Greedy politicians have learned how to raid pension funds and savings account to sate their endless lust to spend other people’s money, from Michael Snyder, The Economic Collapse blog,

Now that “bail-ins” have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again. In fact, Cyprus-style wealth confiscation is already starting to happen all around the world. As you will read about below, private pension funds were just raided by the government in Poland, and a “bail-in” is being organized for one of the largest banks in Italy. Unfortunately, this is just the beginning.

The antidote to government that raids private monies held in public institutions is keep your money in private places, like mattresses and mason jars. Anybody brighter than Andrew Cuomo economic prosperity is impossible without public trust in both the government and financial institutions.  No trust means no investment which leads to no generation of wealth.   A Cyprus style bail-in is a stop towards third world poverty.    Without investor deposits, there would be no banking system.