The E.U. ministers have approved the Cyprus bailout. The “deal” will be funded by seizing bank assets from some Cypriot bank depositors.
The Russian government calls it stealing. A handful of EU leaders think this solution is just fine.
Either way, a terrible precedent has been set by the E.U., BUT can something like this actually happen here? Tom says yes. Listen below as Tom paints a frighteningly realistic scenario where the the US government would go after our wealth: