Wealth confiscation goes global | Bitcointalksearch.org

cr1776

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Quote from: ?? on ??

Quote from: wachtwoord on September 27, 2013, 10:51:32 AM

*Cough* Poland *Cough*

You're overrating this incident. Nobody here in Poland believes in government pensions.
Everybody treats pensions as a tax. It's not our money, it's government's money. We have no way to withdraw them, even in greatest emergency.

Now Cyprus is a completely different story. That was outright theft of people's money from bank accounts.

So please, stop invoking Poland alongside Cyprus. Cyprus incident was orders of magnitude more devastating.

Why always defend the statist, authoritarians in Poland?

Whether anyone believed it or not, the government said one thing and then changed it recently. Either they stole the money from the people of Poland now, or they've been doing it slowly for years.

nobbynobbynoob

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Annuit cœptis humanae libertas

Quote from: xxjs on October 01, 2013, 07:40:28 AM

Do they even have a central bank? Banco Nacional de Panamà seems to be a government owned, commercial bank. Their website https://www.banconal.com.pa/ has nothing suspicious.

That's an interesting question, xxjs. I had always been lead to believe that every country on Earth has a central bank, always (with a few exceptions) at least partly under the ownership/control/supervision of the grubby hands of the Rothschild dynasty. If there genuinely is somewhere with free banking, that could potentially be on the list of countries to move to in future (but I'm far from sold on South America, with it being mainly Spanish- or Portuguese-speaking and/or having sky high rates of murder or violent crime in general - as if the West isn't bad enough).

LiteCoinGuy

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In Satoshi I Trust

Quote from: ElectricMucus on September 27, 2013, 07:52:02 AM

Cyprus was a money laundering and tax evasion industry. People who had funds there gambled with them... and lost.

visit

:

https://bitcointalksearch.org/topic/my-bank-accounts-got-robbed-by-european-commission-over-700k-is-lost-160292

xxjs

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Quote from: Sir Lagsalot on September 27, 2013, 01:54:29 PM

This may relate: Panama announces 5 day bank 'holiday.'

Whether or not savers wake up Tuesday to find they just saved the ~~bankers~~ country, 5 days is a major inconvenience - especially around payday.

The news are really thin on this. This is tuesday, what is going to happen in Panama? What did happen during the weekends. Where are the stories about families out of liquid money this weekend?

Do they even have a central bank? Banco Nacional de Panamà seems to be a government owned, commercial bank. Their website https://www.banconal.com.pa/ has nothing suspicious.

Seems it was a hoax.

smoothie

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Activity: 2492

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LEALANA Bitcoin Grim Reaper

Current events form future trends.

I agree with OP 100% on the cyprus being a testbed for future events.

Roller coaster in global financial markets is coming.

Bitcoin will be affected in a positive way by the fundamental flaws in our current banking system making themselves more apparent.

BobbyJo

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Activity: 358

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Quote from: BitCoiner2012 on September 27, 2013, 03:03:14 PM

Quote from: wachtwoord on September 27, 2013, 02:09:06 PM

Quote from: RodeoX on September 27, 2013, 02:01:52 PM

I try not to be too paranoid, but I learned something in 2008. As the collapse played out I went to the bank to withdraw my savings and most of my checking. I explained to the teller (and then the manager) that I was worried about a freeze in liquidity and preferred the cash. I was assured repeatedly and vehemently that there was nothing to worry about. Now I know that the entire US financial system was within hours of shutting down. The ATMs would stop dispensing and the banks would close. I did not believe them then and I don't now. You have to be the grown up when dealing with banks. They do not know something you do not. Trust yourself.

But owning cash is risky in itself. Firstly it can be stolen or lost. Secondly, it could devalue very quickly in such a scenario.

Good thing you have an alternative now. If the above would happen the price of Bitcoin would be the out of the stadium Wink

I'd prefer access to devalued capital as opposed to none.

Agreed. Its irrelevant what the price of BTC is, if the only thing you can buy is Al Paca socks, its not going to do you much good. You cant just assume that BTC increasing in notinal value will see you through any crisis!

Taras

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Please do not PM me loan requests!

I'm just going to be putting the checks into bitcoin. D:

RodeoX

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The revolution will be monetized!

Quote from: wachtwoord on September 27, 2013, 02:09:06 PM

But owning cash is risky in itself. Firstly it can be stolen or lost. Secondly, it could devalue very quickly in such a scenario.

Good thing you have an alternative now. If the above would happen the price of Bitcoin would be the out of the stadium Wink

True. Increasingly, dollars look like frequent flier miles. At the time I was more concerned with being cut off from my cash.

BitCoiner2012

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Quote from: wachtwoord on September 27, 2013, 02:09:06 PM

Quote from: RodeoX on September 27, 2013, 02:01:52 PM

I try not to be too paranoid, but I learned something in 2008. As the collapse played out I went to the bank to withdraw my savings and most of my checking. I explained to the teller (and then the manager) that I was worried about a freeze in liquidity and preferred the cash. I was assured repeatedly and vehemently that there was nothing to worry about. Now I know that the entire US financial system was within hours of shutting down. The ATMs would stop dispensing and the banks would close. I did not believe them then and I don't now. You have to be the grown up when dealing with banks. They do not know something you do not. Trust yourself.

