Q: Is your money safe with your bank?
A: No, your bank is safe with your money.
“Banks may take your money to cope with crisis” (The Cyprus Model is adapted globally)
Below is the translation
The question is not if, but when the banking crisis occurs. And then the major banks have the right to take your life savings in order to save themselves and the financial system. The decision was clubbed through recently on the G20 and because of Sweden’s EU membership, Sweden must follow the directives.
The Swedish model had been clear.:When the Swedish banks have financial problems, the banks borrow Swedish state money. The system is called “bail out”. But this changed at the G20 summit in November last year. There was resolved on a new international standard for the world’s major banks. During a crisis, the bank is allowed to take their clients ‘capital, ie individuals’ savings accounts and pension funds, in order to save themselves — so-called “bail-in”.
The risk for savers is obvious, as you can read in the analysis alongside. The new system applies primarily to large banks with implications for the global economy, the so-called Global Systemi- Important Bank…………
And from Huff & Puff:
http://www.huffingtonpost.com/ellen-brown/new-g20-bailin-rules-now-_b_6244394.html
and “Timeline For “Bail-In” Of G20 Banking System”
This implies that the Dodd Frank and its revisions likely are the implementors.
(In order to implement evil–hide it in the boring.
“How did it happen?
How did we come to a place where an unknown, unelected body of bankers and bureaucrats — chaired since its inception by former Goldman Sachs men — has duped the G20 heads of government into endorsing a scheme to “bail-in” the insolvent private sector banking system by stealing the savings of taxpayers?”………..
http://barnabyisright.com/2013/07/14/timeline-for-bail-in-of-g20-banking-system/
If you want to keep your money safe: bank with us, at
Banc de l’asteroide B612
ALL RESPECT DESERVED
They aren’t called “banksters” for nothing.
Central Banking has always been a form of theft. It is just that they are getting more brazen about it.
Central Banking is the single most successful fraud ever pulled off in the history of mankind.
Canada’s bail in provisions were hidden in the 2013 budget well ahead of the G20 declarations. And the IMF et al.
Word on the street is that Bank of Canada is in as much trouble as the big ones stateside.
IF this is any indication the governments of the G20 nations were well prepared for the declaration and most of the people worldwide know nothing of their plans if their own governments have their way..
Reminds me of that very funny movie Meatballs with Bill Murray years ago where Bill Murray says “Even IF God came down and played on our side IT JUST WOULDN’T MATTER,( and the camp crew chants:
‘it just wouldn’t matter, it just wouldn’t matter) because , says Bill, the other camp “would still win and get all the girls because THEY HAVE ALL THE MONEY!!!” ( and the camp chants: ‘it just wouldn’t matter, it just wouldn’t matter)
Very funny movie. Loved it. Our whole family has quoted and chanted lines from Meatballs (the first one) for years and years. I can’t help but think of that scene as it is SO appropriate to this madness.
Funny, sure. Tragic and Criminal . ABSOLUTELY!
But, hey, if we don’t laugh sometimes at the absurdity of the scheming and evil how can we continue to have the strength to fight.
Frankly, I think God IS on our side and that bolsters me too!!
Funny….I used to think the term “Bank Robber” referred to the guys who stole from the bank! Another good reason, other than FATCA, to switch to credit unions. I hope the big banks all crash and burn (after everyone pulls their deposits out!).
I am going to take are somewhat contrary position. At the end of day any money you put in the bank above the $100,000 deposit insurance cap is at “risk.” Yes it is true in the past that in some circumstances governments have been generous and provided deposit insurance for amounts above $100,000(especially in Europe but also in the US in some circumstances). However, the problem is most governments are now too broke to provide deposit insurance for amounts above 100,000 now.
*In Europe until quite recently it was almost unheard of for governments to “not” guarantee deposits over 50,000EUR even though statute law gives them no obligation to do so.
Regarding banksters and their allies (and I’m thinking also about the CBA, the IIAC and their Harper government best friends and the FATCA IGA):
……….
“Yes, as through this world I’ve wandered
I’ve seen lots of funny men;
Some will rob you with a six-gun,
And some with a fountain pen. ”
…..
from
Pretty Boy Floyd
Words and Music by Woody Guthrie
http://woodyguthrie.org/Lyrics/Pretty_Boy_Floyd.htm
Perhaps “robber bank” is the most apt term now, GwEvil.
Yes, another good reason to switch to the credit unions, just be careful to check their FATCA reporting status first. I think eventually the big banks will crash and burn. There is no reason to go down with them.
And this from Peter Schiff:
http://www.allnewspipeline.com/Peter_Schiff_Get_Your_House_In_Order.php
Thanks, badger. History repeats itself and we (used to) have those that weren’t silenced when telling about it in song:
Sacred Economics
I am a bit confused. If one puts their money in a bank that is not fully insured/not insured and the bank fails then one loses their money (all or part). How is this different?
