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| He is hungry and he is looking for your savings! www.tntmagazine.com |
“If
there is a risk in a bank,” he said, “our first question should be ‘Okay, what
are you in the bank going to do about that? What can you do to recapitalize
yourself?’ If the bank can’t do it, then we’ll talk to the shareholders and the
bondholders, we’ll ask them to contribute in recapitalizing the bank, and if
necessary the uninsured deposit holders.”
In other words, shareholders and bond
holders can expect a major haircut.
Then consider what the Bank of England and
the American Federal Deposit Insurance Corporation (FDIC) have been jointly considering
how savings deposits which are said to be guaranteed for the average saver or depositor
will instead be used to bail out failing banks.
Hard to believe. (See more on this at http://tiny.cc/z4jcuw
) In other words, savers who thought their
deposits were guaranteed for up to the first 100,000 may want to rethink that
position.
In Spain, the Finance Minister has said
that the Spanish government will put a levy (read tax) on banks based on the total
amount of savings they hold. Bank
account holders in Spain can expect to pay this indirect tax through higher
fees and lower service levels. (See more
at: http://tinyurl.com/cedrumy)
To reduce this to its most basic, the logic
and math of the economists says:
Banks and governments need more money to
sustain their debt and overleveraged risks.
They cannot raise more through taxing a
declining economy.
They are running out of accounting tricks
to kick the can down the road.
Printing money is not working.
Savers have money.
The banks and the governments will
change the rules so they can get the money.
Seen collectively, the economists who work
for the banks and the government know where your money is and they need it.
They are casting a predatory eye on your savings.
Unfortunately, the politicians will not
stop this. Their own positions are closely aligned to the banks so they will
assist the process. (See http://tinyurl.com/cdrnm7f)
This is economics for the rest of us. Savers beware.
NYT article today (3/27) "Europeans Planted Seeds of Crisis in Cyprus"is a 'planted story' as I posted to the Times:
ReplyDeleteNote to the NYT editors (and reporters Higgins and Alderman):
By doing some homework/research and reading the following article from WSJ (Jan 21, 2013), it is pretty damn obvious "Where the seeds were planted" --- from the disguised corporate/financial/militarist/media/legal and political Global Empire (only posing as our former country):
"
By Helen Power
Of PRIVATE EQUITY NEWS
The managing director of the Institute of International Finance, the financial sector lobby group, is to join investment manager Partners Group as vice-chairman.
Charles Dallara, who has run the IIF for the last 20 years, will join the board of Zug-based Partners Group, which is listed on the Swiss stock exchange and has 28 billion euro under management.
Partners Group Chief Executive Steffen Meister said: "In his new role Charles will focus primarily on the further development of our business and network both in the Americas as well as internationally."
Under Mr. Dallara's stewardship the IIF has grown into the biggest representative of the financial sector in the world, counting commercial and investment banks as well as insurers and asset managers amongst its members.
The body helped to coordinate the restructuring agreement between private creditors and Greece, a process that was chaired by Mr Dallara. Before joining the IIF, Mr. Dallara worked in politics, serving both Ronald Regan and George Bush Senior. "
http://online.wsj.com/article/BT-CO-20130121-706680.html
But far more than a scam by this disguised Global Empire to extract money from Cyprus, the real story behind this cover-story of mere extraction, is the plot line to keep the unsustainable Empire going --- which always depends on WAR.
In the case of Cyprus, the extraction of funds (up to 40% or more) is from Russia --- and who knows better how to loot the former Soviet Union that Goldman Sachs, Morgan Stanley, et al.
Sure the looting by expropriation, seizure, confiscation, et al is supposedly legal (by Empire standards), and will help the Global Empire's financial sector, but the real 'double bang for the buck' in this slickster deal is the WAR with Russia that it will ultimately precipitate --- as WAR is the only leg to stand-on of a Global Empire that can not stand alone.
The contrived WAR with Russia will help the militarist sector of the Global Empire (the global arms makers, the MIC, the "Merchants of Dearth" if you will) AND it will also terrorize citizens (oops 'subjects') throughout the world into fearful SHOCK (Naomi Klein) and allowing what people still think are 'their' governments to do ANYTHING to save them!!
Wow, what a fabulously successful scam in the making --- now that people in some countries (like the Occupy the Empire movement in the US) are just starting to discover and expose the strings of the camouflaged Global EMPIRE that are really pulling the arms of the phony political pawns/puppets of the Global Empire's 'political'-front sector).
This looks like the ultimate (and perhaps last, existential, death-spiral dance) for this first "truly Global Empire" [Milne, Hardt, Negri, Perkins, et al.] and its faster than a nuclear trigger, explosive implosion.
Best luck and love to the fast expanding 'Occupy the Empire' educational and revolutionary movement against this deceitful, guileful, disguised EMPIRE, which can't so easily be identified as wearing Red Coats, Red Stars, nor funny looking Nazi helmets ---- quite yet!
Liberty, democracy, justice, and equality
Over
Violent/'Vichy' Rel 2.0
Empire,
Alan MacDonald
Sanford, Maine
Indeed. The power that the banks and financial institutions have obtained means they can frequently dictate policy to the government. In this new form of inverted totalitarianism, it will be interesting to see if this much power and influence in one sector of civil society will cause even more social unrest.
Deletehttp://tinyurl.com/cdrnm7f