Wednesday, April 3, 2013

Bank run searces on Google reach all time high after Cyprus account thefts

On April 3, google searches for the term bank run reached an all-time high, even surpassing the 2007 Lehman crisis, and the ongoing Greek and Spanish bank crises.

Courtesy of Google

Additionally, many top investors and economic analysts are saying that what took place in Cyprus is not just a one time event, but a blueprint for economies in the rest of Europe, as well as the United States.

There is an old adage that says, if you want to invest well, do what the rich do.  For anyone who had been front running the Cyprus banking haircuts, they would have realized that not only did 135 wealthy Cyprians move their money out of Cyprus banks before the bank holiday, but some of these elite included the President, and Finance Ministers who went on to agree to the theft of uninsured accounts.


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