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Depositors Die and Banks Live in Next Financial Calamity

 
Chugiakian
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01/06/2016 12:50 AM
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Depositors Die and Banks Live in Next Financial Calamity


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Ellen Brown-Depositors Die and Banks Live in Next Financial Calamity
Public banking expert Ellen Brown warns that people are more at risk in the U.S. to lose their savings because the five biggest banks have nearly $250 trillion in derivatives. In a financial calamity that could cause mass bankruptcies, recent legislation says the derivative holders will be paid first. Brown explains, “The have super priority over everything. . . . All the creditors’ money will be taken in a bail-in. A bail-in is the opposite of a bankruptcy. In a bankruptcy, the bank is liquidated in order to pay off the creditors. In a bail-in, the creditors’ money is taken in order to keep the bank alive. So, we get to die while the bank lives instead of the reverse. They specifically say ‘creditors’ which means shareholders and bond holders, but what most people don’t realize is depositors are also considered creditors. When you put your money in a bank, it becomes the property of the bank, and all you have is an IOU.”
Chugiakian
Chugiakian  (OP)

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01/06/2016 12:52 AM
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Re: Depositors Die and Banks Live in Next Financial Calamity
Coming to a bank near you....


Thread: WARNING to ALL UK bank depositors - New Rules Effective Tomorrow - Here come the BAIL INS!!!
Chugiakian
Chugiakian  (OP)

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01/06/2016 12:54 AM
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Re: Depositors Die and Banks Live in Next Financial Calamity
End of Capitalism Is Here-Ellen Brown


Public banking expert and attorney Ellen Brown says, “Your life savings could be wiped out in a derivatives collapse.” Brown explains, “Nobody anticipated what happened in 2008, and that was a $700 billion bailout. Even if the FDIC tapped its Treasury line, that’s only $500 billion. So, certainly things could go wrong. Also, why are they rushing to put these things into place? They’re expecting something.” Brown goes on to point out, “They think they have avoided too-big-to-fail, but what they have actually done is formalize too-big-to-fail. I mean it’s the end of capitalism. There is no such thing as too-big-to-fail in a capitalistic society where you say certain corporations can’t fail. If you have to take the people’s money to prop them up, it’s no longer capitalism.”

[link to usawatchdog.com]
Chugiakian
Chugiakian  (OP)

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01/06/2016 01:15 AM
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Re: Depositors Die and Banks Live in Next Financial Calamity
When you deposit money into a bank, you freely give them your money in return for an IOU.
It no longer is your money, and you become a Creditor...... more specifically, you are an UNSECURED CREDITOR!
Chugiakian
Sarah Conner

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01/06/2016 01:49 AM
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Re: Depositors Die and Banks Live in Next Financial Calamity
I want her book.

Great post, OP.
Chugiakian  (OP)

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01/06/2016 01:51 AM
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Re: Depositors Die and Banks Live in Next Financial Calamity
I want her book.

Great post, OP.
 Quoting: Sarah Conner


I encourage reading her Web of Debt book.
Having personally spoken to Ellen Brown, there is much to gain by going to a public banking system like N. Dakota uses right now.
Chugiakian





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