Ammon Bundy: Bank Bail In!!! **BEWARE** (10/21/24, video 08:57 includes transcript. Post updated 10/24/24)
Ammon Bundy explains why your money in the bank is NOT your money. The rules changed in 2008 (Obama) after the big bank bailouts.
Summary of Video:
In the Bail-In model, money that you deposit in the bank is no longer your money. You are considered an unsecured creditor that loans to the bank.
If the bank ever fails, the bank does not have to pay back the unsecured creditors.
Before 2008, you owned your money. It was your money in a bank account. Now it's their money and you're just an unsecured creditor — so beware.
Bundy advises minimizing the amount of money you store in banks.
Bundy did not specify alternatives other than cash.
Bundy writes: FDIC insures all deposits up to $250,000. However, the FDIC has reported they can cover only up to 2% of the deposits in the USA. This is why your deposits in your accounts are considered credits to the bank. They do not have to issue or cover your deposits if the bank becomes insolvent.
ED NOTE
KEEP CASH ALIVE! Avoid digital payments and QR codes as much as possible. Resist digital IDs. Check the fine print on all your loan documents, bank accounts, etc.
Consider placing your money in a carefully-vetted credit union. Credit unions use a different model than banks, are insured differently, and tend to be community and depositor friendly: 
