I spoke too soon discussing American pensions the other day. At least that isn’t life savings-level of investment (or shouldn’t be).
11 countries face legal action if bail-in rules are not enacted within two months
– Bail-in legislation aims at removing state responsibility when banks collapse
– Rules place burden on creditors – among whom depositors are counted
– Austria abolished bank deposit guarantee in April
– “Bail-in regimes” coming globally
Technically when you deposit in a bank it’s legally classified as a loan.
This is why they pay you interest, however low the percentage.
This is also why they want to remove the cash option, because commodities are already regulated.
Savings are at a record low. Have fun taking 100% of sweet fuck-all.