The situation in Cyprus is scary.
Governments looting bank accounts of depositors for the failures of banks is scary.
Governments regulating withdraws and access to depositors own funds is scary.
The lack of world recognition of the magnitude of letting this happen is scary.
The acceptance that if it is over 100,000 Euro then less people will be upset so looting can be gotten away with is scary.
The mindset that banks are a safe heaven for money, clearly, is inaccurate.
We hope the situation in Cyprus will lead to a broader recognition that the general public should have readily accessible and easy to understand information on the stability of the bank they have their deposits located within. If a bank holding a depositors funds is effectively a custodian, then that custodian must be held accountable for their actions.
Physical assets may become more the norm a lot faster than anticipated if people do not actively protest what has occurred in Cyprus as wrong, immoral, and inappropriate in every way possible.
We extend our sympathies to those in Cyprus for bearing the brunt of this new “bailout plan” without the democratic rights to say, “No, we don’t want any part of it.”