How
Personal Wealth Is To Be Tapped By Governments
To Pay National Debts
Disclaimer
Originally published on July
29th, 2014
To
translate this text into any
major language Click Here
PURPOSE
The purpose of this summary of news is to assist the faithful in
recognizing the signs and lies of These End Times.
BACKGROUND
Starting in March 18th, 2013 and concluding on July 11th, 2013 we
brought to light how Cypriots - under the watchful eye of the IMF
(International Monetary Fund) - saw
a great portion of their savings confiscated to, in essence, bail out
the country's economy. The European Union swore on the proverbial stack
of Bibles that such action was a one time event and only in Cyprus.
Later on European Union leaders let it slip that they were working on
legislation to be able to do the same in other European Union countries
if needed. This went unnoticed by most of the population because the
media quickly swept in under the proverbial carpet.
INTRODUCTION
All that we have published
about the Cyprus event and its legal fallout has been reproduced below
without changing a word.
After the last entry, dated July 11th, we will provide a very brief but
striking, in more ways than one, DETAILS how far the logic of - "let
the citizens of a country bail out the country in debt" - has been
taken.
On March 18th, 2013
News Report No. 1
[our highlights]
Cyprus savers to be hit by bailout levy. (1)
Shock
has turned to panic in Cyprus as
the terms of a Brussels backed bailout became known. A one-off levy on
personal savings drove many to withdraw what they could from ATM
machines.
Cyprus is to get 10 billion euros to
stave off bankruptcy but in a
radical departure from previous aid packages, the island's savers are
being forced to pay up to 10% of their deposits to raise another six
billion.
British-born Cypriots and their
families, some of the UK's 3,500
service personnel on the island and holiday home owners will also have
to pay up when the levy comes into operation on Tuesday.
and
The Cypriot parliament's debate on the savings tax that shocked the
entire nation will now take place on Monday. (2)
The
president postponed the debate to
gain time and try and ensure a majority, as for the moment the EU-IMF
imposed levy on savings has raised hackles on all sides.
Rates
will start at 6.75
percent and go to 9.9 percent on deposit accounts. The Eurogroup
expects this will
raise 5.9 billion euros.
Banks may
stay closed until
Wednesday morning to prevent savers making massive withdrawals,
which may prove more of a problem for foreign depositors, who hold 37
percent of Cypriot savings.
miguel de Portugal comments:
The European authorities swear on the proverbial stack of Bibles that
this will not happen in any
other country of the European Union.
Of course, until a couple of days ago this "would have never happened in any country" of the
European Union.
Now, we give you three guesses - although you will only need one -
about what will happen to the money owned by foreign nationals and
which is deposited in "safe" European Union Banks. If the flow of money
out of Europe has been on "high tide" mode for the last year and a
half, they may be facing now a flow of tsunami proportions.
This Cuba-like tactic will not go unnoticed by the non European Union
movers and shakers. One day, Europeans will wake up to the news that
the 500 Euro notes have changed color the Central Bank will only
exchange, say, up to 10,000 Euro in cash.
Radical as such idea may sound, it may be the only answer
to stop the submerged economy of the Mediterranean faction of the
European Union; a submerged economy which is thought, by experts, to be
about 25-30% of the above board economy. Personally, I think is well
over 30%.
By the way, most of the 500 Euro notes are not in circulation. It
is very hard to find one. One needs to notify a bank a few days ahead
if you wish to take out some of your money in 500 Euro notes. Guess
where they are? Under mattresses, cardboard boxes and bulging safety deposit
boxes.
__________________
(1) News
Report 1
(2) News
Report 2
On March 19th, 2013
News Report No. 1
[our highlights]
Cypriot savings grab shocks savers across Europe. (1)
A
plan to seize up to 10 percent of
people's savings in the small Mediterranean island nation of Cyprus
sent shockwaves across Europe on Monday as households realized the
money they have in the bank may not be safe.
