In response to:

Have Money in a Spanish Bank? Take It Out Now

MoreFreedom Wrote: Mar 18, 2013 8:56 PM
Actually this isn't theft, and it's not any different than a tax enacted overnight. No tax is fair (in spite of what the fair tax proponents will say) simply because all taxes represent value forcibly taken from people. And don't think this means I endorse this case of confiscation. Many government tax wealth, and this is a wealth tax - just on your wealth of deposits in the Cyprus banks. Similarly, many businesses pay an inventory tax. What I do like about this tax, is that it's a great example of just how unfair taxes are. But, we get what we vote for. And Cyprus voted for this via their actions.

In Cyprus, a decision was made to screw savers with a 6.75% to 9.9% "Tax" on deposits.

Supposedly this move was made to "avoid unsettling investors in larger countries and sparking a new round of market contagion."

In reality, the action was mandated theft, imposed by EU officials to protect senior bondholders.

How can such an action do anything but cause contagion?

The move is expected to raise a mere 5.8 billion euros according to Dutch Finance Minister Jeroen Dijsselbloem, leader of the euro-area ministers. Fallout...