Bail Outs? Nope. It will be a Bank Bail-in Using Your Money Held in their Bank
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Published 4 years ago
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If you have cash in a US bank, you can expect the federal government to take some of your money as payback or even all of it the next time US banks find themselves in trouble.
“Bail-ins are coming to North America without any doubt and will be remembered as the ‘Great Leveling,’ of the ‘great Flushing’. Not only can it happen here, but it will happen here…It stands on legal grounds by legal precedent both in the US, Canada, and the UK.”
Financial expert Michael Snyder adds, “When major banks fail, they are going to bail them out by grabbing the money that is in your bank accounts. This is going to absolutely shatter faith in the banking system and it is actually going to make it far more likely that we will see major bank failures all over the Western world.”
The private meeting was reportedly attended by officials from Wells Fargo & Company, Bank of America Corp, Citigroup Inc. and several other banks. The bail-in mechanism would be designed to place a greater burden on creditors, as opposed to the taxpayers (theft victims), in the event of a bank’s collapse.
The money becomes the banks and the “depositors” actually become unsecured creditors holding promises to pay. Previously the banks were obligated to pay back this loan on demand with cash. Under the new Federal Deposit Insurance Company – Bank of England (FDIC-BOE) plan revealed this year, however, these promises to pay become equity in the bank, which won’t be able to be used as payments for bills, which is why most people have money in the bank in the first place.
The point is that your money is not yours while it is “deposited” with a bank. And bail-ins are coming to shatter any illusion that they are for US depositors. Notice that banks are already setting up deposits for seizure. Despite the excuses of the likes of JPMorgan, the banks are indeed clamping down on outgoing international wire transfers and now putting in limits for withdrawal that they are closing the doors. Once doors are closed the federal government might do a bank holiday and bail in to make the banks “solvent” again.
Educate Yourself - Be Wise and Stay True to Yourself and Love One Another
“Bail-ins are coming to North America without any doubt and will be remembered as the ‘Great Leveling,’ of the ‘great Flushing’. Not only can it happen here, but it will happen here…It stands on legal grounds by legal precedent both in the US, Canada, and the UK.”
Financial expert Michael Snyder adds, “When major banks fail, they are going to bail them out by grabbing the money that is in your bank accounts. This is going to absolutely shatter faith in the banking system and it is actually going to make it far more likely that we will see major bank failures all over the Western world.”
The private meeting was reportedly attended by officials from Wells Fargo & Company, Bank of America Corp, Citigroup Inc. and several other banks. The bail-in mechanism would be designed to place a greater burden on creditors, as opposed to the taxpayers (theft victims), in the event of a bank’s collapse.
The money becomes the banks and the “depositors” actually become unsecured creditors holding promises to pay. Previously the banks were obligated to pay back this loan on demand with cash. Under the new Federal Deposit Insurance Company – Bank of England (FDIC-BOE) plan revealed this year, however, these promises to pay become equity in the bank, which won’t be able to be used as payments for bills, which is why most people have money in the bank in the first place.
The point is that your money is not yours while it is “deposited” with a bank. And bail-ins are coming to shatter any illusion that they are for US depositors. Notice that banks are already setting up deposits for seizure. Despite the excuses of the likes of JPMorgan, the banks are indeed clamping down on outgoing international wire transfers and now putting in limits for withdrawal that they are closing the doors. Once doors are closed the federal government might do a bank holiday and bail in to make the banks “solvent” again.
Educate Yourself - Be Wise and Stay True to Yourself and Love One Another
Keywords
cashfinancesbankscashless societydebs doodle and designsbank bail-outbank bail-inbanks too big to failfdicdeposits
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