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Now, it might go into effect for amounts above the insurance limit but I'm willing to bet most of that money already got transferred out so what would be the point?
Why shouldn't Cyprus citizens bail out out russian money launderers?
By the same token, why should American productive class bail out the unproductive class. Why should the productive class continue to bail out the government? Same difference.
Note, Russians were alarmed of what might happen far before.
Cyprus authorities should agree to very first Russian proposal of 5 bln loan with opening all Russian depositors' info to Russian govt. That proposal did not claim any assets from Cyprus except for information. But they've decided to be 'smarter' and take 10 bln from EU.
3. We gave our government the power to spend TRILLIONS, and we have almost nothing to show for that money spent. We will never get it all back. Our children will never get is all back.
4. We have a government in this country that is currently pushing boundaries to see what the citizens will and will not stand for. Everything from the size of soft drinks, to drones over cities, to gun control proposals, to TSA groping, to consciously trying to increase the number of social safety net recipients, to additional leniency towards those who cross our borders illegally, to governmental oversight of 401K plans.
5. The government cannot be trusted to act in the best interest of our country. There is too much switching of job descriptions amongst those who float regularly between working for big money business and working in politics. There is too much "beholden to those who gave the money". Corporate donations to campaigns is not free money without strings attached. At some point the walking suits in corporate America call in the favors from the walking suits in DC. There is too much mismanagement of tax payer money. Can you name one (just one) government department that is fully accountable, fully transparent, fully efficient with the use of the tax payer dollars they receive?
6. Those who say that it couldn't happen in this country (nobody wants to take your guns away, just buy two drinks, drones are never going to kill Americans on US soil, they're not going to steal our savings) are burying their heads in the sand. The potential for corruption is there. The opportunity is there. The potential for over-reach is there. In some, the will is there. We must NOT become complacent ever again. Regardless of political affiliation, the citizens must be vigilant and begin to demand accountability. And they must begin to stand up and speak when something is wrong. You're right - if this goes through in Cyprus it will be the first of many to come.
Your post bears repeating. News needs to get back to holding ALL politicians accountable and report news otherwise they will abuse us even further. Right now they see the American people will tolerate a lot for the promise of free stuff.
Let's not mince words: Everything you are seeing here are ingredients/pre-cursors to WAR.
Study history and you'll see this will eventually be settled militarily. It may take a few years, but there is no way out of this debt crisis. This is how the Nazis were born and gained power quickly (in fact they are already rising again in Greece).
The more the ECB/Fed/IMF etc. try to plug the leaks, 10 more spring up elsewhere, out of nowhere, with no warning. We can't continue to exist dealing with one emergency after another. Being in a constant state of crisis mode hurts everyone. Something has to give. The Russians now have a serious reason to be angry at the ECB/Cyprus. Syria is right next door. tick-tock... tick-tock...
Lo and behold, look at what's happening 50 miles to the east of Cyprus:
Let Cyprus collapse financially. That's the other option. I personally don't care, though my investments would be hurt due to worldwide reaction to the financial instability. Let's see then what the money in Cyprus is worth. Asking people in the country to share in the nation's security isn't unreasonable. Certainly not theft. Only an idiot would decribe as such, IMO.
Where the problem lies is Cyprus wasn't asking.
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