Top U.S. banks have pledged customers’ deposits as collateral for derivative gambling debts
by: J. D. Heyes
NaturalNews.com
Thursday, January 14, 2016
Are banks in the world’s great Western powers (and one superpower) preparing to confiscate your accounts in order to quench their insatiable appetites for your private property (i.e., your money)? That’s very likely coming to a bank near you soon, says one observer.
Seasoned journalist financial and geopolitical analyst Mark Nestman, of Nestman.com, wrote in a recent column that “Cyprus-style bail-ins” are on the horizon, as embattled Western and Asian governments eye ways to perpetuate their shell-game economies.
In particular, Nestman reported:
On November 16, leaders of the G20 Group of Nations — the 20 largest economies — made an important decision. The world’s megabanks now have official permission to pledge depositor accounts as collateral to make leveraged derivative bets. And if they lose a bet, the counterparty to the contract has first dibs on your money.
The governments of these 20 countries are now supposed to put these arrangements into law. Most, including the US, have already done so.
Nestman, a founding member of The Sovereign Society — a liberty-minded, free-market-promoting organization established in 1998 to help people protect their investments from over-reaching governments — says most people have no idea that the G20 nations have implemented such a scheme, “because it was mostly ‘more of the same’ — the latest plan to have central banks inject trillions more dollars into the global economy.”
The Rest…HERE
