By Liberty Report Staff
Most people, when they "deposit" their paychecks into a bank, think that they're keeping the money in safe storage. After all, if you stored your money somewhere else, someone could steal it, right?
Well, you're actually making a loan to the bank. On the bank's books, they "owe" you the money back. Your money becomes the bank's money, and you become an *unsecured* creditor.
Oh you can get "your" money out ... up to a certain point. Ask for too much, and you're automatically flagged as being a possible drug dealer or terrorist. The surveillance state wants to know what you need "your" money for.
But what if the bank can't pay you what they "owe" you?
We've all heard of a "bailout" ... 2008 was a prime example of that.
But have you ever heard of a "bail-in"?
In 2013, the banks of Cyprus confiscated the deposits of many of their clients. There was no warning, and there was little in the way of explanation, except to say that it was “necessary,” as the banks had been mismanaged to the point that, unless the deposits were confiscated, the banks would fail.
Read more about "bail-ins" at International Man