Obama´s shutting down the WH tours may have a lot more meaning than it does on the face of it.Obama´s trying to create the impression that this country is so cash strapped it can´t even afford these tours any more. It could all be a set up to start raiding people´s personal wealth. People aren´t stashing money in the caymans and other places to simply avoid taxes,they´re afraid of losing their money in a government wealth grab.

Taking a wild guess,i think the stock market´s value is over inflated around 30%.I guess that´s a couple trillion in phony wealth created by Bernake´s money pumps.Why is the investment community doing so much better than the real economy which is stagnated at 1.5% growth rate?

Why isn´t any of this artificial wealth trickling down to the real economy. Number one is the fat cats benefiting from this already have all they need.

Barry recently said he doesn´t worry about the U.S. debt because it isn´t really any problem. I guess that´s because he and his traveling DNC sycophants still have plans to confiscate everyone´s 401k´s.

Central Planning, from the Soviets to EU "officials" in Brussels... You´d think that having lived so near to the Soviet threat for so long, Europeans would understand that dictating economies from above only results in misery. One is forced to conclude that within the EU there is more sympathy for Soviet tactics than will ever be admitted. Sorry, Cyprus.

This has the potential to cause a ripple effect of trouble - exponentially. Geez Louise...

So are we just supposed to sit here and wait for them to take the 401K´s? I´m not sure what to do.

Note this is not just the 401k and 403b accounts. This is across the board.

This is Redistribution 101.

Now that ALL transactions are subject to government scrutiny (as those $10,000 and more have been for years), we can´t even quietly get out our cash to put in our own safe.

If the shelves weren´t bare at your local sporting goods store, I´d recommend buying as much precious metals as you can.

Governments with a redistribution philosophy always end up stealing everyone´s money. Then they can dole it out to their cronies and throw crumbs to the masses which produces extreme poverty and that will result in civil unrest. The state must come in and quash the violence. Vast numbers of people die. The remaining people are enslaved by an oppressive government for their own good. The privileged few and their connected friends prosper. The rest are subjected to a life of despair. Unfortunately, this time, the United States won´t be able to save them because they have been set on the same path by redistributionists here.

#6, when we refinanced the house around the middle of last year, we were required to pay off a relatively small home equity loan--less than half that $10k most of us think is gong to be scrutinized. We put the money in our checking account and when I called the mortgage guy to arrange the electronic transfer, he wanted to know where it came from.

I was annoye3d but managed to restrain myself. Started out with "it´s less than $10k." Response: well, some financial institutions think that´s a lot of money. Did you borrow it? I finally told him it came from under the mattress but he warned me I might have to produce some proof. The mattress doesn´t issue receipts, I said. He didn´t think it was funny.

I felt a bit like a criminal for being able to come up with some cash and told him I thought it was none of his or the institution´s or anybody else´s business. This was NOT a government loan, btw. But apparently new regs require the amount be explained.

#6, take it out in small increments. The only problem is, even if you have it stashed under the mattress, it ultimately may be worthless if zippy succeeds.

This level of theft is a Democrat wet dream. 401Ks, bank accounts, anything they can get their hands on. Take away the savings of the "privileged" and redistribute it among their constituents.

10, That´s the problem...it´s already devalued if it sits in a checking account drawing 0.15% or less because inflation is more than that.

#9, you should have seen the circus that ensued when we bought our first new car in many, many years last year. I told them it would be a cash sale, and did they want a cashier´s check or was a personal check acceptable. "No problem," a personal check would be fine. I am the bean-counter and paper-pusher in this family so I sat there and wrote the check. They took it away to get it "verified" and came back and said there was a problem with it. Since I knew there was plenty more in the account than the check was for, I said I would call the bank. Then there was a smoke and mirrors act (well practiced, we now suspect) in which they said, Oh no, why doesn´t Mr. L write one and we´ll try that. Lo and behold, it was just fine! I called the bank anyway. They said there was no reason for it not to work with my signature (which is the one they see 99% of the time anyway).

So what was up with that?

