of prophecies being forfilled, then please fill in the gap,occurring, after your survival stock is gone.Or if once collapse runs course, what do good people have do mentally to be prepared for as to what takes place next? Thanks. I believe something is brewing with undercurrents of indicators of which are being mentioned; but curious to take on notion; stock-piles run out, then what? Yes faith, be not afraid, but prepared spiritually,wisely; what else? Feedback is truly appreciated!


Scott said...

I have mixed feelings. But I am also in the camp of 'prepare for the worst, hope for the best).

Its funny though, because the closer we get to this all happening, the more convinced that he gathering up has to happen relatively soon - and I believe this for a variety of reasons.

I think this can all only go so far with the restrainer still here. I also believe that the "Days of Noah" apply to the pre-trib era, and if there is world-wide financial collapse, we're no longer in the days of Noah (world-wide. Don;t forget the entire context of the Olivet Discourse is "the world".

Additionally, as I watch the effort for enact gun control in the US - I do believe it could set off a second revolution, again, something that would significantly thwart the globalist agenda - and lets face it - a large portion of those who would resist are Christians - particularly when you weigh the ex-military.

I believe the answer to the question is that the gathering up should be relatively soon

Having said that - I;d invest in some freeze-dried food, or stock up with non-perishables at the grocery store with every trip and I;d get a good water filter (Berkey is a good/great one).

Gary said...

This is getting really, REALLY EXCITING!!!!!

GG said...

Hi Joyce-

We too are in the same mindset as Scott and the C's. Today we had a family review. In the past week we have talked with neighbors. We have friends in law enforcement in various towns so we made sure to reconnect game plans.

We talked about an emergency plan with hubby available and without. We talked about if we are to leave and common meeting places. We talked about our preps for a quick non rapture departure as well as long term. The key is to start in these steps to minimize panic. Do all the things that can keep you from joining the chaos if somethng breaks loose. Learn to enlist team work and a ration approach. Keep a bible handy and pray along the way.

For the kids find activities in a bag to keep them calm and distracted while they wait. I have had many of the same dreams for almost two years. Though we only know Gods plan is his and his alone, the dreams all had a common theme of news, panic, chaos pray and we turn on rely soley on our Father in those moments. Give praise and the most amazing peace is there throughout. In all these dreams it showed a barrier but the evil there and we were out of here lifted while in praise mode.

This prepares us for the worst and if it is a peaceful departure all the better :). It as shown me about community coming together in these hard times. We have many great neighbors as well as Christian friends who are concerned right now about weather and weapons. Those two topics bring in the opportunity to witness before, during and after. We all know who should be around our homes and what is not of us.

The best part of prepping is all this may not be about what we need but what may be left for those who are left behind. I hope this helps.


Mrs.C said...

Gods Word tells us what it was like - "As was in the days of Noah"
They were blind to their sin as the rains fell. There has always been "marriage" and partying so as to speak, while evil thrives around us regardless of wealth times or dire poor times. The world is blind, and continue in their ways. Same with the evil in Sodom and Gomorra. Same with the evil found in the Nazi's. The same evil in the world, recycled century after century...unending blindness and sin...

Genesis 6
5.And God saw that the wickedness of man was great in the earth, and that every imagination of the thoughts of his heart was only evil continually.

11.The earth also was corrupt before God, and the earth was filled with violence.
12.And God looked upon the earth, and, behold, it was corrupt; for all flesh had corrupted his way upon the earth.
13.And God said unto Noah, The end of all flesh is come before me; for the earth is filled with violence through them; and, behold, I will destroy them with the earth.

Anonymous said...

Sure enough, Gold and Silver are
starting to sell off. As I have
SAID MANY times, the only safety
is in CASH.....(not in the bank of

There is talk that the terms MAY
BE MODIFIED to exclude the Cyprus tax on small depositors...

really ??

MONEY from even just ONE depositor,
big or small...

they produce panic.

that's it.

Stephen >>>>>>>>>>>>>>>>

Anonymous said...

I believe the temple WILL BE REBUILT soon.....does not matter
to me WHAT others may think of my opinion.


Stephen >>>>>>>>>>>>>

Anonymous said...

Scott, I do agree with you and
DO NOT agree with Mrs. C....

