Banks to Seize Your Money in Coming Financial Crisis Warns David Morgan
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- Опубліковано 21 жов 2024
- 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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Given we are unsecured creditors, lending our money to the bank, we shouldn’t be paying fees to the bank and the bank should be paying us interest.
They do pay us interest, and our money is secured. Up to 250k i believe. Theres a sign in every bank ive ever been to
@@jimibones178 .001 on the dollar?
@@maxe6478 A) .001 is an exaggeration. Though i agree its still very low compared to what they charge, the original statement i adressed is still wrong
B) as is the notion that we are unsecured creditors. Bith false. Our money in the bank is federally insured up to 250k.
@@jimibones178 who pays out a federally insured claim on that loss?
@@maxe6478 oh im aware. Thats been my complaint since the first time i saw that sign at a bank. That still doesnt make the reply i was responding to true
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.
A 2022 Northwestern Mutual study found that 75% of U.S. adults admit their financial planning needs improvement. However, only 29% of Americans work with a financial advisor.
@@chris-pj7rk Very correct; the bear market has contributed significantly to the growth of my invstment. I was able to quickly increase my portfolio from $180K to $572K. Essentially, I was just doing as my finaclal advisor instructed. You're good to go as long as you get competent assistance.
@@johnlennon232 Would it be okay if I asked you to recommend this specific advisor or company that you used their services? Seems you've figured it all out.
@@kimyoung8414 I won't pretend to know everything, though. Her name is HEATHER ANN CHRISTENSEN, but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
The financial system isn't broken, it's owned by a few who use it to buy the world.
0
It's broken because it's illegal for central banks to control us. We sold out and became a "corporation" and turned over our gold to turn ourselves over to the central banks that gave us the fiat system.
Our money is being sent to support terrorists like taliban 🤷🏼♀️🙄
The plan is already prewritten.
@@BamaSquirrelimo. our money is being printed to oblivion to crash the dollar.
"Give a man a gun and he can rob a bank. Give a man a bank and he can rob the world."
Like it!
And they have been robbing us for a long time !
@@thetwogardens6048 People have a choice. If they choose Idiot's Way they have no cause for complaint.
@@dabbbles True !
@@dabbbles So whats the "smart" way?
Everyone's preaching doom, without any key data-trajectory on how to maneuver, it's obvious stocks are unstable but folks are still pulling off huge 6 figure profits from this same market y'all are warning us about, videos on such strategies to maneuver will really be helpful, thank you.
Well with the economy and stocks at where it is now, I'd be disappointed if people weren't making any error on their portfolio at this time, it was much easier to navigate during the bullrun, regardless I still see and read articles of people pulling over $225k by the weeks in trades, how come?
I noticed, a lot of folks are making huge 6figure killings in this downtrend, only just that such technques are mostly successfully executed by folks with indepth mrkt knowledge.
@Dan Brooks That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the invt-adviser you're using?
@Dan Brooks She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Here comes the Bots
My late mother was born in 1917, and lived through the Depression. She remembered when the banks closed, and the soup lines. Her whole facial expression would change when she relived it. I'll never forget it.
Wait until you see how this is something the WORLD has never seen before, we are going into a 3rd world nation. PPL have no idea what's coming.
@@GovernmentalDeception - 100% CORRECT !
@@GovernmentalDeception And they don't know what the vaccines affects are going to be down the road? It sound like they are going to have the sheep keep taking the jabs! Now it is time for their booster shots!
@@meiko_kaji Count how many you’ve received
My father too was born in 1917! He too told the same true stories and believed that "the whole world, in the future, is going to see a depression much greater than ever before". He would say it might not be in his lifetime but it is coming. They saved everything almost to the point of hoarders because of living through the depression.
I think if someone holds your money long enough, they'll think it's theirs 🤔
Actually that's stealing. Your notes are worthless lol.
@Armand Gunn not you, the imaginary building they kept it in they stole it an continue to be thieves.
Your money in your account is a loan to the bank from the get go..
The bank owes you.
But a bank could go bancrupt.
Then you loose your pennies.
Imagine, you buy a washing machine.
You pay in advance.
The company owes you a washing machine.
Now it goes into bancruptcy.
You will not get you washing machine.
Theirs! FFS!
@@turbolevo8703 lol 😆 Your set off easy, of course it was spelled incorrectly. It's called a mistake, ever have one?
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.
There are many other interesting stocks in many industries that you might follow. You don't have to act on every forecast, so I'll suggest that you work with a financial advisor who can help you choose the best times to purchase and sell the shares or ETFs you want to acquire.
As for me, I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
@@joshbarney114 Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems.
@@FabioOdelega876 Sure. My advisor is Colleen Janie Towe, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@joshbarney114 thank you for this tip , I must say, Colleen appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
I love that she never interrupts. Great host!
Man for a minute I forgot she was there.
Agree 👍
"G-reat H-ost" = Silent like a GHost
A talented interviewer actively engages with an interviewee. Staying silent is just giving him a platform to ramble on and on, and boy does this guy know how to ramble.
Beautiful, Smart and a most excellent host.
Writing a cheque to buy gold has a major drawback: the bank will know that you own gold. They should be prohibited from knowing what you do with your money.
Yep, remember in the 30's when gold was illegal?
That's what bitcoin is for
They would know a $$$ purchase was made from a certain company however wouldn’t know what precious metal was purchased. Credit cards are just as bad, if not worse, regarding tracking purchases. Fiat direct transaction to buy pm would be best.
@@fasnuf Damn right! Also think back to more recent era, when Nixon prohibited US citizens from owning gold.
What you are asking the bank is impossible.. when you go to the bank and say you want to buy gold. The bank immediately knows what you are doing with your money...
That's it! I am going to be closing my bank account and pulling all $123.88 out tomorrow.
I closed mine too yesterday.
I know right!
I only keep $25 (minimum balance) in the bank because that's all I have.
Just keep enough to pay your bills and that’s it!
