If there were ever any doubt about how completely RIGGED the banking system is against depositors, allow me to introduce the following:
Exhibit A: Governments are working to make banks LESS safe
Yesterday an unelected bureaucrat that no one has ever heard of made a stunning announcement that has sweeping implications for anyone with a bank account.
Dombrovskis is Europe’s top financial services official, so he controls bank regulations in the European Union.
He issued a stern warning to global bank regulators yesterday that he is prepared to reject any further plans they might have to tighten bank capital requirements.
This might sound rather dry, but it’s incredibly important.
“Bank capital” is the most critical component of any bank balance sheet.
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