Can The Bank Actually Take Your Money?

Many folks in America are looking for a safe place to keep their money.  They have a feeling that something big could happen and they are more concerned with the return OF their principal than they are with the return ON their principal.

Of course that means that even though the banks are paying 0% interest to hold your money, (the lowest interest rates EVER in the history of mankind) this hasn't stopped people from putting $$billions into their local and national banks.

So what happens if the banks start to fail when the next collapse happens?

"Well Dennis, that won't be a problem because all my accounts are FDIC insured."

Huh....well what happens when you find out that the FDIC only has about $1 in reserve to pay for every $100 they have insured?

"Well Dennis, that won't be a problem either because the Federal Gov't would have to bail out the FDIC and make me whole."

Huh....well what happens when the Federal Gov't is hopelessly bankrupt?

Well friends, welcome to Cyprus.  Last year their banks started to fail and the TOOK THE MONEY from the folks who had savings and checking accounts with them.  It's called a BAIL IN...not to be confused with a BAIL OUT.

I think you get the picture....

The Bail-In: How You and Your Money Will Be Parted During the Next Banking Crisis

There will be no more taxpayer bailouts for the Big Wall Street banks. That much has been established by the lobbied to death Dodd-Frank banking reform (yeah, right) bill.

However, instead of taking money from the government (taxpayers), the principal has been established that the next source of money for profligate banks will be your deposit accounts. Yeah, that’s right, the money to stabilize the banking sector during the next crisis will come out of your savings and checking accounts.

To add insult to injury – since the banks pay you zero percent on your savings account in the first place – the banks have the right to confiscate your funds if they crash the economy again as they did in 2008. Remember the Great Recession? It’s coming again to a bank near you.

How can they do this, you ask?

Simple. When you deposit money in a checking or savings account, that money no longer belongs to you. Technically and legally, it becomes the property of the bank, and the bank just issues you what amounts to an IOU. As far as the bank is concerned, it’s an unsecured debt.

The way Dodd-Frank has managed to screw things around, derivatives (bets banks have made in the Wall Street casino) have priority over your checking and savings accounts when it comes to paying off their debts. And don’t think that the FDIC (Federal Deposit Insurance Corporation) will save your money. The assets of the FDIC are minuscule (in the billions) compared to the valuation of outstanding derivatives (in the trillions). Your deposits are protected only up to the $250,000 insurance limit, and also only to the extent that the FDIC has the money to cover deposit claims or can come up with it.

Here:  http://sandiegofreepress.org/2015/01/the-bail-in-how-you-and-your-money-will-be-parted-during-the-next-banking-crisis/

The Bible has always been clear....everything we see is one day going to be burned up.  Peter then goes on to ask us what kind of people are we supposed to be now that we know this?

Are you a person who wakes up and counts his money every day as you add up your stock portfolio and bank accounts?

Are you a person that believes his paper money is going to provide him absolute security for the rest of your life?

Are you a hoarder of money and find it difficult to share your material goods with other brothers and sisters?

Have you been involved in a fight with your family or siblings over an inheritance?

Have you been at odds with a brother or sister-in-Christ over money?

Do you find it impossible to part with even 10% of everything God has given you when the offering plate comes around?

If we find ourselves in any of these categories, we should repent and fix it...as much as it's possible for us to fix.

I have no idea if America might collapse before the rapture.  But I can say that it would certainly be within God's character and history to tear down ANY false gods and idols from a society so that they may begin to be purified.

Jesus, please forgive us if we spend more time counting and worrying about our money than we spend in time worshiping and glorifying you.

Hat tip to Tom F.