RE: RE: Cyprus... Governments steal money from pensioners, students, and working parents every day.
Anybody that holds paper money loses value every time an extra dollar is printed. "Quantitative Easing" is just a polite phrase for theft. When they print a billion dollars and put it in circulation that lowers the value of every other paper dollar held in pockets or bank accounts.
If you give me a paper IOU for a chicken I sold you, and I print another IOU just like it, that chicken you bought from me is now worth 2 chickens. You owe me 2 chickens now. IF you let me get away with printing that extra IOU.
Who do you think gets the shaft in this process? Rich people? Not a chance. They mostly have hard assets. Gold, Oil, Baseball Cards.
They ones getting screwed are the ones holding paper dollars; pensioners, students, working parents, etc.