Here come the “capital controls” for Cyprus’s banks.

For those who don’t know the phrase, capital controls are rules meant to prevent the flow of capital (us poor folks call it “money”) from one point to another.  Say, to prevent it from flowing from Point A, where 40% will be confiscated taxed away to Point B, where this will not happen (for now).  You will be told that this is to prevent something terrible from happening.  In the case of Cyprus, it’s to stop a bank run that would cause the collapse of the banks.  In realistic terms, these banks have already collapsed, it’s just been held in stasis a few days because they’ve been kept closed by their government.  But whatever, it’s for your own good.

Yeah, right.

End game?  Dunno, but something wicked this way comes.

Leave a Reply

Your email address will not be published. Required fields are marked *