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Thread: Bail ins coming to a bank near you.

  1. #1

    Bail ins coming to a bank near you.

    See here for starters:
    http://theeconomiccollapseblog.com/archives/tag/bail-in

    And here for how this precrime has been commited against me and you:
    http://larouchepac.com/dodd-frank

    to wit:
    "Hearings continue taking place in the House and Senate to review what exactly was voted into law with the 2010 Wall Street Reform and Consumer Protection Act (the Dodd-Frank Act) even as the rules for implementing the law are still being written. According to LaRouchePAC and EIR sources on Capitol Hill, there is little to no recognition of the key fact of Dodd-Frank. Namely, Title II of the Act to establish an Orderly Liquidation Authority, vests the FDIC with the authority to conduct a European-style bail-in. The preamble to the Dodd-Frank Act claims “to protect the American taxpayer by ending bailouts.” This is done, however, through bail-in, a critical feature of the internationally established regime of what is called cross-border bank resolution.

    Bail-in, in its simplest terms, is the inverse policy of what was done under Franklin D. Roosevelt’s Glass-Steagall Act and the 1933 Banking Act generally. Under bail-in the bank survives, the depositors do not. As is stated in an IMF review of the policy from April 2012, “The statutory bail-in power is intended to achieve a prompt recapitalization and restructuring of the distressed institution.” In the case of resolving a distressed globally active, systemically important, financial institution (GSIFI), bank creditors, specifically those whose assets exceed the FDIC insurance cap, will be subject to expropriation. This is not normal bankruptcy. Accounts and assets are seized and/or converted to stock under the resolution authority. The institution is prevented from failing. Values of securities are not written down through sale on the open market. And this is done to guarantee the continued operation of the financial institution and the “stability” of the financial system. "


    What this all means is the bank can gamble with your money, and when it loses you pay the loss, not the bank.

    I took the liberty of bolding the more pertinent part for you.
    Last edited by 5.56NATO; 08-07-2013 at 10:41 AM.

  2. #2
    Senior Member Helen Keller's Avatar

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  3. #3
    I would be judiciously pulling cash out and buying metal if I had a substantial amount in the bank. Also I have recently been hearing opposing theories as to the future of the stock market lately. One is it's going to tank to less than half of its current value, within a few years time, usualy the end of next year. The other, predicated upon a world war and the production and "economic stability" and absolute economic control via government world war brings, is the stock market will double or more, to 30k or higher. For an example of the total control of economy during wartime, look at the rationing and price controls employed in ww1 and ww2.

    Here's a bit on ww2:
    http://www.u-s-history.com/pages/h1689.html

  4. #4
    Also, if you have paper as in money and stocks/bonds when the shtf, all that paper will be worth whatever similar sheets of paper sell for. Don't buy gold as paper. Metal in hand will be king.

  5. #5
    Meh


    My money goes in the bank and then right out of the bank again, paying bills.

  6. #6
    I'm pretty dang far from having to worry about unprotected funds in my FDIC insured accounts... ...er, I mean "account"...

    ...would love to have that problem though!

  7. #7
    Team GunsNet Silver 12/2011 N/A's Avatar

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    Quote Originally Posted by 5.56NATO View Post
    Also, if you have paper as in money and stocks/bonds when the shtf, all that paper will be worth whatever similar sheets of paper sell for. Don't buy gold as paper. Metal in hand will be king.
    What doesn't hurt gold will make it stronger.
    http://rt.com/op-edge/gold-market-fu...s-economy-172/

    The powerful case for silver
    http://rt.com/op-edge/silver-metals-...nvestment-265/
    No enemy of America would have ever been killed if they didn't show up to be killed. HDR

  8. #8
    Quote Originally Posted by studmuffin View Post
    Meh


    My money goes in the bank and then right out of the bank again, paying bills.
    And that is where the regime wants everyone to be, living from paycheck to paycheck. That way when the crash comes alla re in teh same boat = dependant upon the regime. Or so it hopes. I guess you can look at it this way, if wall street tanks and you didn't have any stock, no lost sleep.

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