As you saw, the Cyprus event generated a lot of comments from us here at Ushanka:
First, it was a 6-10% tax on citizen's post-tax savings.
Then it was only savings of over 100k Euros.
Then it was 40% of all deposits over 100k Euros.
Then it was 60%.
Finally, as we understand it, it was 100%. 60% confiscated wealth, and the remaining 40% returned in bank shares. Shares in banks that will not attract a single Euro from anywhere outside of the county, ever again.
Cyprus
For Cyprus citizens, their money was not theirs after all. For outside depositors, they had enough time to pull their deposits through the bank branches in London and Russia.
That is how socialist and tolerance and greater good policies end. The greedy govenment parasites use all the resources they can, then come for yours. The alternative is to take responsibility for their failed policies and disband the government.
Today:
Japan just announced a 1.4 Trillion Yen "stimulus" package. Already in debt 20x their GDP, they've taken a page out of Obama's book to "go all in." (Not "go all in" in the sense of reducing regulations and the government size by 90%. No, the other "go all in.")
Bad times are a com'in to Japan. Read more at ZeroHedge.
Soon:
Rick Santelli explains a proposed law in Illinois - SB3341. It appears they want their citizens to register all purchases of precious metals. Huh. Wonder why.
From World Net Daily:
So is it yours?
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