New EU Plan Will Make Every Bank Account In Europe Vulnerable To Cyprus-Style Wealth Confiscation

Did you actually believe that they were not going to use the precedent that they set in Cyprus?  On Thursday, EU finance ministers agreed to a shocking new plan that will make every bank account in Europe vulnerable to Cyprus-style bail-ins.  In other words, the wealth confiscation that we just witnessed in Cyprus will now be used as a template for future bank failures all over Europe.  

That means that if you have a bank account in Europe, you could wake up some morning and every penny in that account over 100,000 euros could be gone.  That is exactly what happened in Cyprus, and now EU officials plan to do the same thing all over Europe.  For quite a while EU officials insisted that Cyprus was a “special case”, but now we see that was a lie.  
International outrage over what happened in Cyprus has died down, and now they are pushing forward with what they probably had planned all along.  But why have they chosen this specific moment to implement such a plan?  Are they anticipating that we will see a wave of bank failures soon?  Do they know something that they aren’t telling us?
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2 Responses to “New EU Plan Will Make Every Bank Account In Europe Vulnerable To Cyprus-Style Wealth Confiscation”

  1. Road_Hog says:

    I read this on Zerohedge earlier this week.

    This really scares me, I wonder if we’re coming to an end game with the elites.

    I’m in the process of selling a house – not my current home, but my first house that I rented out.

    I’ll have about £180K after fees and mortgage settlement. I’m married, so we could most of it in two separate accounts to be in the £85K guarantee.

    But what’s to stop these guys changing the rules? Originally with Cyprus they were going to take money from depositors with less than 110K Euros.

    They’re coming to take our money, but where the hell do you hide it from them? And even if you had a mini Fort Knox in your house to keep your cash safe, what happens if they devalue the Pound or demonetise it and go digital only or any number of things?

    Sure, someone will come along and say buy gold, well that’s an awful lot of metal and what’s to stop them confiscating it, like they’ve done in previous hard times. Plus, you have to buy coins, because you couldn’t be sure that you weren’t buying tungsten and have you’ve called your local bullion dealer to see how much he has in stock?

    I’m UK based in case anyone suggests US based solutions.

  2. Tapestry says:

    Gold has fallen rapidly from $1800 to $1200, and looks like it will fall further. It might see $500 as it started its rise in 2001 from $250. It might be safer to buy short term government debt, as that is contractual, than hold bank deposits. The risk is if interest rates shot up, but as the loan is short and redeemable within months, that would still be pretty safe.

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