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Breaking news on the BBC television news. 1 million euros are on a plane flying out to Cyprus right now. This is for emergency funds for British personnel in Cyprus, in case people are unable to get access to funds at the bank, or from cash machines.
ROFL..governments are dropping money from the sky for the people now
If you could have predicted it why didn't you? Or are you just trying to make yourself look better by claiming you had foresight you really didn't have?
BTW my prediction is this tax (which hasn't actually happened yet, remember) never actually gets implimented as the German government is forced to change the terms of the bailout. Personally, I'm giving it a 50-50 but leaning towards bankers in the other troubled states make Merkal back down.
A lot of people predicted this collapse and since the very start of the euro. I think anyone can see that this kind of experiment is going to fail.
As I said, I understand the idea of requiring collateral for a loan but the bigger question is whether or not the loan is the answer.
When will we wake up?
One article I read said it was actually Cyprus officials who brought up the bank tax and that they initially wanted to tax small accounts up to 40% because they didn't want the big accounts to pay a double digit tax. That's why the initial big account tax was 9.9%
Then they would still be taxing insured accounts. No matter how they slice this they are hitting ordinary customers. They should just give it up and stop making it appear that it even matters. They are seeking to seize money from the traditional safe keeping place - a savings account. The trust is gone.
Deposit insurance is like a bond it's merely a promise to pay if the insurer is broke the promise wont do you much good. You've been warned.
I was bored watching CSPAN the other night when I couldn't sleep. They had these clowns from JPMorgan testifying about their derivative mess. They assured everyone that they had hired the best risk management folks around and all will be well. I slept fine after that. lol
I managed and planned and retired early in spite of the changes.
But my 401K is MY money that I saved and invested and I'll be damned if Congress attempts to put their grubby hands on that money "in my best interests". So I have my Plan B sitting in the wings and I follow and I read and I wait.
I've been trying, and thought I was safe with my 401K and savings account/CDs but now I'm not so sure. I guess I'm rich.??? just for sacrificing and saving. Like many others, I don't have an alternative plan but don't fancy being a victim. If they want it and it's there they will just take it.
I have an elderly relative who heard about all this and is now nervous about his money in the bank and retirement funds here in the US. I hope he doesn't actually withdraw everything and tell people about it. He's a little paranoid but he remembers the depression. I don't know what to tell him, not that he'd listen anyway.
I've been trying, and thought I was safe with my 401K and savings account/CDs but now I'm not so sure. I guess I'm rich.??? just for sacrificing and saving. Like many others, I don't have an alternative plan but don't fancy being a victim. If they want it and it's there they will just take it.
I have an elderly relative who heard about all this and is now nervous about his money in the bank and retirement funds here in the US. I hope he doesn't actually withdraw everything and tell people about it. He's a little paranoid but he remembers the depression. I don't know what to tell him, not that he'd listen anyway.
In today's America you are punished of you did the right thing, paid your own way, paid your taxes, paid your mortgage, saved for your future. It's not fair you are set and others aren't. Sad times indeed.
Of course you didn't do that the government did it for you I forget that nugget sometimes.
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I guess I'm rich.??? just for sacrificing and saving. Like many others, I don't have an alternative plan but don't fancy being a victim. If they want it and it's there they will just take it.
