Lxxx Posted March 25, 2013 Share Posted March 25, 2013 And as the head of the eurozone finance ministers suggests, the "Cyprus model, which involves a tax on bank deposits, could form a template in any future bailout". http://www.bbc.co.uk...siness-21920574 This sends out an obvious message that when you put your dosh in any bank you're no longer a depositor, but an investor, with all the risks it incurs. Anyone,(who actually has savings anymore), would be better off buying gold....or better still land! It's been obvious for a while, but increasingly so now, that anyone with any sense and a large amount of currency to their name should be buying up physical assets and only keeping enough cash sat in a bank that they are prepared to lose. Investors shouldn't be looking for what offers them the biggest return on their capital at the moment but how they can at best keep hold of what they have or at worth how little can they lose through the escalating current crisis. Thankfully I don't have to worry about such trivialities! Link to comment Share on other sites More sharing options...
Lxxx Posted March 25, 2013 Share Posted March 25, 2013 Anyone,(who actually has savings anymore), would be better off buying gold....or better still land! Anyone looking at buying the yellow relic needs to take physical delivery though as ABN AMRO have just informed it's customers (that it stores gold on their behalf of) that they won't be able to take delivery of their own bought and paid for asset any more......although they will offer them lovely, rapidly devaluing fiat currency in exchange though. Anyone see a pattern emerging..... http://www.zerohedge...l-gold-delivery Link to comment Share on other sites More sharing options...
localyokel Posted March 25, 2013 Share Posted March 25, 2013 I don't predict that the Russians will take this well, and you never fuck with the Russians. A guy on newsnight tonight suggested German businesses in Russia might suddenly start having problems with the tax man and have to shut up shop. I wouldn't rule out a few banks being bombed and a few banking figures experiencing, err, random accidents. Today is only the start and I honestly can't believe the Germans can be so stupid as to let this run. Link to comment Share on other sites More sharing options...
Albert Tatlock Posted March 26, 2013 Share Posted March 26, 2013 I honestly can't believe the Germans can be so stupid as to let this run. That's what Neville Chamberlain said. Link to comment Share on other sites More sharing options...
Lxxx Posted March 26, 2013 Share Posted March 26, 2013 I don't predict that the Russians will take this well, and you never fuck with the Russians. A guy on newsnight tonight suggested German businesses in Russia might suddenly start having problems with the tax man and have to shut up shop. I wouldn't rule out a few banks being bombed and a few banking figures experiencing, err, random accidents. Today is only the start and I honestly can't believe the Germans can be so stupid as to let this run. I think they knew exactly what they were doing. Diverting attention away from the collapsing economic system. History shows when shit hits the fan we have trade wars then currency wars followed by real wars. Nothing resets a failed system (and this one is dead as debt levels are too high to ever be repaid) like a good ol shoot em up. We'll see a game of cat and mouse in Europe, the Iran situation escalate as well as probably the Koreas/China area hot up. May take a while reach to that stage but don't expect it to just blow over anytime soon. In the meantime it'll increase employment in Cyprus as the politicians will need to hire people to start their cars for them in the mornings. Link to comment Share on other sites More sharing options...
Nom de plume Posted March 26, 2013 Share Posted March 26, 2013 My next investment will be land ... Link to comment Share on other sites More sharing options...
Cambon Posted March 26, 2013 Share Posted March 26, 2013 But is land a good investment in this situation? You cannot pick it up and take it with you if you have to flee. Link to comment Share on other sites More sharing options...
Nom de plume Posted March 26, 2013 Share Posted March 26, 2013 But is land a good investment in this situation? You cannot pick it up and take it with you if you have to flee. I believe land is a solid investment ... Link to comment Share on other sites More sharing options...
Cambon Posted March 26, 2013 Share Posted March 26, 2013 http://uk.finance.yahoo.com/news/china-brazil-sign-trade-currency-132240289.html Another nail in the coffins of the us dollar and the euro. Link to comment Share on other sites More sharing options...
Lxxx Posted March 26, 2013 Share Posted March 26, 2013 Interesting article and interview from someone who lived through the Argentina economic crisis, which shares many similarities with how Cyprus is unfolding..... http://bullmarketthinking.com/argentina-cyprus-collapses-gold-silver-protects-you-from-these-events-youll-have-leverage-and-resources/ Link to comment Share on other sites More sharing options...
Lxxx Posted March 26, 2013 Share Posted March 26, 2013 Another take on the Cyprus issue from Zerohedge website..... Is This The Diabolical "Master Plan" Behind Crushing Europe's Depositors Last week, when we commented on the absolutely idiotic Eurogroup proposal (now voted down and replaced by an equally idiotic "bank resolution" proposal which will see uninsured deposits virtually wiped out) to tax uninsured and insured deposits, we jokingly suggested that this may be merely the latest ploy by the legacy status quo to achieve one simple thing: force depositors across the continent (and soon, world) to pull their money out of a malevolent, hostile banking system and push that money into stocks, or simply to spend it. This would help finally defeat the biggest bogeyman of the centrally-planned reflation attempt in the past 4 years - the absolutely dismal velocity of money which drops every time the G-7 central planners inject liquidity into stocks. We were joking, because it would be beyond conspiratorial to suggest that a central bank could go as far as wiping out the wealth and savings of an entire nation in order to promote broken monetary policy. It would be outright idiotic and not to mention criminal. Why purposefully endanger depositors, and thus an entire financial system, just to spook them and their money? Or so we thought until we read the following just as "conspiratorial" take from Deutsche Bank's Jim Reid: Maybe the lesson from all of this is that if you are fortunate enough to have a fair degree of money you might be better off spending it! Maybe that’s the master plan here? Boosting activity by forcing people to use their money rather than deposit it! Indeed I wonder how long it’ll be before an equity strategist suggests that this is bullish as money might now leave deposit accounts and go into equities! Sarcastic humor or sad, insolvent reality... You decide. Link to comment Share on other sites More sharing options...
hboy Posted March 26, 2013 Author Share Posted March 26, 2013 There are few safe havens left and even the gold price is dipping. Outside of property shotguns and tinned food are good bets. Link to comment Share on other sites More sharing options...
Lxxx Posted March 26, 2013 Share Posted March 26, 2013 There are few safe havens left and even the gold price is dipping. Outside of property shotguns and tinned food are good bets. It's good the gold price is dipping, means it's at a discount. Link to comment Share on other sites More sharing options...
manxy Posted March 27, 2013 Share Posted March 27, 2013 I believe land is a solid investment ... You sound very much like an estate agent who's got land to sell? You are a Director of Crystals and good buddies of Heritage/ Dandara and I claim my £5 Link to comment Share on other sites More sharing options...
Albert Tatlock Posted March 28, 2013 Share Posted March 28, 2013 Banks opening later today. Tick, tock... Link to comment Share on other sites More sharing options...
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