A weekend agreement between Cyprus
and its European partners called for
the government to raid bank accounts as part of a 15.8 billion Euro
($20.4 billion) financial bailout, the first time in the eurozone's
crisis that the prospect of seizing individuals' savings has been
raised.
In order to get 10 billion Euro ($13
billion) in bailout loans from
international creditors, Cyprus agreed to take a percentage of all
deposits - including
ordinary citizens' savings.
The surprise deal stoked fears
that deposits in
other countries could be targeted.
"The damage is
done,"
said Louise Cooper of CooperCity, a financial research firm. "Europeans now
know that their
savings could be used to bail out banks."
The euro
and stocks around
the world took a hit even
though the Cypriot economy accounts
for only 0.2 percent of the combined output of the 17 European Union
countries that use the currency.
miguel de Portugal comments:
As we were saying....
And never mind the European depositors. When the "big boys" from
outside the European Union start pulling out their money from the
"safe" European Union banks, the background music playing will be that
of "The Death of a Swan".
The EU is falling apart at the seams and now their "brilliant minds"
come up with an idea that will accelerate their demise.... thus keeping
the "schedule".
_________________
(1) News
Reports
On March 27th, 2013
News Report No. 1
[our highlights]
Bank re-opening delayed in Cyprus. (1)
Cyprus' banks
will now remain shut
until Thursday, following the
island's controversial bailout
deal. Most of them had been expected to re-open on Wednesday.
The Cypriot Central Bank said the
decision was taken to ensure the
"smooth functioning of the whole banking system." The Bank of Cyprus
and Laiki bank are
facing
radical restructuring under the terms of the 10 billion euro rescue plan.
In a televised address, President
Nicos Anastasiades announced that
transactions will be limited temporarily as banks reopen - to avoid
bank runs. "Cyprus was one
step away from financial collapse," he said. "Our choices were
not easy and the environment was not ideal but after tough
negotiations, with persistence and also a sense of responsibility, we
have reached a result that ensures this country's future."
Cyprus may have avoided a euro exit
but the cost to the economy is yet
to be calculated. In the US, stocks fell when Eurogroup
President Jeroen
Dijsselbloem said that the Cyprus rescue would act as a model for the
eurozone.
He later
clarified that
Cyprus was a unique case.
miguel de Portugal comments: As
we stated a few days ago, what was unthinkable to happen in the
European Union, happened in Cyprus. Although the EU officialdom
was busy telling everyone that the Cyprus situation was a
not-to-be-repeated unique case, we had the Eurogroup President spill
the proverbial beans and tell the world that such action "would act as
a model for the eurozone."
[The "model for the eurozone" has the consequences that you will
see on direct on these two brief news clips. (2) (3)]
Once the markets started to crash he quickly backtracked and the
mindless markets bounced back. They now believe that they managed to
pull the wool over "the market's" eyes. The real "movers and shakers",
the individuals who own huge amounts of cash in bank deposits, are not
like the mindless markets - they got the point and will act accordingly.
In plain English: Any individual or business that has huge amounts of
cash deposited in Eurozone banks - no matter how safe the bank may now
appear - will pull their money out. Russia is leading the way.
Such drain in any banking system has only one major consequence: The
financial collapse of the banking system and nation(s) associated with
it. In this case we are talking about the European Union as a whole.
It is amazing to watch it unfold before our eyes while the eyes of
those in charge cannot see what should be obvious to all. The level of
blindness God has allowed upon them even surprises me!
The masses are getting restless and we see the 21st century version of
the French Revolution (4)
- applied in the whole European continent -
shaping up in Europe.
_________________
(1) Euronews
Reports
(2) View
an example from a professional man who is not rich
(3) View
what the youth has to say
(4) The
French Revolution and The End of These Times
On March 28th, 2013
News Report No. 2
[our highlights]
More on the European Union soap opera.
