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Depositor Haircuts: The New Norman

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Strategy involves shifting responsibility from taxpayers to depositors. Things ahead won't be the same. Eurocrats' policy is wrongheaded. They're deepening crisis conditions, not alleviating them.

They believe achieving "full-on political union" depends on it. Their well-documented comments reflect it.

"".Cyprus shock and subsequent statements are not only deliberate, but have contributed to spreading uncertainty throughout Europe." 

"Now people no longer trust their banks, contributing to their destabilization."

"If you have a bank crisis, the last thing you want to do is further destabilize trust and confidence in the system. But Brussels Eurocrats have done just that."

"Don't think it was a mistake. If one accepts that line of thinking, the ramifications are serious and deep from a sociopolitical, political and investment standpoint."

The Economic Collapse blog said global elites plan to loot bank accounts. Don't be surprised when they steal yours.

"They are already very clearly telling you that they are going to do it." Your money is theirs. It's up for grabs on demand.

People put money in banks for safety. Removing it "jeopardize(s) the entire system." Cyprus is a tip of a giant iceberg. Major global banks are highly leveraged. Many are insolvent.

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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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