BREAKING!! URGENT!!! FDIC and BOE blueprint for THE FUTURE GLOBAL BANKING FINACIAL INSTITUTIONS

Explain the statement in bold. Whose bad debts? Like mortgages and things?

Sorry i disagree

I too have been on this site for years and never really post anything except when I feel it might reach some actual intelligent rational thinking folks.. I actually tried to start a thread about this but was insta banned before it even was posted lol.. so

Do you know what the symbol for fascism is? a fasces, I dont know how to post the image of it but its image and definition are here - en . wikipedia . org /wiki /Fasces#Fasces _in _the _United _States minus the spaces

Im trying not to be banned again so I dont know how to do links/pics/vids stuff but if you read the info found at link you tell me, is america the land of the free or the fascist land of lies?

sample from site = Two fasces appear on either side of the flag of the United States behind the podium in the United States House of Representatives. - ask yourself if its not a fascist country why, o why would they have these there?

Thank you, I appreciate that.

I wish that I were an expert in banking laws or knew someone who was.

Somebody on this site must know someone that is and could forward a copy of doc to them????

MaxKeiser, SilverDoctors and Ellen Brown all saying it is bad, it just reinforces my beliefs.

Again, I do not pretend to know the answers but I know that GPL will solve the mystery.

WOW great first post Opie!

Okay here's the money shot so to speak taken right from the pdf you posted as issued by the (not) Federal Reserve and the Bank of England (funny seeing those two together, wot?):

The introduction of a statutory bail-in resolution tool
(the power to write down or convert into equity the liabilities of a failing firm).

WE ARE ALL CYPRUS NOW!

Listen up, I do enjoy GLP and would never talk down to anyone. However, as smart as well all are individually we each have our own areas of knowledge/experience and this fits mine.

Grab one of your bank statements for a minute.
Don't mind me, I'll wait.

Got it? Good.

I direct you attention to the following fact:
Your Deposits are listed as CREDITS, right?
And your withdrawals are listed as DEBITS, right?

If you ever took any accounting courses you'll know that DEBITS are either ASSETS or EXPENSES and CREDITS are either LIABILITIES or REVENUES.

The bank statement you hold is written from the issuer's set of books not yours (your account, when it has a balance, is an ASSET to you).

So when you deposit money in the bank it is a CREDIT on their BOOKS - in essence you have LOANED THEM THE MONEY!

This means that if the bank is underwater - i.e. bankrupt where their LIABILITIES (which include your bank account!) are GREATER THAN their assets, one way of "balancing the books" is to convert their LIABILITIES into... wait for it... EQUITY!

So your bank account which you thought was your money was only a LOAN to an INSOLVENT institution and, it gets better (No, I lied, it only gets worse), once there is no longer a way of DENYING that they are INSOLVENT and they have to "MARK" their assets (investments, loans, and, increasingly, real estate) to "MARKET" (i.e. what a WILLING buyer would exchange with a WILLING seller for the right to the asset in question where NEITHER the buyer nor the seller is COMPELLED to execute the transaction)

PRESTO CHANGE-O your bank account is no longer liquid or redeemable in what passes for money (FRNs) but instead now represents SHARES (equity) in the failed institution!

Ain't that a kick in the head!

Guys, Gals, Peoples - this will NOT END WELL.

Therefore I kindly urge you to consider withdrawing your money from these insolvent institutions while you STILL CAN!

I am NOT recommending that you panic (although he who panics first, panics best).

Instead calmly, rationally, carefully and sotto voce withdraw your funds while still allowed to do so in prudent amounts, convert same to 90% junk silver in dimes and quarters and halves.

If you are rich - #1 I am not addressing you, and #2 sure go ahead and buy some gold bullion but mark my words: AFTER the fall REAL money is going to make a come back - there won't be much to buy but what can be bought will be bought in small amounts so I still think silver (the poor man's gold) in an easily recognizable form (90% junk equals worn "silver content only" value coins) will be KING for what will essentially be bartering.

I can't speak for you but I think we've seen this show BEFORE (ask an Argentine or newly pauperized cypRIOT) - capital controls are already here (don't think so? Try accessing YOUR IRA - can't do it without a penalty can you!).

The next act in this first as farce then as tragedy is outfight confiscation and in its place a shiny new share in a failed bank!!

Folks - I shit you not!

FYI: Other things you might want to stock up on even if you don't smoke or drink are cigarettes and alcohol because those are always appreciated in barters-ville and, the way things are going, you may start to drinking and smoking anyway!

Additional still below radar items include (seriously) Tampons (your future sex partners will THANK YOU!), band-aids and OTC medications.

GOOD LUCK and may god have mercy on us all!

March 30th 2013

Minimum income guidelines to be used by the Insolvency Service of Ireland must be published without delay as a series of leaks detailing how little money people will be allowed to live on if they enter a personal insolvency arrangement is causing fear among many distressed borrowers, it has been claimed.

Under guidelines which have yet to be published by the Department of Justice, families who enter an insolvency arrangement could be forbidden from taking holidays for as long as six years while a single adult will be allowed just €31 a month to cover health costs. This will have to cover the cost of over-the-counter medicines, as well as GP visits, trips to the dentist and opticians. This amounts to €373 a year, or the cost of half a crown at an Irish dental practice.

