by John Galt

March 20, 2013 22:00 ET

In August of 2011 this blogger observed the following in an article titled The Most Dangerous Stock Market in the World is now down over 90% :

In the nation of Cyprus, divided for decades between Turks and Greeks. Orthodox Christian and Muslim, the danger is real and somewhat buried in the back pages as other more pressing issues which impact geopolitics surpassed the region in importance. With the nation divided at gunpoint and distrust at all time highs, the last thing the people need there is a spark and the already charged activities of the Islamist minded leader of Turkey in addition to a deterioration in the economic conditions on Cyprus and in Greece are the perfect formula for disaster.

The stock market chart which I embedded in the article told a tale of woe as the markets had crashed so severely then, that doubts about the viability of the Cypriot financial system were obvious 2 years ago:

Last Friday, the same index opened at a new low of 98.91, indicating a total loss since the peak in 2007 of 98.3% of its total value.  Today the discussion on talk radio and throughout the blogosphere has been the proposed seizure of bank deposits from Cypriot citizens and select foreigners keeping deposits in those banks as a tax to complete an ECB/IMF ordered bail-in as opposed to borrowing the money from their printing presses and diluting the value of the fiat funny money known as the Euro even further.  There is this belief permeating the commentary that I have been listening to and reading that this is a play by the banksters to seize control of the financial system in Cyprus by forcing a new, popular government to capitulate to their demands.

Taking all of the commentary into account, I think that this obviously is not what it seems. Lets review what is happening in the past which has led to this point and the dramatic attempt to usurp a countrys sovereignty over the weekend. The following are entries from this blog which ties the real reason, in my opinion, behind the attempt to destroy the Cypriot government and install a crony which is more accommodating to the European Central Bank and the various institutions allied with our Federal Reserve involved in a new world cabal designed to erase national borders and rights to that nations natural resources:

March 13, 2012:

Moody’s Adds Gasoline to the Fire in Cyprus – Downgraded to Junk