epiphany Posted March 17, 2013 Share Posted March 17, 2013 If we are to bail out failed institutions (which is one of the most basic violations of a supposedly free market), why not instead use the money to bail out the employees and savers who have lost money due to the failure of said institutions? They could then move their money to more ethical, responsible banks and our banking system would be dominated by institutions who think more about the long term effects of their actions. Link to comment Share on other sites More sharing options...
banjodeano Posted March 17, 2013 Share Posted March 17, 2013 Didnt Iceland let their banks go bust.? and i believe they are well on the way to recovery... Link to comment Share on other sites More sharing options...
Nagel Posted March 17, 2013 Share Posted March 17, 2013 Saving money in this current environment is folly. Interest rates are negative versus real inflation (and often, even versus the phony baloney official figures) meaning that your money is losing purchasing power while it sits in the bank. If the Cypriots had bought physical gold and silver, their thieving government wouldn't have been able to steal their money. Even gold isn't safe historically. All the government has to do is to make the possession of gold illegal. The USA did this in 1933 - http://en.wikipedia.org/wiki/Executive_Order_6102 Better buy Bitcoins Link to comment Share on other sites More sharing options...
Crosser Posted March 17, 2013 Share Posted March 17, 2013 Didnt Iceland let their banks go bust.? and i believe they are well on the way to recovery... The one near me seems to doing Ok, lots of stock and plenty of people working there. And they are doing 8 four finger kitkats for only £1.50 which is a steal! Link to comment Share on other sites More sharing options...
Waldo Posted March 17, 2013 Share Posted March 17, 2013 Even gold isn't safe historically. All the government has to do is to make the possession of gold illegal. The USA did this in 1933 - http://en.wikipedia.org/wiki/Executive_Order_6102 Better buy Bitcoins You're joking? So, no gold fillings, no gold jewelery, no gold-plated anything to improve electrical conductivity? Link to comment Share on other sites More sharing options...
Nagel Posted March 17, 2013 Share Posted March 17, 2013 You're joking? So, no gold fillings, no gold jewelery, no gold-plated anything to improve electrical conductivity? Just read the link. Link to comment Share on other sites More sharing options...
Anna B Posted March 17, 2013 Share Posted March 17, 2013 Doesn't this set a precedent? If they can whack on a 10% 'bank tax' in Cyprus, they can do it anywhere, any time the whim takes them... Link to comment Share on other sites More sharing options...
mafya Posted March 17, 2013 Share Posted March 17, 2013 Even gold isn't safe historically. All the government has to do is to make the possession of gold illegal. The USA did this in 1933 - http://en.wikipedia.org/wiki/Executive_Order_6102 Better buy Bitcoins They have to find the gold before confiscating it. Link to comment Share on other sites More sharing options...
saunaman Posted March 17, 2013 Share Posted March 17, 2013 The good old EU wind yet more people up - I believe the original amount of this proposed"one-off " tax was around 40% . How dare the eu take this amount of money off savers ? I'm personally going to withdraw all my money from Ed Ball's Co-Operative people's republic bank and explore some imaginative schemes to put money into local businesses . I don't trust any bank these days . If you do , then I'm not criticising , just sayin.... Link to comment Share on other sites More sharing options...
green Posted March 18, 2013 Share Posted March 18, 2013 The good old EU wind yet more people up - I believe the original amount of this proposed"one-off " tax was around 40% . How dare the eu take this amount of money off savers ? I'm personally going to withdraw all my money from Ed Ball's Co-Operative people's republic bank and explore some imaginative schemes to put money into local businesses . I don't trust any bank these days . If you do , then I'm not criticising , just sayin.... Suggest http://www.fundingcircle.com or http://www.kickstarter.com Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.