Monday, March 18, 2013

Cyprus Bailout


More crazy stories from the EU: Governments confiscating personal savings to pay for incompetence and mismanagement.  And you thought you had a right to private property? Seems unbelievable, thought when you think about it our artificially low interest rates in Canada could also be construed as a tax on personal savings… 

In any case I think there are a few morals to this story.  One is that you can and will pay for your government’s incompetence even if you didn’t vote for them!  In Ontario that is a scary state of affairs…  Another moral may be that nothing is guaranteed in life.  This situation was described by Solomon in Ecclesiastes 2:18, 19 “I hated all the things I had toiled for under the sun, because I must leave them to the one who comes after me.  And who knows whether that person will be wise or foolish? Yet they will have control over all the fruit of my toil into which I have poured my effort and skill under the sun.  Many people likely spent years in Cyprus working to make it a better place, only to see a generation of mismanagement dismantle much of what they had worked toward.

Ultimately as a Christian what I take from this is summarized by 1 John 2:17 “The world and its desires pass away, but whoever does the will of God lives forever”.  This world is destined for destruction, is what we are investing in going to last?  Whether global economic collapse takes our savings, or our life is cut short and we meet our maker sooner than we expected (Luke 12:13-21!); is what we are investing in now going to matter in 10,000 years? 

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