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Cyprus bailout = money shift to tangible assets (gold, silver, etc...)
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<p>[QUOTE="medoraman, post: 1685999, member: 26302"]Why not have the banks act appropriately and make such costs come from their profits, not taxpayers or depositors. I sure as heck PAY a lot more interest to a bank than I ever receive. Part of this money should be to cover losses, and such losses should not be the responsibility of either taxpayers or depositors. </p><p><br /></p><p>I am not one to "blame the bankers" for the world's ills, but they ARE responsible to ensure they make enough profits to cover these things. The unique situation in Cyprus was that the Russians, (and their mafia), was using Cypriot banks as tax havens. The government allowed this since it was generating taxes, but it blew up on them. For only this reason I am not quite as upset about it happening to Cyprus large depositors than almost anywhere else. I guess I would say similar about deposits in the Cayman Islands or other havens. If the same thing happened in Germany, France, UK, Canada, or other countries I would much more upset.[/QUOTE]</p><p><br /></p>
[QUOTE="medoraman, post: 1685999, member: 26302"]Why not have the banks act appropriately and make such costs come from their profits, not taxpayers or depositors. I sure as heck PAY a lot more interest to a bank than I ever receive. Part of this money should be to cover losses, and such losses should not be the responsibility of either taxpayers or depositors. I am not one to "blame the bankers" for the world's ills, but they ARE responsible to ensure they make enough profits to cover these things. The unique situation in Cyprus was that the Russians, (and their mafia), was using Cypriot banks as tax havens. The government allowed this since it was generating taxes, but it blew up on them. For only this reason I am not quite as upset about it happening to Cyprus large depositors than almost anywhere else. I guess I would say similar about deposits in the Cayman Islands or other havens. If the same thing happened in Germany, France, UK, Canada, or other countries I would much more upset.[/QUOTE]
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