It’s bad enough that you don’t make any interest holding your money in a checking or savings account at the bank. But at least it’s safe, right? Not so much, as Federal Reserve Vice Chairman Stanley Fischer announced this month that instead of banks receiving bail-out money (from taxpayers) when they experience financial problems, they have now planned for a bail-in (by depositors and investors).
Wall Street banks are getting hit by cyber attacks every single minute of every single day. It is a massive onslaught that is not highly publicized because the bankers do not want to alarm the public. But as you will see below, one big Wall Street bank is spending 250 million dollars a year just by themselves to combat this growing problem.
Markets could soon face a fall of up to 60 percent, two experts told CNBC on Wednesday. A jolt to international confidence in central banks will lead to a 30 to 60 percent market decline, David Tice, president of Tice Capital and founder of the Prudent Bear Fund, told CNBC’s “Power Lunch.” When this happens, he said, markets will face a “period of extreme turmoil.
