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."
As a reader you deserve to know the truth behind the disasters our world faces. The world faces an almost dystopian future — one in which the few are rich and living longer while the many postpone retirement, struggle to get by. We've turned the economy into a miserable hellscape and you're just going to have to deal with it
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