World’s Oldest Bank Implements Bail In – Monte dei Paschi di Siena Wants Customers’ Money
Josh Sigurdson talks with author and economic analyst John Sneisen about Italian bank Monte dei Paschi di Siena’s bail-in implementation as shares plummet. The bank is Italy’s 3rd largest as well as the world’s oldest bank founded in 1472 in Siena, Italy.
While the bail-in is voluntary, it’s an obvious sign of the times. This is historic news considering the bank’s overall history. They’ve been through this before on several occasions, re-instituting and renaming after past crashes.
It once again goes back to the horrors of fiat currency and debt.
John Sneisen breaks down this complicated issue and the bank’s history.
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
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