Cyprus Government Stealing Depositors Money for New Brand of Austerity
With the world watching the new brand of banking austerity taking place in the tiny island of Cyprus many will not see the United States’ own version of austerity.
The Senate on Friday voted for what has been called the “Amazon tax” which allows states to tax businesses outside of their borders. The tax received very strong bi-partisan support in a congress not known to work well together.
While the legislation is non-binding, meaning that the details of the new tax will have to be hammered out in subsequent legislation, “Brick and mortar” companies are hailing the passing of the new law, as now they will not have to adapt to the changing economy.
Interestingly enough, the bill was passed with the help of 26 free market worshiping republican senators. Of course the mantra behind the passing of the bill is that it will help local small business owners compete with larger competitors. This of course will not work any better than central banking has helped to create jobs.
With the ongoing wealth confiscation developing in Cyprus, the U.S’s desperate attempts to siphon off as much wealth from the people as possible should not go unnoticed.
While the world is watching what a corrupt bankrupt government is capable of, they may not notice the noose that is ever so slightly being tightened around the wealth producers necks here in the United States. Austerity is going worldwide. The U.S only has one advantage in that its time is farther down the road.
With these kinds of austerity measures occurring it is no wonder that gold silver and bitcoin interests are at all time highs. While the metals haven’t got the assistance that it should’ve with this government-sanctioned theft, Bitcoin has certainly shown well.
Gold and especially silver’s time will certainly come again as banker theft becomes more blatant in the mist of the ongoing world financial meltdown. Look around to see what is ahead. The banks have shown their card. It is time the people showed theirs by moving their wealth outside the banking larcenists hands and moving it to hard assets instead.