Post
Topic
Board Economics
Re: My bank account's got robbed by European Commission. Over 700k is lost.
by
molecular
on 22/07/2013, 20:15:58 UTC
The people making excuses here really prove a social pattern I have observed. How extremely clear-cut does a situation have to be for people to stop taking sides. In the Zimmerman case people still took sides, even though there were little arguments for the "bad" side. Then you can come up with something almost universally agreed upon such as this video, people still blame the guy because he "shouldn't have asked for that pack of cigarettes". Then in this thread the Cyrus officials reach into zeroday's pockets, grab his money, and run away with it. Now that is a very clear-cut situation and you can figure out who is the robber and who is being robber, yet there are still people taking different sides here?

Now hold on a second...

I'm all with you on most of what you say because I'm one of the nut-jobs here that advocate the state should stay out of the economy and be separated from money.

Also I don't say OP acted wrongly or carelessly by putting his money into a bank account. I can only imagine the pain of losing such amount and I'm not saying it's his own fault or anything like that.

But please consider what actually happened here: He invested his money in the bank (under false pretense that it would be safely "stored" there, which is not the case as we know now, in hindsight). The bank fucked up (gambled with the money and lost it).

Now what can be done is 2 options: bail-in (OP pays for the loss) or bail-out (tax-payer of Europe pay for the loss).

Actually it's hard for me to take sides here. Honestly, I'd probably have to say I'm with Max Keiser: hang the banksters! However after we chop their heads off: what then? The situation is fucking unbearable. Noone has a solution to offer. There's lots of hindsight, of course and everyone is pointing fingers and stating how things should've been done in the first place. Well guess what: it's too late now and it doesn't matter who's at fault.

All (fiat) money will vanish because everyone will default in a huge chain reaction. The great credit contraction.