Many Americans don’t realize the money in their bank accounts may not be as safe as they think.
Due to a little-known 2010 law called Dodd-Frank, banks can now legally use customer deposits to bail themselves out if they face failure.
This is known as a “bail-in.” With high inflation, a housing bubble, and massive government spending, some experts warn we could be headed for another major recession. If that happens, banks may turn to their depositors’ savings rather than the government for a bailout.
Just look at what happened in Cyprus and Lebanon – bail-ins wiped out people’s life savings. So how can you protect your money?
Precious metals like gold and silver offer a safe haven. There is actually a completely legal IRS-approved loophole that allows you to move part of your IRA or 401k into gold and silver with no tax penalties.
Financial turmoil could strike at any time, so it’s crucial to act quickly to shield your hard-earned money.
Don’t leave your nest egg vulnerable – find out here how to protect your savings.
