“You should think about INSURANCE.”
So says the Australian Government…They will levy a 0.05% “insurance charge” against all bank accounts. Gonna raise $500 Million $ per year. It’ll be put is a “Financial Stability Fund” (much like the US FDIC….BUT here is the kicker: Until it is needed it will be used to “offset gross Debt”.
Plain and simple, it is a tax upon every citizen’s holding.
Watch the bank runs start. Watch already weak banks fail. Watch the “Johnny come latelies” who fail to withdraw their money early lose their savings.
Bet it’ll happen here too. And especially in Europe.
That Mason Jar in my Backyard is lookin’ more and more attractive every day. Or, I could invest in Precious metals (I prefer Copper, Brass, and Lead over Gold and Silver…..)