In this video, I talk with author and economic analyst John Sneisen @TheEconomicTruth about the recent bank run being witnessed it Latvia as ABLV (the Baltic state's third largest bank) receives an emergency central bank loan and suspends withdrawals.
This follows on the heels of Latvia's central bank governor Ilmars Rimsevics being investigated for money laundering and bribery which he claims is an attempt by opposition to oust him.
With the vast insolvency of banks worldwide, and despite that, vast dependency, there is a coming calamity at a magnitude the world has never seen before. We are just seeing the beginning of this calamity.
Now ABLV is being accused of money laundering and of course we don't see anything wrong with individuals hiding their hard earned money from government theft, but it's always interesting to see the same people who shame hard working people doing the same thing they shame those people for. It's the usual absurdity that banks and governments are untouchable. It doesn't appear that will hold up much longer.
ABLV is desperately looking for a survival plan, but it doesn't look like they will succeed. The emergency meeting on Monday will decide much of its fate.
Looking at the cash holdings to deposits of the top 4 banks in Latvia, we see 2 have more than ABLV, however, Norwegian owned Norvik Banka holds far less. This also pales in comparison to many Canadian banks. Is it time to be worried yet?
*Norvik Banka 4.73% deposits
*Citadele Banka 24.59%
*Rietumu Banka 28.85%
*ABLV Banka 13.36%
Perhaps it's time to stop trusting banks. If your money's in the bank, it's not yours, it's the bank's. A populace in debt is a populace in servitude. It's time people become self sufficient and financially responsible. Freedom depends on responsibility and independence. It's an individual's responsibility to not be taken advantage of and to understand the world around them. So why do so many depend on banks for their retirement and savings? Would the majority of the public depend on them if they knew what they were doing with "their" money?
It's time to rethink what you thought you knew.
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4.73%!! Wow!! That’s crazy!! People don’t understand that if your money is in a bank, it’s actually the banks money! Thanks for this reminder!! It’s unfortunate that the majority of people are going to be learning this lesson the hard way! There’s almost no cash in the system and liquidity is going to dry up so fast it will make everyone’s head spin! Thanks for the post!!
When I see news like, coupled with @corbettreport latest artical about the Venesualian Petro, I can't help but think that we're getting a warning of things to come. We liberty lovers need to make sure we're spreading this warning along with the TRUE alternitives in liberty. That'll build up our credibility with the sleeping masses & further ruin the M.S.M.s credibility (as if they need any help). So we can weather the storm & help the sleepers once it all comes crashing down build on the soulutions offered in liberty/decentralized as opposed to the oppressive/ centralized "soulutions" that the "governments" of the world have waiting in the wings. The fight of the centuries is on the horizon & humanity must have liberty fighters in their corner steering the future toward freedom.
Seems like the chickens are coming home to roost now. Remember those elderly people who stuffed their cash under the pillow because they didn't trust banks? Turns out they were right.
You working is impressive bro...
Upvote your work
People with power and money seem to think (correction, know) that they are above the law in many cases. It's a sad reality and it angers me simply thinking about it. We the people know we're being robbed blind and most of us act like it's not happening. I hate to say this but I don't think most will wake the F*** up until it's too late.
Most will not, by design or genetics. The nature of the species seems to be mostly comprised of people who wish protection from the herd regardless of the environment. Maybe 1% of us are smart enough to get out of the herd flow & climb up to lookout ahead of the pack to see the cliff coming.
The question is do you spend your time with the herd trying to save everyone from the cliff & risk falling over or do you watch silently from high ground where you can inverse snipe in peace?
After a decade of trying to talk to the ones choosing to be in the herd, I’m spending my current time on high ground.
I can't blame you my friend, no one can.
They probably are pretending to be uneasy until they jump on board. Lol. Joy
wonderful ..video I appreciate your news thanks for sharing this freedoms..Best of luck my dear friends ..resteemit..
Not surprisingly, I haven’t heard a word of this in the mainstream media.
More cracks showing in the EU
Great update, could this be a domino?????
No more sweat & sunburns for you guys! Hahaha must be back in the frozen tundra 😂
It resonates so well with my current situation. Actually it resonates so well with the situation of everyone in my country. We have our money in the banks but we are not able to withdraw it because there is no cash in the bank.
Good post, bro
Very good video. Thanks for sharing
excellent your post..i will done upvote and resteem..