As the global economy sits ready to implode, the World’s elite are preparing to steal the bank accounts and all other financial assets of every citizen in all modern nations.
Going, Going, Almost Gone!!!
It has never been more important to get your money out of the bank than it is today. Bank bail-in are coming to America. As of June 3, 2015, the European Commission has ordered 11 EU countries to enact what is called “The Bank Recovery and Resolution Directive (BRRD)” within the next 60 days or be taken before the European Union Court of Justice for failure to comply with the new directive.
Just in case you have not heard the latest, all current bail-in legislation contains the goal of placing the burden on creditors when banks collapse. This means that when the banks crash, you are not getting your money back. The FDIC’s only purpose, today, is to protect as many of the assets of the elite as possible. This is a dangerous trend for all bank account holders as evidenced by the fact that Austria brazenly abolished all bank deposit guarantees in April. In our hemisphere, Canada passed bail-in laws last year. In fact, the UK, the U.S., Australia and New Zealand all have plans for bail-ins in the event of banks and other financial institutions begin to fail.
Will the United States Be Next?
As for the United States, templates have been put in place. The plan is that your deposit will no longer be classified as an asset. Instead, you’ll be treated as an “unsecured creditor”. Keep that in mind as we approach the next economic downturn.
In 2013, I was roundly criticized when I said the Cyprus scenario is coming here. I was told there would be a revolution if this happened and the government would be to afraid to try such a thing. I marvel at people who hold to such naive beliefs. The American people have been through several beta tests related to our private wealth being confiscated and no resistance was offered (e.g. MF Global). Let’s take a look and see if my fears, of two years ago, were unfounded.
The Seventh Circuit Court of Appeals of Illinois
On August 9, 2012, the 7th Circuit Court of Appeals (CCA) of Illinois ruled that when you deposit your money into the bank, you no longer “own” that money. Further, the 7th CCA ruled that it is now permissible for your bank to comingle their assets with yours. That does not bode well for getting your money back in the event of a bank failure.
The G20 Nations Brazenly Declares That They Own Your Bank Account
On November 16, 2014, it was revealed that when you awakened, a new G20 policy was enacted which effectively stole your bank account. For the time being, you still have some access to some of your money. If you have $100,000 in the bank, try taking that money out today and see how fast the Federal authorities show up in your life. And if you did manage to get your money out of the bank, don’t forget about the cop on the corner poised to steal your money under the banner of “civilian asset forfeiture”. Pardon me, I digress.
All nations belonging to the G20 will immediately submit and pass legislation that will fulfill a new investment program. This new program creates a whole new paradigm and set of rules whereby banks will no longer recognize your deposits as money.
Russell Napier is declared November 16, 2015, as “the day money dies,” and according to Zero Hedge, Napier says the G-20 will announce “that bank deposits are just part of commercial banks’capital structure, and also that they are far from the most senior portion of that structure.” Pay close attention America this means that following a bank failure, “a bank deposit is no longer money in the way a banknote is.”
This G20 legislation will formally push down bank accounts through the capital structure to a position of being mere material capital risk in any ‘failing’ institution. In our last financial crisis, deposits were de facto guaranteed by the state, but beginning November 16, 2014 holders of large-scale deposits will be just another creditor fighting to regain their share of the assets of a failed bank,” according to Zero Hedge. And how much will your former money be worth when you come to make your claim? For reasons that will become apparent as you weave your way through this article and its conclusions, if you have $100,000 in a bank account, you will take home under $1200! This is why for the past 18 months I have been telling the nation to not deposit your paycheck into the bank. The prudent thing to do is to only put enough money in the bank to pay your basic bills and do other things with the remainder of the money, such as pay off your mortgage or pay off your car loans. If you have not been doing this, then you are almost out of time for the banksters have recently practiced how to steal your bank account.
The Federal Reserve and the Bank of England Have Already Rehearsed the Theft of Your Bank Account
The theft of the people’s money has already been rehearsed by the powers that be in the banking industry. Regulators from the United States and the United Kingdom got together in a war room to see how they will cope when the next big bank fails.
Treasury Secretary Jack Lew and the UK’s Chancellor of the Exchequer, George Osborne, on November 10, 2014, ran a joint exercise simulating how they would prop up a large bank (e.g. Bank of America) with operations in both countries that has landed itself in trouble. Also taking part in the “bank failure drill” was Federal Reserve Chair Janet Yellen and Bank of England Governor Mark Carney, and the heads of a large number of other regulators, in a meeting hosted by the U.S. Federal Deposit Insurance Corporation. Just like Jade Helm, if there were not going to do this, then why would they be committing so many resources to practicing to do it?
The FDIC has only about $25 billion in its deposit insurance fund, which is mandated by law to keep a balance equivalent to only1.15% of insured deposits.
If a banking collapse were to be on the near horizon, the banksters are not going to notify you because they would not want to incite a bank run. With only 1.15% of all deposits being insured by the FDIC, your money would be left vulnerable and only the elite would be warned as they quietly transfer their money to a safer haven, such as gold. This is why I previously recommended that every person adopt the “when in Rome, do as the Romans do” and buy gold from places such as Renaissance Precious Metals. Or, you could just leave your money in the bank and let the elite steal it.
Enter Jade Helm
As the most massive military exercise since World
War II is under way, one might astutely wonder, what does Jade Helm have to do with a banking collapse?
When the line of angry bank depositors stretches for blocks as they attempt, in vain, to get their money back, who will be there to protect the bankers who have perpetrated this grand theft of our bank accounts? Mark my words, Jade Helm or its successor will be poised to spring into action when the economy fails.
As the American economy sits poised to collapse, thanks in part to our $18 trillion dollar deficit, out $240 trillion dollar unfunded liabilities (e.g. Medicare, Social Security, etc.), and the $1.5 quadrillion credit swap derivatives debt, it makes sense that your bank account, your retirement, your IRA and your home mortgage is going to subsidize the bankster’s golden parachute as the global economy goes up in flames. This will be the topic of tomorrow’s article followed by an analysis of how to liberate your bank account without going to prison in a subsequent article.