Lol
When the plandemic was rolled out, I realised that it would be beyond stupid to leave my money in the banks, meagre though it is. When I went to the bank to empty out my account, the man I was dealing with, his face changed. His words were clipped, his face was hostile, he was polite in a very cold way. He said I'd have to come back with x, y, and z documents. So I returned a few days later, and the entire process was so unfriendly and passive aggressive it was as if I'd asked for both his kidneys. The atmosphere was icy to say the least. He was behaving as if it was his money I was taking away.
So do you just keep it as cash?
Exactly the same happens in Sweden if you try to do this.
Dealing with this for months the bank won't even call u bk on soo many levels.
Yeah I seen that face before I took my money out of Chase and they asked me what was gonna do with it can you believe that,They real friendly ,when they take your money ,and taking it out another different story.
I can’t believe people comply. What are you using it for none of your business is my answer 😳
Great info! This is about the fifth independent financial person to mention and hopefully prepare us for this possible situation! One thing I have learned, especially of late, is that the government is capable of ANYTHING! If you are an American and say, "This is America and will not happen here!" you are sadly deluded!
Lesson gleaned from a long, volatile life and applicable across the board:- If you ignore ANYTHING for long enough it WILL go away.
They have done it in Greece about 5-6 y., ago.
Not only America...Australia is following
Well DOH! The question is: WHY do you and people like you VOTE for politicians, and pay taxes-on-demand to feed the bloody things?? Stoppitt!
Dear Michael
This will not happen hear for the main reason, this would harm everyone including the politicians. That is the difference that you seem to be not considering.
My advice...buy stuff that you can use when you dont have money anymore...
bullets
Yeah. Land, guns and ammo
@@marcusmarshall2499 things that can help get food and water, and defense might be useful. Guns and ammo seem like the most practical thing at this point, but i have a feeling that there will be a very limited ability to fight back against what is coming.
@@dw-rh6fb Food, water, guns, ammo, emergency power generator, CB radio
@@dw-rh6fb Guns and ammo are for personal protection and hunting, not for overthrowing government. The only people with enough capability to do that are the same people destroying this nation.
One of the best quotes ever. “The financial market is supposed to reflect the real economy”. Spot on, the problem is now it’s so profitable to make money from money people are doing that rather than actually using money to produce something.
This has been enabled by governments as they held to account by the banks.
I have been out of the banking system for the past 10 years and have no regrets about it. My favorite words are, I'm sorry, I'm broke. Stops trouble and drama real fast.
How have you managed? I want to get out as well.
Skewing your investments towards gold and precious metals is fine and I have a bunch, especially physical gold and silver. However, many neglect even more tangible assets, like land, food, water, firearms, ammo, generators, solar power, tractors, means of raising food, tools, etc. Those items will be in short supply as society and the economy crumble under the fiat system OR they will be vastly inflated in price. I'm doing my investing in all those items.
smart!
But & Store Heirloom Seeds 🌿
@@whitestone2305 Yes, missed that on my list but definitely heirloom seeds too.
Question is, do you need to haul those physical assets with you if you need to leave?
So true...The best thing we can all do really, is become as independent as possible, and those assets offer that possibility..
I've been listening to David Morgan for years. He's a straight shooter who gives his best guesstimate on where things are headed based on his knowledge and expertise. This made me really sit up and take notice because he's not a "the sky is falling" kind of guy. God forbid his fears become reality. God help us if they do.
Buy things with cash!
When Obama was President he signed on to a Document at a G? Meeting allowing banks to raid your bank account in the event of a financial crisis. Do the research.
@@sandikennelly1357 yep. Everything is in place for them to steal our savings and livelihoods. And 90% or more of our sleeping populace is not even aware of it.
@@plazman64 Interesting you should say that. Around 90% or more of our fake news outlets are owned by Democrats.
@@sandikennelly1357 They're called bail ins which what a bank can do if it's in financial trouble with no other options. They did this in Cyprus.
Not only is your Currency at a bank potentially not all available to you during a banking crisis, but it is also being depreciated without the ability to move your currency into another asset class. That is a larger danger to your wealth. As it has been said, if you don't hold it, you don't own it.
And if you hold it, one swipe of pen can invalidate it anyway!. Any ideas?
So is it better to keep your money in your home??
The fin-Market;s have underperformed the U.S. economy as fear of inflation hammers the prices of stock;s and bonds. My portfoliio of $250k is down to $192k any recommendation;s to scale up my return;s during this crash will be highly appreciated.
I agree, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
@@Iris.Elizabeth-lv8ph that's heavy! I could really use the exprtse of these advisrs, my port-folio has been down bad....whose the person guiding
My advisor is "Frances Annette Batista" You can easily look her up, she has years of financial market experience.
And thank you Daniela for being such a great host.
My grandparents went through the dirty thirties, they also bought precious metals, but after the collapse, the US government declared all gold held by private individuals to be forfeited to the government to help pay out some federal debt. They did manage to put some by in diamonds…but not as much as they had in gold. Still, if the government decides to claim all saver’s monies, it seems unlikely that they would stop there and more likely that they would again declare all gold to be property of the government. They did it before. So, what protection do you recommend for keeping our gold?
LEAD !
Buy it offline for cash at a coin shop over time and no one knows! So more than likely the red flag and ID is required at what 9k?
Gold has NO value (as distinct from 'price': in DOLLARS!), and is no way to stash 'value'. The only safe storage lies in something that will always be NEEDED (eg food/energy/tools etc) regardless of WHAT happens. Such things can always be used to barter, or for your own personal use. Not a simple process because there are always other considerations (storage/volume/ fuel-availability, etc.), but nonetheless the ONLY way to go. (serious possibility: drugs, both legal and illegal.)
Don't tell.
@@dabbbles I mean gold has always been valuable for centuries. Maybe you lack common sense
If this is a bail-in video, I've often reminded people to take out as much cash as possible, since the banks can be a major liability, electricity isn't guaranteed, banks aren't always open, and bank runs lead to plenty of problems. I'd rather be my own bank since banks are a monopoly in how we receive income, and transact. BYOB Be Your Own Bank
Buy a dual fuel generator that can run on propane. It is much easier to store propane long term than gasoline.
