Posted on 07/03/2015 4:58:13 PM PDT by dynachrome
Aside from Switzerland, where would you suggest?
If you think that a bank has the right to your deposits in order to square their books, then all banks everywhere go away.
The problem is that they lie right up until the time they can’t, because the penalty for lying is so much less than the penalty for telling the truth and watching the bank go down the tube in an hour.
France, Spain, and Italy are just over the brink. This is why the Germans couldn’t do anything for the Greeks. This isn’t the last bank holiday Europe is going to have.
And we’re not in any better shape. Puerto Rico’s out there, as are a whole bunch of cities who can’t make good on even their revenue bonds any more.
So, if the bank is going to lie, and worse, if the government TELLS the bank to lie (2008), and this ‘bail-in’ happens in Europe, then it won’t be long before the smart ones read the writing and start shifting deposits over to something more convertible and real (diamonds, copper, silver - but not gold - the US wrecked the market in gold by allowing more paper to be written on gold than was actually on deposit).
The 1 percent are talking to their money managers as we speak. Somehow - most bank deposits, wherever they are, will be declared ill-gotten - if for no other reason than they tried to move it out.
It will destroy WORLD banking. Not just Greek banking.
“Why should we believe you?” will be the question on everyone’s lips in every press gaggle in the country involving banks.
“Nothing to hide? Open the books - today.” This will be what every large investor says to their private banker.
The bail-in will trigger all of it. The snow will come down the hill.
Use cash to pay off any debts. You improve your overall financial security, and your regularly monthly expenses go down.
And no bank is going to be mad and unlikely to prevent savings moved over to pay off a credit card.
UNaccountable bureaucrats (international socialists) plundering the conservative, productive in a socialist-ruined country.
Remove the shackles Greece. Socialism Is Legal Plunder - Bastiat
What about your savings?
> call for a “haircut” of at least 30 per cent on deposits above €8,000
Hey, the working class needs to pay its fair share to the non-working class.
Mannnn,
I would be looking for some bankers and gubmint types to go run over.
Singapore is an excellent choice, as is Hong Kong...but always be wary of the Chicoms and be ready to split at a moment's notice.
The problem with generalised answers is that each person's situation going in is different. You might look up more info at the Sovereign Society.
Best wishes and FReegards!
Nice rundown, I appreciate it. Also noted Austria made the list (surprised) but Luxembourg & Liechtenstein didn’t (more surprised). I don’t know much about the subject though and at this point I’m sold on holding physical gold (no larger than .25 ounce coins) or junk silver. The idea is hiding assets from means testing and also avoiding estate taxes.
They already took 10% a year or so ago.
I know, I know hearsay, but I’ve heard someone on the radio say that the reason politicians aren’t too concerned about the debt is because American’s 401Ks can cover it.
As noted, each person has different goals, which is the main reason why the question is very difficult to answer in the general case.
“haircut”?? Liberals trying to quell the masses. They ain’t stupid. They know this is theft.
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