The Secret FDIC Proposal That Puts Your Savings At Risk

I think in the USA it’s called theft…. When the government doesn’t obey it’s own laws?

What happened in Cyprus isn’t a “one off” event.

The financial media and elite have been trying to convince the world that Cyprus was a unique situation… a “one time” deal… and that our money is safe in the banks.

This is untrue.

Spain, Canada, and New Zealand have already proposed similar measures through which individuals’ SAVINGS accounts would be used to prop up the banks during times of Crisis.

It’s called a “bail-in,” but really it’s “THEFT” plain and simple. The banks made the terrible mistakes that rendered them insolvent. They (the banks) should simply fail. But instead of failing, the regulators want to keep the banks in business… using YOUR money.

Why is this?

Read more at zerohedge.com …

And Now New Zealand: National Planning Cyprus-style Solution For New Zealand

And now the siezure fervor moves on … Keep the bank afloat!!! The rally cry…. after government forces loans to those who can’t repay. It’s all there money afterall, just look at who owns the dollar bill in your posket.

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.

Read more here …

New Zealand Enters The Icebox…

Polar blast brings snow to downtown Auckland for first time in 72 years...

…city’s coldest day on record’

Kiwis flummoxed by significant snow

WELLINGTON: New Zealand is shivering through a one-in-50-year polar blast that has brought snow to much of the country, the weather service says.

A bitterly cold southerly blast has caused snow to fall in areas of New Zealand which do not usually receive it, making roads impassable in many areas on both islands, closing airports and cutting power to thousands.

Staff at Wellington Zoo took advantage of the first major snowfall in the capital for 40 years to give the visiting penguin ”Happy Feet” a dip in an icy saltwater pool.