So that’s why I keep looking at economics to affect the banking industry. Then people realize that you get nothing for having your money in a bank and when you put your money in a bank you’re a creditor.
- Eric Sprott via Ask the Expert
Thursday, August 14, 2014
You Get Nothing for Having Your Money in the Bank
If there’s no ability to pay back debt, then these very, very leveraged banks suffer catastrophic losses, because it takes so little decline in asset value the way that their capital. We’ve already seen a number of instances – we have the one in Portugal, I think we had one in Bulgaria, and there’s talk of some banks in Austria being in trouble – because of all the economic weakness that prevails pretty well throughout the world here.
So that’s why I keep looking at economics to affect the banking industry. Then people realize that you get nothing for having your money in a bank and when you put your money in a bank you’re a creditor.
So that’s why I keep looking at economics to affect the banking industry. Then people realize that you get nothing for having your money in a bank and when you put your money in a bank you’re a creditor.
