THINK YOU’RE NOT LENDING MONEY TO INSOLVENT BANKS? THINK AGAIN. | John Adams
Most savers in the US and Australia are not aware that their checking and savings “deposits” in the bank are legally unsecured loans subject to “BAIL-IN” by the banks (many of which are already insolvent on their books, and getting drastically worse with COVID Shutdown-related defaults.)
Although governments officials state that “all is well, nothing to see here, savings are protected,” the actual laws do not protect the ordinary saver, but the banks.
Economist and public-interest advocate John Adams, co- host of “In the Interest of the People,” returns to Liberty and Finance / Reluctant Preppers to expose the dirty little secret trap that’s ready to spring on unsuspecting savers, and to announce his proposed amendment to close this loophole in Australia, which he has submitted to the Australian Parliament inquiry.
For more info, email john@AdamsEconomics.com
Media coverage:
———
Coronavirus crisis heightens fears bank deposits could be wiped out under 'ambiguous' laws
https://www.abc.net.au/news/2020-07-16/coronavirus-crisis-heightens-fears-bank-deposits-could-be-wiped/12458462
US “Bail-In” Law relevant to this interview: “Dodd-Frank Wall Street Reform and Consumer Protection Act,” which was passed on 2010 after the GFC, to prevent future bail-outs, (while quietly legalizing bail-ins!)
———
https://www.investopedia.com/articles/markets-economy/090716/why-bank-bailins-will-be-new-bailouts.asp
https://www.fdic.gov/about/financial-reports/report/2010annualreport/AR10doddfrank.p
———
And via G. Edward Griffin from The Corbett Report:
https://needtoknow.news/2020/07/are-bankers-planning-bail-ins-using-depositors-money
———
==================================
Acquire SILVER & GOLD at the best price of any listed dealer and support this channel!
email your name and phone number to LibertyAndFinance@Protonmail.com
Donate to Support Our Mission!
https://www.Patreon.com/ReluctantPreppers
or
https://www.paypal.me/ReluctantPreppers
==================
Subscribe to Be Notified When We Post to YouTube (it's FREE!) ► http://bit.ly/Subscribe-Free
Liberty and Finance LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Liberty and Finance website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Liberty and Finance to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Liberty and Finance LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.
The Information presented in Liberty and Finance is provided for educational and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided from or through this forum is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The Information on this forum and provided from or through this forum is general in nature and is not specific to you the User or anyone else. YOU SHOULD NOT MAKE ANY DECISION, FINANCIAL, INVESTMENTS, TRADING OR OTHERWISE, BASED ON ANY OF THE INFORMATION PRESENTED ON THIS FORUM WITHOUT UNDERTAKING INDEPENDENT DUE DILIGENCE AND CONSULTATION WITH A PROFESSIONAL BROKER OR COMPETENT FINANCIAL ADVISOR. You understand that you are using any and all Information available on or through this forum AT YOUR OWN RISK.
All Rights Reserved.