cyprus and pm's

I get the distinct impression the Cyprus debacle might well be the catalyst that motivates more PM buying.

New Zealand and Spain are both either manipulating/rejigging current laws or out right enacting new ones to tap depositors funds in the event banks need bailing out.

I doubt this will end with just a few countries. The likely outcome is that people will engage various strategies to protect their savings and PM's would be an obvious choice. One I think that could feature high on their list of choices.

I for one have taken security of my bank deposits for granted until now but after this past weekend that is getting a serious rethink. I will now look at diversifying funds across various banks, substantially reduce my deposits and progressively move them in to more protected formats/locations.