Help: Bank of Cyprus took my deposits
- Thread starter Ripley
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When I first caught wind of this the Cyprus ordeal, the first thing I thought to myself was "I wouldn't put it past our own government to adopt similar tactics."
The US govt doesn't need to give US depositors a haircut, they effectively do it across the board via currency debasement.
No inflation [so they say], but purchasing power of the US $ has been drastically reduced over the past few years.
PPP = Power of the Printing Press
No inflation [so they say], but purchasing power of the US $ has been drastically reduced over the past few years.
PPP = Power of the Printing Press
I do not believe this is a template for the future. I think once the results are in on this abortion even the idiots -- meaning the world's public officials -- will see this does not work for them. The SOB's will determine that they need to focus on the old stanbys to pick our pocket -- taxation, inflation, more subtle confscation, etc. -- but that this type of public and bloody mugging is not a winner.
This was a mistake ... plain and simple. But even rodents learn and these rats are already discovering that to use their enormous power this crudely is foolish. They need the masses to believe deposits are safe, that fiat is solid and that the rule of law is meant to protect them. When you are selling a fairy tale you can't run with the theme : ONCE UPON A TIME, we bent you over and ...
They know what works and it's: ONCE UPON A TIME, we passed legislation that may cost a few pennies more over the first few years but will save trillions out ten years. But, no worries because you can borrow now at very low rates and continue to live well beyond your means.
This was a mistake ... plain and simple. But even rodents learn and these rats are already discovering that to use their enormous power this crudely is foolish. They need the masses to believe deposits are safe, that fiat is solid and that the rule of law is meant to protect them. When you are selling a fairy tale you can't run with the theme : ONCE UPON A TIME, we bent you over and ...
They know what works and it's: ONCE UPON A TIME, we passed legislation that may cost a few pennies more over the first few years but will save trillions out ten years. But, no worries because you can borrow now at very low rates and continue to live well beyond your means.
a.k.a A Hidden Tax.
a lot of people are looking to buy real estate over here in europe because they are afraid of a tax on their savings account
Atta boy
Exactly. There are so many more stealthful ways of accomplishing the same thing.
Why do something that would be a political nightmare when you can take money from unsuspecting people slowly, with no political ramifications?
Then you can even turn around and offer the very same people that you originally took from and offer them "free stuff" and they will continue to vote for you...
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