The Forum > General Discussion > Banks deposits no longer secure after G 20 meeting.
Banks deposits no longer secure after G 20 meeting.
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>According to this “urgent bulletin,” this warning is being made at the behest of Prime Minister Medvedev who earlier today warned against the Western banking systems actions against EU Member Cyprus by stating:
Here it is Bazz from the EU times. Had no trouble accessing it.
We all know what happened in December 2012/2013 but you presented it as current news
not a rehash of history.
I understand what is happening in the world economy. Energy has got too expensive to
support growth and that simple fact is distorting everything that the gurus of the
financial world do. It has caused demand decline which has affected credit I gather,
and the major oil companies are spending up to double times normal on exploration and
development, but getting very poor returns.
The financial world is functioning just like all people do when faced with something
unpalatable, they much prefer to ignore it.
The effects of the end of cheap energy trickles down everywhere.
This is the first time it has happened and no one has any experience of it.
Statements like this in your post;
>Our money has 20 times less value now than in 1970.Real inflation created by banks is 7% pa and growth is lucky to be 3% pa.
Are becoming meaningless.
I understand the 70 rule but money is not working like it once did.
Those financial rules are losing their reality, not all at once but
step by step. This why economists do not understand why austerity or pixel money are
not working like they used to do.