The effect of what the financial Mafia have done to the ordinary people of Cyprus, is to fast-track them in a few weeks, into the level of desperate deprivation that was unimaginable a month or so earlier. The economy has more or less been shut down, small to medium businesses can't pay wages, can't continue, so lay off the staff, long term mass poverty across the island, and on a personal basis that could be repeated in similar fashion across the island is the case of a UK couple who bought a house on the island and retired there. Recently the husband died, the woman sold up with the intentions of returning to the UK. Like everybody in these circumstances, after the sale her money went into the bank, and that's the last she has seen of it. If she gets it back it will be after they have chopped anything up to 60%. It's called freedom and democracy.
The fact the this is not a sudden one off, but just one of the many devious and down right criminal arrangements to protect the vested interests of the big boys in the financial Mafia Club is made clear in the following article.
Read the full article HERE:The underlying tendency at the national and global levels is towards the centralization and concentration of bank power, while leading to the dramatic slump of the real economy.Bail ins have been envisaged in numerous countries. In New Zealand a “haircut plan” was envisaged as early as 1997 coinciding with Asian financial crisis.There are provisions in both the UK and the US pertaining to the confiscation of bank deposits. In a joint document of the Federal Deposit Insurance Corporation (FDIC) and the Bank of England, entitled Resolving Globally Active, Systemically Important, Financial Institutions, explicit procedures were put forth whereby “the original creditors of the failed company “, meaning the depositors of a failed bank, would be converted into “equity”. (See Ellen Brown, It Can Happen Here: The Bank Confiscation Scheme for US and UK Depositors,Global Research, March 2013)What this means is that the money confiscated from bank accounts would be used to meet the failed bank’s financial obligations. In return, the holders of the confiscated bank deposits would become stockholders in a failed financial institution on the verge of bankruptcy.
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