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Cyprus government confiscates 10% of personal bank accounts. Coming to USA?

Discussion in 'BBS Hangout: Debate & Discussion' started by otisthorpe3, Mar 18, 2013.

  1. Kyrodis

    Kyrodis Member

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    An increase in the money supply alone doesn't cause inflation. It has to increase relative to the amount of goods/services created or provided in the economy.

    Those that're railing against the government "taxing" through inflation overlook the fact that the money supply increases every time a private bank extends a loan. In fact, the vast majority (like 95% if I recall correctly) of money sitting in people's banks accounts today is the result of loan extended earlier.
     
  2. MoonDogg

    MoonDogg Member

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    Someone is going to wake up with a Russian horse head in their bed.

    [​IMG]
     
  3. JuanValdez

    JuanValdez Member

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    The finance version of collateral damage. Like kids blown up along-side a known terrorist, it kinda sucks.

    Taxes are monies that governments collect from people and spend on stuff. The value you lose to inflation is not recouped by the US Government to pay its obligations. So, it is not a tax. Not every time that you lose money and get nothing explicitly back is it a tax. Losing your wallet at the mall is not a tax.
     
  4. Commodore

    Commodore Member

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    First they came for the Russian oligarchs, but I did not speak up because I was not a Russian oligarch ....
     
  5. sammy

    sammy Member

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    The company I work for has an office in Cyprus. I'll have to talk to the expats when they come home..
     
    #25 sammy, Mar 18, 2013
    Last edited: Mar 19, 2013
  6. TheresTheDagger

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    Thats just insane.

    Who the hell thought that was a good idea?
     

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