The Phaserl


Perhaps We Are All Cyprus Now

from The Daily Bell:

Forget Cyprus, Nobody Is Stealing from Depositors More than Bernanke … After the Federal Reserve reaffirmed its easy money policy Wednesday, Chairman Ben Bernanke was asked whether the U.S. would ever think of taxing bank depositors as Cyprus has done. He said that was very unlikely but Jim Rickards, senior managing director of Tangent Capital Partners, says the Fed already has its hands in depositors’ pockets. – Daily Ticker

Dominant Social Theme: Cyprus is “highway robbery.”

Free-Market Analysis: This article makes the point that while the breast-beating continues over the Cyprus “haircut,” the reality is that investors are getting fleeced throughout the world and especially in the United States.

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