Bail ins next after OPEC crashes the oil market?

[Admin1]

experts in the markets have been warning that budget bills have been moving through Congress and signed by the President which would allow banks to simply confiscate your deposited money. This has happened in other countries around the world, most recently in Cyprus, and this guy is warning again that the day rapidly approaching where bail-ins will be a fact of life in the USA.

When we deposit our money into a bank we are loaning the money to the bank for an extremely low interest rate. We are unsecured creditors just like a person with a credit card from visa or Amex.

The 2015 federal budget bill that was just passed repealed a part of the Dodd-Frank financial reform law, which protected our savings we deposit into banks. The new budget provision would allow banks to use the savings accounts of Americans to speculate in the markets. Basically the banks would use our savings to help their big clients make high risk investments on derivatives, the technical financial instruments that were at the center of the financial crisis. This new legislation will not benefit any of us serfs.

In the video Kirby says the oil prices may seem great to the average American when we go to fill up. But he says the reality is it may in fact cause the next financial debacle. All the debt tied into the shale oil market here in the USA will be tied into the cost. Similar to what's happening to the Russian oil market and their economy now.

He says this will trigger QE4 and banks will use bail-ins to pay off the high risk debt. Sounds like it's time to start closing savings accounts and hiding cash in the mattress.

[Inor]

I think it is inevitable that the government will seize retirement accounts and bank accounts larger than some arbitrary amount. But I do not think it will be because of falling oil prices. I think it has to happen because of our national debt. No nation in the history of the world has been able to sustain a debt to GDP ratio of more than 90%. Presently, the U.S. is at about 120% and Japan was at about 200% as of last summer. (I have not looked at either recently but I have no reason to think either have improved in the last 6 months.) The laws of mathematics have to come into play sooner or later. The only thing the federal government can do when we go into a sovereign debt crisis would be to sell land (mostly in the western U.S.) or confiscate savings. In other words, their only option will be confiscation of savings larger than some amount.

[MrsInor]

What's a savings account?

[hawgrider]

What's a savings account?

Heard that ! Wouldn't know haven't had one in 25 years. Jackwagon banks charged me more to have one than it was earning in interest...... Hence a very un polite I'm close this account.

[BucketBack]

Heard that ! Wouldn't know haven't had one in 25 years. Jackwagon banks charged me more to have one than it was earning in interest...... Hence a very un polite I'm close this account.

I have 3 checking accounts now.

1) 1st is Choice One opened just for PayPal use
2) 2nd, is one I opened since Choice One started charging, but they changed there minds, and for direct deposit of my paltry caregiver job.
3) 3rd is the one I was joint holder on with Mum, that one is set up for bills, on EFT, and barely has enough in it to cover.

[James m]

I still have a savings account. I use it to hide money from myself. So i don't spend it.

Im getting a 0.00 % interest rate. Ain't it grand?

[hawgrider]

I still have a savings account. I use it to hide money from myself. So i don't spend it.

Im getting a 0.00 % interest rate. Ain't it grand?

Yeah no thanks. I tell ya they make me direct deposit to get my hard earned .75 cents for 40 hours And as soon as it hits the account I pull it. I do not want any money in the bank after the north eastern grid went down a few years back. All the new age youngins were screwed no cash on them to buy anything....... sucked to be them. Cash is king screw those freaking debit cards. I stuff all my money in a mattress hmmm maybe that's why my back is screwed up?

[RWalls]

Banks are the biggest scammers around.

[Montana Rancher]

I think it is inevitable that the government will seize retirement accounts and bank accounts larger than some arbitrary amount. But I do not think it will be because of falling oil prices. I think it has to happen because of our national debt. No nation in the history of the world has been able to sustain a debt to GDP ratio of more than 90%. Presently, the U.S. is at about 120% and Japan was at about 200% as of last summer. (I have not looked at either recently but I have no reason to think either have improved in the last 6 months.) The laws of mathematics have to come into play sooner or later. The only thing the federal government can do when we go into a sovereign debt crisis would be to sell land (mostly in the western U.S.) or confiscate savings. In other words, their only option will be confiscation of savings larger than some amount.

Banks are the biggest scammers around.

It will be ultimately true that the Federal Reserve will seize retirement accounts (401k's, Sep IRA's, Pensions etc) and put them into government securities (treasury debt) to sustain the system a bit longer.

Not sure how that plays out with a WWIII option, but IMO get what you have in banks and retirement accounts OUT and into tangible assets, like food, water, shelter and then Precious Metals.

It is January 20, 2015 and I'll put my reputation on the line saying it is almost or already too late to really prepare.

[rjd25]

I don't think the financial crash will be a result of oil. While stocks typically have a price-to-earnings ratio of 15, they now sit at a ratio closer to 23. That means stocks are priced 53% higher than their 10-year average, which should worry anyone with money in retirement accounts or investment accounts. The last 2 times the market was this high a SEVERE correction occurred. All of this is a result of the funny money printed by the FED. Money from heaven will be the pathway to hell.