Cypriot Politicians Vote to Reject EU Terms for Bailout of Banksters and Bond Holders

Protesters in the capital, Nicosia, chanted, "Thieves, thieves!" outside Parliament.

Cypriot's politicians have voted to reject the European Union and the European Central Bank and the IMF's demand that they confiscate the private property of bank account holders as a condition of the terms in a bailout package with 36 MPs voting against bailout, 19 abstaining. Bank accounts are not bonds or stocks or some other form of investments, they are private property like your house or your car. This matters to everyone everywhere because it's the thin edge of the wedge. If it's allowed happen in Cyprus, it can happen elsewhere in Europe or...anywhere. If everyone everywhere were to read up on bonds, banks and bailouts many mattresses would become lumpier worldwide.

As things become curiouser and curiouser in Nicosia. RT is reporting that Russia's Gazprom, the largest extractor of natural gas and one of the largest companies in the world, is ready to offer Cyprus a private bailout package in exchange for exclusive rights to gas exploration in the island nation. Meanwhile the Germans are demanding that Cyprus not negotiate a bailout with anyone else but the EU at the same time as Cyprus officials are in Russia doing just that.

Once upon a time desperate people robbed the banks, now desperate banks are robbing the people. The desperate people used guns, the desperate banks use computers. Of course almost all of the corporate owned MSM are calling this proposed robbery a bank tax when in reality a bank tax would/should tax the corporate bank profits before dividends are paid out. Just the opposite is true here, this robbery would be to bailout the bond holders who bought Cyprus's bonds because, as all dangerous investments do, they offered high interest. Now the gamblers are losing so they are crying.

Cyprus has a long convoluted history due to its geographical position and the natural resource wealth bequeathed by its geological history. Consequently Cypriot's have had to figure out how to shrug off the shackles of empires for millennia. The revolving empires often dominated Cyprus militarily but never in spirit. Hopefully history will repeat itself in the upcoming days and Cyprus will begin again to live freely and happily within its means.