Tuesday night and Wednesday morning Europe saw the Spanish and French
Presidents - in a joint Press Conference - resolutely stating that the
Cyprus confiscation of private funds, to help in their own bail out,
was just limited to Cyprus and
would not apply to any other European Union country.
In the meantime - the Wednesday morning key dailies in Spain were
announcing the progress made at the European Union headquarters as they
polish the procedure that they have applied in Cyprus so that it could
be easily (and legally) applied to any other nation of the European
Union. In other words: They are preparing a "template procedure" easily
applied to any other nation in short notice.
We are finding difficult - if not impossible - to meet a local
resident, regardless of party affiliation, who take their government -
and that of all European nations - seriously.
To help you understand the Eurozone in crisis (which, believe it or
not, will help the U.S.-U.K. axis) , we invite you to review what
Euronews has published about it.
The
eurozone has difficulties overcoming the economic crisis. Markets
remains fidgety. Government debt, Government deficit, GDP growth,
unemployment, youth unemployment: five figures to sum up the crisis
between 2007 and 2012.
Debt, deficit, GDP, unemployment: the
crisis key figures
miguel de Portugal comments:
And you thought we (the U.S.) were in bad shape....
On June 28th, 2013
News Report No. 1
[our highlights]
Europe strikes deal to push cost of bank failure on investors. (1)
The European
Union agreed on
Thursday to force investors and wealthy savers to share the costs of
future bank failures, moving
closer to drawing a line under
years of taxpayer-funded bailouts that have prompted public outrage.
After seven hours of late-night
talks, finance ministers from the
bloc's 27 countries emerged with a blueprint to close or salvage banks
in trouble. The plan
stipulates that shareholders, bondholders and depositors with more than
100,000 euros ($132,000) should share the burden of saving a bank.
The deal is a boost for EU leaders,
who meet later on Thursday in
Brussels, and can show that they are finally getting to grips with the
financial crisis that began in mid-2007 with the near collapse of
Germany's IKB.
"For the first time, we agreed on a
significant bail-in to shield
taxpayers," said Dutch Finance Minister Jeroen Dijsselbloem, referring
to the process in which shareholders
and bondholders must bear the costs of restructuring first.
The rules
break a taboo in
Europe that savers should never lose their deposits, although
countries will have some flexibility to decide when and how to impose
losses on a failing bank's creditors.
miguel de Portugal comments:
When they recently pulled this trick on Cyprus, they swore on the
proverbial stack of Bibles that such was a one time event and would
never be applied as a European Union wide policy. We wrote about it
back in March. (2)
Now, picture this: Eurozone, June 27th, 2013..... The Eurozone economy
cannot get restarted no matter what they say and or claim to do. Credit
is all but non existent since the banks "do not have enough (real)
money to lend". No credit, no growth; no growth, greater unemployment;
no new jobs, no new spending; no spending, no growth; and so on.
Now, they come up with this "brilliant" idea. It logically follows that
all foreign nationals - individuals and corporate - will pull out all
of their money from the Eurozone.... an action to be followed by
the wealthy Europeans. This will leave the Banks with a few sea shells
and soda pop caps to lend so that the European economy gets restarted.
Brethren, this is really troubling. Troubling because economics
certainly is not my strength (actually, I am quite ignorant about economics)
and I can see the monumental idiocy of the actions that the European
Union rulers continue to take.... and they obviously do not.
Not only do they lie through their teeth to their citizens, but do not
take any action that will really pull Europe out of the crisis.... yet
they believe that they are in a position to tell the U.S. how to run
our business.
Amazing; simply amazing!
_________________
(1) News
Report
(2) March 28, 2013, News
Report No. 2
On July 11th, 2013
News Report No. 1
[our highlights]
Currency Controls in Cyprus Increase Worry About Euro System. (1)
On a
visit to Athens this year, Marios
Loucaides, a Cypriot businessman, saw an apartment he liked in the
heart of the Greek capital and decided to buy it. He told the owner he
would seal the deal with a bank transfer .... once he got back to
Cyprus.
