In this video, I talk with author and economic analyst John Sneisen @TheEconomicTruth about a rather alarming issue that affects basically everyone who has money in a bank... Insolvency.
John researched nearly every major bank and credit union and the truth is truly shocking (if you don't study this kind of stuff on a daily basis). The fact is, they're all bankrupt. Totally insolvent. Not even going into their derivative exposure, their cash to deposit ratio is alarmingly low, and by low we mean likely 0.20 to 5% covered.
Recently we covered the bank run and collapse of ABLV in Latvia which just got bailed out. Their cash to deposit ratio was 13%. Compared to most of the big banks, they were doing well!
Here are some examples...
JP Morgan:
98.26% of deposits are not covered. So they cover about 1.74%.
Wells Fargo:
98.41% of their deposits are not covered. So about 1.59% is covered with cash on hand.
Goldman Sachs:
98.76% of their deposits are not covered. So about 1.24% is covered by cash on hand.
Alpha Bank in Greece:
99.48% of their deposits are covered. 0.52% is covered by cash on hand.
Then looking at some of the credit unions...
Assiniboine Credit Union in Canada:
97.53% of deposits are covered. 2.47% covered by cash on hand.
Cambrian Credit Union in Canada is astounding:
99.84% of deposits are not covered! 0.16% is covered by cash on hand!
We could go into many more examples, but the point is, the banking system is insolvent! The only thing holding them up right now is investor confidence! This is incredibly dangerous and will not end well which is why individuals must protect their wealth. Insure their wealth. Break free from the banking system. Be financially responsible. Look to private vaults. Be self sustainable and learn how to save money themselves instead of trusting banks with their retirement and trusting banks to properly invest your money. If your money's in the bank, it's not yours, it's the bank's! One must learn about money for the sake of their own money.
This is not advice, but simply our opinion. But those numbers above speak for themselves!
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Large swaths of the population don't understand this simple fact. They 're under the mistaken impression that when they make a deposit, the bank keeps their money in a secure place where they can have access to it 24/7. LOL
The masses need to wake up! Great comments, I totally agree!
I think for future the bank may use a system like steemit because steemit system is transparancy.
Your analysis is correct
With Bitcoin
The future is bright
ABLV is doing well compared to the big banks.We need to know good banks to keep safe our wealth.Very imformative and helpful post.
Are finnish bank doing how well? I am not saying that I believe them to be well, but they have been dragging how bank laws are so good around her.
good work in the article.thanks for sharing
Who needs reserves when you can just add digits to a ledger? I'm only half joking. Next financial crises expect bail ins. Things will get interesting....
Brilliant Jon, some proper field research not just echoing what everybody is saying. Great meeting you at at anarchapulco.
What do you think of buying Gold and Silver on a credit card? Knowing that one day the value will far exceed the interest paid?
The world population is in for a rude awakening when one day they wake up to go to the store and the ATM is down , and the store can’t give you CASH BACK ❗️🤑😈👹🏦🎆🎇🌋💵⚰️💸💥⛈‼️ Then the wars will begin . GOD help us all . Citizens go join your local militia , your gonna want help from the MOBS of gangs that just want there’s . That is a part of history and I don’t want any misinterpretation . I want peace , but mankind doesn’t know how to govern that peace well . Especially USA corporation ❗️Starting wars all over the world for a lie (9/11) was not a good idea . USA corporation has made many enemies all over the world , and now all they have to do is wait . TIC TOC TIC TOC ⏰ 😁 The death of this Zionist empire is here , and what comes next is not going to go well . The patriots want to go back to the basics of the constitutional republic which I will then support , but the communist invaders want to turn this into a Marxism socialist republic for I will fight to my last breath to stop . And the watchers who don’t pick a side until the last man standing , and oh we in the militia already have contingency plans for those of you who just wanted to stay out of it . Its called D E P O R T A T I O N ❗️You don’t have to go home , but you can’t stay here ❗️This will be a participation only republic . No fucking drug wars , no government controlled health care . No comfort laws will be passed . Schools will teach the constitution and the bill of rights . They will have classes on guns , because the sooner they learn respect then the less likely chance of an accident , or a misfire . We’ll bring back the horse and buggy . I think this will bring a bigger sense of community for being outside and being able to say hi to some neighbors and employing thousands as ranch hands . We will spring up windmills everywhere and laminate every inch of our roofs with solar material . Grow our own victory gardens . It will be work , but we can’t descend to being savages . Great video . Thanks 🙏 👏👍✌️♥️👊🏻
Great to see you here too, I enjoy your Youtube videos immensely. Following you and John for real info and stats. Thanks for the research and sharing.