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." |