Quote from: Bisha on May 09, 2015, 03:34:31 PM

I was watching an interesting video by Max Wright from BitShares and I would like to discuss the topic at matter.

When the 2008 real estate crash happened, the States bailed-out the banks. After a banking failure in Cyprus in 2013, the European Central Bank opted by a bail-in instead of a bail-out, meaning they would take the money away from the depositors. In the aftermath of Cyprus, Ben Bernanke, then Head of the Federal Reserve, said that if a 2008-style crisis occurred in America again, the bail-in model would most likely be used because of its success in Cyprus. The European Central Bank, the International Monetary Fund, the Australian Central Bank and the Canadian Central Bank echoed his sentiments as well. The
International Monetary Fund went so far as to publish a report saying that the key to its success is that Depositors did not see it coming.

Those business cycles they put us through are usually around 7 years on average. 2008 + 7 years = 2015. It might not happen in 2015, but a
correction is coming soon.

What do you think it will happen if this bail-in happens again in such crisis? People will loose all their savings on the banks. A life's worth of work will disappear without warning. What consequences could it have for everyone and for the world economy?

Same black swan event rarely repeated twice the same way.