Greece to Seize Local Government Cash; Two Year Bond Yield Tops 28%

Townhall.com ^ | April 21, 2015 | Mike Shedlock

[Kaslin]

Robbing Peter to pay Paul took another leap forward in Greece today as Tsipras to Seize Public-Sector Funds to Keep Greece Afloat.

[circlecity]

In a few weeks it will be private bank accounts being seized. Again.

[Red Badger]

If everybody in Greece works for ‘the government’ in some fashion or another, a Greek co-worker says 80% or more, then there’s no one to pay the taxes to support them...........

Government workers don’t pay taxes......................

[WayneS]

And here we see one of the main reasons states/localities should maintain their own militias.

[abb]

“A government that robs Peter to pay Paul can always depend on the support of Paul.” George Bernard Shaw, Irish dramatist & socialist (1856 - 1950)

[Bitsy]

They need to call obama. He can tell them what to do about their deli ma. Or maybe he is taking lessons in how to destroy an economy.

[Oldeconomybuyer]

...Stealing money from cities like Athens to pay state workers will ensure city workers don't get paid...

What could possibly go wrong?

[Opinionated Blowhard]

Witness the death throes of the Welfare State. The spending and entitlement beast needs to be fed, even after the state has squeezed every penny possible out of tax revenue. So if shaming the Germans into forgiving debt isn’t working quickly enough, simply start stealing cash from any place you see it.

[Vendome]

If I had the kind of money it takes to buy in, I would.

[bert]

The Palen die hards + the Santorum perpetual losers will get Hillary elected

[blueunicorn6]

This is like looking under the cushions on the couch for change to pay the mortgage when you should be getting a job or selling the house and moving to one you can afford.

[Blood of Tyrants]

Yep. It will happen here sooner or later. I suspect that the first round will be to institute an immediate tax on 401k accounts no matter whether you take out the money or not. The next step will be to confiscate whatever is left and replace the money with IOUs.

[9thLife]

Yields were higher before. Now Gazprom steps in. Hard to believe they're scrambling to stay afloat on what amounts to a fraction of Apple's sales.

Nothing is off the table in this world -- the world that Barack Obama healed.

[9thLife]

The Palen die hards + the Santorum perpetual losers will get Hillary elected

The Greeks will have more to do with it than all of them put together.

[walford]

You know that Obama and his minions are drooling over getting away with doing what the Greek government does to its people. They’re working on getting us acclimated, I promise you.