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so, this bail out in Cyprus, is actually theft of the savings of so called "rich"
Comments
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The_Green_Man wrote: »Symantics that in no way detract from my point.
So deposits aren't liabilities to the banks?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »So deposits aren't liabilities to the banks?
You're building a Strawman argument. I never said there were or weren't.0 -
The_Green_Man wrote: »You're building a Strawman argument. I never said there were or weren't.
"that £21bn should have been used to fund the bank's liabilities"
Doesn't matter what you think they are."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »"that £21bn should have been used to fund the bank's liabilities"
Doesn't matter what you think they are.
You appear to be using a very roundabout way to say that you think the taxpayer, not the depositor should pay for bank failures. Something you could have said in a single post. To be fair, your tactic for suppressing debate has worked as your contribution has killed the pace/interest of the discussion.
Kudos I guess, though it seems an odd tactic to use on what seems to be a pure discussion forum?0 -
The_Green_Man wrote: »You appear to be using a very roundabout way to say that you think the taxpayer, not the depositor should pay for bank failures. Something you could have said in a single post. To be fair, your tactic for suppressing debate has worked as your contribution has killed the pace/interest of the discussion.
Kudos I guess, though it seems an odd tactic to use on what seems to be a pure discussion forum?
Why did the regulator continue to allow banks to accept deposits when those banks were insolvent?
Who has really benefited from that activity?
The depositor getting their pittance after tax or nothing at all if it is in a current account?
Who dined out on the provident ?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
I dont think people with over $100,000 Euro/pounds/dollars whatever are rich. Even so,unless they stole it,they worked and earned it and it is therefore theirs and it is not for the state or anyone else to steal it from them.Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..0
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C_Mababejive wrote: »I dont think people with over $100,000 Euro/pounds/dollars whatever are rich. Even so,unless they stole it,they worked and earned it and it is therefore theirs and it is not for the state or anyone else to steal it from them.
the banks were private companies
they went bankrupt
they had no money.
the Cypriot government (taxpayers) couldn't give them their money back because they are bankrupt too and have no money.
of course the Cypriot government could have massively increased taxation to give people who had over 100,000 in Cypriot banks but that would cause other problems (like poor people with no money paying to reimburse people with over 100,000)
so what happened was that EU taxpayers (mainly German) gave them lots of money so the corrupt Cypriot banks could be bailed out and pay up to 100,000
what would you have done?
the EU taxpayers bailed them out.0 -
#58
I agree its a perilous situation but it sets a dangerous precedent in that it is now acceptable for Governments to steal peoples personal money.Feudal Britain needs land reform. 70% of the land is "owned" by 1 % of the population and at least 50% is unregistered (inherited by landed gentry). Thats why your slave box costs so much..0 -
Originally Posted by Dreadzone
You have to wander, if the UK was part of the Euro would they have said the same to the UK?Originally Posted by Wookster
Why on earth the lack of interest I wander... DLW is a quality poster... Errrrrr...Originally Posted by Wookster
And we wander why people are fed up with politicians...Mr._Pricklepants wrote: »Welcome back, wookie.
!!!!!!? Used wander too.....;) .....A journey of a thousand miles begins with a single step
Savings For Kids 1st Jan 2019 £16,112
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C_Mababejive wrote: »#58
I agree its a perilous situation but it sets a dangerous precedent in that it is now acceptable for Governments to steal peoples personal money.
the banks were PRIVATE COMPANIES
Germany taxpayers have rescued them.
how have governments stolen any one's money?
what would you have done?0
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