Banks Can Now Confiscate 80 Per Cent of Your Bank Deposits-Find Out the Most Vulnerable Bank…

Monday, July 27, 2015
By Paul Martin

GramsGold.com
7/27/2015

On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again.

It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability Board’s “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” which completely changes the rules of banking,” reports Ellen Brown, Public Banking Institute founder, and author.

A May 2013 article in USA Today titled “Can FDIC Handle the Failure of a Megabank?” said:

“So, you are going to have to save yourselves, and the way you are going to have to do it is by bailing in the money
of your creditors.
The largest class of creditors of any bank is the depositors.”

“[T]he biggest failure the FDIC has handled was Washington Mutual in 2008. And while that was plenty big with $307 billion in assets, it was a small fry compared with the $2.5 trillion in assets today at JPMorgan Chase, the $2.2 trillion at Bank of America or the $1.9 trillion at Citigroup.

. . . There was no possibility that the FDIC could take on the rescue of a Citigroup or Bank of America when the full-fledged financial crisis broke in the fall of that year and threatened the solvency of even the biggest banks.”

That was, in fact, the reason the US Treasury and the Federal Reserve had to step in to bail out the banks: the FDIC wasn’t up to the task. The 2010 Dodd-Frank Act was supposed to ensure that this never happened again. But as USA writes, there are “numerous skeptics that the FDIC or any regulator can actually manage this, especially in the heat of a crisis when many banks are threatened at once.”

The Rest…HERE

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