Folks,
You better start waking up to what is beginning to develop in Europe. Last night the IMF forced Cyprus to charge people with deposits in their banks a one time fee.
Cyprus will impose a levy of 6.75% on deposits of less
than 100,000 Euros and 9.9% above 100,000 Euros. The measures will raise 5.8 billion euros, according to Dutch Finance Minister
Jeroen Dijsselbloem, who leads the group of euro-area ministers.
So just think some day you wake up and all of a sudden the US Government will force the banks to charge a one time fee ranging between 6.75% and 9.9% on all deposits. In addition they will not allow you to take money out of the bank before it's implemented either. If you don't think that can happen here you are mistaken especially if the US continues to pile on debt.
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