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| Topic: E.U. Bailout Tax Sparks Bank Run In Cyprus | |
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Savings accounts? Whats that? 
A Savings Account is a place where you park some money at regular intervals so that you'd have some money to buy what you want or need. I prefer keeping my extra cash somewhere else. It's just not safe in the bank. I purchased something on the television using a debit card from my account and the company kept and shared my debit card number with their "affiliates" and then someone signed me up for some monthly travel club and some other monthly thing and started taking money out of my account. When I called them on it they said they would "cancel my account." I told them they had better refund to me all the money they had taken or else. They did. I asked the bank about this and they said that if someone has your number, they assume they have permission to take the money. Your money is supposed to be SAFE in the bank. Its not!! It can be frozen, or taken out by court order, or taken out if some company has your bank account number or debit card number. You money is not safe in a bank. They make sure you don't hoard too much! I think in some Countries it is even illegal to hoard Cash above a certain amount! Taxes are usually not paid on it! Must be giving the Taxcollector sleepless nights! 
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Looks like in Cyprus it went from Saving-Accounts to Shaving-Accounts,with Government doing the Shaving!
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Deposits below €100,000 are safe, at least in the Cypriot case, thanks to an EU-instigated guarantee. But when pushed last week, eurozone ministers showed they would have been willing to welch on this as well.
The prolonged battle over bailing out Cyprus — a battle which has run for almost a year — also consolidates the idea that the EU’s rescue fund, the ESM, whose €700bn is made up of European taxpayers’ money, will not be used to cushion the fall of failing banks. This was underlined by Dutch finance minister Jeroen Dijsselbloem, who now heads the Eurogroup ministers, when he said the Cypriot deal was the new template for fixing eurozone banking problems, and that other countries may have to restructure their banking sectors as well. |
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Savings accounts? Whats that?
A Savings Account is a place where you park some money at regular intervals so that you'd have some money to buy what you want or need. I prefer keeping my extra cash somewhere else. It's just not safe in the bank. I purchased something on the television using a debit card from my account and the company kept and shared my debit card number with their "affiliates" and then someone signed me up for some monthly travel club and some other monthly thing and started taking money out of my account. When I called them on it they said they would "cancel my account." I told them they had better refund to me all the money they had taken or else. They did. I asked the bank about this and they said that if someone has your number, they assume they have permission to take the money. Your money is supposed to be SAFE in the bank. Its not!! It can be frozen, or taken out by court order, or taken out if some company has your bank account number or debit card number. You money is not safe in a bank. They make sure you don't hoard too much! I think in some Countries it is even illegal to hoard Cash above a certain amount! Taxes are usually not paid on it! Must be giving the Taxcollector sleepless nights!
The drug dealers hoard billions and billions. They can't put it in the bank because it is from ill gotten contraband. Eventually, all money will be digital. All you will have is a credit rating. |
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Edited by
Jeanniebean
on
Tue 03/26/13 03:00 PM
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Deposits below €100,000 are safe, at least in the Cypriot case, thanks to an EU-instigated guarantee. But when pushed last week, eurozone ministers showed they would have been willing to welch on this as well. The prolonged battle over bailing out Cyprus — a battle which has run for almost a year — also consolidates the idea that the EU’s rescue fund, the ESM, whose €700bn is made up of European taxpayers’ money, will not be used to cushion the fall of failing banks. This was underlined by Dutch finance minister Jeroen Dijsselbloem, who now heads the Eurogroup ministers, when he said the Cypriot deal was the new template for fixing eurozone banking problems, and that other countries may have to restructure their banking sectors as well. I don't know if this has anything to do with Cyprus. Dutch Mega Bank ABN To Halt Physical Gold Delivery.
Based on a letter to clients over the weekend, it appears Dutch megabank ABN Amro is changing its precious metals custodian rules and "will no longer allow physical delivery." Have no fear, they reassuringly add, your account will be settled at the bid or offer price in the 'market' and "you need to do nothing" as "we have your investments in precious metals." So basically, a paper contract for precious metals is going to be denied, breached etc. by this particular bank. I wish these people who own those contracts would sue them. Reason? Because the actual gold and silver prices are being manipulated and being kept as low as possible. Gold and silver (physical) is actually worth much more. |
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