i leave enough in my checking account to cover the monthly transactions and a small cushion but that's it.Any rumors of this here and there will be a massive run that will crush banking...planned that way of course.
The banksters always come first. Always.
My and I should probably have my savings sewn into my mattress.
I now understand why people hid their money in “mattresses” back in the “old days”.
As is, banks are not paying any interest (to speak of), if there is no guarantee protection of your money then why bother with a bank?
So banks become all risk and no benefit.
They must think people are really stupid.
I see the law of unintended consequences coming into play as people find ways to protect their assets.
Some say that Canadian banks are so strong Canadians don’t have to worry.
Worry ,Liberal Leader Trudeau is in charge
If true that makes them thieves and our society has become lawless. I guess if they don’t mind stealing my money they won’t mind it if I come into the bank to get my stolen money back with a shotgun.
Sharia banking, anyone?
Gold. Buy it. Bury it.
So if banks can now steal your money and leave a worthless IOU, does that mean I can go into the Last National Bank and tell them to hand over 10 million, and all I gotta do is leave a little slip saying “we’ll get back to you someday”?
Guess the FBI is outta biz.
If memory serves, the last G20 meeting in 2014 was an agreement that bank deposits are no longer your money, but regarded as an ‘investment’ in the bank, as if the depositor bought shares of stock.
This was and is still an outrage, but few know about it for the usual reasons - big media blackout.
Everyone will find out quickly enough when the next banking crisis hits.
Ping!
That is theft. Not bailin. Stealing. They always give it a nice name to hide the reality.
Atlas Shrugged...........
Time to keep even less money in banks. Gold, silver, lead, brass, and blued steel are much more secure.
i leave enough in my checking account to cover the monthly transactions and a small cushion but that's it.Wealthy people rarely keep much of their money in banks anyway.
Stock brokers are where its at for the well-to-do.
Banks are the only ones allowed to commit bank robbery.
Not sure if this is accurate. Here http://www.fin.gc.ca/pub/C15/04-eng.asp#div5 it says:
“Only prescribed long-term debt would be subject to the bail-in power, and all deposits would be excluded. “
Still looking for the text so I can read it for myself.
If this is American banking law, it matters. Otherwise, it doesn’t.
I no longer keep more than $2,000 or so in my checking account. Everything else needs to remain in a more tangible form, in case of a sudden bail-in or insolvency.