Yes, You Read That Correctly
My Fellow American,
What I just described to you is the new law of the land and It was signed into law in 2010 under then President Barack Hussein Obama.
It's known under many different names:
The Dodd-Frank Act.
Wall Street Reform and Consumer Protection Act
Public Law 111203
H.R. 4173
Bank Bail-In (Google this search phrase: DoddFrank BailIn)
Dodd-Frank Bill being signed into law. President Obama Signing The Dodd-Frank Act.
The law states that U.S. banks may take its depositors funds (i.e. your checking, savings, CD's, IRA & 401(k) accounts) and use those funds when necessary to keep itself, the bank, afloat.
That means:
if your bank makes bad investments in derivatives
or makes bad loans to sub-prime borrowers
or manages the bank poorly and cant service its debt
Or another 2008 banking crisis
OR WORSE, ALL OF THE ABOVE
Instead of that bank going bankrupt and the banks assets sold off to be given back to its depositors
Now the bank simply keeps your money and guess what? The bank is no longer bankrupt. Did you read that? The Bank Keeps Your Money.
Its the law of the land and there is nothing you can do about it!
Welcome to the 21st Century in the United States of America. But Its Not Too Late You Can Do Something About It
Dont just sit idly by thinking this wont happen to you. If you have more than $10,000 in any financial institution, that institution is eyeing your money.
They know that if they make bad decisions and run the bank into the ground, its ok. They can take your money and live to see another day.
By making one simple change to your savings strategy you can protect some or all of your retirement.
Poster Comment:
This was a reprint used to sell IRA gold investments.
#1: BTP Holdings To: Horse (#0)
That is all well and fine as long as you have the money to invest in the IRA.
Most people operate on a shoe string. ;)
BTP Holdings posted on 2020-06-25 10:44:33 Reply Private Reply