The Global Elite Are Very Clearly Telling Us That They Plan To Raid Our Bank AccountsMichael Snyder So exactly how did the big banks in Cyprus get into so much trouble? If they win on their bets, they become fabulously wealthy. If they lose on their bets, they know that the politicians wont let the banks fail. They know that they will get bailed out one way or another. And who pays? We do. Either our tax dollars are used to fund a government-sponsored bailout, or as we have just witnessed in Cyprus, money is directly confiscated from our bank accounts. And then the game begins again. People need to understand that the precedent that has just been set in Cyprus is a game changer. The next time that a major bank fails in Greece or Italy or Spain (or in the United States for that matter), the precedent that has been set in Cyprus will be looked to as a template for how to handle the situation. Eurogroup president Jeroen Djisselbloem has even publicly admitted that what just happened in Cyprus will serve as a model for future bank bailouts. Just check out what he said a few days ago Dijsselbloem insists that this will cause people to think about the risks before they put their money somewhere Well, as depositors in Cyprus just found out, there is a risk that you could lose 40 percent (and that is the best case scenario) of your money if you put it in the bank. Why would anyone want to take that risk especially in a nation that is already experiencing very serious financial troubles such as Greece, Italy or Spain? As if that was not enough, Dijsselbloem later went in front of the Dutch parliament and publicly defended a wealth tax like the one that was just imposed in Cyprus. Dijsselbloem is being widely criticized, and rightfully so. But at least he is being more honest that many other politicians. His predecessor as the head of the Eurogroup, Jean-Claude Juncker, once said that you have to lie to the people in order to keep the financial markets calm But Dijsselbloem is certainly not the only one among the global elite that is admitting what is coming next. Just check out what Joerg Kraemer, the chief economist at Commerzbank, recently told Handelsblatt about what he believes should be done in Italy Yikes! And as I wrote about the other day, the Finance Minister of New Zealand is proposing that bank account holders in his nation should be required to take a haircut if any banks in his nation fail. They are telling us what they plan to do. They are telling us that they plan to raid all of our bank accounts when the global financial system fails. And calling it a haircut does not change the fact of what it really is. The truth is that when they confiscate money from our bank accounts it is outright theft. Just check out what the Daily Mail had to say about the situation in Cyprus And when you cause paralysis in the banking system, a once thriving economy can freeze up almost overnight. The following is an excerpt from a report from someone that is actually living over in Cyprus Would similar things happen in the United States if there was a major banking crisis someday? That is something to think about. In any event, the problems in the rest of Europe continue to get even worse -The stock market in Greece is crashing. It is down by more than 10 percent over the past two days. -The stock markets in Italy and Spain are experiencing huge declines as well. Banking stocks are being hit particularly hard. -The Bank of Spain says that the Spanish economy will sink even deeper into recession this year. -The latest numbers from the Spanish government show that Spains debt problem is rapidly getting worse -The euro took quite a tumble on Thursday and the euro will likely continue to decline steadily in the weeks and months to come. For a very long time I have been warning that the next major wave of the economic collapse is going to originate in Europe. Hopefully people are starting to see what I am talking about. As this point, the major banks in Europe are leveraged about 26 to 1, and that is close to the kind of leverage that Lehman Brothers had when it finally collapsed. As a whole, European banks are drowning in debt, they are taking risks that are almost incomprehensible and now faith in those banks has been greatly undermined by what has happened in Cyprus. Anyone that cannot see a crisis coming in Europe simply does not understand the financial world. A moment of reckoning is rapidly approaching for Europe. The following is from a recent article by Graham Summers Right now, close to half of all money that is on deposit at banks in Europe is uninsured. As people move that uninsured money out of the banks, the amount of money that will be required to fix the banks will go up even higher. It would be wise to try to avoid the big banks at this point especially those with very large exposure to derivatives. Any financial institution that uses customer money to make reckless bets is not to be trusted. If you can find a small local bank or credit union to do business with you will probably be better off. One of the key players that was pushing the idea of a wealth tax in Cyprus was the IMF. And everyone knows that the IMF is heavily dominated by the United States. In fact, the headquarters of the IMF is located right in the heart of Washington D.C. not too far from the White House. When I worked in D.C. I would walk by the IMF headquarters quite a bit. So if the United States thought that confiscating money from bank accounts was a great idea in Cyprus, why wouldnt they implement such a thing here under similar circumstances? The global elite are telling us what they plan to do, and the game has dramatically changed. Move your money while you still can. Unfortunately, it is already too late for the people of Cyprus. This article first appeared here at the Economic Collapse Blog. Michael Snyder is a writer, speaker and activist who writes and edits his own blogs The American Dream and Economic Collapse Blog. Follow him on Twitter here. 