Unlimited. Hypocrisy.......................from Rico

Yesterday 'two lips' from Brussels slipped and called the Cyprus debacle for what it truly is...a template for the rest of the EUrozone.

- Today, despite the immediate spin and denials, guess what? A EUrozone-wide "bail-in" [read: tax] for deposits over e100,000 is being proposed!

Oops!

- Once this toothpaste was out of the tube, there was just no stuffing-it back in. The only "stuffing" that remains to be done is of the EUro depositors!

BUT this template is not just for the EUrozone...expect to see it soon in the US.

- For those who have already 'forgotten' the decision of the Supreme Court concerning Socialized Medicine (Obamacare), it was upheld as a TAX. The Supremes said (quote) "Congress's ability to TAX and spend is unlimited." (unquote).

Such a "tax" in the US could quite easily allow a spendthrift and bankrupt government to confiscate not just deposits, but pensions and IRA's as well.

The Yankee's may soon learn the lesson of Cypriot depositers...that fiat money in the bank is NOT wealth, but only a claim on wealth, since cash on deposit with any bank is the property of the bank and you lent it to them.

Bank accounts, pensions, IRA's have just become an "all-you-can-eat" buffet for politicians and governments that have ultimately displayed their unlimited hypocrisy for all to see.

- Best pay attention here!