Cyprus is short of money, so it will raid personal bank savings for tax revenue - Page 3 - TigerDroppings.com

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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
14976 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

If only there was a decentralized, digital currency that the government couldn't touch...
You should ask the people who operated poker sites how government couldn't touch their customers. If your internet connection utilizes any nodes that government has access to, then government has access to your decentralized, digital currency, and they can not only touch it they can regulate it or take it from you. Currency is only valuable if you can trade it for goods and services. What is a bitcoin worth if no one will accept it because governments will punish those who participate in, or facilitate, the trading of bitcoins over the internet?






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Lsut81
USA Fan
Member since Jun 2005
63196 posts
 Online 

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

riots in the street as there should be


I think a mass armed run on DC would occur.






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Malik Agar
USA Fan
Member since Nov 2012
614 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


Banks would be targeted so fast. If you take 10% out of peoples bank accounts or 401ks you would see some very respectable people doing extreme things.





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llfshoals
Alabama Fan
Member since Nov 2010
1397 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

You need to join my bitcoin threads



If you're stupid enough to think the government can't get to that, you deserve to lose everything.






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Poodlebrain
LSU Fan
Way Right of Rex
Member since Jan 2004
14976 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

Before or after they have taken all the guns?
There is no way the government will get all of the guns. And the people who are willing to break the laws to retain possession of guns would likely have little qualms with using those guns against members of Congress to exact retribution. And the elections to replace the deceased members of Congress would see people elected who had a greater respect for the Constitution out of respect for the people's response.






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AlaTiger
LSU Fan
Alabama
Member since Aug 2006
12764 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

If our govt did this, what would be the response???


I think they are already doing it. I wrote this a few posts up . . .


quote:

This is why Obama & Co. are not worried about the $16 Trillion debt. They have the full wealth of the private holdings of the United States in reserve. This is around $60 Trillion. What keeps them from tapping in to that? My guess is that they are using it for collateral now and have been for some time - as though they own it.



This post was edited on 3/17 at 7:59 pm


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NC_Tigah
LSU Fan
Member since Sep 2003
50526 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

While Cyprus accounts for less than half a percent of the 17-nation euro economy, the raid on bank accounts risks triggering new convulsions in the financial crisis that began in 2009 in Greece. The tax is “a worrying precedent with potentially systemic consequences if depositors in other periphery countries fear a similar treatment in the future,” Joachim Fels, chief economist at Morgan Stanley in London, wrote in a client note.

Scenes of Cypriots lining up at cash machines raised the specter of capital flight elsewhere and threatened to disrupt a market calm since the ECB’s pledge in September to backstop troubled nations’ debt. With no government in Italy, Spain in the throes of a political scandal and Greece struggling to meet the terms of its own bailout, more turmoil could hamper efforts to end the crisis.

‘Sell Euro’
The euro fell below $1.30, sliding 1.5 percent to $1.2926 at 10:48 p.m. in Frankfurt. Anticipating gains in haven markets, Bill Gross, who runs the world’s biggest bond fund at Pacific Investment Management Co. in Newport Beach, California, said on Twitter that the concern in Cyprus “moves risk-on trade to backseat.” He added: “Sell euro as well.”

LINK






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boosiebadazz
Member since Feb 2008
45284 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


what happened in greece when they rioted?

you're right that the "savers' are the more responsible and dont have much revolutionary spirit, but everyone has a line and i think taking people's money from them would be the line






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shutterspeed
Southern Miss Fan
Da Sipp
Member since May 2007
33759 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


I pay into both SS and a state pension, so I'm pretty sure my shite got raided before I even got started.





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Godfather1
Army Fan
SE Louisiana
Member since Oct 2006
31320 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

IF there was a bank run here for less severe reasons would people still defend Obama?


Dude, there are people on this board alone who would defend Obama if he killed their mother, barbecued her corpse and ate her.






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aaronb023
LSU Fan
Boxtard Baseball Club
Member since Feb 2005
10381 posts
 Online 

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


I think you might see a couple of other euro countries try this. there are still several there in bad shape





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boosiebadazz
Member since Feb 2008
45284 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

Dude, there are people on this board alone who would defend Obama if he killed their mother, barbecued her corpse and ate her.


just as there are people who would criticize him if he cured cancer while saving kittens and helping old ladies cross the road

it goes both ways






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NC_Tigah
LSU Fan
Member since Sep 2003
50526 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

Dude, there are people on this board alone who would defend Obama if he killed their mother, barbecued her corpse and ate her.
That would be a bitch









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CamdenTiger
Member since Aug 2009
26997 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue








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CamdenTiger
Member since Aug 2009
26997 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


This is very worrisome. Are we fixing to see a run on all the banks, with broader implications. Why put your money in banks??????This could get ugly, even here....





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poe tay toes
Member since Jan 2012
179 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

What keeps them from tapping in to that?


2nd amendment






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THRILLHO
New Orleans Saints Fan
New Orleans, LA
Member since Apr 2006
33581 posts
 Online 

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

it's hard to know the far-reaching implications of this one-off deal.


That's my favorite part of the whole thing, the constant reference to it being a "one-off." No one is going to believe that. The money will be taken from the people, and they'll STILL show up in droves to pull their money out and stuff it into mattresses. We may see it happen in other Euro countries as well. If it has a major effect on the Euro economies, it will hurt us, so I'm not looking forward to it, but I'm fascinated by what will happen.






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Kashonly
Iona Fan
Member since Jan 2006
27462 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

Cyprus is short of money, so it will raid personal bank savings for tax revenue


makes sense

the general public received services from government but but didn't pay enough to cover the costs

that extra money that wasn't needed was saved

so taking from the bank account is just paying for what was originally owed

You can call it theft, or you can just say....hey I got to borrow money for a decade w/o interest.

really just comes to glass half full/empty mindset.



This post was edited on 3/17 at 9:03 pm


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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
292612 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue


quote:

the general public received services from government but but didn't pay enough to cover the costs

that extra money that wasn't needed was saved

this is a huge logical leap that destroys your argument






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boosiebadazz
Member since Feb 2008
45284 posts

re: Cyprus is short of money, so it will raid personal bank savings for tax revenue








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