are coming between 2020 to 2029
After July of 2013, when bankers in Cyprus stole nearly half of depositors’ accounts at the Bank of Laika and the Bank of Cyprus in order to recapitalize these two Cyprus banks that had gone bankrupt after gambling with their clients’ deposits and losing their money on ill-fated investments, I decided to make a YouTube video to warn others that more bank runs and losses would occur in many more nations in the coming years. Many people from nations in which bank runs have since occurred since I published that video, in fact nearly 20,000 people, watched that video. And though every single mainstream media journalist referred to the theft of Cyprus citizens’ bank accounts as a “haircut” and refused to be honest in their reporting, I refuse to this day, to reposition banker theft as a “haircut”, because doing so would disrespect every person that had money stolen from him or her by bankers in Cyprus in 2013. Most mainstream financial journalists today are just puppets that repeat the narratives told to them by their bosses without any critical introspection or analysis, and referring to that crime as a “haircut” as was the norm back then, would be equivalent to a criminal attorney referring to a cold-blooded murder in court as an act of “sleep facilitation.”
Today, most mainstream financial journalists are a complete disgrace to their profession and this is one of the primary reasons for the lack of understanding, among the masses, of the grave risk of more bank runs in the global financial system that exists today. Journalists are told not to dig for the truth and just report what they are told, and they do so, serving their masters instead of the people. When I was still running my prior services, a handful of people in Venezuela wrote me short emails and thanked me for strongly suggesting that they convert all their Venezuelan bolivars into physical gold as a wealth preservation strategy many years before hyperinflation materialized, and bankers turned most Venezuelan citizens’ bank accounts into dust. In fact, by the time bank runs materialized in Venezuela, the damage to people’s savings accounts had already been done. Yet, not one of the nearly 20,000 people that watched my warnings in the above video, many of whom lived in nations in which bank runs have caused millions to lose nearly all of their savings, has written me a note in response to that video. I’m not revealing this because I desire gratitude from anyone, as I make these videos with no expectations of any gratitude, but simply to warn and educate as many people as possible regarding the grave stresses that currently exist in the global financial system that will eventually wreak havoc on a magnitude far greater than in 2008. I am revealing this because I believe it merely illustrates the level of complacency among the general population in the fact that they view their assets parked within the global banking system as low risk, when in reality, they could very well be at high risk. Despite the near 20,000 people that watched my warnings posted six years ago, probably only a handful of people, or less, actually acted on the information.
The reason I believe that my former clients actually took action when I issued them similar warnings was because, as paying customers, they were more emotionally invested in the guidance I was providing to them, and therefore more willing to act on this guidance as they had paid for it. Furthermore, given that they had actively sought out my opinions, this meant that they had already likely researched many of my other prior predictions online and therefore possess a high level of confidence regarding the guidance I was providing to them. However, of the 20,000 people that watched the warnings I provided on my YouTube channel, since there is no emotional attachment invested in watching a free video, other than the five to ten minutes it takes to watch a video, they are much more likely to dismiss the content and take no action.
I’ve since uploaded that old content on my new maalamalama YouTube channel, and even though the content of that 6-year old video is still as relevant today as it was back then, and in my opinion, given 6-years of additional stresses, even more relevant today, I also must admit that I’m not surprised that barely anyone has watched my re-upload versus the near 20,000 people that watched it during the immediate years following the 2008 global financial crisis, when people’s concerns about the safety of their bank deposits were still very much elevated. The reason I remain unsurprised about how comfortable people are in placing their hard-earned savings at massive risk by keeping them parked inside the global banking system is because, time and time again, I have observed very few people executing any pro-active behavior despite the prominence of dozens of protests that have been occurring consistently around the world for at least the past couple of years. Though I know that many of the protests are framed by mainstream media journalists as protests of “freedom”, the truth of the matter again is often quite different than the rubbish reported by the mainstream media. If you look at the decline in economic conditions in nations in which large, and often violent protests have materialized, there is a direct correlation between the timing of these protests and the economic decline that is happening in these nations.
