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Cyprus Bank Heist: A True Game-Changer

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By Chris Martenson
Monday, March 18th, 2013

Cyprus Bank Heist: A True Game-Changer

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By Chris Martenson on
Monday, March 18th, 2013
56

This weekend on 3/16/13, under pressure from IMF bankers and a push from German politicians, a Cyprus bailout deal was approved that would take the bulk of the bailout fund from the private bank accounts of Cyprus bank depositors.  Yes, you read that right; savers were determined to be the logical target to bail out the profligate. The reaction from depositors, predictably, was intensely negative.  They are furious and shocked. This is a complete game-changer.  It means that even money in the bank is not safe.  It implies that money in pension and money market accounts is not safe, either. 

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