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by fishcakes 4835 days ago
German bankers sending a message to people to move their money to Germany because it isn't safe elsewhere
3 comments

Singapore. Germany is the last fucking place I would put my money. Income tax around the 50-55% bracket. Good luck.
One view is that if you have Euros, the safest place for them is Germany, because if the single currency does break up over a weekend, at least your Euros will be converted into Deutsch Marks.
If Germany is not safe enough for your money, nowhere in the Eurozone will be. Recent history shown that German banks are safer than USA or UK ones.

As a small saver, if I was a Cypriot, I would move all my remaining (i.e. not-yet-stolen) money to Germany ASAP.

What makes you think future confiscations won't be by citizenship, regardless of the nationality of the bank?
Would the money be safe in Germany? I think I much prefer to have my money (little as it is) in a bank outside of the Eurozone. Perhaps in one of the South-America or BRIC countries if at all possible.
Really? BRIC? Perhaps a few of the most corrupt/oppressive/restrictive/authoritative/land grabby/no-due process governments in the history of the world? You'd feel safer there? Not Canada, US, UK, Australia, Japan? I'd take any one of those over BRIC any day of the week.
I think he's talking about stowing his money there, not himself. Corrupt, oppressive, authoritative regimes are more likely to screw their own people than valued foreign investors. Theoretically.
Well perhaps all of the BRIC countries wouldn't make sense, but if money is stored on a bank in Brazil or China I would expect it to be reasonably safe. The point I tried to make was that I wouldn't like to store money in countries too closely linked to the Euro and (perhaps) US Dollar.
What is wrong with Brazil?