The EU & Cypriot Bank Theft

[John Marwood]

The worry is this could spread and as the crisis of 2008/9 shows all countries/banks are in hock to each other.
As for what's the worse that could happen, just make sure you have big enough wheel barrow to hand!

Japan is next ....


Then Italy

Then UK

Then France


Queue jumping quite likely...

It may be getting close to asking your employer if you can be paid in cash - preferably a mix of currencies

 

[John Marwood]

http://www.bbc.co.uk/news/uk-21820237

So, if I am an ordinary Cypriot and I have less than 100,000 Eur in my bank I wake up on Tuesday morning to find that 6.75% of it has been taken away to pay for the EU bail out. If I have more than 100,000 Eur I find 9.9% of it has been stolen

How is this any different from walking into the bank wearing a balaclava, waving around a shot gun and demanding that the cashier empty the safe?

The European Union has offically gone mad. Let the European Bank runs commence.....

Could be as high as 60 per cent 'tax' ( theft ) on deposits above 100k now

One in forty Cyprus residents is a Russian millionaire

Much like Acton Trussell

 

[Franklin_Delano_Roosevelt]

Could be as high as 60 per cent 'tax' ( theft ) on deposits above 100k now

One in forty Cyprus residents is a Russian millionaire

Much like Acton Trussell

Yep, looks like 60%. When Gideon has run out of all other tax and spending cut options then this plan may be making its way to a bank near you.

 

[John Marwood]

Yep, looks like 60%. When Gideon has run out of all other tax and spending cut options then this plan may be making its way to a bank near you.

The Mongols have discovered 1,000 tonnes of gold buried in their lands - along with a lot of other minerals

Buying gold is not a safe alternative to cash/banks/shares/property/banjos

 

[John Marwood]

 

[Gramaisc]

The Mongols have discovered 1,000 tonnes of gold buried in their lands - along with a lot of other minerals

Buying gold is not a safe alternative to cash/banks/shares/property/banjos

From Our Own Correspondent - http://www.bbc.co.uk/programmes/p015y2jv - a few days ago.

 

[John Marwood]

Although having said that if you have a collection of vintage Gibsons this maybe best bet ( banjos )