Bail in is in reference to the recent developments in Cyprus. Basically instead of the government (aka taxpayers) being forced to bail out the banks, it is the depositors (aka customers or unsecured creditors to the bank) who will be forced to bail out the bank.
Jim’s MailboxPosted July 4th, 2013 at 10:22 PM (CST) by Jim Sinclair & filed under Jim's Mailbox.
Chris,
Bail in is in reference to the recent developments in Cyprus. Basically instead of the government (aka taxpayers) being forced to bail out the banks, it is the depositors (aka customers or unsecured creditors to the bank) who will be forced to bail out the bank.
Even though customers have no say in the business of the bank, they may be forced to pay for the losses incurred by the bank.
Glass-Steagal needs to be brought back. This is the bill which separated consumer deposit banking as we traditionally know it and investment banking (equities, mutual funds, futures, bonds, derivatives, etc.).
Jim has advised to inquire whether or not the bank which holds your assets received bail out funds. If they did then you should bank elsewhere as these banks have been forced to sign off on clauses that would give those entities a greater risk of being part of a bail in effort.
I too find it interesting how the public was in defiance of the 1930′s decree to confiscate gold. This should clearly display the intrinsic knowledge and nearly universal acceptance of gold as a store of value and at times a monetary unit.
CIGA Marc
http://www.jsmineset.com/2013/07/04/jims-mailbox-1302/
Chris,
Bail in is in reference to the recent developments in Cyprus. Basically instead of the government (aka taxpayers) being forced to bail out the banks, it is the depositors (aka customers or unsecured creditors to the bank) who will be forced to bail out the bank.
Even though customers have no say in the business of the bank, they may be forced to pay for the losses incurred by the bank.
Glass-Steagal needs to be brought back. This is the bill which separated consumer deposit banking as we traditionally know it and investment banking (equities, mutual funds, futures, bonds, derivatives, etc.).
Jim has advised to inquire whether or not the bank which holds your assets received bail out funds. If they did then you should bank elsewhere as these banks have been forced to sign off on clauses that would give those entities a greater risk of being part of a bail in effort.
I too find it interesting how the public was in defiance of the 1930′s decree to confiscate gold. This should clearly display the intrinsic knowledge and nearly universal acceptance of gold as a store of value and at times a monetary unit.
CIGA Marc
http://www.jsmineset.com/2013/07/04/jims-mailbox-1302/