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Politics : President Barack Obama
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To: RetiredNow who wrote (132594)4/2/2013 1:06:05 PM
From: tejek  Read Replies (1) of 149317
 

The elites in the EU and IMF failed to learn their lesson from the popular backlash to these tax proposals, and have openly talked about using Cyprus as a template for future bank bailouts. This raises the prospect of raids on bank accounts, pension funds, and any investments the government can get its hands on. In other words, no one's money is safe in any financial institution in Europe. Bank runs are now a certainty in future crises, as the people realize that they do not really own the money in their accounts. How long before bureaucrat and banker try that here?

Your heroes always seem to underestimate the human ability to adapt and modify behaviors that are not working.
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