Where individual bankbook holders where inured from bailing out banks with their savings, Cyprus reminds us that is a purely FDR invention of the 30's here in the US.
Silver all over the place all night long. Futures down 1.5% the general market.
Yet another aberration of the Commerce Clause?
I see it as a symptom of the debt money system gone awry because I believe that Jefferson was spot on when it comes to banks.