Wells Fargo

Timothy J. Sloan is an American banker. He is the chief executive officer of Wells Fargo since October 2016, when he succeeded John Stumpf, having previously been chief operating officer and president.

So if the bank then fails (meaning its shares fall)… so does your deposit.

Let’s say bank fails in the US. Bank is too big for the FDIC to make hold. So…

1)   The FDIC takes over the bank.

2)   The bank’s managers are forced out.

3)   The bank’s debts and liabilities are converted into equity or the bank’s         stock. And yes, your deposits are considered a “liability” for the bank.

4)   Whatever happens to the bank’s stock, affects your wealth. If the bank’s stock   falls at this point because everyone has figured out the bank is in major trouble… your wealth falls too.

This is precisely what has happened in Spain during the 2012 banking crisis over there. Since then it’s also happened in Cyprus, Greece…and it is now perfectly legal in the US courtesy of a clause in the Dodd-Frank bill.

This is just the start of a much larger strategy of declaring War on Cash.  The goal is to stop people from being able to move their money into physical cash and to keep their wealth in the financial system at all costs.

Indeed, we've uncovered a secret document outlining how the Fed plans to incinerate savings to force investors away from cash and into riskier assets.

City National

Russell Goldsmith is an American attorney, businessman and banker. He serves as the Chairman and Chief Executive Officer of the City National Bank.

James Dimon is an American business executive. He is chairman, president and chief executive officer of JPMorgan Chase, largest of the Big Four American banks, and previously served on the Board of Directors of the Federal Reserve Bank of New York.

Chase

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