Cyprus Unclosed

[iaaems]

What makes the Cyprus event pertinent is that it can be observed as the thin end of the wedge and whatever happens there could set a precedent for times to come elsewhere including this little island. Whilst our economy is not quite as lop sided as in Cyprus 'we' still have a few problems to resolve.
So in order to survive a sudden extended holiday break for the banks you need some kind of flexible asset with which to live - money in some form or another, either the normal promisory notes or some gold or silver coinage. If the trust element goes out of the normal paper then you have at least a fall back with the 'real things' of yesteryear.
Just because we are not full members of the EU at the moment does not mean that our 'leaders' will not feel in the least bit abashed at copying the antics that seem to be successful elsewhere.
Should you be in the enviable position of having a stash in a bank or where ever please do not lose sight of the fact that any third party holding situation can be abused at will under the guise of taxation - the goal posts are very movable on this subject.