Cyprus fallout

Bank savings are no longer sacred.

Savings are no longer sacred, they can be stolen by banker or bureaucrat.

Savings are no longer sacred, they can be stolen by banker or bureaucrat.

I play chess, often that knowing experience arises when I see my doom, wherever I move I am checkmated.  It is my opinion that in the endgame Cyprus faced a similar chess ending, they were going to lose whatever they did. Nobody will now invest in Cyprus, all the savers will run taking what is left of their savings with them.  The banking industry of Cyprus will collapse, the Russians will flee taking all their trade and money with them.  A main source of employment will evaporate for Cyprus citizens as the Russians flee on the back of loss of credit and their savings.

For me a citizen of Britain, a spectator of events in Cyprus, a person who looks to banks for his personal and business banking needs, a dread of what has just unfolded.  Ordinary citizens of Cyprus had worked hard to save, their earnings already taxed, what for some was their life savings, a third or more has been stolen from them on the whim of politician and banker.  The reported unfortunate business who was half way through a transaction, the proceeds of the selling of a restaurant will be grabbed before they could move to use those proceeds for investing in their business. From a business and a personal point of view I am aware that money may no longer be safe in banks.

I am a humble ordinary face in the crowd, but even I must ask if the well paid well qualified expert known as Jeroen Dijsselbloem the Eurogroup head is that stupid to make a public statement that what happened to Cyprus savers is a template for the rest of the Eurozone.  Dare I suggest that even a moron can see that if everyone thinks their savings are unsafe in a bank they will clear out the bank and run for the hills?

I am amongst millions now reviewing what my options are going to be to keep my personal and business financial resources out of the clutches of greedy bankers and idiotic bureaucrats.

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29 responses to “Cyprus fallout

  1. It is hard for me to believe someone could be that stupid. I’m starting to suspect they’re doing this on purpose, though the purpose defeats me…

  2. Reblogged this on artslogic and commented:
    as expected, dollar is up, meaning toilet paper, while gold is down, real metal, the conclusion is the idiots of the investment world have bought the issue, therefore black Friday is coming and the global impoverishment is nothing more than weeks away. enslavement as we know is what is what IMF wants, as most are blinded by fake numbers of wall-street, so beware, BRIC nations of the wall-street, propaganda. and Europeans HOPE NOW you understand the euro disaster, and ill advice policies combined by a BCE, which in fact is nothing more than a “””CIA-Goldman sacks office””” like some presidents of the euro-group.

  3. looks like it’s time to invest in gold and bury it in our gardens. Or just stuff all the paper money in our mattresses.

  4. I don’t think that this is part of a world wide banking conspiracy led by Goldman Sachs to cause the second Great Depression in order to reduce the number and strength of their competitors and gain greater control over global treasuries than they already have.

    I don’t believe in conspiracy theories.

    I think that it was just a series of poor decisions; Cyprus was weakened by lending to Greece. They both should have files for bankruptcy and left the Euro. Spain, Portugal, Eire and Italy should all do the same.

  5. dominoes will continue to fall, branch and pick up speed..timing may be the most important thing here.

  6. That old law of the power of unintended consequences still alive and well!

  7. I imagine that the best investment of the moment is a safe…

    AV

  8. Pingback: Cyprus fallout | Shit Happens

  9. Reblogged on Shit Happens as well

    AV

  10. Those living in the US were just starting to save after years of over spending. Now the effects of what has happened in Cyrus are making everyone here more than a little nervous. I think the banking system is going to take a big hit as a result of a really dumb act.

  11. To some this is not just a game of chess… I call it a game of dominoes.. the game where we line them all up and push one down….. the rest will soon follow… You only need to look at who is doing the ‘Pushing’ and then the game becomes a game of cards… We all need to look at the ‘Game-Planners’ This game has long been in the planning! Alex… and we all know who the winners will be…
    Great post! ~Sue

  12. So how are you ring fencing your assets?I’d love some good ideas.

    • At this moment all my money is being invested in my business, but then I will start through my business investing in property and other businesses. All assets in theory should be making a financial return. As to cash reserves, I encourage in Europe to spread cash across many banks, whilst keeping the money on deposit below £85,000 which the deposit guarantee scheme protects.

      • Did the news reportage in your part of the world mention a figure for deposit guarantee in Cypress?
        My fear is for the deposits I must maintain for the upkeep and maintenance of assets and for working capital.The mattress seems to be the safest place to keep money today but its impractical in the face of crime and 11%inflation.

      • The Euro zone figure of 100,000 Euros remains intact in Cyprus but originally they had planned to grab a part of the savings of even the smallest of savers.

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