Now, here’s a story you likely won’t see on the mainstream news tonight…
On 14 February 2018, the Federal Parliament passed the Financial Sector Legislation Amendment (Crisis Resolution Powers and Other Measures) Bill 2017…
** Only 7 Senators out of 76 were present for the vote (WTF!) **
This gives the Australian Prudential Regulation Authority (APRA) extraordinary powers during a financial crisis, including the possibility to confiscate deposits in order to rescue collapsing banks.
That means the power to FREEZE and then SEIZE bank assets during a crisis…
And that includes your savings accounts!
(All to pay for private banks that could likely fail due to greed, gambling, corruption and mismanagement – and some would say, complicit politicians).
Which is exactly what happened in Cyprus in 2013…
Under crushing debt, political turmoil, snap ‘bank holidays’, an emergency session of Parliament, more ‘bank holidays’, and cash/ATM withdrawals reduced to 100 Euros…
Bank of Cyprus depositors lost 40% of their savings over 100,000 Euros and Laiki Bank depositors 60% of their savings over 100,000 Euros!
Many believe that was just a ‘test case’ prior to the main event.
It came without warning for the people of Cyprus. Don’t let it come without warning for you.
You see, Canada, New Zealand, US, UK, all 28 member nations of the EU and now Australia have all passed similar ‘Bail-in’ laws…
… I wonder what they know, that we don’t??
One thing is for sure, when the next crisis does hit, it will be much, much harder to get your money out of your bank.
That’s why I’m really excited to invite you to watch this free, content-only, educational Webinar called ‘Make Australia Gold Again!’ with Jordan Eliseo, Chief Economist at ABC Bullion.
It’s pure education, nothing to buy, and might just save your financial hide!
In Gold We Trust.