So-called "bail-ins," which give banks the right to dip into your savings to pay for their lousy financial decisions, have been on the table for years, ever since Cyprus tested the idea.
But they're moving beyond the "testing phase" now.
The latest clue came from a seemingly benign banking conference on December 2, when one man revealed some frightening central government intentions.
And anyone taking careful notes understands the consequences.
You see, the most direct impact will be felt by the biggest account holders. But the indirect impact will hit everyone
401(k)s... IRAs... Individual brokerage accounts...
The market will not like the newfound acceptance for bail-ins. And it won't get any warning - neither will we. Not from the mainstream financial outlets, anyway.
They're not even covering it.
First, here’s the frightening – and all-too-real – scenario…