God’s Words of Strength to His People During Financial Turmoil
Cypriots Queue to Enter Banks With New Rules
March 28 (Bloomberg) — As the markets open across Europe, Bloomberg’s Francine Lacqua tracks the breaking stories, exploring their impact through expert analysis and interviews. (Source: Bloomberg) We expected much more people,” said Argyros Eraclides, manager of a Bank of Cyprus Plc branch in the Stavrou area of Nicosia. “Fortunately there are only some people who needed cash for the day, but customers reacted fantastically. We expected some people to be more aggravated.” Banks opened at midday local time today, with lines of about 15 to 20 people waiting to enter branches in the Cypriot capital, and closed at 6 p.m.
The Central Bank of Cyprus’s controls include a 300-euro ($383) daily limit on withdrawals and restrictions on transfers to accounts outside the country. Cyprus’s lenders had been shut since March 16, when the European Union presented a proposal to force losses on all depositors in exchange for a 10 billion-euro bailout. That plan touched off protests and political upheaval on the island, and was rejected by the country’s parliament. A subsequent agreement closed down Cyprus Popular Bank Pcl (CPB), the second-largest lender, and imposed larger losses on uninsured depositors.
If you have yet to consider the sanctity, stability, ‘store of value-ness’ and true safety of the paper currency you hold within the banking system, now might be a good time to start.
Wealth Transfer Planning
Precious metals have always been a safe haven for investing in high inflationary times. Historically speaking, a recurring cycle that always seems to repeat itself is periods of high inflation as a precursor to the crash of paper currencies. Those who understand this wealth cycle and position themselves in gold and silver are those who prosper.
Precious metals are assets that will never lose their value. They are not subject to systematic risks as paper money and serve as a hedge against inflation and other threats of devaluation. Cornerstone Asset Metals was established to help guide investors safely in and out of the precious metals market.
The Great Wealth Transfer
Watch Terry Sacka: The Wealth Transfer show on the Christian Television Network discussing the financial and influential decline of the Western world and the simultaneous wealth increase of the East. With the wealth of nations shifting, it’s imperative to understand moving forward how hard tangible assets will allow you to maintain a quality lifestyle.
Visit the Wealth Transfer archive for more episodes.
Learn more about how buying gold and silver today is a smart move for your investment portfolio.
» Contact Cornerstone Asset Metals today to learn more about buying gold and silver as an investment.
» Read our article: Why Silver is Going Up Today?
» Read our article: Why Gold is Going Up Today?
Past performance is not an indication of future potential values.
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