[ExI] cyprus banks

[Tomasz Rola]

On Sun, 17 Mar 2013, spike wrote:

[...]
> Any rescue attempt I would think would need to come from those who own
> property, not those who own currency.  Reasoning: they have just
> incentivized the Cypriots and pretty much everyone else holding euros to
> convert them to metals.

Yeah. And then expect following people knocking to your doors: robbers, 
government agents, r-s disguised as ga-s, ga-s disguised as r-s, an so on, 
all coming to confiscate your metals. Legally.

http://en.wikipedia.org/wiki/Executive_Order_6102

It was particularly funny, because in 1933 they used a law from 1917, long 
after WW1 was finished. So, before you start collecting, better check if 
all those old papers have been repealed, so they don't get your metals 
with help of WW1-era or Big-Crisis-era statute.

Of course if they want, they can make a new law on as needed basis. So you 
may as well not check out anything.

In the above case, there was almost a month given to citizen, so that he 
had plenty of time to decrim himself. For comparison, in a communist 
country, a law like this was introduced overnight, including devaluation 
or exchange of money (no taxes, no confiscation, just your money was worth 
only half of what they used to be worth a day before... or just 3% of old 
value in case of bank account and 1% in case of cash... or one had to sell 
his gold at not-so-good price... people who got any kind of hint tried 
frantically to buy something before everybody will know).

Regards,
Tomasz Rola

--
** A C programmer asked whether computer had Buddha's nature.      **
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**                                                                 **
** Tomasz Rola          mailto:tomasz_rola at bigfoot.com             **