US Treasury Department tightens the noose
(Reuters) – The Obama administration is drawing up plans to give all U.S. spy agencies full access to a massive database that contains financial data on American citizens and others who bank in the country, according to a Treasury Department document seen by Reuters.
The problem with expating. Overseas banks don’t want to deal with U.S. customers. A lot of countries if you don’t have a local bank account you can’t sign a rental agreement or have utiltiies hooked up. Since they require your local bank info incase you don’t pay they can ACH you.
After the actions in Cyprus, it is clear that the concept of a bank as a safe keeper of assets is diminished. If the government has the right to know (WITHOUT CAUSE) every minutia of detail of every financial transaction one may make, then it is no longer safe for a citizen to use a bank. This is pure incentive to go towards a cash-only society.
(I choose to give big brother the one-fingered salute.)
I pay my taxes, in full and on time. I do not trust the government enough to believe they will not steal more of my money, just as the government of Cyprus stole from its citizens.
Cyprus is charging a levy between 6.75-9.9% to hold money in checking/savings accounts. Hope that does not spread.
This will stop the repatriation of Greek money to their “troubled” domestic banks that was slowly picking up. I bet the Greek ATMs will be empty by this evening, and the news will spread to the rest of the southern eurozone.
Shock in Cyprus …
http://www.bbc.co.uk/news/world-europe-21814325
“THEFT”… BLATANT THEFT…..THE PEOPLE “MUST” SUE THE GOVERNMENT , & THOSE WHO AUTHORISED THIS SHOULD BE SENT TO PRISON………imo impeach.
Alas, the government of Cyprus, just as the governments of UK and US have no-suit clauses. i.e. the government may not be sued unless it agrees to be sued.
(I guess no-suit really does mean the King is wearing no clothes.)
Prison? You are too kind. And by the way, no need to look for Mme Lagarde in her bedroom, she sleeps in the tanning bed, inside of the reptilian cage.
Coming soon to an ATM near you.
A levy? How would that work? A 1 time fee of 10% or by the month/year?
Strange, the powers that be want drug money laundering but not working peoples accounts, then of couse if a person goes to cash they get on the fbi terror suspect list. Just wow, a mirror image of a ridle within an enigma, or is it a genuine copy of a fake de orr? Probly becomes obvious what is intended when camps are occupied, looks awful strange now to anyone that connects dots.
I would just like to wish you all..A VERY HAPPY ST PATRICK’S DAY.
Just another reason to drink, huh Irish. :).
The same to you Tony, we have a parade in Toronto every year to celebrate St. Patrick’s Day, two days ago I was walking with my wife on College St. and I noticed a number of Irish pubs which will be filled with revelers tonight and tomorrow. This city is very mindful of it’s Irish connections. DT
Thank you for boosting the sunglasses industry!
http://www.washingtonpost.com/blogs/early-lead/files/2013/03/notredame2.jpg
impeach……Yeah see what you mean
My comment was a meant to be a joke. FWIW.
Interesting this U.S. treasury thread today. Paul Craig Roberts ex treasury secratary is at kwn today.
Roberts believes deregulation is why we are in this mess.
Is there anything a government is competent to do with efficient? (Except waste time any money)
I told you guys a couple of days ago a friend who runs a small company in Illinois was moaning about the paperwork for Obamacare; well, apparently, it is almost as bad for each individual:
http://news.antiwar.com/2013/03/14/iraq-war-could-cost-6-trillion/ Iraq war could cost $6 trillion, not to mention the loss of human capital and the destabilizing of the middle east, and the morality………………. DT
Regarding the Cyprus bail-out:
Isn’t it strange that the levy is charged against the depositors not against the bond-holders that loaned the money to Cyprus?
This action seems to me to be nothing other than quasi-legalized theft.
The depositors placed money in the banks for safe-keeping. They had NOTHING TO DO with the mess the country is in. They were not responsible for government overspending. They were not supposedly being rewarded for loaning money to the government as bond holders were;the depositors getting much lower rates of interest than bondholders. Yet it is the depositors who get the shaft. WHERE IS THE MORAL JUSTICE IN THIS?
IT IS THEFT, pure and simple, simply because the depositor have the ability to pay.
