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| Point 3:
In such a scenario, I will likely not have a choice, unless I quit the bank. Even that will not be much of an option for me because I work in a family owned bank and my family happens to be the owners. If you worked for a bank in Cyprus, what would you do? Non-compliance might actually put you in jail.
Knowing the issues involved here, my distrust of politicians to make wise fiscal choices, the lack of resolve to protect currencies makes me want ot puke. Certainly makes me want to diversify outside of paper assets and I do let other family members know of my strong opinions on these issues.
The real alternative here is gold and silver backed currencies. Problem with those is that they failed to allow economies to expand and there was a lot of economic turmoil that resulted from that economic system as well. So, on the one hand, you have gold and silver backed currencies that do not allow for economic expansion but do force responsibility and accountability. On the other hand, you have fiat currencies which do seem to have a lot of tools that allow for controls to expand and contract the economy, but are not very good at forcing responsible fiscal decisions, especially upon politicians. My sense of this is that we have ventured to far on the liberal side of the equation with fiat currencies, so that gold and silver are very likely to continue to rise in value due to the lack of counter-party risks. Take that for what it is worth.
As a Christian I long for a better system and feel there is one defined in the Scripture. Does not involve banking as we know it, though. And it just will not happen before the Kingdom of God is revealed because not enough people believe in it to see it fully implemented.
Edited by Iowegian 3/26/2013 07:55
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For Iowegian and others Re: Banker conversations.
