When Putting Money In Banks Will Make You Lose Money!

Posted by Kris | Monday, March 25, 2013 | | 1 comments »


The Cyprus troubles really kicks in some irony: Putting money in the banks for safekeeping will make you lose all your money!! (if you have 100,000 euros currently in Cyprus). This is just so wrong, banks were supposed to keep your money safe!! Now the banks looks like a big thief.

The 10% tax across all the deposits, is just wrong, the poor gets punished for the rich and powerful's folly. Hence it got aborted.

Looks like investing your money in tangible assets should be safer. Oh, wait, you just forgot about the sub-prime mortgage crisis that could wipe your fortune off.



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1 comments

  1. ChampDog // 2:54 PM  

    I heard if your deposit is > $100k, you don't get back anything thing. Way worst than 10%, is 100% tax!