Act Before the Bail-In: Now Is the Moment to Seize Public Banking

Rudy Avizius, • • June 15, 2013

…Most people do not understand that once you give a bank your money, the money legally is no longer yours. Under the law, you are an unsecured creditor to the bank and are treated as such in any bankruptcy proceeding. As an individual or as a public official, if you have money in one of the big banks, you have essentially given your money to that gambler and now you are a creditor to the gambler.

Read the entire article here.

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One Response

  1. I believe in putting money in smaller banks, and do so with a portion of my money.

    It would be helpful to know the financial status of a few banks in my area or even those in the Western Region of the U.S.

    I have to admit that I have not read this article. so, maybe the answer is at hand.

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