@calgary, thanks for the link to the song. The line about being robbed by those wielding pens instead of guns has resonated with me in the past, and is very apt for FATCA and US extraterritorial CBT and FBAR.
@bubblebustin, “robber banks” is very clever. I liked “banksters”, but your inversion is very apt too.
Central banks in all G20 countries know they are insolvent as a result of running a massive ponzi scheme for decades now. The heavyweight champion of the world, however, is the Federal Reserve.
This bail-in solution is just another nasty tool in the long list of immoral solutions to unethical banking pratices based in fiat money. However, no bank can pull this off without goverment approbation. Banks are corrupt and abusive because western governments give them the green light to carry on with it. The sad thing is that the two entities now feed off each other.
What has the government allowed over the years? What has the government looked at over the years with lust in its’ beady little eyes?
1. Well they started 100 plus years ago by handing the whole national currency sytem to the Fed lock, stock & barrel.
2. Then they passed the 16th Amendment.
3. Then they created an armed tax collection agency to make sure the Fed stayed well fed.
4. Then they created the FDIC to fool the people into believing that no matter what idiotic mischief their banks gets up to, their savings are safe.
5. Then they allowed the FED to completely divorce the dollar from gold and silver for the so-called good of the currency and the economy.
6. Then they created Fanny & Freddy with turned into sub-primes which turned into toxic derivitives.
7. Then they passed Dodd-Frank.
8. Then they passed FATCA
9. Now they are throwing out the idea of raiding 401K’s to see if it will stick to the wall.
10. And now, bless their little hearts, they want your money just in case they get into trouble.
Golly, I must have left out a thousand other “things” that that butt ugly tag team of goverment & central bank have done to wrestle every single hard-earned penny out of the hands of honest men over the years.
All I know is that America (the country I love but who’s government I hate) has grown so powerful and arrogant that no country has the balls to “just say no”. Why, here in little tiny Switzerland the banks are so intimidated that they go above the IRS call of duty and block the accounts of “US persons” until proof of compliance is provided. The only thing wrong with that is that it is completely illegal under Swiss law, which requires no less than a court order under normal circumstances. So, Swiss banks are the new IRS sheriff in town and the Swiss judiciary branch of the government just looks away and whistles into the air, seemingly delighted that the banks are saving them the trouble of blocking individual accounts on a case by case basis.
I marvel at the diabolical efficiency of FATCA, and at long last I know what it is to be an egg that famous omelet tyrants have been cooking for decades.
@ExpatEric, you forgot
11. Artificially lowered interest rates to zero or negative in order to plunder the savings of savers for getting on to seven years now!!
continued
I know many retirees who are now broke because of zero percent interest rates who have spent their savings to survive.
@George – and by spending / consuming their Savings Capital they have artificially propped up the GDP figures. Go figure what happens when the Savings / Capital are exhausted.
BTW – I tried to post (in response to an article in the Sunday Gleaner with objectionable comments from the new US Ambassador) to the Jamaica Gleaner yesterday some commentary that has (as typical) been refused:
__________________________________________________
Who do the folks at the US Embassy consider “minorities” in Jamaica such as those they have been trained to deal with ? Arrogant.
The very statement is racist ab initio and exposes an inherently racist mindset. Unacceptable. Moreno should be declared personna non grata. Facety cyan done. Rude. The man needs to make an abject apology to the Jamaican People.
___________________________________________________________________
Removed
and also this one:
___________________________________________________________________
If you are not yet scared … then try this one on for size:
Q: Is your money safe with your bank?
A: No, your bank is safe with your money.
“Banks may take your money to cope with crisis” (The Cyprus Model is adapted globally)
Read all about it at:
http://isaacbrocksociety.ca/20…
with references from:
http://www.huffingtonpost.com/…
https://bancdelasteroideb612.w…
http://barnabyisright.com/2013…
______________________________________________________________________
Removed as well.
Be aware that the next major financial collapse will be MUCH worse than last time because of the bail-ins AND because a LOT more money is at stake.
“. . . we all know all western world countries have adopted bail-in legislation in their most recent budgets. The financial elites are engineering the excuse for their next round of money printing . . . and they will be confiscating money out of savings accounts and pension accounts. That’s what I think is coming in the very near future.” http://usawatchdog.com/oil-derivatives-explode-in-early-2015-rob-kirby/
So back to the Q & A from nervous investor:
Q: Is your money safe with your bank?
A: No, your bank is safe with your money.
