#Cypriots tried to stage a "run on the #banks" ( #BankRun ) today, but the government shut them down before the depositors could get their #money out. It was all about meeting the #Eurozone's austerity requirements.
Go here for the latest updates: https://www.google.com/search?q=cyprus+BANK+RUN&hl=en&biw=1280&bih=600&source=univ&tbm=nws&tbo=u&sa=X&ei=hPRHUfXiA47A4AP4jID4Bw&ved=0CDAQqAI
Here's the deal: Cyprus is like the Cayman Islands of #Europe. They have 8 TIMES as much cash in Cyprus banks as the entire #GDP (gross domestic product, or annual productive capacity) of the country. But sadly, the country has been living large (like most of the rest of southern Europe - the "Siesta Countries" as some call them) and not charging enough in tax for the promised benefits they have been paying out, and pretend to be able to pay out in the future. In other words, they've been accumulating DEBT.
Well, surprise, surprise! Cyprus is WAY broke, and the plan they came up with to solve the problem (they want to stay in the Eurozone for some reason) was to CONFISCATE between 6 and 13 percent of the money in Cyprus bank accounts (the exact percentage is changing hour by hour). Guess what happened. Everybody in Cyprus was totally THRILLED with the idea! Not. (Imagine how you'd feel if you actually had a savings account, or a checking account, and the government decided tomorrow to take 10% of your money - just like that! Poof!)
And guess what else? The mighty #USA (United States of America) is in WORSE financial shape than Cyprus! And so are several other Eurozone members. Watch out for the same sort of action in #Portugal, #Spain, #Italy, and maybe #Ireland, #France, and a few others. They're all in a similarly dire straight and there's no other way out for countries that can't simply print more funny money as the #US currently does. The dupes in the Eurozone have to rely on money "approved" by #Belgium! What a joke!
An even bigger, though less funny, joke is that Allan #Greenspan (the former #Fed, or Federal Reserve, chairman before "Helicopter" Ben #Bernanke) actually SAID the Us can never go broke because it has... (get this)... PRINTING PRESSES! Which proves the rule that bankers, and especially CENTRAL bankers are super-geniuses like Dr. Gono of Zimbabwe (go see how well he managed the Zimbabwe dollar).
The #Socialist societies of Western Europe are finally having to pay the piper for borrowing and spending their children's and grandchildren's earnings! Hahahaha! What sweet poetic justice!
Sadly, there is no such enforcement mechanism in the #UnitedStates! The US can theoretically print money ad infinitum to pay any bill to any sucker willing to lend Uncle Sam credit. Like the Chinese. LOL!
But, it's not really funny. I only laugh because it is so obviously tragically inevitable that the result will be an ever-weakening dollar (ever-higher prices for stuff we need). It is SO obvious that 99.9% of elected politicians couldn't see or understand it if you held their feet up off the ground and drove them over it like you were pushing a lawn mower. (99.9% of politicians are politicians BECAUSE they are morons and incapable of doing anything productive. The .1% are simply gluttons for punishment, I guess.)
The same fate will befall ALL countries that try to spend more than they have. And the US is (except possibly for Japan) the worst culprit of all.
Where will it all end?
The #USD (US dollar) will continue to fall in value relative to real stuff like food and gasoline and rent, and the other countries in the Eurozone and Japan and all the ones that embraced socialistic spending programs based on a wish and a promise will continue to see inevitably rising prices (#INFLATION) for everything (DESPITE the lies about the "official" inflation numbers published by the government).
What can you do? Seriously? Do you HAVE to ask? If you don't know in your heart and soul already, let me make it ABSOLUTELY CLEAR: You turn all your dollars or ecus or yen or yuan or whatever you carry in your pocket into things with INTRINSIC VALUE AS FAST AS POSSIBLE - YOU BUY GOLD AND SILVER AND PLATINUM AND BULLETS AND GUNS AND LAND AND FOOD AND TOOLS AND ANYTHING BESIDES GOVERNMENT-BACKED FINANCIAL INSTRUMENTS.
And, you get it into your head once and for all that government is NOT the solution for ANYTHING. You rely upon yourself and you work with your family and friends to build a community or a business and you keep the overbearing government limited to the smallest possible size and reach. Or, in other words, you EMBRACE THE AMERICA OF THE FOUNDING FATHERS.
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