When we consider how many bad ideas from Old Europe make there way over here, perhaps a run on our banks will be needed in the near future.
Just when you think the powers that be can’t get any more stupid.
Anyone living in or investing in the unstable economies needs to jump onto the leading edge of this bank run. Banks are now for short term funds only, not for storing your savings. As for the US, I’m not sure how safe our money is here either. I’ll be reviewing what I own and what the socialists might attempt to grab if they are bold, but so long as we have certain other constitutional rights, I expect them to restrain their confiscatory urges.
I cannot begin to think of a more stupid and senseless action than what theyre doing in Cyprus. Regardless do what they finally decide to do by Thursday when the banks supposedly reopen... Who in their right mind would leave any money in a Cyprus bank account after this? They’ve killed the Cypriot banks, and this could easily spill into other European banks. Then the U.S.
The only hope they have is to profusely begin declaring that no such measure is happening, and will never happen... Along with paying some exhorbitant interest rates to hopefully keep some deposits.
If the bank runs don’t kill them the interest rates will.
I’ve never seen anything as breathtakingly idiotic.
Maybe Europe will get smart and ditch the Euro.
“In the land of the blind, the one-eyed man is king.”
This stunt opened up at least one eye - many others just raised an eyebrow - and will be the first to howl when the “one time” (cough) charge hits them.
So they take 10 percent directly from your money deposit, big deal, they’re taking about that much every time you buy something at the store. And people keep voting for sales tax increases, stupid idiots. In the old days, you got 5 percent interest on your money in the bank, and got sales tax hits under 5 percent - offsetting each other. Now in Cypress they have a triple whammy - no interest, a ten percent haircut of your deposit, and taxes. Obama probably has people working on implementing this for us. The deficit ain’t a problem as long as you have someone to steal from.
Oh, no. Russians and Arabs taxed more on their Cyprus accounts. Hurry up, world. Panic, and inflate the funny bond bubble.