Over the weekend it was reported that people in Cyprus may lose as much as 60 percent of the money in their savings accounts.
The president of Cyprus, acting on behalf of the people, rolled over to the EU and agreed to go along with their plan and continue to mandate the EU currency under his jurisdiction.
Just days before the confiscations were announced to the public, a company closely connected to the president of Cyprus transferred millions of dollars to London.
During two days, 12 and 13 of March, the company A.Loutsios & Sons Ltd., co-owned by Loutsios John, the husband of Nikos Anastasiadis' daughter, Elsa, took five promissory notes worth €21 million from Laiki Bank. The money was then transferred to London, reported Cypriot newspaper Haravgi, affiliated to the communist-rooted AKEL party. The withdrawal was fulfilled just three days before the Eurogroup meeting when euro finance ministers agreed a 10 billion euro ($13 billion) bailout for Cyprus. The newspaper recalls that Cyprus Finance Minister, Michalis Sarris, publicly admitted that the government was aware in advance about the Eurogroup's intentions to impose a "haircut" on bank deposits of more than 100,000 euros.
Responding to the allegations, Anastasiades said: "The attempt to defame companies or people linked to my family… is nothing but an attempt to distract people from the liability of those who led the country to a state of bankruptcy."
Yet as president of a country involved in central banking, Anastasiades is absolutely complicit in the countries state of bankruptcy. In addition, a list of companies and politicians that had loans written off by banks at the heart of Cyprus' bailout crisis was published in Greece and was subsequently handed to the Cypriot parliament's ethics committee.
This situation has caught the attention of people worldwide, who are now wondering if their savings accounts are at risk, considering that Cyprus is not much different from any other central banking government. These measures are not just possible in other places, they have actually already been planned, Cyprus just happens to be the first place in the EU to get robbed.
Earlier last week Anastasiades admitted that the measures in Cyprus were simply an "experiment" concocted by the European Union in an attempt to deal with their current debt crisis.
It was also revealed in plans dating back to last year that
"Confiscation of the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone "troika" officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland; and that the result will be to deliver clear title to the banks of depositor funds."
It was also reported last week that a Cyprus style "bail in" was proposed in the new 2013 Canadian budget.
There has been a rush towards precious metals and Bitcoin because people are attempting to retain as much of their wealth as possible, but for many who have had their funds seized it was too late.
To help the people of Cyprus get their assets off the grid, Jeff Berwick has announced that he will be opening a Bitcoin ATM in Cyprus in the coming weeks.