It Can Happen Here: The Confiscation Scheme Planned For U.S. And U.K. Depositors

[dixiegrrrrl]

70. Get back to me in 3 months when you know the value of those bank shares.

did you forget the original plan was to confiscate EVERY depositor's money?
Under and over 250,000, insured or not?
and the government at the time claimed since it was not a "bank loss" that insurance was not in effect?

Do you realize that some of the "wealthy" depositors are businesses which support the economy?
and by taking those deposits, the businesses have no way to stay alive?

That "system as a whole" which you identify as being saved, is the bank's system, seeing as how it was actually broke, it benfitted from stealing the depositor's money.

In an ordinary bank bust, all the money is ...gone., and the depositors who are not insured lose out.
In Cyprus, all the uninsured money was taken by the bank, to use as a bribe to the Troika so it could borrow
even more money to cover up its bankruptcy.
It did this by taking the stolen money and putting into a bad bank, then shutting down the bad bank, and designating the other bank as a "good bank" which continues to act like a bank.
The stolen money was then given to the "loan shark"..the Troika, the ECB.
That ain't success of an economy...that is kicking the can further down the street into a blind alley.
If you can't afford to pay the loan shark except by stealing, then you have a problem with earning the rest of the money you need to live.
Hitting the wall is a certainty, it just puts off the inevitable.

"the two largest effects are - income inequality is improved, and a failed economy is put closer to balance. "

Income inequality is NOT improved, since the closed bank employees are now jobless,
the small businesses which lost their operating capital are now closed,
and bank rationing means many people cannot make full payments for their mortgages and bills, thus are in deep financial trouble.
I cannot fathom how this brings a failed economy closer to balance.
It has the opposite effect.