OK folks – the fact that we are EVEN having this sort of conversation in the midst of the Cyprus absconsion is enough to put you on alert!-A.M.
Bernanke on Cyprus and taxing bank deposits in the U.S.
Highlight clip from Bernanke’s press conference last week. Runs 2 minutes, and it takes Ben nearly that long to answer the question, before finally, in the last 10 seconds, he says it is “extremely unlikely” to happen in the U.S. He does not say, however, that taxing or seizing assets from bank accounts is impossible. This is a door left wide open.