Spain confiscates 0.03% of all bank deposits. - page 5.

Bit_Happy

legendary

Activity: 2114

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A Great Time to Start Something!

Quote from: Sindelar1938 on July 06, 2014, 10:10:06 PM

Cyprus took 47.5% on all deposits above 100k €

It may be small but its just the start, wait and watch

It really went that high in Cyprus? ...wow!
I remember lower numbers at first, and then they dramatically raised the "take".

Irish_BTC

newbie

Activity: 19

Merit: 0

Lets see this for what it actually is. Theft. Pure and simple.

The sole purpose of a bank (in my mind at least) is to provide security for your deposit. I don't care if it is 0.03%, 10% or .00001% the fact that they are retrospectively taxing is theft. Don't expect citizens to play by the rules when you change them 6 months down the road.

cbeast

donator

Activity: 1736

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Let's talk governance, lipstick, and pigs.

Quote from: beetcoin on July 06, 2014, 09:01:25 PM

they're so knee-deep in shit that there's not really much else they can do.

Quote from: Lauda on July 06, 2014, 08:40:13 PM

It's really time that people see the benefit of Bitcoin.

it's not like bitcoin is the only other alternative option though.

What are alternatives besides Bitcoin?

theblacksquid

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Activity: 182

Merit: 100

Quote from: justusranvier on July 06, 2014, 09:38:48 PM

Quote from: theblacksquid on July 06, 2014, 09:28:00 PM

Price stability, merchant adoption and core development funding should be at the top of our priority list.

How do you propose to make price stability a priority? What kinds of actions does that actually involve?

I could be wrong, so bear with me...

If the price doesnt fluctuate by as much as it did in the past 3-4 months, we would be a viable escape route for people getting fleeced by their nation's draconic policies (or in my country's case, uncontrollable inflation).

Encouraging more people to spend their bitcoins for actual goods and services, and not just speculative trading, would be one of the best ways we could help stabilize the price. That, and merchant acceptance.

Sindelar1938

hero member

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Cyprus took 47.5% on all deposits above 100k €

It may be small but its just the start, wait and watch

colinistheman

hero member

Activity: 907

Merit: 1003

Wow, amazing. Taking money just for holding it in the bank. It's punishment!

justusranvier

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Activity: 1400

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Quote from: theblacksquid on July 06, 2014, 09:28:00 PM

Price stability, merchant adoption and core development funding should be at the top of our priority list.

How do you propose to make price stability a priority? What kinds of actions does that actually involve?

theblacksquid

full member

Activity: 182

Merit: 100

Quote from: Soros Shorts on July 06, 2014, 09:06:08 PM

Quote from: Bit_Happy on July 06, 2014, 09:04:01 PM

0.03% is such a small amount for all the bad publicity that comes

That is just the foot in the door.

Give them an inch, they'll choke you for the mile.

This leaves us with the responsibility of making Bitcoin a good place to move their assets to once the banks come down on their necks like a pack of hungry wolves. Price stability, merchant adoption and core development funding should be at the top of our priority list.

beetcoin

sr. member

Activity: 434

Merit: 250

.03% is innocuous, so who knows.. the people there might be just fine with paying such a small percentage.

pedrog

legendary

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Quote from: Bit_Happy on July 06, 2014, 09:04:01 PM

0.03% is such a small amount for all the bad publicity that comes. Didn't Cyprus take 10% or more?

True, that's 0.03 cents on the Euro, so in a 1000 euros deposit the tax is 30 cents.

Actually this law is mostly for cutting bank's profits, as banks will also pay this tax, and they loan a lot of money to each other without any interest, now they'll pay at least 0.03% on that.

Soros Shorts

donator

Activity: 1617

Merit: 1012

Quote from: Bit_Happy on July 06, 2014, 09:04:01 PM

0.03% is such a small amount for all the bad publicity that comes

That is just the foot in the door.

Bit_Happy

legendary

Activity: 2114

Merit: 1040

A Great Time to Start Something!

0.03% is such a small amount for all the bad publicity that comes. Didn't Cyprus take 10% or more?

beetcoin

sr. member

Activity: 434

Merit: 250

they're so knee-deep in shit that there's not really much else they can do.

Quote from: Lauda on July 06, 2014, 08:40:13 PM

It's really time that people see the benefit of Bitcoin.

it's not like bitcoin is the only other alternative option though.

Lauda

legendary

Activity: 2674

Merit: 2965

Terminated.

It's really time that people see the benefit of Bitcoin.

pedrog

legendary

Activity: 2786

Merit: 1031

Plus it also limits how much banks can charge businesses for accepting debit and credit card payments.

joecooin

sr. member

Activity: 359

Merit: 250

I just think this may have the same significance as Cyprus.

And it is only the beginning.

Original article in Spanish:

http://www.libremercado.com/2014-07-04/la-banca-no-podra-repercutir-a-los-clientes-el-limite-a-las-comisiones-de-las-tarjetas-1276523068/

Joe

edit: short version in English: http://globaleconomicanalysis.blogspot.co.uk/2014/07/spain-issues-retroactive-003-tax-on.html

Topic: Spain confiscates 0.03% of all bank deposits. - page 5. (Read 5483 times)