gold set to soar on cyprus bank run imo, page-280

I watche a few youtubes last night about Cyprus. Pretty much all the bankers/analysts just said 'what are you concerned about; depositors money is unsecured creditor money; if a bank blows up, they can lose; that is just the way it is'

Now oddly, Cyprus DID HAVE govt deposit guarantee in place. But govt just said 'oh, we dont have enough money to cover our promise'.

Now the 'moral hazzard' argument then showed up. The banksters have no skin in the game. They think depositors money is unsecured creditor money and they have no moral responsibility to it. And the banksters... if the govt resuces... good. If the govt does not ressue... such is life.

So the only people NOT LIABLE to lose money are the banksters.

Depositors can lose
Govt can lose
Tax payers can lose

The only people having no liability are the ones PLAYING WITH THE MONEY.

Imagine going to the races and betting with other peoples money. If you win... you keep a hefty percent of the winnings. If you lose... you lose not a cent of your own money.

Wow!