The recent news that the international banking system was going to claw back “its” money from individual Cypriot bank accounts was astounding.

Now look at the amount of billionaires we currently have who have almost trebled in just a few years, continuous wars helping to swell the coffers.

In 2001 there were 490 dollar billionaires worldwide, worth $1.5 trillion, today there are 1,426 worth $5.4 trillion!

A billion is a lot of dosh but how much is a trillion?

If I gave you £1m a day, it would take 2,740 years to get to a trillion. And don’t forget the recession we are all experiencing together, apparently.

So if anyone is in any doubt where the money is going, look no further than the elite who are screwing the Cypriots through robbing their bank accounts, or the Spanish, Greeks, Irish or indeed us, through a thing called austerity.

Most wealth is in the hands of a tiny minority and that wealth is increasing, unlike our wages, pensions or benefits.

Don’t these desperate times call for radical policy?

How about starting with 100 per cent tax after your first billion? Now that’s radical. I believe the economic crisis should be tackled globally, not just in these islands or in Europe.

See the Forbes Magazine for reference.

TIM W SIRET, Millmoor Crescent, Eynsham