July 5, 2015 Is your money in your bank safe?

I have warned you at this site to which for this and I am not the only one who has given this warning. Take a look at what Mike D. wrote me today.

A few weeks ago I warned the class about the concept of “bail-ins” as solutions to economic crisis.  Bail-outs place the taxpayer in line to pick up the tab.  On the other hand, bail-ins require bank account holders (you and me) to surrender money to banks and the government to solve a country’s financial ills.  Now “bail-in” appears on the front page of the London Financial Times as the best solution to solve the huge crisis developing in Greece.  Today it was announced that cash deposits are so low in Greece that many banks will NEVER reopen.  Sounds like 1932.  When the debt bubble pops here in America, be prepared to have some of your money taken in a bail-in.  It’s already started in Europe. http://www.ft.com/intl/cms/s/0/9963b74c-219c-11e5-aa5a-398b2169cf79.html#axzz3estiwZ8t

 Mike D.