In Australia our bank deposits are guaranteed up to $250k in the event of a "bank failure". That means the bank is bankrupt. But !!! Prior to bankruptcy the distressed bank can legally under our laws, bail in our deposits. The cash deposit scheme is a fraud. Of cause the distressed bank is going to bail in with your deposits before total collapse. So under Australian law they can do this and if they do do that the deposit insurance scheme does not apply because the bank hasn't gone bankrupt for the deposit insurance scheme to activate. Govt and banks, thick as thieves!
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