The following sounds like Twilight Zone, but it will happen if we don't act.
Place: your local bank where you have an account. You've been a loyal customer there for years.
You want to make a withdrawal. You know that the amount you need is there. The transaction is attempted either in person or digitally. The bank says no, the funds are unavailable.
Sidebar: there's only one other reason why this would happen, but that one is far more sinister and larger scale. Stay tuned. Hint: it has to do with the Chinese Credit System.
Why?
Because the Federal Reserve and the Treasury Department, acting through the FDIC, have seized your account, along with all the other patrons of your financial institution. It seems the bank took some bad risks with their portfolios, and has now taken a huge hit. They can't take fiscal responsibility for their actions. They need to recover their losses. That's where your account comes in.
Bank: First Republic, the 14th largest in the country, comes tumbling down, just two months after Silicon Valley Bank did the same thing. At the time of this writing (May 1, 2023), half a dozen conglomerate banks vied for the prize. JP Morgan (Chase) snatched it from the rest.
What are they afraid of?
Another Crash like in 1929, when people rushed to the bank to get their money before the bottom fell out.[1] Now we face the same. We need a way to separate the Feds from our money, but how? Their reach is far, and now they are armed. What legal protection do we have?
Enter Convention of States: Article V, that is. It was tucked into our Constitution for such a time as this. Our Founding Fathers knew that this day would come when the Federal government would be totally out of control. So they came up with a list of guidelines that tells us:
- We The People can call for a Convention of States. Congress isn't the only one who can propose/ pass Bills.
- The Feds can't interfere.
- How the Convention is to be handled so it won't go off track.
There are three things we're aiming for:
- Eliminate government overreach.
- Fiscal responsibility (if you have to follow a budget, our government should too).
- Term limits (some of those congressmen have been in office way too long and have completely lost touch with their constituents).
At the time of this writing, 19 of the needed 34 states have answered that call. Would your state like to be next? Here's how:
[1] See this Wikipedia article to read how the Great Depression in 1929-1930 caused over 600 banks to close and a total of $550 million deposits was lost.
