Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Look up...Wake up
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Swiss Gov't Betrays it's Citizens ... Secretly Adopts Bail-in Laws!

% of readers think this story is Fact. Add your two cents.


 

 

 

 

 

 

 

 

 

 

 

 

 

 

BAIL-IN = CONFISCATION

 

 

 

On April 20 2011, the Swiss Government, SECRETLY and WITHOUT VOTATION BY THE PEOPLE (or even public discussion), modified the existing Banking Laws to include BAIL-INs for their pals, the “Too Big to Fail” banks, in case of failiure.

In other words people of Switzerland, your elected officials voted to save their pals, the Central Bankers, with YOUR MONEY, the money of the depositors…

i.e: CONFISCATION!

 

 


 

Bail-in definition:

 

1.  What Is A Bail-In? Definition 1 – A bail-in is when regulators or governments have statutory powers to restructure the liabilities of a distressed financial institution and impose losses on both bondholders and depositors.

2. What Is A Bail-In? Definition 2 – A bank bail-in is an attempt to resolve and restructure a bank as a going concern, by creating additional bank capital (recapitalisation) via forced conversion of the bank’s creditors’ claims (potentially bonds and deposits) into newly created share capital (common shares of the bank).

3. What Is A Bail-In? Definition 3 – In Plain English, If your bank goes bust then your deposits/savings will be taken from you and turned into shares of the bank. You have no say in the matter because in legal terms, as a bank depositor, you are just an unsecured creditor of the bank.

 

 


 

The EVIDENCE:

signed by Micheline Calmy-Rey and Corina Casanova

 

 

French version (PDF):

 

 

German version (PDF):

 

 

 

 

 

No Bank Deposits Will Be Spared from Confiscation

 

Did you know that as soon as you deposit your money in the bank, it becomes the property of the bank to do with as they please?

Money when paid into a bank, ceases altogether to be the money of the principal… it is then the money of the banker, who is bound to return an equivalent by paying a similar sum to that deposited with him when he is asked for it.

The money paid into the banker’s, is money known by the principal to be placed there for the purpose of being under the control of the banker; it is then the banker’s money; he is known to deal with it as his own; he makes what profit of it he can, which profit he retains himself…

The money placed in the custody of the banker is, to all intent and purposes, the money of the banker, to do with it as he pleases; he is guilty of no breach of trust in employing it; he is not answerable TO THE PRINCIPAL IF HE PUTS IT INTO JEOPARDY, IF HE ENGAGES IN A HAZARDOUS SPECULATION; he is not bound to keep it or deal with it as the property of the principal, but he is of course answerable for the amount, because he has contracted, having received that money, to repay to the principal, when demanded, a sum equivalent to that paid into his hands.”

So, when the Bank of England, the FED and the BIS issued the guidelines which became the template for the Cyprus “bail-in” (which was endorsed by the G-20 Cannes Summit in 2011), it was merely a circuitous way of stating the legal position without arousing the wrath of the people, as they well knew that if the truth was out, there would be a revolution and blood on the streets. It is therefore not surprising that the global central bankers came out with this nonsensical advisory:

“The objective of an effective resolution regime is to make feasible the resolution of financial institutions without severe systemic disruption and without exposing taxpayers to losses, while protecting vital economic functions through mechanisms which make it possible for shareholders and unsecured and uninsured creditors to absorb losses (BAIL-IN!) in a manner that respects the hierarchy of claims in liquidation.”

 


 

How to Protect Public Revenues

from the Next Meltdown

 

 

“Concerns are growing that we are heading for another banking crisis, one that could be far worse than in 2008. But this time, there will be no government bailouts. Instead, per the Dodd-Frank Act, bankrupt banks will be confiscating (or “bailing in”) their customers’ deposits.

That includes local government deposits. The fact that public funds are secured with collateral may not protect them, as explained earlier here. Derivative claims now get paid first in a bank bankruptcy; and derivative losses could be huge, wiping out the collateral for other claims.

 

Trading in derivatives is basically just a form of legalized gambling, and the “too big to fail” banks have transformed Wall Street into the largest casino in the history of the planet. When this derivatives bubble bursts (and as surely as I am writing this it will), the pain that it will cause the global economy will be greater than words can describe.

 

Besides their reckless derivatives gambling, these monster-sized banks have earned our distrust by being caught in a litany of frauds. In an article in Forbes titled “Big Banks and Derivatives: Why Another Financial Crisis Is Inevitable,” Steve Denning lists rigging municipal bond interest rates, LIBOR price-fixing, foreclosure abuses, money laundering, tax evasion, and misleading clients with worthless securities.

 


 

Also read:

 

To The Good People of Switzerland…Your Gold is All Gone!

 

 

“To the good people of Switzerland:

 

 

“You have been scammed and sold down the river. Your politicians and bankers, in a pathetic attempt to consolidate power and curry favor with the EU, have given away your independence and your historic sovereignty. You should be angry.

The initiative you have taken and the referendum you have planned are all well and good. I applaud you for taking these steps within the context of Swiss law and tradition. However, you must understand what is truly at stake and if you don’t take more powerful and forceful acts soon, the likelihood of you ever regaining your birthright as an independent, sovereign nation is slim.

 

The next steps you undertake must include these:

- Demand an immediate and full, independent audit of the SNB gold reserves. This is your gold, not the SNB’s, and you should be allowed a full accounting.

- All Swiss gold that is held domestically must be held in Swiss-owned bank vaultsnot at the BIS.

- Demand an immediate repatriation of all foreign-held gold. Do not accept excuses regarding “logistics”. Give the BoE and the BoC no more than 90 days to return your gold.

- Immediately de-peg the Franc from the Euro and divest yourself of all accumulated Euro holdings. Ignore the Keynesian shills who would have you believe that a strong currency is bad for economic growth. 

- Use the process of divesting yourself of the Euro to accumulate and rebuild your gold reserves. Then, use these reserves to once again partially back your currency.

 

The world is rapidly changing and tomorrow will not be like yesterday. The current global financial system, based upon promises, debt and unlimited fiat currency will one day soon by replaced by a system that returns the world to a sound money platform. The monetary powers of the 21st Century will come to the forefront by virtue of their accumulated reserves of soundmoney, not by their addiction to easy money. 

You, Switzerland, still have time to act and prepare but you must move quickly. The possibility exists for you to reverse course and demand change but time is short. The end of the great Keynesian experiment is upon us.

Reclaim your gold and your sovereignty now or be forever consigned to the trash heap of fiat currency history.

Faithfully submitted with all sincerity,

 

Turd Ferguson

Precious Metals Expert

 

 


 

 

 



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.