by John Rubino, DollarCollapse.com:
So you’ve got this pile of cash and you’re not sure what to do with it. Nice problem, as problems go, but definitely not trivial, especially if you’re more concerned with keeping what you have than trying to make it grow.
Time was when you could simply deposit a few hundred thousand dollars or euros in your bank and relax, secure in the knowledge that even though your balance was above your country’s deposit insurance coverage limit, it was still pretty safe because your bank was, well, your bank. And no one loses money on a bank account. Even in the darkest days of the 2009 financial crisis, account holders at Citigroup and JPMorgan Chase were never seriously threatened.
That pleasant delusion ended on Sunday night when the EU forced tiny, previously insignificant Cyprus to charge large depositors for the cost of bailing out its overextended banking system – and eurozone officials hailed the plan as a template for future crises. As Britain’s Economist Magazine put it:
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