Read an excerpt from one of my secret source here:
“It’s no secret that America’s DEBT situation is bad and getting worse, 2008 crisis only staved off by people continuing to accept the government’s funny-money. The UK is in an even worse state, despite their government doing their best to undo the damage. It’s a global debt black hole that isn’t going away.
Absolutely- it’s a vote WINNER and it would solve a lot of the government’s problems. Would they actually do it? Your guess is as good as mine, but I know the Cypriots didn’t think that their government would do it…
I know this because I was advising a client before March of this year, and this client banked in Cyprus. Remember this was BEFORE The Cyprus Bailout. I knew Cyprus was in trouble though, so I advised the client that if they must bank in that country to NOT leave any cash or CDs on account. I said this because I felt there was a bank risk, meaning that there was a risk that The Bank of Cyprus could go broke. Not in my wildest nightmares did I think that a government-heist would be the risk…
The client asked what to do with the cash instead. Learning from the Barings Bank/Nick Leeson affair, I explained that if the money was in an INVESTMENT ACCOUNT and used to buy securities such as stocks and Treasury notes, the bank risk would disappear. When a bank goes under, the only people who lose money are those with cash or CDs on account- if you own a stock, you own a stock.
And then The Cyprus Bailout went down, and people with money on account lost half of it to pay for the government’s overspending. But my client’s money was safe (and so was my contract with them forevermore as a result!).
There’s a lot of scaremongering going around about The Cyprus Bailout. Yes, it could happen in your country, so do not rule it out. But what many commentators on this outrage don’t understand is that it would ‘only’ be people with cash on account who would lose their shirt. When thieves (aka politicians) rob a bank they primarily go for the cash.
Bottom line: cash is not safe. Get your money INVESTED in paper assets, real estate, and precious metals (the ultimate insurance).”