I have always stated that lawyers have no ethics, no ethically moral core and Christine Lagarde, who used to work in Chicago until a year ago, indeed, upholds my belief yet again. (Rant over)
If this kind of precedent in Cyprus is allowed to stand, no depositor is safe anywhere.
A bank becomes no longer a place where one can safely store money, but simply a place from which a government may more easily steal one’s money.
This is so brazen that I have trouble explaining it by either stupidity or malice.
The 100,000 euro per account once pompously “guaranteed” by the EU is gone, kaput, disparu! Wrecking the last bit of trust in the eurozone and accomplice banks must be a part of a bigger plan.
Monday is a bank holiday in Cyprus and Greece, as is the 25th. For bank customers in the rest of the eurozone, this gives them one day to clear their accounts out on Monday. Or one minute in the morning if there is a line in front of the bank? Tough luck if they intend to get something else from the teller than eurozone paper: markets in Asia will already have reacted; promises to be a busy day for the world’s Central Banksters, the PPT — as well as the coin shops.
Things that are unbelievable today become accepted quickly and easily. That’s a principle reason why I think confiscation is very much on the table. Unthinkable in 2008? Yep. Unthinkable in 2012? Maybe. Unthinkable in 2020? Accepted outcome. Understanding history isn’t just specific events, but the way minds of the masses worked. The human brain is very adaptable — for good or for bad.
Of course, the smarmy MSM will find a way to smooth it over like it’s no big deal, that in fact, we should have seen it coming (the catchphrase for unthinkables after they’ve occurred).
The direct theft of people’s savings in Cypress this weekend has to really make you think about having your finances seperate from the banking system and untraceable to government confiscation.
This is a BIG deal that should make people want some security outside of the financial system. Gold and silver bullion seem an excellent way.
It has strongly driven home the point for me, and I was fully aware of the need for precious metals even before this. WOW. This feels like one of those black swans.
Savings account rates below .3% is basically the same thing.
http://www.businessinsider.com/cyprus-bailout-risks-europe-bank-runs-2013-3
I see I am not the only person that thinks the Cyprus precedent in the language Christine might understand incroyable….unbelievable.
This really should be good for the best store of wealth- GOLD
Monday is going to be interesting.
No, not right away at least. The MSM, investment banks, etc. will have many ways of dissuading. Besides, if it doesn’t affect someone in Asia, or any other part of the EU, or the Middle East, then it’s just a news byte that will be easily read and discarded. Besides, Central Banks haven’t nearly finished their accumulation yet. They need lower prices still.
The US government IS ALREADY STEALING FROM ITS SAVERS by lowering interest rates to zero.
I guess it is just one more simple step to physically STEAL by confiscating 10% of the deposits.
A revolution is overdue!
Socialism is legalized theft.
You listen to the anti gold guy?
And if you beginning to think banks are not as safe as you used to believe, consider this: The location where the most money is, is in IRAs 401Ks and pension funds.
Do you believe these are really safe? Really!
“I’m from the government and I’m here to help you”. Really?
This article got me to thinking.
http://www.dailyreckoning.com.au/the-young-are-going-to-get-screwed-by-debt-part-two/2013/03/14/
Why is there not a prison for creators of PUBLIC debt?
I think our political leaders who overspend on our behalf.
I think our political leaders who borrow and borrow on our behalf.
I think our political leaders who, when no longer able to borrow, print money on our behalf.
SHOULD SPEND SOME TIME IN PRISON, to ponder the wisdom of their actions.
http://www.youtube.com/watch?v=YDXtHsz2q6Q&feature=player_embedded
I am hoping thats the link to “the great cyprus bank robbery by financial terrorists” U Tube
Found it on Max Keiser, common sense in the common tongue, its not for kids.
benb,
While I might agree with the sentiment expressed on utube, I find the language used most distressing. Please place a warning or do not post such language.
I did post a warning CFS, thought “not for kids” was clear, also Common tongue is kind of a clue too I would think, also its language you could hear anywhere from an upset person, and he is also justified. No body is hurt unless we have children on this site, maybe I should have said “not for Children” no offence is intended.
You are right, benb, in my dotage, I was too anxious to see the video to take heed of the warning.
benb & cfs…….The man has every right to use any language he deems fit to get his message across, We need millions of people like him screaming their heads off , then maybe millions more might start paying attention….imo.