The guidelines will not be published until the middle of April but as a series of leaks over the last week have suggested that people may have to give up their jobs if their income is less than the cost of childcare while health insurance and cars may also have to be surrendered.

The latest leaks suggest that the ISI is considering allowing a single person just €29 a week for "social participation" while people who live close to a public transport network may be forced to sell their cars and be given a monthly allowance of €136 to spend on public transport.

"People will be very scared by what they have been reading,” he told The Irish Times. “We have had a series of leaks which are not without foundation and the aim of them is clearly to condition people into thinking that the insolvency service is not going to be a free-for-all and that there will be a very high price to pay," he said.

[link to www.irishtimes.com]

Guys, I just tried to scan thru these 18 pages and I don't see anything to worry about - in regard to their responses.

Actually, this thing looks pretty good: shareholders and unsecured creditors get wrecked, deposits get protected and (drum roll please) "culpable" senior management get PINK-SLIPPED !!!!!

If I have missed anything nasty, please cite it from this document. Looks very rational to me. They don't want taxpayers hit with the bill - AND THEY PLAINLY SAY SO.

The plan sez The Big Guys get "bailed in" - meaning they LOSE their money and get NEW shares of the reorganized bank.

This is good and fair. It might be years before they get their $ back ! If Ever! They get stuck with the mess!

$250,000 is protected. A huge number of businesses won't have anything like that, at any given moment, in their accounts. If they do, they're idiots. 250K is the law for what's covered, period. More than that, split the $ into different banks.

Please don't tell scare stories about this if you HAVEN'T read it.

The Fed can fund the FDIC overnight and call it a loan or whatever.

The document makes clear that the 'industry' pays for this.

And NO, this isn't Cyprus ! There are many people in Cyprus who would have tears of joy if these 18 pages were applied to them.

250K saves a Whole Lot Of Little Guys, who get favored over Big Guys. This is better.

Found this posted about the FDIC in August 2011

(less than 50% rule observed)

"The fund went negative in the third quarter of 2009, and was at its worst at the end of that year, falling past negative-$20.8 billion...

The dwindling fund in 2009 initially led to fears about the agency's ability to handle the strain. But officials quickly sought to put those worries to rest, repeating in speeches and interviews that the FDIC — required to withdraw from the DIF any money it may need for projected failures — had ample cash. For example, while the fund had just $10 billion left by the middle of 2009, the FDIC in fact had more than $40 billion in cash reserves.

Needing even more cash but not wanting to overburden banks, the FDIC hatched a novel idea. It asked the industry to prepay premiums through 2012 — totaling about $46 billion — in the form of a loan. Banks did not report the expense in advance, but booked the prepayment as an asset that depreciates according to when fees would otherwise be paid.

While the prepayment plan calls for the FDIC returning any unused fees — or charging more if the prepaid amount was insufficient — at the end of the three years, Chessen said the agency should consider giving a portion back sooner.

One reason, he said, was other reforms mandated by Dodd-Frank. Under the law, a premium rate is now multiplied by a bank's assets — minus its capital — instead of by its deposits to calculate a bank's fee, meaning an institution's charge is based on all of its liabilities. The change means community banks with deposits making up a greater share of their funding compared with bigger banks now pay a smaller share of FDIC assessments. But even though smaller banks may owe less, they still have to wait until the end of the three-year period to receive liquidity back that the FDIC did not need, Chessen said." [link to www.bankinvestmentconsultant.com]

It certainly appears that the link above and the document posted by the OP means the FDIC is waaaay short. Game over. We're all about to be 'Corzined'

Then this posted 12 days ago "Richard Newsom, a former bank examiner who specialized in insider-abuse cases for the FDIC in the aftermath of the savings and loan debacle, called the FDIC practice "one more piece of evidence demonstrating the unholy collusion between timid and occasionally rogue government officials and rogue banks" to conceal wrongdoing by banks and lax oversight by regulators." [link to articles.latimes.com]

"There are few things worse than those who plot to lie artfully"

The FDIC is protecting no one but their friends at the BofE and The Federal Reserve...

6037-

What they are talking about is people losing their deposits in a bank at the same rate as the investors in the banks. So small businesses in Cyprus that need to have working capital in a bank to do business just lost money that is in a supposedly safe bank deposit.

How can small businesses operate if they can't use a bank to clear their checks?

This is not an "at risk" investment it is a bank deposit. How are you running your small business, with barter?

release-date of joint paper: 10 December 2012

hhhmmmmmm guess what world's largest money manager, BlackRock Inc., has been doing over the past three months

just a coincidence? You decide..

world's largest money manager pulls back out of Europe. Flight of capital Spain and Italy:
[link to online.wsj.com]


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I have been "stalking" GLP for years...
Got caught in ban and joined, let it expire
I am here everyday

I don't post because my husband really prefers that I don't. We have a good marriage so why rock it.

This is way too important not to post.

He only humors me with my belief but I know he is wrong and I am right.