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Title: Cyprus - Collecting the spoils from the "War on Savers" Post by: bitchatter on March 25, 2013, 01:17:58 PM After watching this video, I can't help but think this will lead more people to look for alternatives to saving in banks
http://www.telegraph.co.uk/finance/personalfinance/savings/9937330/Cyprus-impact-how-safe-are-UK-savings.html This is theft. If you are a retiree on a fixed income, how do you plan your expenses with the potential theft of anywhere from 7 - 40% of savings it's taken you a lifetime to accumulate looming in the background? If Cyprus can't pay it's bills now, how does a new loan help? Does Cyprus have a hidden tech industry that will explode and grow it out of it's debt problem? What happens with all the Greek debt the Cypriot banks hold if there are more problems in Greece, or Spain, or Italy, etc., etc? Bitcoin, Litecoin, and it's like are starting to look a lot less risky. |