PGD/// what about Syria, North Korea, Egypt, Palestine, Iran..:jimlad:The banks are due to open tomorrow. They've been closed since the 15th and nobody has been able to get to their money. Food shortages are looming while those with cash are buying up the foodstuffs in the markets. Supermarkets are not accepting credit cards, but are demanding cash...which of course means that many Cypriots cannot purchase food.
Meanwhile, while the banks are closed, the gov't and the EU are talking about levying some pretty hefty taxes on the deposits. What that means is that the citizens will be coughing up a large portion of the bailouts so that the mismanaged bank(s) can remain solvent.
I also read somewhere that Spain is "eyeing" this model as a viable option for their problems as well. There was a big fear that once they open, there will be a run on the banks, but capital controls imposed means that people can't take their money and move it out of the country and they'll have limited access to their funds.
This could get ugly...very fast.
Just heard deposit confiscation was proposed and discussed at the last g-20 meeting. Jim Rogers and Marc Faber are saying pull your money now! Jim Sinclair says the same thing, and urges buying gold w the funds.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?