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the_ignored
SFN Addict
2562 Posts |
 Posted - 03/29/2013 : 22:11:40
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This is an article from "Alternet". Does anyone know how reliable these guys are? Are they the left's version of the World Net Daily or something? I'd hope that they are, because oh boy...
| Confiscating the customer deposits in Cyprus banks, it seems, was not a one-off, desperate idea of a few Eurozone "troika" officials scrambling to salvage their balance sheets. A joint paper by the US Federal Deposit Insurance Corporation and the Bank of England dated December 10, 2012, shows that these plans have been long in the making; that they originated with the G20 Financial Stability Board in Basel, Switzerland (discussed earlier here); and that the result will be to deliver clear title to the banks of depositor funds. |
The rest of the article is about as encouraging.
An FDIC confiscation of deposits to recapitalize the banks is far different from a simple tax on taxpayers to pay government expenses. The government's debt is at least arguably the people’s debt, since the government is there to provide services for the people. But when the banks get into trouble with their derivative schemes, they are not serving depositors, who are not getting a cut of the profits. Taking depositor funds is simply theft.
What should be done is to raise FDIC insurance premiums and make the banks pay to keep their depositors whole, but premiums are already high; and the FDIC, like other government regulatory agencies, is subject to regulatory capture. Deposit insurance has failed, and so has the private banking system that has depended on it for the trust that makes banking work. |
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>From: enuffenuff@fastmail.fm
(excerpt follows):
> I'm looking to teach these two bastards a lesson they'll never forget.
> Personal visit by mates of mine. No violence, just a wee little chat.
>
> **** has also committed more crimes than you can count with his
> incitement of hatred against a religion. That law came in about 2007
> much to ****'s ignorance. That is fact and his writing will become well
> know as well as him becoming a publicly known icon of hatred.
>
> Good luck with that fuckwit. And Reynold, fucking run, and don't stop.
> Disappear would be best as it was you who dared to attack me on my
> illness knowing nothing of the cause. You disgust me and you are top of
> the list boy. Again, no violence. Just regular reminders of who's there
> and visits to see you are behaving. Nothing scary in reality. But I'd
> still disappear if I was you.
What brought that on? this. Original posting here.
Another example of this guy's lunacy here. |
Edited by - the_ignored on 03/29/2013 22:19:33
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sailingsoul
SFN Addict
2830 Posts |
 Posted - 03/30/2013 : 07:25:07 [Permalink]
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| I caught that article, I wasn't sure if the author was trying to inject a bit of panic or insecurity in bank account holders or inform. Either way or whatever the reason what's the difference from what they just did with the last bailout? I don't see that articles reporting a different approach to saving failing banks is any different than a government bailout with loans, bonds, stocks or cash. It is the citizens aka depositors of all bank that are paying for any private bank failure and bad business decisions. I have no doubt it could happen again because the system that allowed it in the past is still in place, unchanged by a single law, banking rule or regulation. Banks pay effectively no or very little interest, so why would anyone keep any real money in them? |
There are only two types of religious people, the deceivers and the deceived. SS |
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the_ignored
SFN Addict
2562 Posts |
Posted - 03/30/2013 : 07:50:30 [Permalink]
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Where else would we put our money? The stock market? How stable is that? I'm just hoping that up here in Canada it's not as bad as it seems in the States and Europe. Our banks didn't need bailouts as far as I know, and the Royal Bank (my bank) is the only one in Canada that didn't get a downgraded credit rating.
It sure seems the rapturite people are not trusting the banks...they're quoting news reports that mention that other countries are thinking of the same thing |
>From: enuffenuff@fastmail.fm
(excerpt follows):
> I'm looking to teach these two bastards a lesson they'll never forget.
> Personal visit by mates of mine. No violence, just a wee little chat.
>
> **** has also committed more crimes than you can count with his
> incitement of hatred against a religion. That law came in about 2007
> much to ****'s ignorance. That is fact and his writing will become well
> know as well as him becoming a publicly known icon of hatred.
>
> Good luck with that fuckwit. And Reynold, fucking run, and don't stop.
> Disappear would be best as it was you who dared to attack me on my
> illness knowing nothing of the cause. You disgust me and you are top of
> the list boy. Again, no violence. Just regular reminders of who's there
> and visits to see you are behaving. Nothing scary in reality. But I'd
> still disappear if I was you.
What brought that on? this. Original posting here.
Another example of this guy's lunacy here. |
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paulcoffman
New Member
USA
1 Post |
Posted - 04/23/2013 : 23:14:08 [Permalink]
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| Totally agreeable. When public has no share in any of banks activities then Banks have no right to confiscate anybody's funds this way. After all Bank deposits are to improve finances and not to get rid of them through confiscation for random bank reasons. |
for structured settlement
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So, how safe are OUR banks?
