it can’t happen here

Cyprus bail-out leaves ‘bitter taste’ for residents

"Standing in front of a cash machine on a street corner in Nicosia, Andreas Christou could hardly contain his fury. 'My money is in there and they won’t let me take it out!' he said, a few moments after withdrawing a paltry €100 – the maximum allowable after a draconian new capital control measure was introduced on Sunday. The 52-year-old businessman holds an account with Laiki Bank, the hardest hit of Cyprus’s debt-laden lenders. It will now effectively be dissolved under the terms of a deal brokered between international creditors and Nicos Anastasiades, the president of Cyprus, during marathon talks in Brussels." Continue reading →

Continue ReadingCyprus bail-out leaves ‘bitter taste’ for residents

Albany police: SWAT used poor black neighborhood for training because it’s ‘realistic’

"The chief of police in Albany, New York says that his department just wanted a 'realistic' setting when it frightened residents in a poor, predominately African-American neighborhood with SWAT training exercises that included firing blank ammunition and exploding flash grenades. On Thursday, Albany’s SWAT team shocked nearby residents when it stormed a public housing complex that was scheduled to be demolished, according to the Times Union. Photos circulated on Facebook over the weekend showed police in tactical gear, spent shell casings and fake blood." Continue reading →

Continue ReadingAlbany police: SWAT used poor black neighborhood for training because it’s ‘realistic’

Former US Treasury Official: ‘Banks Move To Enslave Humanity’

"What we are seeing, as in Greece, is the response to the effort to make the public responsible for the mistake of private banks. In Greece they forced the people to have wages cut, pensions cut, social services cut, public assets sold off, in order to cover the losses of banks. If they don’t stand with the people, there will be more political and social unrest and more discrediting of governments. What’s happening is governments are revealing that, even if they are democratically elected governments, they do not represent the people. They only represent a very few, very powerful folks. This of course destroys any confidence in democracy. That’s the biggest crisis.” Continue reading →

Continue ReadingFormer US Treasury Official: ‘Banks Move To Enslave Humanity’

Two biggest Cyprus banks limit ATM withdrawals to reduce bank runs

"The two main banks at the centre of Cyprus’s financial crisis further slashed the daily cash withdrawal limits from ATM machines on Sunday, state media reported. With queues growing outside cash machines across the island, Laiki (Popular) Bank cut maximum withdrawals at ATMs to 100 euros a day and the Bank of Cyprus reduced its limit to 120 euros a day, the Cyprus News Agency said." Continue reading →

Continue ReadingTwo biggest Cyprus banks limit ATM withdrawals to reduce bank runs

Ben Swann Reality Check: Central Bankers Want Personal Savings Accounts To Pay For Bailouts?

"A stunning situation is unfolding on the island of Cyprus. Like other countries in Europe, Cyprus is in a debt crisis and is seeking a bailout from European central bankers. But it is the way the EU and Cyprus government has tried to help pay for the bailout that has the entire world paying attention. Ben Swann breaks this story down in Reality Check." Continue reading →

Continue ReadingBen Swann Reality Check: Central Bankers Want Personal Savings Accounts To Pay For Bailouts?

Pictures From A Cyprus ATM Line

"For a few days, the people of Cyprus were calm, quietly and orderly accepting the unreality of the levy being imposed upon them - incredulous that it was even possible. As we reach the 4th day of bank closures, amid rolling rumors and ECB threats, it appears the people have reached a tipping point as this series of images from Cyprus ATM lines indicates - the bank-jog has arrived. When will it become a full blown sprint? It appears the catalyst for this latest move is the ECB threat and EU concerns over the future of the two biggest insolvent banks: As AFP reports: EU calls on Cyprus to set capital controls and merge 2 biggest banks Laiki and Bank of Cyprus." Continue reading →

Continue ReadingPictures From A Cyprus ATM Line

Bernanke: ‘Bank Confiscation Unlikely In America’; ‘No Idea How Much Money We’re Giving The Banks’

"Ben Bernanke does not say bank or wealth confiscation, like we’re seeing in Cyprus, would be impossible here in the U.S. But rather he says it would be extremely unlikely. My question is; Would it have been extremely unlikely for such a thing to happen in Cyprus a few years ago?" Continue reading →

Continue ReadingBernanke: ‘Bank Confiscation Unlikely In America’; ‘No Idea How Much Money We’re Giving The Banks’

The Head of the Cyprus Central Bank is Named Panicos (Panic Us).

"Now the government must open the banks’ doors with no bailout from the EuroGroup, the officially unnamed group of eurozone finance ministers. Cypriots will be able to pull euro currency out of the banks. That will force the Cypriot banks to sell assets. Their value will fall. They will not be able to cover these losses for long — a few weeks. Maybe less. Would you keep your money in a banking system that needs a bailout? Wait a minute. You already do. So do I. Cyprus was the first system to get to the edge of the abyss." Continue reading →

Continue ReadingThe Head of the Cyprus Central Bank is Named Panicos (Panic Us).

Chase “Glitch” Makes Customers’ Money Disappear

"I don't know how much money you have in your bank account, but I'm willing to bet that if you logged into your banking's website and saw $0.00 across the board, you might be a little concerned. Some Chase customers earlier this week found themselves in this exact situation, leading many, as you might expect, to believe that they could have been hacked. Fortunately, no such thing occurred." Continue reading →

Continue ReadingChase “Glitch” Makes Customers’ Money Disappear

A Fiscal Lesson in Cyprus for Americans

"Would the U.S. government ever do these sorts of things? Well, don’t forget that President Roosevelt did it during the Great Depression when he nationalized gold and made it a felony offense to own it, notwithstanding the fact that it had been the official constitutional money of the United States since the founding of the nation. FDR ordered Americans to deliver their gold to the federal government, which paid them off in cheapened, devalued, irredeemable notes. It was a confiscation of wealth no different in principle from that that was done by the Argentine government and that is now being conducted by the Cyprus government." Continue reading →

Continue ReadingA Fiscal Lesson in Cyprus for Americans