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What happened to Cyprus will NOT happen to the US... It will be much worse.
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Agree. I only keep enough money in my checking account to cover bills, the rest i keep in cash.
A banker holiday is inevitable. Once that happens, we will see deflation, since most everyone uses electronic means of payment, they will not be able to purchase anything. Prices follow demand or the ability to purchase, the price of goods should fall, for a time until the shelves run dry. Whether its physical cash, metals or bitcoins, the ability to utilize a means of exchange in the challenging times ahead is key. Also consider trade/barter items to stock up on.
You guys do what you want ... I've been taking my money out. It wasn't earning any real interest so no harm to me. Next up, convert to small stuff.
There is a movie called ROLLOVER that was made some years ago that does an excellent job of showing what the BANKERS and WALL STREET have done, are doing and what the final end result will be. Really well done movie and I STRONGLY suggest to everyone to watch the film as soon as possible.
Cyprus purchased fraudulent securities from Greece that were created by Goldman Sachs. This was done to destroy the Cyprus economy to create the conditions where the resources of Cyprus could be procured far cheaper than had Cyprus economy been strong. This is an old tactic illustrated by:
“Confessions Of An Economic Hitman” John Perkins, Pt. 1-4 Link: http://www.youtube.com/watch?v=48Q0Igb6cd0&feature=player_embedded
The Russian money was taken out of the banks through Cyprus affiliates in other countries that did not have withdraw limits. Russia is going along with the charade for some unknown point of interest, most likely resource rights in the long term.
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