Right Now with Ann Vandersteel: David Morgan warns that BANKS own the money in people’s accounts – Brighteon.TV

Precious metals expert David Morgan has once again warned the public that the banks own the money in people’s bank accounts, not the depositors.

“I’ve warned people for years that [in] the bank account that you have in your local bank or even a major bank like JPMorgan – that money is not your money at all. It’s their money,” he said during the Dec. 11 episode of “Right Now with Ann Vandersteel” on Brighteon.TV.

“You’re an unsecured depositor. If the bank goes down or the bank is closed, you may not get your money back.”

Morgan, a widely recognized analyst in the precious metals industry, mentioned that bail-outs would be a common occurrence in America when it has a banking crisis similar to that of the 1930s. Almost a century later, these bail-outs would happen once more with banks such as Silicon Valley Bank, Silvergate and many others.

The publisher of the Morgan Report also noted that authorities don’t even follow their own rules when they just pick and choose who gets bailed out. Often, members of the billionaire class who are rubbing elbows with Silicon Valley executives get bailed out, but smaller banks don’t. (Related: Small and regional banks are being left to fend for themselves while big banks like Silicon Valley Bank are being bailed out.)

According to Morgan, people who think their assets are safer in the stock or bond markets have to think again. He mentioned that compared to these risky assets, there are viable assets such as farmland, real estate and precious metals. The latter, Morgan continued, are about being safe and possessing something tangible – something that has worked for 5,000 years.

“All I am pointing out is the more complex the system, the more points of failure that exist,” the precious metals analyst explained. “Whereas if you hold gold and silver coins in your hand and you walk to the farmers market, there’s a pretty good chance you’re going to be able to do business.”

Only the “privileged class” has ownership when the whole financial system fails

Morgan also told program host Ann Vandersteel that owning a gold company and a share certificate doesn’t mean someone is already good. He warned that when an all-out financial collapse happens, the “protected class” gets to keep all of the assets. Ultimately, only this privileged class will retain ownership when the financial system undergoes a hard reset.

“The bank puts all the pieces back in the box. You don’t have anything, and they start over,” Morgan said. “That is exactly the analogy for what [will happen].”

Even the so-called billionaire class will be decimated with this reset, as everything they own will go to the “protected class” to restart the system. This reset will be used as an excuse to restart the system the moment it collapses – something World Economic Forum founder Klaus Schwab espoused in his statement: “You’ll own nothing and be happy.” Ultimately, Morgan noted that there won’t be too many billionaires who are going to be happy if they lose their positions in the “big lie” that something can be created from nothing.

Vandersteel mentioned that gold was “stolen” in 1934 when the federal government confiscated the gold owned by Americans, and former President Richard Nixon took the U.S. dollar off completely from the gold standard in 1971. She then asked Morgan if there was a possibility of another gold confiscation happening in America.

In response, Morgan said he doesn’t think Americans have to worry about it at this time since the U.S. dollar is not on an asset-backed system with gold. He pointed out that America is on the assets of securities – the corporations who are in the stock market like the S&P 500.

Follow Collapse.news for more news about the impending collapse of the banking system.

Watch the Dec. 11 episode of “Right Now with Ann Vandersteel” below. “Right Now with Ann Vandersteel” airs weekdays at 8 p.m. on Brighteon.TV.

More related stories:

David Morgan: Many regional banks in the US will COLLAPSE in 2023.

Banks are hiding at least $620 billion in losses, creating a ticking time bomb of financial disaster.

Mass bank branch closures and troubled real estate sector point to impending U.S. financial crisis.

Sources include:

Brighteon.com

TheMorganReport.com