I did not watch the whole video. I was turned off by the language.
Frau Merkel stood firm to protect German tax payers.
I imagine brisk sales of “secure boxes” at Wally*World and Cdn Tire in coming weeks.
http://www.canadiantire.ca/AST/browse/3/HouseHome/SafetySecurity/FireSafes.jsp
There’s more to Canadian Tire, than just tires.
Ben Davies on Twitter:
http://i46.tinypic.com/2ur163t.jpg
I watched benb 9:05 am you-tube link right after watching Irwin’s link from the weekend show to Evangelist John Bishop.
I have an admiration for people who can coherently communicate ideas. Suffice it to say the two presenters had vastly differing styles.
I was more offended by what the you-tube presenter described than I was the language he used to describe it. For as we have already scene today’s fiat monetary mayhem and fiscal fiasco has directly caused multiple conflicts resulting in violence and death. What word do we use to describe such evil? I would suggest any word is too tame. As we have already and will continue to witness unfortunately words are not enough to address the evil we now amongst.
words unfortunately no matter how descriptive
This guy is a taxi driver, I dont think we can get more common person than that, altho because a person drives a cab doea not mean he is not educated or a “good” man etc. But it would be hard to find a position more in touch with “the people”.
My point, these are the people that will actually do somthing if anybody will, I have heard this guy before, but not like this, he is upset big time because he understands what it means, we could have a bank run here, this could be what Jim Willie was talking about.
These guys ARE criminals, they are psycopaths, just like he says, think about it, the government gaurentees the safety of 100,000 then the banks take 10%, what happens when they realise 10% is not enough to pay off those TRILLIONS AND TRILLIONS in derivitives. Another point, its ALL THE SAME BANK, here in N.A. and europe, its all goldman saks, britan,canada and france sold their gold to supress the price, its not just Browns Bottom exposed, its all of us.
The question for me is, What can be done about it?
Your deposits are not the only thing that can be destroyed like Cyprus.
Not to give them any ideas but what would stop the Fed from cancelling all Federal Reserve notes with a serial # ending in 3. Ten percent of the physical currency float destroyed. Or bring in all the green ones to exchange for the new blue ones.
Wait, you don’t want to upset the Chinese! Make that the serial # ending in 4, allow them to sort these out first, and send all of them over to Australia in exchange for raw materials.
“LET CHINA SLEEP, FOR WHEN SHE WAKES, SHE WILL SHAKE THE WORLD”
….NAPOLEON BONAPARTE.
Your talking about the “red” bill conspiricy theory, changeing all the bills from green to red, then the green ones over a period of time become valueless. Alot of benifits to the U.S. government. This idea has been around awhile. I am sure the government has options. What I was wondering was if there is anything that I can be done to oppose these criminals. Useing cash is good but as usual people dont understand whats going on.
Why do you think they are attacking the second amendment?
benb……….TREE’S & ROPES COME TO MIND.
A knowledge of history is important.
The webcast on this page is worth listening to:
http://www.stockopedia.co.uk/content/bill-still-podcast-the-secret-of-oz-34163/
I agree with the allegory take on Baum’s classic.
Baum fervently denied it.
After commercial success Baum received as much mileage out of the tale than Schulz did from Charlie Brown and Peanuts.
When asked directly he denied the connection but you have to grasp he was protecting his meal ticket.
It was like he was cleverly taking on the church during the inquisition.
For him to admit the connection would have tainted the tale.
When asked if the name Oz was a reference to the abbreviation for “ounce” he denied it saying the name was contrived from a file cabinet’s second draw labeled for the last 1/2 of the alphabet 0-Z.
I thought Baum was both telling an economic allegory which he weaved in to a fairy tale version of a Faustian tale.
I always felt Dorothy was a fairy tale version of The Faustian character Gretchen.
I always thought “gone with the Wind” was a better film!
Maybe I should re-evaluate!
No. Dorothy’s slippers should not have been red.
What an example who does not get it and cannot see the irony, that he is doing just what the Cypriot government did to get into its problems……overspend, borrow, overspend,…
I’m getting depressed.
http://news.antiwar.com/2013/03/14/iraq-war-could-cost-6-trillion/
Maybe too much knowledge is dangerous! Time to pick up a fictional novel.