Idiotic ideas like this are why guns and ammo are selling like crazy.

Will this FINALLY wake up the LoFos when the progs try this here?

Good rule of thumb...when thieves run the government, there will be theft. The only question is how much and when.

Now you know why Homeland Security has been buying up all the ammo and armored vehicles. They know we´re going to start shooting when they start thieving. And they´re right.

Someone else suggested that we put together a deck of cards showing the top communist candidates for targets. Great idea.

DC is already seizing 10% of our bank deposits through inflation. Cypress can´t print money so it has to be open about its confiscation, but the effect is the same.

Gotta pay for Michelle´s Birthday Party somehow!

Exactly 16 and I have been holding cash for quite some time losing more and more each day.

Some pretty scary news and posts here.
Remember, the wonderfully scary healthcare bill gives Uncle Sugar access to our bank accounts? The IRS is the gatekeeper. Yup, that´s reassuring.
Of course, our debt is no problem for zippy once he realizes he can seize the funds we and our employers spent years saving and investing.
God help us!

I think that the haircut was meant to compensate for the extra seven or so percent the reckless depositors were earning in interest (compared to Euro deposits in non Cyprus banks) in these criminally-controlled banks. They should have let the banks fail and those depositors lose 100% like they did in Iceland.

Still, one less scary way to have accomplished the same thing was to give everyone back the principle plus normal (1/2) percent interest. But everyone posting seems to think the answer is to let the Euro taxpayer foot the bill.

Hold on to your hats -- folks -- it´s gonna be a bumpy ride......

Charles of Fox Business has been predicting this for months.... He´s the best because he tells the truth....

LZK

You can´t fix stupid, #14.

Anyway, everybody should be grateful that we are still allowed to carry any cash at all. People who carry what the Government considers to be a large amount, which is any amount they say it is, stand to have their money confiscated if they travel by air. If airport "security" finds $10k or more on you they take it under the guise that you are probably a drug dealer. Never mind that you are a lawful citizen with a lawful reason to be carrying the money. Besides, since when do I need a reason to carry my own money?

They want to track and tax and re-tax every dollar you have until they have it all - and nothing less will satisfy them. And it´s not just Democrats. "Land of the Free?" I don´t think so!

Glenn Beck will be talking about this coming up in about five minutes.

The thing that kills me is the socialists are doing this to save the banks from failing. Apparently they had no clue that this is more likely to cause the banks to fail and what is even more - could end the EU.

I hate conspiracy theories but I wouldn´t be surprised that the Soros´es are behind this as they sell the Euro short.

The end of banking as we have known it Bring on the Fascist state, what´s mine is mine, what´s yours is mine...it´s good for "society" dontcha know? All those people slobbering in the street need to be protected like an endangered species--the left desperately need their votes. Or at least the left needs their faces and SS#´s and who´s to know what happens to these people when usefulness is gone.

My expectation is we will have hyperinflation. Even with 2,717 MRAP and 1.6 billion hollow points the government elite could not control NYC even with the Bloomberg Army equipped POlice. Gold and asset based companies would soar in value along with the $10 loaf of bread, gallon of milk and gallon of gas. And the low information voters will suffer more than the rest of us for their lack of education and wisdom.

Wait, what happened to all of the Hossana´s last week with the stockmarket soaring over 14,000 and lower unemployment? Is everyone pretending not to notice our entire financial system is broken? We are in much worse sbape than these EU countries and its about to smack the idiots of this country upside the head.

Pope Francis dealt with these sort of austerity measures in Argentina, now he is on stage in Italy just in time to see it hitting there. As Revrun Wright would say the chickensss are coming home to roost. Irresponsible spending and govt waste make this inevitable. Obama makes it inevitable but very few GOP leaders are on record sounding the alarm and none of them made the situation better when they had control. GOP leaders are dithering now by not forcing spending restraint with the debt ceiling power of the purse which they do have.

