In Cyprus, they were truthful!

The Cyprus government said "You trusted us and put your money in our banks. But we need it, so we are taking it." Despicable. But truthful.

In America, they said "Put your money in American banks and it is guaranteed safe - via FDIC! Truthful?

Then the Federal Reserve prints billions upon billions more paper dollars. Throwing all that paper money into circulation waters down the value of every dollar - old and new. So, while you are assured the return of every dollar you banked, each of those dollars is now worth a little less.

In Cyprus the rule is straightforward. Bank a dollar. Get only 60¢ back. Or, whatever.

In America, bank a dollar and get a dollar back, however it is now worth only 80¢. Or, whatever.