It seems that the worst nightmare has finally come true. Government now tries to take a share of the hard earned money of the people directly from their private savings accounts. Natural News reports that the government in Cyprus has struck a deal with International Monetary Fund very recently in order to pave the way for have a share of the money saved in private accounts. The deal is designed to empower the government take up to 10 percent of the deposits made by private individuals. The government now claims a part of the private money as its own.
According to government sources this is being done to prevent the collapse of the country’s economy, but experts opine that it may result into catastrophe. People in other economically stressed countries in Europe may anticipate that their governments can also take similar steps and may draw huge amounts of money from their accounts in order to protect their cash. This would result in a total collapse of the banking system. The people of Cyprus are grossly disappointed with the government with its new decision, reports Natural News. More at http://www.naturalnews.com/039522_Cyprus_government_looting_bank_accounts.html .
Mike Adams says that the term ‘haircut’ that is being used to describe the government’s initiative to devour a share of the money deposited in private savings accounts should be stopped immediately. He goes on to say that it is outright theft on part of the government. There is no room for justifying this attitude of the government and it should be stopped at any cost. It is only the banking barons who never get such a ‘haircut’ and moreover receives a majority of what the government takes from the general public. Instead of taking such actions against the general people, the government should arrest the defaulting bankers in order to prevent of the collapse of the economy. View more of this at http://www.naturalnews.com/039539_bank_accounts_haircut_Cyprus.html