The Cyprus Bailout

[Clodfobble]

My father has financial business with older Russians on a regular basis, and he notes that many of them pay even very large debts in cash, and flatly refuse to use banks of any kind. They have told him that this is because when the USSR was collapsing, many of the banks simply seized all the money, and they would rather trust their mattress and a shotgun than put their money in a bank ever again.

I sometimes wonder if they're right. You think, "it could never happen here," right up until it does.