With all the scorn and indignation over the IMF and ECB’s attempt to steal anywhere from 9.9% to 15.6% of all Cyprus bank accounts in excess of 100,000 euros, and with this anger certainly justified, one would think that people’s scorn over banker theft via inflation, since this mechanism of banker theft has been executed at exponentially higher rates over the past several decades, would have bordered on blind rage. Globally, we have experienced 24% devaluation of the yen to begin 2013, 25% of the Pound Sterling and the Euro at the end of 2008, 53% devaluation of the Korean Won in little over a year’s time in November, 1997 and 98% devaluation of the US dollar in the last 80 years. Since all of these instances of theft exponentially outpace, and are far greater than, the one time 10%+ proposed theft of all Cyprus bank accounts, why haven’t we been infuriated by these far greater thefts by bankers from our savings accounts? To begin, we need to stop sugar-coating facts in deference to bankers and stop calling inflation a “silent tax”. It should no more be called a “tax” than should the latest attempt of bankers to steal from Cyprus bank accounts ever be referred to as a “tax”. When theft is referred to as a “tax”, it is because bankers have conditioned us to think of paying “taxes” as a part of being a “good citizen” of your nation, so they attempt to frame pure theft as just a “tax”. However, inflation is 100% theft. The bankers’planned theft of Cyprus bank accounts has been severely complicated by the secret domiciling of hundreds of billions of euros by Russian oligarchs in Cyprus, and this factor is likely a contributor to the rejection of this theft by the Cyprus parliament (for angering the type of Russians that have huge accounts in Cyprus is, as Russian President Putin, stated, far more “dangerous” than angering IMF bankers).
I discuss in the below video, why we’ve all already been “Cyprus’d” to a far greater degree than Cyprus citizens can be Cyprus’d, and how we can stop being Cyprus’d in the future. If you would like to view the below video directly on the YouTube page, please click here.
About the author: JS Kim is the founder of maalamalama, a fiercely independent investment research & consulting firm with a focus on the Precious Metals of gold & silver. Our mission is to end our current counterfeit monetary system of fiat money and to re-implement a 100% gold or gold & silver backed monetary system that serves all 7 billion global citizens instead of just serving a few dozen banking families. Follow us on twitter @skwealthacademy or on our YouTube channel here. Don’t forget to bookmark us this page and re-visit us in the future for our future commentary and to sign up for our free newsletter on our homepage here.