Rickard Falkvinge: Banks Lose Public Trust, Run on Banks Looming

Commerce, Commercial Intelligence, Corruption, Government

Rickard Falkvinge
Rickard Falkvinge

After Cyprus, New Tolls For The Euro

Reflections: After the attempted tolls on bank savings in Cyprus for saving the Euro, a new kind of tolls can be heard in the distance for the currency. The fundamental trust in the currency as a store of value has been broken, according to multiple signs across Europe. Even with the Cypriot parliament backpedaling frantically, the situation appears snowballing – there could be a bank run in two weeks.

. . . . . . . . .

In the past days with the Cypriot bailout measure, these first signs of a currency collapse scenario have materialized. People are now actively seeking to trade off their Euros, no longer trusting them as a store of value. When this has happened in the past to currencies, they have not survived.

Read full article.