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What's the other option? In the USA, taking 7+% of everyone's savings on short notice would initiate a civil war. Can't imagine how another alternative would b

What's the other option? In the USA, taking 7+% of everyone's savings on short notice would initiate a civil war. Can't imagine how another alternative would be worse.

MoreMoschops 14y ago
What would the two sides be? One side is presumably every citizen, but that leaves no citizens on the other side. Sounds more like a revolution.
- khuey 14y ago
  There are plenty of Americans who have essentially zero savings.
- ctdonath 14y ago
  Account holders vs those who took (or facilitated the taking of) the money.
justincormack 14y ago
The other option is taking more than 7%. The suggestion was a 40% currency devaluation. Although no one really knows what would happen in detail.
rdtsc 14y ago
So that is they prefer to instead skim a little bit off the top slowly through inflation. In the end it doesn't matter, but it just prevents people from revolting.
tptacek 14y ago
A civil war over 7%? http://www.google.com/finance?chdnp=0&chdd=1&chds=1&chdv=0&chvs=maximized&chdeh=0&chfdeh=0&chdet=1270843200000&chddm=226726&chls=IntervalBasedLine&q=INDEXSP:.INX&ntsp=0&ei=yxdGUdn_O-WL0QG8Ig http://www.google.com/finance?chdnp=0&chdd=1&chds=1&...