Quote from: Chin Cheng on June 30, 2017, 09:46:06 PM

Quote from: deisik on June 30, 2017, 01:34:22 PM

You should never forget about the Cyprus haircut of 2013 when depositors in the Cyprus banks had been stripped off of their deposits despite any deposit insurance, which you refer to in your post. So no such insurance can secure you from the lawlessness and severe abuse of power from the government itself.

We have hundreds of countries and we can only point to one situation that happened in Cyprus, i am not too sure what really happened nor do i bother to google it,but most of the developed countries does have a rule and regulation that protects its customers and no government could snatch your wealth if you are a legal citizen.

Cyprus haircut is just the most recent example of a government outright stealing the money (wealth) of their citizens that received wide publicity. But this is obviously not the only case of such and similar things. For example, in 1991 Russian (then Soviet Union) government conducted a confiscatory monetary reform actually liquidating the population savings overnight (though this is not related to banks as such but still). In other words, if things go massively awry, you shouldn't cherish a lot of hope that your government is going to defend you and your money, and still more so if you are a "legal citizen"

Most likely, you will be the first to get milked

Quote from: stompix on June 30, 2017, 08:27:07 PM

~snipped~

Go away, clown