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How the Banks Will Steal Your Money In the Coming Economic Crash

 Wells Fargo has been fined more than 12 bllion dollars   for over 80 federal violations of banking law ranging from mortgage abuses, consumer protection violations, price fixing and violation of anti-trust laws, and a breach of trust with its investors resulting in fines for investor violations.

Wells Fargo has committed another violation of law ad this time it has to with an extreme violation of the First Amendment. Nikki Fried (D) is running for the elected position of Florida Commissioner of Agriculture and Consumer Services. Previously, Fried worked as a lobbyist for medical cannabis. Wells Fargo, my vote for the worst bank in America, is on the record as opposing medical marijuana. This personal opinion on the part of Wells Fargo management led to the bank to shut down the personal account of Fried in an extreme act of censorship. On the surface, this incident appears to represent just another extreme leftist plot to silence those that they disagree with. However, as I began to research on this topic, I discovered that the banking crisis in this country is at a crisis level and the majority of large banking chains are in very deep financial trouble. As my daddy used to say “poop rolls downhill”. This refers to the fact that the banks are not going to suffer in isolation. As a result of the current banking crisis, every account holder in America is going to be dramatically impacted. The extent of the crisis may lead many of us to refer to 1929 as the good old days.

From The Wall Street Journal (February, 2018):

Banks are closing branches at the fastest pace in decades, as they leave less profitable regions and fewer customers use tellers for routine transactions.

The number of branches in the U.S. shrank by more than 1,700 in the 12 months ended in June 2017, the biggest decline on record, according to a Wall Street Journal analysis of federal data.

According to a an article written by Tom Lewis via GoldTelegraph.comeven the small nation of Kyrgyzstan has plansKyrgyzstan is stockpiling gold. The nation is going It to increase gold holdings from 16% to 50% as part of its international reserve holdings. it seems that everyone is running away from central bank style fiat currency.

China is hording gold. The Russians have dumped US Treasuries in favor of hording gold. The American elite are hording gold. Kim dot Com says to ditch the dollar and embrace cryptocurrency.

Even the Wyoming state government is paving the way to leave the dollar behind. Wyoming is waving all transfer fees on cryptocurrency transactions.

International hackers are making banks an unsafe place to house your currency.

All of this adds up to one conclusion. the banks are deep trouble and so is your money.

Is It Time to Your Money In the Mattress?

The simple solution would seem to be to take one’s money out this failing system which is characterized by corruption.

Before you rush to your bank to pull out your money, every bank account holder needs to realize that according to our court system, once you deposit money into a bank, the banks now own your money. Basically, no interest is paid on hard earned cash that you put in the bank. Also, due to inflation, the longer you keep your money in the bank the less it will be worth.

Further, the laws for withdrawing what used to be your money from the bank, protect the banks and make it nearly impossible to get your money out of the bank and if you do it wrong, you could go to prison for a very long time.

Times Have Changed

Taking what was your money out of the bank is no longer a matter of walking up to your friendly teller with a withdrawal slip and the teller cheerfully honors your request and you calmly exit the bank with your money in tow. In fact, your teller is trained to look for certain indicators in any cash withdrawal of any significance.

As you move to withdraw the bulk of your money, there are three federal banking laws that you should be cognizant of, namely, Cash Transaction Report (CTR), a Suspicious Activity Report (SAR) and structuring. Before proceeding with the planed withdrawal of your money, I would strongly suggest that you read the following federal guidelines as it relates to CTR’s as produced by the The Financial Crimes Enforcement Network (FinCEN). All the federal regulations contained in this article are elucidated in this series of federal reports.

Before withdrawing your money, please be aware of these three regulations related to getting your money out of the bank.

CTR

Federal law requires that the bank file a report based upon any withdrawal or deposit of $10,000 or more on any single given day.The law was designed to put a damper on money laundering, sophisticated counterfeiting and other federal crimes.

To remain in compliance with the law, financial institutions must obtain personal identification, information about the transaction and the social security number of the person conducting the transaction.

Technically, there is no federal law prohibiting the use of large amounts of cash. However, a CTR must be filed in ALL cases of cash transaction regardless of the reason underlying the transaction. This means your cash transaction will be on the radar.

Structuring and SAR

There will undoubtedly be some geniuses whose math ability will tell them that all they have to do is to withdraw $9,999.99 and the bank and its protector, the federal government will be none the wiser. It is not quite that simple. Here are a few examples of structuring violations that one should be aware of:

1. Barry S. has obtained $15,000 in cash he obtained from selling his truck. He knows that if he deposits $15,000 in cash, his financial institution will be required to file a CTR. Instead he deposits $7,500 in cash in the morning with one financial institution employee and comes back to the financial institution later in the day to another employee to deposit the remaining $7,500, hoping to evade the CTR reporting requirement. Barry should have used multiple accounts to conduct this transaction.
2. Hillary C. needs $16,000 in cash to pay for supplies for her arts and crafts business. Hillary cashes an $8,000 personal check at a financial institution on a Monday. She subsequently cashes another $8,000 personal check at the bank the following day. Hillary is careful to have cashed the two checks on different days and structured the transactions in an attempt to evade the CTR reporting requirement. Hillary should have made irregular deposits on staggered days covering a significant period of time. Or better, yet she should convert her soon worthless cash to precious metals.
3. A married couple, Bill and Hillary, sell a vehicle for $12,000 in cash. To evade the CTR reporting requirement, Bill and Hillary structure their transactions using different accounts. Bill deposits $8,000 of that money into his and Hillary’s joint account in the morning. Later that day, Hillary deposits $1,500 into the joint account, then $2,500 into her sister’s account, which is later transferred to Bill and Hillary’s joint account at the same bank. Again, Bill and Hillary should have used multiple banks.
The aggregate total of the three transactions totals more than the $10,000 threshold, therefore, a SAR would be filed by the bank and you would be the subject of a federal investigation as all three of the above cases clearly violate the federal banking laws related to structuring. It is a federal crime to break up transactions into smaller amounts for the purpose of evading the CTR reporting requirement. In these instances, the bank is required to file a SAR which serves to notify the federal government of an individual’s attempt to structure deposits or withdrawals by circumventing the $10,000 reporting requirement.