Maybe Vince Flynn, where the US is often good . Yep. Good fiction.
cfs, your right, dont overload, really, there is not much that can be done, other than what we can do individually, trying to educate people seems useless, and there are alot of people trying, but dont get depressed, this criminal garbage is way bigger than the people on this or any other site. Take a break if you have to, I know I do from time to time, what these “slimballs” do breaks my heart over and over and I havnt found anything I can do about it other than vent, use cash I guess and change my currency for PM.
Luckily, I’m in the process of leaving the US.
Should be complete before the end of next year. It just takes a long time to dig out all the roots, selling houses, etc..
Well, I wish you all the best,I hope there are not too many obsticles over that time period. If I had the option I would leave N.A. too.
The most scary thing is not knowing if I will ever be allowed a visitor’s visa to ever enter the US again.
Not March 21 yet, but perhaps European Spring is about to start.
http://www.zerohedge.com/news/2013-03-17/cyprus-depositors-vent-fury-through-social-media
FX Markets open in europe; Euro down heavily.
Typical we wait for a black swan event , & we get a whole flock all at once .
CYPRUS……I think this time “THEY” have shot themselves in both feet . “THEY” have just stolen from the people in broad daylight . “THEY” have shown their hand , “THEY” pick on the smallest to see if “THEY” can get away with it , & if so then everybody is a target…but “THEY” overlooked the backlash , now “THEY” are panicking , “THEY” have just extended the bank holiday into Tuesday , & rumor going around it might even be Wednesday , because “THEY” know as soon as the banks open, there is going to be a run……I wish to add this story is getting a lot of coverage across Europe , but from what i can gather it is been played down in the States. I can not believe the Germans were asking for a 40% haircut…
What planet do “THESE BASTARD’S THINK THEY ARE LIVING ON.”!!!!!!!!!!!!
BTW……Who would have thought that “LITTLE CYPRUS” was the card at the bottom of the house of cards that would bring the whole lot crashing down………….
BIG MISTAKE YOU FOOLS FOR REMOVING THAT CARD.
Whoa!
It was not long before the thin edge of the wedge driven in Cyprus thickened out.
German bank suggesthttp://www.zerohedge.com/news/2013-03-17/german-commerzbank-suggests-wealth-tax-italy-nexts Italy next…..
D*mn near media black-out in US. Irish….nothing on “news” radio
cfs……Thats what i said…..what news there is is buried deep down, i scoured for hours & only found snippets…….Somebody’s are running scared!!!!!!!!!
EVEN THE BBC ARE RUNNING IT…..WHAT A SURPRISE.
Naturally Cypriots are against the development, but only 71% !!
http://www.sigmalive.com/news/politics/35561
The government propaganda is working to some extent. Minimum outrage.
Sigmalive website has a translation button.
Main talk in Greece is about a football player giving a Nazi salute, not about banking crisis!
Cypriot radio is claiming several billion Euros left the Island in the last few days.
$1.7 billion euros on Friday.
Obviously some politicians had advance knowledge. Bet they got everything safe for themselves.
This smells.
There are a lot of anti-German comments in the social media.
Don’t know why. Maybe politicos trying to shift blame?
I don’t see how the haircut in accounts does not violate EU law which guarantees the first !00,000 Euros. That was a Brussels edict,not individual countries as I recall.
The Greek footballer, who celebrated a goal with a Nazi salute has been banned for life from international football.
Plus ca change, Plus c’est la meme chose.
Some light relief:
http://www.youtube.com/watch?v=coDtzN6bXAM
Finally News from Reuters….
http://www.reuters.com/article/2013/03/17/us-cyprus-parliament-idUSBRE92G03I20130317
Al posted the audio to this before…body language adds an interesting dimension to the panel’s dynamic:
Gold goes up like a bat out of h*ll in Asia
Gold up $16, Platinum up $12 already
watch 0830 EST.
Irish just for you. Ag up 36 cents
cfs……YIPPEEEEEEEEEEEEE………….until JPM bursts my bubble!!!!!!!!!!
