In response to:

Can It Happen Here?

Derek85 Wrote: Mar 26, 2013 10:42 PM
With constant increases in taxes, huge inheritance taxes, restrictions on gift-giving, and now just pulling your savings out of your savings account ...... the politicians are teaching us to spend everything, save nothing. The more you spend and the less you save, the more benefits you will receive and lower taxes you will pay.

The decision of the government in Cyprus to simply take money out of people's bank accounts there sent shock waves around the world. People far removed from that small island nation had to wonder: "Can this happen here?"

The economic repercussions of having people feel that their money is not safe in banks can be catastrophic. Banks are not just warehouses where money can be stored. They are crucial institutions for gathering individually modest amounts of money from millions of people and transferring that money to strangers whom those people would not directly entrust it to.

Multi-billion dollar corporations, whose economies...