In 2013 the banking system in Cyprus failed. When the Cyprus FedGov & the EU FedGov announced Bank bail ins , I personally predicted this would become law in the Western World.
It is now Law in Canada! Think your bank deposit is safe and insured? Think again because it is not! Think this will never happen in Canada? It already did with Alberta Trust! Depositors got in line with the rest of creditors to receive 8 cents n the dollar!
How does one the current situation compare with the crisis in Cyprus?
Most investors of amounts below 100,000 Euro have up to now been of the opinion that their money with German banks is safe. The deposit protection was a source of security, but unfortunately that has currently sunk pretty far down. The reason for this is that German savers have already once experienced fear for the certainty of their money, namely all those who had invested their money in the Kauphting bank in Ireland. 2008, this bank went bust and German savers were only with great difficulty able to at least get back some of their money. Even if the consequences for the local German banks in the current crisis in Cyprus, would not be quite so disastrous German savers are nevertheless very insecure.
Most investors of amounts below 100,000 Euro have up to now been of the opinion that their money with German banks is safe. The deposit protection was a source of security, but unfortunately that has currently sunk pretty far down. The reason for this is that German savers have already once experienced fear for the certainty of their money, namely all those who had invested their money in the Kauphting bank in Ireland. 2008, this bank went bust and German savers were only with great difficulty able to at least get back some of their money. Even if the consequences for the local German banks in the current crisis in Cyprus, would not be quite so disastrous German savers are nevertheless very insecure.
Especially those who have invested their money in a bank located in Germany and therefore want to plan for their retirement and for emergencies, are now - perhaps rightly - much in doubt. They would prefer, if they only knew where it is safer - to pull their money out and reinvest it. Then the always quoted deposit protection of the banks is limited and not all savers can have their money returned. The politicians and the federal government always assert that the money saved is secure, but does one in this respect have to rely on the statements, then this guarantee is not enshrined in law, it is only an asserted guarantee.
The only safety net you can have is trade your paper dollars for Gold. Karatbars will sell certified & securitized gold by the gram. This makes buying gold affordable for everyone.
Karatbars is an e-commerce business also outside the banking system so your savings are held in a free account up to 1 kilogram. You can have your gold shipped to you insured FedEx anytime for a flat rate.
Holding Gold is a hedge against inflation!
Open your free account today by clicking on the link below.