The people of Cyprus have been shown the thief that is a central government. When the power within a country is centralized, there is really nothing the people can do if the government goes rogue on them. This was one of the reasons the United States was set up as a democratic republic with federal government’s powers “clearly” defined and the balance of the power was left to the people and the states.
Enter the progressive era of the last 120 years. This has led to the consolidation of political and economic power into the hands of the few in Washington. As has been shown by Obamacare, they do and will rule against the will of the people. The stacking of the courts with liberals and progressives has led directly to a reduction of the people and the state’s power.
Now Cyprus. Can that happen in the United States? Well, many of us believe it already has started but in a less obvious manner to the United States’ low information citizenry. Thomas Sowell’s article in National Review put it very nicely:
“When the federal government spends far beyond the tax revenues it has, it gets the extra money by selling bonds. The Federal Reserve has become the biggest buyer of these bonds, since it costs them nothing to create more money.
“This new money buys just as much as the money you sacrificed to save for years. More money in circulation, without a corresponding increase in output, means rising prices. Although the numbers in your bank book may remain the same, part of the purchasing power of your money is transferred to the government. Is that really different from what Cyprus has done?”
As Sowell points out, our government is nefariously doing the same thing the Cyprus government is. Our federal government relies on the low information majority to allow it to keep up the Ponzi scheme they have created.
It will implode at some point. The questions are: when and what then?