Friday, 22 March 2013

We are all doomed

So - the way  I read the present situation is - crisis.
This little episode in Cyprus is going to precipitate terrible things for us all.
It is telling us that no money is safe in any bank in Europe (except Germany).
I have my life savings tucked away in several different UK Banks some mainly owned by us - the public.
BUT.
Nothing is safe
Banks can go bankrupt
Government can overide promises to guarantee deposits as is happening in Cyprus
Governments can go bankrupt
Countries and their banks can go bankrupt.
Pensions get taken away or disappear
The Euro is about to blow-up
The EU is not going to be able to cope with Cyprus, Greece, Portugal, Spain and Italy all going under.
France and Britain may follow
Britain's debt has doubled in size instead of improving. It will soon be larger than our GDP.
We are all Dooooooooomed



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