For example, even though the French Yellow Vests urged their citizens to withdraw all their money from French banks on several occasions at the start of 2019, on more than one occasion, due to the understanding of some of the leaders of that movement of the massive role that bankers have played in giving rise to widespread economic malaise throughout France, given that no bank run every materialized, this means that even the Yellow Vests could not convince even their own participants to act on their strategy for a peaceful protest against the global banking system and to act in their own best interests. Of course, given that bankers in France place very strict limitations on daily ATM and bank cash withdrawals, these severe limitations placed on people’s abilities to freely access their own money played a large role in the failure of such canvassing and urging to trigger a single bank run in France. All bankers in France place a daily ATM withdrawal limit of only €1,000 on their clients’ accounts and a withdrawal limit of just a few thousand euros from a bank counter. Consequently, for a wealthy client to withdraw all their money in cash would require a few years of daily withdrawals at the maximum withdrawal amount allowed. Though I’m sure that some bankers will grant exceptions to their best clients and suspend this daily withdrawal limitation for them, these exceptions are likely not handed out with regularity, as bankers that face global liquidity crises have a goal of limiting their clients’ access to their own cash, so as to not reveal the severity of the banking cash liquidity problem. Furthermore, since the Yellow Vest exhortations to withdraw money from the banks often started after the week ended, at Friday at 7pm, the only way for participants to engage the Yellow Vest bank run was to withdraw from ATMs, and not at bank counters. The Yellow Vest strategy was severely flawed and near doomed from the very start as ATMs notoriously do not carry a lot of cash. It is not rare that I encounter an ATM machine in Asia in which the screen flashes that the ATM is temporarily out of order, meaning that it has run out of cash. If bank ATMs in Asia regularly run out of cash without even a bank run happening, then I imagine any type of withdrawal levels just 2 or 3 standard deviations above normal daily withdrawal levels would probably empty that ATM of its cash, making the Yellow Vest campaign impossible to execute.
In any event, since I predicted many millions more bank clients would be “cyprus’d” since 2013, let’s take a look at just some of the numerous additional events that have happened all over the globe in which bankers have since cyprus’d people. According to Bloomberg, in mid-2019, though this news has been kept hush hush for the most part, Deutsche Bank started to lose about a billion dollars of cash a day from its accounts. Since then, there have been many more runs on banks in many different nations around the world. There are too many to cover, so I will just cover a few. In Ghana, this past August, bank depositors lost and estimated $1.6 billion and counting when it was revealed that bankers had run an investment scam that targeted bank depositors’ savings, triggering bank runs throughout the nation that resulted in the closure of 1 out of every 3 banks in Ghana and an estimated 70,000 Ghana citizens that may have completely lost= the deposits they held in these banks. In 2014, multiple runs on various Chinese banks materialized, including bank runs on Jiangsu Sheyang Rural Commercial Bank and the Rural Commercial Bank of Huanghai. Though Chinese government officials released statements assuring depositors of these two banks in 2014 that their deposits were safe and that rumors of the banks running out of cash were untrue, a journalist for the US magazine Forbes, Gordon G. Chang, later claimed that Chinese officials lied to the public to stem runs on these banks’ cash reserves from accelerating. Therefore, in 2018, when rumors surfaced that bankers of the Bank of Zigong in Sichuan Province in China had fled after stealing 40 billion yuan ($5.78 billion) of depositors’ money, triggering depositors to line up outside these banks to withdraw all their money, when Chinese government officials once again assured depositors that these rumors were untrue and their savings were safe, no one really could vouch for the veracity of these “official” statements, even though they were sufficient to stop the runs on the banks.
