One of our most recent video reports!
See the original article below:
Josh Sigurdson talks with author and economic analyst John Sneisen about the recent news out of the Federal Reserve following its announcement that it will extend Deutsche Bank's time to come up with a living will alongside 4 other banks.
The living will submission regards the bank's plan for a dissolution following a crisis/bankruptcy.
Alongside Deutshe Bank is Barclays, Credit Suisse Group and UBS. All financial institutions will have to come up with a living will by July 1st, 2020 rather than their previous date of July 1st, 2019.
Prudential Financial on the other hand faces a new submission deadline of December 31st, 2019.
This is a further example of the Federal Reserve attempting to push off the inevitable. They know these banks are all insolvent. They know they will go down and they know they will cause a title wave or domino effect when they do. So for that reason, they want to prop up the system a little longer. These banks can't even go bankrupt properly!
We've viewed the cash to deposit ratio among these banks and the amount of deposits covered in cash is astonishingly low!
This is the inevitable result of vast centralization and printing of currency, not to mention getting incredibly tied up in the extremely manipulated derivatives markets worldwide.
All fiat currencies eventually revert to their true value of zero. They always have, they always will going back to 1024 AD in China. This time will be no different, though it will be worse. As this system has been propped up longer than any other, it will come down harder and for that reason individuals needs to get prepared. Individuals must be self sustainable and financially responsible. They must protect their wealth and decentralize everything.
Stay tuned as we continue to cover this issue closely!