Posts Tagged life savings

Have your Life’s Savings been given a “Haircut”?

Kipper Williams on CyprusMaybe this is the answer…

Keep your money under the mattress, literally!

If your life’s savings haven’t yet had a “Cyprus haircut”, then get your money out of the banks and under your mattress before thy do!

The mattress safe – the latest way to bank with confidence

One Spanish business has hit upon a novel update to an old idea to bypass the country’s banking crisis – a mattress in which you can stash your hard-earned euros

My Mattress Savings Bank features a safe hidden among the bed springs.

Is your money safe in the bank? Obviously not if you deposited large sums in Cyprus – where the decision to raid savings accounts has rung alarm bells in other countries teetering on the bank bailout high-wire.

But what else can you do with those hard-earned pounds, euros or – for Russian tax-dodgers and mafiosi – roubles? Stuffing them under the floorboards or your mattress is hardly a secure option.

Step forward La Caja de Ahorros Mi Colchón, My Mattress Savings Bank, a novel Spanish business that provides you with a mattress that has a safe hidden inside the springs.

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Cyprus fallout

Reblogged from: The Liberated Way

Savings are no longer sacred, they can be stolen by banker or bureaucrat.

I play chess, often that knowing experience arises when I see my doom, wherever I move I am checkmated.  It is my opinion that in the endgame

Cyprus faced a similar chess ending, they were going to lose whatever they did. Nobody will now invest in Cyprus, all the savers will run taking what is left of their savings with them.  The banking industry of Cyprus will collapse, the Russians will flee taking all their trade and money with them.  A main source of employment will evaporate for Cyprus citizens as the Russians flee on the back of loss of credit and their savings.

For me a citizen of Britain, a spectator of events in Cyprus, a person who looks to banks for his personal and business banking needs, a dread of what has just unfolded.  Ordinary citizens of Cyprus had worked hard to save, their earnings already taxed, what for some was their life savings, a third or more has been stolen from them on the whim of politician and banker.  The reported unfortunate business who was half way through a transaction, the proceeds of the selling of a restaurant will be grabbed before they could move to use those proceeds for investing in their business. From a business and a personal point of view I am aware that money may no longer be safe in banks.

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