But owning cash is risky in itself. Firstly it can be stolen or lost. Secondly, it could devalue very quickly in such a scenario.

Good thing you have an alternative now. If the above would happen the price of Bitcoin would be the out of the stadium Wink

I'd prefer access to devalued capital as opposed to none.

niko

hero member

Activity: 756

Merit: 501

There is more to Bitcoin than bitcoins.

Lots of facts and good analysis, with focus on Canada:
http://www.globalresearch.ca/the-confiscation-of-bank-savings-to-save-the-banks/5329411

I think it's a good thing in the end. Why let banksters steal from tax-paying members of public, when you can direct them towards their opt-in customers? At least it's a free choice, no matter how hard.

Bitcoin looks great, yes.

gaston909

sr. member

Activity: 336

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Unfortunately my customers like transferring money using banks... so until they all go bitcoin/other I guess so!

chmod755

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People still use banks in 2013 Huh

gaston909

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Quote from: wachtwoord on September 27, 2013, 10:51:32 AM

*Cough* Poland *Cough*

What he said!

wachtwoord

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Quote from: RodeoX on September 27, 2013, 02:01:52 PM

I try not to be too paranoid, but I learned something in 2008. As the collapse played out I went to the bank to withdraw my savings and most of my checking. I explained to the teller (and then the manager) that I was worried about a freeze in liquidity and preferred the cash. I was assured repeatedly and vehemently that there was nothing to worry about. Now I know that the entire US financial system was within hours of shutting down. The ATMs would stop dispensing and the banks would close. I did not believe them then and I don't now. You have to be the grown up when dealing with banks. They do not know something you do not. Trust yourself.

But owning cash is risky in itself. Firstly it can be stolen or lost. Secondly, it could devalue very quickly in such a scenario.

Good thing you have an alternative now. If the above would happen the price of Bitcoin would be the out of the stadium Wink

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

I try not to be too paranoid, but I learned something in 2008. As the collapse played out I went to the bank to withdraw my savings and most of my checking. I explained to the teller (and then the manager) that I was worried about a freeze in liquidity and preferred the cash. I was assured repeatedly and vehemently that there was nothing to worry about. Now I know that the entire US financial system was within hours of shutting down. The ATMs would stop dispensing and the banks would close. I did not believe them then and I don't now. You have to be the grown up when dealing with banks. They do not know something you do not. Trust yourself.

Sir Lagsalot

sr. member

Activity: 323

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The lion roars!

This may relate: Panama announces 5 day bank 'holiday.'

Whether or not savers wake up Tuesday to find they just saved the ~~bankers~~ country, 5 days is a major inconvenience - especially around payday.

DeathAndTaxes

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Gerald Davis

Quote from: ElectricMucus on September 27, 2013, 12:43:44 PM

Quote from: DeathAndTaxes on September 27, 2013, 12:39:49 PM

Quote from: ElectricMucus on September 27, 2013, 07:52:02 AM

Cyprus was a money laundering and tax evasion industry. People who had funds there gambled with them... and lost.

No Cyrpus lost. Generally speaking people don't put money into banks which seize it. Offshore banking is ~60% of Cyrprus GDP, or maybe I should say was 60%.

Yeah, don't put money into banks which seize it, and if it's a known taxhaven with almost nil controls it might just increase the risk of that happening.

Actually it rarely happens in offshore locations. Take Belize for example there has never been a single cent of depositor loss in the 40+ years it has operated as an offshore banking location.

Why? Because it is a death blow to the economy. Generally offshore banks have very high minimums, high fees, and low (or more commonly no) interest. The only reason people use them is reputation. Cyprus is done for, they are the Yifu of offshore banking. The entire country will be in recession for the next decade or so.

There are lots of reasons to keep money offshore beyond just evading taxes. Off shore trusts are a very effective way to ensure you CAN'T be forced to remit funds back to your host country. Very useful if you no longer trust your own government. They are also useful in legal tax avoidance (evasion = illegal, avoidance = legal) to reduce tax liability.

ElectricMucus

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Marketing manager - GO MP

Quote from: DeathAndTaxes on September 27, 2013, 12:39:49 PM

Quote from: ElectricMucus on September 27, 2013, 07:52:02 AM

Cyprus was a money laundering and tax evasion industry. People who had funds there gambled with them... and lost.

No Cyrpus lost. Generally speaking people don't put money into banks which seize it. Offshore banking is ~60% of Cyrprus GDP, or maybe I should say was 60%.

Yeah, don't put money into banks which seize it, and if it's a known taxhaven with almost nil controls it might just increase the risk of that happening.

DeathAndTaxes

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Activity: 1218

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Gerald Davis

Quote from: ElectricMucus on September 27, 2013, 07:52:02 AM

Cyprus was a money laundering and tax evasion industry. People who had funds there gambled with them... and lost.

No Cyrpus lost. Generally speaking people don't put money into banks which seize it. Offshore banking is ~60% of Cyrprus GDP, or maybe I should say was 60%.

thezerg

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My only problem with bail-in is that it seems to avoid bankruptcy, these people who lost your $ keep their jobs and don't go to jail (if applicable).

But surely on these bitcoin forums you guys don't think that we should magically print more $ to cover what the bank lost?

Topic: Wealth confiscation goes global (Read 2730 times)