By Ken Jorgustin – Modern Survival Blog
During the next banking crisis, any ‘money’ that you and I have in the bank will be ‘bailed-in’ after a financial collapse. And if you think that your money is protected with your bank account’s FDIC backing, think again.
During the recent G20 meeting (mid-November), the member nations decided that your bank deposits will become property of the bank if a crisis takes it down.
This means that the bank will be able to pay off their creditors first (if there’s any left to pay) and the money will no longer be yours. The new rules essentially change the status of you as a depositor (of your money) to that of an investor in the bank. And as with any investor in the stock market (for example) you will be subject to losing your money.
The rules have completely changed…Continue reading…
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