Your Money Is Their Money: EU Taxes Bank Deposits
IT'S FOR THE COMMON GOOD:
LONDON (Reuters) - The surprise decision by euro zone leaders to part-fund a bailout of Cyprus by taxing bank deposits sent shockwaves through financial markets on Monday, with shares and the bonds of struggling euro zone governments tumbling.
The bloc struck a deal on Saturday to hand Cyprus rescue loans worth 10 billion euros ($13 billion), but defied warnings - including from the European Central Bank - and imposed a levy that would see those with cash in the island's banks lose between 6.75 and 9.9 percent of their money.
Parliament in Cyprus put off a vote on the measure - which has shaken depositors' confidence in banks across the continent - until Tuesday, however, and with public anger at the deal widespread the government said it was already looking to ease the pain for small savers.
Without the rescue, Cyprus would have be unable to avoid a default. That would have undermined the promise that Greece's debt writedown last year was a one-off, but the unprecedented move to hit depositors adds a radical new dimension to the crisis across the euro zone.
MAYBE NOW IT WILL BECOME OBVIOUS TO PEOPLE WHY I SAY, THE GOVERNMENT DOES NOT HAVE THE RIGHT TO BE MORE ARMED THAN IT'S PEOPLE ON A DOMESTIC LEVEL.
A GOVERNMENT WHO IS MORE ARMED THAN IT'S PEOPLE CAN DECIDE TO STEAL THE PEOPLE BLIND ...
AND THE PEOPLE CAN DO NOTHING ABOUT IT.
IN GREECE, ALL THE PEOPLE CAN DO IS BEND OVER AND TAKE IT, GREEK-STYLE.
This may sound extremist at first blush. But here is something to think about:
If your local police dept. began patrolling the streets with tanks and machine guns, you'd be very upset, and you would certainly feel violated.
This distinction between federal, state, and local, is artificial.
And, the fact that the DHS is not wielding tanks on the streets, or machine guns, on a daily basis, does not make it any better. The fact is, they have armed themselves with weapons of war to use against the citizens of the United States.
Our 2nd amendment rights are not for hunting, they are for self-preservation AGAINST THE GOVERNMENT.
That means,
NECESSARILY,
THE GOVERNMENT DOES NOT HAVE THE RIGHT TO BE MORE ARMED THAN IT'S CITIZENRY.
7 comments:
I'm betting that most Americans are saying, "This could never happen in America."
They don't realize that we are already living in AmeriKa.
It is my understanding that there are rumblings in Washington about taxing people's 401K's.
To quote Laural and Hardy "This is a fine how-do-you-do."
This is a rerun of what has been Argentine´s nightmare for the last 40 or 50 decades. I said this before, and I´m afraid I will be repeating it in the future. At the beginning of the Obama presidency, Cristina Kirshner said Obama was following following HER policies. Everybody laughed. Not anymore. She knew what she was talking about. Either she saw the first signs, or ... it was written in the cards ...
Sorry, there were too many zeros in the decades above. It was 4 or 5 decades.
Pasto,
It is my understanding that there are rumblings in Washington about taxing people's 401K's.
I'm also hearing rumblings about doing away with the mortgage-interest deduction. Now I'm hearing this possibility in the mainstream media -- not only in the Right media. The loss of the mortgage-interest deduction is likely to happen first, IMO.
The Mortgage Tax Deduction would be easier to do away with because it is not our property. HOWEVER, it is a lot of money we're talking about. A huge tax increase, if they try it.
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