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

Commerce, Commercial Intelligence, Corruption, Government
0Shares

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.

Opt in for free daily update from this free blog. Separately The Steele Report ($11/mo) offers weekly text report and live webinar exclusive to paid subscribers, who can also ask questions of Robert. Or donate to ask questions directly of Robert.