Cyprus

New G20 Rules: Cyprus-style Bail-ins to Hit Depositors AND Pensioners

All this fancy footwork is to prevent a run on the TBTF banks, in order to keep their derivatives casino going with our money. Warren Buffett called derivatives “weapons of financial mass destruction,” and many commentators warn that they are a time bomb waiting to explode. When that happens, our deposits, our pensions, and our public investment funds will all be subject to confiscation in a “bail in.” Perhaps it is time to pull our money out of Wall Street and set up our own banks – banks that will serve the people because they are owned by the people.

Winner Takes All

The Super-priority Status of Derivatives by Ellen Brown Cyprus-style confiscation of depositor funds has been called the “new normal.”  Bail-in policies are appearing in multiple countries directing failing TBTF banks to convert the funds of “unsecured creditors” into capital; and those creditors, it turns out, include ordinary depositors. Even “secured” creditors, including state and local governments, may be at risk.  Derivatives have […]

FDIC & Bank of England

Create Resolution Authority for Unlimited Cyprus-Style “Bail-Ins” for TBTF Banks by SilverDoctors *BREAKING SD ALERT* Editor note: Bringing this massive story back to the top of the news feed for those who missed it over the holiday weekend.  On Wednesday, SD broke the news that Canada had buried a provision for depositor bail-ins for systemically important banks deep inside its […]

Cyprus bailout inside info?

132 companies pull out over $900mn in deposits by Russia Today One hundred and thirty-two companies reportedly had inside knowledge of Cyprus’ impending levy tax as they withdrew deposits worth US$916 million in the run-up to the bailout deal. The companies withdrew their savings in the two week period (between March 1 to March 15) leading up to the rescue […]

The Confiscation of Bank Savings to “Save the Banks”

The Diabolical Bank “Bail-In” Proposal.  Is the Cyprus Bank “Bail-in” a “dress rehearsal” for things to come? Is  a “Savings Heist” in the European Union and North America envisaged which could result in the outright confiscation of bank deposits? by Prof Michel Chossudovsky In Cyprus, the entire payments system has been disrupted leading to the demise of the real economy. […]