| Wednesday, 01-08-2014, 07:00 AM | (29 views)
In March of 2013, large banks in Cyprus were closed by the government and not reopened until depositors were deprived of up to 87 percent of their money on deposit. The reason was the banks had gambled recklessly and lost funds they held in trust for their depositors. This was not unexpected. Plans have been in effect for years in various countries to rescue “Systemically Important Financial Institutions” (SIFI’s) because their failure would supposedly be disastrous for national or international economies.
The term for such legally sanctioned robbery is “bail-in.” In 2008, American banks and their bankster executives were “bailed out” by the American taxpayers – along with a raft of other industries, including auto manufacturers and various mortgage servicing entities – under the “Troubled Asset Relief Program” (TARP) to a total amount of about $800 billion – billions of which have yet to be repaid. The banksters that drove these banks into the ground were rewarded with multi-million-dollar bonuses.
Central bankers and politicians recognize that American taxpayers are infuriated by these nefarious bailouts and have devised deceptive plans to rescue the SIFI’s by recapitalizing them. Where does the money come from to accomplish the salvation of these increasingly reckless financial gamblers? From you, the depositor! How can that be?!
It’s simple, really. Legally, when you deposit money in the bank, they can use it however they wish. Generally, they must keep only 10 percent on hand to meet withdrawal demands, betting that not all their depositors will come to withdraw their money at the same time. As a depositor you are considered the bank’s creditor and, along with the bank’s bondholders and shareholders, you are responsible for recapitalizing the troubled bank. In essence, your financial welfare is sacrificed for the welfare of the bank that recklessly gambled your wealth away! This arrangement is in effect NOW and has been MANDATED BY LAW in the United States! You will have no legal recourse if the banksters steal your money to save their own bacon! (To learn more, visit info.goldcore.com/what-savers-and-depositors-need-to-do-to-protect-their-savings-and-deposits-from-bank-bail-ins.)
What can you do?
1. Know your bank. I would never bank with one of the TARP banks, the biggest of which include: JP Morgan Chase, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, Morgan Stanley, PNC, U.S. Bancorp, SunTrust, and others. For a full list, see projects.propublica.org/bailout/list.
2. Keep only enough money in the bank to pay your bills. Keep the rest wherever you decide is safest.
3. Find other investments to protect your wealth – you are losing money due to inflation if you keep your nest egg in the bank, where it isn’t safe and is in danger of confiscation by “bail-in.”
4. Don’t trust the Federal Deposit Insurance Corporation to protect your money. FDIC has less than 1 percent of the funds that would be needed to insure bank deposits in the U.S.
If you find the above hard to believe, perhaps you have your head buried in the sand, ignorantly believing that such immoral activity cannot happen in America. But the extent of criminality in elite financial rulers is unprecedented, and these same banksters are buying the campaigns of your “elected” representatives and shunting their cronies into every branch of government, from the Securities and Exchange Commission to the U.S. Secretary of Treasury. Nothing short of a constitutional revolution will change this corrupt system.
If you don’t want to lose your wealth to corrupt bankers and government, be informed and take action to protect yourself. Don’t let the banksters and their government cronies enslave you by stealing your wealth and the liberty it provides you.
Written by Dr. Ralph Rohr
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