Keep Your Money Safe

Cyprus has gone belly up owing money to the International Monetary Fund and other global money lenders. They came up with an austerity plan but it’s not enough to satisfy the demands upon them. They have been ordered by the EU to seize 10% of the money in people’s private bank accounts. This has caused panic withdrawals from ATMs. British troops in Cyprus will be reimbursed by the British government for any losses they suffer.

Obama is passing a law that will allow the American security agencies to go into any bank account in the country, ostensibly it is a con job about money laundering, but in practice it allows the government to see who has cash that can be stolen and who hasn’t.

Keep your money safe. If you have just a little then keep it in cash or buy a few gold coins and if you have a lot move it overseas. It’s not against the law for an American to have a foreign bank account they just have to file a form saying the account exists. Stuart Wilde www.stuartwilde.com