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Fed Chairman Bernanke Confirms Cyprus Style Confiscation Possible Here Too

At this afternoon’s FOMC Press Conference, Fed Chairman Ben Bernanke just confirmed that Cyprus style depositor haircut wealth confiscation is possible here in the US “if the Cyprus event or another event in Europe were to become contagious and the people lose confidence in the US dollar’‘.

And there you have it. The entire Cyprus fiasco is now officially on the table when the financial crisis escalates here in the US!!

GOT PHYZZ??

Credit Silver Doctors
http://www.silverdoctors.com/bernanke-states-cyprus-style-de...

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Cyril's picture

"Get it out" (Nigel Farage)

Once noticed, your post got my attention at a speed not experienced in a long time.

Btw, Nigel Farage gave the world a nice tip 2 days ago about the EURO zone.

It was along the line of...

"GET your ... OUT, while you... "

While he does have a nice sense of humour/sarcasm at times - all so British - he didn't seem like he was joking, on that one.

http://www.dailypaul.com/278825/nigel-farage-to-europeans-ge...

AT ALL.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

I think Ben Bernanke was misquoted

If Cyprus or Greece can print their own Euro, no IMF bailout would be needed. Also, if others countries were to reject dollar, the money would flow back to US (75% of all printed US notes are located abroad.) In that case, Ben Bernanke would even stop QE and start destroying money.

yup

reminds me of this quote:

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

-Thomas Jefferson

yea

and it is extremely unlikely that a French style 19th century revolution would occur if the gubbermint tried to tax our bank accounts...in bernanke speak.

I got a silver round and a

I got a silver round and a few coppers as well a year ago. By far my favorite coin in my collection. Well the rest sank in a boat but I kept the Ron Paul coin.

THIS STORY EXPLAINED

To be explicit, Bernanke said that it would be "EXTREMELY UNLIKELY" that bank confiscation would happen here, and made reference to the FDIC and how the U.S. government typically tries to go other way - flood the system with FRN's, not the other way around. Although Bernanke did not say that such a confiscation was impossible, unconstitutional or illegal.

Hmm.. Maybe we should get some CLARIFICATION ON THIS? It's not about propriety its about legality or constitutionality! I feel another Rand Paul filibuster coming on!

VIDEO BELOW TAKES YOU EXACTLY TO BERNANKE'S ANSWER:
http://www.youtube.com/watch?feature=player_detailpage&v=zMz...

Fillabuster Time!

lol

Ron brought the Liberty movement together, Rand is expanding the crap out of it! :)

You can go on you tube and

You can go on you tube and have a good laugh at the dozen or so things over the past years that Bernanke said were "extremely unlikely"...then happened in the next few months or years.

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

He avoided answering the journalist's direct question

about whether the USA could do this. Maybe, the elites are *hoping* that we will do a bank run. Then, what would they do??

they got their wish

i'm out.

"The two weakest arguments for any issue on the House floor are moral and constitutional"
Ron Paul

Cyril's picture

Oh... you too...

Oh... you too...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

here you go..

http://www.youtube.com/watch?v=Yk7tI2Gozyo i uploaded a video on youtube enjoy : )

Albert Camus — 'The only way to deal with an unfree world is to become so absolutely free that your very existence is an act of rebellion.'

I smell bee ess...

I will now read the actual transcript to see what Uncle Ben said, but my spidey sense tells me that he did not say this. It's hardly as though an original video or textual transcript is hard to come by. Is this what DP has come to? Resorting to sensationalized stories and linking to websites that try to sell you silver by putting words into Bernanke's mouth?

As if reason enough didn't exist for people to get out of bank deposits, you need to scare people into confirming the correctness of your savings decision by scaring them?

Two ounces of silver to the first person who publishes a primary source proving that Bernanke actually said those words.

Unlearning and self-teaching since 2008. Thanks, Dr. Paul!

Here you go

He said it was extremely unlikely
listen from 47.29- the question was asked
http://www.federalreserve.gov/monetarypolicy/fomcpresconf201...

Ill take two of those Ron Paul Round- just kidding
http://www.providentmetals.com/1-oz-ron-paul-silver-round-99...

Please subscribe to smaulgld.com

Heres something.

Cant find one at all.

Too early i think. In in hour or two one will be posted.

Wowsers...

Anyone ever bought silver from Silver Doctors btw??? Good or bad. Thanks.

THIS IS BULLSHIT!!!

WHAT IN GODS NAME GIVE HIM THE AUDACITY TO EVEN THINK OF SUCH A THING?!

Mr. Bernanke...who are you...for real

His name is Edward Snowden

What is Capitalism?
http://youtu.be/yNF09pUPypw

Bernanke: "By the way, did I mention

Bernanke: "By the way, did I mention my friends in high places are supporting gun control".

And for the support of this Declaration, with a firm reliance on the protection of Divine Providence, we mutually pledge to each other our lives, our fortunes and our sacred honor.

question

where do you buy your silver?

I buy mine

Locally. I like those guys and they give me a real good deal on dimes.

Ron brought the Liberty movement together, Rand is expanding the crap out of it! :)

http://www.providentmetals.co

http://www.providentmetals.com/ cheap shipping prices (8$ on average)

http://www.apmex.com/ 20 bucks shipping

http://www.gainesvillecoins.com/ takes for ever to ship! i don't like all the questions they ask you when using your credit card.

over all i look at these 3 sites on average... if any good suggestions please do tell.

Unlike gold and silver..

The bitcoin market is not manipulated. Hence why bitcoins are now at 65.$. Also note that silver and gold are actually worth a whole lot more than what the regulated market shows.

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees

Too big to fail

means the bank will absorb your retirement.

This is nuts

What do I do with my 401k? How can i remove the money without getting penalized. Help!!

just pull it and suck up the loss!

that's what i did.

i have been buying silver every week. i will keep on buying until i liquidate all my dead presidents.

Anything is possible, but I don't worry about my 401k

If the government (or the banks that run our government) decides to steal everyone's 401k and liquidate them to spend the money, it will crash the markets for those investments. It would be counterproductive for them to do that. I guess anything is possible, though.

Cash deposits in bank accounts are a different story, though. The banks don't have the cash because it is loaned out. The banks can't come up with the deposits if everyone asks for it at the same time. Therefore, stealing cash deposits reduces the liability for the banks. That is one reason why I keep as little cash as possible in the bank. The other reason is that I am broke.

We all want progress, but if you're on the wrong road, progress means doing an about-turn and walking back to the right road; in that case, the man who turns back soonest is the most progressive.

-C. S. Lewis

Gold, silver, bitcoin.

Gold, silver, bitcoin.

"We’ve moved beyond the Mises textbook. We’re running in the open market." - Erik Voorhees