I Am Sure the Gangsters Controlling This Country are Looking at Cyprus

for ideas how to loot people's savings accounts in order to bail themselves out of the mess they created.

Sure, it may never happen here, but I don't put it past our politicians at all to allow it:

However, the levy also ensures that working people in Cyprus are made to bear the costs for the bailout of the country’s failed financial institutions. In reality, the oligarchs and the wealthy have far greater ability to withdraw their funds than Cypriots, Greeks and other smaller investors—unless Cyprus were to take the extraordinary decision to impose capital controls.

In January, €43 billion of the €68 billion in Cypriot bank deposits was held by domestic residents, with a further five billion held by Greeks.

Some within the bourgeoisie supported the notion of making Russia pay, but most considered the taxing of small investors a political disaster, fearing that both measures raised grave dangers.

The decision to seize investors’ money overnight could provoke a bank run in other European countries—with savers in Spain, Portugal or Italy fearing the possibility that money may also be removed from their accounts in the future. Cyprus is a warning of what might happen. In the first two weeks of February alone, $1 billion in deposits were removed from banks in Cyprus, as speculation grew that the tax would be imposed.