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Bank Bail-In
Old 07-10-2014, 12:22 PM   #1
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Bank Bail-In

Is there any concern out there about US bank account deposits being "taxed" as property?
Spain Issues Retroactive 0.03% Tax
Spain will retroactively tax bank deposits to January 1, 2014 stating the move will boost growth and job creation.
RIGHT – Taking money from businesses and potential customers PROMOTES economic growth.
"… the German government approved plans to force creditors into propping up struggling banks across Europe…. This ensures that in times of crisis mainly owners and creditors will contribute to solving the crisis, and not taxpayers…"
NOTE: "creditors" includes depositors... remember Cyprus?

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Old 07-10-2014, 01:36 PM   #2
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About the only thing left with the short term interest rate at zero. Pretty much more of the same, just going negative.

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Old 07-10-2014, 02:05 PM   #3
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I can't image any politician foolish enough to support that. Well, I guess a few would but not in numbers enough to matter.

Then again, a lot of people couldn't imagine the Pennsylvania Railroad going bust either.
I heard the call to do nothing. So I answered it.
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