@@huemann7637 true that but I'd be more concerned with an abundance of water, than electricity. Electricity is fully a necessity yet still a good idea
Physical or Vault ?
Dang....when you said "BYOB" I got all excited and ran for the beer.....then I read the last sentence....... LMAO.
You're right on my good man. BYOB, in YOUR grubby little hands!! :-)
@@jeanrichardvarre6062 physical, unless you can walk to your vault-provider. 2-3days walking distance because calamity is calamitous
In Argentina around 2000, not only did the banks freeze your account but they also devalued the Argentinian Peso while the bank was closed. It was 1 Argentinian Peso to 1 USD. When they reopened the banks - allowed you to have access to your bank account, your 1 Peso was now worth 0.25 USD. Therefore, if you had 100,000 Pesos (= 100,000 USD) it was now worth 25,000USD! Ouch. The bankers converted their Pesos to USD before that banks closed.
When David Morgan mentioned precedent and used Argentina as an example, he only told you 25% of the story!.
That was very informative
When you deposit your money into a bank, you have literally given the bank to do as they please with your money. And banks by law, only have to keep 10% of total deposits on hand! It's called fractional banking. If the bank goes under, what happens when the FDIC funds run out?
they only hold 1.25% LOL
Sounds like we're fvcked !
Floor safe, & gold
The FDIC funds would never run out cause the fed would just print more money. The money you get back in your account will return but it's value will have dropped significantly
@@gffilm From what I have read, the FDIC fund was raided by Congress back in the 1990s. And, even if the fund was intact, it only insures perhaps 5% of deposits, at most. The FDIC fund was designed for ONE bank failing, not a systemic crash
I’m in Canada and when I wanted 5 grand, I had to wait several days, up to a week sometimes. This is several years ago, they don’t have much cash on hand
I worked at a bank in Canada a few years ago, definitely true but there’s a reason for that, safety being number one, bank robberies / attempts still occur more than they should and for the fact that we would literally have no money for the next person if we gave everyone the amount they wanted. The resolution for this was just ordering it in advance and we would order it too from the head bank so as not to deplete our daily cash. If someone deposited a great amount of cash we would send it out ASAP again for safety of the bank branch.
Which bank? I tried withdrawing 10k from Bank of Montreal and had to wait 5 days but with TD I got it as soon as I asked for it. They said they always keep enough cash on hand.
Yup. We had to go to ((3 banks)) to get our cash out that we had previously deposited. We actually got in a yelling match at one bank. Every bank was mad with us and said as much. After that bullsh*t.. we know better than to put it all in the bank.
My son tried to cash a 3000 tax refund check but they wanted him to deposit it for a few days before they would give him the cash!
people will burn the banks down to the ground when SHTF and every 1 tries to pull some out
People think money is safe in the bank. History proved that when a country runs out of money they do take your money and give you an IOU note.
@@Jj-gi2uv Very True...
and do not let them muscle/threaten you to take your gold & silver. As they did 80 years ago
What is happening now concerning this in Guatemala?
No - they steal it by converting it to shares in a worthless bank and if you are lucky you couls get your mony back over say 20 years if the bank stays solvent.
the plan is to give you worthless toilet paper stock
Daniela is a great host, listening and asking intelligent questions. Thank you.
That's crazy about a month ago I went to my bank to withdraw a few grand and they told me they didn't have that much. I was like wtf isn't this a bank what a joke. I went to another one and withdrew almost all my money lol.
What are you going to do with it? That's the conundrum.
@@HappyCalmFree spend it on myself lol 😂🤣🤣🤣🤣🤣🤣
Yep. My employer demands direct deposit via third party payroll. So a LOT of people have access to my money before i ever do- and they think it is fine. Then i go to the bank to hear that they cannot get me a certain denomination- for only a few hundred dollars. I asked her if she thought she worked in a bowling alley. She said it all comes thru a vending machine. Inside a bank. I can go to the ATM 24 hours- what exactly is the job of a teller?
Same here!!🙌🏽
I know someone who works in the bank and they only can keep so much at a time. Someone else may have made a large withdrawal before you
Good man, the general public deserves to know what’s going on instead of distracting them with fear-based news that is vomited on us and we are expected to follow and not ask questions.
predictive programming from govt shills
I agree. It is irresponsible of our politicians who are voted to see to our security and to protect our rights via representation, to not give some heads up about being more prepared for the harder days that are ahead. People are going to panic and be left hungry and this can all be prevented. The conversations need to be had in a calm and appropriate means now.
Four Horsemen of the Apocalypse
Only way to Escape....Rapture ???
And always remember: It's not as bad as they tell you. It's worse!
Seal
From Argentina to you: While you couldn't touch your money in the bank, they converted your USD account into a national "Peso" one, and you lost 2/3rds of the value right there... These were all the usual international banks...
The Argintine government was corrupt and stole your money
I hear the US is going to do the same: take the dollars and turn them into toilet paper.
@@CosmicSeeker69 Digital toilet paper...
2003 it was I think. 5 Presidents in 2 months or something. I was there in Mendoza. Crazy time.
@@mauricelachance3556 December 2001, yes five presidents that no one elected!!!
Yup, $11000 seized on my birthday. Worse day of the year after losing thousands in the stock market. This system sucks. TAKE YOUR MONEY OUT OF THE BANK!!!!!!
Here’s the deal: everything they are doing now, they’ve already done. We’ve seen it. We know their playbook. You just have to look at history. They aren’t new ideas.
That goes for everything
Yup the Jewish and the Germans remember. And it wasn’t only the Jews , it was everyone who wasn’t part of the perfect German race.
@@Namedeeznuts yep but this time they will be targeting Christians not Jews. It’s written in the Bible. All the players are now officially on the field.
@@mr.nathan4972 not really because people were less informed then; however, they were stronger and knew how to survive. We no longer have those skills, which is why we are weak in standing up to them this go around.
@Tak D'Abo well, I’m only through to Daniel in reading the Bible so you could be right. 😂
I’m almost there. I’ve read parts before, but I’ve never read from beginning to the end, and really studied it, but I’m doing that now!!
