This is fresh out of the oven! Care for a slice?
Posted on 03/17/2013 3:32:46 PM PDT by Red in Blue PA
(Reuters) - Europeans' faith in the safety of their savings has been shaken by a levy on Cypriot bank deposits to pay for a bailout, even though there was no sign of a rush to withdraw cash in Madrid or Dublin.
People told Reuters they were angered but unsurprised that politicians should dip into citizens' deposits. And as bankers expressed concern the proposed terms of Cyprus's bailout could unnerve savers elsewhere, some leftist leaders voiced outrage.
Euro zone finance ministers want Cypriots to pay up to 9.9 percent of their deposits in return for a 10 billion euro ($13 billion) aid package. If approved by the island's parliament on Monday, it will be the first time savers have had to foot part of the bill for a European bailout.
(Excerpt) Read more at reuters.com ...
“...The only way to not lose is not to play....”
Most likely, the “post of the day”.
Doncha just love communism? The only good ones are the ones that ain’t breathing air anymore.
“...Anyone also thinking it’s a good idea to “mattress” half of your cash for now?...”
We pulled quite a bit out first thing this morning when the bank opened and put in the safe. Bank teller had no clue. She mentioned that she was surprised so many folks were making withdrawals this morning....LOL
But really, IF I had to, I’d bury it in mason jars out back before I would let them steal it. I’d use it to light fires with before I’d let them have it. To hell with them.
Silver is much more, I guess liquid would be a term.
Your pessimism is disturbing...
BTTT!
The reason I don’t quite trust gold is I bought some way back when It was just 400$. It stayed at that price for years. Then it shot up to 1600$ where it is today. That is 4 times it’s price but the rest of items I typically buy are only twice what they use to be. It seems like panicked buying pushed it up as the bad times came. I’m still expecting hyperinflation eventually but the continuing recession keeps the flow of dollars small so the market can’t get the signal how worthless the dollar has become yet.
It just occurred to me that this could be part of the looters plan. You need two things for inflation: 1) too many bills, and 2)people spending them . If people hold onto the bills the worthlessness of those dollars is not sensed by the market. Cause a run on dollars from the banks,which causes people to hide the cash, so inflation is only felt slowly, therefore looters are free to inflate to their hearts desire! (Were they clever enough to plan this or am I just giving them ideas?)
The guy is fairly naive, seems to know little about the country and next to nothing about practical things like energy technologies e.g. solar and batteries. Also seems to be a bit academic about guns.
I noticed that as well. The part I liked was he had actually gone through really bad times so his advice was based on experience.
This is fresh out of the oven! Care for a slice?
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