“Given what happened in Cyprus, how safe is offshore banking?”
We received this dozens of times this week… but the real question to ask is, “How safe is BANKING, of any kind, anywhere in the world?”
Most banks in the West are already technically insolvent. They have very little cash as a percentage of deposits (typically less than 2%), and their books are loaded up on toxic debt owed by sovereign governments that have no hope of paying.
Read the complete article at Sovereign Man here.
Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.