12 Responses to Confusion and panic spreads in Cyprus: Bank holiday extends to Thursday to prevent bank run

  1. mrsotto says:

    A prelude to Americas near future?


  2. S.J. says:

    This will have a very, very chilling effect on the global market, especially the EU, because if anyone thinks that the seizure of private funds will stop in Cyprus, you’re sadly mistaken. Even the slightest chance of it happening in other EU countries will result in a wide spread run on banks – people afraid that they will be next… It has probably already started… And if you believe this could never happen in America, take a good, hard look at our “leaders” and what has already been done to advance the “Socialist Eutopia”.


  3. PIITM says:

    “The amount of debt worldwide is more than all of the bank accounts in the world, and the current financial situation in Cyprus is the inevitable next phase: Confiscation.”


    • And to make sure the confiscation sticks, expect them to switch currency, so when you do pull it out of the bank; it’s worthless. This may not be the case with Cyprus, but it will be the preamble of the future. Beware of extended bank holidays, while international financiers are scheming.


  4. Alex says:

    Alvin, i am still interested in allowing you to answer questions on my college research paper. I sent several comments to allow you to answer my questions. Since you have no email address or mailing address or a proper telephone number to reach you on. I have no other resource to allow my favorite website and information to be used on my research paper. I will be documenting the phrases you say properly to give you credit for the information. I am doing research on the problems of climate change and that global warming is a hoax. I personally believe your information could be crucial to answering many of my questions, and allowing me to use an expert and author of several books. I hope you receive my message and at least give me an ultimatum on wether you would like to help.


  5. Emanni says:

    Argentina Makes Grab for Pensions Amid Crisis
    March 18, 2013

    BUENOS AIRES — Hemmed in by the global financial squeeze and commodities slump, Argentina’s leftist government has seemingly found a novel way to find the money to stay afloat: cracking open the piggybank of the nation’s private pension system.

    The government proposed to nationalize the private pensions, which would provide it with much of the cash it needs to meet debt payments and avoid a second default this decade.


  6. Dennis E. says:

    It could be said that this is so unfair or a preview of what could happen in the USA.
    But a underlining point of view in this matter is “How are some of these people eating”?
    If they can’t access their accounts, how can they pay their bills,buy food?


    • Jennifer says:

      If they can’t access their accts then they CAN’T pay their bills, buy food, etc…. Next come the riots and then…. I think you know the rest. Personally, for us here in the states, I don’t think it would hurt to purchase a little bit of gold and/or silver. Going by what Alvin said “And to make sure the confiscation sticks, expect them to switch currency, so when you do pull it out of the bank; it’s worthless.” …. So THEN what?? I don’t know but gold is universal. A little stashed away wouldn’t hurt… (with a little food and water as well)


  7. El'sFriend says:

    NZ Herald today says that our NZ banks are readying their IT systems for open bank resolution (OBR) a Reserve Bank policy that in extreme cases like insolvency would see a banks loses shouldered in part by its shareholders and creditors – including everyday depositors. The Reserve Bank has the power to freeze bank deposits but up until now has lacked the technical infrastructure to implement it. Now any bank with retail deposits of more than one billion are required to change their systems to meet requirements by July 1st. Seems its coming soon to all the world….


  8. El'sFriend says:

    Oops, see you’ve already reported this. Keep up the good work Alvin!


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