MY major bank VP said that they had a plan to close all brick and mortar buildings when the collapse happens, and will go to a totally digital banking system as some banks already are, like USAA Bank.
There will be 4-5 major banks will be rescued (the too big to fail). These banks will absorb all other bank accounts from all other failed banks and balance thier books with a "bail-in" with your money. Anywhere from about 40-60% will go to the banks.
Yes and they will across the board, any financial institution (wall street) will suddenly drop 50-60% across the board and more, this will be the biggest transfer of wealth in 6000 years. This alone will kill millions maybe billions due to war starvation and disease this one event will cause.
I had to look it up: A bail-in is a form of financial relief for banks that are in danger of collapsing or going bankrupt. The relief comes from canceling some or all of the bank’s debt by reducing the value of bank shares, bonds, and uninsured deposits. (Note: The Federal Deposit Insurance Corporation (FDIC) insures most bank deposits up to $250,000 per individual.)
Some banks may be worried, but the big ones are not. The current unrealized losses are temporary, as the US Government cannot stand these high rates, and ultimately the Fed will do what it did in the late 1940s - ie lower rates while inflation rages. Few recall that in the late 1940s inflation hit 17% while rates were kept at 3%. That is just asset confiscation via inflation, but it will happen again. In the meantime, most banks will be just fine.
And a lot of banks are just shifting to doing more things on online because hardly anyone goes inside a bank branch these days. Why maintain staff and a building if your operating costs are more than what you are bringing in day to day?
Concerning the coming of our Lord Jesus Christ and our being gathered to him (Rapture)...Let no one in any way deceive you, for it will not come unless the apostasy (the great falling away) comes first, and the man of lawlessness is revealed, (the man of sin the Anti-Christ-substitute/imitation messiah) the son of destruction, who opposes and exalts himself above every so-called god or object of worship, so that he takes his seat in the temple of God, displaying himself as being God. (all this must happen first before the Lord comes to take His Church home). Daniel 11:36-12:2. Gives the clear time line in the events when we are taken home; we as promised escape the wrath of God (the bowl Judgements). Rev 16 -leading to Armageddon). It makes sense, we are taken to heaven for the Marriage supper of the lamb and receive our rewards (judgements) and on that day of the Lord, everyone left on earth experience their judgement Armageddon and all the bowl Judgements. God's perfect justice and timing.
Jesus said before He returns for His church He will sift His church from tares and Chaff. sift it. Judgement begins with the house of the Lord. How will He do that? Rev 13:7 6:9-11, Dan 7:25
Keep cash in a safe place at home. Start buying stuff now, stuff that can be used to trade for things that you will need later, food, Everclear... it will run in your car, and has many other uses, like wound cleaning, barter ability. Water, water filter, colloidal silver... super antibiotic. Silver, when paper is worthless, silver will still buy things, like a hand crossbow!
MY major bank VP said that they had a plan to close all brick and mortar buildings when the collapse happens, and will go to a totally digital banking system as some banks already are, like USAA Bank.
There will be 4-5 major banks will be rescued (the too big to fail). These banks will absorb all other bank accounts from all other failed banks and balance thier books with a "bail-in" with your money. Anywhere from about 40-60% will go to the banks.
Bail-ins terrify me!
Yes and they will across the board, any financial institution (wall street) will suddenly drop 50-60% across the board and more, this will be the biggest transfer of wealth in 6000 years. This alone will kill millions maybe billions due to war starvation and disease this one event will cause.
I had to look it up: A bail-in is a form of financial relief for banks that are in danger of collapsing or going bankrupt. The relief comes from canceling some or all of the bank’s debt by reducing the value of bank shares, bonds, and uninsured deposits. (Note: The Federal Deposit Insurance Corporation (FDIC) insures most bank deposits up to $250,000 per individual.)
Some banks may be worried, but the big ones are not. The current unrealized losses are temporary, as the US Government cannot stand these high rates, and ultimately the Fed will do what it did in the late 1940s - ie lower rates while inflation rages. Few recall that in the late 1940s inflation hit 17% while rates were kept at 3%. That is just asset confiscation via inflation, but it will happen again. In the meantime, most banks will be just fine.
And a lot of banks are just shifting to doing more things on online because hardly anyone goes inside a bank branch these days. Why maintain staff and a building if your operating costs are more than what you are bringing in day to day?
Michael
Get ready for the Rapture! God is not a God of doom and gloom.
Why do you suppose that God put 8,362 verses of prophecy on 1,817 specific topics in the Bible.
You overlook the over 300 examples of Deliverance before Judgment.
Chaos is reserved for the disobedient Jews and unbelieving world.
Pastor Bob
EvanTeachr@aol.com
2 thess 2
Concerning the coming of our Lord Jesus Christ and our being gathered to him (Rapture)...Let no one in any way deceive you, for it will not come unless the apostasy (the great falling away) comes first, and the man of lawlessness is revealed, (the man of sin the Anti-Christ-substitute/imitation messiah) the son of destruction, who opposes and exalts himself above every so-called god or object of worship, so that he takes his seat in the temple of God, displaying himself as being God. (all this must happen first before the Lord comes to take His Church home). Daniel 11:36-12:2. Gives the clear time line in the events when we are taken home; we as promised escape the wrath of God (the bowl Judgements). Rev 16 -leading to Armageddon). It makes sense, we are taken to heaven for the Marriage supper of the lamb and receive our rewards (judgements) and on that day of the Lord, everyone left on earth experience their judgement Armageddon and all the bowl Judgements. God's perfect justice and timing.
Jesus said before He returns for His church He will sift His church from tares and Chaff. sift it. Judgement begins with the house of the Lord. How will He do that? Rev 13:7 6:9-11, Dan 7:25
Question: Then, is it safer to keep money in a local bank?
Or, keep money in Bank of America, JP Morgan Chase ... type of big banks?
Keep cash in a safe place at home. Start buying stuff now, stuff that can be used to trade for things that you will need later, food, Everclear... it will run in your car, and has many other uses, like wound cleaning, barter ability. Water, water filter, colloidal silver... super antibiotic. Silver, when paper is worthless, silver will still buy things, like a hand crossbow!
Thank You So Very Much !!