I'm in a position to know. ATMs carry a small amount of cash, roughly $10,000-20,000. In Europe, the numbers are the same. Anybody who does not have a few months expenses in cash stored somewhere private and safe is playing with fire. If there ever is a run on a bank, after a single line of people, the ATM is going to be empty.
I mean yeah, but isn't everyone paying with a card anyway? Having cash is always important but I don't think it's the end of the world unless we have a blackout.
People like you dont seem to get it. Money won't save you if situations arise. There's 8+ billion psycho hungry meatsuits running around.
Simply put, If I have nothing and you do, you no longer have. Try me.
@@e.ts.235 Blackout can happen too. All it takes is some 'nuclear' event or solar blast.
@Stock Journey LOL, reality takes the wheel.
And REALITY is SURVIVAL. Something ignoramous bubble living folks have no clue how to do. Hell, if you are 30 years old or younger you dont even think.... your phones etc do that for you. Kumbaya? Nice hollywood look on reality you have there.
Seriously though, I'm going tomorrow and closing my bank of America accounts
Always remember that there was once a one hundred trillion dollar bill printed in Venezuela. And it is worthless. What this means is very scary when you think about it for any length of time, and shows just how powerless we are when it comes to the value of our wealth.
We, the US, wants to coin a trillion dollar coin. Sound familiar?
The ACTUAL shiploads of currency the Germans printed off (including Trillion-mark banknotes) in order to 'repay debt' demanded by the Allies after WW1 had the same effect. As has the 300-odd Trillion Dollar debt the US has racked up more recently. Time to act NOW.
@@dabbbles Yes. What's baffling me is how the value of the £GBP is falling against the dollar this year. I don't recall the UK printed as much money as the US, and our economy and stock market (FTSE100) is looking in much better shape than the crashed SNP500
@ArcanePath360 Endless wotifs: most of which we'd never hear about. A general guess must be that the whole currency thing is based on 'confidence'. eg the 'confidence' that non-existent Craptocurrencies - AND gold, AND cheques AND even cash have 'value'. They don't, of course: note that(eg gold is 'valued' in dollars; so buying gold to avoid a dollar-collapse is idiotic!) but enough hype (and fervent 'faith', as in 'religious faith') can achieve almost anything. Except reality! Personally (and I'm a bloke who ALWAYS keeps alternatives to hand and options open) I'm convinced that the whole 'thing' is vibrating itself into fragmentation and that therefore NONE of the 'standard' parameters apply; and certainly won't apply in the near future. Fortunately I grew up in a world where independent endeavour was the ONLY option, and that 'instinct' will serve me well into the future. (Moreover, given modern technology in it's most useful forms such options are more widely convenient, and efficient, than ever before.) Happy to discuss if there's any interest. Tread carefully!
Interesting! After the Afghanistan debacle, we have gone from the most powerful military in the world and the premier superpower, to our allies questioning what our promises are worth. This is probably the way it will happen financially. Everyone has a vested interest in the Emperor's clothes. Once someone points out that they are naked, you can't unsee it.
Now everyone is finding out what Native Americans learned along time ago, America's treaties ain't worth the paper they're printed on.
We were infiltrated by enemies and they been subverting us for decades. This is modern warfare. Infiltrate, indoctrinate, demoralize, destabilize, cause crisis, and then normalization AKA military take over. We no longer have politicians or judges, teachers no they are enemies who work for a totalitarian regime and they managed to pull this off in most countries around the world. While we promote democracy through war we are actually creating the stage for the NWO. Only way this stops is lead. Anything else will either do nothing or make things worse.
Hahahaha perfect analogy
@@vikinglife6316 Yes over the last several decades all our institutions were infiltrated by people pretending to be just liberals. They were never really just liberal. I'm 68 years old and can't believe whats happening to America. My country is occupied by the enemy. America is being destroyed before my eyes and the people doing it are very wealthy, very powerful, so I can't do anything to stop it. Writing letters to my congressman won't do anything. Voting won't work when the entire system is corrupt.Tragic.
@@vikinglife6316 - Fiji Jamaat-Ul / Islam of America / 373 Alta Vista Dr ... - MapQuest
373 Alta Vista Drive
South San Francisco, California 94080 Be ready ! Be prepared !
" sleeper cells, " and " no go zones " are located all over USA and waiting for the signal, for the massacre !
I've been keeping cash on hand now before I loved the idea of just using a card to track things. In CA we keep having wildfires and we had no access to gas, banks, atm machines, banks or stores during the Carr fire. Very scary, I was lucky I had some money on hand and gas in my car to evacuate. This video makes a lot of sense for more reason than one. Be prepared, You never know. Better safe than sorry.
Good to keep a 72 hr kit
I keep cash on hand ALWAYS. Just in case. I always keep two full cans of gasoline, and at least 1/2 a tank of fuel in my car at all times. I try to make sure I fill up every three days. I also keep at least a month of food. People think I'm NUTS, but I'm not, I've just seen hard times when I couldn't eat..i always made sure my kids had food, but I would go for days at times. Ever since then i won't do it again.
@@KM-nq7ez always have them lol! If I could afford more than a month worth of food at a time for a family of 5, I would. Now, we can certainly stretch that if needed to probably a month and a half or 2, but I also keep propane for various purposes, hunting necessities, fishing gear, books for plant identification because I am NOT a botanist by any means, but we try to make sure that we'd be alright if things got crazy. At least for a while. Everyone I know USED to think I was a complete fanatic, but over thr last month they are seeing the light more and more. Scary times for sure
@@libertybell8852 i was raised on an island that get hits by crazy cyclones and floods. We were taught at home to prepare for 1-2 months always including cash.
@@libertybell8852 Good for you, Toots! And apart from the 'precautions' angle you save some money, because everything you buy NOW will be more expensive later! Where were you when I was looking for a worthwhile wife back in the day??? Sigh! 🧐
Do you recommend I pull all my money out of my bank accounts? I’m on the verge of doing it but how does that work when you’re only allowed to take out 10,000 at a time? Do you recommend doing this?
They wouldn't have created the 'Bail In' if they weren't going to use it. In Canada we've been told when we asked the bank directly is that it is everything over 100K. Sounds like it's time to review the situation again.
