Been there before

[laimeduck]

"The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and assistance to foreign lands should be curtailed, lest Rome will become bankrupt. People must again learn to work instead of living on public assistance."

 

– Cicero, 55 BC

 

So, evidently we've learned bugger all over the past 2,068 years.

 

[Tracker]

Sorry - can't agree with you there - on the contrary!

 

We have learnt that the budget need never be balanced, the Treasury can go on borrowing ad infinitum, the arrogance of officialdom can be multiplied tenfold, voters wishes can be ignored, assistance to foreign lands can go on growing, people can work less, pay less tax, have more leisure and holidays, spend more on things they us didn't know they needed, and retire younger - plus a far greater percentage of the populace can live on public assistance than was previously though possible, and it is hoped that inflation will reduce the value of the debt mountain and tomorrow never comes!

[Guest pelmetman]

But there is hope :-D......................A new way has been found ;-).............as Syd has flagged up...

 

"Of course, if you have any exposure to a desperate government, like Spain or Cyprus, the time to act is before they implement “emergency measures.”

 

It usually starts with a surprise ‘bank holiday’ or at the beginning of a long weekend. Once the banks are closed, the government is free to confiscate as much wealth as it can get away with. This can come in the form of a “tax” on deposits, like in Cyprus, devaluating the currency, or the nationalization of pensions, among other measures. After the wealth has been confiscated, capital controls are usually put in place before the banks are allowed to reopen. This is done to prevent the remaining wealth from fleeing the country.

 

Don’t forget the pattern:

1.surprise bank holiday,

2.wealth confiscation measures, and then

3.capital controls.

 

I sincerely hope that you all have had the chance to internalize the 4 lessons of the Cyprus debacle. With such a recent and stark example of what a desperate government is capable of, nobody should have to relearn those lessons again if and when Spain follows suit "

 

Anyone with more than £85k in savings?...............oh that'll be HE then >:-)

[Tracker]

pelmetman - 2013-05-23 1:13 PM

Anyone with more than £85k in savings?

 

A gentleman never discusses such matters in public as it can be mistaken for a bragging ego trip!

 

Just make sure it is in different banks in different countries - or speak to CliveH for advice!