In Cyprus, banks have been closed for nearly two weeks as the country attempts to keep citizens from emptying their bank accounts amid the country’s financial crisis. Restrictions will be imposed on the banks when they do open, likely keeping account owners from withdrawing within a certain limit. Even while the country has reached a bailout agreement with the Eurozone, large depositors will face hefty “taxes” to their bank accounts.
It’s not an assumption then to say the country’s citizens have lost trust in Cypriot banking institutions.
So what’s next for the Euro? The singular currency is under threat, and countries in the eurozone, fearful of similar Cyprian civil unrest, are responding accordingly.
The Daily Sheeple is reporting that Holland is reacting to the crisis in Cyprus by halting gold delivery at one of its major banks. The Dutch Bank ABN Amro has sent a letter to its customers informing them “that they will halt extradition and physical delivery of their clients’ gold holdings effective April 1st.”
So while citizens in Cyprus are frantically withdrawing cash from ATMs, Holland is preparing to halt any physical gold runs. Americans are rushing to buy gold in fear of their assets being seized. The US is stockpiling mass amounts of ammunition and seizing weapons. Oh, and Jim Carrey sucks.
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