We witnessed another nail in the coffin of democracy and capitalism over the weekend.
Having discovered that desperate and enraged Cypriots won’t tolerate the theft (“confiscation ” – to use the EU term) of their savings, the EU bureaucrats are now promoting an option that sidesteps democracy by avoiding the troublesome parliamentary voting process.
The EU previously established in Italy that it will not only depose elected officials and replace them with unelected technocrats but will also impose its own laws and decisions on countries that do not carry through its totalitarian demands.
A sovereign nation, Cyprus, has now had its elected government superseded by an outside governing body.
From the Brussels perspective Cyprus is no longer Cyprus, just the latest troublesome territory of the globalist EU empire.
How the Cypriot Government and people will react to their newly acquired vassal status remains to be seen.
Some observers claim that we are approaching a time in which the option of open wealth confiscation is an option that will be promoted more and more, an option tempered with the argument, “you have a choice, either you lose x% of your deposits and the bank stays afloat OR you lose everything.”
Yet wealth “confiscation” implies wealth accumulation on someone’s part – who gains?
According to the media the banks in Cyprus will reopen today.
The key issue then becomes how depositors will respond to the events of the last week; will they, for instance, start a run on the banks by withdrawing as much of their savings as possible?
The truth of the matter is that the only thing standing between the EU and a total banking collapse are bank runs; should depositors in Spain and Italy (for instance) lose whatever remaining trust they may have in banks then there’s little the EU or anyone else can do to avoid financial meltdown – they simply don’t have the resources.
Is the banksters financial house of cards about to come tumbling down on all our heads?
3
Things have moved on and the banks wont open till Thursday. Robert Peston the BBC’s top economics man warns today “The risk for the eurozone is that this cessation of the free movement of money across borders is seen as a precedent – and therefore nervous investors and lenders would pull their money out of other economies and banking systems perceived to be weak, such as those of Italy and Spain.” It ain’t looking good.
With the prospect of Cypriots queuing at banks demanding there savings it is only a matter of time before the banks are instructed to pull down the shutters.When this happens (and I suspect it will sooner rather than later) it is only a matter of time before desperation leads to rioting, what then for the EU dictators, Martial law perhaps? UN troops to ensure civil order? I suspect the EU puppet masters are using this as an exercise for things to come.
Graham, the EU has already set-up an armed police force and I believe I am correct in stating that due to the Lisbon Treaty they can go anywhere they like within the EU to impose or restore order. I also think I am correct in stating that this force has a right to come to Britain too so Labour and Tory have given a foreign power the right to exercise the power of a foreign police force on our streets something that Hiter could only have dreamt about!
I have not heard of this but I have thought on the possibility of it. The Westminster traitors who allow such a thing could do with reading Magna Carta, allowing a foreign body political control over us and allowing foreign men-at-arms onto our streets, with jurisdiction over Englishmen is completely illegal. It is perfectly lawful therefore that such armed men be apprehended by us to the best of our ability.
Pray tell me that our army has an intention of casting these mercenaries out of our lands.
Yes, Steven is quite correct. I have seen images of an armed multinational unit of this body (Spanish/Italian and Dutch if I remember correctly) undergoing riot traing. They looked every bit the thugs they undoubtedly are.
It’s easy to ascribe to to the EU a degree of skill and cunning which it does not possess. The aspiring totalitarians don’t have every angle covered.
If they did they would not have allowed so many countries to join the Euro which were putting themselves on the road to doom. The argument you often hear is that disaster was welcomed as an excuse to cement control and that’s what they are now trying to do. But this is a step too far politically and easier to plan in theory than to execute.
The sensible tactic would now to be retrench so that the troubled economies can gratefully recover then move towards more centralisation of power in a benign atmosphere. No sign of that.
If I were a Cyriot I would make my way a bit sharpish down to my local bank on Thursday and pull out every penny I got.A euro in the hand could soon be worth ten in the bank.