Davide
@0xdavide
🚨As I always say "keep in fiatcurrency only what you are willing to lose" I am not just referring to inflation and the loss of value of fiat currencies, but also to other events. Furthermore, in situations of serious financial crisis, confiscatory withdrawals from citizens' bank accounts have occurred in the past. Here are some examples: 🔹Italy (1992): The government led by Giuliano Amato imposed a confiscatory withdrawal of 0.60% on all bank deposits to repay public debt and deal with the economic crisis. 🔹Argentina (2001): Faced with a serious economic crisis, the Argentine government introduced the "corralito", freezing bank accounts for twelve months and limiting withdrawals, to prevent a capital flight that could have further destabilized the economy. 🔹Iceland (2008): During the global financial crisis, Iceland nationalized the country's major banks. British account holders of Landsbanki attempted to withdraw their funds en masse, causing a bank run and a liquidity crisis.
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Davide
@0xdavide
🔹Cyprus (2013): During a severe banking crisis, the Cypriot government, in agreement with the European Union, imposed a levy on current accounts over €100,000, with rates of up to 40%, to prevent the collapse of the financial system. 🔹In 2013, the International Monetary Fund proposed a forced 10% levy on bank deposits in 15 eurozone member countries to reduce public debt, suggesting that this measure was preferable to tax increases or inflation. How can you protect yourself? 1) Keep some of your fiat abroad (declaring your income, of course). 2) Invest in crypto of course: $BTC and stablecoins. 3) Hold physical gold.
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