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Gov'ts Stealing From Bank Accounts - 'Bail-Ins' Taking Depositors' Money Could Be Headed to U.S.

Thursday, September 26, 2013 22:34

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F. Michael Maloof / WND

WASHINGTON – The questionable practice of “bail-ins” begun by Cyprus a year ago to keep banks solvent is beginning to spread to other nations, and holders of large deposits are starting to see their balances plunge literally overnight.

A “bail-in,” as opposed to a bailout that countries especially in Europe have been seeking from the International Monetary Fund and the European Union, is a recognition that such outside monetary injections won’t be forthcoming.

Consequently, banks have been seeking money from another source – their large depositors. The funds are simply taken and applied to a bank’s recapitalization in lieu of government bailouts.

The practice essentially is a transfer from a personal savings account to the bank’s operating account, without the customers’ permission or even any notice.

The example set in Cyprus when the island nation confronted its financial crisis now is spreading to such other countries as Italy, Poland, New Zealand and now Canada.

Get “I Want Your Money” and find out what may be coming to your neighborhood.

Financial experts agree that the practice soon could spread to the United States.

The “bail-in” a year ago in Cyprus developed after the island nation was refused further outside financing from the IMF and the European Central Bank of the EU, of which the Mediterranean island is a member.

Cyprus never was looked upon as a place to spend money. Instead, it was seen more as a place to safely hide large deposits of cash for private individuals and companies not only in Europe and Russia but for major shareholders and top executives from all over the world.

Read more at WND:

http://www.wnd.com/2013/09/governments-coming-to-steal-savings-accounts/

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Comments

Total 5 comments

Gary Anderson

This is actually true. The Cyprus example could happen in the USA. Bailouts put all the burden on the taxpayer, while bailins steal deposits and turn them into bank capital. When you deposit in the bank you are lending to the bank. When you lend to a bank and it fails, they can have access to your money turning it into capital and you may get stock or the bank could fully fail.

Sep 27, 2013, 5:48 am 0 Reply
Deborah Breuner

Sorry you are wrong! This practice of “Bail-ins” by financial institutions is not new! I’ve been writing about this for two years right here on Before It’s News and elsewhere, such as on my own blog; http://deborahbreuner.blogspot.com/ I had 80M$s embezzled out of my TRUST ACCOUNT by a national financial institution and it has never been investigated by the proper authorities and it never will be. This same FEDERAL CRIME occurred to both my great aunt and Mother so it’s been going on in this country in my family alone for over 100 years! Please get your facts straight and if you’re going to write about this write about the facts; this practice isn’t coming to the USA it’s been here for many generations and purposely HIDDEN by the media, including alternative media!

Sep 27, 2013, 7:33 am 0 Reply
Deborah Breuner

And here’s an added comment which I forgot earlier; these financial institutions usually attack those of us whom are heiresses or heirs to wealth, earned by our great grandparents, and haven’t been employed by anyone in years. Many do have their own lucrative businesses, as I did. When the financial institution embezzles all their funds the victim loses everything including their businesses and they can’t get employment; employers don’t hire people who don’t have a recent emploment history; having your own successful business doesn’t count and being older with unlawfully destroyed credit is simply the killer to obtaining employment, while the government sanctions these outrageous federal crimes commmitted by the financial institutions! Whats worse these crimes are creating homeless and penniless Americans while the churches and charities are as corrupt as the financial institutions; they help no one! See, GOD’S ON OUR SIDE SWEETIE! BUT THE DEVIL HAS CONTROL! http://deborahbreuner.blogspot.com/ Here in lies a truth for all Americans!

Sep 27, 2013, 8:57 am 0 Reply
- ElOregonian
  
  Hi Deb, I worked in the San Jose store as a warehouse boy and met and knew your father, Bill. He sure was a good employer and was always nice to me. I worked there for a year and a half while in school before I joined the Army. I am familiar with your plight and I am sorry that your family’s business was stolen from your father’s heirs through government and corporate conspirators.
  
  I truly hope that God’s Blessings will shower upon you and restore what is rightfully yours, along with His peace to fill your spirit.
  
  Sep 27, 2013, 3:37 pm 1 Reply
WCS

I hope these bankers and officials that support this die a slow , un-timely and painful death. These are the same people destroying my country and that are in control of it and most every other nation. Slow, Painful and VERY UN-TIMELY.

Sep 28, 2013, 3:44 am 0 Reply

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