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Cyprus government's 'great bank robbery' of private accounts may set off bank runs across Europe

Monday, March 18, 2013
by Mike Adams, the Health Ranger
Editor of NaturalNews.com (See all articles...)
Tags: Cyprus, bank robbery, bank runs

Cyprus

(NaturalNews) There's only one reason people leave money in a bank: because they think it's safe there. They think they can get their money back out when they ask for it. This trust is what makes bank accounts possible, and without this trust, there is no longer any reason to put money in any bank.

The government of Cyprus just destroyed that trust across the entire EU. How did it accomplish this feat of destruction? By raiding the private bank accounts of everyone with a checking or savings account. In a surprise act of nationwide government theft, the government of Cyprus -- under orders from the IMF and German bureaucrats -- simply looted private bank accounts, stealing up to 10% of private account deposits.

It's being called "the great EU bank robbery."

Let it be known that governments can now directly loot your checking accounts without permission

This act should not necessarily surprise us. We all know that governments are voracious thieves that steal savings and wealth from the productive working class of society. But what's really shocking here is the wave of distrust now being set off across the Eurozone.

If Cyprus can suddenly and without any warning loot private bank accounts and steal money away from people who have rightly earned it, then what's to stop the same thing from happening in Greece, Spain, Italy, Portugal or any other country?

"I believe it could be the beginning of the end for the Eurozone as this is an unbelievable blow to the already challenged trust that might be left among investors," wrote Lars Seier Christensen, CEO of Saxo Bank. (SOURCE)

He continues: "If you can confiscate 10 percent of a bank customer's money, you can confiscate 25, 50 or even 100 percent. I now believe we will see worse as the panic increases, with politicians desperately trying to keep the EUR alive."

And that's the point here. If a government can instantly steal 10% of your savings, it can also steal 100%. So what's the point of putting money in a bank at all? The only people who didn't get ripped off by the Cyprus government were people who had nothing in bank deposits!

Banks even went to great lengths to stop customers from getting away with their own money. "Cypriot banks banned online transfers and emptied cashpoints to stop withdrawals," reports the Daily Mail. "Economists warned the move would fatally undermine confidence in the safety of money being held in banks in other countries, risking bank runs across the eurozone."

Is this the beginning of the great EU bank run fiasco?

Right now, depositors across the EU are thinking to themselves, "Gee, this could happen here next. I'd better get my money out while I still can..." That's the kind of thinking that causes bank runs, of course. Given that the banks in nations like Greece and Spain are already on the verge of financial collapse, any run on deposits will likely set off a cascade of liquidity implosions that ripple across the EU and eventually make their way to the shores of America.

Get ready for the announcement of "bank holidays" across the EU. A bank holiday means the bank closes its doors and refuses to allow you access to your own money. Bank holidays are the last red alert warning sign before a systemic banking system collapse. If you hear an announcement of a bank holiday at your bank, you're already too late. The only way to protect your savings is to get it out of the banks before they declare bank holidays.

"The raid on bank accounts risks triggering new convulsions in the financial crisis that began in 2009 in Greece," reports Bloomberg.com. It continues:

The [looting] is "a worrying precedent with potentially systemic consequences if depositors in other periphery countries fear a similar treatment in the future," Joachim Fels, chief economist at Morgan Stanley in London, wrote in a client note.

FDIC insurance is a mathematical hoax: here's why

When most Americans read this, they will mistakenly think to themselves, "Oh, this won't affect me. My accounts are insured by the FDIC."

FDIC insurance is a mathematical hoax... a delusion. The FDIC only has a tiny fraction of the funds it would need to bail out account holders in a systemic banking failure. If just 5% of the banking institutions in the USA went belly up, the FDIC would be bankrupt itself.

The FDIC, accordingly, is no protection against systemic failure. It can only really protect account holders of isolated, rare bank failures that do not happen as part of a systemic collapse. And yet the collapse that's coming is, of course, a systemic collapse of the global debt-based banking system which is deeply tied in with government spending and global debt instruments like derivatives. The only way to be safe from that inevitable implosion is to have no money in the bank. In other words, have your assets in other real things like land, gold, food, etc.

For the record, a systemic financial failure of U.S. banking institutions is not yet imminent, but it is inevitable. The timing is the real question, but with European governments now directly looting -- stealing! -- deposits from the accounts of private citizens, we are quite clearly one step closer to a systemic, global implosion of the failed debt cartels.

The banksters are getting very, very desperate and it's clear they are going to steal everything from the citizens in a bid to save themselves. If the global debt-based banking system is the Titanic, the banksters just motored away with all the rescue boats and left the passengers standing around with their d!*#s in their hands.

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About the author:Mike Adams (aka the "Health Ranger") is a best selling author (#1 best selling science book on Amazon.com) and a globally recognized scientific researcher in clean foods. He serves as the founding editor of NaturalNews.com and the lab science director of an internationally accredited (ISO 17025) analytical laboratory known as CWC Labs. There, he was awarded a Certificate of Excellence for achieving extremely high accuracy in the analysis of toxic elements in unknown water samples using ICP-MS instrumentation. Adams is also highly proficient in running liquid chromatography, ion chromatography and mass spectrometry time-of-flight analytical instrumentation.

Adams is a person of color whose ancestors include Africans and Native American Indians. He's also of Native American heritage, which he credits as inspiring his "Health Ranger" passion for protecting life and nature against the destruction caused by chemicals, heavy metals and other forms of pollution.

Adams is the founder and publisher of the open source science journal Natural Science Journal, the author of numerous peer-reviewed science papers published by the journal, and the author of the world's first book that published ICP-MS heavy metals analysis results for foods, dietary supplements, pet food, spices and fast food. The book is entitled Food Forensics and is published by BenBella Books.

In his laboratory research, Adams has made numerous food safety breakthroughs such as revealing rice protein products imported from Asia to be contaminated with toxic heavy metals like lead, cadmium and tungsten. Adams was the first food science researcher to document high levels of tungsten in superfoods. He also discovered over 11 ppm lead in imported mangosteen powder, and led an industry-wide voluntary agreement to limit heavy metals in rice protein products.

In addition to his lab work, Adams is also the (non-paid) executive director of the non-profit Consumer Wellness Center (CWC), an organization that redirects 100% of its donations receipts to grant programs that teach children and women how to grow their own food or vastly improve their nutrition. Through the non-profit CWC, Adams also launched Nutrition Rescue, a program that donates essential vitamins to people in need. Click here to see some of the CWC success stories.

With a background in science and software technology, Adams is the original founder of the email newsletter technology company known as Arial Software. Using his technical experience combined with his love for natural health, Adams developed and deployed the content management system currently driving NaturalNews.com. He also engineered the high-level statistical algorithms that power SCIENCE.naturalnews.com, a massive research resource featuring over 10 million scientific studies.

Adams is well known for his incredibly popular consumer activism video blowing the lid on fake blueberries used throughout the food supply. He has also exposed "strange fibers" found in Chicken McNuggets, fake academic credentials of so-called health "gurus," dangerous "detox" products imported as battery acid and sold for oral consumption, fake acai berry scams, the California raw milk raids, the vaccine research fraud revealed by industry whistleblowers and many other topics.

Adams has also helped defend the rights of home gardeners and protect the medical freedom rights of parents. Adams is widely recognized to have made a remarkable global impact on issues like GMOs, vaccines, nutrition therapies, human consciousness.

In addition to his activism, Adams is an accomplished musician who has released over a dozen popular songs covering a variety of activism topics.

Click here to read a more detailed bio on Mike Adams, the Health Ranger, at HealthRanger.com.

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