negative interest rates on your bank account

In the last banking crisis the government used tax-payers money to bail out the banks. A lot of people were naturally very angry about that – particularly as million pound bank bonuses continued to flow to the very incompetents that had caused the problem in the first place. Now the situation is even worse because the next time the banks fail it will be personal and business deposits that will be used to save them – not tax-payers money.

That’s right – depositors will have their cash confiscated just like we saw in Greece.

This is happening at exactly the same time as the banks are reducing the “protected cash savings” in your account from £85,000 to £75,000. You have to ask yourself why would anyone do that?

Who bails out the banks next time? – Why you do, of course!

Nearly all of the EU countries now have the so called bank “bail-in” option in place. This means that when a bank or other large financial institution gets into financial difficulty the first port of call to prop them up will be the individuals and businesses that have money with that bank.

These new rules are called the Bank Recovery and Resolution Directive, BRRD for short – catchy don’t you think?

They are designed with one aim and that is to stop governments having to bail out any bank that gets into trouble by propping it up with YOUR money instead. Are you even aware of these new rules?

What happens when your ATM won’t give you YOUR money?

As always, banks and governments work on the basis that any money in the system is their money not yours and when your ATM says NO what are you going to do?

Most people don’t even know these rules even exist and the European Commission is now threatening legal action against the remaining few countries that have yet to adopt the new rules.

This list of six countries to still adopt the new system are Poland, Luxembourg, The Netherlands, Sweden, Romania  and  the Czech Republic. No doubt all six will soon be forced to fall on their sword and adopt the new banking rules.

The £75,000 so called “bank guarantee” won’t protect you.

If you’re thinking “That’s OK – I don’t have that much in the bank and the £75,000 guarantee will ensure I’m OK” – well you could be in for a very nasty shock. If the banks get into trouble again there simply isn’t the money there to bail them out. Everyone is likely to take a hair cut. Rest assured that the rules will literally be changed overnight as the interests of the banks are put, once again, over the interests of the people who save their money with them in the belief it is fully protected.

Your total dependence on a banking system that is clearly in crisis from money printing and global hacking is currently one of the biggest threats to your wealth.

I urge you to act now to limit the damage.

Don’t keep all of your money in the bank.

It’s vital that you take the sort of measures I have covered in my newsletter to ensure you’re not totally dependent on the banking system for your survival. Holding cash and precious metals at home is considered by many to be a risky business. That’s simply not true and you only need to adopt a few simple measures to ensure that your cash, gold and silver are kept safe whilst still being under YOUR control.

A modern home has more hiding places than a pharaoh’s tomb and modern safes are small and highly effective (have at least two so the first is your “easy find” dummy should things go wrong).

I don’t know how many warnings you need but you already know that your bank account is currently one of the least safe places to keep your money. Start making preparations now to protect what you have worked so hard to achieve in life.

Remember, there’s absolutely no downside to having your own personal banking system in place. If I am wrong you have lost nothing – but if the next banking crisis means you are going to lose some of your money to finance incompetent bankers and politicians then this is a warning you cannot ignore.

Ask yourself this: Why are governments putting these measures in place now? Governments are acting now to protect their own interests – and you should do the same!

 

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