Skip to main content

View Diary: Cyprus: Trial Balloon of the Plutocracy (47 comments)

Comment Preferences

  •  The biggest and most lasting effect of this move (2+ / 0-)
    Recommended by:
    LaFeminista, whataboutbob

    may end up being psychological.  Cyprus was long considered to be the Cayman Islands of Europe and now they are doing the unthinkable by reaching into to people banks accounts and taking.  Banking is built upon a foundation of trust and that has now been violated.  As you said, the plutocrats are making noise as a distraction.  I am sure the "loss" to them is a small price to pay to cover their bad gambling debts, though they would never admit it.  No, it is the common person who is going to bear the brunt of this and the fundamental distrust of their entire financial system and the government that it will sow will eat away at that society like a cancer.  Like cancer, it can spread to the other parts of the body world.

    •  The loss of confidence in the system is purely (2+ / 0-)
      Recommended by:
      tardis10, gulfgal98

      self inflicted, due to greed

      "Another world is not only possible, she is on her way. On a quiet day, I can hear her breathing." Arundhati Roy

      by LaFeminista on Tue Mar 19, 2013 at 02:22:02 AM PDT

      [ Parent ]

    •  Banking is legalized thievery, unless the cost of (3+ / 0-)

      keeping money safe is directly attributable to the effort to keep accurate accounts. Borrowing and lending are useful enterprises, if the cost of the loan is, again, related to the cost of keeping records -- not based on the social reputation of a borrower or the tradition of letting individuals who already owe much borrow more while poor people aren't permitted to borrow at all.

      We organize governments to deliver services and prevent abuse.

      by hannah on Tue Mar 19, 2013 at 03:40:26 AM PDT

      [ Parent ]

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site