Wholesale governmental theft

"NICOSIA, Cyprus (AP) — Big depositors at Cyprus' largest bank may be forced to accept losses of up to 60 percent, far more than initially estimated under the European rescue package to save the country from bankruptcy, officials said Saturday.

Deposits of more than 100,000 euros ($128,000) at the Bank of Cyprus will lose 37.5 percent in money that will be converted into bank shares, according to a central bank statement. In a second raid on these accounts, depositors also could lose up to 22.5 percent more, depending on what experts determine is needed to prop up the bank's reserves. The experts will have 90 days to figure that out.

The remaining 40 percent of big deposits at the Bank of Cyprus will be "temporarily frozen" until further notice, but continue to accrue existing levels of interest plus another 10 percent."

First it was 10%, then it was 20%, then 40% now it's 60%.  Does anyone seriously believe that this will NOT go to 100% of the confiscation of all the money in those banks?  And does anyone NOT think that this is an isolated occurrence? Other countries in the EU are already saying they might follow Cyprus example.  And rumors of Democrat legislators and their supporters are talking of doing the same here in the US.  And don't say it CAN'T happen here.  It already has happened here, FDR and the forced purchase of Gold, with the government setting the prices.  That is the same thing as what is happening in Cyprus.  So if you really don't think it will happen here again, leave your money in the bank, in your 401k, in your IRA, and Money Market account.  Then ask yourself why Soros, Buffet, Kerry, Reid and others have been moving THEIR money out of US banks for the last 2 years.  They already had money held outside of the US, now they are moving large portions of their US held investments to Cayman Island accounts, Singapore accounts and according to 3 rumors I've been hearing Russian Banks are offering to transfer funds without their usual fees if the funds are being transferred to Russian banks.

Granted many of what I have been hearing is rumor and speculation.  However in most rumor there is a kernel of truth.