RE: Thought Experiment: Coinbase Goes Bankrupt
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Bail ins are why the Europeans banks are in shit shape. They did not use bailouts like the US. Yes it was painful and everyone bitched but the toxic debt got off the books of the US banks. European banks? Nope much of it still there.
I laughed when I read they were stressed tested and passed. The NY banks wont take EU debt as collateral. What does that tell you?
So where is all the debt ending up? On the books of EU banks.
It only keeps getting worse.
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Maybe that's why they've cooked up their new scheme of using development bank monies to guarantee investors if the invest in green technologies and it doesn't work out they are guaranteed their money back. It gets worse. They use those same funds to bribe countries that need money to invest in the technologies of the investors. Countries have to commit to something related to the energy transition to get any funds. This way it keeps it off the books, it's already pre-allocated tax payers monies backing guarantees, no bail outs needed if they fail.