Friday, March 22, 2013

"Free market" shows its true colors, resorts to bank robbery

NICOSIA, CYPRUS — Cyprus is expected to make a dramatic U-turn Saturday to avert the imminent threat of a financial meltdown, having signaled that it is willing to tax big savers in its stricken banks to clinch a bailout from the European Union.
The E.U. says the only way to find the $7.5 billion that Cyprus needs to contribute to the bailout of its banks is from the depositors who put money in them.
from Cyprus closes in on E.U. bailout, U-turn on levy
And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.
Revelation 13:17 

There couldn't be a starker example of the vampiric nature of the financial "wizards" who insist on privatizing their gambling wins and socializing their losses, or a more blatant example of why we need Glass-Steagall. They mismanage the economy, and demand that we pay for their mistakes because we need them! In fact, the truth is worse: they intend to destroy the economy by diverting its resources into nonproductive and destructive activities.