The little island-nation of Cyprus is going through a nightmare.
European socialism is in the final throes of ruining that Mediterranean paradise, and now the Cyprus government has turned to stealing from frugal savers to keep its economy from collapsing.
Everybody with more than $130,000 in the bank will have those excesses stolen, taken, frozen, absorbed, and subtracted to keep the country’s economy floating. Those who are not protected under government insured accounts (similar to America’s FDIC), will have up to 40% of their savings taken by the government.
The Russians (they love Cyprus’s tax haven) will lose billions, businesses will lose millions, the individual saver will lose thousands, and the entire foolish experiment in “our government will protect you from cradle to grave” is going up in smoke.
Tens of thousands of Cyprus citizens are lining up at ATM machines to withdraw money. But they may only take 100 Euros a day—that’s $130 a day.
Why the ATM machines? Because the government has closed all the banks so people can’t empty the vaults and take their own property home.
How do you suppose the crime rate in Cyprus might change with cash being hoarded in people’s homes instead of in banks? The pickings for a thief must be pretty ripe in Cyprus right now.
That’s just one more reason why a Liberty safe makes so much sense.
This same kind of event happened in the U.S. during the New Deal era, and helped set off the Great Depression. Something like that is not likely to happen again any time soon, but emergencies do erupt at the worst possible times. And, with the twisted economic thinking taking place in America right now, the same kind of thinking that mimics the economic choices in Cyprus, Greece, Italy, Spain, France, and elsewhere, there can be no guarantees. If America did experience a similar problem, two things would happen.
First, thieves would know that many people would be stashing cash and valuables in their houses. Under such impoverished and desperate conditions, break-ins would skyrocket.
Second, Liberty safe owners would have peace of mind because their cash and valuables are locked behind the door of the finest safe in the world. It’s a peace of mind only Liberty can deliver.
It’s a pretty good bet that right now, most of the 1.1 million people in Cyprus are wishing they had a Liberty safe in their homes. Unfortunately for them, however, things changed abruptly, shockingly, and expeditiously. And now it’s too late.
Liberty safe—makers of the best-built safes in the world.