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RE: So, what's up next for savers? (By Simon Black of SovereignMan.com)

in #debt7 years ago

It's great that people like you are putting this information out there.

Having already seen the bail-in resolution tested in Cyprus, I am surprised to some degree that these two Italian banks were granted a government bail-out, especially given that bail-in legislation has already been passed throughout the European Union. I've no doubt that we'll be seeing bail-ins for future collapses.

I agree with you that holding a bit of cash at home is a good idea. I'd add that that would be an ideal contingency for spending if and when a banking crisis occurs and banks are closed, electronic payments are not available or capital controls are introduced. Having some cash on hand allows spending on day-to-day essentials (such as food). However, cash at home loses value due to inflation, more so if hyper-inflation were to set in, so longer-term savings outside of the bank system are probably best kept in non-cash assets such as precious metals, cryptocurrencies and property.

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