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The Forum > General Discussion > Are you going to be a Rudd 'bail in' sucker

Are you going to be a Rudd 'bail in' sucker

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"Bail In" is the new term being used to keep " financial stability " according the G 20 Financial Stability Board. Kevin Rudd was PM when we joined the G 20 a few yrs ago and will go to the next meeting on 21/8/13.

http://barnabyisright.com/2013/07/14/timeline-for-bail-in-of-g20-banking-system/

http://barnabyisright.com/2013/07/15/moodys-warns-of-australian-banking-collapse/ G 20 Financial Stability Board "....a menu of viable alternatives and could be achieved by a combination of capital charges ( ie interest rate rises) and contingent capital and BAIL IN DEBT."

"Bail in" is what happened in Cyprus;ie depositors money was confiscated but they a have a sneekier plan at the ready for us. If our banks get into trouble,they will get the power to convert your deposits into shares and thus you lose your savings on a falling share market.

What is the logic behind this? The Central banks can't continue with "quantitive easing" ( money printing ) for ever,since they eventually depreciate their own assets. If we bail out our banks by borrowing from OS Central banks, this just causes more inflation. "Bail in" in the new euphanism like "quantitative" easing that will be used to fleece depositors thus save " the too big to fail bankers".

For more info in "bail in" see http://www.cecaust.com.au/
Posted by Arjay, Sunday, 28 July 2013 8:32:36 AM
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Now like me you probably take most of the conspirosy theories from ARJAY with a grain of salt.
However in this case he is spot on.
Wayne Swan signed the G20 resolution to seize depositors funds to enable the banks to
honor bond holders maturing bonds.
They did this following the success of this action in Cyprus.

It looks like legislation is currently being pre'pared.
Posted by Bazz, Monday, 29 July 2013 9:32:38 AM
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Definitely time to buy a bit more of the bright heavy shiny stuff, & put it back underground where it is safe, & available if needed.

Probably should have a bit of the folding stuff there with it. Not too much perhaps, they could easily dishonor that any time they liked.

And we're supposed to trust these bastards!
Posted by Hasbeen, Monday, 29 July 2013 12:13:35 PM
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Bazz and Hasbeen,spread the word. If this gets passed,we will end up like Greece and Cyprus. We cannot trust any side of politics. Get your money out of banks the instant mortgage defaults begin to happen.
Posted by Arjay, Monday, 29 July 2013 5:16:08 PM
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Yes spread the word!
The sky is falling.
We are going broke.
Gee I enjoy the fear and loathing.
Posted by Belly, Monday, 29 July 2013 5:38:01 PM
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Belly, If all else fails, try to at least sound intelligent.
Posted by Arjay, Monday, 29 July 2013 5:45:12 PM
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