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Jan Skoyles: ECB study proposes ending bank deposit insurance
12:25p ET Tuesday, November 14, 2017
Dear Friend of GATA and Gold:
GoldCore's Jan Skoyles comments today on a study by the European Central Bank recommending that deposit insurance be eliminated at banks in Europe.
Skoyles concludes: "Savers should be looking for means in which they can keep their money within instant reach and their reach only. At this point physical, allocated, and segregated gold and silver comes to mind.
"This gives you outright legal ownership. There are no counterparties who can claim it is legally theirs (unlike with cash in the bank) or legislation that rules they get first dibs on it.
"Gold and silver are the financial insurance against bail-ins, political mismanagement, and overreaching government bodies. As each year goes by it becomes more pertinent than ever to protect yourself from such risks."
Skoyles commentary is headlined "Protect Your Savings with Gold: ECB Proposes End To Deposit Protection" and it's posted at GoldCore here:
http://www.goldcore.com/us/gold-blog/protect-savings-gold-ecb-propose-en...
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
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