One of your best-ever videos--although all that I've seen are great! David's thinking and your questions make for thought-provoking information.
They can’t seize what I ain’t got
Ain't that the truth
😂You poor maufaks
True. I don't have it they can't get it.
EXACTLY
Lmao
My wise grandma warned me 30 years ago that this would happen. I have never had a bank account. I knew she was right.
Our grandparents are (where very wise) my grandma told my aunt to can can can food because one day there won't be any! Indeed scary times!
The problem is cash money will soon be worthless. The writing is on the wall. Everything will be a digital currency and a global one.
Serious question. How can you go threw life without a bank account? I understand it is doable,but the extra steps and fees would get so frustrating. Also your money isn't insured.
When the Man, the Guru, makes his comment live from a car, you know things are about to get real busy!!! Beautiful spirits and minds, these 2 humans...
😃😍😍
B
Ùîù ūu6u797 Andres 48u7j
The great reset
or his wife kicked him out
I have to say that I'm always so impressed with the caliber of Daniella's guests, ............most are not trying to sell us anything, (maybe a little ego stroking with one or two) but many seem to feel it a kind of duty to give us ordinary folks some kind of 'heads up' on what's going on. I'm 100% sure they've done everything to protect themselves, and good for them, ..........but I'm just grateful that they can find the time and the empathy to help us little minions know what the **** is going on !
Thank you Daniela for bringing this amazing man on for us! Love you, wish all the best to you and your viewers.
Here in Europe (Germany, to be specific), we know from the last U.S. bank crisis that U.S. banking ripple effects have the power to pull us right down the drain. So the potential threat being pointed out in the video equally applies to Europe/Germany, and since Covid restrictions are already messing with a lot of peoples‘ earning ability, the threshold of pain in case of bank runs or shutdowns is likely to be very low. The craziest thing, though, is that nowadays most banks are - or will very soon be - charging negative interest charges (!) for any bank balances of over €50,000! This means keeping cash in the bank is not rewarded, but rather penalized, rendering it nonsensical to keep your funds there. In other words: Folks, get your cash out of the bank so you have something real in hand, instead of being charged for keeping it in the bank with all the risks attached, as outlined in this helpful video!
In Denmark negative interest rates are -0.60% of everything over 100.000 Danish Kroner. (over ca. 13.400€/ 15.300 usd)
@@awaytoanywhere699 Wow, that’s a sobering picture. All the more reason to get out of the banking system.
The problem is the pending dumping of ALL fiat currencies. No matter how much cash you've got you STILL can't eat it or even wipe your arse with it, as any wombat knows! It's NOT 'yours' even now.. the ONLY valid 'barter currency' to hold of ANY value is stuff that people NEED in order to exist. eg 'Food'. (and, at my personal insistence, weapons. The time will come when a man will offer you the use of his wife and daughters for a bag of ammunition.
Banks are just a way-station for me.... payroll goes in, bills go out. Nothing stored.
I couldn't have said it better myself!
Same here
Good one! I do have a Christmas club account in my bank. I hope l can get my hands on it before everything shuts down or gets grabbed up!
Yup. Pay goes in, I put it all in my roth and bills.
I withdrew cash and they acted mad like why.. it took a day .. they think it’s there money.. just saying, HANG ON you ain’t seen nothing yet…
I tried to take a few grand out about 4 weeks ago, they refused.
Im doing it in small increments
@@JC-rd7ev yes! It’s scary what is going on ..
they are all crooked ;($/@s …
@@JC-rd7ev Thats not good they did that back during the 2008 collapse. Im going to take out most of what I have in there now.
@@JC-rd7ev really? For a few grand. I’ve made a few withdrawals and haven’t had an issue yet. Only time I did have issue was when stimmies were going out and I had to take all 20’s
This doesn't just apply to money, they can seize stocks, 401ks, pensions as well.
Thank you, both.
I'm 73 & all I have is in the bank but no where near $100,000.00.
But the loss of what I do have would hurt, a lot!
Because I'm homebound, all of my transactions are through my accounts.
I have invested in survival items & pray no storm takes them away.
Bless Y'all, for easing my mind.
💞~👵
Hi Pat. Consider taking the bulk of your 'wealth' out of the bank and putting just enough in to cover you plastic payments. The larger problem is finding something 'worthwhile' to do with what you've withdrawn, because 'cash' has a limited lifespan (in the face of many threats): the greatest of which I see as being hyperinflation. But of course THAT would wipe out the money in your bank-accounts too. It's a scary time for all of us. I'm about your age, and gain a lot of comfort from the realisation that the great advantage of old age is that consequences don't matter! Keep smiling!
@@dabbbles well canned food would be worth loads more in most situations than hyperinflated (worthless) papermoney/bankaccountmoney
When is this video from? (Date?) Thank you!
I pull most my money out every payday, minimum wage keeps me pretty poor anyway. Grateful I have skills to barter with
Yeah negotiating skills work great, esp when you can trade with labor instead of your silver/gold stack
Look into bitcoin
😍
Minimum wage keeps you *broke*, being broke is a state of being, being poor is a state of mind. Poor people dig their own graves while those that are broke can change their circumstances
Got any pics of your skills?
Banksters have had their time and banks are obsolete anyway. It is just a matter of time before the vast majority of the population realises that.
I do hope you are right and people do not suffer too much from their criminality. I am as best prepared as I can be.
Unfortunately, realizing it and being able to do much about it are vastly different things.
You are right but they don't and that is deliberately done except that we see here you will never see it on the mainstream media. and we know why.
YES. ITS JUST A MATTER OF TIME. 😉
yeah but the banksters are not the real scum. The real ones are the central bankers........
David Morgan doesn't need a bookshelf behind him to lend credit to his message :) Great jewels of informations coming from a humble venue.
One scenario I haven't heard mentioned is when some sinister power desires to force everyone into digital currency and therefore forbids gold and silver ownership.
When this thing all started I tried to get 10k from my bank and they told me to come back in a week. They had to order it. I said, "order it?" Cash is fleeing out of the banks at an alarming rate.
i tried to get similar amount maybe late last year and got the same response.