Structuring transactions to prevent a CTR from being reported can result in imprisonment for not more than five years and/or a fine of up to $250,000. If structuring involves more than $100,000 in a twelve month period or is performed while violating another law of the federal government, the penalty is doubled.  

Enforcement


Much like the enforcement of our tax laws, the federal government’s enforcement of its banking lawsas it relates to CTR’s, SAR’s and subsequent structuring is quite draconian. Civilian asset forfeiture laws come into play. The government can seize your bank accounts while it determines if a crime has been committed. The government can literally seize your assets in perpetuity without an order of the court. Of course, you could try and sue but you will be up against the deep pockets of the federal government and the case could take years. By the time your case is decided, the financial banking crisis that you are so desperately trying to avoid by withdrawing your money, could be over.  So, proceed with caution.

If you ever become the target of a federal investigation, do not, under any circumstances, allow yourself to be interviewed by federal officials without an attorney present and make sure you have the interview videotaped.

In many cases, people go to jail and pay huge fines, not because they have committed a federal crime, but because federal officials state that they have lied or misled them. And if you do not have an attorney present, it is your word versus the federal government. This is how the federal government sent Martha Stewart to prison.

What to Do

The best way to avoid getting your money caught in the bank in the midst of a bank run would be to not let the lion’s share of your money ever cross the bank. Do not allow your employer to direct deposit your check to the bank. Keep some cash at home by taking out a large portion of the money you receive from your employer. Don’t put cash in a safety box because the courts have also ruled that the banks own your safety boxes.

Use electronic transfers to buy into a mutual funds and also use checks to buy silver coins.

Open multiple banking accounts ranging from the big five megabanks to your local credit unions. You could withdraw much smaller amounts until the sum total of your accounts is greatly diminished and is in your possession. Even though the banks “talk” to each other, if the withdrawals are irregular, it is hard to track and substantiate a pattern in court. To open the accounts, simply write a personal check from your home bank. Of course, in these cases, the bank could hold the check for 15-30 days.

Use checks and cash to pay all of your debts. Your want to lower your debt load while unloading your soon to be worthless cash.

Prepay your taxes and some other obligations with checks. Make sure you only pay safe entities. Your local government is not going to disappear, even in a depression. Therefore, you can prepay property taxes. Should you lose the ability to pay your property tax, the government will seize your property for nonpayment.

There will be a post-collapse America, therefore, purchase gold and silver as well as cryptocurrency Gold and silver (see Steve Quayle’s Precious Metals ad below) will be accepted mediums of exchange. Write checks to purchase gold and silver. However, collect the actual silver and gold because if you cannot touch it, you do not own it!

Find a safer bank than the mega banks. Use credit unions as they are one level removed from the Federal Reserve.

There will be survivors from the coming economic collapse. Those that convert their soon to be worthless cash to precious metals will have the best chance to financially survive what is coming.

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By | 2018-08-22T04:56:03+00:00 August 22nd, 2018|Featured, Main, United States|5 Comments

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5 Comments

  1. Wb August 22, 2018 at 5:15 am

    Democrats have nothing to worry about. They will be taken care of. Republicans and conservatives will not. Your money will be gone and you will have no recourse. The left controls the law and they will be exempt. Just as you are losing your free speech and gun rights you will lose your money. The other side recognizes you are all talk and will simply disregard your dissatisfaction. After all, what are you going to do about it?

  2. Vietkonggook August 22, 2018 at 2:37 pm

    Food, water, guns, ammo, survival food, seeds, gold and silver. ANd most important is get right with God Almighty.

  3. Vietkonggook August 22, 2018 at 2:48 pm

    Economic collapse means govt will undoubtedly declare martial law. Gun confiscation follows. Then asset forfeitures by banks comes in. Many will go out of their mind as they are deprived of their basic needs like shelter and food. Oil and basic commodities are in short supply. Inflation creeps in with price gouging causing more social unrest leading to riots as people become desperate. Lawlessness is the order of the day.

  4. John T. Banewicz August 23, 2018 at 5:44 am

    Bank deposits, money in any institution, including stocks, is virtual. I show my grandkids a blank piece of paper, ask how much it’s worth, and when they say it’s worth nothing I write on it “IOU one bicycle” and ask again how much it’s worth. I then show them a potato and ask how much it’s worth. A few cents. I then ask how much they pay for a bag of potato chips. If there is a currency change, everything will devaluate, including gold and silver, but, gold and silver, land, houses, (all commodities) will be worth something. When people are short of money, they ask me for food and toilet paper, not gold or silver.

  5. Elizabeth Misa August 23, 2018 at 6:03 am

    How wii credit unions be affected by this?

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