Someday someone will create a really effective scam. Last week we got a revenue Canada call. Unfortunatly this one was real.

Then there are legitimate scams where large banks accept deposits and because of safety regulations removed. Use far too much them in high risk senarios. Since 2008 If they get into enough trouble again. They can seize your deposits.

The normal deposit insurance does not protect you in those situations. Depositors in Greece lost thirty percent. I think our institutions in north America can and will do better if it comes to it. It is termed the bail in and it is real. Many developed countries have enacted it. My feeling is they may have not made it a law unless there is a chance of using it.

For example Trump and the administration asked the five largest banks to buy stocks to support the market reciently. If the bear market turns down really seriously guess who is going to pay? Or dance to the music? The chance does exist unfortunately. It to me is still remote at this time as a probability. Yet if the way China is doing things with so few of the general public even being aware.. The risk increases. Some of the runs on banks in other countries are not being even mentioned by the north America media either. This could be the scam of all time by irresponsible institutions. Other than wrecking the economy so bad with debt. As another one your assets become your liabilities.