The Atlantis Report: "2020 Banking Crisis: 4-19-2020
The Atlantis Report:
2020 Banking Crisis - The Worst Bank Collapse in History
Premiered 34 minutes ago
The Banks are in trouble because people are defaulting on their loans. If people aren’t earning as much money as they were when they were working, especially small businesses, they’re not paying their loans. So, the banks are not getting interest payments. They’re getting defaults.
In fact, there was already trouble in the subprime markets before COVID-19. Both subprime credit card and auto loan defaults were rising. That will only increase with millions of people suddenly unemployed.
The Bankers are staring into an abyss. The Problem is Main Street just doesn't know it is staring into the same abyss.
Even when the economy is " overheating," banks are insolvent by design. The more insolvent they are, the more they fleece the sheep. It is all perfectly legal, of course. Now people are starting to realize that they have been funding compulsive gamblers with unsecured loans at perhaps twenty-five percent interest rate on their bank deposits (unsecured loans).
When you realize that governments have made this all legal and that they have pushed through bail-in legislation to protect the "taxpayer" from bank insolvency, do you trust your government to do anything that is for your benefit?
We are wearing masks, But the banks are robbing us.
The financial sector is the key to the US economy. They shouldn’t be, but they are because we have a bubble economy. We have an economy based on credit, based on debt.
So, not people spending the money they earned, but spending the money they didn’t earn, but they borrowed.”
For the full transcript go to https://financearmageddon.blogspot.com