Tag: Derivatives

Bail-Ins and Empty Pockets

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Respectfully Submitted by Lawrence E. Rafferty (rafflaw) Weekend Contributor

The Banksters are at it again.  You may recall an article that I wrote in March of 2013 which detailed a plan agreed to by the Bank of England and the FDIC which would allow banks to grab depositors funds in order to avoid a bank failure. The prime example given in that article was a similar plan that was put into action in Cyprus. Similar plans were on the books elsewhere, but the Cyprus grab had actually been activated.

Now it seems that the joint FDIC-Bank of England agreement from December of 2012 was not enough to make the Banksters whole in the event that their derivative gambling went south.  The idea has gone global and it puts all of our deposits, and even our pension investments at risk! Continue reading “Bail-Ins and Empty Pockets”