January 1, 2016: The New Bank Bail-In System Goes Into Effect In Europe

I am not sure how retirement accounts work in Europe so this is more of an FYI on the plans going into effect shortly.

We already know they have planned this for years (see article from 2013:

The Confiscation Scheme Planned for US and UK Depositors
www.huffingtonpost.com...

Be prepared.


www.blacklistednews.com...

If you have a bank account anywhere in Europe, you need to read this article. On January 1st, 2016, a new bail-in system will go into effect for all European banks. This new system is based on the Cyprus bank bail-ins that we witnessed a few years ago. If you will remember, money was grabbed from anyone that had more than 100,000 euros in their bank accounts in order to bail out the banks. Now the exact same principles that were used in Cyprus are going to apply to all of Europe. And with the entire global financial system teetering on the brink of chaos, that is not good news for those that have large amounts of money stashed in shaky European banks.

Below, I have shared part of an announcement about this new bail-in system that comes directly from the official website of the European Parliament. I want you to notice that they explicitly say that “unsecured depositors would be affected last”. What they really mean is that any time a bank in Europe fails, they are going to come after private bank accounts once the shareholders and bond holders have been wiped out. So if you have more than 100,000 euros in a European bank right now, you are potentially on the hook when that bank goes under…



The directive establishes a bail-in system which will ensure that taxpayers will be last in the line to the pay the bills of a struggling bank. In a bail-in, creditors, according to a pre-defined hierarchy, forfeit some or all of their holdings to keep the bank alive. The bail-in system will apply from 1 January 2016.

The bail-in tool set out in the directive would require shareholders and bond holders to take the first big hits. Unsecured depositors (over €100,000) would be affected last, in many cases even after the bank-financed resolution fund and the national deposit guarantee fund in the country where it is located have stepped in to help stabilize the bank. Smaller depositors would in any case be explicitly excluded from any bail-in.

Well the Swiss are nearly all electronic transactions now, but it seems they know how o run banks so I doubt they will ever suffer. However, we must remember that may European banks operate in various countries. So if you own a business, figure out how liberate yourself from the banking sector. If it were me, I would switch exclusively to C.O.D. or cutting checks when dealing with your vendors.

It can be done with enough effort, but peace of mind is worth the effort. We have had our convenience for far too long with no cost. Now we have to pay. We can pay in making our accounts vulnerable, or we can pay by making more effort to stay away from banks. I suspect the states are only another election cycle (after 2016) away from similar legislation popping up here.

Remember, metal money is on a bottom trend, convert your papers notes. I would guesstimate a good 6-18 month buying window right now for metal money before it costs more in paper money to convert.

a reply to: infolurker

The translation is the banks cannot balance their books so they are coming for your money.....what a joke especially considering the money is nothing but digits on a screen....

originally posted by: hopenotfeariswhatweneed
a reply to: infolurker

The translation is the banks cannot balance their books so they are coming for your money.....what a joke especially considering the money is nothing but digits on a screen....

This is the nub of it, you are not telling me that with electronic transfers, if you run out of dollars ,like any video game you just invent some and pass them on. Who's to know?, with all the shenanigans going down they invent the money by selling Gov bonds . It enters the system, if the general population realised this was the way it was done, they would start asking questions like , "why am I poor?"

a reply to: infolurker

Thanks for the heads up. I have always been a mutual goodwill kind of guy who invests his wealth into moveable, securable materials and goods so I personally will snooze through the whole banking thing..... surprises aside.

I would love for people to see that debt or deposit toward faceless banks that do not have to take response ability or face consequences is a bad idea, but as far as I can see this is never going to happen. Nothing new.

So all bad news like this, how bad it may be, I consider good news. Once I concluded that there is no ""saving the system"" or ""saving the people"" all news that foreshadow things imploding is Good News. No matter how bad the followup. It never was not going to happen anyway. Better to stand ready to stick on band aids when the wounded coming flowing in so to speak.

Kind Regards

originally posted by: hopenotfeariswhatweneed
a reply to: infolurker

The translation is the banks cannot balance their books so they are coming for your money.....what a joke especially considering the money is nothing but digits on a screen....

If you put it in the bank it is not "your" money. When you deposit money in a checking or savings account, that money no longer belongs to you. Technically and legally, it becomes the property of the bank, and the bank just issues you what amounts to an IOU. As far as the bank is concerned, it’s an unsecured debt.

Luckily most oft the people around me don't have anywhere near 100.000 euros in a bank account.

a reply to: meiosismb

The small business owners and professionals in your city may. If their accounts get tapped, how do we expect they get to keep their businesses open and staff paid?? See how it ends up trickling down without even realizing it?

Maybe you have a relative who is clerical staff at a doctors firm that has man practicing physicians. That relative does not even have a bank account, so any action the bank takes would be irrelevant. But the employer, the firm consolidated into a corp. on paper with its own bank account, and has a deposit with the bank that needs to plunder the 100k+ club?? Well maybe they lose only %60?? Now how many offices will they have to close as a result in order to stay operational as a whole??

Same goes with anyone you bring an insurance card to for care. Or an attorney. Local family owned grocery thats been opened for decades. It could be a church, or an Auto Zone, or the Franchise owner of your local McDonalds. That is how intertwined this FUBAR # is.

The only reason they would be doing it now is because they are getting ready to use it. Watch out. Identify which businesses may become vulnerable to this in your community and see to it you have a contingency if they cannot survive the storm and have to close up shop

a reply to: corblimeyguvnor

In the use, your dollars are promissory notes, reserve notes. Created out of nothing backing it up.