AMERICANS WARNED BANK ‘BAIL- INS’ COMING

I don’t know about you, but when I read a headline like this it honestly makes me nervous. And such nervousness is for good reason.  Think “Cyprus” that was the launch of the bank “bail-in” concept, and it was not a fantasy, it happened.  Since it did not happen to us here in the USA we have no first hand experience with this, but as you will learn in the article written by F. Michael Maloof for WND, he predicts that everybody in the USA will have a front row seat for this in the not too distant future.

Mr. Maloof states in his article that; “Experts say institutions will grab deposits without warning”.

And, “With the United States facing a $17 trillion debt and an acidic debate in Washington over raising that debt limit on top of a potential government shutdown, Congress could mimic recent European action to let banks initiate a “bail-in” to blunt future failures, experts say.”

And, “Some financial experts contend that banks already have the legal authority to confiscate depositors’ money without warning, and at their discretion. Financial analyst Jim Sinclair warned that the U.S. banks most likely to be “bailed-in” by their depositors are those institutions that received government bail-out funds in 2008-2009”.

CLICK HERE TO READ ENTIRE SOURCE ARTICLE

And as if that article is not enough to ignite a certain level of nervousness, there is also this article;

Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe

CYPRESS ATM

By By Michael Snyder, on September 24th, 2013, who states in his article;

“Now that “bail-ins” have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again.  In fact, Cyprus-style wealth confiscation is already starting to happen all around the world.  As you will read about below, private pension funds were just raided by the government in Poland, and a “bail-in” is being organized for one of the largest banks in Italy.  Unfortunately, this is just the beginning.  The precedent that was set in Cyprus is being used as a template for establishing bail-in procedures in New Zealand, Canada and all over Europe.  It is only a matter of time before we see this exact same type of thing happen in the United States as well.  From now on, anyone that keeps a large amount of money in any single bank account or retirement fund is being incredibly foolish”.

CLICK HERE TO READ THIS ENTIRE SOURCE ARTICLE

Bankster 2

Of course none of us living here in the USA have ever even thought about this as a possibility let alone a probability.  This sort of things has just not been in the lexicon of our reality.  So, even now while writing this I’m trying to get my mind wrapped around this concept. This is “difficult” for sure.

What can we do to insulate ourselves from this happening to us?  I don’t have the silver bullet answer to that question, but one clue that would be a good place to start is given in the quote above for the article written by Mr. Maloof, where he quotes; “Financial analyst Jim Sinclair warned that the U.S. banks most likely to be “bailed-in” by their depositors are those institutions that received government bail-out funds in 2008-2009”.

Moving your accounts to banks that were not in receipt of the “TARP Bail-out” funds is probably the best and most immediate  place to start.  While further thought and strategy goes into establishing the best “firewall” and diversification plan you can.

CLICK HERE TO GET A LIST OF ALL THE BANKS THAT RECEIVED TARP BAIL-OUT FUNDS

As if we don’t all have enough things to worry about.

 

 

 

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