One of our most recent video reports!
See the original article below:
Josh Sigurdson talks with author and economic analyst John Sneisen about a rather alarming issue that affects basically everyone who has money in a bank... Insolvency.
John researched nearly every major bank and credit union and the truth is truly shocking (if you don't study this kind of stuff on a daily basis). The fact is, they're all bankrupt. Totally insolvent. Not even going into their derivative exposure, their cash to deposit ratio is alarmingly low, and by low we mean likely 0.20 to 5% covered.
Recently we covered the bank run and collapse of ABLV in Latvia which just got bailed out. Their cash to deposit ratio was 13%. Compared to most of the big banks, they were doing well!
Here are some examples...
JP Morgan:
98.26% of deposits are not covered. So they cover about 1.74%.
Wells Fargo:
98.41% of their deposits are not covered. So about 1.59% is covered with cash on hand.
Goldman Sachs:
98.76% of their deposits are not covered. So about 1.24% is covered by cash on hand.
Alpha Bank in Greece:
99.48% of their deposits are covered. 0.52% is covered by cash on hand.
Then looking at some of the credit unions...
Assiniboine Credit Union in Canada:
97.53% of deposits are covered. 2.47% covered by cash on hand.
Cambrian Credit Union in Canada is astounding:
99.84% of deposits are not covered! 0.16% is covered by cash on hand!
We could go into many more examples, but the point is, the banking system is insolvent! The only thing holding them up right now is investor confidence! This is incredibly dangerous and will not end well which is why individuals must protect their wealth. Insure their wealth. Break free from the banking system. Be financially responsible. Look to private vaults. Be self sustainable and learn how to save money themselves instead of trusting banks with their retirement and trusting banks to properly invest your money. If your money's in the bank, it's not yours, it's the bank's! One must learn about money for the sake of their own money.
This is not advice, but simply our opinion. But those numbers above speak for themselves!
Stay tuned for more from WAM!
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Hey Josh, it's Josh. Correct me if I'm wrong here. I vaguely remember watching a short documentary when I was a kid where they used cartoon like pictures to depict about how monetary note was created. What stuck with me, all these years, is that monetary note was created by banks to support the gold rush in the USA during the 1800s. Back then, people couldn't scrape off a nugget off of a gold bar to pay for goods and services. Depositing a brick of gold wouldn't be efficient in a bank. So they created monetary note that was backed by real gold that the banks were holding. Monetary was efficient back then. Now adays, debit cards are used.
If my childhood memory is correct, I don't think all of the banks in the world can back trillions of dollars of monetary note that is in circulation. They just kept on printing note which leads us to this scenario.
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I completely believe now in cry0to now
....banks will always robs us
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Impressive data
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Absolutely enjoy your commentary! This is all the more reason to keep buying cryptos....actually it's a perfect time with the bloodbath in the aforementioned market!
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Jayzus, man, when I first read the title I thought it meant that Dtube is bankrupt. Nearly gave me a heart attack there man... :)
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Yes! I did it! Sent the link of this video to my bank and asked if they would like to take a look at it! They answered me immediately and said that they did not understand the question. I answered again and said to them (polite) that it was to much for me to translate the video in to swedish (I'm swedish) so if they could please take a look at the video. They answered me back and said: OK! and they put a Emojis smiley!
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I keep as little as I can in the banks . And they are ALWAYS trying to sell me more services . Now I have average bills and credit score , but they offered me a big amount on a credit card that was pre-approved . And I was tempted , but I thought wiser . And I thought of you two saying that responsibility is important to obtain freedom . I subscribe to that idea and I have always lived responsibly . Great show . 👏👍✌️♥️👊🏻
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