By Geoffrey Cope – www.petetioncrown.com
A person wishes to save money. They put it in a bank and in return, receive almost no interest whatsoever. But still, the idea is that, by putting it in the bank, at least it will be safe. A bank is not a casino, ooops maybe it is? They are supposed to be run according to basic prudential lending criteria and risks are supposed to be managed.
Central banks and regulatory authorities have they done their jobs? You can decide. They are the same people that have now granted themselves powers of confiscation over other people’s fiat money (Cyprus). For me the primary lesson is not to invest in banks.
The biggest “investors” in the banks are the pension funds, insurance funds etc. banks are buying the public debt of their respective governments in order to fund their hefty pensions, salaries, high standard of living. Now the money is gone and what with the Worlds economy?
In case law, a depositor is an unsecured creditor of a bank. After you deposit funds in the bank, the bank owns the money. (Maybe knowing this you will demand a high interest rate to mitigate the risk the bank takes with your money in the future)
“Bail-In” is only a temporary solution.
It will make little difference as all banks are bankrupt, probably to the tune of $400 trillion.
A new world currency needs to be born.
Today buy physical gold, silver, other pieces, art, coins, diamonds, yes it creates bubbles trying to get rid of currency and other worthless paper etc.. (The benefit is you hold a tangible asset even maybe at an inflated price, but you have an asset)
We have had it all too easy for a long time and now we must pay it back. In the future your retirement accounts could be nationalized. You will probably have a lien put on your property. You may even eventually agree with all of this.
Perhaps it will be for the best. If you want out of the system you should do some serious research
Your arguments are old and have been wrong.
I have done the opposite of what you suggested and have done quite nicely.