Confiscating the customer deposits in Cyprus banks was not a one-off. It could happen here.
Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone “troika” officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds.
Read more: http://www.alternet.org/economy/think-your-money-safe-think-again-confiscation-scheme-planned-us-and-uk-depositors