Learn your lesson, little people of Europe

Rules are for the little people:

During the period when all banks in Cyprus were supposedly closed, Russian oligarchs, Cypriot politicians, and other depositors — who just happen to be extremely wealthy and influential — were somehow able to spirit their assets out of the country before the levy kicked in, leaving medium-sized depositors, mostly entrepreneurs, to bear the brunt of the “haircut”. —Dirty Money, Clean Money: Cyprus and Germany | Gates of Vienna.

What was it that Ayn Rand said? When you take away the economy of money, you get the economy of pull.

1 thought on “Learn your lesson, little people of Europe

  1. Sword of Apollo

    That’s what a mixed economy is: interest group warfare. The poorer citizens try to make the rich unjustly pay for everything with their superior votes, and the rich who have pull counter with lobbying. (This is just one type of such warfare. There is also the old against the young, etc.) If we want to stop this peacetime warfare, we need laissez-faire capitalism, in which the government is restricted from granting such favors.

Comments are closed.