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Cyprus: If You Saved It, You Don’t Need It

March 19, 2013

NICOSIA, Cyprus (AP) — A plan to seize up to 10 percent of savings accounts in Cyprus to help pay for a $15....

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Mar-20-13 8:20 AM

I can see Obama taking notes in a tattered notebook with subversive stickers on the front, a leftover from his radical community organizing days.

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Mar-20-13 1:58 AM

c o m pare it to...

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Mar-20-13 1:57 AM

4% return is nothing****pare it to welfare With zero principle . Better than publisher clearing and you get free phone and medical sevice.

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Mar-19-13 10:28 PM

Robin Hood-read the following article.

***********carolinajournal DOT com/exclusives/dems-target-private-retirement-accounts.html

The Demoncrats were kicking this idea around in 2008. When the recession hit and it became apparent that John McShame had no chance of winning, the proposal was put on the back burner. The Demoncrats didn't want to look like bad guys before the election.

This idea was pushed by Pelosi and Reid as far back as 2008.

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Mar-19-13 9:03 AM

Ragnar, what is the number of that House and/or Senate Bill that you say has been already proposed. I would like to read the text of the bill.

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Mar-19-13 5:47 AM

Coming soon to the US. Only, they won't seize your deposits directly. No, they will issue new debt, insured by your deposits, which will be seized if and when the debt goes into default, which we have avoided for quite some time.

No financial situation is permanent, however, and the buyers of debt are eventually going to ask why they should give over their money to a government that plans to repay them with deflated dollars. Who wants an investment that loses money?

The Democrats have already proposed legislation that would seize all privately run 401ks, IRAs and pensions and roll them into Social Security, then "guarantee" you a 3% return on your funds.

I can get 4% in a basic utility stock!

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