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Cyprus bailout = money shift to tangible assets (gold, silver, etc...)
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<p>[QUOTE="-jeffB, post: 1666595, member: 27832"]Yeah, I haven't had time today to look into this story, just what I heard on NPR on the drive to work. So, to protect the banks, they decide to confiscate a chunk of everybody's savings, at a <i>higher</i> rate for <i>smaller</i> depositors? What did they <i>think</i> people were going to do, besides run on the banks and riot in the streets?</p><p><br /></p><p>I hear something about "money laundering by rich Russians", which would of course explain why they're penalizing large accounts <i>less</i>. And I'm sure the 400-euro ATM limit will be all they need to stem the run, because certainly the people wiring eight-figure sums back and forth wouldn't be a significant portion of the outflow. <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie11" alt=":rolleyes:" unselectable="on" unselectable="on" />[/QUOTE]</p><p><br /></p>
[QUOTE="-jeffB, post: 1666595, member: 27832"]Yeah, I haven't had time today to look into this story, just what I heard on NPR on the drive to work. So, to protect the banks, they decide to confiscate a chunk of everybody's savings, at a [I]higher[/I] rate for [I]smaller[/I] depositors? What did they [I]think[/I] people were going to do, besides run on the banks and riot in the streets? I hear something about "money laundering by rich Russians", which would of course explain why they're penalizing large accounts [I]less[/I]. And I'm sure the 400-euro ATM limit will be all they need to stem the run, because certainly the people wiring eight-figure sums back and forth wouldn't be a significant portion of the outflow. :rolleyes:[/QUOTE]
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