The great Cypriot bank robbery

March 18, 2013

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http://www.independent.ie/world-news/nervous-cypriots-hit-cash-machines-29134515.html
Nervous depositors in Cyprus have rushed to ATM machines to drain their accounts following a bailout agreement with international creditors that includes a levy on all the country’s bank accounts.
Lines formed at many ATMs as people scrambled to pull their money out after word that the 10 billion euro (£8.6bn) rescue package Cyprus agreed with its euro area partners and the International Monetary Fund included one-off levy on deposit, an unprecedented step in the eurozone crisis.
The levy is expected to raise 5.8 billion euro.
European officials said people with less than 100,000 euro in their accounts will have to pay a one-time tax of 6.75%, those owning more money will lose 9.9%. Cypriot bank officials said that depositors can access all their money except the amount set by the levy.
But that hardly assuaged people who continued to withdraw cash from ATMs until the machines ran out, unsure what or how much would be taxed. Officials said that withdrawing funds on Saturday would not reduce anyone’s levy.
The country’s co-operative banks also shut their doors after depositors scurried in hopes of protecting their savings. Unlike commercial banks which remain closed on weekends, co-operative banks customarily open for business on Saturday.
“Politicians and senior bank bosses have covered each other’s backs for years, now it’s ordinary people who are paying the price and are being punished,” said Christos Demetriades, 58, milling outside a shut Nicosia co-operative bank branch.
Cyprus’ Finance Minister Michalis Sarris defended the decision to accept the levy, saying it was either that or a complete economic meltdown. “This was the least worst option,” he told state broadcaster CyBC. “We battled to prevent the country from completely going bankrupt.”

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http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/16_Sinclair_-_One_Of_The_Most_Important_Events_In_History_%26_Gold.html
“What’s just happened is the IMF has backed up, lauded, supported, and publicized, as if it were a victory, the taking of 10% of what really turns out to be 80% of Russian ‘black money.’  Russian ‘black money’ is KGB money, now in business.  The leader of Russia (Putin) was a former KGB official.  Whose money do you think they have taken?  This is the biggest mistake the IMF could possibly have ever made.”
Eric King:  “Jim, it’s unimaginable to me, but, incredibly, just ten days ago in a KWN interview you warned that you don’t want to anger Russian leader Putin because he and Russia will punish the West in the gold market.  Can you talk about how this is going to impact the gold market beginning on Monday?”
Sinclair:  “What would you rather have, an insured bank account by the BIS, FDIC, ECB, when any government can come in and take 10% of your account and treat that as if you are paying a tax for monies that were lost because of devious actions by the banks themselves, or gold?
Eric King:  “Will the Russians take their revenge in the gold market?  Is that one of the places they will seek revenge?”
Sinclair:  “The answer is that this is one of the most important events in modern times for the popularity of holding gold rather than holding fiat money.  This is the catalyst that will propel gold through the $1,600 level.  To prevent a break above $1,600 in gold would take extraordinary efforts on the part of any manipulator in the marketplace.
It’s very dangerous in doing business with the Russians, to lose their money.  Revenge will be very much a part of the motivation for what happens from this point forward.  This type of event will take us out of the $1,500s and we may never see those prices again in our lifetimes.”

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What’s up in Cyprus?
Sept 2011
http://brucekrasting.com/whats-up-in-cyprus-war/

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Turkey Seeks Simultaneous Drilling Halt

October 1, 2011
(Hudson-NY.ORG) Washington is closely monitoring the recent developments on the issue…

Redrawing the Sea: Erdogan says Israel will not be able to move in the eastern Mediterranean as it wishes.
…oh and don’t forget about those
Turkish warships that are being built domestically. oh joy! (Hurriyet)…in the mean time Turkey acts like it is being diplomatic with it’s other neighbors:

(AA.com) Turkish Cypriot President Derviş Eroğlu on Saturday submitted a four-item proposal to United Nations Secretary General Ban Ki-moon to resolve the spat with Greek Cyprus over drilling in the eastern Mediterranean.
The proposal starts with a bid for both sides to simultaneously suspend oil and gas exploration, a move that seemed to show Turkey’s reluctance to start drilling work in the Mediterranean.
In the first item of the new proposal submitted to Ban, Eroğlu made an offer to the Greek side to “suspend the oil and natural gas exploration simultaneously until a comprehensive solution is found to the Cyprus problem.”
If this is not going to happen, Eroğlu offered to “set up an ad-hoc committee shaped by representatives of both peoples” on the divided island.

Disgusting denial of the correlative. Turkey is on the gas pipeline and has no gas shortages like Europe does. It is not generous at all to meet this demand. Hindering exploration would raise the price of the resource… this would make Turkey profit. It sounds like as if they are making nice, but they are not. Erdogan’s ploy at diplomacy is hostile and manipulative.

“We shall give some authority to the committee, such as [authority over] explorations, agreements and licenses dependent on written approval of both sides, and we will negotiate the ratio of sharing the riches that will be found,” Eroğlu said.
Thirdly, the Turkish Cypriot leader proposed, “We shall use the income to finance the comprehensive talks,” adding that “the adoption of the plan shall not harm the positions of either side.”

He is playing as if he is generous and ready to negotiate terms… typical Islamic move of demanding conditions for negotiations.

