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The other option is taking more than 7%. The suggestion was a 40% currency devaluation. Although no one really knows what would happen in detail.

What would the two sides be? One side is presumably every citizen, but that leaves no citizens on the other side. Sounds more like a revolution.

There are plenty of Americans who have essentially zero savings.

Account holders vs those who took (or facilitated the taking of) the money.

So that is they prefer to instead skim a little bit off the top slowly through inflation. In the end it doesn't matter, but it just prevents people from revolting.

A civil war over 7%?

http://www.google.com/finance?chdnp=0&chdd=1&chds=1&...