Thy took everyone’s money in 1929, why would thy not do it again
How did the take everyone money ? Are u taking about the market crash or else I can my find the stock market crash.
@@mateoharmiss5830 they closed the gold window, confiscated everyone’s gold, devalued the dollar and reopened the window some years later
Technically they’re stealing money from all savers simply by printing more of it without truly increasing productivity
Umm... No they didn't!!!!!
@@nichole2757 @Nichole true, except the devalue of the dollar. The FED devalued gold & increased the USD by 30%
@@SelfEvident exactly
My dad heard them say on the radio, the guv was going to seize 401ks to bail out the guv. It wouldn't surprise me.
Yes, many people are waiting for this to happen
The gov can just sell T-bills and print up the money and bail itself out. The only possible thing to stop them in run out of larger numbers or run out of paper and ink to print up more dollars. Print Joe Print.
Trillions in retirement accounts and they want it
And there will not be anything that the middle class can do to stop it. The super wealthy will be exempt, and the welfare class could care less.
@@joeschmo5021 You are right!
I’m 79, my husband is blind. I’ve been wanting to go from the bank to gold or silver but don’t know how to do it. Don’t trust the banks and want the little we have to be safe. Please help. Where do I even go to get gold or precious metals? How do I get info from you. Thank you. Trudeau freezing our accounts in Canada scared everyone.
If the Federal Reserve & the government can print endless amounts of fiat currency, why do people have to pay taxes?
If there is no school, I want my Tax money back. [ retro-active]
So they can control you. They don’t want you to keep the money they printed. That way you keep selling you out.
0.o Good?
It's a game!
So we can pay for them to live rich with the interest we pay.
He's referring to the 2010 Dodd-Frank Consumer Financial Protection Act ...
It now stands as THE most deceptively-named piece of legislation in the history of the U.S ... but as I recall, depositors who hold shares in their bank are not subject to bail-ins.
credit unions?
@@followthewayTRUTHlife Nope - I'm with a credit union also. An inherent problem with credit unions is that they ARE NOT too big to fail ...
In this totally insane world, your money is actually "safer" with a bad-reputation bank like Wells Fargo ... that's why I hold my savings outside the system in G&S.
David Morgan is the truth that US residents needed to hear. I heard loud & clear!
This is why you don’t want to put a lot of money in the bank.
@Are You Ready gold silver and bitcoin and if you can get your hands on some cash flowing assets
@@beyondhorizons3791 💯💯💯💯
WHYTF would anyone want to put ANY money in the bank at all? hehehehe. Safe-keeping???
GREECE IS A GREAT EXAMPLE OF WHAT COULD HAPPEN IN AMERICA, Im looking around and concerned about the growing homelessness and the hosbitals being over run forced vaccines or loose your job, military being segrated by conseritive or liberal.
More like Zimbabwe
Here is what he just basically said. The "House of Cards that is America" will come tumbling down. Not a matter of if but when. This nation was built on pure sand and a lot of the world knows this. The deceit became more powerful when we were taken off of the gold standard to fool the world that we are richer than we actually are. Now, the money is made up with technology and laws, basically words, but it is backed by absolutely nothing but our "American" name, which is worth absolutely nothing at the end of the day. You are only as powerful as your people are willing to believe you are! America used to create amazing products, now we are just amazing at marketing a huge lye, which will always come back to bite you in the end.
@@tonyd2754 The dollar is backed by the military and CIA. Has China and Russia caught up to us in technology or not. That is the question.
@@one4change4thebetter,
Israel is actually the technology capital of the world, and they will steal technology in a blink of an eye!
Yes, we are many worrying about those things..!
The thing is that as scarry as it sounds, no matter what happens and what is taken away from us we will always be able to figured how to survive without. By nature we are survivalist creatures. So when it happens, cuz it will, don't freak out. We are smarter then our Masters think we are. Focus on survival and organizing with others. The worst that could happen is that we go back to live like cave man but we will be free for the first time. .
Wonderful sense of optimism~luvvit! And you're half right: Natural Selection has brought us to the here and now over 4 billion years. But our species is way beyond that ~ and far too populous to make any perceptible solutions work in survivablilty. For that you'd need to rely on your primitive (cave-man) instincts. Keep in mind that the ultimate survivor (here since 100 million years BEFORE the dinosaurs arrived) is the cockroach. They've adapted endlessly. But we're not that intelligent! :)
Why does it sound like you’re so willing to roll over like a puppy, as if you don’t really care if your money is taken?
It sounds more WRONG than scary. Stand up for what’s right, it’s totally natural that we’ll survive if we want to.
@@jtheiny To hell with. 'Standing up', it only makes you an easier target. Lay flat, with a scope-mounted hunting rifle and take your shot from behind where-ever possible!
@@dabbbles haha! Oh I’m ready for that too! Definitely not going to bending over either🤣
No, we will not be free because the gov. will own the caves and charge rent...just sayin’
I’m frustrated all this continues I have my metals and cryptos am out of the banking system only use them for paying bills we need manipulation of markets to end soon
End the fed
Yup, and the Fed Reserve is actually a private entity😤
Where do I go for both you mentioned
@@KingJesusPaidForSins where would I find that.
@@GodisAlliEverNeeded54 Silver and especially cryptos will be worth a lot after this season. :)
@@GodisAlliEverNeeded54 Jumping from the pot into the fire. There are better ways. Metals and craptos have NO intrinsic value at all.
True. I lived it. In Argentina the bank took all the savings I had in USD. I was not able to get any of it until they reopen and gave me devaluated argentinian pesos instead. I was young and I didn't get a warning. This time I am going to be prepared.
Sounds scary. Thank you for sharing. What would you do now differently ? Any advice?. God bless
The reason to hold gold (and silver) is to return the same purchasing power you purchased it with. Expecting anything else is using it to speculate.
