Banks Can Now Confiscate 80% of Your Bank Deposits! Find Out the Most Vulnerable Bank ...
“So, you are going to have to save yourselves, and the way you are going to have to do it is by bailing in the money of your creditors. The largest class of creditors of any bank is the depositors.”
There was no possibility that the FDIC could take on the rescue of a Citigroup or Bank of America when the full-fledged financial crisis broke in the fall of that year and threatened the solvency of even the biggest banks.”
That was, in fact, the reason the US Treasury and the Federal Reserve had to step in to bail out the banks: the FDIC wasn’t up to the task. The 2010 Dodd-Frank Act was supposed to ensure that this never happened again. But as USA writes, there are “numerous skeptics that the FDIC or any regulator can actually manage this, especially in the heat of a crisis when many banks are threatened at once.”
“The G-20 met recently in Australia to make new banking rules for the next financial calamity. Financial reform advocate Ellen Brown says these new rules will allow banks to take money from depositors and pensioners globally.”
Brown explains, “It became rules we agreed to actually implement. There was no treaty, and Congress didn’t agree to all this. They use words so that it’s not obvious to tell what they have done, but what they did was say, basically, that we, the governments, are no longer going to be responsible for bailing out the big banks. These are about 30 international banks.”
Part of the coming financial calamity will involve hundreds of trillions of dollars in un-backed derivatives. Brown contends, “If the derivative bubble pops, nobody knows what is going to happen, and it’s obvious it has to pop. It can’t just keep growing. Depending on who you read, some people say it is up to two quadrillion dollars. It’s virtual money, and it cannot keep going on.”
When a financial crash does happen, you can forget about getting immediate access to your money. Brown says, “The banks will say, well, we don’t have it. All the money goes into one big pool since Glass Steagall was repealed. They are allowed to gamble with that money and that’s what they do.
So, even though we are protected by the FDIC, the FDIC is not going to have the money. . . . This makes it legal for these big 30 banks to take our money when they become insolvent.
FDIC Deposit Insurance Fund
It is not clear the FDIC will even be able to borrow from the Treasury, but even if they could, who is going to pay that money back? Let’s say they borrowed $1 trillion. Who is going to pay that $1 trillion back? It will bankrupt all the small banks that had to contribute to this premium.
They will say we’re raising your premium to everything you got, basically. Little banks will go out of business, and who is going to survive–the big banks. . . . What we’re going to have left is five big banks, and everybody else is going to be bankrupt.”
The Low Amount of FDIC Insurance
There are not enough dollars circulating to cover all deposits if they were to be pulled at the same time. In case of bank runs this means withdrawal limits at ATMs and FDIC trying to help out to cover the losses.
The Most Vulnerable Bank is…
There is so much MORE…read the rest of the story here….
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Gold, Mrs. GramsGold, GOLD!!
You want a HUGE return on your worthless cash investment…guaranteed? The number “1″ return on your dollar are Guns!
I never could figure out why people would put paper with numbers on it into a bank which is operated by crooks in the first place. Do they not always say that when a bank gets robbed it is an inside job? Hey, just and observation so how inside can one get LOL.
Good article. I have tried to discuss this issue with family members and friends and they look at me like I have three eyes. Also look up the FDIC/Bank of England (Rothschild owned) agreement from December of 2012. It also sets up the protection of the big banks at the expense of we normal folks. Are bank deposits are referred to as ‘unsecured debt’ in the document. Then, as you aptly mentioned, the Dodd-Frank Act actually protects the banks over us. Finally, the current spending bill passing through Congress further puts us on the hook for the gambling in the derivatives markets by the mega banks. You see, those serving in Congress- especially those on the banking and finance committees, know who their real masters are. They are not the American taxpayers.
One final thought: I think that this sudden and dramatic drop in oil prices will upset the over one Quadrillion dollar derivatives market. Some big bank somewhere has hedged the wrong way on this deal. If the falling oil prices continue, they will not be able to come up with enough capital to cover their expiring contracts and losses. Given that most of the world’s derivatives contracts initiate from the Big Five U.S. banks, we here in America will witness a quick and devastating ‘bail in’ and millions will see their savings evaporate overnight to cover the banking shortfalls. It could happen in a day, a week or in a few months.
