The Euro community told Cyprus they would help them with their financial crisis if the Cyprus government confiscated up to
10% of the deposits in the banks in Cyprus. The Cyprus government said no. We do not know what will happen in Cyprus and how this will affect the European economy and in turn the world economy.
Could this type of confiscation happen in the United States? The answer is yes, and it is happening right now. Of course it is being done on a more subtle basis. The government is not directly deducting funds from our bank accounts, but they are confiscating money from us every day. We have seen our energy costs double in a matter of a couple of years. This is confiscation. Obama told us before the election in 2008, energy prices should more than double so his inefficient green policy will be able to be implemented.
The Federal Reserve is greatly increasing the money supply and has been doing this for several years. This has enabled the perception that the economy has been growing. Take away the artificial element caused by the Fed and we would have shown negative growth most every quarter of the Marxist/Progressives administration. We are having funds extracted from us every day of the week because of this expansion. Have you gone to the grocery store? I know we are told we have no inflation or low inflation, but then to measure this inflation, things we buy every day are not part of the equation. The net effect is equivalent to the Fed deducting funds directly from your bank account. The dollar you earned will only purchase groceries worth ninety-five cents. You just lost five cents. Could what was proposed in Cyprus happen here? It is happening, only in a way the Marxist/Progressives think we do not notice.