Big Cypriot depositors face 10% levy

Big Cypriot depositors face 10% levy | Irish Examiner

Well this will open the flood gates!!  You put your money in the bank having paid your taxes,get little or no return on the deposited money and then, when the Government screws up their finances,you lose 10% of you bank money to bail them out!!.Both New Zealand and Australia are looking at a similar system and you can bet that other countries are doing the same.
 All that this will do is push up the prices of Gold and Silver still further, as people will want to keep ingots, in their wardrobes, which can be converted to cash,easily. I,personally carry a 1.5oz Gold ingot, round my neck, on a chain. Many people now have Gold coins, in their pockets, wherever they go.They are extremely easy to move. Diamonds and other precious gems, of course, are even easier to move and much more valuable!