By Stephen Lendman
Under Patriot Act provisions, it may seize them with no warrant. It can do so anywhere. Banco de Mattress isn't safe.
"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 who rob old ladies in the street, or hold up security vans, are branded as thieves."
"Yet when Germany presides over a heist of billions of pounds from private savers' Cyprus bank accounts, to 'save the euro' for the hundredth time, this is claimed as high statesmanship.""It is nothing of the sort….It has struck fear into the hearts of hundreds of millions of European citizens, because it establishes a dire precedent.If Eurocrats can loot Cyprus, why not anywhere."This is the most brutal display since 2008 of how far the euro-committed nations are willing to go to save the tottering single currency.""It shows that the zone's crisis will run and run to the grievous disadvantage" of most everyone."Surely the euro cannot long survive by such anti-democratic means. It certainly does not deserve to."
"Europe is out of options and out of money."It's "totally and completely bust."Its banks are highly leveraged. They can't raise capital "because no one in their right mind wants to invest in them….""European nations are bankrupt because AGAIN no one in their right mind wants to buy their bonds UNLESS they believe they can dump their investments on the ECB at a later date. Who is the greater fool there?”Europe isn't fixed because enough capital isn't there to do it. "Europe and its alleged backstops are out of money. This includes Germany, the ECB, and the mega-bailout funds such as the ESM (European Stability Mechanism)."The ECB is "chock full of garbage debts." It's insolvent. It can print money, "but once the BIG collateral call hits, (it's) useless because (what's needed) would implode the system.""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."
Russia's "next in line to restrict cash transactions. (They're) taking a page from the Europeans' book."
"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."