As Bank Bail-Ins Begin, We Could All Soon Be In For A World Of Hurt Because 'Underneath The Surf
The story from Ellen Brown at Web Of Debt tells us what we'll never hear from the mainstream media, a 'crisis worse than ISIS' awaits Americans in the form of 'bank bail-ins' that could soon wipe out Americans' life savings with a massive derivatives collapse ahead of us. While some might say "money confiscation by the govt or banks could never happen here," all we need to do is look below at all of the laws and infrastructure already in place to do so in America and this stark reminder, bail-ins have already begun in Europe as shared in more detail in the 1st video from X22Report. Back in the end of November we learned that the Federal Reserve was cutting off their lifeline to the 'too big to fail' banks that have been propped up now for many years. Under the new rule, banks that are going bankrupt -- or appear to be going bankrupt -- can no longer receive emergency funds from the Fed under any circumstances. With US banks now holding on to a $247 TRILLION derivatives ticking time bomb, the only thing preventing the 'financial armageddon' warned of in this story from Michael Snyder on the Economic Collapse Blog is time. As Snyder warns us, if the 'too big to fail' banks go under, 'we're all in for a world of hurt'.:
The mainstream media is assuring us that everything is under control, and they are running front page headlines such as this one during the holiday season: “Kylie Jenner shows off her red-hot, new tattoo“.
But underneath the surface, trouble is brewing.
A new financial crisis has already begun, and it is going to intensify as we head into 2016.
And as this new crisis unfolds, one word that you are going to want to listen for is “derivatives”, because they are going to play a major role in the “financial Armageddon” that is rapidly approaching.
Back on January 6th, 2015, John Lawrence at the San Diego Free Press wrote a story called "The Bail-In: How You and Your Money Will Be Parted During The Next Banking Crisis" and in it he let know why the American people are on the hook for bad bets and mistakes made by the big banks. Simply, we 'gave it all away' and didn't even see it coming.:
There will be no more taxpayer bailouts for the Big Wall Street banks. That much has been established by the lobbied to death Dodd-Frank banking reform (yeah, right) bill.
However, instead of taking money from the government (taxpayers), the principal has been established that the next source of money for profligate banks will be your deposit accounts. Yeah, that’s right, the money to stabilize the banking sector during the next crisis will come out of your savings and checking accounts.
To add insult to injury – since the banks pay you zero percent on your savings account in the first place – the banks have the right to confiscate your funds if they crash the economy again as they did in 2008. Remember the Great Recession? It’s coming again to a bank near you.
How can they do this, you ask?
Simple. When you deposit money in a checking or savings account, that money no longer belongs to you. Technically and legally, it becomes the property of the bank, and the bank just issues you what amounts to an IOU. As far as the bank is concerned, it’s an unsecured debt.
The story from Shah Gilani on Money Morning was called "Why I'm Closing My Bank Accounts While I Still Can" and in it we learn of one man's struggle to withdraw his own money from his own bank account. Put through the 3rd degree to withdraw cash, we're given more proof that Americans no longer 'own' our own money as Susan Duclos shared with us back in January of 2015 and another sign that the financial world is getting ready to fall apart. How might bank bail-ins work in America? You will go to bed one night, wake up to find the bank is closed on a "bank holiday", ATM's will not allow you to withdraw cash. An announcement will go out that you, the taxpayer, will have money withdrawn from YOUR account before the banks reopen and what is left is yours... until the next time. From Gilani.:
Not long ago I walked into a local branch of my bank – the 13th largest bank in the United States based on consolidated banking assets, according to the Federal Deposit Insurance Corporation's (FDIC) second-quarter 2015 data.
I wanted to cash a check for a few thousand dollars. It was a business check made out to cash; it was my business account and there was plenty of money in it.
What happened next was, frankly, frightening. And it has profound implications for every American.
That's because it means capital controls, courtesy of the government and the U.S. Federal Reserve, could be right around the corner. They're already in effect in some form.
That means you might not be able to get the money you want out of an ATM. You might not be able to cash a check when you have plenty of money in your account. Or worse… your bank could take your deposited cash and convert it to shares of stock in that bank. In other words, if you think you'll always be able to get your money out of your bank, you're wrong.
You can read Gilani's entire nightmare story about why he's closing down his bank accounts here.:
As the graphics above and below show us, Americans ARE NOT SAFE from having our money stolen from us and they can do it legally as we learned above. As we can see in the graphic below, Canadians and some European banks are in better shape as are Australia, Singapore and Hong Kong. Yet, Americans savings are sitting ducks to the NWO as the Bank of England's Deputy Governor Paul Tucker warned not long ago: "U.S. Authorities Could Do It Today...And I Mean Today". Sadly, we also learn that in Europe, private banks such as co-ops or credit unions are also under attack. With a recent move to rescue a bank in Italy leading to the suicide of an elderly Italian man who was a pensioner and who lost his entire investment we see the very real human cost of failed banks and failed banker decisions. Meanwhile, in Switzerland we learn that a Swiss Army Chief has warned of social unrest and asked that the Swiss arm themselves as a 'explosively hazardous situation' is unfolding there.: Swiss army chief André Blattmann warned that 'the situation is growing increasingly risky' and within his statement we learn that the Swiss have prepared for possible civil unrest long ago.:
"The threat of terror is rising, hybrid wars are being fought around the globe; the economic outlook is gloomy and the resulting migration flows of displaced persons and refugees have assumed unforeseen dimensions."
"Social unrest can not be ruled out", the vocabulary in public discourse will "dangerously aggressive."
"The mixture is increasingly unappetizing" Blattmann sees the basis of Swiss prosperity, "has long been once again called into question."