Most recently PMC Bank accountants in India had been caught cooking their books and hiding a massive amount of $616M of NPLs (Non-performing loans) that had severely depleted their cash reserves. As a consequence, PMC bankers initially announced on 24 September that they would restrict nearly a million of their customers to a ridiculous daily cash withdrawal limit of just 1,000 rupees (the equivalent of about $14 USD) per day for the next six months. This introduced extreme hardships for anyone of the near million PMC bank depositors that did not possess other items they could liquidate for cash to pay for daily necessities, at least for a couple of days. Luckily, since nearly every Indian saves in physical gold, they can then liquidate some of their gold for living expenses over the next six months as PMC bank has cut off accessibility to nearly a million people to their own money. And this is precisely the reason why I have consistently stated that anyone that understands the risk inherent in the global banking system will save in physical gold. Fortunately, PMC bank announced on 26 September that they increased their daily withdrawal limit to about US$140 a day, and eventually to about $350 per day on 3 October, but this incident should serve as a warning of the clear and imminent danger that bankers can pose to your financial livelihood at any time, as long as you keep the bulk of your savings within the global banking system.
And even though globally there are dozens more examples of such bank scandals, there will be far less than ½ of 1% of people living in developed nations that believe that such scandals could ever impact them and therefore will do nothing in response to reading this article. They will believe this even though the largest banks in their nations needed dozens upon dozens upon dozens of trillions of dollars of free money from Central Bankers in order not to go bankrupt during the 2008 global financial crisis. And though levels of corruption and regulations are more lax in developing nations versus developed nations in the banking and financial industries, this does not mean that the levels of corruption in developed nations are not great enough to cause bank runs in the future. Obviously, bank runs on all the world’s largest banks in developed nations would have occurred in 2008 without the intervention of Central Banks. Furthermore, scandals on par with those in developing nations constantly afflict developed nation’s banks but simply do not receive coverage in the mainstream media. For example, all you need to do is read this Bloomberg article about one of the shadiest banking deals ever that involved Deutsche Bank helping the oldest bank in Italy, Banca Monte dei Paschi di Siena, wipe out a near half a billion dollar loss on their books through a shady accounting trick, to understand that the biggest global banks engage in accounting scandals on par with any bank in India or Ghana that has committed similar acts that led to bank runs in their nations.
Furthermore, you will note that two bankers, one from Deutsche Bank, William Broeksmit, instrumental in making that deal, and David Rossi from Banca Monte dei Paschi di Siena, both committed very suspicious, hard-to-believe “suicides”, shortly after the shady details of this deal were revealed. In the case of Mr. Rossi’s “suicide”, it would be very difficult for any person of logic and reasoning to believe the Banca Monte dei Pachi di Siena’s claim that he committed suicide. CCTV footage captured David Rossi’s plunge, during which he apparently “jumped” to his suicide, that showed him violently thrust out of a window backwards and slamming his head into the asphalt below. Thereafter, two people, still unidentified and never arrested, checked on Rossi and never called for an ambulance despite the fact that he was still alive. Since it is unheard of for anyone that commits suicide to jump off a ledge back first, the CCTV evidence points to a high probability of Rossi’s death being a murder. Furthermore, David Rossi’s wife Antonella stated that her husband’s suicide note suspiciously referenced her by a nickname, Toni, that he had never once called her before, raising her suspicions that the suicide note was forged and not real. In Broeksmit’s suicide, he allegedly hanged himself with a dog leash. Some people have speculated that Broeksmit’s discovery of being hanged with a dog leash was extremely symbolic because it may have been a warning to other bankers to remain an “obedient dog” and not to report on any criminal activity they observe in the course of their jobs, as Broeksmit had. However, since details of Broeksmit’s suicide notes were not released, it is more difficult in Broeksmit’s case to determine if he really committed suicide or was murdered for being a snitch. In any event, bankers at Deutsche Bank have since paid more than $16.3B in fines for criminal misconduct in their subprime mortgage lending unit, violating sanctions against doing business with Libya, Syria, Myanmar and Sudan, rigging the Libor market, and rigging gold and silver prices lower. Consequently, it is self-evident to anyone with an honest, discerning, unbiased eye that no “safe” Western bank is any more honest and ethical, and therefore any less susceptible to a bank run than any large bank in India, China or Ghana.
