In message , Huge
writes
On 2013-03-21, Tony Bryer wrote:
On Mon, 18 Mar 2013 07:34:46 -0700 (PDT) Harry wrote :
I wonder if our gov.will ever get round to the idea of taking 10% out
of everyone's bank account?

http://www.reuters.com/article/2013/...iament-idUSBRE
92G03I20130317

If you reckon that it would be reasonable to get 5% interest on your
savings and instead you're getting 0.05% or somesuch silly rate, you'll
be 10% down after a couple of years.

QE has reduced the value of (y)our savings by far more than 10%. The only
difference between QE and what the Cypriot authorities are doing is that
the latter is more blatant. Either way, the State is stealing your
possessions for its own ends.


It's passing quite a lot of it on to borrowers.
--
bert