Could the Government Take Your Banked Money?

 

Most of my fellow Americans are well aware of the sequester we are dealing with at the moment. As a military wife I have spent a lot of time researching how it might effect my family and those we care about. Many Americans are seen complaining but what are we actually doing? We simply can not understand why those we have elected, hired, have created this mess and not done their jobs to prevent it or at least correct it. Dark times indeed. While our government is in tatters, the supposed heart beat of the economy is going strong. How can this be? I guess that is post for another day. I guess we should count our blessings that we are not in the UK!

 Europe To Take Deposited Bank Money

I am not well schooled on this topic so please excuse me if I don’t get ever detail correct. To sum this up though, it is my understanding that Parliament is meeting on Monday to vote on a bailout that they have negotiated hard for. In short, any bank account with over 100,000 to Cyprus bank will have 9.9% less in it come Tuesday. This money is going to not only bail out the bank but also the country. One might think, well 9.9% isn’t a lot for someone with that much money but this is also hitting those with a lot less. Any account with less than 100,000 in it will be charged a 6.75 levy.

    Our Money is Not Safe in Banks!

I know saying that is a sure fire way to get pegged as someone with a tin foil hat on but if it can happen in the UK, are any of us really safe from it? While I am happy to pay taxes, and help my country, money in the bank specially for the working poor should be safe. People shouldn’t just wake up one day to less money without any real notice.

       So why not just take your money out of the bank?

While this idea crossed my mind as a solution for those with a Cyprus Bank account, the legislation they are passing puts a freeze on their accounts, meaning people can’t take out their money before this happens. One has to wonder, how will this action effect the economy there and the confidence those citizens have in their government and banks? Will banks now be mattresses and freezers once again?

         Who does have a good economy?

One has to wonder about what countries are doing well and how they might be different than ours and the UK. Is the UK also dominated by a revolving door between government and corporations? It seems to me that my Government is not being run by the people and for the people but rather by Large Corporations and for Large Corporations as they seem to be the only ones in this country doing well. Is the UK the same way? Are those in power to make laws and protect people going from government to high paying positions in Corporations they where to be regulating before like here in the US? Who can we trust?

1 Comment

  1. Trey

    It’s a dire situation over there for sure. On this side of the pond it’s been the thoughts of some Republicans that Democrats want to do a similar thing to our 401ks. Essentially what would happen is a set % would be taken to pay down debts. That is obviously bad, very bad and I don’t think that anyone in this country would stand for it, especially with the stupidity on both sides of the political fence in DC.

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