EUROZONE Ratifies Cowardly Confiscation of Bank Depositor's Assets: Huge Collateral Damage Thursday
Expect rioting and bloodshed Thursday when bank doors open. For, in a stunning act of thievery and cowardice, the Eurozone ratified raping depositors of from 6.9-10% to pay for bank debt and largess. Even if the under 100,000 EURO crowd is spared, and that is by no means a certainty, a lot of innocent Brits with retirement funds, and Russians with funds of dubious origin but "innocent" of bank wrongdoing are going to be mightily #$%$ off. Not to mention the little guys who, if you remember the Cypriot uprisings of years gone by, can't be expected to sit idly by and be raped.
What a stunning display of Fascism! What are these idiots in the financial business in Europe thinking?
All are basking in bank holidays till Thursday in select countries and waiting for the run to the bank Thursday when they open (and we can watch stocks crash that very day). Let us be reminded that Greece, Italy etc are weak sisters and could fall next to this "solution".
Let us be reminded that gold and silver confiscation ruled the roost here at SLW and just be thankful that for as long as we can, second Amendment rights here in the US ( and a healthy dose of FDIC and walls between depositors and the banks) are all we have against our own governmental bad behavior.