Monday, March 25, 2013

Cyprus "Deal" Not So Fine Print

Cyprus Salvaged After EU Deal Shuts Bank to Get $13B - Bloomberg:

You worked hard, you saved money, you invested, you have a 401K that has 100's of thousands or maybe even a couple of million in assets after 30 or 40 years of working.

You think that is yours? You think that is your private property? You think that the BO statement "You didn't build that" to small business owners is just something blown out of proportion by the right wing?

Maybe. Try these apples buried in this news story.
The revised accord spares bank accounts below the insured limit of 100,000 euros. It imposes losses that two EU officials said would be no more than 40 percent on uninsured depositors at Bank of Cyprus Plc, the largest bank, which will take over the viable assets of Cyprus Popular Bank Pcl (CPB), the second biggest.
Got that? The news initially reports stories about unrest over the "haircut", then reports "crisis averted" letting everyone that doesn't read in detail believe that the haircut was avoided! No story here folks, move along.

What the Statists are establishing are the precedents for the seizing of greater percentages of private property. The "principle" was initiated with the "progressive" income tax, but they have run out that cash cow. They are getting 80-90% of taxes from the top 10-20% of the income earners and falling short by more than $1T every year. They have borrowed over $16T and are behind something in the neighborhood of $100T when FICA, Medicare and now BOcare is factored in. 

The Ponzi scheme is at it's end and these folks are DESPERATE. They will not admit their scheme at anything else than gunpoint -- Bernie Madoff was a very nice and reasonable man compared to the folks running our government. We are in grave danger. Desperate men will do ANYTHING to cover their tracks. 

First they come "for the 1%", then for "the top 10%", then "the wealthy", then "those that have more to share" ... eventually, if you have any assets, they come for YOU!

Our Founders realized that EQUAL PROTECTION, PROPERTY RIGHTS and RULE OF LAW were NOT NEGOTIABLE!! The "progressive" income tax breaks them all, and based of the success of that attack, the relentless attack of the state to enslave all runs on.

'via Blog this'

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