This can happen to all of us ??
(media.greatawakening.win)
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So what? There is less than 1% of assets in those insurance programs, and the insurance does not apply if there is a "bail-in" like what happend in Cyprus.
Go local, that's a good idea, but don't rely on "insurance" that doesn't really mean much.
The insurance can not be offered without meeting very strict, consumer friendly, regulations.
Those regulations guarantee a lot more than the insurance provides.