Glenn Beck On The Great Cyprus Bank Heist – And An Opportunity For The GOP

Sometimes Beck goes off on tangents which aren’t exactly productive. But in cases like this he has it exactly right.

Beck analyzes the Cypriot bank heist, in which some 30-40 percent of every bank account larger than $130,000 or so is going to be confiscated to pay off the debts of that country’s government, in the context of the leftist revolutionary – whose strategy is to bring down a capitalist system through three simultaneous classes of action: top down, bottom up and inside out.

Beck sees the Cypriot scenario as a harbinger of the end of the world. But what we see is an opportunity.

After all, while the Left might chuckle and assure us something like that could never happen in America, they don’t have any credibility on that score.

Because we know they’ve been kicking around the idea of nationalizing all the 401(k) plans.

Yes, you read that correctly…

The $19.4 trillion sitting in personal retirement accounts like the 401K may be too tempting an apple for a government that is quite broke, both monetarily and morally.  The U.S. Consumer Financial Protection Bureau director Richard Cordray recently mentioned these accounts in a recent interview, stating “That’s one of the things we’ve been exploring and are interested in, in terms of whether and what authority we have.”

This agency, created by the 2010 Dodd-Frank-Act, is very concerned about how safe your retirement savings are. They are apparently concerned that retiring baby boomers may become victims of financial scams.

If the government takes control of retirement accounts, it will not be called “nationalization.” There will most likely be an indecipherable document that provides an opt-out option (initially), but why would you want to do that? The US government only wants to ensure the safety of your retirement funds; they did after all create a new bureaucracy for that specific purpose.  And what could be a safer investment than US bonds?

But even before the government goes that far, they’re already torching your assets. What do you think quantitative easing is? When the Fed runs printing presses like there’s no tomorrow, it destroys your purchasing power through inflation.

And since the two things which best reflect inflation – energy and food – aren’t counted in the inflation measurements, because they’re “volatile,” the government can perpetuate the lie that inflation is under control.

Cyprus can’t print its own money. The Cypriots have to steal bank accounts, and then pretend they’re only going after dirty Russian mob money that was parked in Cyprus and not good Cypriot money.

But the opportunity here is the same as it was when Rand Paul took the Senate floor and embarrassed the Obama administration into conceding that no, they have no constitutional authority to drone-strike American citizens on our own soil.

Some Republican in either the Senate or House should jump on this with both feet, introduce a piece of legislation that would not only reaffirm the illegality of confiscating bank deposits or retirement accounts but make it illegal to even study such a confiscation if you’re an arm of the federal government or even an outside entity which gets federal funding.

Put the Democrats who scoff that what is happening in Cyprus would never happen here on the record. Make them vote against an American bank heist or conspiracy to effect same.

Or if they won’t, then let’s have them on the record on that as well. We’d like to know what Mary Landrieu’s position is on this. Or Mark Pryor’s. Or Kay Hagan’s. Or any of the other red-state Democrats up for re-election in the House or Senate next year.

You can say this is tin-foil hat stuff, and hopefully you’re right. But when Europe, which serves as the model for everything the Democrats are trying to do to this country – health care, government regulation of industry, global warming and energy policy, foreign policy “soft power” posturing, wealth redistribution and tax policy, union policy, financial regulation, and on and on – becomes septic and an alarming event like the Cyprus bank heist comes to pass, the American people have to look at what’s happening there and be concerned about what protections there are to prevent it from happening here.

And that’s where the GOP comes in. That’s where a Rand Paul or Ted Cruz – or whoever else is interested in getting headlines and scoring political points – comes in. Because this is a classic example of why government needs limits on its power, and it’s a perfect teachable moment where libertarian/conservative philosophy can be explained to the American people.

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