Josh Sigurdson talks with author and economic analyst John Sneisen regarding the recent push for a bail-in regimes in Denmark as they claim the Paschi model has failed.
Josh and John break down how bail-ins work and how they’re meant simply to steal the people’s money.
When your money’s in a bank, it’s no longer yours, it’s the bank’s. With bail-in regimes written into legislation, this allows banks to basically cash out your bank account to pay off debts they’ve accumulated irresponsibly.
Bail-ins have become a problem in several countries including Greece and Canada as well as the push in Italy. No one seems to understand what bail-ins are so no one says anything. However, people will be sorry they didn’t act when they could when their money is stolen and there’s absolutely nothing they can do other than go into debt.