What is transpiring in Cyprus is the inception for governments around the world to claim, albeit illegal, that they can tax your bank accounts and thus electronically drain a percentage of your savings, investment or business accounts to pay off government debt or bailout banks and other countries.

The EU, itself propped up by the IMF and other financial institutions, through its’ commission as urged on by the IMF, World Bank came up with this proposal to tax all citizen, resident and corporate savings accounts in Cyprus.

The speaker of the Cypriot parliament correctly and honestly labelled it for what it is:

"Essentially parliament is called to legalize a decision to rob depositor’s blind, against every written and unwritten law."

The revenue taxing schema was introduced by EU and IMF technocrats and bureaucrats and is similar in nature and consequences to that of the Townshend Acts in June of 1767.

Since 1764 and prior governments have continued their search for money from citizens and residents for the simple reason that governments Do Not have money of their own!

All their revenues come from your earnings, no matter where it is, through taxation, double taxation and now triple taxation of your earnings, profits, savings, pensions, investment income and even ones assets at death.

These financial crises of the European Union along with current national and international banking and governmental financial mismanagement are the results of greed and unsustainable social programs conceived and conspired between banks, international financial institutions, regulators, political parties and governments combined.

Our public apathy with the closed door decisions and behind the scenes politics between political parties coupled with a general lack of knowledge or indifference to the complex intertwined business practices between banks, financial institutions, and political parties and their appointed technocrats and career bureaucrats we as voters and taxpayers continue searching for answers in the wrong places and from the same incompetent and greed-driven sources.

Citizens, residents, tourists, small business owners and corporations from around the world are all depositors and should today realize and understand that there is now no protection for after-tax earnings anywhere in the world.

Including such places as Luxembourg, Panama, Anguilla, Gibraltar, Dominican, Nevis, the Bahamas, Seychelles, Switzerland, Cayman Islands, Puerto Rico, Singapore or Romania from new government tax levies on assets or cash deposited with banks or financial institutions in deposit boxes, savings or business accounts.

Also, the public should come to the political reality and understanding of the events that lead up to and caused this worldwide financial mess and governmental bailout fiasco around the globe.

One needs to look no farther than the mismanagement of governments, the printing of money based on air, ( Federal Reserve Banks) the monetization of debt altogether and combined with the greed of financial institutions, governments and their approved regulatory practices for the likes of Interest rate swap Securitization , Collateralized Debt Obligations , Credit Default Swaps all coupled together with government social policies for affordable housing and mortgage programs ( subprime mortgages).

To date, not one career party politician, banker, politically appointed, technocrats or career bureaucrat has been charged for lack of due diligence, breach of trust, fraud and conspiracy to deregulate monetary financial safeguards for investors or the public in general?

Thanks to Lia Glykis for sending me a copy of the article herein attached bellow @ to this comment. It is another profoundly interesting and thought-provoking analysis and commentary on perhaps the beginning of the end of the euro and the eurozone.

@ http://www.pytheas.net/docs/20130318%20Cyprus%20-%20Is%20the%20European%20Union%20opening%20Pandora's%20Box.pdf

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