Is the EU coming for €10T in private savings accounts? When politicians start calling your hard-earned bank deposits "lazy savings," your spider-sense should be tingling. To be totally fair: Ursula von der Leyen didn't say the EU is seizing your checking account tomorrow. The official pitch is just a "Savings and Investments Union" to channel private cash into EU industry. However, things can change. Do you remember the US gold confiscation in 1933 under Executive Order 6102? Or when Cyprus took a haircut straight out of bank deposits in 2013? Governments seize wealth whenever they get desperate enough. When they do it fast, it is outright confiscation. When they do it slow, it is financial repression: keeping deposit yields below real inflation, steering pension funds into state debt, and locking in bail-in rules. Whether it is an overnight seizure or a ten-year slow bleed, the outcome is the same. Whatever you want to do with your money is your own damn business. Got Bitcoin?(Lark Davis)