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... The government guarantees ordinary bank deposits, but in exchange it imposes regulations meant to prevent banks from failing so that they will rarely have to call on the government guarantees. But then there's a complication. While the government's deposit insurance raises enough money to handle the failure of a limited number of smaller banks, there are some institutions that grow so big that the government doesn't have enough money to cover their losses if things go wrong. That's one of the reasons why these banks become "too big to fail," which necessitates even more government support, in exchange for which they are supposed to be placed under an even heavier layer of regulation.Cyprus is a signal that this whole system is failing. Government regulation doesn't actually guarantee solvency; in fact, it is the insolvency of the governments themselves that triggered the Euro crisis. Moreover, when things really go wrong, the government can't actually guarantee all of the deposits—and now we're starting to wonder whether they're still interested in trying.... Can Cyprus happen here? Well, some on the left are already floating plans to rescind the tax exemptions on retirement accounts, making a grab for a big pile of your savings.But will they do what Cyprus is doing with our bank deposits? Probably not. If history is any guide, our political czars wouldn't attempt something so crude as to just grab money from our accounts. No, they'll do what they have always done: siphon it gradually by printing lots of money and inflating away our savings.
So, can the U.S. potentially have a direct tax on savings? It's already happened. See: http://itsaboutliberty.com/index.php/topic,7924.msg93850.html#msg93850
According to John Roberts the US government can do whatever it damn well pleases, you petulant little serfs.
The Cyprus Solution - Outright theft of 40% on account holders over 100k Euros.http://www.guardian.co.uk/world/2013/mar/25/cyprus-eu-draft-agreement-bailoutAs one might imagine, the Rooskies are not very happy!http://www.zerohedge.com/news/2013-03-25/merkel-very-happy-russian-pm-furious-stealing-what-already-been-stolen-continuesIt is not an understatement to say wars have begun over much less.
Let's announce ahead of time you're going to confiscate what people put into banks.That's certainly a recipe for success.
Quote from: MNHawk on March 26, 2013, 07:55:48 AMLet's announce ahead of time you're going to confiscate what people put into banks.That's certainly a recipe for success. They MUST know that. They are pushing for bank runs in Europe. They must feel ready. They want the panic, the riots and collapse so they can install martial law and dictatorship. That also means they probably feel they are ready here. This panic <COULD> spread quickly. However the SHEEP are just so dumb. They may never panic, and I think our govt wants the same, but plan to do it more gently via inflation
