Cypress seizing % of bank deposits

» Site Navigation
Home Page The Villages Maps The Villages Activities The Villages Clubs The Villages Book Healthcare Rentals Real Estate Section Classified Section The Villages Directory Home Improvement Site Guidelines Advertising Info Register Now Video Tutorials Frequently Asked Questions
» Newsletter Signup
» Premium Tower
» Advertisements
» Trending News
» Tower Sponsors




















» Premium Sponsors
» Banner Sponsors
» Advertisements
Closed Thread
Thread Tools
  #16  
Old 03-19-2013, 02:51 PM
Villages PL Villages PL is offline
Sage
Join Date: Sep 2011
Location: Belvedere
Posts: 5,279
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by Parker View Post
I just read that Cypress has agreed to seize roughly 6 to 12% of bank deposits to avoid banking collapse, all with the approval of the EU. Refusal to pay will result in jail and/or hefty fines. Very scary.
There won't be any "refusal to pay" because the money was deducted from the accounts while the bank was closed.
  #17  
Old 03-21-2013, 07:41 AM
JoelJohnson JoelJohnson is offline
Veteran member
Join Date: Jun 2012
Location: Lady Lake, FL
Posts: 665
Thanks: 439
Thanked 215 Times in 105 Posts
Default

We owe THEM money, if we don't pay what are they going to .. take the White House?
  #18  
Old 03-21-2013, 07:46 AM
JoelJohnson JoelJohnson is offline
Veteran member
Join Date: Jun 2012
Location: Lady Lake, FL
Posts: 665
Thanks: 439
Thanked 215 Times in 105 Posts
Default

Why have your money in savings account anyway? You can buy a good company like General Mills that pays a healthy dividend and INCREASES it every year! Same as JNJ or Bristol Myers!

Don't fight the FED, interest rates will remain low for a very long time.

REMEMBER if you are getting .50% on your CD or saving account and inflation is around 2% you are LOSING 1.5%!
  #19  
Old 03-21-2013, 09:55 AM
NIPAS K-9 NIPAS K-9 is offline
Senior Member
Join Date: Aug 2012
Location: The Villages FL
Posts: 220
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Quote:
Originally Posted by Parker View Post
Disagree, respectfully. At least with a savings account, you have made the choice to accept a lousy interest rate, versus a seizure of assets where you have no choice.
I AGREE..................
  #20  
Old 03-21-2013, 02:22 PM
Cantwaittoarrive Cantwaittoarrive is offline
Veteran member
Join Date: Jun 2012
Posts: 892
Thanks: 0
Thanked 3 Times in 1 Post
Default

Quote:
Originally Posted by Villages PL View Post
If you keep all of your money in the bank, the Fed isn't doing it to you, you are doing it to yourself.
Well I guess you could say the same about the money in the Cypress bank accounts? They should have known better and therefore they are really doing it to themselves?
  #21  
Old 03-21-2013, 02:28 PM
Cantwaittoarrive Cantwaittoarrive is offline
Veteran member
Join Date: Jun 2012
Posts: 892
Thanks: 0
Thanked 3 Times in 1 Post
Default

Quote:
Originally Posted by JoelJohnson View Post
Why have your money in savings account anyway? You can buy a good company like General Mills that pays a healthy dividend and INCREASES it every year! Same as JNJ or Bristol Myers!

Don't fight the FED, interest rates will remain low for a very long time.

REMEMBER if you are getting .50% on your CD or saving account and inflation is around 2% you are LOSING 1.5%!
Not the point. The OP was sighting the seizing of a % of bank accounts and all I'm saying is without the interference of the Fed rates would be much higher than they currently are today. Therefore the Fed is really doing the same thing. I on the other hand make 20+% on my money year after year trading options and only have 6 months expenses in a MM account. I can't understand why anyone would tie up money in stocks when there is so much money to be made in derivatives.
  #22  
Old 03-21-2013, 05:08 PM
Cantwaittoarrive Cantwaittoarrive is offline
Veteran member
Join Date: Jun 2012
Posts: 892
Thanks: 0
Thanked 3 Times in 1 Post
Default

Forget Cyprus, Nobody Is Stealing from Depositors More than Bernanke | Daily Ticker - Yahoo! Finance
Closed Thread

Thread Tools

You are viewing a new design of the TOTV site. Click here to revert to the old version.

All times are GMT -5. The time now is 12:47 PM.