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Collectors Universe Inc. Message Board

  • dbtunr dbtunr Mar 17, 2013 10:46 AM Flag

    Cyprus seizes bank funds

    Announced after Friday close that bank deposits will be seized and a 6.75% tax confiscated on all accounts under $100K and 9.9% on over that. Wow!! Can you say flight into gold?

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    • " bank deposits will be seized and a 6.75% tax confiscated on all accounts under $100K and 9.9% on over that"

      It's worse than that. The price of gold is being manipulated and now under "investigation". Gold bugs have a good idea about who's behind the manipulating (holding down), and if they're right the manipulators would be as safe from investigation results as it's possible to get.

      Further, gold is "increasingly" being used as collateral in international commerce. With growing credit swaps, joint credit facilities, and non-dollar commerce between countries the U.S. $ is losing it's trading importance/position.

      I doubt it will happen in the U.S. like in Cyprus. The U.S. operates in stealth mode, but the end results will be the same or worse. Looking at what happened when the British Pound was unseated, I think it will be even worse in the U.S.. For one thing, the U.S.'s financial situation is far worse than was the case in Britain.

      My guess, Argentina is next They've already fallen pretty far now..

      • 1 Reply to a3leafclover
      • The lesson for all Americans to learn from Cyprus. "... the government [Cyprus] has now made it impossible to transfer money out of the country." The U.S. works in increments. A little here and a little there until "it's impossible to transfer money out of the country." And it works, because Americans don't care (now) and/or are not watching.

 
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