Now New Zealand is planning a Cyprus style bank deposit confiscation!

Cash Confiscation Begins Now!

National planning Cyprus-style solution for New Zealand
Tuesday, 19 March 2013, 11:32 am
Press Release: Green Party


19 March 2013

National planning Cyprus-style solution for New Zealand


The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts, the Green Party said today.

Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out.

“Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand – a solution that will see small depositors lose some of their savings to fund big bank bailouts,” said Green Party Co-leader Dr Russel Norman.

“The Reserve Bank is in the final stages of implementing a system of managing bank failure called Open Bank Resolution. The scheme will put all bank depositors on the hook for bailing out their bank

“Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.

“While the details are still to be finalised, nearly all depositors will see their savings reduced by the same proportions.

“Bill English is wrong to assume everyday people are able to judge the soundness of their bank. Not even sophisticated investors like Merrill Lynch saw the global financial crisis coming.

“If he insists on pushing through this unfair scheme, small depositors can be protected ahead of time with a notified savings threshold below which their savings will be safe from any interference.”

Dr Norman questioned the Government’s insistence on pursuing Open Bank Resolution when virtually no other OECD country uses it.

“Open Bank Resolution is unprecedented in the world. Most OECD countries run deposit insurance schemes which protect people’s deposits up to a maximum ranging from $100,000 – $250,000,” Dr Norman said.

“OBR is not in line with Australia, which protects bank deposits up to $250,000.

“A deposit insurance scheme is a much simpler, well-tested alternative to Open Bank Resolution. It rewards safe banks with lower premiums and limits the cost to taxpayers of a bank failure.

Bankers are wankers.

they are digging their own grave.. If this spread be prepared to see bank runs in the Whole West

doesn't this mean bank runs are certain now? New Zealand foes not hold Russian Mob money, so there goes that theory. It shows they intend to do it everywhere like the NY stock analyst in that embedded video above pints out. He also points out that Americans are the most brainwashed people on the planet.

Thanks for the fast 5 stars!

Incredibly important info though. This is what I hv been watching for. Thursday will be a crazy day IMO. I think this is what will bring on the doom everyone here always talks about, not some comet or chemtrail collaboration, but simple unfettered fiscal insolvency. This is also the shortest way to open rebellion and swift installment of martial law. Dissidents will be thrown under the jail for wanting nothing more than their piece of the pie back.

Banksters gonna bankster.

I'm not sure I get this?

Our banks are very sound unlike overseas. There is no question of them failing, they're making a fortune!
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My first pin! Cool. Thanks.

the russian theory is a smokescreen.
the bank drama is distracting from the fact that UN is paasing final gun confiscation laws this week

Maybe they want to make more of a fortune, maybe they want it all?



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your MSM is reporting they're getting ready to STEAL your money too! get it yet? Stop acting like a zombie American.

On a more serious side, do you know what "assets" they are holding on their balance sheets? If they are holding a lot of opaque derivatives, maybe interest rate derivatives and interest rates are somehow going to go higher, maybe much higher than they foresee serious problems ahead?



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Why Thursday?

HOW are you going to have a 'Bank Run' when THEY control the computers ?

The moment starts, OR before a bank run, they will have 'computer glitches', loss of power, "Sorry, can't access your account now" ( or until they decide ).

They have ALL the controls, the parasitic politicians in their pocket, AND, YOUR MONEY.

Should have bought gold/silver 10 YEARS ago, grasshoppers !

However, you CAN keep chirping, till you starve to death ! NO ONE CARES !

Eagle

Not when they are connected to the world bank.

It is like making the atom bomb but not planning to use it.... RIGHT!

So, effectively, the depositors are now insuring the bank, not the other way around.

Yeah, I think I would rather just stuff it in the mattress. The mattress doesn't steal 10% whenever it gets itself into trouble.

Last Edited by Revbo™ on 03/19/2013 08:10 AM

Is this a distraction for something bigger heading our way? These guys are not stupid, and should know people wont put up with much more of this. Or, are we going to put up with it? DK, but in a game of chess, this would be risky move.

If they set the precedent in Cyprus, it will be everywhere within six weeks...

They already are and will continue to be robbed far more through the inflation tax.
[link to en.wikipedia.org]

But unfortunately,

"Lenin was certainly right. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose."
~John Maynard Keynes, 1919
[link to en.wikiquote.org]

So, there are generally not many people too concerned regarding that, despite it being much more important.

Once again it's time to punish the responsible hard working people for saving some cash, so that the government can give it to the ghetto dwellers...

New Zealand is the Aberdeen Proving Ground of the NWO/PTB

Section III.A.2.a of the Libtard Universal Standards and Codes states:

Banksters have rights above all others, in fact they determine everyone's rights [edit privileges]. They are immune and held harmless to prosecution for any and all malfeasance and fraud. Banksters have created a better world for us all and are truly the only enlightened ones to handle the complexity of modern monetary systems via their central banking authority.

Banksters are our friends.



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Although I don't care for your condescending attitude, you're absolutely correct about who holds all the cards. Once they flip that switch, forget about ever seeing your bank holdings again. Of course, they'll come for your PMs and stored goods anyway. Better be well armed.

We are incredibly indebted as a nation to the BANKS especially as a percentage of income.
Our houses are amongst the most overpriced in the world as a percentage of income,
A housing crash would bankrupt our banks.
Our dollar is also way overvalued and the banks have finaced the large increase in debt on our houses with offshore loans.

Housing crash and dollar crash are a perfect storm for Bank failure.

New Zealand are fuked, the country produces fuk all and imports everything, another colony fail.
While back couldn't get baby milk, shelves empty
More peeps leave every year than arrive.
Those who arrive are very disappointed and most leave after the hype to get them to settle.

Nice place to visit but shite to live,too far from anywhere to be viable for a modern life

i like new zealand great scenery, but now im gratefully i live in safe country away from haircut..