Skip to comments.Bank Seizure of Deposits Called “Wave of Future”
Posted on 03/29/2013 4:29:13 PM PDT by navysealdad
The resolution of the bank crisis in Cyprus by seizing depositors money and forcibly converting it into equity shares in the banks was hailed as an innovative way out of a plethora of bad investments by bank officials by Jeroen Dijsselbloem, the Dutch chairman of the Eurozone.
Under the old rules, losses incurred by bad investments would fall upon
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It’s important this be labeled satire, as it is.
Might be a good time to invest in safe (as in ones with combinations) companies.
At least for the moment it is.
To we intelligent ones, it indeed is satire.
To the Obamadork and his West Wing Clown show of Felon/Cretins and his MSM bottom-O-the-barrel SAT crowd, it is the future.
That is not sarcasm.
Might be, indeed. It's about time people started to realize that when they deposit money in the bank, they give up their ownership of it. It's been that way for hundreds of years.
But with the creation of deposit "insurance" [Thank you, FDR, may I have another?], everyone just sat back and considered their bank as that friendly place we store our money and earn some interest for it to boot. They were wrong.
The EU did something shocking by reminding bank depositors of their true, legal rights; but it certainly did not do anything illegal or even undemocratic.
Or possibly an accurate prediction of the future!