Eroğlu said Ban was pleased with the proposal, in which he repeated Turkish Prime Minister Recep Tayyip Erdoğan’s earlier call for the two sides to simultaneously renounce the energy explorations. Turkish Foreign Minister Ahmet Davutoğlu said Turkey supported the new proposal that was presented to the UN chief.

We all know Ban’s bias already

“If the two parties renounce natural gas exploration, we will accept it,” Erdoğan told Ban late Thursday on the sidelines of the annual UN General Assembly in New York, asking the UN chief to intervene with the Greek Cypriot government in Nicosia and urge them to stop their offshore explorations.
Turkish Cypriot Foreign Minister Hüseyin Özgürgün said Sunday that required coordinates had been set and drilling for oil would soon begin in northern Cyprus. If the Greek Cypriot administration sees Turkish Cypriots as a minority on the island and carries out exploration work unilaterally, Turkish Cypriots can begin exploration in the north of the island, Özgürgün said.
Richard Stone, a leader of Jewish communities in the United States, meanwhile told the daily newspaper Kathimerini on Sunday that Turkey’s actions to prevent the gas and oil drilling efforts of Greek Cyprus and Israel in the East Mediterranean is “a reason for war.” He said.

Meanwhile Ankara Prepares to Penalize Syria to look good for the international community and sadly the United States. Keep in mind that Assad isn’t even a Muslim

(Hurriyet)”If you’re going to act against fundamental rights and liberties, and the law, you will lose your position in my heart as my brother and my friend,” Erdoğan said, referring to al-Assad. “I was very patient. Patience, patience, patience. And then I cracked.”

It is amusing to think anyone would cooperate with Erdogan based on such dishonest intentions.

(Zaman) Opposition Nationalist Movement Party, or MHP, leader Devlet Bahçeli has accused Turkish Prime Minister Recep Tayyip Erdoğan of working for the security of other countries while his country has been suffering from terrorist attacks.

Yikes, U.S., Turkey Agree on Delivery Schedule of Predators

(Zaman) “These [Predators] are UAVs with better qualities and features than the Herons,” Yılmaz said, adding that the Turkish-made Anka would also be ready for the TSK around the same time as an alternative to Israeli-made Herons.Turkey was disappointed by Israel’s failure to return six Herons it had sent to the country for maintenance, as it relies heavily on spy aircraft for surveillance missions that gather data on the activities of the Kurdistan Workers’ Party, or PKK, across the country’s borders in the Southeast…. Meanwhile, the domestically made Anka, named after the legendary flying creature of Persian mythology, was brought out of the hangar for the first time in July 2010 and is expected to provide Turkey with a crucial advantage in its fight against the PKK. The Anka is capable of disrupting the electronic ware of enemy aircraft and has made Turkey the third country in the world, after the U.S. and Israel, to engineer UAVs.

This one is hysterically funny! Turkey’s economic lie …Erdogan Says Turkey is a Role Model in Region?

Turkey’s economic lie

Turkey no economic powerhouse, Erdogan’s credit bubble will soon explode

(AA.com) Turkish Prime Minister Recep Tayyip Erdoğan said Turkey is a role model in its region and has become a country whose friendship and cooperation is asked for in the whole world. Attending a brunch meeting of the Investment Support and Promotion Agency in New York on Saturday, Erdoğan said that a country needed some qualities to draw investment and make commercial relations with another country, listing the qualities as a democratic milieu, stable economy, strong political state, dynamic real sector, big domestic market and export potential. Stressing the importance of stability and confidence, Erdoğan said that Turkey had these qualities. Turkey gives confidence to investors in the world with its economy, public financing and banking sector, Erdoğan said, adding that Turkish economy grew nine percent in 2010, 11.6 percent in the first quarter of 2011, and 8.8 percent in the second quarter of 2011. He said that Turkey became one of the fastest growing two economies together with China in the first half of the year. Noting that Turkey became an attraction center for investors, Erdoğan said that private sector investments, which were only 43 billion Turkish Lira, or TL, in 2002, rose to 164 billion TL in 2010. Erdogan noted that Turkey created 1.5 million new employment opportunities in June 2011 when compared to June 2010. He added that Turkey’s success was not related with conjuncture, noting that it was related with economy management, real sector and the potential of the country. He said that Turkey’s export increased from $36 billion in 2002 to $130 billion in 2010, adding that Turkey had free trade agreements with 20 countries, and opened to Middle East, Africa and South Africa countries to make export. Erdogan said that trade volume between Turkey and the United States was $16 billion in 2010.

Turkey’s economic lieTurkish Deputy Prime Minister Says Turkey Appreciated in IMF Meetings?

(Anadoluajansi) “This is the first time in nine years that I have seen such a high-level political will in the United States, aiming to make business with Turkey,” Babacan said.

Turkish Opposition Says No to ‘Israel Shield’ aka that NATO thing Obama wanted so bad …doesn’t sound like the West likes them or vise versa as much as Erdogan’s propaganda claims.

(Hurriyet) The Turkish government is doing nothing but ensuring Israel’s safety by allowing the establishment of a NATO radar base in Turkey, Republican and People’s Party, or CHP, leader Kemal Kılıçdaroğlu said.