Why Cyprus' cash crisis couldn't happen in America
And why the Founding Fathers are to thank for it
- Duration 5:45
- Date Mar 18, 2013
And why the Founding Fathers are to thank for it
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So Cyprus is mulling a plan to tax bank deposits in their country the breakdown.
Below 100000 euros are gonna be taxes six point 75%.
Above a 100000 euros or -- at nine point 9%.
About 500000 euros you're taxed at 15%.
This wholesale robbery is -- citizens to rush to get their money out.
The response the banks close for so how can a government as -- that it can get away witness.
Because they assume they can get away with this -- cypriots can own guns it's a bear to get them there is no gun culture there.
Which then allowed to government to wonder of its docile populist.
What are they -- -- she -- us.
Well in America.
Yes we will shoot you gun control advocates -- gun owners over their belief that guns protect us from government tyranny but ask yourself this what would happen.
If the government here try to take over your bank account.
-- it would be on Cyprus just proved that Joseph Biden's notion of all you need is a shotgun is deeply flawed.
Sadly though this steal from the rich mentality is alive and well in America river Occupy Wall Street.
And how -- -- is the Cyprus solution from the class warfare rhetoric that demands your wealth get spread around.
The defense against this toxic ideology is -- only reason.
But it's -- in with a rifle.
So yeah it'll never happen here you had a good sense of our founding fathers that bank for a so Eric what are the odds of this happening if you -- -- -- -- not -- I mean how are they not.
Taking to the streets and waiting -- -- will I think that was his name for this vote is what's happened either later tonight or tomorrow so that at some point that the side cite previous six Cypriot cypriots would probably go -- -- it what all.
You know good Europeans -- -- in brightness stretch when when Arnold stars when stuff happen so let's point something out they'll.
But -- is offered may be to help them out also couple international banks have offered to help them -- and the reason why Cyprus is doing this because.
They are out of money they can't print their own currency the part of the your -- -- -- We can print their own money that's why it can't happen here to be like California saying.
Screw you guys are gonna print our own California currency when -- can't because.
The feds to insure the deposits of California back so it probably can't happen here but I like your analogy of taking your stuff government take your stuff.
It's just like if they came to take your house -- Virtue of yes and gender food and everything especially your food data they're gonna take every -- that Russia is gonna bail them out in exchange for -- gas exploration rights.
-- -- about this -- that the Europeans need to figure out so that EU.
That giving union is saying to the cypriots -- -- what you're gonna need to do so that we can do this bailout bail and type program for you so.
What are the things -- they've not done is tell -- their own.
Energy independence in there and -- they could've done pipelines that have done their own exploration.
And instead of and let the Russians come into it in the Russian I was the problem in the first place because -- always people that put their money in to the banks there from Russia into a Cypriot banks.
That acids are too big and then they don't pay for the services to the country is know what it's going broke the Russians -- -- They're trying to take advantage of the situation this is not you know conduct out of order for them -- think we're gonna do -- for you.
You do some press kind of like what Tom was saying for gonna go and help while -- these other countries but troops there and his American life.
-- well what do you -- get back to give a business that transaction I think I admire it and I understand it.
Best thing about this week and I got a little Latin cartoon thing and it had a little lexicon.
And he had you know pot -- there was no golden and they sit.
-- what happens -- -- goalies that Obama re distributed.
Not write an essay that claimed they -- again -- -- I'm OK there's always this gun control argument in the American Media that says okay.
Gun advocates always are we talking about government tyranny.
And that's to some kind of paranoid leftovers were in a civilized society now this could never happen but all don't we can't we just look over Cyprus -- No that's a civilized society and they're stealing from their people -- and I.
You walk -- first -- at one point about the Russians the Russians are the large controllers and natural gas in Europe.
They had been shown to use it for political purposes they've shut off the gas to the georgians when they need to do it.
Give them -- -- foothold in natural gas -- -- asking that much more trouble want to -- let's remember that this this that Cyprus went through and then in the seventies went through a civil war.
Between those who -- aligned with the Turks and those -- -- of the Greeks.
There were a lot of guns there they saw the eighth largest per per capita owners of guns and yet they were there a lot of guns were taken away.
I suspect that there will not be.
-- warfare over this it will get bailed out -- The question is could it happen here.
I'm not sure it was Eric wanted to that we can go -- front money but.
I ideas that have very real question about whether citizens can take up guns and take over the country.
Has -- out I asked those depositors as this.
It's cypriots will who they rather have we've been rather give them by the government or they like the Russians debate that to literally by their infrastructure and then they're made whole.
Southern village of Boston's bats a better government candidates in ask is the biggest let -- Russians -- good blood.
That I know that's and that's exactly what they -- -- -- -- Bill -- and -- if you know -- the hard your whole life and you put -- 50000 dollars.
And all of a sudden they take six point oh and by the -- flat top mattress time people and a blonde girls have been waiting for you to say that -- yeah I.
-- go to go to the matches as.
The current NA resources do -- Sorry about that I couldn't resist it it's.