Some time ago I drew your attention to the Bail in provisions of the
IMF & the G20 governments to which Australia is a signatory.
The link below is about a man in Italy who suicided after his $100,000
of savings were taken to save the bank.
There is also a link to a BBC article on the same matter.

Isn't it remarkable that none of the financial reporting in this country
has not breathed a word about what is happening in Europe.

http://tinyurl.com/h92gshc

Interestingly it remarks that Credit Unions are not available to
Bail Ins, but that is being considered in Europe.
When I asked a Credit Union here about Bail Ins I could not get an answer.

When I have mentioned this matter to others, the usual reaction was
one of disbelief. When challenged my MHR waffled on about legislation.
However International treaties do not need ratification legislation.
Frankly I do not trust the banks or politicians.

I've been reading about this for some time, but then I get all of my financial news on-line as the main-stream media don't want to publish a lot of stuff particularly the manipulation of precious metal prices through the use of derivatives and high frequency trading. I just wonder how many people realise that many of the commercial banks have been fined billions of dollars for illegal activities in the last couple of years over things like foreign exchange dealings and LIBOR I think that most of the population are totally ignorant about what goes on in international finance. Perhaps ignorance is bliss.

Bazz,

"Some time ago I drew your attention to the Bail in provisions of the
IMF & the G20 governments to which Australia is a signatory."
Yes you did. And I drew your attention to the fact that the claims were incorrect. How secure savings are is a matter for national governments, and was not affected by the G20's bailin agreement.

The man who suicided in Italy was a bondholder not a depositor.

I'm not sure what the current situation is in Europe, as there are conflicting reports.
But in Australia your money is safe, though banks here are unlikely to fail anyway.

According to the Citizens Electoral council web site

http://cecaust.com.au/releases/2014_06_11_Bail_In_G20.html

The bail-in legislation was a fait accompli. As a member of the G20 we were a signatory to the passing of the law. This may be wrong information, but I do wonder if there was a large enough crash with a number of banks involved whether there would be sufficient funds available from the deposit insurance fund to cover all the losses, and that's where the bail-in might become essential if a bank were to be saved. I understand also that the USA, the UK and even New Zealand have this law passed. Further research may be necessary where Oz is concerned.

The credit union one is interesting because most if not all credit unions keep the money in a bank.

So are they an unsecured creditor on the books of that bank that would possible be the question to ask.

If they are do they have an exemption to the money being seized?

snake, the CEC are a group of conspiracy nutters who think Obama works for MI6.
Claims they make should not be regarded as evidence that something's true.