The world is going to have another banking crisis but the next time around, the banks are going to take depositors’ money via a “bail-in.” This is the latest theory from respected market watcher, David Morgan of The Morgan Report. Morgan tells our Daniela Cambone, “The bailout situation is over. It will be bail-ins next time, which means you become an unsecured creditor of the bank. This means that if you don’t hold it, you may not own it. If we were to have a bail-in, they may not take all of your currency, but they would probably take part of it.” Morgan compares the situation to Argentina; “All the money in their banks was still yours, but you were limited to what you could take out.” #banks#financialcrisis#investing ICYMI, check out Daniela’s latest interviews here! – sbry.co/n4L3R Be sure to sign up for exclusive content and interviews from Daniela that you can’t find on YouTube! – sbry.co/SRE79 ______________________________ Follow us on Facebook: https://www.facebook.com/StansberryRe… Follow us on Twitter: https://twitter.com/stansberry Follow us on Instagram: https://www.instagram.com/stansberry_… Follow us on LinkedIn: https://www.linkedin.com/company/stan…
Banks Will Seize Your Money In The Coming Financial Crisis
If this is a bail-in video, I’ve often reminded people to take out as much cash as possible, since the banks can be a major liability, electricity isn’t guaranteed, banks aren’t always open, and bank runs lead to plenty of problems. I’d rather be my own bank since banks are a monopoly in how we receive income, and transact. BYOB Be Your Own Bank
The “bail-in” scenario forced thousands in Cyprus to move into Bitcoin, back in 2013.Anything over $100k was take to “recrapitalize” the corrupt, self-destructive centralized banking system. This was the first mass migration into Bitcoin, bringing the price from $20 to over $200 within 6 weeks. The rest is history.
I’ve been listening to David Morgan for years. He’s a straight shooter who gives his best guesstimate on where things are headed based on his knowledge and expertise. This made me really sit up and take notice because he’s not a “the sky is falling” kind of guy. God forbid his fears become reality. God help us if they do.
This sounds sensible. If they did a “bail-in” on the population as a whole, there would be a lot of bankers that end up at the hands of lynch mobs and find themselves swinging. If, on the other hand, they do this to the upper class they would be able to control that.
Uncle Joe cant get anything right, everything reeks inflation, gas prices are bullocks, its everyman for himself. The good thing is people are getting to know cash is pretty much stone age at this point, it is designated to fail eventually, 3 BEST and surprisingly easy ways to double or hold your funds in 2021; Real Estate, Gold, Who can guess the 3rd??