Is this you? Are you waiting for the government that is responsible for bankrupting our country to fix a $200 trillion debt? The phrase “Too Big To Fail” should have been our first hint that our economic problems cannot be fixed. What does that mean? An economic collapse and reset. What does that mean? The dollar will become worthless. Some believe that the dollar will become “worth less”. The Federal Reserve has already accomplished that objective: worth 98% less since 1913. And this devaluation rate is rapidly increasing as we know when buying gasoline or food.
Some people understand what is coming. But most people are eating popcorn and playing video games (title reference). People cannot survive on popcorn.
Germany’s Handelsblatt reports early Friday that the ECB has informed Cypriot authorities that due to a guaranteed epic bank run of their own making that will undoubtedly begin the moment Cyprus’ banks re-open, the ECB intends to enact capital controls when (if) the Cypriot banking system re-opens next week, and that the ECB intends to enforce the capital controls unilaterally!
Handelsblatt claims Cypriot Central Bank sources have stated that the ECB intends to freeze all Cypriot savings accounts indefinitely, greatly reduce the maximum amounts of ATM withdrawals, and will require Central Bank approval for all bank transfers!
This is sure to re-instill confidence in the banking system among Greece, Portugal, Spain, Italy and the rest of the Eurozone!
If the Handelsblatt report proves true, forget 3%, 7%, 13%, or 40% haircuts…..ALL YOUR FIATS ARE BELONG TO US!!!!
It will be interesting to see how the Cypriot Parliament responds to this latest wealth confiscation attempt by the unelected ECB bureaucrats, particularly after the Cypriots failed to rubber-stamp the ECB/IMF’s initial plan for 3%/7% haircuts.