Days of Noah are like "business
as usual".............for sure....

Strange that Mrs. C has this attitude
I would THINK that she would WANT the rapture to come soon...

am I wrong about that ??

sad if I am.

Stephen >>>>>>>>>>>>>>>>>

Robin said...

There's no question, the sin in Noah's day was horrible . . .but I have a difficult time imagining it could have been worse than the sin of our day.

Genesis 6:4-5
The Nephilim were on the earth in those days—and also afterward—when the sons of God went to the daughters of humans and had children by them. They were the heroes of old, men of renown.
The Lord saw how great the wickedness of the human race had become on the earth, and that every inclination of the thoughts of the human heart was only evil all the time.

I personally believe, the Nephilim, who were the offspring of Angels and Humans, is what Christ meant when he said those days wouod be like the days f Noah. One third of the Angels in Heaven left with Satan. When their DNA was crossed with Human DNA, the gene pool became corrupted. Had God not destroyed the race, the gene pool that ultimately brought Christ to earth, would have been compromised.

We were made in God's image . . .but what happens when science begins trying to re-engineer our DNA as they currently are attempting to do?

Anonymous said...

Stocks are OFF their lows by a considerable margin. It would appear that Wall Street Bulls are
back to their old games again...

and RECORD HIGHS are still ahead.

despite the Cyprus problem.

we will see.

Stephen >>>>>>>>>>>

anonemy said...

Let us not forget damascus. Here is a video link narrated by reuters.
Was she quoting isa 17?
" of capital damascus in ruins."

anonemy said...

Mrs.C said...

Sister Robin,
Yes, that is what His Word says, it was evil, as it is today. Noah was Righteous in Gods Eyes, to be saved from His Judgment, just as the Church will be Saved from His Judgment to soon come upon the world.
Wealth or non-wealth, was not the indicator of being in the "days of Noah", but rather the evil and sin that abounds in blindness. Noah stayed obedient during that evil time, and we the Church are to stay obedient during these evil times. We are without question in the "days of Noah" as Jesus said, but it is not based on financial well being (there are rich and poor alike). Rather it is based on the pure evil, pure rebellion against God that we are witnessing in these Last Days, just as Jesus said it would be...the "world" is blind and continues in their sin, "giving in marriage" etc., its "business as usual" for them. We the Church can SEE this, just as Noah did. Noah was Saved by God in the Ark, and Jesus is our Ark that will has and will Save us from the sure Judgment to come...

Anonymous said...

How can demons have sexual relations with humans? They dont have physical bodies, and hence no DNA....

Robin said...

Anonymous . . .did you bother to read Genesis 6:4?

The Nephilim were on the earth in those days—and also afterward—when the sons of God went to the daughters of humans and had children by them.

No mere mortal can answer the question of how that could be . . .but nevertheless, that IS what the Bible says. Whether you choose to believe The Word, or not . . .is up to you.

Robin said...

anonemy said...
Let us not forget damascus. Here is a video link narrated by reuters.
Was she quoting isa 17?
" of capital damascus in ruins."

March 18, 2013 at 8:22 AM


I don't think so. There have been many times throughout history that parts of Damascus were in ruins. The reason it's widely thought that prophecy has yet to be fulfilled, is that the Bible says Damascus will be destroyed as will the fortified cities of Israel.

“This message came to me concerning Damascus: ‘Look, Damascus will disappear! It will become a heap of ruins. The cities of Aroer will be deserted. Sheep will graze in the streets and lie down unafraid. There will be no one to chase them away. The fortified cities of Israel will also be destroyed, and the power of Damascus will end. The few left in Aram will share the fate of Israel’s departed glory,’ says the Lord Almighty.” Isaiah 17:1-3 (NLT)

LN said...

How do you really prepare for something like this when you are already living on the edge. Didn't the Lord say he would take care of his own. Im tired and ready to go home. Come Lord Jesus. Help us in our time of need. Direct us to do your will in these days, protect us, help us to be more like you.

Unknown said...

Anon- Angels are not wispy balls of light or only spiritual in form. An angel held a sword outside of the Garden of Eden. Angels ate food with Abraham before going to Sodom. An angel rolled a stone from a tomb. Angels are finite created beings. I do not see where this explanation of the Nephilim is un-Biblical.