Thursday, 13 February 2014

If at first.....................from Rico

Remember Cyprus anybody?
Still think that EUrope is 'fixed' and 'all better' now?
Think again.
The EU has just taken a page from the FED's book, the page that says "if at first you don't succeed, repeat what didn't work."
I wonder how many will pay attention to this rather significant report from Reuters?
"The EU executive sees personal savings used to plug financing gap."
....translated into any language other than Belgian waffle, this means....
the personal savings of 500 million EU citizens could be involuntarily used [read: confiscated] EU-wide.
- Think of it as the Cyprus theft gone continental.
And, as an added bonus, the ECB is also seriously looking at negative interest rates.
- When you're being stupid, you might as well double-down on it...just in case it might work.
NOT that the US has not already launched the first salvo in their very own campaign to steal their own citizens' savings. [Think: MyRA, and understand that it means what you thought was 'your RA' is now 'My RA'...the "my" being the government's.]
Thought for the day, and the take away:
- It is now more dangerous to stand between a 'broke' and insolvent government and your own money than it used to be to get between Chuckie Schumer and a microphone.

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