Facing a global depression and possible major bank runs in the near future, people weigh the risks of bail-ins while the economic powers hurry to go cashless…
Josh Sigurdson talks with Stephen Kendal and Tim Picciott about the possibility of major bank runs in the near future as the global economy enters into a global depression, the likes of which we have never seen before, not even close.
The problem is, with bank runs being a major possibility, most major economic powers are moving quickly over to a completely cashless society. Even today, most banks carry very little cash. This also risks people losing their money to bail-ins which are being proposed globally.
We have been warning about these possibilities for a decade but today we are facing the struggle.
Stephen Kendal breaks down his thoughts on bank runs, bail-ins and a cashless society. Tim Picciott adds his thoughts on the issue as well from the perspective of a financial adviser.