EXPOSED: Your Bank Is BANKRUPT! - This May Cause A Bank Run!
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.
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.
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.
Your analysis is correct
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.