Ok now, we ARE talking about Europe here, So what do you think the ‘Unintended Consequences’ are going to be with this sort of plan?
My first guess is that the Grey and Black market is going to see a major expansion and that the people will start thinking that Organized Crime really isn’t so bad considering the ‘bite’ they take is so MUCH LESS than the governments ‘bite’.
Time to invest in Mattress Manufacturers.
Too bad Cameron is so gutless. If he invaded Brussels right now and arrested every last member of the Commission, “Parliament”, Council of Ministers and whatever other bureaucracy exists there, he could bend the EU to his will and get it out of the hands of the socialist elite. But he so desperately wants to be one of them instead . . .
Banks offer so little in interest, even on large sums, that there’s little point to letting them borrow your money in order to loan it out to others tenfold. Keep a couple grand in a big bank for ATM convenience, but otherwise put it in a credit union or in coffee cans buried in the back yard.
It's amazing that so many people still don't understand the distinction between "money" and "wealth".
Anything that can be deleted by a keystroke is not "wealth".
King Obama’s plan for America. It will probably happen after gun confiscation gets a firm hold. America is converting to a dictatorship.
Overall a very good article.
It did, however, miss one very important fact dealing with the Cyprus banking disaster. It was reported that the major Cyprus banks had closed all of their internal branches but kept several of their international branches open.
This meant that the average “Joe Pglumber” couldn’t withdraw any of his money but the international fat cats and criminal elements could and did.
a market solution would be
throw out all the “tax payer” rescues and the regulations designed to prevent them or mitigate the affects of them
require that banks obtain “insolvency” insurance from private insurers
those insurers will set THEIR standards and make THEIR demands on what it will cost the banks for their insurer to “rescue” them and how much of a rescue they are insuring
yes, we, the bank customers, will be the eventual payers of those fees, passed on to us in the financing & banking fees the banks charge us
and, as part of that market solution we will be able to chose the banks who obtain the best “insolvency insurance” premiums from the insurers, increasing the incentive for banks to strive to obtain them
with NO “regulator” set standards of “reserves” and “capitalization”, because government is not standing on the sidelines to “rescue” them