TOO Big to Fail has become that little bit smaller.

Video transcript:

Today is Wednesday 21st December 2016 and we are highlighting a latest news report which clearly shows us that the state of financial Institutions are such that they are all virtually too big to fail.

In our last video we highlighted the plight of the world’s oldest bank founded in 1472, Banca Monte dei Paschi and how it has until the end of the month to raise 5 Billion euros, without which, it would totally run out of money within 4 months. In fact, it is reported that it has only managed to raise 10% of what is required a paltry 500 million euros.

Well today, the Italian Parliament has approved a government plan for a possible €20bn bailout of its country's banks.

It is likely that the Italian Treasury will have to use some of this fund to rescue Monte dei Paschi, by the end of next week. The rescue fund will be used to prop up other banks as well.

Now the important aspect of today’s News report is this:

‘The new Italian Prime Minister, Paolo Gentiloni, has vowed not to let the bank fail, for fear that its collapse could topple the rest of Italy's heavily indebted banking sector. Failure of the bank would threaten the savings of thousands of Italian citizens.’

This is precisely the same argument the FED and the US Government put forward in bailing out some of its larger institutions as a result of the 2008 Crisis.

Be under no illusion whatsoever, Banks of any material size will not be allowed to fail – anywhere in the western World for fear of this contagion. Not to protect bankers and executives jobs, but because of the fear of the repercussions and the panic it will cause. Too Big to Fail – has become just that little bit smaller.

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Disclaimer:
Illuminati Silver owners come from a background of Banking, International Wealth Management and Economics. Having now retired from these worlds we are not qualified to give investment advice. Therefore, this and other productions must not be deemed to be giving such advice and merely represent the personal views of its owners.