Eurocrats Prepare to Confiscate Savings Accounts


This is why some people have been stockpiling ammo:

At first we thought Reuters had been punk’d in its article titled “EU executive sees personal savings used to plug long-term financing gap” which disclosed the latest leaked proposal by the European Commission, but after several hours without a retraction, we realized that the story is sadly true. Sadly, because everything that we warned about in “There May Be Only Painful Ways Out Of The Crisis” back in September of 2011, and everything that the depositors and citizens of Cyprus had to live through, seems on the verge of going continental. In a nutshell, and in Reuters’ own words, “the savings of the European Union’s 500 million citizens could be used to fund long-term investments to boost the economy and help plug the gap left by banks since the financial crisis, an EU document says.” What is left unsaid is that the “usage” will be on a purely involuntary basis, at the discretion of the “union”, and can thus best be described as confiscation.

By “long-term investments,” bureaucrats mean “continuing flagrant waste.”

“The Commission will ask the bloc’s insurance watchdog in the second half of this year for advice on a possible draft law “to mobilize more personal pension savings for long-term financing”, the document said.”

That is, for financing of the bloated welfare state waste machine.

Socialists’ pathological greed is never sated. It is only a matter of time until Obama et al. follow this lead by collectivizing (i.e., confiscating) our retirement savings and bank accounts to fund the ongoing fundamental transformation, which will not be complete until all of America’s wealth has been depleted. Obama’s new myRA scheme indicates that the Regime is already thinking along these lines.

When that day comes, we will discover whether Americans still have enough character to choose armed resistance over slavery. Even if we don’t, the ammo will still come in handy to use as currency if the government collapses after it finally runs out of other people’s money.

One currency our rulers make more valuable instead of less.

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