GOVERNMENT CONFISCATION OF BANK AND RETIREMENT ACCOUNTS
By Chuck MacNab
By Chuck MacNab
This article is a good rundown on what is happening in Cyprus. How the banks got in so much trouble, why the legislature saved the day, and maybe the rest of us from a similar fate. To read the article click on the link below:
Editor's comment:It is worth noting that, according to some reports, Nancy Pelosi's Democrat Caucus was associated with a "report" put forth by Professor Teresa Ghilarducci that advocated "takeover" (confiscation) of American citizen's retirement accounts. (http://swordattheready.wordpress.com/2012/11/30/obama-to-nationalize-confiscate-nations-401ks-retirement-accounts/)
It is also worth thinking about that should the Democrats win a majority in the House of Representatives in 2014, a similar idea may emerge in the Democrat camp once again. With the House, Senate and White House in radical liberal hands, we could well see confiscation of retirement money and a lot of other property being taken by the government. They are well on their way to doing it through taxation right now but if they once again controlled both Congress and the White House, there would be no need to "sell" their program to a naïve population ...they would just pass the legislation the same way they did Obamacare and it would be worse here than what is happening to bank depositors on Cyprus.
Of course they would "replace" your property with a promissory note! Wow! At that point, the Constitution would become TOTALLY null and void because another one of its major purposes, the prevention of the theft of private property by government, would have been eliminated.
The above LINK was sent to us by Alabama Guest Editor MD