Quote:
Originally Posted by Mike Honcho
Sounds like the tail end of a Ponzi scheme to me.
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The Ponzi scheme was the mortgage backed securities and derivatives i.e. junk bonds that where given triple A ratings.
This is part of the inevitable consequence of the bankers fraudulent actions. If the average person understood just how much has been stolen from them all western governments would be fighting against arab spring type uprisings atm.
Thankfully for said politicians and bankers their victims are more concerned about X Factor, The Apprentice, Strictly Come Dancing and other mindnumbingly boring reality shows.
Quote:
Originally Posted by Mike Honcho
Get in and get out, as soon as possible, if you wait any longer your chances of getting your funds out will diminish.
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It's too late for that, the only thing that keeps all banks functioning is confidence, once confidence is lost the game is up due to fractional reserve banking. It's the same with the stock markets etc That's why the central banks have to keep on injecting money into the system to keep it going - otherwise known as inflation to you and me which is just another stealth tax but one governments prefer as the average person doesn't understand it so it doesn't look like theft.
Damage control has already started by the Cyprus government
Cyprus 'To Spare' Small Savers From Bank Tax
http://news.sky.com/story/1066463/cy...-from-bank-tax
It'll be interesting to see how this plays out.
It could be a Creditanstalt type event, I hope not!