However, the Cyprus Parliament, not wanting to be dragged through the streets by an angry mob, is expected to reject the package in total. As this crapatastic idea was being forced down their throats by a banking cabal that has gotten way out of control, Cyprus now faces default, a possible banking collapse, and a domino effect that could ripple world wide.
The EU says they will withhold anymore bailout funds until their demands are met, which isn't too terroristy is it? Not surprisingly, one of the reasons everyone was initially included was because the Cyprus president Nicos Anastasiades refused a levy of more than 10% on deposits over $100,000. Needless to say, either way, this plan was never going to be popular. What they didn't expect, somehow, is the murderous rage being directed at them. Imagine what it would have been like if they had guns?
With the new addition of exempting the new group from the EU bailout package, the government has not explained how it will make up the shortfall? That sounds familiar. Voting is supposed to happen today but has already been postponed twice for obvious reasons. These guys are between a rock and hard place. Agree to the theft and watch their careers, and perhaps even their lives, drop off the face of a cliff. Turn it down and watch their economy collapse. I do not envy their position. They should be taking a cue from Iceland on what their next step should be. It's the only move they have left.
Some in the media are attempting to play this crisis down as one site said "no bank runs reported yet," which would be a neat trick as the banks are closed until at least Thursday. ATM machines have been stripped of funds as people are pulling everything from their accounts electronically so, in today electronic world, that counts as a bank run. Nice try douchebags.
Fear is spreading that this is going to spread to other countries, with Italy singling that they might implement a 15% tax on all accounts as well. Italy has been much calmer with this than Cyprus, which means we may be watching a beta test, to see what the public will accept. Make no mistake about it: this idea is being floated around every banking group on Earth right now. Whether they will implement it or not depends on how we react to it. Italy is not helping.
The Italian economy is in free fall and is at Depression levels, like most of southern Europe. Thousands of companies in Italy are going under every week due a credit crunch where banks won't lend, people don't have money to spend and everything is falling apart. Just like here. Unemployment in Greece and Spain is rising to a whopping 26 % which is actually worse than here, and it has been doing so steadily for the past few quarters. Youth unemployment there is approaching 60% now, a figure not far off from the US.
Italy has an unemployment rate of, allegedly, 11%. I say allegedly as that number seems awfully low for the conditions being seen there and may be using the same distortion tactics we use here to view unemployment. For example, our unemployment rate is around 23%, not 7% as the government tells us as they don't count people not collecting unemployment any more. Trust me, that's a lot of people. The fact their economy is shrinking is not a good sign either.
Manufacturing is disappearing as everything is being built in China. This is leading to widespread poverty as there are not enough jobs and those that are being offered pay a pittance of what people used to make. Just like here. When you compete against slave labor, you always lose.
The bankers are trying to enslave us, to steal everything for us, and thank them for the privilege. Try that crap here and see what happens. I double dog dare them because if they think Cyprus was pissed, try dealing with 300 million guns aimed squarely at them.
This is going to end badly with a possible world wide Depression, hyper inflation and a complete collapse of government services. All because some greedy douches want everything. Don't let them.
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