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hi and welcome back to the channel today today's video comes by hugely popular demand in fact so many of you have asked me to make this video that i completely lost count and it is on bank bail-ins otherwise known as the legalized theft of your savings if you haven't come across my channel before my name is neil mccoy ward and i talk about the things that the media intentionally hides from you with an emphasis on finance and economics to secure your financial future so with that said let's jump straight into it then so what are bank bailins well you're probably familiar with bank bailouts from the 2008 crisis and recession that emerged where the government used taxpayers money to bail out the banks which became one of the biggest scandals in modern history so a bank bail in then is where the bank can legally take possession of your savings or your deposits and turn it into worthless banking stock and yes this is 100 percent legal the usa actually passed a law in 2010 called statutory bail-ins which includes extended powers to the federal reserve the securities and exchange commission and the federal deposit insurance corporation otherwise known as the fdic whereby bank holding companies and non-banking holding companies can be placed in receivership under the control of the fdic the imf my least favorite organization in the whole financial world as many of you know then produced a paper on the 24th of april 2012 which was all about bail-ins i'll put that on screen now so that you can look at that if you want to read through that so let me read this out to you this paper published on the 24th of april 2012 where a new plan was created for solving banking crises this included a bail in mechanism that they say and i quote aims to ensure that banks shareholders and creditors pay their share of costs the key word here is creditors that means you and it means i we are bank creditors and i'll explain what that means in a moment because just 11 months after this paper was published we had the first bailin which took place in cyprus in march of 2013. so what happened then well the bank basically bailed in 21 000 savers who had more than 100 000 euros in their bank account so these depositors here saw roughly 50 of their savings converted to equity making them 81.4 percent owners of an insolvent bank in other words they got scammed oh but we're not actually allowed to say that word that it was a scam instead let me just um read out what the official terminology that we're permitted to use here hold on i've got it right here a financial reallocation of collateral to neutral assets let's just change that up a little bit let's use the word useless instead of neutral a financial reallocation of collateral to useless assets i think is a lot more fitting because let's be honest who wants to own a bankrupt banking stock i don't do you but neil how is this legal i hear you cry out well when you or i deposit money into a bank that money is considered a deposit this is the key word deposit and technically and legally this deposit then becomes the ownership of the bank where they issue you a promissory note or if you want to make it even more simple and i owe you as far as the bank's concerned you have made a loan to them for which they give you interest there's the key thing there if you're receiving any interest on the money you've deposited even if it's 0.000001 that is considered an unsecured loan from you to the bank and just like any unsecured keyword here is unsecured loan that loan is at risk so after the success and i'll show you who uses that word in a moment of the bailin in cyprus in 2013 bail-in laws passed pretty much everywhere where we have modern banking systems in europe the bank recovery and resolution directive brrd was introduced in 2014 across the then eu 28 which meant the 28 countries in the eu in 2014 and this policy included a bail-in mechanism which they stated at the creation are you ready for this this is deja vu again aims to ensure that banks shareholders and creditors including uninsured depositors pay their share of costs but what share of costs why would a depositor have to take a share of the costs when a bank goes bankrupt the blame lies with the bank surely not the creditors so let me give you an example here to show the absurdity of this imagine that you get in your car and you drive to the mall and you park your car in the mall and you go shopping for a few hours when you return your car's not there it's it's disappeared but there's a note and the note says hey mr misses whatever and just let you know your car has been bailed in because the mall has gone bankrupt so we've classed your car as a deposit which we have used as collateral to help with the malls bankruptcy so you now own shares in our bankrupt mall congratulations can you see how absurd this example is and yet in the banking sector apparently it's okay and now you know why i dislike lobbyists so much if you're getting a lot of value from this video so far and there's even more to come can you please do me a quick favor just click that like button for me just helps the video to get ranked on youtube and why not subscribe to the channel if you're not already a subscriber so for those of you skeptics watching i know there's a lot of you and you think neil you're just scaremongering let me read this out to you the bailin was institutionalized in november of 2014 when the group of 20 nations so this is the g20 including the united states approved its use through the financial stability board the fsb what else did the fsb do they permitted