Government robs $700K from bank account, citizen baptizes Bitcoin

[productionhead]

https://bitcointalk.org/index.php?topic=160292

The most of circulating assets on our business Current Account are blocked.
Over 700k of expropriated money will be used to repay country's debt. Probably we will get back about 20% of this amount in 6-7 years.

I'm not Russian oligarch, but just European medium size IT business. Thousands of other companies around Cyprus have the same situation.

The business is definitely ruined, all Cypriot workers to be fired.
We are moving to small Caribbean country where authorities have more respect to people's assets. Also we are thinking about using Bitcoin to pay wages and for payments between our partners.

The rest of money remaining on our account are limited for 300EUR/day withdrawals. Also it cannot be transferred abroad.

in b4 $1 million bitcoins
in b4 lukep
in b4 guerilla vs. bitcoin
in b4 thanks obama

 

[hellblazer]

How does someone like that not burn the entire bank to the ground?

 

[pewep]

I don't get it. Why Block $700K if they originally only wanted 25% of bank accounts > 100,000? How widespread is this "tax"? This is economic and political suicide, and governments should know better than that. This is really fucking sad.

 

[potentialeight]

Jesus fucking Christ.

 

[Telva]

$ != the world currency, it's actually ~$920k.

Aside from that, yeah it's quite appalling. Store your money in 'safe havens' or bricks I guess.

 

[d_diggler]

 

[dmnEPC]

I don't get it. Why Block $700K if they originally only wanted 25% of bank accounts > 100,000? How widespread is this "tax"? This is economic and political suicide, and governments should know better than that. This is really fucking sad.

This is setting the stage for WW3. This is nothing more than a test. If they get away w/ this (they will) look for it to spread. They tell the world that this money is just Russian mafia's money, so no one cares. Just walk outside and as any american what is going on over there.

If they even know its happening, they will say its people that were laundering money. Maybe 5% of the population will realize its the .gov and banks robbing and stealing this money from real people and real business.

I will lay this out as my prediction. If they get away with this and take this money. You will see this happen in a much bigger country in < 6 months. And when that happens the worlds banking system will fall like domino's. But do not miss interpret this to mean the bankers will loose money. This is how they will hijack the worlds money and pull off the greatest heist the world has ever seen. As I mentioned WW3 is about to commence.

 

[xmcp123]

I don't get it. Why Block $700K if they originally only wanted 25% of bank accounts > 100,000? How widespread is this "tax"? This is economic and political suicide, and governments should know better than that. This is really fucking sad.

Not all of that is being taken. They're trying to prevent a bank run, so they're forcing a certain(large) percentage to stay in the bank.

 

[pewep]

Not all of that is being taken. They're trying to prevent a bank run, so they're forcing a certain(large) percentage to stay in the bank.

The article and official statement both say that a maximum of 20% of the seized assets will be returned (best case scenario) AFTER 6-7 years and only 300 euros/day are allowed to be withdrawn until further notice. How is this not economic suicide? Thousands of businesses are laying off workers in cyprus by the boatload.

 

[productionhead]

This is setting the stage for WW3.

 

[pewep]

This is setting the stage for WW3. This is nothing more than a test. If they get away w/ this (they will) look for it to spread. They tell the world that this money is just Russian mafia's money, so no one cares. Just walk outside and as any american what is going on over there.

If they even know its happening, they will say its people that were laundering money. Maybe 5% of the population will realize its the .gov and banks robbing and stealing this money from real people and real business.

I will lay this out as my prediction. If they get away with this and take this money. You will see this happen in a much bigger country in < 6 months. And when that happens the worlds banking system will fall like domino's. But do not miss interpret this to mean the bankers will loose money. This is how they will hijack the worlds money and pull off the greatest heist the world has ever seen. As I mentioned WW3 is about to commence.

This is one of the first times I've ever paid attention to any financial doomsday scenario before know. Downright bullshit. If you think about it thought, at least all of this can be tied back to Greece. What excuse will they come up with now?

 

[K-Noop]

They shoulda taken a page out of Icelands book and told the banks to fuck off.

 

[xmcp123]

They shoulda taken a page out of Icelands book and told the banks to fuck off.

Can't really do that easily when 9% of your economy is banking.

 

[Hurr-Durr]

 

[jacky8]

How does someone like that not burn the entire bank to the ground?

This, along with the elites owning the bank. Oh and also the politicians

What is the world coming to? :boid:

 

[d_diggler]

In fact for all the wonderful new government bureaucracy in Europe busy regulating the banks which the government caused to go out of control in the first place there was very little market warning.

The Cyprian banks were subject to and past the same stress tests as any other European bank.

So go figure what that means for Europe.

 

[Unarmed Gunman]

I'm not saying I would kill a lot of bankers for $700k, but...well, nevermind.

 

[gotthefeeling]

these illuminati fuckers are good

 

[-Matt-]

 

[thecow123]

it seems cyprus just went full retard