-Could Politicians Loot Your Savings Account As They Did in Cyprus?
-They ALREADY HAVE ... And Have Plans to Take It All!
A Savings Survival Guide
BY Craig R. Smith and Lowell Ponte
On March 15, 2013, the citizens of Cyprus lost trust in their banks.
Bank of Cyprus depositors with more than 100,000 euros may now lose 60% of their savings as part of the bailout, Cyprus officials say.
The centrality of property rights is the real reason why the "Cyprus Crisis" now threatens to go viral worldwide.
"This deal sets a dangerous legal precedent. It allows governments to loot private bank accounts if spendaholic politicians need the money," says Craig R. Smith, author and Swiss America Chairman.
"We are witnessing the beginning of the end of socialism," Mr. Smith told Fox News "Your World with Neil Cavuto" recently. He argues that when people lose confidence in both their government and banks, they will take their money and run for safety.
According to Smith, "A century of progressive socialism in European countries is finally collapsing - which is good news! In the U.S. we need to make a hard right turn away from this failed EU model, or our economy will end up sinking too."
If the Eurozone falls, it could easily drag the rest of the world down with it, because the EU accounts for 25% of the world's economy and 10% of U.S exports.
Americans who act wisely today can secure their life savings against what happened to the money and private bank accounts of Cyprus.
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