This article comes from “citizens.news”
Deception is running rampant with regard to the current state of the financial system, which is poised for a monumental crash and collapse.
The Federal Deposit Insurance Corporation (FDIC) is well aware of what is going on, but is working behind the scenes to keep it from reaching the public in order to prevent bank runs, which will only accelerate it further.
Back in November, the FDIC’s Systemic Resolution Advisory Committee (SRAC) quietly held a meeting about how the next market crash will occur. During this meeting, it was discussed how to keep crash signals a secret so fewer people attempt to withdraw their money all at once.
“You’ve got to think of the unintended consequences of taking a public that has more full faith and confidence in the banking system than maybe the people in this room do,” it was stated at that meeting – watch below:
“We want them to have the full faith and confidence in the banking system. They know FDIC insurance is there. They know what works. They put their money in, they’re going to get their money out.” (Related: Check out this interview with Aaron Brickman, who says a “perfect storm” could lead to a stock market crash worse than 1929.)
America’s financial system is one “huge run” on the banks away from collapsing
It turns out that even the bankers do not trust the banks. They worry that the full extent of what is transpiring behind closed doors, unbeknownst to the general public (for now), will strike unexpectedly with full force because it is being propped up in secret until the appointed time.
Were the public to know the truth, it would lead to “unintended consequences,” the FDIC indicated at the meeting, urging those in attendance to keep quiet about the whole thing.
“I would be careful about the unintended consequences of starting to blast too much of this out in the general public,” one member stated.
Since fractional reserve banking does not require much in terms of actual reserves needing to be held in banks – in many cases, actual cash reserves at banks are zero – everyone withdrawing their money at once would decimate the system in an instant.
At some point, the FDIC admitted, there will be a “huge run” on deposits, which in turn will require the imposition of what are known as “bail-ins.”
“People need to understand they can get bailed in, but you don’t want a huge run on the institutions,” that same member stated. “But there are going to be. And it could be an early warning signal to the FDIC and primary regulators when these things happen” – watch below:
You may be familiar with bail-outs, which occurred in 2008 and involved taxpayers being forced to bail out corrupt, failed financial institutions. Bail-ins are a mechanism through which creditors of failing financial institutions are forced to cancel some of their debts as part of a plan to save them from collapse.
Once that time comes, the current “period of peacetime,” as it was called at the meeting, will “flip faster than we saw in 2008.”
More related news can be found at Collapse.news.
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