Cyprus Needs to Happen, So Stop Crying like a Bitch
In case you live under a rock, Cyprus needed a way to cover their economic losses, and as a result anyone with a bank account that contains over €100,000 will lose up to 60% of their money. Is this a result of poor banking decisions? In many ways, yes. However, if you want to know who's truly responsible, just look in the mirror. Why, you ask? Do you have a bank account? Why did you choose your bank? Did they offer you free money for using their Debit card? Free checks? No monthly fee? High interest yielding accounts? Hmm…great benefits...how does your bank afford all that? Do they take a percentage of every deposit? No?? Is the bank manager prostituting on a street corner to make you money? Probably not. So how does a bank that gets no money from the depositor make enough profit to not only protect your money, but also pay employees and offer you such incredible perks?
Four words… too big to fail. What the fuck does that even mean? It means when you walk into a bank in the US, and see that pretty gold sign that says your deposits are FDIC Insured, you are personally contributing to the shit show that is the banker bailouts. Congratulations asshole.
Pretty much, any FDIC insured bank promises you, the depositor, that no matter what happens to the bank, or the economy, you will always have that money (up to $250,000). This allows banks to take your money, make really poor, high risk investments, and when shit hits the fan, they just give Ben Bernanke a call and he'll print you out some more money. Courtesy of the American taxpayer, and the devaluation of the fiat currency they call money.
So now you are probably asking yourself why this is possibly a good thing? Well, if there's anything, if not the ONLY thing scumbags on this planet care about, it's their MONEY. Cyprus had deposit insurance too.
Since its start in 1913 the Federal Reserve, whose sole purpose was to make sure something like the Great Depression never happened again, has somehow managed to devalue our dollar by almost 100%.
Of course, the value of the fiat currency is completely based on things like how much gold we have locked in Fort Knox, which doesn't change. All that printing the Fed does only makes it that much more difficult to fill your gas tank and feed your family. Of course the value of the dollar as it stands today, is assuming that Fort Knox actually has any gold left in it. Considering the last time anyone saw the inside of Fort Knox was 1974, and Presidents since have been denied requests to visit, I would bet my money that there's nothing inside there.
So what's to be learned from all this? Stop putting your money in banks! You want to save money? Buy gold and silver, those things will retain their value while our dollar continues to decline. You're better off stashing cash in your mattress than putting it in the bank. Because even if you get your $200,000 in Monopoly money back from your failing FDIC insured bank, it's coming right from your tax money. Either way, you are getting royally screwed by banks who we have been told by our government are too big to fail. So the only way to unscrew ourselves is to stop giving banks our money, so we force them to fail. If you don't, you have nobody to blame but yourself when shit gets real. American's have had ample time to wake up and smell the damn coffee.
By the way, I wasn't kidding about the Monopoly money. Everyone at the Federal Reserve is laughing at us right now…
I swear on everything I love when Cyprus happens in the US, the first rich asshole that complains about losing their money is going to get a purse filled with gold bars right across the face.