The headline is not a mistake. Yes, you can still go to the ATM and withdraw funds. You can take small amounts of cash out of the bank without the IRS seizing everything you own. However, because of new rules that went into effect this morning, your bank deposits have no insurance and it is a matter of time until they are stolen right from under your nose.
The G20 Just Stole Your Bank Account
As of this morning 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 declaring November 16th as “the day money dies,” and this constitutes today’s Zero Hedge’s headline. 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 16th 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 this past Monday (11/10), 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.
Your Bank Account Has No Protection
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. How do I know this? Please read on.
Goldman Sachs Opened the Gates to Hell
Silver prices have dropped dramatically covering an aggregate period of 18 months. Panic selling dominated the market as investors and financial institutions could not dump their holdings of silver and gold fast enough. The market clearly shows signs of mass manipulation by the Globalists. The globalists have been moving their fiat currency holdings to gold since the Spring of 2013. The price of gold was artificially manipulated by Goldman Sachs to drive down the price of gold in order to make it cheaper for the powers-that-be to purchase gold cheaply. You see, they know that very soon, there will no money left in the banks. You want proof? The best proof that the globalists are manipulating the price of gold comes from “Goldman Sachs (who), in the Spring of 2013, told their that they recommend initiating a short COMEX gold position.”
This has been going on for over 18 months!
Please remember that this is the same Goldman Sachs that shorted its stocks on 9/11. This is the same Goldman Sachs that placed put options on Transocean stock the morning of the Gulf oil explosion. This is the same Goldman Sachs that got caught shorting the housing market in advance of the housing bubble burst. Basically, when Goldman Sachs starts shorting anything, we should all become apprehensive particularly if our individual investments are anywhere in the neighborhood of the commodities being impacted by shorting. When Goldman Sachs begins to short anything, it is time to take your money and run for the hills. That time would be now.
Why Would Goldman Sachs Dramatically Drive the Price of Gold Down?
Beside trading and bartering, if the dollar and the Euro were to collapse tomorrow, what currency of exchange would the left standing? The obvious and simple answer would be primarily, gold, and secondarily, silver. Ask yourself this question, if you knew that paper monies all around the world were to collapse, what action would represent your best option? The obvious answer would be to dramatically drive down the price of gold and silver if one had the ability to do so, and then buy as much as gold as one possibly could. Goldman Sachs has the ability to do so by utilizing their ominous shorting strategy and it is precisely what they have done.
ONE MORE DOT TO CONNECT
Additionally, your bank account has been collateralized against the derivatives debt. Hence, you had, in 2008, former CEO of Goldman Sachs and the Secretary of Treasury, Hank Paulson, telling a closed session of Congress that if they did not authorize the bailouts, there would be tanks in the street an ultimately, REVOLUTION! This was necessitated by the credit swap derivatives Ponzi scheme and the debacle that followed.
Further, the bankruptcy reform laws stemming from the Bankruptcy Reform Act of 2005, the credit swap derivatives counter-parties are given preference over all other creditors and customers of the bankrupt financial institution, including FDIC insured depositors. This is why the G20 effectively stole your money this morning!
In the action taken by the G20 nations, this morning, your bank account is no longer considered to be money. The bankers holding the bag on the credit swap derivatives will move to the head of the FDIC compensation line. Therefore, the regulations requiring that your money be insured by the FDIC are no longer in effect! This devaluation of “money to something other than money gives what the experts call “super priority” in terms of the line of succession from which to collect bankruptcy monies. TAKE YOUR MONEY OUT OF THE BANK! But do not do so until you read my next article because you could go to jail if you make a mistake.
To make matters worse, Bank of America has conspicuously co-mingled their credit swap derivatives debt with your savings account and as such they have every legal right use your money to cover their debt. The derivatives debt is conservatively estimated to be one quadrillion dollars which is about 16 times the entire GDP of the planet. Even before today, your money is as good as gone. Today’s action by the G20 only further cements this new reality that you, your labor your possessions are all slave capital to the banksters. Your value as a human being has been monetized.
To The Dumbed Down Sheep of America
We have recently discovered that JP Morgan is in the same exact boat as Bank of America as is Wells Fargo. Oh, they would never do that and steal your money, you say? I have bad news for the uninformed sheep of this country, they already have done that very thing.
In the MF Global debacle, the reason that MF Global customers lost their segregated account funds was because the MF Global debt load was caused primarily because of their credit swap derivatives debt which, under bankruptcy laws, gave derivatives claimants super-priority in the bankruptcy proceedings. This is why Corzine and his fellow criminals did not go to prison as former Goldman Sachs executive, now the head of the Securities and Exchange CME gave Corzine, a former Goldman Sachs executive, a free pass on the theft of investors money at MF Global. This was a beta test.
As of this morning, every bank account in America became an MF Global. You are now playing in a game with no rules.
Remember, sheep of America, as you are driving to work tomorrow, you are doing so in order that to have the privilege to earn money and give it to Goldman Sachs, Bank of America, Wells Fargo and JP Morgan Chase.
In short, you do not matter and as of this morning, your money is not really money and your bank account is no longer in your control.
Before this week is over, I will be revealing how you can save some of your money. It is too late to save all of your money as that ship sailed some time ago. However, it is still possible to save much more that the 1.1% that your government is going to give you as compensation. Did I mention that 401 k’s and your retirements are next?
Written by: DAVID HODGES of THE COMMON SENSE SHOW