I wrote this article last Friday. Events are moving so fast and unpredictably in Cyprus–first left, then right, then up, then down–that whatever you write may be compromised in just hours or days.
Therefore, some of the article I penned on Friday is not necessarily accurate this Monday. Nevertheless, there is a valid point to this article: there is now evidence that the governments of Cyprus and the EU are now sufficiently desperate to resort to open confiscation of bank accounts and pension funds to keep their fiat-money, Ponzi-scheme afloat. The first implication is that it may no longer be safe to store all of your savings in a conventional bank account in Europe.
The big question is How soon will the US emulate the European example? I’ve heard reports that Obama is in the process of dramatically increasing the number of IRS agents. If the reports are true, you can bet that one of the new IRS agents’ primary tasks will be to discover the bank accounts of delinquent taxpayers and confiscate whatever currency they can find therein.
Confiscation from bank accounts may be on the verge of at least supplanting inflation as gov-co’s favorite means of robbing the public.
Here’s the original article: