by Mark O’Byrne, GoldCore:
The Italian banking system looks vulnerable to collapse whether the referendum is passed in Italy or not. Were the referendum passed, it may allow senior Italian and international bankers to further ‘kick the can down the road’ and delay the inevitable.
Financial and economic contagion in the EU is the likely outcome of the financial and political mess that both Italy and other EU states find themselves in. The question is increasingly not if, but when.
Bail-ins are “now the rule” and depositors need to begin preparing by diversifying and not have all their ‘saving eggs’ in the ‘bankers basket’.
An important way to protect investments and savings is to be diversified and have a healthy allocation to physical gold – both in one’s possession and in secure storage, in the safest vaults in the world.
Read full Financial Times article on Irish Times here
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