{"id":82190,"date":"2015-12-09T06:21:05","date_gmt":"2015-12-09T11:21:05","guid":{"rendered":"http:\/\/countingpips.com\/?p=82190"},"modified":"2015-12-09T06:21:05","modified_gmt":"2015-12-09T11:21:05","slug":"why-your-bank-deposits-may-be-at-risk","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2015\/12\/why-your-bank-deposits-may-be-at-risk\/","title":{"rendered":"Why Your Bank Deposits May Be at Risk"},"content":{"rendered":"<div id=\"inves-2399437141\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">December 9, 2015<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><h3 style=\"margin-top: 0px;\"><span style=\"font-size: small;\">Another financial crisis will bring widespread bank failures <\/span><\/h3>\n<h3 style=\"margin-top: 0px;\"><span style=\"font-size: small;\">By Elliott Wave International<\/span><\/h3>\n<p>Elliott Wave International&#8217;s July issue of <em>The Elliott Wave Theorist<\/em> reminds us why bank depositors need to prepare for the worst <b>before<\/b> a nation&#8217;s financial system is gripped by crisis:<\/p>\n<blockquote><p>You can&#8217;t wait until a monetary system collapses to protect your wealth. Just ask the Greeks. One day they were free to access all their savings at banks, and the next day the banks&#8217; doors were closed. Depositors&#8217; only relief was a dispensation allowing depositors to withdraw up to 60 euros a day.<\/p><\/blockquote>\n<p>You may be tempted to think that such a situation is unlikely to occur in Europe&#8217;s advanced economies like France, Great Britain and Germany.But another severe economic downturn could bring historic bank failures.<\/p>\n<p>Why? Because the banking system never fully recovered from the 2007-2009 financial crisis.<\/p>\n<p>Here&#8217;s a chart of three of Europe&#8217;s largest banks:<\/p>\n<p align=\"center\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.elliottwave.com\/images\/freeupdates\/image\/Forbigbanks.jpg\" alt=\"\" width=\"401\" height=\"743\" \/><\/p>\n<p>You can see that the stock prices of all three banks continue to languish.<\/p>\n<p>Here are some recent news items about major European banks:<\/p><div id=\"inves-3831858466\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<ul>\n<li>Standard Chartered Bank plans to cut 15,000 jobs and &#8220;reported a pretax loss of $139 million in the third quarter.&#8221; &#8212; (New York Times, Nov. 3)<\/li>\n<li>&#8220;Royal Bank of Scotland Group Plc, Britain&#8217;s biggest government-owned lender, said profit fell by more than half in the third-quarter.&#8221; &#8212; (Bloomberg, Oct. 30)<\/li>\n<li>&#8220;Deutsche Bank to shed 35,000 jobs, exit 10 countries&#8221; &#8212; (CNBC, Oct. 29)<\/li>\n<li>&#8220;Pre-tax earnings at Credit Suisse&#8217;s private banking and wealth management unit plunged 31%.&#8221; &#8212; (The Guardian, Oct. 21)<\/li>\n<\/ul>\n<p>In the U.S., Reuters reports that the falling value of loans to junk-rated companies could be a negative factor in fourth-quarter earnings for banks.<\/p>\n<p>Bankers must also grapple with the high cost of onerous regulations and huge fines imposed by the government.<\/p>\n<p>In 2014 alone, U.S. and European banks paid nearly $65 billion in penalties and fines, about 40% greater than 2013, according to the Wall Street Journal. Billions in bank fines have continued into 2015.<\/p>\n<p>Every bank depositor should read Elliott Wave International&#8217;s (EWI) FREE new special report: <strong><a href=\"http:\/\/www.elliottwave.com\/r.asp?acn=9cp&amp;rcn=aa580&amp;dy=aa120815&amp;url=http:\/\/beta.elliottwave.com\/Free-Reports\/Secret-New-Government-Tax\">&#8220;The Secret New Government Tax &#8212; UNVEILED.&#8221;<\/a><\/strong><\/p>\n<p>EWI&#8217;s U.S. and <i>European Financial Forecast<\/i> editors have teamed up to show you how the government is strong-arming big banks and squeezing out depositors&#8217; hard-earned money &#8212; under the guise of keeping it safe. See what the government is up to and take an important step toward making your money safer.<\/p>\n<p><a href=\"http:\/\/www.elliottwave.com\/r.asp?acn=9cp&amp;rcn=aa580&amp;dy=aa120815&amp;url=http:\/\/beta.elliottwave.com\/Free-Reports\/Secret-New-Government-Tax\"><strong>Follow this link to get your free report now &gt;&gt;<\/strong><\/a><\/p>\n<hr \/>\n<div>\n<p style=\"padding-top: 10px; border-top: solid 1px #CCCCCC;\"><em>This article was syndicated by Elliott Wave International and was originally published under the headline <a href=\"http:\/\/www.elliottwave.com\/r.asp?acn=9cp&amp;rcn=aa580&amp;dy=aa120815&amp;url=http:\/\/www.elliottwave.com\/freeupdates\/archives\/2015\/12\/03\/Why-Your-Bank-Deposits-May-Be-at-Risk.aspx\"><strong>Why Your Bank Deposits May Be at Risk<\/strong><\/a>. EWI is the world&#8217;s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.<\/em><\/p>\n<\/div>\n<p style=\"padding-top: 10px; border-top: solid 1px #CCCCCC;\">\n","protected":false},"excerpt":{"rendered":"<p>Another financial crisis will bring widespread bank failures By Elliott Wave International Elliott Wave International&#8217;s July issue of The Elliott Wave Theorist reminds us why bank depositors need to prepare for the worst before a nation&#8217;s financial system is gripped by crisis: You can&#8217;t wait until a monetary system collapses to protect your wealth. Just [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-82190","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82190","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=82190"}],"version-history":[{"count":2,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82190\/revisions"}],"predecessor-version":[{"id":82216,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/82190\/revisions\/82216"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=82190"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=82190"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=82190"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}