Excellent point
But, why hasn’t gold increased to like 5K by now…
@@southernaffiliate6326 because gold isn't scarce and its manipulated its a centralized currency
@@southernaffiliate6326 because the fed is printing cash and everyone is pretending everything is fine. Then one morning, they lose faith in their ability to ever be able to call in their debts (because quite frankly things are Alice in Wonderland) they can't finance their deals, and the whole house of cards collapses.
From Canada: I just keep what I need to cover monthly expenses. The rest of the cash is out. Holding gold and lots of silver. Lets me sleep at night. It's all untraceable.
But come the crunch will the corner shop or supermarket accept silver or gold? How will you take change from them and in what form?
@@stevejames5900 Perhaps there will be a business opportunity minting micro coins from an Oz coin. Who knows but I'm sure something would evolve although I do think that Bitcoin is already the answer.
@@stevejames5900 silver can be exchanged for cash in small increments when you need it. People will always want to exchange cash when cash is devaluing quickly.
Gold comes in 1oz coins, these will require you to relinquish more of your wealth to cash so you stock piles value will diminish faster.
@Ditsla Comal Datsunan And AR-15s + plenty of boolitts.
The banks have long been known to not have the money on hand . they rarely cannot cover their reserve each night without borrowing from other banks!
6 months later and what your sayinPg then is happening now. You absolutely nailed it guys . That's exactly what there doing now. Bail ins. Get your cash out of banks ASAP. When you're money leaves your hands its not your money anymore.
It seems to be with this Covid crisis that Govt spending is absolutely out of control. Govt debt in Australia is at unprecedented highs we have never seen before. Surely there has to be a day of reckoning and if there is, what then. Good luck everyone.
There is always a day of reckoning..
Hi
@@brendadowns6819 hey Brenda
It is all part of the planned great reset.
And in the USA.. and in Canada...
Gold is the watched pot that never boils. If you have a time horizon of 10+ years buy it, stow it away, and forget the day to day pricing.
you need 100 years in gold considering if you bought 10 years ago you would be in the same stop today
BUY BITCOIN!! GOLD is dead
@@Justin-ru4jr actually Xrp Algo Solana ADA
Best to have physical gold, silver, cryptos, and cash on hand. IMO
buy farm land, better than gold
Why would they need to physically grab your deposits? All they need to do is to print more money - it amounts to exactly the same thing.
Dont you suffer more personally if they seize your money
They'll take your money .. as well as ask you if you'd like a loan ... Then they'll print more money and tell you its "just for you" ... fukn crooks
@@thefraug3827 - Sure, but if they take your actual deposits you will feel aggrieved and not vote for them again. If they steal your money by printing more most people are too stupid to even realise it’s being stolen from them by the government.
Maybe they will do BOTH
Also. The Banks do not print money. So it is a civil war between the FED and Banks??? IDK. So the FED will Blame the Banks. That is what DC does Blames everyone for what they cause.
Does this apply to big banks like capital one bank, Truist bank, Bank of America, fidelity, TD bank, Schwab?
"David Morgan is a recognized industry analyst in the precious metals market and consults for hedge funds, high net worth investors, mining companies, depositories and bullion dealers."
Economy is broken too..low paying jobs, little growth, little expansion. They say everything is fine. We’re f-ked.
Yea everything super expensive and we barely earn anything. If i want to go out and eat i have to work a whole day for that. For food bruh??
Definitely f==ked, all the way from the United Kingdom 🇬🇧.
An answer I have never yet heard.
If we become cashless (which I would say is inevitable) and there is a block on access, what do you actually do with your gold regarding payment of bills and general purchases?
In other words how do you spend gold?
Your not gonna be worried about bills when the hoards of peasants come picking thru.
Exactly
Barter
@@timetravela890 thats funny because even the rich will be reduced to peasants
...and the Black Market will thrive!
thank you both for the video
I think David is 100% right but the timing and the magnitude of this crisis is difficult to forsee
exacto....
just be prepared....be prepared big time...
And, keep a. Close watch on your account, know what’s going on, day by day…..
Been a year. Not seen yet
Let's not forget the regulation of digital currency once the FED does go digital. Segregation is not just a race or economic issue. It is a societal one. It pervades every single aspect of our lives. Those who are smart realize this and begin, many for the first time, to shake it off and look at the world with fresh eyes for what it really is. That can be a frightening experience for sure, but IT IS NOT an unmanageable one. Pretty good advice here Daniella and David. Well done.
Store your treasure in heaven! Where the streets are paved with gold!
Forget money. Learn how to purify your own air and water. It's time to go back to basics.
@@bgiv2010 I agree with you completely. I almost pray for a complete failure of the system that brings us back to the dark ages. My grandfather used to say about the world today is that they’ve made it too easy to get water, meaning in part people don’t appreciate what they have. If people are worried about growing their food and gathering their water they don’t have time for the BS. College students in America complaining they are oppressed is a perfect example of this.
@@danodonnell7218 Y'can't eat gold; nor even wipe your bum with it. How many gold teeth can you use: here OR in heaven?
@@dabbbles well
that puts everything in to the light Lil
Reality is
God friends food/ h20.
Leaves may become a commodity Big leaves
Once I wanted to buy a Jeep from a private party. Had to order the cash from the bank, and was told to keep the receipt in case cops wanted to cease it as drug money. Like damn.
Scare tactic
@@gregmiller8656 no they will lol and if you can’t prove it you will have sue to get it .
@@gregmiller8656 Cops routinely ask travelers if they are carrying any large sums of money. News stories of guys driving across country to buy a car with cash getting robbed by the police under "eminent domain" Literally legal thievery.
The police will absolutely 💯 % take your money. Not charge to with a crime or arrest you. And make you have to get a lawyer, and prove you didn't commit a crime. And legal fees will probably cost you more than the police stole from you
@@disabledchatzen5276 It's happen
How am I supposed to pay my bills without a physical checking acct? Not all billing acct’s are local enough to go to them with cash in hand.
Even then, how do you cash a paycheck without a checking acct?
What if you receive government annuity or pension, how do I get my hands on that when required to have direct deposit?
Let's also talk about how you don't own your stocks either unless bought direct from company..Cede & company owns title to your stocks from my understanding.similar to being an unsecured creditor on your bank deposits😟
For stock ownership you'd need to acquire your stock certificate from the broker to take physical possession of stocks you own.
