All it’s causing is yet another boom and bust cycle and the question nobody is asking themselves is just how many more of such cycles can the global economy absorb before it totally disintegrates? As an individual, the time has come for you to take your proverbial “destiny in your own hands” and begin to create hedges/safety nets to mitigate the fiscal incompetence of global governments. The steps you should take in order to mitigate the threat of banks freezing your cash as they did in Cyprus are as follows:
Firstly you should always have enough cash in your house or in a safe place elsewhere to be able to take care of yourself and your family for at least 3 months, so that if the government in the nation where you’re currently domiciled decide to pull the same stunt on you as they did in Cyprus, then at least you and your family can survive. Secondly, you should begin to look at secure ways to keep more of your cash outside of the banks, so that in the eventuality of banks freezing your account and demanding that all the citizens should use their savings to bail out their government, you will not be too adversely affected.
Unfortunately, these are the measures that we all have to start taking to protect our money so that we don’t become the unfortunate victims of failed government economic policies. We cannot dictate the behaviour and conduct of those public officials who we elected to serve us but we can certainly do whatever is deemed necessary to protect ourselves and our children from their fiscal and economic mismanagement.
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