And Here's the News

Remember the disturbance in the force just about 45 minutes ago after we had some solid positive divergences in the market averages?

Well here's what was going on (you can guess which continent it originated from)...

The Dutch Finance Minister who is currently also the head of the Eurogroup, Dijsselbloem (Diesel Boom) had this to say as everyone else on the continent in positions of power are trying to convince depositors that Cyprus was a unique, 1-off case that will never happen again... Enter Dijsselbloem

*DIJSSELBLOEM SAYS LEVY ON WEALTH IS DEFENDABLE IN PRINCIPLE


*DIJSSELBLOEM SAYS DEPOSIT GUARANTEE SYSTEMS ARE NATIONAL

If they are national, then what happened to the Euro-area $100k depositor insurance gurantee? 

It sounds like he just said, 

"What we did in Cyprus is not exceptional or 1-off, it's sound principal" 

and

 "The Euro-Area deposit gurantee insurance is no longer a sure thing, it depends on how much money your banks have and how much we, the EU think we can take from private citizens to pay back banks across Europe and especially our friends in Germany."

If they were you savings, your business, your retirement, your children's inheritance, how would you interpret the above?

You think Obama's so called, Wealth Tax is bad? In Europe they don't even get to vote on it!