" The problem with socialism is that you eventually run out of other people's money.” M. Thatcher
Unless they still have some in the bank...

Atlas Shrugged

I am also wrong about Russian deposits. 19b is corporate russia, another 12 b is russian banks

I left out "tender" so I edited.

Did you read that Russia is hopping mad? they have 19B (est) in Cyprus' banks. What if they retaliate by saying all foreign deposits in their banks will lose 10% of holdings.
If people start pulling their money out of banks combined with legal tender laws means you basically destroy the financial system.

yes. but those countries have now BOTH complied with the US on giving information regarding US citizen bank accounts.

The Euro/Cyprus bailout, inevitably leads one to wander back to the days after WWII and the implementation of the Marshal Plan.

The USA expended untold billions and the lives of hundreds of thousands of Americans to defeat fascism, and we've seemingly ended up with socialism winning the day, after all.

When Premier Khrushchev banged his shoe on the rostrum during his 1960 UN speech, and said that 'we will bury you', his wasn't talking about military conquest.

If I may paraphrase, the definition of insanity is repeating the same self-destructive behavior over and over again, until - - -

401Ks and IRAs first. There's already been a lot of talk about that. Gold and silver too. It's not like there hasn't been a precedent set in this country already for seizing gold and silver. The First National Bank of the Mattress is sounding much safer at this point.

By the way, if the GOP screws up and loses the House in 2014, look for the Demoscats to pull something like the Cyprus deal. I'd put money on them going after 401Ks and IRAs first.

The author made an excellent point, in that, bank depositors in Greece, Italy, and Spain have got to be worried and might start a run on those banks. It is interesting that the EU didn't force Cyprus to take money from stockholders or bondholders, which is the normal course of business in bankruptcy. My guess is that some well-heeled EU politicians and their families own such investments. Just thinking....

Anybody know how to open accounts in the Caymans or Switzerland?

It would be a cluster-f#%{ of devastating proportions. This is a very volatile situation at best. The banking system is so screwed if this spills over, and has a ripple effect here. Slowly start pulling your money out. Slowly being the operative word.