The Cyprus bank-raid is likely to have catastrophic effects, not the least of which is a run on every bank on the island, followed by a flight of capital, mass unemployment and a crash in property prices. Europe’s currency is already tumbling in response.
And why did Cyprus go bust? I spent eight years there. The central bank was one of the most sensibly administered in Europe. The Cyprus Pound was one of the world’s strongest currencies. Thousands of international companies (including mine) were headquartered there. Tourism boomed.
Then the people of Cyprus made a very bad mistake. They voted to abandon the democracy they had had for almost 50 years. They joined the failing European Union.
First, Cyprus wanted to splash about in a bigger pond. Secondly, its people thought that becoming a part state of the EU would somehow protect them against the military of Turkey.
Cyprus joined the EU. At once, nearly every offshore company – including mine – fled. The euro collapsed as predicted.
And that was before the Cyprus government’s proposed bank raid on every deposit account in the island.
Why does all this matter for America? Well, your nation, like mine and many others in the West, is as bankrupt as Cyprus. And your people, like the Cypriot people, actually voted for bankruptcy. The Cypriots voted for the EU. You voted for bankruptcy, too.
America economy was wrecked by reckless borrowing. The sole reason why the United States is not in the same terrible straits as Cyprus is that the markets cannot quite believe just how quickly what was once the world’s most prosperous nation has been brought down.
It is only a matter of time before the investors wake up and smell the coffee. So here is an action plan to protect your family’s wealth from what has happened to Cyprus.
First, do not keep large sums at the bank where the government can steal them. Buy gold and hide it well.
Secondly ,Buy Vietnamese Dong and lraqi Dinars. Both are about to become internationally tradable currencies. When this happens, you could make many times your investment (or, if not, you could lose the lot).
The Cyprus bank-raid is likely to have catastrophic effects, not the least of which is a run on every bank on the island, followed by a flight of capital, mass unemployment and a crash in property prices. Europe’s currency is already tumbling in response.And why did Cyprus go bust? I spent eight years there. The central bank was one of the most sensibly administered in Europe. The Cyprus Pound was one of the world’s strongest currencies. Thousands of international companies (including mine) were headquartered there. Tourism boomed. Then the people of Cyprus made a very bad mistake. They voted to abandon the democracy they had had for almost 50 years. They joined the failing European Union.First, Cyprus wanted to splash about in a bigger pond. Secondly, its people thought that becoming a part state of the EU would somehow protect them against the military of Turkey.Cyprus joined the EU. At once, nearly every offshore company – including mine – fled. The euro collapsed as predicted. And that was before the Cyprus government’s proposed bank raid on every deposit account in the island. Why does all this matter for America? Well, your nation, like mine and many others in the West, is as bankrupt as Cyprus. And your people, like the Cypriot people, actually voted for bankruptcy. The Cypriots voted for the EU. You voted for bankruptcy, too.America economy was wrecked by reckless borrowing. The sole reason why the United States is not in the same terrible straits as Cyprus is that the markets cannot quite believe just how quickly what was once the world’s most prosperous nation has been brought down.It is only a matter of time before the investors wake up and smell the coffee. So here is an action plan to protect your family’s wealth from what has happened to Cyprus.First, do not keep large sums at the bank where the government can steal them. Buy gold and hide it well. Secondly ,Buy Vietnamese Dong and lraqi Dinars. Both are about to become internationally tradable currencies. When this happens, you could make many times your investment (or, if not, you could lose the lot).
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