JD'S Memes

If your bank fails, so does your deposit.

Bank seizures have already occurred in Spain during the 2012 banking crisis. Since then, they have also happened in Cyprus, Greece and they are now perfectly legal in the United States thanks to a clause in the Dodd-Frank bill.

If a "too big to fail" bank fails in the United States:

 1.    The FDIC takes over the bank.

 2.    The bank's managers are forced out.

 3.    The bank's debts and liabilities are converted into equity or the bank's stock. (And yes, your       

          deposits are considered a "liability" for the bank.)

 4.    If the bank's stock falls because everyone has figured out the bank is in major trouble, your wealth 

          falls too.

This is just the start of a much larger strategy of declaring a War on Cash. The goal is to stop people from being able to move their money into physical cash so that they can keep the wealth in the financial system at all costs.

 
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