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Your Money In Banks Is Not Safe, Plot To Seize Depositors’ Money Discussed In November 2022 – MIT Phoenix

In the modern era, money has taken on many different forms, including electronic forms such as digital currencies and payment systems. The rise of electronic money has led to increased convenience and efficiency in financial transactions, but it has also raised concerns about security and privacy.

Today, money continues to play a central role in the global economy, with governments and central banks responsible for regulating its supply and maintaining its stability. The evolution of money is an ongoing process, with new technologies and financial instruments constantly emerging to meet the changing needs of individuals and businesses.

Throughout history, many empires have debased their money by reducing the amount of precious metal in their coins or printing more paper currency than they had the assets to back it up. This debasement was typically done to finance the empire’s military conquests or other ambitious projects, as well as to cover up underlying economic weaknesses.

Debasement typically occurred in one of two ways: either the rulers would add cheaper metals to the coins, such as copper or nickel, or they would reduce the amount of precious metal in the coins themselves. This would allow the rulers to produce more coins and spend more money without having to mine more gold or silver. Similarly, in the case of paper currency, rulers would simply print more money, without actually increasing the underlying value of the assets that the currency represented.

The result of debasement was typically inflation and a loss of confidence in the currency, as people realized that the coins or notes were worth less than their face value. This could lead to economic turmoil, as prices skyrocketed and people lost faith in the ability of the empire’s rulers to manage the economy.
That is not all.

Banks can use people’s money for bail in certain circumstances, such as when they face financial difficulties and need to recapitalize. This is because when people deposit money into a bank, it becomes the property of the bank, and depositors become unsecured creditors of the bank. In the event of a bank failure, depositors may lose some or all of their funds.

As for the statement that crypto is the best store of value, it is a matter of debate and perspective. While some people may believe that cryptocurrencies like Bitcoin are a good store of value due to their limited supply and perceived scarcity, others may disagree due to their volatility and lack of intrinsic value. Additionally, the regulatory environment surrounding cryptocurrencies is still uncertain, which can create risks for investors. Ultimately, the suitability of cryptocurrencies as a store of value will depend on individual circumstances and risk tolerance.

We can not overemphasize the advantage of self-custody over a situation where a third party like a case of a centralized body keeps your funds.

Long story short.

Your money in the bank is not safe.

The plot to seize depositors’ money was discussed more prominently in November 2022.

The systemic resolution advisory on bank bail-in refers to a set of guidelines and regulations that govern the process of resolving a failing bank in a way that minimizes the risk of financial instability. The bail-in approach involves using the bank’s funds, including shareholders’ and creditors’ funds, to recapitalize the bank rather than relying on taxpayer-funded bailouts.

The purpose of this approach is to promote market discipline, protect taxpayers, and maintain financial stability.

The Bank for International Settlements (BIS) has issued several guidelines and recommendations regarding liquidity and bank bailouts. One of the most important guidelines is the Basel III framework, which includes requirements for banks to maintain minimum levels of high-quality liquid assets to ensure that they can meet their funding obligations during times of stress.

Regarding bank bailouts, the BIS generally supports the use of bail-in tools, which require shareholders and creditors to bear the costs of resolving a failing bank, rather than relying on public funds. The BIS has also emphasized the importance of maintaining a clear and predictable resolution framework, as well as ensuring that banks have the sufficient loss-absorbing capacity to prevent the need for bailouts in the first place.

Manoka has been very vocal on this for the last three years.

Those who continue to trust centralized systems with their assets would only have. Themselves to blame.

In conclusion, your pensions, your insurance, and every other centralized savings entity are also on life support waiting for their obituary.

Mit Phoenix is the founder of Manoka.

 

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