They Came for Their Money

March 18, 2013 at 2:58 PM

Here’s a quick news brief.  Apparently, the government of Cyprus simply went in and took up to 15% of the money in people’s bank accounts.  Why?  To keep the country from going belly up, apparently.

Initial reports stated that the original European Union (EU)/International Monetary Fund (IMF) plan involved taking as much as 40% of the money that people had in their accounts.  This was done this past Saturday and caused a run on ATM machines by people throughout the nation who wanted to take as much of their money out of the banks as possible.

The idea that any government can simply come into your personal bank account and remove money is unbelievable, but we’d better believe it because it happened in Cyprus and it could happen elsewhere.  This may be the beginning of death throes for the EU.  As one article noted, “the brazen confiscation of hard-earned savings was met with a mixture of seething anger and outright terror — fury over the confiscation of wealth that has already been taxed, and fear that similar plots could be hatched in countries such as Greece, Italy, Spain, Portugal, or even in Northern Europe. Top officials have declined to say whether the ‘tax’ on deposits could be forced on other nations, too.” [1]

In essence, for the most part, the money that was in bank accounts had already been taxed (through wages), but was taxed again because the government said it needed to literally confiscate that money to keep Cyprus solvent.  The article I’ve quoted above goes onto say that some critics refer to the scheme as thievery and others call it nothing more than “full-blown socialism.”

Of course, the situation could become far worse, which also may be why the banks have been given a “holiday” and remain closed for a number of days (until Thursday) yet to let things calm down.  What this has shown us is that your money is simply not safe in a bank, at least if you are part of the EU.  With the way things are going here in the United States, a good question to ask is how far away we are from that occurring here? EU officials have also not ruled out future, additional taxation.

I have written about things like this before and that one day, due to the economic mess that we are seeing throughout many areas of the world, it is not beyond the realm of possibility that a new, one-world currency may be introduced in the next few years.  We’ll just have to see what transpires.

In the meantime, if you do have some money in the bank here in America, you may wish to take at least some of it out to have on hand.  Then again, I was just reading another article today indicating that high numbers of people have resorted to drawing on their retirement accounts to maintain their financial equilibrium.

Of course, if we listen to Nancy Pelosi, she makes welfare sound great.  “It is the biggest bang for the buck when you do food stamps and unemployment insurance. The biggest bang for the buck.”  Thanks Nancy.  The more (on welfare) the merrier, I guess is her way of thinking of it.  I guess she hasn’t made the connection that in order to pay for welfare, people have to be taxed.  Hey wait!  The government can always take more in taxes!  Yeah, there you go…the Left’s default response for everything.

It’s also what got the EU into the mess that it’s in.

[1] http://thenewamerican.com/economy/markets/item/14813-panic-grips-europe-as-cyprus-eu-and-imf-confiscate-savings

Entry filed under: Religious - Christian - Prophecy.

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