Will Spain copy Cyprus and rob our savings?

All this carry on simply reinforces my long held belief, there is no difference between governments and gangsters.  They are the same sheep in different clothing.

This has given everybody no confidence in any form of banking, not that there was that much confidence floating around already. It's going to have a knock on effect in all EU countries and could lead to the collapse of the banking system as a whole.

If anybody needs somewhere safe to hide your money, give it to me I have a really heavy mattress so it should be safe there

For all those interested take a look at this film (or the trailer). http://buy.fourhorsemenfilm.com/#

Here’s a few reviews:

 “Director Ross Ashcroft uncovers the systemic, legalised corruption of governments and the banking system enabling the rich to get richer while the majority of the world lives in abject poverty – waiting for the magic of ‘trickle down’ economics to take effect.”
- Rachel Surgeoner, Little White Lies

 “Four Horsemen is a breathtakingly composed jeremiad against the folly of Neo-classical economics and the threats it represents to all we should hold dear.”
- Harold Crooks,  The Corporation (Co-Director) and Surviving Progress (Co-Director/Co-Writer)

“Ashcroft keenly rejects amorality and apathy alike, and he may be the first documentarist working in this field to elicit viable solutions from his interviewees, rather than baleful shrugs: you can’t fail to emerge better informed, and better prepared to make the kinds of changes and perception shifts we need to make if we are to move forward from here. Despite the doom laden title, this is a hugely encouraging watch.”
- Mike McCahill, Cinesthesiac  

“Four Horsemen could be part of a new global manifesto for a desperately needed new world. Watch it and make up your own mind if you want to be part of it”
- Caspar Walsh – Positive News

“Using some of the brightest thinkers of our age, [Four Horsemen] considers where we are today and how we got there. It considers the failings of the economic system and how this has turned our democracies into plutocracies. It does not hark back to some mythical golden age, but considers how FD Roosevelt acted when faced with a similar crisis, and laments the fact our politicians today do not have the same vision to do the same.” 
- Dan Carrier, Camden New Journal  

 “It’s Inside Job with bells on, and a frequently compelling thesis thanks to Ashcroft’s crack team of talking heads – economists, whistleblowers and Noam Chomsky, all talking with candour and clarity.”
- Total Film

 That looks very interesting ads.  Certainly the banks are oportunistic rather than single handedly being the cause of the problems.  In Cyprus - nobody pays any tax on anything below about 20,000 euros - which means a lot of people are never paying any tax at all. It has obviously suited governments like Greece and Cyprus not to collect taxes at all, whether because inefficient, corrupt, or just because of the enormous overblown public sector giving itself generous allowances.    I would have said this was a recipe for disaster anyway.  And remember that  Greece and Cyprus, and others, have very generous retirement packages!!   It does not add up now, and it never did.  We have been living in fantasy world.   In the UK, the challenge is to reduce the welfare bill to a level which is actually realistic.   

So the holy grail of cutting taxes does not work ???? or did they just take it to the extreme????? so what sustained them????

they seemed to have lasted a very long time.

Regards

Norman

 I could not agree more Norman.   How have they managed to date?   Well - I guess from a combination of corruption (cash in hand funding local government) and borrowing!!!  But the piper has to be paid eventually.

I don't see how you can cut taxes AND increase the public sector and/ or welfare benefits.

Like I say, I think we have all been living in Bizarro World.

Well,

if no one paid any tax here we could at least do away with our multi-billion tax avoidance/evasion industry and perhaps even put the best brains in the country to some useful work.

I wonder if the UK has the largest such industry in the world?????

Perhaps there is a league table some where???

Regards

Norman

 Teacher: Now then class, let's do some simple sums.

Germany has tried before to control Europe but this time by more up to date methods.

Countries such as Spain that need outside investment for thier infatructure are not stupid enough to alow this to happen.

The Cyprus situation is bound to be a good start as it is a small economy to destroy, which this action will indeed do.

A heavy hit on Russian deposits could deal with this alone but the country needs balls to face up to it.

Spain, I believe, would have the guts to satnd up to this looking further forward at its economy. 

