OT Never in America?

[nestork]

I'm sure that the ATM machines in Cyprus limit the amount you can withdraw from your account to a few hundred dollars per day. Otherwise a stolen ATM card could result in some people's entire life savings being lost to thieves.

Still, your point is well taken. Even if the ATM machines remained fully stocked with cash, the most someone here in Canada could take out each day is $400, or $2800 over the course of a week. That would save them $280 on this money grab if they had over $100,000 in the bank.

But, that's still small potatos compared to the $10,000+ the government would seize.

Cyprus is going to be an interesting place for economists to watch in future since people there will be reluctant to trust banks with their savings. I expect you're going to see a lot more people putting their money in glass jars and burying those jars in gardens and flower beds and such to prevent the same thing from happening again in future.

[Tim Watts]

On Tuesday 19 March 2013 15:48 nestork wrote in alt.home.repair:

And in gold, platnium, silver or palladium if they have sense...

[Home Guy]

Again, it's no end of funny to see you Americans keep thinking that your guns will protect your wealth (what little of it you have).

Your guns can do nothing for you to protect your liberty, anonymity, mobility, financial security, or (in general) what you used to call the "American Way of Life".

[harry]

When the banks open,there will be a run on them, whatever the outcome of gov,deliberations. And prob elsewhere in the world. Everyone is very twitchy.

[dennisgauge]

The news reports I heard were that the idea was rejected with prejudice.

Just news of it caused a run on the banks.

Will it happen here? Not a chance. Even just hinting at it will cause a total economic meltdown as people run on the banks to take out all their money.

I can't believe people like Rush are dumb enough to believe that it is even a possibility in the USA. There is not one American politician who would vote for such a ridiculous proposal, because they'd be giving up their money too.

[Home Guy]

harry full-quoted:

Americans don't have that problem.

Most of them don't have 2 cents to rub together - living paycheck to paycheck (or disability payment to disability payment).

It's estimated that 25% of american adults don't even have bank accounts. Those of them that actually have a job and get paid by check use pay-day check-cashing services to convert their checks to cash-money.

[trader4]

otal economic meltdown as people run on the banks to take out all their mon ey.

en a possibility in the USA. There is not one American politician who would vote for such a ridiculous proposal, because they'd be giving up their mon ey too.

WARNING!

I just looked at this thread for the first time and clicked on the reuters link. Norton blocked it and came back saying it blocked an attack by Malicious Rootkit Website 33

[VinnyB]

On Wed, 20 Mar 2013 09:06:57 -0400, Home Guy wrote in Re Cypriot haircut (was: OT Never in America?):

Welcome to Amerika.

[VinnyB]

On Wed, 20 Mar 2013 05:53:33 -0700 (PDT), [e-mail] wrote in Re Re: OT Never in America?:

economic meltdown as people run on the banks to take out all their money.

In a police state anything is possible. All it takes is waking up one morning to an "emergency" decree from the President. Remember the wage/price freeze of the early 1970s?

possibility in the USA. There is not one American politician who would vote for such a ridiculous proposal, because they'd be giving up their money too.

The politicos will quietly exempt themselves, just like they do with other onerous legislation, e.g. social security.

Federal, state and local taxes consume more that 55% of the GDP and there is no end in sight.

Welcome to Amerika.

[nestork]

Well, by now everyone has heard that the Cypriot parliament has rejected that idea and is now looking for another way to finance their bail out plans.

But, if they'd gone ahead with it, I'd have said that would be the 2nd extremely dangerous precedent that a government has set in my lifetime.

The first woulda been George Bush's "Let's build a coalition of the willing to attack Iraq before they attack us" plan. That, effectively set a precedent saying that you could justify starting a war with another country on the grounds that their intentions toward you are hostile. Unfortunately, I don't have enough fingers and toes to count off all the hostile relationships that have existed for years on this Good Earth... Argentina vs. Britain over the Falklands, Israel vs. everyone else over the Palestinians, China vs. Tibet, India vs. Pakistan over the Kashmir, Venezuela vs. Columbia, Turkey vs. Greece over Cyprus, Russia vs. Chechnya over who knows what, China vs. Japan over those rocks sticking out of the Sea of Japan, Malaysia vs. East Timor over independance, India vs. Sri Lanka over independance, Canada vs. Denmark over Hans Island, which isn't large enough to even play a game of soccer on, the USA vs. Cuba over the right to be communist, North Korea vs. South Korea over ideology, etc.

[harry]

[harry]

otal economic meltdown as people run on the banks to take out all their mon ey.

en a possibility in the USA. There is not one American politician who would vote for such a ridiculous proposal, because they'd be giving up their mon ey too.

They would move their money abroad, being forwarned,

[krw]

If you don't know "why not", you're as dumb as HomoGay. Look at what's happening in Cyprus (and about to spread across Europe) if you're that far from reality.

Destruction of the entire monetary system. That's all.

Set back to where the discussion is taking place.

[krw]

And folks, now you know why the Democrats are trying to grab guns.

[krw]

economic meltdown as people run on the banks to take out all their money.

possibility in the USA. There is not one American politician who would vote for such a ridiculous proposal, because they'd be giving up their money too.

What a naive little lefty.

[trader4]

That indeed is enough justification for starting a war. But it sure was not the justification for going to war with Iraq. Iraq invaded Kuwait with no provocation whatever. A whole coalition of countries went to war to drive Iraq out. One very important part of the agreement that ended that war was Iraq agreeing to full cooperation with UN weapons inspectors. Iraq agreed to account for all their WMDs which they had at time. They agreed to open access for the UN inspectors and to destroy all their WMDs and WMD programs. Iraq never complied with that agreement. Even on the eve of the war, with 400,000 troops ready to attack, in his last report to the UN, Hans Blix said they still were not cooperating.

They were given every opportunity to do so and refused. More than enough justification for military action.

One essential difference is that now we have countries run by unstable, total nut jobs that are rapidly developing WMDs that will be able to directly hit major cities in the USA. Some of those nut case ideologies, driven by religous fanaticism, have demonstrated over and over that they are very willing to die as long as they take as many innocents with them as possible. You may be OK living with that threat, but most of us are not.

[dennisgauge]

Not in the least. You'd be up in arms over it. 1/2 the population of the co untry would be up in arms over it. There would be uncontrollable civil unre st, riots, maybe even full-on armed revolt. It'll get real messy, real quic k, especially if it was done by an ILLEGAL "executive order" in the dead of night.

They would have a hard time justifying any sort of body count to their own people, let alone the rest of the world.

[harry]

Kuwait was once part of Iraq. And the war was illegal,hence they had to find some lying excuse. ie, WMDs. Bush and Bliar are war criminals.

[krw]

country would be up in arms over it. There would be uncontrollable civil unrest, riots, maybe even full-on armed revolt. It'll get real messy, real quick, especially if it was done by an ILLEGAL "executive order" in the dead of night.

Your naivete is showing. The current government doesn't care. If you're too far left to notice, class warfare is their principle tool and this would fit right in. You have heard the talk in leftist (congresscritter) circles about seizing 401Ks and other retirement accounts, right? This isn't any different.

people, let alone the rest of the world.

LOL! You're funny!

[harry]

Hasn't helped so far. American bullshit.