Fwd: STAY CALM, DO NOT PANIC
--- On Sun, 2/1/09, Deosaran Bisnath <deobisnath@...> wrote:
From: Deosaran Bisnath <deobisnath@...>
Date: Sun Feb 1, 2009 7:53 am
Subject: STAY CALM, DO NOT PANIC
Since last Friday, several people have asked me for advice about the current financial situation, specifically what to do ?
The first thing I advise them is what NOT to do: DO NOT PANIC. Do not rush to the bank or financial institution to withdraw your money. In fact, your money is much safer now than before since the State has guaranteed your deposits and investments.
You cannot be much safer than that. Honestly, you should have panicked when CIB had your money and was facing a liquidity crisis but very few knew, and we will have to look at any possible "insider" dealings later on. But, for now, you should be more assured that your funds and policies are guaranteed by the Government. That is maximum safety. Why worry and raise your blood pressure and get sick?
It is HIGHLY DANGEROUS and FOOLISH to withdraw huge sums of cash and stash it in your home or keep it with you or in your car. Criminals and thugs are aware that many foolish people will rush to do that and they will rob and possibly kill the naive and foolish people who do not understand that the safest place for your money is in the bank, guaranteed by the State and Central Bank.
Do not rush over to First Citizens or Republic Bank or any bank, or to CLICO. A massive amount of paperwork must be done. It is really a mammoth task to prepare and arrange for any payments. This may take a week or two, minimum.
We have too many murders, robberies, and other crimes. We advise people not to open themselves to even more crime by walking around with thousands of dollars. It has caused me embarrassment several times but I still do not carry more than about $200 in cash - use plastic: credit and debit cards. It is safer, and I am sure we would rather be embarrassed than robbed or killed.
When the proper arrangemens are finalized and you are notified you can then proceed to withdraw or transfer your funds to other financial institutions.
Do not listen to those who are spreading rumors. Relax. Chill. If you are nervous and concerned, take a day off and go to the beach or stay indoors and enjoy yourself, watching TV or listening to music or whatever makes you happy.
Editor, International Jahajee Journal
President, GOPIO Trinidad and Tobago.
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