Video Description
Four times governments and banks took people's savings or stopped them from getting their money out, and the warning signs to watch for.
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From Prague, Cory Klippsten walks through four cases. In 1953, Czechoslovakia's communist government announced a currency reform over a weekend: government bonds were canceled, and cash savings above a small allowance converted at a rate ten times worse than wages. In 1992, Italy taxed bank and postal deposits based on balances from two days before the decree was published. In 2013, Bank of Cyprus converted 47.5% of eligible deposits above the...
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