HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » Yes. This is the heart of...

Tue Sep 17, 2013, 05:29 AM

Yes. This is the heart of the matter.

... Basel III and the new bail-in rules. Basel III is slated to impose crippling capital requirements on public, cooperative and community banks, coercing their sale to large multinational banks.

The “bail-in” template was first tested in Cyprus and follows regulations imposed by the FSB in 2011. Too-big-to-fail banks are required to draft “living wills” setting forth how they will avoid insolvency in the absence of government bailouts. The FSB solution is to “bail in” creditors – including depositors – turning deposits into bank stock, effectively confiscating them...

A massive, on an historical scale, extraction of financial sovereignty (and therefore economic and therefore political power) from the People and its concentration, after much manipulation, in the hands of a ('chosen') Few.

I would be very surprised (although delighted) to see the current US administration (or those in the 'shadows' behind it) deviate from this course.

They just need to keep the 'right' Generals, Intelligence Chiefs, etc. 'on board'.

(P.S. Please forgive my perhaps 'excessive' use of quotation marks around terms... Our language is being so much abused by the propaganda machine employed in the service of the above that it appears to me necessary to highlight those terms the real and the propagandised meanings of which are worth thinking about.)

1 replies, views

Reply to this thread

Back to top Alert abuse

Reply to this thread