Why don’t more people study The 1930’s depression, this one is going to be much bigger but what happened then is the banks folded because they weren’t solvent, and anybody who had money left in the banking system put it under their mattress’s, what does it take even people on this sight to think that 1930’s doesn’t mirror now. DT
LISTEN PEOPLE WHAT IS PLAYING OUT IS A REPEAT OF AN OLD THEME, got it, I know I do. DT
We will see deflation, don’t be stupid and believe otherwise, hyperinflation is the game they are playing on your head. DT
DT, if you had been paying attention, you’d know that it is DEFLATION that all the headlines want you to worry about. The financial shills have been beating the “fear deflation” drum for years to provide cover for all of Ben’s printing. Deflation “is the game they are playing on your head.”
We have deflation in real terms, that’s all. Deflationists have been dead wrong for years in dollar terms. They/you will remain wrong.
Just so we’re clear on your thinking, do you expect $1000 gold? $500? $20.67? Don’t be stupid, give us some numbers.
1930s do NOT mirror
This is an inflationary depression, not deflationary. IMHO
This will mirror Weimar, more than 1930
Too bad for you!! DT
USD down, Euro down, yen down, Rand up strongly!
KItco has dollar up USD up???
It sounds like you are panicking and unsure, I am not! DT
Sorry. When dealing with currency the dollar index is up, because it is measure mostly against the euro.
When looking at Hong Kong the US dollar is down because it is measured against HK$
Are you sure you don’t have vested interests one minute calm the next minute panicky. DT
Not panicking, just trying to put up info as fast as I can.
Time will tell over inflation versus deflation.
……………………………………………..NEWS FLASH…………………………………………………………………
Gaggle of Black Geese seen over Europe….
Sorry just came over the wire……………
>>>>>>>>>>>>>>>>>>FLOCK OF BLACK SWANS SEEN OVER EUROPE<<<<<<<<<<<<<<<<
Happy St. Patrick’s Day. DT
Australian dollar holding up well, despite massive migration of birds.
nice Sunday opening in Gold and Silver.
DT, If you “know” it is a deflationary depression, would I be right in assuming you have tons of cash under you mattress or whereever, rather than gold.
Most other items, land, housing,art, etc. all went down.
CFS, DT sounds like someone who might have bought gold/miners high and sold low – probably with leverage. Whether we’re talking gold the nasdaq, or tulips, MOST participants buy wrong, then sell wrong. Such a program can be devastating.
He’s indicating to short the general market at the appropriate time, I believe.
My screen is showing an increasing divergence with Kitco:
London Pt hovering around $1600
Kitco says $1591
I did not know Angela had buckteeth:
http://www.zerohedge.com/news/2013-03-17/angela-its-whats-right-merkel-parody-paraded-greece
Check out what Joe Kennedy did in September of 1929, and again after October, it’s better to be early than late but get your priorities right, gold is insurance, nothing more nothing less. DT
Check out what David M. Kennedy wrote in 1999..”Freedom from Fear – The American People in Depression and War, 1929-1945.
Referencing 1929
“Extravagantly available credit did not itself cause a fire, just as fuel does not cause a fire, but excess credit was both the fuel and the accelerant.”
“stock prices continued to plummet freely down the same celestial void which they had recently and so wondrously ascended. The stark truth was now revealed leverage worked two ways.”
Kennedy was a booze smuggler. Are you suggesting I do that?
I consider taking of money as stealing of my labor. i.e. slavery.
I wonder if I could use the UN to get politicians arrested.
Booze smuggling was his early mantra but what really made Uncle Joe rich were his connections with wall street after prohibition. Nobody can rest on their laurels for very long and The Kennedy’s would never have made it big if they couldn’t re-invent themselves. DT
This Cyprus problem really is an insolvency in the European banks and where have we seen this before. They are playing people for suckers but if the sheeple understand anything it is “don’t take money from my account that I didn’t authorize.” If you don’t think they are very worried about you just withhold one payment from them and you will be a marked man. DT
I hope that Utube is not true
We are all ready in financial collapse.
The era of Big Data by Big Government for Big Control will only leave more people in society marginalized because it’s complexities will be too hard for most people to understand and function properly. What we have now are non productive employees everywhere who can’t function on the day to day because they don’t understand the changing technology and the companies don’t take the time to properly train them for their positions. Have you ever tried to fit a square luddite in a round hole? Big Data will leave society in the hands of a few and mostly the criminal element. DT