the priority of the payment of bank derivatives above all other creditors this is outrageous ladies and gentlemen if you don't know about the derivatives market it's too much to cover in this video but it is one of the biggest scandals that exists in the world right now hundreds of trillions probably at last guess around 650 trillion dollars exists in the derivatives market and what this policy says is that when the derivatives market pops and it will mark my words it will eventually pop the banks and the financial gamblers get paid out before you do and you've got your politicians to thank for this based on all the lobbying that the banks do so in effect with bailin they don't steal your money because i'm not allowed to say that what they do is they convert it into assets but in my mind that's just a smoke screen because if you don't have a choice then to me that's theft that would be like you walking down the street and someone coming up and robbing you and stealing all the money out of your pocket because the thief doesn't have a watch and of course he needs a watch how else is he going to tell the time so you call the police and the police come and they say ah yeah the thing is the uh you know this thief didn't have a watch so there was no way that he could tell the time san francisco sorry just had a bit of a cough there but the police let you know that you still own the watch you just don't have any control over where the watch goes and by the way the watch is worthless anyway this is the comparison of what's going on right now so which countries have signed up to this bail in law you might ask well let me let me read this out the g20 argentina australia brazil canada china france germany india indonesia italy japan korea mexico russia saudi arabia south africa turkey the united kingdom the united states and the european union comprising of another 27 countries which i won't bore you with next the imf conducted a debt sustainability analysis and they figured out that there was no way that cyprus could have possibly bailed out the banks because the debt holdings were over 50 percent of the country's gdp so they said that bail in was the only option and quite convenient it came 11 months after that paper and they didn't have a test case yet what better country than a country like cyprus interesting who are some of the biggest depositors in the cypriot banks as well oh isn't that russia isn't that a lot of people in russia very interesting how all this connects uh you know but what do i know but imagine that the imf is saying that just two banks that's it just two were too big to fail and i'm saying that because if you think about cyprus that's just two imagine the united kingdom or the united states who have some of the biggest banks in the world so if they couldn't do it in cyprus god help us in the uk and the usa i've got to read this out to you as well because this just made me laugh the imf commended commended is in bold the cypriot authorities for the stabilization of the banking sector which it described as a major achievement that's from the imf and to add insult to injury here when the people that were bailed in went to the courts for justice over this the court sided with the banks honestly guys i can't make this stuff up and this is why people say that i am crazy for owning 18 bank accounts i see all the time people say 18 bank accounts you you are nuts you are crazy but why do you think i have 18 bank accounts keeping small amounts in each one because i do not trust the banks at all but i'll give you some recommendations later on about about where to bank but what about the fdic or the fscs you know in the uk the financial services compensation scheme what about these neil surely they'll protect us right so let me ask you a question because you know me i like to ask you questions to get you thinking do you know how much money is in these accounts the fdic and all the other programs around the world have you ever looked because i have and it's roughly 0.25 funded so that's 0.25 of the trillions of your deposits in the banks not to mention the hundreds of trillions that exist in the banking sector let me just say it this way to put it in plain english if the whole sector the banking sector collapsed there is absolutely no way that you are going to get all of your money sorry i just level with you here and just look at what happened in the 2008 crisis in the usa alone 1200 banks almost collapsed they had to go to the fdic for help and the fdic didn't have the money so they had to go to the treasury for the assistance so a question people often ask me is neil how do i know if my bank is high risk well i would say simply just assume that it is because it is pretty much likely that it is high risk if you're with a big bank any large commercial bank then it's probably high risk and if you're still not sure just look if your bank makes business loans and mortgages if they make business loans well look at the business sector right now is it healthy or are businesses collapsing on a day-by-day basis so what's holding it all up is probably the mortgage market in all honesty you know property prices are booming they're exploding right now because of all this new liquidity being created shall we say by the federal reserve pumped into the market or any central bank around the world it is the same scenario at play but let me ask you this what do you think is going to happen when the housing market turns negative and all of this turns around what do you think is going to happen because i've got a pretty good idea and this is even without considering the derivatives