Posted on 11/16/2014 7:23:09 PM PST by dontreadthis
This weekend the G20 nations will convene in Brisbane, Australia to conclude a week of Asian festivities that began in Beijing for the developed countries and major economies. And on Sunday, the biggest deal of the week will be made as the G20 will formally announce new banking rules that are expected to send shock waves to anyone holding a checking, savings, or money market account in a financial institution.
On Nov. 16, the G20 will implement a new policy that makes bank deposits on par with paper investments, subjecting account holders to declines that one might experience from holding a stock or other security when the next financial banking crisis occurs. Additionally, all member nations of the G20 will immediately submit and pass legislation that will fulfill this program, creating a new paradigm where banks no longer recognize your deposits as money, but as liabilities and securitized capital owned and controlled by the bank or institution.
In essence, the Cyprus template of 2011 will be fully implemented in every major economy, and place bank depositors as the primary instrument of the next bailouts when the next crisis occurs...
(Excerpt) Read more at economicpolicyjournal.com ...
ping.
Bank deposits have never been considered money. They are an asset to you and a liability on the banks balance sheet. When a bank goes belly up, the ONLY thing protecting you is FDIC insurance.
If you think your money is yours in a bank, go back to a high school economics class—or watch it’s a wonderful life.
Regardless of the semantics, it is time to burn the “bankers” at the stake and put an end to the shenanigans. The “Money Changers” have absolutely too much “influence” and must be put down, IMO.
It’s time to stop the nonsense and put the “Free Market” back in the drivers seat, along with “regulations” that keep the “money Changers’ in their place, IMO.
I prefer It’s a Wonderful Life with the “Lost Ending”
http://www.ebaumsworld.com/video/watch/81249131/
No argument here.
What they did do is to establish a new order of priority for depositors in the case of a bank failure. It pushed depositors down the list of who can recover what. Still with FDIC it should not matter in the US. Other places, I am not sure.
FDIC is kaput last I heard.
That might be what they want, but that isn't what they will get. People will take their money out of the matrix entirely, or put it in the stock market to get some return.
So, are they going to end FDIC insurance?
Spot gold has jumped up $40 in the last 12 hours. HHHHMMMMMMM...
FDIC will guarantee the money, but they don’t guarantee, say , that you will be able to withdraw it. Or withdraw it in the next ten years.
IOW, they're gearing up to pop the fiat-money bubble and laugh at you when you expect the FICA insurance to kick in… I'm reminded of this:
(Gen 47:13-26)The priests in our American tale are the bankers, who have saved for themselves lands and monies; the Pharaoh/Joseph is the political elite… and they do not have our interest at heart at all.
Now there was no food in all the land, for the famine was very severe. The land of Egypt and the land of Canaan languished because of the famine. Joseph collected all the money to be found in the land of Egypt and in the land of Canaan, in exchange for the grain that they bought; and Joseph brought the money into Pharaoh’s house. When the money from the land of Egypt and from the land of Canaan was spent, all the Egyptians came to Joseph, and said, “Give us food! Why should we die before your eyes? For our money is gone.” And Joseph answered, “Give me your livestock, and I will give you food in exchange for your livestock, if your money is gone.” So they brought their livestock to Joseph; and Joseph gave them food in exchange for the horses, the flocks, the herds, and the donkeys. That year he supplied them with food in exchange for all their livestock. When that year was ended, they came to him the following year, and said to him, “We cannot hide from my lord that our money is all spent; and the herds of cattle are my lord’s. There is nothing left in the sight of my lord but our bodies and our lands. Shall we die before your eyes, both we and our land? Buy us and our land in exchange for food. We with our land will become slaves to Pharaoh; just give us seed, so that we may live and not die, and that the land may not become desolate.”
So Joseph bought all the land of Egypt for Pharaoh. All the Egyptians sold their fields, because the famine was severe upon them; and the land became Pharaoh’s. As for the people, he made slaves of them from one end of Egypt to the other. Only the land of the priests he did not buy; for the priests had a fixed allowance from Pharaoh, and lived on the allowance that Pharaoh gave them; therefore they did not sell their land. Then Joseph said to the people, “Now that I have this day bought you and your land for Pharaoh, here is seed for you; sow the land. And at the harvests you shall give one-fifth to Pharaoh, and four-fifths shall be your own, as seed for the field and as food for yourselves and your households, and as food for your little ones.” They said, “You have saved our lives; may it please my lord, we will be slaves to Pharaoh.” So Joseph made it a statute concerning the land of Egypt, and it stands to this day, that Pharaoh should have the fifth. The land of the priests alone did not become Pharaoh’s.
Do you have a reference for that statemment?
>>I prefer It’s a Wonderful Life with the “Lost Ending”
http://www.ebaumsworld.com/video/watch/81249131/<<
I have never seen that! it was freaking HILARIOUS!
Correction: FDIC.
(Why was I thinking FICA?)
“FDIC is kaput last I heard. “
—
And where did you hear that?
.
Thought you guys might find this interesting news.
FDIC nis a freaking joke!
If a banknote cannot be subjected to a decline in nominal value, we need to ask whether banknotes can act as a superior store of value than bank deposits? If that is the case, will some investors prefer banknotes to bank deposits as a form of savings? Such a change in preference is known as a “bank run.”
Read more
http://www.zerohedge.com/news/2014-11-12/russell-napier-declares-november-16-2014-day-money-dies
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