The World Just Got 10x More Dangerous – Cyprus

Can one little nation destroy democracy as we know? Maybe…

For those who do not follow world financial trends.  Europe is in trouble, heck all of Western civilization is in a debt crisis.  But Europe is feeling it more so in their weaker nations.

Cyprus is currently the talk of the town, and were about to receive a German funded bailout. But having bailed out a few nations already, the EU chose to do something different. They wanted Cyprus to help, by implementing a tax on deposits. A 10% tax on deposits over 100,000 Euros. But not to leave joe-average Cryprus resident feeling left out. Those with under a 100,000 Euros would be hit with a 6.75% tax. 

http://finance.yahoo.com/blogs/daily-ticker/why-cyprus-bail-bigger-deal-think-141844402.html

Imagine if your savings or 401K/IRAs suddenly lost 10% of their value to bail out the government.  Needless to say, you’d probably go to your bank and withdraw all your cash.  Cash out your 401K and pay the penalty.  This already is being talked about potentially triggering a run on the banks. [Remember, the entire purpose of the bailouts was to maintain confidence that our money and deposits would be safe in the banks. To prevent a 1930’s style run. This one act could undue all of the confidence in banks.

You really have to wonder what the EU/Germans are thinking.  This could lead to riots, revolutions, etc. Beyond being disgusting. This act heavily penalizes those who were prudent. It reaffirms to those who lived beyond their means, are in debt and have little to no savings that is the best way to live, while those who saved for a rainy day, didn’t give in to the consumption economy, and saved a little nest egg are now going to be robbed to the 1/10th degree.

So will this cause riots, or revolution in Cyprus?  I don’t think so. Maybe riots, but a revolution? How can they?  A quick look on Wikipedia reveals Cyprus’ gun laws.

http://en.wikipedia.org/wiki/Gun_politics#Cyprus

Summary: No handgun ownership, not even 22 caliber.  One may own a shotgun, but is restricted to a single or double-barrel unit. No pump action or semi-auto shotguns allowed.  Even air rifles are regulated.

So in other words, Cyprus’ citizens have no means to defend themselves from the brigandly robber actions of it’s government and the EU.

This is a reminder of just why the 2nd Amendment is so very important. It is truly, ALL that keeps us free. It is what separates the free man from being a mere subject and slave.

 

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Published in: on March 18, 2013 at 12:58 pm  Leave a Comment  
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