But maybe the European Union (EU) is no longer a civilised democracy?

16 Mar

Not that it ever was…

Saxo Bank CEO: “This Is Full-Blown Socialism And I Still Can’t Believe It Happened”

Really? This is a surprise…

This is a breach of fundamental property rights, dictated to a small country by foreign powers and it must make every bank depositor in Europe shiver. Although the representatives at the bailout press conference tried to present this as a one-off, they were not willing to rule out similar measures elsewhere – not that it would have mattered much as the trust is gone anyway. It is now difficult to expect any kind of limitation to what measures the Troika and EU might take when the crisis really starts to bite.

If you can do this once, you can do it again. if you can confiscate 10 percent of a bank customer’s money, you can confiscate 25, 50 or even 100 percent. I now believe we will see worse as the panic increases, with politicians desperately trying to keep the EUR alive.

The sooner the Euro dies the better – let’s just hope the violence is limited…

Zero Hedge


4 Responses to “But maybe the European Union (EU) is no longer a civilised democracy?”

  1. tiffany267 March 17, 2013 at 7:10 pm #

    It’s pretty horrifying news, regardless of the percent of theft. It simply disgusts me that I’ve inherited this awful world with no where I can escape. There is no corner of the globe where private property actually means anything. After all this time, humanity is still playing in the dirt when it comes to individual rights.

    • kootenaybob March 17, 2013 at 7:12 pm #

      We need to speak up, and challenge the liberal and media narrative.

      • tiffany267 March 18, 2013 at 2:48 pm #

        Gross oversimplification of the problems before us, and quite frankly I’m tired of seeing people buy into this “liberal/conservative” binary. There isn’t one. There are statists and libertarians. Anyone not for 100% liberty is the enemy, regardless of whichever evil platform they support. Evil is evil.

        Also, speaking up unfortunately is probably not enough. The U.S. military-industrial-complex and its intelligence agencies, as well as the long arm of the EU for that matter, are far too powerful to let a few grassroots bloggers slow down their global massacre. Sorry, but it’s just not that simple, and it’s not a liberal agenda or a conservative agenda – people are being blinded with petty details when the big picture is what matters.

      • kootenaybob March 18, 2013 at 3:16 pm #

        Let me qualify my comment – the problems before us are simple to understand and identify, and while the solutions are also simple, they are not easy to implement.

        I accept your observation re conservative v. liberal. The conflict has always been individualism/good v. collectivism/evil. That is a continuum for most people – so its easy for some to hold individualist views, while embracing some collectivist values – doesn’t make them bad people, rather it makes them candidates for either side to influence. The only way to encourage people to remove the blinders, even if just for awhile, or on specific issues and not the “big picture” – is to speak up, challenge the statist (mostly liberal!) message with reasoned principled alternatives.

        The challenge is framing the alternatives in ways that don’t alienate those who will listen. We (conservative/libertarians) tend to rely too much on logic and evidence – we need to appeal to emotion and conscience to help make our case.

        At the end of the day, if you and I (and a few grassroots bloggers…) don’t speak out, prospect for supporters and challenge the mainstream, who will?

        Fight for the best, prepare for the worst.

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