If the Bank goes bankrupt you legally forfeit the money in your account
Armed with Knowledge
You are not considered a DEPOSITOR, you are a CREDITOR. The money in your account is considered A LOAN to the bank. If they go bankrupt and if FDIC fails, you lose your money.
READ MORE…IF THE BANKS ARE INSOLVENT
Will FDIC keep protecting bank failures?
The existence of the “no depositor loss unless absolutely unavoidable” practice is quite evident by contrasting the FDIC’s failed-bank resolutions before the IndyMac failure with its resolution practices since then.
Of the 127 banks and thrifts that failed from Jan. 1, 1993, to the last bank that failed before IndyMac was closed, just 39 of those failures were resolved through a P&A transaction.
For the other 88 resolutions, uninsured depositors suffered a loss because only insured deposits were paid off in full or another bank purchased or otherwise assumed just the insured deposits of the failed bank, leaving the uninsured deposits behind, in the failed bank’s receivership.
From the perspective of deposits, 71% of the total deposits of the 127 failures were in institutions where uninsured depositors suffered a loss, while 29% of the deposits were in institutions resolved through a P&A that fully protected uninsured depositors from any loss whatsoever.
The post-IndyMac resolution experience has been starkly different. Since IndyMac, there have been 522 failures, excluding Washington Mutual. READ MORE….
The post If the Bank goes bankrupt you legally forfeit the money in your account appeared first on Vaccine Liberation Army.
Source: https://vaccineliberationarmy.com/2019/12/11/if-the-bank-goes-bankrupt-you-legally-forfeit-the-money-in-your-account/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).