Bail-Ins & Bank Runs start in India

Hundreds of thousands of depositors have been left in the lurch by the scam that surfaced at the Punjab & Maharashtra Co-operative Bank . The bank had violated Reserve Bank of India (RBI) norms to lend heavily to one client-real-estate firm Housing Development and Infrastructure Limited , which itself is facing bankruptcy proceedings. The RBI has imposed lending restrictions on PMC, depositors are feeling "anger and pain" as they learn capital controls have limited them to only withdrawing $100. With a financial crisis developing, the Reserve Bank of India is scrambling to reassure the public that the banking sector isn't imploding. Coming to a bank near you soon. Welcome to The Atlantis Report . The Punjab Maharashtra Co-operative Bank , PMC , in India, has been caught cooking the books and misreporting non-preforming loans of Mumbai-based real estate developer Housing Development and Infrastructure Ltd . As Reuters reports, PMC hid the bad loans with 21,000 fictitious accounts, which has spooked depositors, investors and government officials . Serves 'em right for trusting banks. Instead of sticking to the tried and true traditional precious metals.Should have kept all your Rupees in silver and gold. NEVER TRUST A BANK OR YOUR GOVERNMENT! The crisis unfolding at PMC Bank is but the tip of the iceberg of larger, unresolved problems in India’s banking sector. The roots of the crisis in the banking sector, writ large, go back to the unresolved problem of non-performing assets (NPAs), which were magnified in the case of cooperative banks due to lax governance and a dicey business model. Unfortunately, the Reserve Bank of India’s approach seems to be to bolt the barn door after the horse has escaped. And, by imposing severe withdrawal restrictions on depositors (recently relaxed)—inevitable when problems have been allowed to fester—those who suffer are largely the poor folk enticed by the higher deposit rates that cooperative banks offer. RBI would like to assure the general public that Indian banking system is safe and stable and there is no need to panic on the basis of such rumors.Yeah right , as the RBI employees panic and withdraw all their cash -- getting while the getting is good. Coming to the United States at some point. The FED and every other economic entity is committing fraud on such a massive level, it's unimaginable. The chain saw juggling act is about to come to an end. 401K's and IRA's will be the first to totally disappear. There will be a bail in. Anyone with under $100K will lose 40% of their assets. Anyone with over $100K will lose 60%. FDIC will be suspended nationwide most likely by a secret act of Congress If only Americans could understand the importance of consolidating all finance business into an oligopoly of To Big To Fail institutions tightly regulated by their own former employees, all in a government sponsored cartel, the lot of it subject to political influence. This is a lesson for people everywhere. your money in some bank is not really your money. it belongs to the bank and ultimately the state. Capital controls.... Bail-in's.... 'And it's gone' . This can't happen if you take ownership of either Gold or silver or even bitcoin . This is the lesson to be learnt here. Also history shows us that India is the test bed for anything nasty The Power That Be have planned for us 99% It happens first in India, lessons are learned, the people studied. Then it is rolled out in the west. The DEPRESSION IS COMING SOON TO A CITY NEAR YOU. Here it comes. It is hitting already in Communist China now India, and you are getting a taste in the US as the Repo rates are going crazy. Safe places are your mattress. This is just a sneak preview of what is coming to the entire world. I am not joking when I say to stock up on 50 lb bags of rice NOW!

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