Cypress seizing % of bank deposits
I just read that Cypress has agreed to seize roughly 6 to 12% of bank deposits to avoid banking collapse, all with the approval of the EU. Refusal to pay will result in jail and/or hefty fines. Very scary.
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watch and learn America (hopefully)!!!!
btk |
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Why do Americans think our "friendly" creditors like China would never be so cold and greedy as to do the same thing to us?????
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We keep spending and running up that debt to China and where exactly does everyone think that scenario might go ??? |
Not to worry.... China wants us healthy, since we buy lots of their stuff. They're not about to kill the golden goose....
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By keeping the interest rates artificially low the last 4 or so years the Fed has been doing the same to anyone that puts $$ in a "savings" account" instead of earning 3 or 4% on a savings account you now earn .5% thereby losing 3 or so % a year compounded so how is that different? It's actually worse.
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Disagree, respectfully. At least with a savings account, you have made the choice to accept a lousy interest rate, versus a seizure of assets where you have no choice.
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I can envision a massive withdrawal movement from Cypress banks.
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