Tuesday, April 2, 2013

A Harbinger of Future Events

Savings accounts in Spain, Italy and other European countries will be raided if needed to preserve Europe's single currency by propping up failing banks, a senior eurozone official has announced.”

The banks are coming after your money. Bank on it (Pun intended).

In other words…If the bank where you keep your money makes bad investments, thanks to the precedent set by the Cyprus deal, your bank will now come after your savings to bail themselves out and they have the EU’s tacit approval to do so. Don’t think it can happen in America? Think again. Who runs our government? The politicians or the banks who own them? All you have to do is think back to the 2008 bank bailout for the answer. The banks got $800 billion from the US taxpayers with no strings attached, and they even changed the deal after they got the money.

Buckle up! The world economy is in for a rough ride.

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