Financial crisis

Warning: European Guidelines for Looting Your Bank Accounts Are Now Official
Published by Philippe Herlin | Dec 18, 2013 | Articles

We’ve already talked about what happened in Cyprus last April : the confiscation of bank accounts over 100,000 euros to shore up local failing banks. We also explained that it was but a rehearsal for future settlement of banking crises : directly looting depositors’ accounts. And, case in point, there is a project being put in place to formalise this procedure.

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IMF Condoning the Plundering of Bank Accounts
Published by Philippe Herlin | Oct 16, 2013 | Articles

As we’ve been saying at the time, the spoliation of bank accounts in Cyprus this last March to save their banks was but a general rehearsal. We’ve also learned that there is a european proposal on the table to have depositors of over 100,000 euros contribute should there be a bank bailout in a Eurozone country. And now, the IMF is contemplating a 10% tax on all deposits (for every household, not only those over 100,000 euros) in order to diminish the sovereign debt.

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