Cyprus and Venezuela, Castro Care

Canada Free Press ^ | 11/8/2013 | Dr. Ileana Johnson Paugh

[rktman]

Cyprus, a tiny island of less than one million people, is a small scale study in “big banking out of control,” “insane spending like there is no tomorrow,” coupled with “socialism runs out of other people’s money.” While researching the bailin and bailout of early summer, I found disturbing accounts of their socialized health care.

In return for a 10 billion bailout for Cyprus, the EU bureaucrats have demanded a bailin (read confiscation) of Cypriots’ savings and checking accounts. One bank offered worthless shares but another did not. Cypriots felt that they were used as “guinea pigs” to test if the scheme worked before they tried it in other places like Italy, Spain, and Greece. The confiscation of depositors’ money was euphemism-dubbed in Cyprus, “the haircut.”

[rktman]

Thanks again to Dr. Paugh. I don't know where she finds the time. Lengthy but worthwhile. Welcome to Venswinela. Where we're headed. Of course like all socialist paradises, the "elite" will have okay health care while the peons (us) lay be the roadside and croak wondering "how could this happen?". Well, we know how don't we. Supposedly, ignorance is bliss so there's a boat load of blissful didiots out there.

[Zhang Fei]

I’m as opposed to Obamacare as anybody else, but why compare it with Cuba’s or Venezuela’s? These are also-ran countries that have always been also-ran countries. The appropriate comparison is to countries with roughly the same GDP per capita like Germany, Japan, Australia, Canada and Britain.

[Eric in the Ozarks]

No doubt in the back of Barky’s Marxist brain, the idea of savings confiscation has bubbled up a few times. It would make us all “equal,” but some would be more equal, of course...