The law of the land is also known under many names:
The Dodd-Frank act,
Wall Street Reform and Consumer Protection Act,
Public Law 111-203,
H.R. 4173,
Bank bail-in (Google this phrase: Dodd-Frank Bail-in)
The law states that U.S. banks may take its depositors funds.
That’s your Money!
(i.e. checking, saving, CD’s, IRA, & 401(k) accounts) and use those funds when necessary to keep itself, the bank, afloat.
This means your bank makes bad investments in derivatives, or makes bad loans to sub-prime borrowers, or manages the bank poorly and can’t service it’s debt, or even worse the U.S. economy has another 2008 collapse, instead of that Bank going bankrupt and the banks assets being sold off to be given back to its depositors...
Now the Bank simply keeps your money and guess what?
The bank is no longer bankrupt.
YOUR ACCOUNT IS NOT FDIC INSURED WHEN THE BANK TAKES YOUR MONEY.
NOT ONE SINGLE PENNY.
Signed into law by President Barack Obama back in 2010.
This information was taken from the Territorial Dispatch June 26, 2019 edition bottom of page 9.
https://www.territorialdispatch.biz/past-issues/2019/june-2019
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