Wednesday, March 20, 2013

Cyprus Won't Happen Here

Well it might in New Zealand (and elsewhere) and here's why:

"Kiwis with money in the bank could see their nest eggs and savings dwindle in a government move the Greens say is a "Cyprus-style solution" to help out failing banks.

New Zealand banks are readying their IT systems for Open Bank Resolution, a Reserve Bank policy that in extreme cases like insolvency would see a bank's losses shouldered in part by its shareholders and creditors - including everyday depositors."
- NZ Herald

It appears the 'theft from depositors disease' is rapidly being put in place around the world. If you think your wealth is safe in the bank. Think again.

Are we not being told of some very near impending doom? Maybe, but why is are these new laws happening now?

Gold in New Zealand dollars: $1954.91 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)

Silver in New Zealand dollars: $35.04 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
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