Posted Aug 31, 2017 by Martin Armstrong
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In March 2013 Cyprus performed a forced loan through their banking system of about 50%. You have warned that if they do it there, they will do it here. Are trading accounts safe?
ANSWER: The Cyprus event was instigated by Germany’s fixation with its hyperinflation and thus they are fighting that battle whereas the USA is still fighting the Great Depression and deflation. Both of these experiences dictate the policy divergences between the USA and the EU. Thus, the deflation imposed in Cyrus is more likely in Europe than the USA.