There’s a lot of truth in that even though, actually, most banks are on the hook for derivatives so they will NOT be safe at all! They’ll be broke when the derivatives mechanism implodes. Why? The amount involved is mind-boggling–it completely dwarfs the U.S. debt which at last count was a mere $18 trillion. One tally I’ve see is this: “Globally there are over $555 TRILLION in derivatives trades based on interest rates.”
According to the following expert, oil prices can start the trigger: http://usawatchdog.com/oil-derivatives-explosion-double-2008-sub-prime-crisis-david-morgan/
Precious metals expert David Morgan says the plunge in oil prices is not good news for big Wall Street banks. Morgan explains, “The amount of debt that is carried by the fracking industry at large is about double what the sub-prime was in the real estate fiasco in 2008. In summary, we’re looking at an explosion in potential that is greater than the sub-prime market of 2008 because, number one, oil and energy are the most important sectors out there. Number two, the derivative exposure is at least double what it was in 2008. Number three, the banking sector is really more fragile . . . and we have less ability to weather the storm.”
Morgan, who is also “a big-picture macroeconomist,” says oil derivatives could take down the system just like mortgage-backed securities back in the last financial meltdown. The Fed said the sub-prime crisis would be “contained.” It was not. So, could oil derivatives take down other derivatives in a daisy chain type of collapse? Morgan says, “Absolutely, there is no question about it. The main problem is the overleverage of the system as a whole. Warren Buffett calls derivatives weapons of financial mass destruction, which is a true statement. Secondly, look at how derivatives are interconnected. Derivatives can tie a financial instrument to another financial instrument or a financial derivative can be tied to an oil derivative. This is just a flavor of how complicated these mathematical equations really are, and no one really knows the risk in them.” So, underwater oil derivatives in one bank could bring down the financial system? Morgan says, “Absolutely, because it is all tied together, all the banks are interconnected.”
From a Brocker in Israel today who says,
Israeli Times, January 5, 2015, Message to Israelis: Your CASH is no good here.
@Steve
“If one puts their money in a bank that is not fully insured/not insured and the bank fails then one loses their money (all or part).”
I think what is being claimed here is that now, if a bank goes down, their obligations to other banks and other large financial institutions via derivatives come first in line, and ordinary depositors will be paid only after the derivative obligations have been paid. In the past it may have been different in that depositors would have been the first priority to be paid. I have not done any independent research and therefore do not know whether either claim is true (either as to how it will now work or did work in the past) but I believe that is what is being claimed.
@Jan
“This is just a flavor of how complicated these mathematical equations really are, and no one really knows the risk in them.”
Having worked as a quant for one of these financial institutions in the past (not any more), I would partially disagree with this statement. These institutions, IMHO, DO understand the risks. However they also cannot, IMO, be trusted to make responsible decisions based on that accurate assessment of the risks. In most cases they are focused solely on manipulating things to maximize their annual bonus, not on doing what is right to manage the risks for their institution–let alone the economy as a whole.
The FDIC and The CDIC are broke. Period. The derivatives are so huge, in the hundreds of trillions of dollars, there is NO reconciling by any bank on earth. The bail ins were written in for a reason and so was the law that once you deposit in a bank your money then becomes theirs. You are then a creditor last in a long line of creditors they never intend to pay because they cannot and will not pay. They intend , and even say they intend, to take the money. They do not say steal but that is what it is and it is what they intend to do. The damage world wide is so huge once the dominoes begin falling it will cascade around the globe and no bank will be unscathed. Many are saying what the Swiss just did is the beginning of the domino fall. The drop in the oil price is designed and will take down the US economy and Canada along with it. Only a matter of time.
This is a perfect storm of theft. If FATCA doesn’t get us the banksters will. Time to put a stop to these criminals thugs and thieves.
Just think of it: Today it is reported that very few own the majority of all wealth on earth. Not satisfied with 99% they are after the rest.
I believe God’s will resides with our lawsuit and our effort to wrest ourselves from the grasp of the evil and greedy. Many around the world are with us, silent and otherwise. It is also important to note that many freedom loving people in the US are also under serious assault. Our lawsuit also gives them hope.
Just think of it: There are three reasons we are Canada today. The first reason is Isaac Brock. The second reason is Laura Secord. The third reason is an American Colonel who was a coward. All combined to ensure an almost impossible outcome: Canada did NOT get swallowed up by the US. We are here. We are Canadian and we will fight. Our own government and anybody else who intend to trample us under their jackboots!
All this makes me bitter and scared for my future… if I can’t even feel safe keeping cash in the bank, etc….makes me seriously consider buying some gold and silver as a hedge. I have an account in a huge building society in the UK but as it’s so large, am not even really sure that it’s not in reality a de facto bank. Of course money’s not everything, thank God!
@MonaLisa, find a small building society, look at its financials, and head that direction. Multiple accounts too!!!!
Gold sovereigns are good in a firesafe.