With all the latest uproar regarding the Cyprus bailout, I can say this: your money is safer sitting at a domain registrar, than at a Cypriot bank.
Having had a balance of $3.52 at Moniker for several years, I am watching that odd-figured nest-egg sitting there, without much of a disturbance – or growth, for that matter.
Try doing that at Laiki (Popular) Bank of Cyprus, where Russian oligarchs laundered billions of euro as if it were Monopoly money.
The fun part, is that those Europeans that point the finger, claiming gross mismanagement of dubious funds by Cypriot banks, forget that Switzerland, Lichtenstein, Andorra, Gibraltar, Isle of Man and Monaco all do the same. But these are the ‘holy lands’ of banking, unlike poor Cyprus that dared to offer low taxation incentives.
Meanwhile, I’m still curious about how to spend that $3.52 at Moniker.
That’s definitely something to think about. Thanks for the great insight Theo.
Greek and Cyprus are both jewels of the Mediterranean. I find it disturbing that financial mismanagement of the country is as bad as it is. Now about the $3.50 my advice would be to keep it there.