Cyprus has agreed to confiscate a percentage of the savings of large depositors in order to satisfy demands from the European Union creditors..


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The day of reckoning looms: Cyprus has agreed to confiscate a percentage of the savings of large depositors in order to satisfy demands from its European Union creditors..

This is only a hint of what’s coming for us here in the U.S. Like the European Union, eventually the federal government is going to go bankrupt, and when that happens it (being the politicians in charge) will then decide that the savings and pensions of private citizens will have to save them somehow.

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One comment

  • BSJ

    I’ve always felt that they’re going to stick it to my 401k some day. Too much money just sitting there for them to not want to get a bigger cut…

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