Most people don't know it, but a bank depositor (someone with a checking or savings account) is an unsecured creditor to the bank.
If a bank or brokerage goes bust, unsecured depositors are some of the last creditors in line with very little sway in legal proceedings (think MF Global account holders).
Bank bail-ins have already occurred in countries like Cyprus.
Listen to what experts Mike Maloney and Rick Rule (of Sprott Global) had to say when asked...
- Source: James Anderson of Mike Maloney's Gold Silver.com