It’s important to realise that what’s happening in Cyprus at the moment is seismic. European Union politicians, bureaucrats and bankers are colluding to plunder the assets of ordinary citizens without an iota of democratic consent. If they pull it off, it will in the fullness of time be rolled out across the Eurozone and quite possibly the UK and the US and in other advanced economies staring bankruptcy in the face (money printing notwithstanding). Will they pull it off? That depends on the scale of uprising in Cyprus. What would you do? Let them screw you over, or hit the streets? This won’t be the first time in history that a government – elected or otherwise (‘otherwise’ in the case of the European Union) – has moved to seize the assets of its citizens. Why should anybody think that what’s happening in Cyprus now might be unprecedented, even if it is deeply unsettling?
The thing to note here is the element of surprise (a good military principle). If this is ever going to happen to you and me, there’ll be no warning. Forewarned is forearmed and forearmed means a bank run; indeed, forearmed could well mean a systemic bank run. I’ve felt for some years now that, when all’s said and done, the uncontrolled undoing of the Eurozone – if it came to that – would come in the form of a systemic bank run. The underlying theme would be that the euro currency was no longer fungible.
It’s worth noting that back in September 2011 the Boston Consulting Group (BCG) by and large predicted these events in Cyprus. The BCG also pointed out that it won’t stop in Cyprus. The BCG argued that, “such mandatory, coercive wealth tax is merely the beginning for a world in which there was some $21 trillion in excess debt as of 2009 … a number which has since ballooned to over $30 trillion. And with inflation woefully late in appearing and “inflating away” said debt overhang, Europe is finally moving to Plan B – and is using Cyprus as its Guinea Pig”.
Some afterthoughts over my morning coffee …
Desperate times, desperate measures. The politicians and the bankers are stuck between a rock and a hard place. Ripping deposits from bank accounts is a quick and easy way of filling the state’s coffers; ’twas ever thus. Governments have been robbing their citizens since time immemorial. The problem for the euro-nutjobs is that the second they move to seize personal assets, as now in Cyprus, they simultaneously undermine the very currency that they’re grappling to sustain. Damned if they do rob us, damned if they don’t. Things are looking up for those of us who live in permanent unease about “the tyranny of Brussels” (to coin a term used by the Lord Mayor of London).
PS When I say ‘state’ of course, in this case I mean the nebulous, unelected, unaccountable, er, ‘thing’, that is the European Commission, the European Parliament and the European Central Bank all working together to smash the various nation states of Europe (and the UK). The European Union is really nothing more than a circle of political elites all holding hands around a tyrant’s charter (the Lisbon Treaty). The current phase of the battle against ordinary citizens is the crushing of Cyprus (with much German influence behind the curtain).
PPS Bear in mind too that the mainstream British political class believes that the European Union is an all round good thing (always a potential source of enormous personal wealth for politicians and bureaucrats). That’s why we’re not allowed a say in the UK’s continued membership of the tyranny of Brussels.
‘Collateral Damage – Back to Mesopotamia. The Looming Threat of Debt Restructuring’: http://tinyurl.com/bl8t2gg