market or negative interest rates another red flag to look out for and again people ask me all the time what are the red flags well if your bank calls you and says that they would like to transfer your your savings into bank bonds that's one red flag right there if they say to you whenever you go in to do anything would you like to speak to one of our financial advisors so they can help you to get a better return on your savings that's another red flag again right there and if you haven't been watching a lot of my videos recently you've probably missed some of the other warnings i've given you such as when i've been going around to the atms and they've got no cash available or when i went to the bank to pay in cash and i couldn't pay in my cash oh and the bank's only being open for a few hours per day all of these are very concerning and suspicious if you ask me in fact one of my mentoring clients is a lady in australia and she booked a one-on-one hour-long session with me because she had six million dollars in the bank and after the session i mean she'd gone white already but she immediately booked an appointment with her bank manager because she wanted to look at how she could do something with the money transfer it do some of the things we discussed within the session this is what happened she was told she had to have an interview with a bank manager and it was not like you know two weeks or three weeks like it sometimes is it was the very next day first thing in the morning so she goes for this interview with the bank manager and she is told in no uncertain terms that she can only withdraw one thousand dollars per day from her bank account so she thinks it's a little bit unusual so she asked the bank manager exactly how long would it take then for me to transfer all of the six million out of the bank the bank manager looked shocked and he looked at her for a second puzzle but then said one moment and he gets out his calculator he punches in the numbers and says to her uh 16 and a half years 16 and a half years for her to get her money out of the bank so again this is a warning to all of you if you have money in the bank check the terms and conditions speak to the bank find out what their rules are right now are you withdrawing your savings again i'm not saying any of this to scare you i'm saying it to help and educate you to warn you about some of the things some of these crazy things that are going on in the banking sector right now so in summary then the banking sector is too big to fail they will not be bailed out with taxpayer money next time they will be bailed out with the savers money and the closer we get to negative interest rates the more likely this is to occur now i'm not saying this will occur at any time very soon i'm saying it is a risk so what can you do to protect yourself then well first and foremost definitely diversify your cash get it out of if it's in one big bank get it out of that immediately and move it into some smaller banks i actually like credit unions a lot better than the big banks but as i said before i have 18 bank accounts because i'm that paranoid about the banking sector and if you watch my great depression diary series that three-part series you'll see what happened during the great depression and we're seeing a lot of the same patterns happening today and if you're saving money right now in the bank you're already losing your capital every month in terms of purchasing power this is because every time the bank creates more currency which is where they print inflation into the monetary supply they actually weaken the value of the currency already in existence this is inflation in plain sight as much as i would love to give you a big detailed financial investment plan right here over youtube it is almost impossible to do so because you are unique every single one of you are special in your own different way and you all have different beliefs different values you live in different countries some of you love crypto others hate crypto some of you love mining stocks or some of you love tech stocks and there are so many different things to invest in that every single person needs a personalized plan for investing and as i always say i'm not a qualified financial advisor but people seek me out to look over their finances and their investments just to get a second opinion and just for me to look them over and say how i would change and reallocate that for greater safety greater security and for greater growth but i completely understand that not everyone has the funds for a one-on-one session with with someone like myself so here's what i would recommend and that is to come over and join our private community actually just made a post yesterday talking about the deleveraging of the financial markets how i think this is all going to come about and how the banking sector will one day in the future collapse as a result of the deleveraging process so if you'd like to read that post please just head on over to our private community i'd love to see you ther we are a very friendly community we all get on very very well and we're focused really on security for the future whether that's anything from investments to money to finance some people are interested in prepping other people like mining other people like gold other people like tech stocks believe me whatever you're interested in in terms of finance is in our community so with all that said thank you so much for being on the video today please click the like button if you haven't already why not subscribe to the channel and apart from that god bless and i will see you next time