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WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay.
In general, unsecured creditors, such as depositors of a bank, will have very little redress to cover their debts if a company is put into liquidation. That is the current state of financial services in the USA.
The money deposited in an account is no longer deemed as belonging to the principal but rather to the bank.
You can change that forever by learning how to do self banking, and achieve increased cash flow and never be an unsecured creditor again!
WHY BANKS PUT MONEY IN LIFE INSURANCE
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
“Banks and other financial services, when it comes to investing their own money—don’t follow conventional wisdom and put their cash into mutual funds, stocks, hedge funds, term life insurance, or risky real estate deals. Instead, they place a large portion of their vital reserves, known as Tier One Capital, into high cash value life insurance or permanent insurance….
“Banks invest billions into high cash value life insurance. Surprisingly, for many banks, life insurance is their largest asset class.
FDIC FAILURE BETWEEN 2008 AND 2013
WHO OWNS THE MONEY IN YOUR BANK ACCOUNT
FDIC FAILURE BETWEEN 2008 AND 2013
The 2008 financial crisis and economic downturn precipitated a banking crisis, causing a sharp increase in the number of failures of FDIC-insured institutions. After several years in which there had been few or no failures, between 2008
“Banks and other financial services, when it comes to investing their own money—don’t follow conventional wisdom and put their cash into mutual funds, stocks, hedge funds, term life insurance, or risky real estate deals. Instead, they place a large portion of their vital reserves, known as Tier One Capital, into high cash value life insurance or permanent insurance….
HOW MUCH COULD YOU BE SAVING
Is owning DEBT profitable? What companies are successful by OWNING debt? Do you own or owe your debt? WHY? Has your financial services consultant discussed this with you, while doing your financial planning?