“Frankly, I’m terrified of the implications of hyper-hypothecation, combined with the lax rules for segregated accounts. Not to mention that U.S. courts have placed their stamp of approval on the practice of U.S. financial institutions inter-mingling supposedly segregated client funds with their own to make risky bets with borrowed money. It means that your money isn’t safe in any U.S. financial institution. Nor am I confident that the situation offshore is any better, especially in a country like the United Kingdom, which permits re-hypothecation of 100% of collateral value placed in broker custody.”

https://nestmann.com/your-money-isnt-safe-in-any-u-s-financial-institution/

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