This morning dated 28th of March 2013, traders, investors even speculators had a different perception as to the opening of Cyprus banks to the public. The reaction so far “muted”…no “bank runs” as capital controls set in place to keep the Cyprians or outside investors to withdraw the “piggy bank”. This is a temporary “band-aid” solution that we are viewing today…in the long term..this will spillover and create a new debacle.
The question remains…which Euro nation is next on the list?
Gold & Silver remain choppy and losing the preferred choice of “safe-haven” status…yet if an avg. Cypriot citizen had a few ounces of gold and silver….their preservation of wealth would be greater. We all know that precious metals has been in existing for 5000 yrs…and will always remain a preferred alternative to preserve wealth.