Bank Exec Suggests Limits on Withdrawals as Trust Declines
The banking industry has seen closings, takeovers, financial stability issues, technological problems and customer service failures at exponential levels in recent years. Earlier in 2023, Credit Suisse needed to receive the largest bailout of a single bank in history. Recently, Swiss National Bank chairman Martin Schlegel proposed – to help prevent a mass exodus of depositors from banks – they impose certain restrictions such as limiting the amount of money a person could withdraw or charge clients fees for exiting banks or other financial institutions. This would allow financial institutions to have constant control of your access to your own money and, perhaps ultimately, your privacy. Is this the future of banking? How can we safeguard ourselves from the banking sector and the cracks its foundation has been showing?
Swiss America CEO Dean Heskin and Wes Peters explore the possibilities, the factors which could accommodate a huge jump in gold prices, and what the future for gold holds on the Secret War on Cash.
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Articles referred to in this program:
Banks should slow deposit withdrawals, prepare better collateral to evade crises – SNB | Reuters
My Bank of America account was shut down overnight leaving me suddenly broke – they refused to say why, I’m not alone (newsbreak.com)