Euro Bailouts: Savers Be Warned - Your Money’s Not Safe!!! Nearly half of all Germans fear for their savings!!! | |
Anonymous Coward (OP) User ID: 37247909 Portugal 04/01/2013 02:20 PM Report Abusive Post Report Copyright Violation | Re: Euro Bailouts: Savers Be Warned - Your Money’s Not Safe!!! Nearly half of all Germans fear for their savings!!! Germans are right to be worried about their savings because the euro bailouts will make most of them poorer in the long term -- through higher inflation and lower payouts from life insurance and pension schemes. Why can't crisis-hit nations follow the Cypriot example and make rich depositors pay a share? Nearly half of all Germans fear for their savings -- and with good reason. At times like these, the only thing that is certain is that nothing is certain. Not even savings accounts are safe, as was recently seen in Cyprus. Such deposits are actually guaranteed to up to €100,000, but the euro rescuers cared little about this as they desperately searched for funds. Cypriot small savers may have escaped this time around, but the realization remains, even beyond Cyprus, that a state teetering on the edge of bankruptcy will resort to all available means to raise money -- and a guarantee is only worth something as long as the entity that stands behind it remains solvent. Nothing is safe from being seized by the state, no savings account, but also no house or apartment. The Germans experienced this after World War II, when they were charged an extra real estate tax in the form of compulsory mortgages. Governments have even banned the possession of gold during currency crises, forcing citizens to exchange the precious metal for the national currency. So far, people in the debt-ridden countries of the euro zone haven't had such levies imposed on them. But why not? According to a recent study by Germany's central bank, the Bundesbank, for instance, Spaniards hold more wealth, on average, than Germans. Greece and Cyprus have millionaires and billionaires of whom many profited from the artificial boom fueled by low interest rates after the introduction of the euro -- a boom that subsequently went bust. Why shouldn't they help finance efforts to deal with the aftermath? Is it fairer to place the burden on the euro bailout fund, and thus distribute it among the taxpayers of other countries? The Benefits of Levying Assets A levy on assets would immediately reduce the debts of crisis-stricken countries, whereas bailout packages pool risks and shift them to the future. Those risks can become dangerously explosive. The more countries that have to be bailed out, the fewer countries remain that have to bear the burden -- as long as they are able to. This could even prove to be too much for Germany at some point. There is no reason to panic. But Germans should be concerned. After all, the bill for managing the euro crisis will ultimately have to be paid, and they will have to shoulder a large portion of this. If the bailout fails, the bill will be enormous. But no one should succumb to the illusion that the mission won't cost anything if it succeeds. Germans' savings are already shrinking in real terms because the European Central Bank (ECB) has flooded the market with money and lowered interest rates to nearly zero. Many Germans have already noted with dismay that their life and retirement insurance policies will pay out much less than what was originally promised. Many of them now realize that they will have to tighten their belts when they retire. ... [link to www.spiegel.de] |
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Anonymous Coward User ID: 37293061 Portugal 04/02/2013 06:34 AM Report Abusive Post Report Copyright Violation | Re: Euro Bailouts: Savers Be Warned - Your Money’s Not Safe!!! Nearly half of all Germans fear for their savings!!! Business Insider‏@businessinsider3 min DAVID KOTOK: Contagion Always Starts Small [link to read.bi] |
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Anonymous Coward User ID: 37357618 Portugal 04/03/2013 11:10 AM Report Abusive Post Report Copyright Violation | Re: Euro Bailouts: Savers Be Warned - Your Money’s Not Safe!!! Nearly half of all Germans fear for their savings!!! luis, are you hearing this rumor over there? Quoting: Anonymous Coward 36989487 == BREAKING: VATICAN TO ABANDON EURO AND INTRODUCE SWISS FRANCS == Posted By: gigi Date: Wednesday, 3-Apr-2013 10:12:00 Only rumors at the moment in the empty Apostolic Palace, the Pope lives in the Hotel Domus Marthe, Vatican is negotiating with Swiss Central Bank (SNB) to get ok to use Swiss Francs as official currency of the Vatican end of month, if true means RIP Euro. Such an agreement would not touch the Vaticans authority to coin, as the coins of Vatican finish nearly all in collector's hand. gigi link forbidden tormn |
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Hard Eight User ID: 35278639 United States 04/03/2013 11:36 AM Report Abusive Post Report Copyright Violation | Re: Euro Bailouts: Savers Be Warned - Your Money’s Not Safe!!! Nearly half of all Germans fear for their savings!!! Thanks Luisport I suspect many around the world are in fear for their savings as well. Especially the US with millions of baby boomers reaching retirement age each year. Zero interest rates. FED-infused stock markets. Govt. spending up to $7 to produce $1 in GDP. Banks leveraged up the obongohole. Hard to feel confident it's not going to carsh and force many to FEMA CAMP. Last Edited by Hard Eight on 04/03/2013 11:37 AM Texas has yet to learn submission to any oppression, come from what source it may. Sam Houston "The beauty of the Second Amendment is that it will not be needed until they try to take it." Thomas Jefferson If you don't read the newspaper you are uninformed, if you do read the newspaper you are misinformed. -- Mark Twain Giving money and power to government is like giving whiskey and keys to teenage boys. -- P.J. O'Rourke, Civil Libertarian |
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Anonymous Coward User ID: 27972246 United States 04/03/2013 12:27 PM Report Abusive Post Report Copyright Violation | Re: Euro Bailouts: Savers Be Warned - Your Money’s Not Safe!!! Nearly half of all Germans fear for their savings!!! LaRouche has warned you all for the past 30 years this was coming and in what sequence it would unfold.. no, he has very seldom put a date-line down.. and yet even on a Conspiriacy Site like this one, LaRouche is ignored almost completely. Go figure. |
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Hard Eight User ID: 35278639 United States 04/03/2013 12:47 PM Report Abusive Post Report Copyright Violation | Re: Euro Bailouts: Savers Be Warned - Your Money’s Not Safe!!! Nearly half of all Germans fear for their savings!!! Those, who still have savings in this world in this times, are those who really at least deserve it to lose all. Quoting: Anonymous Coward 37372847 That statement is so full of stupid it's not worth a response. Good luck with your senior years. Texas has yet to learn submission to any oppression, come from what source it may. Sam Houston "The beauty of the Second Amendment is that it will not be needed until they try to take it." Thomas Jefferson If you don't read the newspaper you are uninformed, if you do read the newspaper you are misinformed. -- Mark Twain Giving money and power to government is like giving whiskey and keys to teenage boys. -- P.J. O'Rourke, Civil Libertarian |
Anonymous Coward User ID: 37357618 Portugal 04/03/2013 01:08 PM Report Abusive Post Report Copyright Violation | Re: Euro Bailouts: Savers Be Warned - Your Money’s Not Safe!!! Nearly half of all Germans fear for their savings!!! [link to deutsche-wirtschafts-nachrichten.de] Today the dutch finance minister told the EU they wont pay them any more money. So far 11 bil per year. Do you think the gliches are attacks as retaliation? Think! |
Anonymous Coward User ID: 37357618 Portugal 04/03/2013 02:14 PM Report Abusive Post Report Copyright Violation | Re: Euro Bailouts: Savers Be Warned - Your Money’s Not Safe!!! Nearly half of all Germans fear for their savings!!! Business Insider‏@businessinsider2 min Europe's Only Option Is To Split Up by @AutomaticEarth [link to read.bi] |
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