Here's Where The Next Bank Deposit "Bail-In" Will Strike...

I’ve been to Italy numerous times over the years. But this time, I saw something new. There were signs everywhere advertising gold bullion, like the one below.

I think it indicates a strong demand for gold and a strong distrust of the banks. It seems to me like a slow motion bank run is already happening

One shot from a pistol pierced the night right before Antonio Bedin collapsed, dead.
Antonio, a 67 year-old retired Italian, had just committed suicide. He was plagued by health problems and by the loss of his savings.
Last year, four small Italian banks became insolvent and immediately needed capital. They turned to a bail-in.
Antonio was one of thousands of small savers who were wiped out. Antonio lost everything. Then he shot himself.
He wasn’t alone.
There was another pensioner who hung himself at his home near Rome after he lost more than $100,000.
Their stories became national news sensations. It generated intense anger at the bail-ins.
A bail-in is when a bank recapitalizes itself by tapping its creditors, including depositors.
Most people think of the money they deposit into the bank as a personal asset they own.
But that’s not true.
Once a deposit is made at the bank, it’s no longer your property. It’s the bank’s. What you own is a promise from the bank to repay. It’s an unsecured liability. That’s a very different thing from owning physical cash stuffed under your mattress. Money deposited into the bank technically makes you a creditor of the bank. You’re liable to get burned from a bail-in should the bank get into trouble.

Για τη συνέχεια Zerohedge

1 σχόλιο:

  1. πολυ ενδιαφερον αρθρο.Να δουμε και το δημοψηφισμα και τις οποιες εξελιξεις μετα απ αυτο....


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