Mapoui - Can a bank stay closed

[quote author=mapoui link=topic=78632.msg490618#msg490618 date=1364309335]
the people of Cyprus are being compelled to act against their own best interest.

in the only place the people are being made responsible for for what they did not do.  and their money is being stolen out of their deposits.  the debts of the banks are being transferred to the people.

THAT IS TOTALLY ILLEGAL..SO THE EMERGENCY IS ONE CREATED BY THE CYPRUS GOVERNMENT AND THE EURO BUREAUCRACY. 

IT IS A DEFINED EMERGENCY BY THE GOVERNMENT..NOT AN ACTUAL EMERGENCY FOR ANYBODY BUT THE BANKS.



[/quote]

yeah thats what i couldnt figure out.  how can they close the banks on the ppl like that - bloody scamps

Quote:Yes.

Their deposits are Insured by CDIC.

The reason for the closing has to be within the Banking Act .

explain a lil more ketchim..are all deposits insured..and for how much?

what is the CDIC Jurisdiction?

is it the same everywhere..how can they close banks in Cyprus when there were no threat of runs before deposits were taxed?

is there any illegality in the Cyprus situation

and wat did Nargis mean by her question..or where did she have in mind..Canada or Cyprus or elsewhere

Quote:yeah thats what i couldnt figure out.  how can they close the banks on the ppl like that - bloody scamps

right...you meant Cyprus ::LOL::

i got to go eat soemthng..  I am falling apart.  lunch

CDIC to a max of 60 Grand , I think ...

havent done an updated course in a while 

im going to Panera Bread for lunch - and maybe walk about at Heartland Town Centre

http://www.blacklistednews.com/Cyprus_De...8/Y/M.html

Quote:Cyprus Deal Turns Bank Depositors into Lenders, Abolishes National Sovereignty
Tags: DICTATORSHIP ECONOMY EUROPE
Events in Cyprus have shown just what a high-risk gamble the euro was….

If you could design a system whereby a splinter could take down an elephant, this would be it.

The deal announced Sunday night by the Eurogroup and applauded by its connivers failed to mention the single biggest cost of all. Depositors are losing their money, bondholders are getting forced haircuts, banks are being closed leaving thousands out of work, and the wealthy are being hit again through higher capital gains taxes and higher corporate taxes. But the biggest cost of all is the loss of national sovereignty, where an unelected gaggle of bureaucrats can come in and dictate the terms of a bailout to a once-sovereign nation, all in the name of saving the banks. It’s the banks, always the banks, forever the banks, no matter what the real cost is.

I would strongly suggest that our readers and listeners understand that it is not impossible for such a situation to happen here in the US; Ben Bernanke has refused to state, unequivocally, that it could not.

[quote author=~Nargis~ link=topic=78632.msg490629#msg490629 date=1364310431]
im going to Panera Bread for lunch - and maybe walk about at Heartland Town Centre
[/quote]

how was the bread

Quote:how was the bread

Nargis eat bread fuh lunch.......I eat ah simple meal..old and quick...15 minutes.  curry potato with sliced up mushrooms..with white rice spread on a bed of brown lettuce

nice.  it was special..even if cooked in haste!