Columbia, SC — Many bank depositors in Cyprus will find money withdrawn from their bank accounts without their authorization. This little country is so far in debt that wealth confiscation and extreme austerity might be the only answer.
Don’t say it cannot happen here. We are $16 trillion in debt and counting. That doesn’t include Social Security and Medicare. The Federal Reserve is buying $85 billion in bonds and notes every month to keep the interest rates down.
We’d better stand up for austerity and a balanced budget soon, or we’ll be like Greece and Cyprus.