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EU, ECB, and IMF: The Three Amigos rob depositors

Last night the Three Amigos pulled off a bank heist, without firing a shot. The expropriation of over 5 billion euros of deposits in Cypriot banks was deemed a “bank restructuring” instead of a deposit tax so the the Cypriot government could issue an executive order with no pesky approval by parliament required. That’s like having President Obama steal your bank deposits over the objections of Congress. Of course, that’s not going to happen because the US government is not beholden to the Three Amigo Dimwits that have managed to bring Europe back into recession in the name of “saving the euro.”

They are claiming, with each disastrous step, that they are “having to destroy the economy in order to save it” to paraphrase the defense offered after the 1968 Vietnam Mi Lai massacre.

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