Wednesday, March 20, 2013


Shoot, I barely know where Cyprus is, and if I had to navigate an aircraft to it, we would be in trouble because my knowledge is only general.

Understandably, I didn't really get too interested in the unrest there recently...until I read an article that described why the people of Cyprus are upset. The government is in dire financial condition, and the European Union has been trying to figure out a way to solve that dilemma. The Cypriots (is that what you call them?) want a bail out, ala Greece. The rest of Europe said "Wait a minute."

Here's what they came up with, and what the new president is doing: the European leaders asked the President to confiscate/steal/whatever about 10% of the money that people and businesses have on deposit with all the banks in Cyprus.

Have you ever heard of anything like that? How dangerous. Imagine if our President were to simply say that the government was going to proceed to close all the banks and when they reopen, we would have 10% less money than when they closed.

Dangerous precedent.

I am going to find out more about this, and if it turns out to be different than what is described, and I hope it is, I will let you know.

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