This week will be looked back by history as one that stood still; while the establishment licked its chops at stealing savings deposits outright - without the guise of a trading error such as MF Global/JPM - Americans lauded it would never happen here. Anyone in their right mind has now begun to pull ALL of their savings from their bank and diversified at least half of their savings into precious metal. Of course, Americans are not in their right minds, and presumably neither are most Europeans.
One question that comes to mind is: What were the Global Bankers thinking trying to blatantly steal around $8B from depositors in Cyprus? In the aggregate this is chump change and I would have a hard time believing that this would go unnoticed by even a small percentage of the Western populations. That is why I think more than trying to rattle Russian Oilgarchs, or steal a small amount of money, this move was put forth so people would do exactly what is rational - this was done to cause bank runs.
The bet is that people in Greece, Spain, Italy, and other States on the brink of absolute economic disaster will run their cash out of the banks and cause bank failures across the continent. The reason is the establishment wants to blame those people and institute a cashless society so that bank runs can not happen. Then, when enough fiat has been takne out to leave the bank loans unfunded, the value of the fiat will go "poof" and everyone will need the government/banks to create a new system. This one will be cashless, so the people, who will be painted as "foolish" for crashing the banking system, will not crash the system again.
The only solution is for people to exchange the fiat for real money - precious metal - so that when the banks collapse and the currency loses value there will be enough people who can trade without the banks dictating the credit system.
I think it will be slow to start, but by the end of the Spring there will be enough whispers about bank failures and depositor "taxes" that a great amount of cash will be held outside of banks. Once again, the reaction by the establishment will be a cashless society; John Pierpont Morgan created the Federal Reserve to solve the problem of a bank run in the 20th Century and now a cashless society will solve today's bank run. This has been the plan all along, and now we have seen how it will be implemented and who will be blamed.