Everyone remembers the great real estate crisis of 2008 in America. Because of the toxic products that were based on mortgages, pretty much the banking world collapsed. There wasn't a single bank around the world that didn't own CDOs. CDO stands for collateralized debt obligation. Here thousands of mortgages were poured into a bond and sold as a triple A product. Due to the high demand, loans were issued to people who could never pay them back. When interest rates were raised, the sky was the limit. Defaults increased to such an extent that these CDOs became worthless and everything collapsed like a house of cards.
Banks around the world faltered and some effectively collapsed. The crisis spread across our planet and one thing led to another. For example, it resulted in a real sovereign debt crisis in Greece. Also one of the big victims was Cyprus. While everywhere a Bailout was implemented to keep the banks straight this was not enough for Cyprus. A bailout means that the tax money is used to prevent worse and support the crisis. In Cyprus this fell short so a new measure was implemented, namely the bail-in. This means that, for example, shares and bonds are confiscated as well as everything above 100,000 euros. This played out in 2013 with the promise that this was a one-off nothing. You have to know that a huge number of sportsmen and mafia from all over the world had accounts there because Cyprus was one of the tax havens. A huge number of people lost a huge amount of money. Although it was promised that this was a one-time thing a law was voted in January 2016 that this was one of the possibilities in the future in case of future crises. In other words, your money is no longer safe. There is a state guarantee that secures 100,000€ but that amount can be adjusted as desired so in other words nothing is safe in the bank anymore. All the more reason to convert everything into Crypto.
What is happening now in China looks frighteningly similar. In April, in the Henan branch of the bank of China, accounts were blocked so to speak because an update to the system was needed. Months later, the money was still not released. The bank distributed the statement that all people's money is now seen as invested money. Everyone now has shares in the bank, so to speak, and can no longer get their money. Of course there were big protests, it went so hard that the aforementioned banks were protected with government tanks. A bail-in pur sang so to speak.
Now you may think that this is a far cry from my bed but Kristalina Georgieva of the IMF warns of a new sovereign debt crisis. Developing countries are about $250 billion in debt and defaults are increasing. The war in Ukraine and record inflation both in Europe and America are also creating a grim atmosphere. The decline of the Euro is also a result of this. When everything will actually explode is still hard to say but it probably won't be that long. It is more than time to prepare for it.
What you can effectively do to protect your capital is to invest your money in precious metals such as gold and silver as well as in crypto. The latter is a very volatile market but at least you have control over your money. No one can freeze or confiscate your money. So think about it and make the right decisions. Do not rely on your bank anymore but on these alternatives. Only then will you have a chance to survive the future storm.