…by your bank
Why precious metals are so important
August 2, 2020 — Remember the “too big too fail” bank bail outs? Where the government gave billions to criminal banks who were imploding back in 2008? Those will never happen again.
What will happen are bank “bail-ins.”
What’s a bail-in?
If a bank goes belly-up, they won’t be bailed out by taxpayer money from the government, instead the bank will have to bail in to their own deposits.
Your deposits – your money.
This was ushered in under the Dodd-Frank legislation of 2010 which made bail-outs illegal, but opened up the door to bail-ins. All of the debt that a bank has will get paid off with your deposits. Your savings account, your checking account; that’s the money they will use to pay the bank’s debts. Your money in your bank account is not your money. It is a loan you have given to the bank where the borrower (the bank) creates the term of the loan for the lender (you).
This “new” policy of bank bail-ins has been in place since 2014 when it was rolled out not by your sovereign national government, but rather by the Bank of International Settlements (BIS) located in Basel, Switzerland. In one foul swoop the BIS magically implemented a new global policy of bank bail-ins that was quickly adopted across the entire planet. The BIS is housed in a bizarre looking building shaped like a boot which you can see at the top of this report. According to Ellen Brown in an interview with James Corbett, it is rumored that the boot-shape of this building came from a line out of George Orwell’s 1984 where Winston is told, “If you want a picture of the future imagine a boot stamping on a human face – forever.”
I believe the next “financial crisis” will be manufactured to end physical paper and coin currency. The bail-in may be the perfect vehicle for this as very few people know it exists.
Once the citizenry is told their bank accounts are gone – legally used to pay-off debts the bank had to other creditors – they will demand the politicians “do something.” With everyone’s (meager) savings vaporized it will be easy for all to accept a new system. You will have your money given back to you; but it will never be given back to you. It will become permanently digital. You can use it to purchase items and pay debts, but only in a digital format accessible through a chosen biometric identifier; fingerprint, palm scan, retina scan, etc… which will eventually be tied into a Universal Digital Identity (UDI).
Perhaps you will not get your money back at all, but instead will begin to receive a Universal Basic Income (UBI) which will be based upon the amount of money the bank (legally) stole from you. And that money will only come to you as stated above; in a digital format only accessible through a biometric identifier. People who have no savings and thus lose no money from a massive bail-in crisis will be very happy to start receiving a UBI, but they will receive the lowest denomination level since they are “owed nothing” from the major crisis.
PRECIOUS METALS: Preserving Value
I am not an economist and I do not offer any financial advise in this post, or in any of my posts, ever. But I am not an idiot, and I’ve paid close attention to global markets for over 20 years. Gold recently broke its all-time high over $2,000, and silver scratched at $30. If you do not own any precious metals it does not matter what price you buy them at. Anywhere between 5% and 25% of your total assets should be in precious metals: actual physical metals that you own, hold, store and lock up.
This does not mean you should take every dollar out of your bank accounts and stash it all under your mattress. No. In America accounts are FDIC insured up to $250K. That said, it doesn’t feel like the federal government is especially trustworthy and will pay everyone every dollar lost in the next economic crisis. If you are lucky enough to have savings you want it diversified. Bank accounts, precious metals, real estate, property, food security, physical security, mobility security, digital currency, cash – basically don’t have all of your eggs in one basket.
For more information on Bank Bail-ins watch and read the information at the following links:
James Corbett summarizes how Bank Bail-ins have come to be. Outstanding explanation and analysis: https://www.corbettreport.com/will-there-be-bail-ins-qfc-063/
Universal Digital Identity – https://thefedupdemocrat.home.blog/2019/07/28/universal-digital-identity/
Legalized G-20 Bank Bail-In Laws – https://sdbullion.com/legalized-bank-bail-ins
BIS: Central Banks May Issue Digital Currencies Soon – https://bitcoinmagazine.com/articles/bis-central-banks-may-issue-digital-currencies-soon
Big Brother in Basel – http://www.webofdebt.com/articles/big_brother_basel.php