Posted on 07/14/2015 9:04:18 AM PDT by grumpygresh
Capital controls have been in place in Greece since the start of the month to protect the banks from mass withdrawals by nervous Greeks. They have rightly been concerned about their savings, the collapse of the banking system and the loss of their savings in deposit confiscations or bail-ins.
(Excerpt) Read more at etfdailynews.com ...
If you store X with the bank, kiss it goodbye.
True for any value of X.
I agree. But if I were you I’d seriously be thinking about somewhere else to get accurate and informed news about ETFs, etc.
What kind of technical entity that purports to discuss and disseminate financial news would allow the words “safety deposit box” to escape from their editorial control?
Why people would keep gold in banks is beyond me.
Banks are agents/members of the Federal Reserve, which is part of the progressive/nanny state. Banks may as well be part of the government.
Wholeheartedly agree. Any entity under control of the Federal Government is just the same as Obama.
The contents of those boxes are not on the bank’s financial statements — makes no sense to involve them in any equations pertaining to the bank’s liquidity.
We can’t put those things in our safety deposit boxes anymore.
Do they have non-bank security companies in Greece, that only have boxes? I would think that such establishments would not be closed.
That's true - which of course is an indication that this isn't about liquidity, but rather that it's a set-up for eventual theft.
That gold is ready to be confiscated by the State whenever they need it.
Home Savings Bank: Money in the mattress and a .45 under the pillow.
People put valuables in safe deposit boxes. That’s why government wants to get its dirty hands on them.
The Greek banks have had two weeks to raid safety deposit boxes.
I'd tap that.
Makes me want to get some lead ingots, spray paint them gold (Paint the word STAGE PROP on the bottom of them) and put them in a safe deposit box with a note for the feds that is just a picture of my hand flipping them the bird with the words “F**** You FEDERAL GOVERNMENT”
But the feds would probably arrest me for “making fake gold ingots” or some such crap....
I’m dyeing to tap that
Very true. But when libtards are in control, tell me anything that makes sense.
I’d tap that fully clothed.
The logical result of the Socialist Welfare State. When the state can’t tax or borrow to keep the spending and patronage going, it starts stealing from the productive suckers who thought they could keep their savings in the bank.
That’s true - which of course is an indication that this isn’t about liquidity, but rather that it’s a set-up for eventual theft.
But then, I’m speaking of the US. Greece is a different matter.
In Sweden, cash transactions account for only 3% of all transactions; in US I think it’s around 10%. I would think that these capital controls would be a big wake up call for Greeks and should be for the US sheeple. I would expect that the Greeks will be dealing in cash, barter and PMs wherever possible now more than ever.
People need to get their money out of banks (and SD boxes) except for business transactions, high ticket items, mortgage payments and only keep just enough to cover these expenses.
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