Socialism is a curse we should wish only on our enemies. Any society that embraces it will become sick and weak.
You know you are a prisoner—or a slave—when your prison administrators can reach out and rob your savings account to pay for their lavish lifestyles.
It appears that backroom deals being negotiated by bankrupt Greek politicians and the European Union will likely involve a “bail-in” (as opposed to a “bailout”). All Greek banks were closed last week by government order. People with money in banks were told they could only access a small percentage of their funds. Pensioners expecting government “social-security”-style checks were provided with only a small proportion of their expected support checks.
The Financial Times is reporting that Greek banks are preparing contingency plans to raid the accounts of depositors amid fears the country is heading for financial collapse, “bankers and businesspeople with knowledge of the measures said on Friday.”
“The plans, which call for a “haircut” of at least 30 per cent on deposits above €8,000, sketch out an increasingly likely scenario for at least one bank, the sources said.”
The story is here.