U.S. Banks Just Made This 'Little' Change to Savings Accounts While Nobody Was Watching
Feb 26, 2015 08:43:58 #
Forget Bail-Outs... During the Next Financial Crisis, Banks May Take Money Straight Out of Your Checking and Savings Accounts... Here's How...
You remember 2008, right? The last time big banks got into trouble, they turned to the government and got billion-dollar bail-outs at the expense of taxpayers (you and me).
Of course, nobody wants that to happen again, so banks have come up with a new plan.
One problem: The new plan is MUCH WORSE than their old plan, and could trigger a complete economic meltdown. Here's why...
Last year the G20 quietly enacted new banking rules. Now, your savings in banks may no longer be considered a "deposit" and instead a "debt" that the bank owes you.
These Word Games Will Have Devastating Consequences...
Simply put, these word games could mean you're no longer a DEPOSITOR... you could actually be considered a CREDITOR of the bank.
Now, if a bank runs into trouble, it may try to freeze your accounts and take your money, and you'd simply be added to the long list of creditors who would have to use tedious legal processes to try to get their money back.
Forget about FDIC insurance. They have only $1 for every $120 deposited in a bank not nearly enough to deal with any kind of financial crisis.
I know this all sounds a little bit crazy, but don't forget this already happened in Cyprus in 2013. Bank accounts were frozen for two weeks, and ultimately, many depositors lost more than 40% of their deposits. They never got their money back and they never will.
Why Were These New Banking Rules Passed Now Instead of Later? The G20 didn't adopt these new rules for a crisis far in the future. Banks are again on the brink, and these rules were needed to protect the ones that are "systemically important."
The only question now: When is the next financial crisis going to happen? Because when it hits, your bank account could vanish never to be seen again.
You remember 2008, right? The last time big banks got into trouble, they turned to the government and got billion-dollar bail-outs at the expense of taxpayers (you and me).
Of course, nobody wants that to happen again, so banks have come up with a new plan.
One problem: The new plan is MUCH WORSE than their old plan, and could trigger a complete economic meltdown. Here's why...
Last year the G20 quietly enacted new banking rules. Now, your savings in banks may no longer be considered a "deposit" and instead a "debt" that the bank owes you.
These Word Games Will Have Devastating Consequences...
Simply put, these word games could mean you're no longer a DEPOSITOR... you could actually be considered a CREDITOR of the bank.
Now, if a bank runs into trouble, it may try to freeze your accounts and take your money, and you'd simply be added to the long list of creditors who would have to use tedious legal processes to try to get their money back.
Forget about FDIC insurance. They have only $1 for every $120 deposited in a bank not nearly enough to deal with any kind of financial crisis.
I know this all sounds a little bit crazy, but don't forget this already happened in Cyprus in 2013. Bank accounts were frozen for two weeks, and ultimately, many depositors lost more than 40% of their deposits. They never got their money back and they never will.
Why Were These New Banking Rules Passed Now Instead of Later? The G20 didn't adopt these new rules for a crisis far in the future. Banks are again on the brink, and these rules were needed to protect the ones that are "systemically important."
The only question now: When is the next financial crisis going to happen? Because when it hits, your bank account could vanish never to be seen again.
Feb 27, 2015 09:21:09 #
greyfox
Loc: western mass.
mwdegutis wrote:
Forget Bail-Outs... During the Next Financial Cris... (show quote)
How do they have this power and did the Congress pass any law to give itto them????
Feb 27, 2015 23:16:03 #
greyfox wrote:
How do they have this power and did the Congress pass any law to give itto them????
Bankers MAKE THE LAW,, they OWN congress and the president!
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