In case you missed it:
Now that the precedent has been set, now that a western government has simply closed banks and helped itself to between 6.7 and 10 percent of each depositor’s money, I wonder if I should close my IRA.
Waiting thirty years for a tax break under these conditions seems ridiculous. The dollar will certainly collapse before then. The only question is how audacious the crimes of politicians will be when their system is in its death throes.
Let’s wait and see how big a bank run this action sparks.
Ukrainians have seen similar things before — bank holidays not for confiscation, but during period of hyper inflation. I think that aside from the Ukrainian oligarchs with money in Cyprus, people here consider this far away and other people’s business.
As my relatives say when I segue to the topic of sound money: “this would be really interesting if we had money to worry about.”
I actually think Ukrainians are among the best prepared people on Earth for currency collapse. Everyone here knows to keep money under the mattress and to hide their economic activity.