Cypros banks imposed 9.9% tax on every bank deposit over 100.000 euros... Deposits under that amount are to be taxed at 6.75 percent, meaning that Cyprus’s creditors will be confiscating money directly from pensioners, workers and regular depositors to pay off the bailout tab.

 

European officials in Brussels required that part of a new 10 billion euro bailout be paid for directly from the bank accounts of ordinary savers...

 

I cant beleive it! Government started to rob people plain and simple!

 

 

http://www.nytimes.c...t-of-banks.html

Can and it will. It's just a question of time.

Not bank accounts but 401K, 403B, IRA's. The Gov will "buy" them from you based on a garanteed future return.

There are trillions of dollars on those accounts in private hands. That's not acceptable.

Yeah, I'd like to see that "guaranteed future return" wink wink when the "Freedom Card" is issued. Let's face it... this government can and will do whatever it wants to do. There are no restraints, and that is why the Constitution is such an amazing document... it outlined what the government couldn't do to you. However, it is such a quaint and dated document. We can all get nostalgic about the idea of private property.

REason #1 I keep a US$ bank account in the old country.

Not necessary. They can achieve the same goal by printing money and driving up inflation.

 

It's the beauty of fiat currency

Not necessary. They can achieve the same goal by printing money and driving up inflation.

 

It's the beauty of fiat currency

They can only do that because the dollar is the world currency. If / when that changes we are in for a big hurt.

I think that is the main reason gold and oil are through the roof. No one trusts the dollar anymore.

Can and it will. It's just a question of time.

Not bank accounts but 401K, 403B, IRA's. The Gov will "buy" them from you based on a garanteed future return.

There are trillions of dollars on those accounts in private hands. That's not acceptable.

 

there's already been articles circulating around that the current administration has been "eyeing" peoples 401k's, ira's, and other savings. if i recall, they mentioned that there's around 43 trillion sitting there that the govt could use........

Not necessary. They can achieve the same goal by printing money and driving up inflation.

 

It's the beauty of fiat currency

 

This^^^^^

 

Think for a minute about the magnitude of our total debt, there are only 2 ways we will ever pay that off either default or inflate our way out.

Not necessary. They can achieve the same goal by printing money and driving up inflation.

 

It's the beauty of fiat currency

 

You mean they "can" or they "are"....