Let The Bail-Ins Begin! The Ban on Cash & Move to Electronic Money Will Appear in Europe First

• Let The Bail-Ins Begin
  by Martin Armstrong, http://www.armstrongeconomics.com/
  Portugal is starting to bail-in banks. The fascinating aspect that nobody seems to see is that this is a total failure of socialism. ….
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  We have now gone beyond TOO BIG TO FAIL to TOO BIG TO BAILOUT.  Thus, all the promises from socialism are collapsing from Social Security, to pensions and insuring banks. This is what I have stated for the past 30+ years. We are headed into BIG BANG (which began 2015.75), which is more than just a sovereign debt crisis; it is the total collapse of socialism and a crisis in democracy. We have watched our forecasts made back in 1985 unfold on time and in perfect harmony with history.
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  As Bloomberg has reported, the bail-in has begun in Portugal. These people will simply confiscate our money and now they are trying to move to electronic money to prevent bank runs and hiding cash. The move to electronic money will appear in Europe first.
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  This is BIG BANG — the total collapse of SOCIALISM as the result of politicians who are incapable of, not just forecasting the economy, but managing it. If I managed your money and lost it each month, then returned always asking for more, just how many months would you continue to give me more money until you said enough is enough? The mere fact that politicians raise taxes PROVES they are incapable of managing even a bubble gum machine. They squander the money, and when the machine is empty they simply rob us blind to fill it up again.
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