” There’s video at the link, but this quote from Steve Forbes ought to shock you right down to your socks:
Before a final deal was done, Forbes penned a piece explaining why Cyprus could be a disaster for all of us, lamenting the attempt to seize depositors money. But with a final bailout agreed upon that saves insured depositors, is it less of a disaster?“Not really,” he tells The Daily Ticker. “Because the idea’s out there that now in a crisis politicians won’t hesitate to seize any asset they can lay their hands on. So it just guarantees more fear in the future when a crisis comes, which it will come.”
On the other side of the Atlantic, the European Central Bank isn’t allowed to run the printing presses like Ben Bernanke has been doing at the Fed these last few years. So, the grubby statists will seize whatever assets they can get their panicked little hands on.
On this side of the Atlantic, the grubby statists will keep the printing presses running until the value of your assets (and their debts) is inflated away.”
Once released it becomes impossible to put the genie back in the bottle . Could this be a harbinger of the end of banking as we know it ? With interest rates at fractions of a percent , banks charging fees for every small service and now governments skimming whatever suits them from the people’s savings accounts the old Bank of The Posturepedic is looking better and better .
It certainly puts the spotlight on the Statist’s desire for a cash-less society doesn’t it ? Cash is King , but only for a short time as the Statists are in the process of devaluing paper money right into the gutter .
Ah , Everything old is new again … Gold and Silver my friends , two things government can’t devalue .
- Steve Forbes: Here’s Why Cyprus Could Be A Disaster For All Of Us! (forbes.com)
- Bernanke: Depositor Haircuts Possible In United States! (planet.infowars.com)
- IT’S OFFICIAL: Banks In Europe May Now Seize Deposits To Cover Their Gambling Losses (inquiringminds.cc)
- This Crazy Cyprus Deal Could Screw Up A Lot More Than Cyprus… (inquiringminds.cc)
- Bernanke Leaves Door Open for Cyprus-Style Confiscation of Savings (intellihub.com)