Mark McConaghy breaks down what we know about the deal Cyprus struck to avoid fiscal collapse, and why it sets a very dangerous precedent for fiscal policy in the 21st century. Are we going to find ourselves in a world where even our personal bank accounts are not off limits from state power? A deal […]Read more "The Age of the Bail In: Cyprus in Crisis 2"
By Mark McConaghy. The people of Cyprus are facing an egregious betrayal of trust by their own government, who has proposed to steal 10% from their citizens personal bank accounts to pay for an EU sponsored bailout. With yet another European country on the verge of total financial collapse and social upheaval, the question that […]Read more "Cyprus in Crisis"