If you´ll forgive another post--my suggestion is if you have more cash than you need, put it in, e.g., your house payment (if you have one). You can pay ahead for as far as you can see, in most cases. Just make sure you fill out the return stub correctly (i.e., write the amount as extra principal, otherwise the bank will treat it as an interest payment).

If that´s not an option, how about putting the extra into fixing those things on the house or car you´ve been putting off?

I´m sure Ldotters have lots of suggestions to share.

P.S. If you plan to make charitable donations this year, money or goods, do it now. How long will we have that deduction--or mortgage interest, for that matter?

See GM bondholders if you don´t think it can happen here.

"The moment the idea is admitted into society that property is not as sacred as the law of God, and that there is not a force of law and public justice to protect it, anarchy and tyranny commence."

-John Adams

Take as much as you can afford out of your paycheck each week and buy metals. Silver, brass and lead, then hide them all well.

The LoFos will not know anything about this because it won´t be reported, other than on right-oriented blogs. If we had Repubs in charge, the news would be all over it. But they must protect Obama no matter what, so they will ignore this and the LoFos will continue on in ignorance.

This is a done deal here in Amerika lord
messiah o´bama will just skirt congress and
declare it a National Emergency and sign an
executive order and take our money!!

#26, I have been predicting Hyperinflation ever since the Fed started adding 0s and monetizing the debt. The only reason it hasn´t really taken off yet is the miserable condition the economy is in.

If the economy takes off look out. We will see inflation Argentina style.

The thing that really irks me is the ruling elite don´t care how much a gallon of milk, a gallon of gasoline, or a loaf of bread costs. It´s pennies on the dollar to them.

We may have enough to get by but the working poor are really going to get hit hard.

#20 I don´t know where you are getting your information from, but my 1-year fixed deposits here in Cyprus (I live in Cyprus) are getting 4.2% and I immediately pay 15% tax on the interest earned as soon as it is posted to the account. I know of no bank offering 7%.

All right, here´s the quick and dirty way to understand the EU. Rent "Weekend At Bernie´s." Apply Bernie´s condition to Greece, Spain, Portugal, Italy, Cyprus, Ireland, (and with France´s mandatory 500K housing starts per year mandate with a max of 269K possible buyers per year) France real soon. They´re all Bernie. The people at the party are most economists and almost all the econ journalists plus bondholders, preferred bondholders and banks. The two zany guys are the IMF, ECB, EU and maybe Merkel, but definitely all the Eurozon-o-crats who know beyond doubt that BERNIE IS FREAKIN DEAD!. You ought to get it from now on that whenever most of the people at the party claim, "Yeah I just talked to Bernie. He´s so funny!" They´re lying. Bernie is DEAD, period and short of a shoot ´em up war, Bernie is NEVER coming back.

Agree with the scary points raised above.

There is another point no one has mentioned yet. The low-hanging fruit for them is bank accounts with more than the FDIC limit (currently $250K, I think).

Judge Napolitano (the good Napolitano, not the evil Napolitano) was on Varney´s show this morning and Varney asked the Judge could this Cypriot thing happen in America. He said yes and they could do this with zero legal repercussions if they simply confiscate the money in all accounts that is greater than the FDIC limit.

The Feds ´promise´ to insure every dollar of money in banks that is under the FDIC limit. Anything more than that in an account is ´excess´ that will be trimmed off.

One more thing to those worried about this happening in the US. It already has. Your money is being stolen every time the Fed breaks out the HP printers to pay for debt, pay off bonds, buy failed mortgages, bail out TBTF banks, etc. No need to rob your bank account directly when its being robbed by Keynes and monetarists in the form of inflation, job loss, higher taxes, Obamacare, ad infinitum, ad nauseum. It´ll be a lot better though once Hillary is prez and Moochie´s the VP. We could save a lot of time and misery though if we´d just kill our own grand kids before they turn 18.

Attercliffe´s comment puts it right up front, folks. Obie don´t bother to conceal anything at this point because he thinks there is nothing to stop him, even the dim drones in congress have been silenced. So, I say again, what are we going to do about it?

Pay attention, all. Obie is a quick learner.

#36, even 4% is insane.