“We guarantee your savings”
That is the claim by the Irish government, now the German govt and the British govt before when it propped up Northern Crock.
But how can it guarantee it? The Irish government is now in recession. Its treasury is leaking money. It cannot guarantee it. The Irish government is lying. The German government is lying so is the British government (no surprise there!)
There cannot be any guarntee. It’s a psychological scam!
You might argue the respective governments/ treasuries could print what it needs to cover the guarantee. If it prints more money to give you it will depreciate the value of the currency. So your might get your €40,000 in notes, but in real terms it ain’t worth no €40,000. Not only that, everything else you own will be worth less. You will in effect be funding your own guarantee!
Am I wrong?
Let’s call their bluff.
Pull ALL your hard earned money out of these fraudulent institutions, institutions that have helped kill millions upon millions of people across the world. Institutions that if bailed out, will have gotten away with gambling other people money with impunity, only to be able to draw upon YOUR money if their gambling fails.
Take out your money. If they aren’t lying, there’s no problem – yes?.
If they are lying then you’re money is in serious jeopardy anyway so act to protect it!