Will anyone, anywhere ever trust the banks again? This theft of
savers funds in Cyprus has shown us all what we already knew - the bamks
are not to be trusted. Of course we realise that this is a government
raid, and a so called tax, but really it's just theft, pure and simple.
We
pay taxes to support services. We get something back for our money. Not
always happy about it, but if we want hospitals, schools, even rubbish
tips, we pay.
This is something else. Banks survive on confidence.
We would rather have our cash in the bank than under a matress. Why?
Because we fear a break in. How silly do we look now? Our money is not
safe. This maybe happening on tiny Cyprus, but do the rest of us really
feel that it couldn't happen here? To us?
No wonder savers are
getting their money out. That's called a run on the bank and usually
it's caused by unnecessary panic sweeping people along. This time it's
not panic. It's simple self-preservation. This is a bad day for all of
us and one that will surely prove a turning point.
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