So i'm a bit paranoid about banks and for good reason. It seems countries across Europe are adapting laws to allow bail-ins.

How long till the dollar fails and we have legislation like this?

http://www.zerohedge.com/news/2014-07-09/germany-blesses-bail-deposit-confiscation-plan-failing-eu-banks

8/14/2014 9:39:18 AM

within the week

8/14/2014 9:48:00 AM

Well, for one thing, I would much rather be bailed out of something, than bailed into something.

8/15/2014 11:42:43 AM

So if your money is in a bank that fails, you have to throw in more to keep from losing it all?

8/15/2014 9:09:42 PM

Quote :

"So if your money is in a bank that fails, you have to throw in more to keep from losing it all?"

Not really. It basically gets rid of the concept of deposit insurance and shuffles the repay order for bondholders and such so that taxpayers foot less of the bill, or none at all, for winding down a failed bank. If you hold bonds, you could lose some or all of the value if the bank doesn't have enough capital to cover its obligations. If you hold a deposit account, it's looked at as just another obligation--you could lose some of your money if the bank fails. So it's not that you have to throw more in, but that "deposit" is no longer a holy word and that you're just another creditor.

They'd probably rough up the bondholders pretty good before they get all the way to shaving deposit accounts, but it could happen.

8/16/2014 1:06:38 AM

Zerohedge? lol

8/16/2014 10:32:50 AM

^^ because runs on banks have never caused trouble before

8/17/2014 12:39:17 AM