[ShepherdsDog]

BartSimpson BartSimpson:

Jonny_C Jonny_C:

Buy gold with your savings, not paper gold but real gold.

Sound advice save for that gold is out of reach for a lot of people. Silver, however, is reasonably affordable and it would not be either imprudent or risky to suggest that every household have at least 10 ounces of silver on hand against a rainy day. Just in case the currencies go all to hell an ounce of silver should translate into enough groceries for a family of four to eat for a day or two.

I've got pounds of the stuff in the form of cutlery,trays and serving sets from my great grandmother

[Canadian_Mind]

Jonny_C Jonny_C:

BartSimpson BartSimpson:

Jonny_C Jonny_C:

Buy gold with your savings, not paper gold but real gold.

Sound advice save for that gold is out of reach for a lot of people. Silver, however, is reasonably affordable...

Silver works too.

As far as gold is concerned, I was thinking that if bank accounts below $100,000 are being raided, there could be people with, say, as little as $10- to $20,000 who could have some of that in gold instead.

What about when the banks raid your gold deposits?

[BartSimpson]

Canadian_Mind Canadian_Mind:

What about when the banks raid your gold deposits?

Then that's when the right to keep and bear arms comes in handy.

[martin14]

BartSimpson BartSimpson:

Canadian_Mind Canadian_Mind:

What about when the banks raid your gold deposits?

Then that's when the right to keep and bear arms comes in handy.

I knew that was coming.

[BartSimpson]

martin14 martin14:

BartSimpson BartSimpson:

Canadian_Mind Canadian_Mind:

What about when the banks raid your gold deposits?

Then that's when the right to keep and bear arms comes in handy.

I knew that was coming.

[Jonny_C]

Canadian_Mind Canadian_Mind:

What about when the banks raid your gold deposits?

You don't leave your gold with them. You bury it in a sealed piece of PVC pipe, and you buy yourself a metal detector if you eventually can't remember quite where you put it.

[Wada]

Only a dumbass would be shocked by this story.

[Canadian_Mind]

martin14 martin14:

BartSimpson BartSimpson:

Canadian_Mind Canadian_Mind:

What about when the banks raid your gold deposits?

Then that's when the right to keep and bear arms comes in handy.

I knew that was coming.

So did I.

Makes me wonder what would happen here if someone tried pulling this.

[BartSimpson]

Canadian_Mind Canadian_Mind:

Makes me wonder what would happen here if someone tried pulling this.

In the USA it would be a very, VERY bad idea with the current political climate. There's too many people looking for a reason to start shooting and it'd only be a total idiot who'd give them a legitimate reason to do so.

Seizing bank accounts with so-called 'wealth taxes' or sending out police (of some sort) to seize privately held gold and silver would absolutely provoke a civil war were it done today. And a fair number of state and local governments could be counted on to formally resist this kind of thing.

But in Canada? Hate to say, if your courts went along with it then I really don't see why it couldn't happen. Frankly, most Canadians would blithely go along with the bank seizures and orders to turn in their gold and silver and the paradoxical aspect of this is that the nature of most Canadians makes it more likely that it will happen.

See, if the political class knows they can get away with something then they're more likely to give it a go.

[Brenda]

The Cypriotic government voted against. The EU would only help with 10 billion Euro's if Cyprus came with 6. Cyprus does not want it this way.
Dijsselbloem, you have work to do. Come up with a good plan.

[martin14]

Brenda Brenda:

The Cypriotic government voted against. The EU would only help with 10 billion Euro's if Cyprus came with 6. Cyprus does not want it this way.
Dijsselbloem, you have work to do. Come up with a good plan.

Like what, just roll over and throw another 16 billion out the window ?

No thanks.



No one is happy about the haircut, what outraged me was the Cypriot attack on deposits under 100k.
That's not funny, and defeating the bill right there was a good thing to do,
but for different reasons.


And then to go cap in hand to the Russians, ya that's a really smart idea.


I've heard the two biggest banks in Cyprus are already bankrupt, as soon as they open
their doors, then can close them back up.

Paying out the deposit insurance will basically bankrupt the Cypriot government
right then and there.


Watch for a deal involving a haircut, a presale to Gazprom for the gas fields, and then a raid on the pension fund.
Maybe the bondholders who are scheduled to be paid in full in June should take a whack as well, that's should have been done in the first place.
Banks closed til Tuesday next week.



I'll bet this caught the attention of the 3 stooges though.

no progress Spain
no reform Greece
and no brains Beppe

[Brenda]

Well, to be fair, it was not a Cypriotic attack at the first 100k, it was an EU attack.

[ShepherdsDog]

“The problem with socialism is that you eventually run out of other people's money."

[martin14]

Brenda Brenda:

Well, to be fair, it was not a Cypriotic attack at the first 100k, it was an EU attack.

ummm, no.

The Eurogroup decided to go after deposits, which needs a reminder a lot of that money
is not from EU citizens.

Cyprus decided to limit the tax on deposits >100k to 9.9%.
Then they worked backwards, to generate the 6.75% number for deposits <100k.


This last minute reprieve of the first 20k not being taxed, while voted no
anyway, would still leave Cyprus short on the 5.8 billion they need.


Article I quoted back on page 4 covered that.

[Brenda]

It's funny how my Dutch paper says something else

Anyway, it is voted down. They have to figure something else out.