PDA

View Full Version : Cyprus & The Euro



slushpuppy
04-17-2013, 02:47 PM
Cyprus has now been fixed by confiscating up to 40% of the bank accounts that were over $100,000 without touching those that were under and, more importantly, the World did not erupt into chaos in the aftermath of the greatest confiscation of wealth since the French Revolution. If you are reading this and have money in uninsured accounts - this should worry you a lot because the EU, the IMF and the World Bank have now decided your money is not sacrosanct and even the Russians aren't complaining too much and not a peep out of Asia so all this "outrage" here is just in the countries that are under Rupert Murdoch's sphere of media influence.

Bondholders are being completely wiped out as well and GOOD - that's what happens when you try to take advantage of a bank or country with bad credit by lending them money at usurious rates on the expectation that someone will bail them out. That is why these banks get so out of control - the worse they are managed - the more money pours into them chasing higher rates of returns. If this action simply puts a stop to that - the world will be in much better shape going forward.

I love to hear the community thoughts on this unprecedented action on confiscating personal wealth.