If you’re like me, and you probably are, you wouldn’t just step aside and let someone walk into your home and steal all of your personal belongings. But would you let the Irish government do it? You see, Ireland started the bail-outs. And we’re going to share why that matters.
You’d put up a fight. At the very least, you’d call the authorities.
That just seems like basic common sense, right?
While most people take steps to safeguard their homes by putting locks on their doors and installing alarm systems, they take no steps whatsoever to protect their hard-earned cash!
You’re probably wondering what I’m talking about, aren’t you?
In the run-up to the financial crisis, banks were overexposed to toxic investment products. They were driven by greed and had no regard for the depositors they were meant to serve.
Then, it all unraveled between 2007 and 2008. A large number of major banks from around the world received hefty government (taxpayer) bail-outs – meaning that governments used tax-payer money (your money) to stop banks from going bankrupt.
And, it all started in Ireland. In fact, during the last major financial crisis, Ireland started the bail-outs.
Their hope was to avoid the panic of systemic failure, which would send the entire global economy spiraling downward.
The Irish were not the only country trying to put a plan like this into action, but they were the first to pull the trigger.
While Ireland started the bail-outs using tax-payer money to stop the downward economic spiral, they also created a painful side effect…
…a lawless banking sector without repercussions for mistreating depositor money or taking unnecessary and blatant risks.
For the most part, when Ireland started the bail-outs it also resulted in the debt-ridden “developed” economies of the West, Europe, and the United States in particular.
Now, moral hazard aside, the most important question you should be asking is:
How do you, as a realistic person that understands the risks of entrusting your money to governments, regulators, and uncaring bankers, protect your hard-earned cash?
Unfortunately, the answer to that question is not as easy as it used to be…
Governments around the world have adopted the same kind of bail-out mentality, and banks know it. And what’s worse, in some places, like the European Union, legislators have even introduced “bail-ins”.
In case you’re not familiar, while a “bail-out” refers to the tax-payers footing the bill for the bank’s failure, a “bail-in” refers to the depositors ponying up the cash.
But in any case, whether you’re a tax-payer or a depositor, you should know if your money is safe. And that means knowing if it is going to be used to save the banks from their own poor decisions. In other words, is your money at risk of a bail-out or a bail-in?
Banking in a jurisdiction that has a good legislative framework is a start. And it’s critical to know what will happen to your money during the next recession.
Second, you need to know if your bank will safeguard your money during a financial crisis? And you also need to know if you can trust your bank with your money on a good day.
So, how can you find the best banking jurisdictions and the safest banks? And open accounts with them quickly and easily?
If you’re a GlobalBanks Insider, you already know the answer to the question. But if not, let me give you a head start…
To ensure you’re banking with the healthy and reliable banks you need the following:
#2. Account opening strategies that work for anyone, from any background, and any company or account type.
#3. And you’ll need to know how to keep the account open and not red-flag yourself or your account after its open.
To help you get started with this process, it’s important that you educate yourself on the options that are available to you. To do that, grab a copy of our free report Offshore Banking Secrets & Lies.
If you bank or do business internationally, knowing the truth about opening and maintaining offshore bank accounts can save you thousands of dollars and an incredible amount of time.
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