L. A. Marzulli
Europe Considers Wholesale Savings Confiscation, Enforced Redistribution
At first we thought Reuters had been punk’d in its article titled “EU executive sees personal savings used to plug long-term financing gap” which disclosed the latest leaked proposal by the European Commission, but after several hours without a retraction, we realized that the story is sadly true. Sadly, because everything that we warned about in “There May Be Only Painful Ways Out Of The Crisis” back in September of 2011, and everything that the depositors and citizens of Cyprus had to live through, seems on the verge of going continental. In a nutshell, and in Reuters’ own words, “the savings of the European Union’s 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says.” What is left unsaid is that the “usage” will be on a purely involuntary basis, at the discretion of the “union”, and can thus best be described as confiscation.
I am alarmed at this story as it would seem to indicate that what happened in Cyprus was a test to see what the people would do and outside of a few demonstrations and bed-sheets turned into posters not much happened, as the government stole the people’s savings! http://www.usatoday.com/story/money/business/2013/07/29/bank-of-cyprus-depositors-lose-savings/2595837/
Ah yes, the golden rule was in full operation in Cyprus, as those who had the gold, made the rules! Well there are some of you are thinking, it can’t happen here, no way! May I remind you that it’s already happening, as Obama-mess is redistributing the wealth from those who have to give a little more, by giving out subsidies to those who can’t afford to pay! This is socialism and the former Soviet Union who practiced this for decades proved the system doesn’t work, yet the weasels in Washington rammed it down the throats of the American people, and it is now the law of the land.
With that in mind what happens when the 17 Trillion dollar debt becomes unmanageable? What happens when the magic printing press stops printing funny money? What happens when food prices soar? How about when the stock market collapses like Gerald Celente predicts will happen soon? http://etfdailynews.com/2014/02/03/gerald-celente-warns-of-economic-collapse/
Oh yes, it can happen here and I believe it’s part of the plan to break the backs of the American people and turn us into a two class system. The 1% elite at the top and the equally poor at the bottom. The middle class has decreased under Obama thus breaking financial backbone of the country. http://moneymorning.com/2013/01/22/middle-class-decline-under-obama-shown-in-5-charts/ Please remember the Cyprian government actually grabbed peoples savings out of their accounts! This is robbery of the first order and it is tyrannical!
In closing todays post. The bottom line for me is this. Unless the American people become involved and awake the country will continue the death spiral which is socialism. Government doesn’t produce anything, it only regulates and puts onerous demands on those who actually produce something. First Cyprus, now perhaps the E.U., next the good old USA! So what would I suggest? Take some of your money out of your savings and buy precious metals. http://goldsilver.com/news/top-10-reasons-to-buy-silver/
Richard Shaw and I are headed to the Arizona UFO film festival where Watchers 7, has been entered! http://ufocongress.com
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L. A. Marzulli shares the platform with a variety of speakers with many different world views. Marzulli does not endorse anyones world view unless specifically noted.
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