Skip to comments.Fanatics who'll do anything to save the euro
Posted on 03/19/2013 7:06:42 PM PDT by Lorianne
Asked why he stole from banks, the American robber Slick Willie Sutton is supposed to have replied, because thats where the money is.
Eurozone leaders have made the same calculation. Ever since the debt crisis struck, it was clear that, sooner or later, savers would be gouged.
Until now, this gouging has mainly happened through quantitative easing, inflation and record low interest rates. But, in Cyprus, such measures werent enough.
Its true, Eurocrats concede, that Cypruss economy is tiny, accounting for just 0.2 per cent of the eurozone. But the patience of the donor countries such as Germany is wearing thin.
Cyprus is seen by many Northern Europeans as a sunny place for shady people. As much as half the money in its banks is Russian.
It is one thing to ask German MPs to cough up to save the euro; quite another to ask them to hand their constituents money to the oligarchs who frequent Cyprus with their bodyguards and peroxided molls.
The trouble is, of course, that there is no way to distinguish between the Russian biznesmeni and everyone else.
(Excerpt) Read more at dailymail.co.uk ...
The precedent has been set; look for it to happen now all over the world.
Obama’s certainly giving it some major thought, that’s for sure.
Doesn’t connect dots that euro failing will strengthen dollar.
US companies selling into Europe will be hit hardest by
Double hit of taxes on dollars brought home and
Soft sales in Europe due to exchange rates
As one of those occasionally bearded survivalists...
Thanks for the shout out !