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Cypriot Quantitative Easing
American Thinker, by Bruce Johnson

Original Article

Posted By:magnante, 3/19/2013 8:16:35 AM

Remember JFK standing before the throngs of Germans and declaring "Ich bin ein Berliner"? Now imagine Ben Bernanke standing before the throngs of Cypriots and declaring that he was a Cypriot, a Cypriot politician sticking his hand into your savings account. Or maybe it was the other way around. Maybe the Cypriots knew the short cut to Bernanke´s Quantitative Easing end game. They just bluntly proposed taking the money from the accounts rather than fiddle with the cover up of printing money and devaluing the currency in question. Quicker, shorter and to the point.

      


Post Reply  

Reply 1 - Posted by: Bur Oak, 3/19/2013 8:28:54 AM     (No. 9232545)

The Federal Reserve engages in taxation without representation. It is devouring the wealth all classes except the elites in government.

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Reply 2 - Posted by: secondtimelucky, 3/19/2013 8:32:09 AM     (No. 9232553)

I always wondered how the Fed can get away with NOT factoring food and energy costs into inflation figures. Funny how that happens - a complacent media just ´´might´´ have some responsibility...

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Reply 3 - Posted by: HistoryBuff, 3/19/2013 8:35:21 AM     (No. 9232563)

Ah, yes JFK announcing "I am a jelly donut!"

Good thing he wasn´t in Frankfurt.

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Reply 4 - Posted by: krause, 3/19/2013 9:07:51 AM     (No. 9232643)

´The BLS publishes thousands of CPI indexes each month, including the headline All Items CPI for All Urban Consumers (CPI-U) and the CPI-U for All Items Less Food and Energy. The latter series, widely referred to as the "core" CPI, is closely watched by many economic analysts and policymakers under the belief that food and energy prices are volatile and are subject to price shocks that cannot be damped through monetary policy. However, all consumer goods and services, including food and energy, are represented in the headline CPI.

Most importantly, none of the prominent legislated uses of the CPI excludes food and energy. Social security and federal retirement benefits are updated each year for inflation by the All Items CPI for Urban Wage Earners and Clerical Workers (CPI-W). Individual income tax parameters and Treasury Inflation-Protected Securities (TIPS) returns are based on the All Items CPI-U.´

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Reply 5 - Posted by: southernboy, 3/19/2013 9:14:41 AM     (No. 9232655)

FTA: “...They just bluntly proposed taking the money from the accounts rather than fiddle with the cover up of printing money and devaluing the currency in question. Quicker, shorter and to the point…”

Brilliant! They don’t have to wait around for the money to be spent before it can be taxed. Now just tax it before it’s spent! And…..they are first at the trough! That it’s the money remaining AFTER it’s been taxed six ways from Sunday never crosses anyones mind. Nor do they care. After all, it all belongs to the government anyway! s/

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Reply 6 - Posted by: MickTurn, 3/19/2013 9:17:55 AM     (No. 9232662)

Nothing but pure theft at the point of a gun!

I wonder what the citizens will do to return the favor to the crooked politicians...voting them out just won´t be satisfying enough!

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Reply 7 - Posted by: maggie2u, 3/19/2013 9:35:29 AM     (No. 9232686)

Wonder what will happen if the people find out the politicians closed their accounts last week.

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Reply 8 - Posted by: shamus, 3/19/2013 9:39:09 AM     (No. 9232691)

The Fed confiscates interest from savers, while Cyprus confiscates principle. This is a difference without a distinction.

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Reply 9 - Posted by: OhMy, 3/19/2013 9:41:24 AM     (No. 9232694)

This article is right on. The only job of the Fed is to assure a strong currency and they are Obama hacks raiding everybody by diluting the currency.

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Reply 10 - Posted by: RancherJack, 3/19/2013 10:24:32 AM     (No. 9232807)

Get Your Money Out Now

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Reply 11 - Posted by: St. Pitbull, 3/19/2013 10:39:33 AM     (No. 9232851)

This is a MUST READ. Obama has taxed the bejeezus out of us and crickets are chirping.

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