Friday, July 3, 2015

Quite a "haircut." Greek banks prepare plan to raid deposits to avert collapse.

The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said. High quality global journalism requires investment. A Greek bail-in could resemble the rescue plan agreed by Cyprus in 2013, when customers’ funds were seized to shore up the banks, with a haircut imposed on uninsured deposits over €100,000.

7 comments:

Old Grey Guy said...

Nothing but theft.

Anonymous said...

Not 'deposits' any more ... money from customers is now "Bank Assets" once they have their grasping hands on the funds. Perfectly acceptable (to Bankers!) for such 'assests' to be used to recapitalise a failing bank!

Kiwi III

Anonymous said...

You got to love the Orwellian "doublespeak", where being robbed is called a "haircut"

Anonymous said...

Same thing will eventually happen here, but they will start with mandatory investment of retirement (IRA, 401k, etc...) in a percentage of government bonds. Right now they are just monetizing the short fall through the bank owned, private Federal Reserve. The massive debt is just the same as Greece, but we have the world's reserve currency for the time being and can postpone an economic collapse. WW3 will be started before our economic collapse as a last ditch distraction.

Jimmy the Saint said...

@Anonymous: as far as "haircut" goes, it's pretty harmless doublespeak. Just wait until they get to "evacuation" and "resettlement."

Anonymous said...

Article is hidden behind a paywall.

Block Of Instruction said...

Crap like this is the number one reason they want the guns here. For if they tried this on a armed public the out come would not be too they're liking, or end game plan. When the US dollar is pushed aside this Oct. for what ever is next, it will be interesting to say the least. To bad they're plan for a race war before that happens, is going so badly. I'm sure they will pull a false flag from they're ass's before Oct though. Guess they never heard of Unintended Consequences, but the Untouchables might feel the effects before long.