Holy shoot this is new to me ..
Good video
I got out of all stocks too. I am very angry about pretty much everything about the financial system.
A fireproof safe & a fireproof bag /envelope are a must have
Exactly
Yes indeed!!!
💯💯💯💯
Do you have a company you would recommend for a fireproof bag?
Which brand do you recommend ?
They can have it. It won't be worth anything anyways and at that time money will be the least of our worries. Will we have patience and compassion enough to come together and work together in a community type setting where we all help one another live off of the land together becoming bartering farmers, where money has no importance.
Until your community is struck by the 'tragedy of the commons'. Community may happen. But it always fails when some consume more than they contribute.
You got that right, kinda sounds like what’s happing now.
uh...huh..... people. will not. do that.
they'll run around looting first!
I just don’t get the gold and silver deal. Are you going to take a gold bar into the grocery store to pay for groceries?? Are you going to take silver to the utility company to pay for your utilities?
Your not very bright are you?
I couldn’t even imagine few years ago to see big streams and interviews from home and a car 👌✊
Haha
Cars have decent audio isolation, actually haha
Not to long ago I was sitting under a tree next to the barn and picked up a little plastic box. Pushed some buttons and talked to my sister in her home 997 miles away. Still blows my mind. :)
@@johnvanegmond1812 🤣👍😉
I read Greece was only supposed to take 30% of peoples savings & they wound up taking 50%. Im not sure if it was accounts over 100,000.00 or just every one in general.
People were retiring at age 53 in Greece & the country went broke because there wasnt enough people paying in & too many taking out.
You read wrong. No bail in occurred in Greece. You must be referring to Cyprus. There was a bail in there for amounts over 100k.
yeah well now other countries pay so people in Italy can retire early (60) while we are ranging from 68-72yr when we can finally retire here in Denmark (slowly increasing over time so the younger you are now, the more screwed you are later) working til you die is becoming a trend
I'm new to learning this. If you put your money into physical gold or silver held by an institution, what's to stop them from not giving it to you if it hits the fan?
@@kimbuck-2 yeah.... : /
We're good, I just checked, the sky hasn't fallen yet.
A man who lived thru the depression said that the banks just kept the mon y. Sounds relevant, and scary today. This wasn't talked about in my college economic classes. Just wondering if credit unions are safer.
Yeah, great question. I was also wondering about the FDIC (insurance)... Don't they guarantee Our Money in those Banks?? 🤔
They are all the same thing!!!
The United States of America Inc is Bankrupt since 2018!
It gets worse! It used to be that ~ whatever the circumstance - you could always get money out of a bank if you asked for it loudly.. and showed them your gun! (True: banks used to hold about 40,000: back when first prize in Tattslotto was 10,000.) But these days (as ONE aspect of the fucked-up politico/financial manipulations) they just don't hold that sort of money. (because it just doesn't exist! except as 'debt' to be repaid over the years . Like a mortgage, for example.) Hence the 'Quantative Easing crap, aka printing more and more money (but ONLY as numbers in ledgers); which becomes less and less in value the more you throw in the pot. Time's long overdue when anyone with a brain would get RIGHT out of the system altogether. Not easy, but CAN be done.
They aren’t they are private and exempt from complaints by CFPB
I don't know, the more I think about the premise of his entire theory, the more questions arise. Does this also mean that we don't truly owe mortgage, credit and car payments? Because this is debt that I can't tangibly see?
Some say yes and that’s why our birth certificate is a bond that has a account and on the NYSE . They just don’t let us know it and that there is ways to Wright all your bills off to be paid by that account or the government itself. I haven’t tried it but feel free to look it up . I know my BC is there as a bond , I looked it up 🤯
BINGO
It’s true
We’re all just playing with Monopoly money and little toy card and thimbles, the people own nothing in America anymore. The USA is now what’s known as an Oligarchy, a small ruling class controls and owns the country and all of its assets.
When I wrote my comment, I thought that it proved how outlandish his concrete concept was regarding money. I didn't think that it was even a possibility to declare money or debts as non-existent because they exist solely "on paper" or not in hand, or pocket. What's this about birth certificates and public trading? I seem to be a "babe in the woods" in this conversation and I'm interested in hearing more about these topics.
David Morgan is the man!
In Canada, how do people protect their RRSP's and allocate the funds appropriately to circumvent excessive taxation?
You can't....you've been had already!!!
You need to ask that question in Canada. Different laws then US.
@@couchphotography8861 Who? Me?
@@calicokat4172 @Calico Kat 'Laws' my arse. Just DON'T CO-OPERATE. Simply DON'T pay tax. About 60 years when I realised they'd deducted 'tax' from my first job I simply changed my name (legally documented) and didn't tell them. Haven't been bothered since. And NOTE:? If you're careful not to leave a trail (becoming harder due to electronics, but still possible) there's no way they can fit you up with an Al Capone frame. No doubt they'll catch up with me one day, but I plan to have my heart-attack about three seconds before they storm up the driveway. God is, indeed, good! (and I'm a devout atheist! :))
Getting advice on how to avoid the abuse of bankers from a scion of the Morgan family is ironic indeed.
I remember when The Greeks were only allowed to withdraw so much a day.
60 euros
Yes, less than $100
ice-9
Every fiat ever....every single one....has gone to zero. It's just a question of when.
This is why we have FDIC insurance. If that fails, then holding gold or silver will not help because the government will simply seize all precious metals as it did in the Great Depression. Best bet in a total collapse is to hold real items you can use to barter for other items. Things like food and medicine and ammo.
I’ve been warning people about the coming bail-in for the last five years, at least! I sure hope they listened.
It has arrived on the stage of America now.
More fool them if they are not listening
So what do you do
@@rosheelize5657 Stay out of the banking system for starters. Leave as little money as possible in checking accounts firstly...zero, if at all possible. And secondly, if you’re trying to save your money, then just store it as gold and/or silver. Don’t put your savings in the bank and leave it there, like a fool.
Buy gold and guns