Friday, April 5, 2013

Spread you money deposit risks over several banks

I, for one, am making sure I don’t have too much money in any one specific bank account anywhere in the world, because now there is a precedent.

The IMF and European Union have told Cyprus, “loot the bank accounts", So you can be sure that other countries when problems come, are going to say, ‘well, it’s condoned by the EU, it’s condoned by the IMF, so let’s do it too.’