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On Thursday, social media posts displayed video footage of Bank of America clients anxiously waiting in line at the bank for information about their bank accounts, which had been lowered by substantial quantities of money without any reason.
The film sparked concerns that the United States is about to experience a financial disaster.
One Independent Media outlet stated that Americans must prepare for a ‘bail in’ and provided a laundry list of things Americans must consider as we enter very turbulent times.
“Bail-ins are when they remove a little amount of money from all bank accounts on file because it’s needed for the “greater good,” according to We Love Trump, who reported on the shocking web footage on Thursday and provided context:
According to Investopedia, bail-ins happened ten years ago.
A bail-in is when a bank takes money from its customers to help keep the bank from going bankrupt. This is different from a bail-out, which is when the government gives money to a bank to help it stay open.
In 2013, the country of Cyprus had a big problem. Its banks were in danger of going bankrupt because they had lost a lot of money. The government of Cyprus and the European Union (EU) decided to do a bail-in.
This meant that the customers of the banks in Cyprus had to give up some of their money to help keep the banks open. People who had money in the bank had to give up some of it. This made some people very upset.
The EU and Cyprus government decided that people with less than 100,000 Euros in their bank accounts would not lose any money. But people with more than 100,000 Euros in their bank accounts would lose some of it.
At first, people were told that they would lose 6.75% of the money they had in the bank. But then it was changed to 9.9%. This meant that if someone had 100,000 Euros in the bank, they would lose 9,900 Euros.
This caused a lot of problems for people in Cyprus. Some people were not able to pay their bills because they had lost so much money. Some small businesses were not able to stay open because they did not have enough money.
The EU and Cyprus government said that they did the bail-in to help keep the banks open and to make sure that there would not be a big financial crisis in Cyprus. But some people did not agree with this. They thought that the government should have found a different way to help the banks without taking money from the people.
In conclusion, a bail-in is when a bank takes money from its customers to help keep the bank from going bankrupt. In 2013, the country of Cyprus had to do a bail-in to help its banks stay open. This meant that people with bank accounts in Cyprus had to give up some of their money. It caused some people a lot of problems, but the government and EU said that it was necessary to prevent a financial crisis.
According to social media reports discovered by WLT, we are experiencing a similar situation and are headed for problems, as demonstrated in this horrific video of a man showing a mob of people whose bank accounts have been emptied.
“Today, $1,400 is missing and customer service has hung up on us. This is really insane. A man is overheard claiming, “Bank of America is stealing our money,” as others in line concur and provide their own stories.
Bank of America customers have funds suddenly missing from their accounts?#BankOfAmerica #BOA #MissingMoney pic.twitter.com/N7Mn0iSshK
— DailyNoah.com (@DailyNoahNews) January 19, 2023
“Reports all over the world that Bank of America customers are missing money from their accounts. Pull your money out of banks ASAP. They are all going to go under. Big bank runs incoming,”
Inflation Tracker (@TrackInflation) posted on Twitter on January 18, 2023.
Reports all over the world that Bank of America customers are missing money from their accounts. Pull your money out of banks ASAP. They are all going to go under. Big bank runs incoming.
— Inflation Tracker (@TrackInflation) January 18, 2023
Missing funds at Bank Of America. Customers start to panic. Media BLACKOUT https://t.co/dffhB4YG5S
— Christopher Greene 😎🏝🚀⛵️ (@amtvmedia) January 19, 2023
The BOA’s response is as follows:
A lot of Bank of America customers are livid this morning after waking up to money missing from their accounts. Hear what @BankofAmerica says is causing the nationwide problem. @FOX5Vegas pic.twitter.com/k89nqMYBKL
— Feven Kay (@Feven_Kay) January 18, 2023
ABC13 reported on Bof A’s official reaction, providing additional details.
Some Bank of America customers said money is missing from their accounts, including funds from Zelle deposits and transactions.
Rey Garcia has trusted Bank of America with his money for 20 years.
More on this story via The Republic Brief:
But when he noticed the problem happening to others, he went to check his own account.