Bank Deposit Confiscations Approved in US: Move Cash OUT of BIG BANKS NOW (to Bitcoin or Safe Alternatives)

Confiscation = a legal seizure by a government or other public authority.

There will be NO more taxpayer BAILOUTS for the Big Wall Street banks. That much has been established by the lobbied to death in the Dodd-Frank banking reform bill.

There will be a BAIL-IN, tho. A bail-in of all your deposits in the bank when this happens. Some say as soon as this coming summer. I certainly hope not, but please prepare yourself.

Instead of taking money from the government (taxpayers), the principal has been established that the next source of money for profligate banks will be YOUR deposit accounts.

Yeah, that’s right, the money to stabilize the banking sector during the next crisis will come out of your savings and checking accounts.

How can they do this, you ask?

Simple. When you deposit money in a checking or savings account, that money no longer belongs to you. Technically and legally, it becomes the property of the bank, and the bank just issues you what amounts to an IOU.

As far as the bank is concerned, it’s an unsecured debt. (Meaning, you are an UNSECURED creditor.)

The way Dodd-Frank has managed to screw things around, derivatives (bets banks have made in the Wall Street casino) have priority over your checking and savings accounts when it comes to paying off their debts.

You can read the entire Agreement here: https://www.fdic.gov/about/srac/2012/gsifi.pdf

Do you see in Paragraph 2, where it states :

"They should also assign losses to shareholders and unsecured creditors in the group, thereby avoiding the need for a bailout by taxpayers."

That's YOU. That "unsecured creditor" is YOU and YOU will be assigned your hefty share of the LOSSES to keep the bank open.

Don’t EVEN think that the FDIC (Federal Deposit Insurance Corporation) will save your money. The assets of the FDIC are minuscule (in the billions) compared to the valuation of outstanding derivatives (in the trillions). Your deposits are protected only up to the $250,000 insurance limit, and also only to the extent that the FDIC has the money to cover deposit claims or can come up with it.

Besides, didn't you see the title of the Paper as Approved: "A joint paper by the Federal Deposit Insurance Corporation and the Bank of England" -- This IS the FDIC's plan of insurance. YOUR deposits.

What happens when Bank of America or JPMorganChase, which have commingled their massive derivatives casinos with their depositary arms, is propelled into bankruptcy by a major derivatives fiasco?

These two banks both have deposits exceeding $1 trillion, and they both have derivatives books with notional values exceeding the GDP of the entire WORLD.

This Public Banking Initiative video explains what local representatives MUST to do to protect it's citizens:

The bail-in ripoff scheme has been successfully tested.

Depositors in Cyprus found their savings largely wiped out early in 2013. That infamous bail-in was a "test run", leaving the U.S. government's fingerprints all over Cyprus.

It is significant to note Cypriot authorities claimed, on their website, the legal authority to change rules mid-stream at any time, JUST AS the FDIC claims.

Low withdrawal limits stopped panicked depositors' last minute bank runs.

As banks stole their deposits, no citizens stormed banks with pitchforks, no guillotines were hauled into the village square. Bankers from Cyprus to New York congratulated themselves all around.

Poland quickly followed, stealing not bank accounts but private pension funds. Authorities took 50% of Polish retirement funds overnight with the click of a mouse.

FDIC Bail-In Plan

Bail-in plans have been adopted by Canada, Australia, and throughout Europe for future use.

The G-20, representing the twenty largest national economies, rubber stamped approval for global bail-ins late 2014, as has the International Monetary Fund.

In April 2015, Austria dumped its version of FDIC insurance altogether.

Governments facing economic annihilation across the globe are now legally authorized to seize banking depositors' savings, either all or in part, overnight, and without notice to YOU. The insiders will be sure to get their money OUT before this happens to them.