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Thread: for what it's worth - European Countries getting nearer to imposing Capital Controls

  1. #1
    Banned Melonie's Avatar
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    Default for what it's worth - European Countries getting nearer to imposing Capital Controls

    from


    (snip)"There are consequences to being flat broke.

    There are consequences to investing any level of confidence in a financial system underpinned by debt and the creation of paper currency.

    There are consequences for ignoring reality and pretending that everything is normal.

    This is one of them: European officials yesterday flat out admitted that they were discussing rolling out a series of harsh capital controls across the continent, including bank withdrawal limits and closing down Europe’s borderless Schengen area.

    Some of these measures have already been implemented sporadically; customers of Italian bank BNI, for example, were all frozen out of their accounts starting May 31st upon the recommendation and approval of Italy’s bank regulator. No ATM withdrawls, no bill payments, nothing. Just locked out overnight.

    In Greece, the government has taken to simply pulling funds directly out of its citizens’ bank accounts; anyone suspected of being a tax cheat (with a very loose interpretation in the sole discretion of the government) is being releived of their funds without so much as administrative notification.

    It’s no wonder why, according to the Greek daily paper Kathimerini, over $125 million per day is fleeing the Greek banking system.

    European political leaders aim to put a tourniquet on this wound in the worst possible way.

    So what are capital controls?

    Simply, capital controls are policies which restrict the free flow of capital into, out of, through, and within a nation’s borders. They can take a variety of forms, including:

    - Setting a fixed amount for bank withdrawals, or suspending them altogether
    - Forcing citizens or banks to hold government debt
    - Curtailing or suspending international bank transfers
    - Curtailing or suspending foreign exchange transactions
    - Criminalizing the purchase and ownership of precious metals
    - Fixing an official exchange rate and criminalizing market-based transactions

    Establishing capital controls is one of the worst forms of theft that a government can impose. It traps people’s hard earned savings and their future income within a nation’s borders.

    This trapped pool of capital allows the government to transfer wealth from the people to their own coffers through excessive taxation or rampant inflation… both of which soon follow.

    The thing about capital controls is that they’re like airine baggage fees; ultimately, all governments want to do it, they’re just waiting on the first guy to impose them so that they can shrug their shoulders, stick it to the people, and blame ‘industry standards’.

    Moreover, capital controls were a normal part of the global economic landscape for most of the 20th century, right up to the 1970s. It’s been a long time coming for governments to return to that model.

    Since the inception of this letter, it has been a constant theme for us to talk about the increasing threat of capital controls. Your money, your savings, your livelihood are all under attack by insolvent governments, and it’s critical to take steps to reduce your exposure.

    When European financial leaders all openly admit that they’re making plans to establish continent-wide capital controls, it really begs the question– what additional warning sign does one need?

    The dominos have already started falling. Iceland. Ireland. Greece. Spain. Portugal. Italy. Cyprus."(snip)


    I posted this in the camming forum based on the fact that SM is based in Cyprus !!! Thus it is now conceivable that the EuroZone could soon enact new capital control laws which would make it impossible, for example, for SM's Cypriot bank to transfer funds owed to camgirls in any country besides Cyprus across the Cypriot border - or in the alternative ( if capital controls are imposed throughout countries that use the Euro as their currency ) make it impossible for SM's Cypriot bank to transfer funds owed to camgirls who live in a country outside of the EuroZone that uses a currency other than the Euro !!!
    Last edited by Melonie; 06-12-2012 at 10:44 AM.

  2. #2
    loveshooks
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    Default Re: for what it's worth - European Countries getting nearer to imposing Capital Contr

    Is this not posted in dollar den because the people who read that section tend not to blindly swallow your rigid ideology that informs your interpretation of every topic upon which you post? Perhaps it's just me, and if it then that's fine, but the Cassandra wailing/railing against financial regulation in any form does get a little old. The way I read this thread, the issue as it could potentially relate to camming is secondary to your need to impart your view of how our world should function.

    I urge everyone who is concerned about this issue to read up on it, using sources other than the rabidly right-wing blog cited in the OP that, like Melonie, considers government/regulation in any form (including the abstract) to be theft and an infringement upon individual liberty.

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  4. #3
    Banned Fridays's Avatar
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    Default Re: for what it's worth - European Countries getting nearer to imposing Capital Contr

    Being the % of "foreign" models doing this job is VERY high comparing to the US models and being MOST of them do NOT bother paying taxes and keeping track, I find Melonie post extremely informative and suitable for camming connection..
    We know most models do NOT read dollar den... but rather this section.

    All my foreign model friends ( and I have many!) do not pay taxes...
    so yeah...
    this stuff is important to them........

  5. #4
    Banned Melonie's Avatar
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    Default Re: for what it's worth - European Countries getting nearer to imposing Capital Contr

    I just wanted to make non EuroZone camgirls aware of the potential developments in 'financially distressed' EuroZone countries ( including SM's country Cyprus ) that could cause potential major problems in regard to their future ability to actually get paid the money they have earned from webcam hosts in those 'financially distressed' EuroZone countries !!!

    As to supposedly 'biased' sources, you can now read the same stuff reported at ...







    Regardless of personal opinion, it is also a fact that some of the more 'biased' internet financial news sources also tend to sniff out financial news stories earlier than more 'mainstream' financial news outlets.

    At any rate, if some readers are offended by my mentioning the prospect of this new 'financial regulation' in the Camming forum, what can I say. For a fact it IS being seriously discussed by EuroZone leaders, and for a fact some aspects have already become reality ( i.e. the 'banking holiday' recently declared by an Italian bank that ran out of money, Greek banks 'freezing' accounts of suspected tax cheat companies and individuals, etc. ). However, I suspect that Camming forum camgirls may be offended much more severely by new EuroZone 'financial regulations' potentially forcing them to physically travel to Cyprus in order to collect their future SM earnings !
    Last edited by Melonie; 06-12-2012 at 03:02 PM.

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