17 Trillion Dollar HOLE In The U.S. Banking System.
From Greg M
Lions and friends…
There seems to be some confusion with the video I did earlier today titled “Banks Will Need AT LEAST A $17 TRILLION DOLLAR BAILOUT. And YOU Are Going To Pay For It!”
In that video I did not include bank deposits as assets, or as a part of bank debt. The bottom line is there is a $17 trillion dollar hole in the banking system, and it may certainly be much larger than that. For example, if you were to add in derivatives, these numbers would be many multiples worse.
During my live stream I will talk more about this and more.
GM
GM - Suggest you discuss the Dodd Frank legislation from 2010 that was approved by Congress and signed by Obama which changed "bail outs" to "bail ins", and, what it means for people like us who deposit money with banks via checking and savings accounts, etc. When people like us do this, we become "creditors" to whichever bank we have deposited money with. After 2008, I switched to Navy FCU since credit unions (state or federally chartered) cannot "utilize" derivative contracts. Ralph
thank you Greg for each post that you forward to us
as for myself..........i appreciate your hard work