We have taken our cash out of the bank. Why leave it in there when it doesn’t really draw any interest? Some European institutions are now charging depositors to keep money in their banks. That will probably begin in the U.S. soon. Gold and silver are always viable options as well. They have been worth something since near the beginning of man’s existence on this planet.
I say take all the American money and give it to the poor.
Then lock the borders, Americans cannot get out.
Kill the internet.
Open demand gas chamber camps, pull the switch and start gassing.
America MUST be taught a lesson for all the innocent woman and children killed during wars.
Nope won’t happen the Americans people armed. But you are wrong for blaming the people for the wars and deaths of innocents. Blame the big fish that control the big banks, media and the politicians that they have bought over the years. They are the ones that are to blame.
Take your money out of the ig banks , put it in a cashiers check and hide it in your house, you can not trust the banks any longer.
Put it in gold and silver. A cashiers check is just a piece of paper when the banks fail there will be nowhere to cash it. Besides, there may be no such thing as cash then anyway. Store food and water, guns and ammo, and then some gold and silver, or precious gems. You need tangible assets, not paper promises….
The Unregulated Global Casino for Banks!
http://demonocracy.info/infographics/usa/derivatives/bank_exposure.html
All you gotta do is look at Cyprus. If you had 100,000 Euros or less they only took 10% but if you had over 100,000 Euros they took 40%. [cringe] Then look at all the private pension funds they nationalised in Poland, CZ, and Hungary. It’s a horror show.
FDIC is like the fire department. If one house starts burning, or two or three they can put those fires out. But what do they do when half the city is on fire? FDIC is technically insolvent because all it would take is for just ONE of those top 30 financial institutions to go under, and all those depositors wipe their eyes.
The fact that a US bank can use its customers’ funds to pay for its gambling losses in the over-leveraged derivatives market/casino was sanctioned by the 9th circuit court of appeals in that Chicago case, and that whole MF Global incident where they stole 6 billion Dollars to do just that.
At this point the only balance you should have at any bank is a debit balance, which, once the USD goes to wallpaper you can pay off with the equivalent of pocket change in today’s Silver or Gold. Just like the smart people did in Weimar in 1922/1923 who were smart enought to either have debts or actually take out loans during the hyperinflation. It was the savers that got beaten. Like the old man who saved up 100,000 Marks in an annuity, then took that nest egg and bought a loaf of bread with it.
Some people have asked me: “well, what do I do if I live on a fixed income, and it ain’t that high” and who think they can’t afford Gold. To which I say buy Silver. Or even copper pipes or cables. Pretty much any saleable (fungible) real commodity is good. Doesn’t have to even be a metal. Coal is good, or even wood. As luck would have it, the winter of 1922/23 was a pretty bad one and rich people were trading their Silver antiques for buckets of coal, and food. So who knows, you might even make out better than buying Gold.
Which reminds me: wouldn’t it be interesting if Cypress Hill actually did a concert in Cyprus?
Banks cannot confiscate anything if you do not have any money in the bank, or what you call money/paper it can also do that with your safety deposit box, OVER.
Exactly. Couldn’t agree with you more. I’ve heard of people in the US having their safe deposit boxes raided as part of a FISA maneuver. Furthermore, if you HAVE a safe deposit box, then they KNOW there’s something valuable in there. If I had 100 million Dollars worth of Gold, it would actually be safer in a tent in my backyard, provided, of course, that nobody knows I have 100 million Dollars in that tent.
What most people don’t realise is that none of this is happening by happenstance and that all of it was planned that way. Check out my post below. You’re absolutely right about the bail-in scenario.
I have a book titled “Second International Thrift Congress” published by the International Thrift Institute in Milan in 1930. It’s the minutes of a big meeting of bankers from all over the world that was held between 7-11 October 1929. In it, they pretty much spelled out exactly how they would engineer the crash that occurred on 29 October that same year. It’s proof positive that this was an orchestrated event. If they did it then, they’re doing it now.
Pravda Vitezi.
Sorry that was meant as a reply to the post by “The Truth Wins”
There’s currently only ONE copy of the book I mention available in the whole world. Some guy in the UK, who posted it to 5 different sites: Alibris, AbeBooks, Biblio, Biblio.co.uk, and Antiqbook. He’s selling it for USD 93.13 – USD 105.72, but I’ll bet you that if you were to actually order it from him he probably doesn’t have it.