Greece has had it the roughest of any of the Euro PIIGS as far as treatment, even if it doesn't feel like they execute on any plans. Greece has been used as a conduit to shift more money to big banks and hedge funds, who often are funded by the same big banks. Cyprus is a basket case as well, and just this weekend, the Euro weenies decided to screwover the savers of that nation by imposing a one time wealth confiscation equating to deposits. Why the hell have Cyprus and Greece been targets of such harsh measures when Ireland, Italy and Spain have been riding out the storm longer? They are smaller fish, so that makes them easier to fry, but the treatment seems so out of step compared to other nations. Greece and Cyprus are sitting in a newly scouted region of oil and gas reserves while also being in close proximity to the latest proxy war between the West and Russia/China: Syria.
26 billion barrels of recoverable oil in total off the shores of Greece. Cyrpus has gas fields that could contain 7 trillion cubic feet of natural gas, and the Israelis want to build an underwater gas line to pump it to Europe. The US sent Sec. of State Clinton to Greece to shore up support and get cracking so that the US and not Russia could exploit these resources and build pipelines to control the flow. Russia is offering generous help as well. Russia and the US engaged in the early steps of the resource wars; "the prize" as Winston Churchill called it. All IMF and ECB loans are given with the Anglo-American banking system's blessing. They want help, they hand over the oil and gas. They want help, then they let us send arms through their island nation to Syria; recall that half of Cyprus is in Turkish hands. The Syrian proxy war, which looks to be a win for Assad and team Russia/China is a loss for the American interest of installing a new democratic Islam dominated nation... wait how is that a win for America? Even if Assad wins now, we'll keep funding the rebels. Either way, Uncle Sam wants the oil, gas, control of the pipeline network of friendly petroleum resources.
Greece and Cyprus are sadly pawns of the banker game. This is now the second complete destruction of rules so that bankers do not have to take a haircut. The IMF-ECB threw out pari passu so that private debtors took a back seat to public debtors with Greece, and now they are going after bank deposits, insurance be damned. These bastards hide behind rules, language and laws when it suits them, so I would not be shocked to hear the Euro weenies call bank deposits unsecured loans by savers to the banks. By any means necessary, the bankers will be protected and shielded. Greece and Cyprus have some natural resources and just happen to be near the most recent hot zone. This should explain why governments and bankers hate gold. Every 401k, bank account, IRA, mutual fund and brokerage account is neatly organized for such one time raids by greedy bankers and their government bitches. Gold is easy to hide, easy to buy, hard to track and much harder to confiscate. Cyprus may have been a test run for all we know, but now that you know I will ask, "Got gold?".
*Note: Crete & Cyprus are popular spring break destinations for Russian college girls.