After returning home, however, Mr. Loucaides
discovered that the
euros he had on deposit here in Nicosia, Cyprus' capital, could not be
moved to Greece, even though the two countries share the same currency
and, in theory at least, the same commitment to the free movement of
capital.
The apartment deal collapsed. And so,
too, did Mr. Loucaides' belief
that Europe has a common currency. Tangled in restrictions imposed in
March as part of a bailout for the country's ailing banks, a euro in
Cyprus is no longer the same as one in France, Germany or Greece.
"A Cyprus euro is a second-class
euro," said Mr. Loucaides,
the managing
director of the Cyprus Trading Corporation.
miguel de Portugal comments:
This is how the Eurozone and the Common Currency is collapsing while,
as with the Titanic (2),
the "Euro Orchestra" keeps playing music.
Notice Mr. Loucaides' position - Director of the Cyprus Trading
Corporation.... and yet, he was not even aware that the "common
currency" was not that "common" anymore.
_________________
(1) New
York Times Reports
(2) Nearer My God to
Thee
Now, for the.....
DETAILS
Summarizing in plain layman terms and cutting through the IMF double
talk:
The day when the citizens of any nation
will be called upon to pay the national debt through: (a) Outright
confiscation of funds as was done in Cyprus and could be done at any
time in any European Union member nation; (b) withholding part of the
Social Security (or its equivalent) retirement income; (c) Extending
maturity date of the formerly safe government bonds so far into the
future that it will be equivalent to confiscating them; (d) etc.,
is at hand.
The original IMF documents where they double talk the reader through
what we have simplified above are:
Financial
and Sovereign Debt Crises:
Some Lessons Learned and Those Forgotten - Carmen M. Reinhart
and
Kenneth S. Rogoff © 2013 - International Monetary Fund WP/13/266 -
IMF Working Paper Research Department Financial and Sovereign Debt
Crises
Statement by the Managing Director on
the Work Program of the Executive
Board Executive Board Meeting
The Fund's Lending Framework and
Sovereign Debt - Preliminary
Considerations : The Staff Report prepared by IMF staff and completed
on May 22, 2014 for the Executive Board's consideration
All of this takes place under the leadership of Mrs. Christine Legarde
who was made head of the IMF to replace the well crucified and then
current IMF head - Mr. Strauss-Khan. Regardless of the carnal morals or
lack of them of Mr. Strauss-Khan, he obviously would not have gone
Legarde's route thus the permanent destruction of his career in any
public sector was "a must".
CONCLUSION
We publish this information in keeping with the purpose for which we
publish and comment upon other news events, and which was spelled out
at the beginning of this document: To
assist the faithful in recognizing the signs and lies of These End Times.
Why? Because all anyone can do about this is pray.
Even if one would transfer all assets owned - including future
retirement payments - into solid gold coins, it would not matter. When
all is said and done one could not even change the gold coins into
monetary instruments to buy bread and milk.... assuming, of course,
that God allows humanity to reach that point.
EPILOGUE
Could this be the reason behind all the "conspiracy theory" talk about
the preparations by the U.S. authorities to deal with with massive
nationwide uprisings?
Published on July 29, 2014
© Copyright 2014- 2021 by The M+G+R Foundation.
All rights reserved. However, you may
freely reproduce and distribute this document as long as: (1)
Appropriate credit is given as to its source; (2) No changes are made
in the text without prior written consent; and (3) No charge is made
for it.
The M+G+R Foundation
About
Us || Frequently
Asked Questions || Disclaimer
Our Research Department
Please Note: If the above dated image does not appear
on this document, it means that you are not viewing the original
document from our servers. Should you have reason to doubt the
authenticity of the document, we recommend that you access our server
again and click on the "Refresh" or "Reload" button of your Browser to
view the original document.
If you wish to contact The M+G+R Foundation, please
access our Contact Page and follow the
instructions.