Dopey, at the time of the bail-in I stated that the confiscation of bank deposits in Cyprus would eventually become the model for Europe's next phase of banking crises (to much ridicule). However, the secret bail-in mechanism is now in place - and the OMTs is now out of play - come the next round of crises.
As BMD is well aware, ALL risks assets (from stocks to bonds to commodities to real estate et al) is just that - at risk. In Australia the safest investment is bank deposits which are government guaranteed up to $250k per person per bank. Given global developments that's the safest place to ride out the storm over the next few years.
