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Depositor Haircuts: The New Norman

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"What could go wrong?" Virtually anything. "It's only a matter of time before (crisis conditions reach) hyperdrive, and we have an event even worse than 2008."

Zero Hedge says Russia's "next in line to restrict cash transactions. (They're) taking a page from the Europeans' book."

Russia Beyond the Headlines said "Russia to ban cash transactions over $10,000." It plans to "slash the amount of cash in domestic trade."

It may do so by 2015. It's "expected to boost" bank reserves "and put a damper on (its) shadow economy. However, the middle class will most likely end up having to pay the price for the scheme."

 

According to Zero Hedge, leaders realize that "limits of fiscal and monetary policy have been reached."

They're "now changing rules, limiting freedom, and (instituting) outright confiscation (as) the only way to maintain a status quo."

Doing so reflects predatory capitalism's failure. It's a house of cards. It's heading perhaps for eventual collapse. At risk is whether it takes humanity with it when it does.

Stephen Lendman lives in Chicago. He can be reached at Email address removed

His new book is titled "Banker Occupation: Waging Financial War on Humanity."

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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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