The world is going to have another banking crisis but the next time around, the banks are going to take depositors’ money via a “bail-in.” This is the latest theory from respected market watcher, David Morgan of The Morgan Report.
Morgan tells our Daniela Cambone, “The bailout situation is over. It will be bail-ins next time, which means you become an unsecured creditor of the bank. This means that if you don’t hold it, you may not own it. If we were to have a bail-in, they may not take all of your currency, but they would probably take part of it.”
Morgan compares the situation to Argentina; “All the money in their banks was still yours, but you were limited to what you could take out.”
#banks #financialcrisis #investing
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Banks to Seize Your Money in Coming Financial Crisis Warns David Morgan
David Morgan, a renowned financial analyst and precious metals expert, has issued a warning that banks may seize people’s money during the next financial crisis. Morgan cautions that depositors’ funds could be used to bail out failing banks, leaving individuals with limited or no access to their hard-earned savings.
In an era where global financial stability has become increasingly fragile due to excessive debt, risky lending practices, and a volatile economic climate, Morgan’s warning should not be taken lightly. He argues that history has shown that when banks face insolvency, they often resort to desperate measures to stay afloat, including dipping into depositors’ accounts.
Morgan points out that such actions have taken place in the past. He refers to the 2013 banking crisis in Cyprus, where depositors were subjected to a “bail-in” process. This meant that a significant portion of individuals’ savings above the insured limit was forcibly converted into shares of the failing banks or outright confiscated. This move shocked many, as it had long been assumed that bank deposits were safe and immune from being used to rescue troubled financial institutions.
Marking this event as a potential precursor to future crises, Morgan believes that governments worldwide are establishing legal frameworks to enable banks to seize depositors’ funds if required. This raises concerns about the security of one’s savings in times of financial distress or systemic failure, leaving individuals exposed to the whims of banks and government intervention.
To protect oneself from such a scenario, Morgan suggests diversifying investments beyond traditional savings accounts and considering the allocation of assets into physical precious metals such as gold and silver. He emphasizes that such tangible assets tend to retain their value even during times of economic turmoil and can provide a hedge against potential financial losses.
While the possibility of banks seizing deposits in a financial crisis may seem alarming, taking steps to safeguard one’s wealth is crucial. Morgan’s warning serves as a reminder for individuals to be proactive, informed, and prepared for potential disruptions in the financial system.
It is important to note that Morgan’s views are that of a financial expert, and while his predictions may hold weight, it is prudent to consult various sources and professionals when making financial decisions. Nevertheless, his words ring as a cautionary reminder of the vulnerabilities inherent in the global financial system and the need for individuals to be vigilant in protecting their hard-earned money.
A number of the most eminent market experts have been expressing their views on the severity of the impending economic downturn and the extent to which equities might plummet. This is because the economy is heading towards a recession and inflation is persistently above the Federal Reserve's 2% target. As I'm aiming to create a portfolio worth no less than $850,000 before I turn 60, I would appreciate any advice on potential investments.
The average American could easily fit their entire net value in a shoe box, if it were in the form of physical g0ld. In spite of what they say, the buying power of gold hasn't changed since the 1800s. The price of gold changes only because our paper currency is loosing buying power.
My Grandfather escaped Germany to come America, and he told me the German currency deflated so much that a German could go to the market with a wheel-barrow full of German marks and could not buy a loaf of bread! Yea cash is king Homie! Hold on to yer cash!
If it gets that bad food and bullets will be more important than metals ….
Highly doubt anyone in this comments section has 250k or more in one bank account. (or at all) everyone needs to stop losing their heads
Economists and business leaders are voicing concerns at the start of 2023 that the year could be a difficult one. JPMorgan Chase & Co. Chief Executive Jamie Dimon said that the Federal Reserve may need to raise interest rates to 6% to fight inflation, higher than the peak level between 5% and 5.5% in 2023 that most Fed officials penciled in after their December meeting. Although I read an article of people that grossed profits up to $500k during this crash, what are the best stocks to buy/short now or put on a watchlist.
I have known since the 1970 era that only five percent of the Money is in paper. The rest of the money ( 95 percent) exist only as credit. The money does not really exist. It's only numbers on the computer screen.
Thank you. Just what I needed to watch. My wife and I are directors of our own business and own a few property, plus other income . I am nearly 52, We have started to save to retire perfectly, and possibly live on rental income, I'd really appreciate you go LIVE and talk about how to earn passive income online and retire comfortably
USD is worthless, troubled times
Wonder if some Elite would "accidentally" collapse the banks so they can roll out their CBDC in order to gain total control over their population…(for your "safety" of course.)
If you don't hold it you don't own it. In the bank the snakes own it.
This is an orchestrated collapse of the economy, a pretext for centralization and government takeover by central banks and financial tyranny central bank digital currency. Yellen and the rest of them are snakes.
Wow to the "T" he "predicted" exactly what's all over the news right now. SVB will be taken over by FDIC and 250k Withdrawal.
They will first serve the rich with their fdic insured by the time their done the little guys will have nothing!
hmmm this aged well .. wonder what's gonna happen
No one is answering "the other" critical question: If and when banks collapse, and financial crash happens, will all the Credit Unions crash too ?
What happens when our country eliminates cash and coins and we go to electronic cash.? (Digital currency?).
Such bad news delivered with smiling faces. BS
Joint owners of bank accounts, $500,000 is insured. He mentioned $250,000 for single owner of a bank account. Although, I do understand the government can do or allow almost anything if stuff hits the fan.
When is this video from? (Date?) Thank you!
People should take notice and take out as much of the fake paper money out from the banks they should buy gold or buy some land they should get totally out from the concrete jungles
Oh no, yet another place where "what you hear or read is controlled" if it doesn't fit the controller's narrative
how do you pay out of state mortage then if your not in the system
"Bail-In" it sounds like another term for "Bank Holiday!" Which is where ALL the banks in America close for an undetermined amount of time and "confiscate" up to 80% of your money which you legally loaned to them when you deposited in THEIR bank, which makes it theirs! "Possession is 9/10ths of the law!"
Thank you David! You explained the best for us small investors (AKA "sheep to be sheared").
Ana
You're not gonna believe where this person is keeping their money, I'll tell you in a few. Wait just a little more and I will tell you, I promise I will eventually tell you. Really, I will eventually tell you.
Ha, they can't seize something I don't have. Jokes on them.
Imagine every American citizen who has money in the bank trying to use the FDIC to get even a portion of it back, they don’t have enough to pay everybody!
The first people who will be told about a buy in are the wealthy who will get their money out as quickly as possible before it happens, and the banks will have cash to give to them!
About that insurance they talk about, there isn’t enough to pay every account holder out, in it!
Feb. 10, 2023, proxy war, recession, many out of work, money flying out of North America, when could we see this happen, i think very soon. it will be gone overnight! Not a doubt in my mind! Then you have the hundreds of thousands of illegals that have come in we the taxpayers are paying for finding themselves without financial support, where do you suppose they are going to get what they need when taxpayers no longer have money? The agenda timeline has been pushed ahead!
The way North American politicians are supposedly sending cash all over the world, and this proxy war that is going on, i can see a day soon when our accounts will be emptied out, we are talking about trillions of taxpayer saved dollars!
No surprise Banks are just corrupt crooks.