EU Considering Savings Account Confiscation, Is USA Next?

Given the American president’s fondness for national socialism, the chances of this coming to America are actually fairly high. After all, isn’t he the same guy who got a law passed that forces you to purchase something you don’t want and if you refuse will fine you and throw you into prison?

Yep, that’s the guy…

Zero Hedge: 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.

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