Who's next?

 The answer is spend all your money, SIMPLES

 i think the problem is that everyone thinks that as these large EU economies go bankrupt

they will still be okay/get there money back

but as the crisis deepens there will be no money and when banks go Bankrypt

no one will be able to guarantee depositors money or bail out the bank

Thats what going bankrupt means no more money 

http://viableopposition.blogspot.ca/2013/03/the-tip-of-europes-sovereign-debt.html 

the blog above suggests it all happens this time next year  

Sproggit   

                                I thought Spain had already introduced the so called wealth tax - we had to pay it last year - we do not live in Spain but have substancial assets there - we have already withdrawn most of our money from our Spannish bank!!!

Do not get too upset with Cyprus OUR own Brit government

has also been at it  ! They have had their hand in your savings and pinched

a BIG % of your money. How ? When ? Why ?

It's called quantitive easing (Q.E.) - By printing  373 BILLION extra bits of paper

it has sent the value of any savings down the plughole. Ever wondered why

our stirling exchange rate is getting worse ?  Q.E is the major factor .

 A worring time for one and all.

However we have had Wealth Tax in the Netherlands for at least 30 years to my certain knowledge.

Someone suggested good hiding places for money. I guess Mayors and Politicians in Spain have some experience.

I also recall that many house owners in Spain had their properties confiscated, without compensation.

This was sometimes because developers wanted the land for other uses. No hint of corruption here of course.

This clip of an MEP at work, tells us all what happens to our respective countries finances..... Bless him.

Stay watching after he sits down because he comes back with a truthful and heartfelt reply.

http://sorisomail.com/email/238743/o-politico-que-representa-realmente-a-populacao.html

Collectively I'm sure we could all write a book on politicians shenanigans in all countries.

No doubt many of them are controlled by big business and industry.

My advice is to keep your head below the parapet, they have bigger and better guns than us.

Cheers
Leo

These are difficult times for sure.  What must be avoided  now is  bank runs.  If we see a marathon of bank withdrawals then history yet again repeats itself and we see banks being forced  to liquidate loans which can lead  to bank failure.  I for one am glad I don't have any huge amounts in banks.  I keep my powder dry in property in the UK which feels much safer, but you never know do you?  Is it the right time to invest in gold? Traditionally it has always been a safe investment during an economic crisis and always retains or goes up in value. However, with all the issues around German gold at the moment it may not be as safe an investment as it has been traditionally.  I am skeptical about almost everything regarding EU economy at the moment.  And remember you can't eat gold, it provides no income and it gets stolen - what's not to like about gold?
 

leoleon, I watched the clip you posted and you are right the parting shot says it all!

ads, I watched Inside Job which was shocking and have now ordered Four Horsemen, I don't know why I do it because it only makes me mad!

English politicians have become very quiet all of a sudden and not one comment on the Cyprus situation has been forthcoming.   We have all our savings in UK banks (most in Santander which I am told is not affected by any situation with Santander in Spain as it has a separate banking license) but to be honest I wouldn't trust ANY politician in any country.   Also nothing has been mentioned about the so called £85,000 EU guarantee that was supposed to be in place for all EU savings so that in itself is another lie.

We have pondered the idea of moving from our small bungalow into a slightly larger one to use up some of our savings which would serve two purposes, keep the British government from claiming our savings for Care Home fees, plus if anything happened to either of us we would have to use our savings to live on and would be unable to claim benefits.   Having watched for many years the number of people who have not worked and claimed or come here with nothing and been given everything whilst we have worked and paid in all our lives to subsidise others, has lead me now to come to the idea of spending everything on ourselves making it impossible for our savings to be robbed from us.

Who can blame us ?

JWhite, no-one can blame you.  I think you have the right idea exactly and know what you have to do.  There is a new movie out, which won the Sundance festival this year and  has been hailed as the financial equivalent to An Inconvenient Truth, presented by a Berkely Cal heavyweight Robert Reich and is a must watch movie about the widening income inequality in the US and this of course effects the rest of us as well in the 99%,