Monday, March 25, 2013

No Bank Account is Safe Today (Not Just The Ones in Cyprus)


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Who really owns your bank account? Most people would be shocked to discover that the bank owns your bank account, not you. From a legal and financial accounting standpoint, the term "deposit" is used by the banking industry in financial statements to describe the liability owed by the bank to its depositor, and not the funds that the bank holds as a result of the deposit, which are shown as assets of the bank.

Check out the "legal framework" of this article to understand that all money placed in deposit accounts of banks are not YOUR assets but assets of THE BANK

the link to the chart that illustrates that RRRs for well over 70% of US commercial banks is effectively ZERO

Why you should never ever, under any circumstances, store PMs, physical gold/silver, at a bank

EU Parliament member Nigel Farage says, Get ALL of your money out of EU banks now!

Link to a more in-depth video discussion of why banker theft through the inflation mechanism is WORSE than what is going down in Cyprus today

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