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Depositor Haircuts: The New Norman

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Under Patriot Act provisions, it may seize them with no warrant. It can do so anywhere. Banco de Mattress isn't safe.

Investor Jim Rogers said "run for the hills now. I'm doing it." Cyprus is no one-off.

"I want to make sure that I don't get trapped," he said. "Think of all the poor souls that just thought they had a simple bank account." 

"Now they find out that they are making a 'contribution' to the stability of Cyprus. The gall of these politicians."

"If you're going to listen to government, you're going to go bankrupt very quickly." 

"I, for one, am making sure I don't have too much money in any one specific bank account anywhere in the world, because now there is a precedent," 

"The IMF has said 'sure, loot the bank accounts. The EU has said 'loot the bank accounts, so you can be sure that other countries when problems come, are going to say, 'Well, it's condoned by the EU. It's condoned by the IMF. So let's do it too.' "

 

The Daily Bell asked "What Is The REAL Euro End Game? It is time to apply the free-market to bank depositors."

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VISIT MY WEBSITE: stephenlendman.org (Home - Stephen Lendman). Contact at lendmanstephen@sbcglobal.net.  My two Wall Street books are timely reading: "How Wall Street Fleeces America: Privatized Banking, Government (more...)
 

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