Josh Sigurdson talks with author and economic analyst John Sneisen 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…
98.26% of deposits are not covered. So they cover about 1.74%.
98.41% of their deposits are not covered. So about 1.59% is covered with cash on hand.
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!
Stay tuned for more from WAM!
Video edited by Josh Sigurdson
Graphics by Bryan Foerster and Josh Sigurdson
Visit us at www.WorldAlternativeMedia.com
LIKE us on Facebook here:
Follow us on Twitter here:
FIND US ON STEEMIT:
BUY JOHN SNEISEN’S LATEST BOOK HERE:
Help keep independent media alive!
Pledge here! Just a dollar a month can help us stay on our feet as we face intense YouTube censorship!
World Alternative Media
“Find the truth, be the change!”