Bail-In of Western Banking system officially begins... look out UK..US next???

** I added "US Next???" to the title of this thread. That is my own opinion and does not reflect the topic of the source article. The article is about the UK.

Well here it is... Cyprus style "haircuts" are coming to the UK. Not much to say here, except that if you live in the US, UK, Australia, or any other western banking nation you better get your money out now while you still can.

A £1bn capital injection into the bank by its parent, The Co-operative Group, is contingent on enough bondholders agreeing to the deal, the company said on Monday.

Holders of £370m of permanent interest bearing shares (PIBS) issued by the Co-op and Britannia Building Society before its takeover are expected to have their coupons cancelled, making them effectively worthless.

I contend that gold and silver are the best way to preserve your wealth from being stolen. I know, PM's are way down right now, but in my opinion that is by design, through market manipulation, to deter people from exiting the fiat banking system. The fact that they are way down right now means that it is a great time to buy, because gold and silver are highly undervalued at this time. Anyway, stay in the western banking fraud system at your own peril.

Source 1

Sourc e 2

This isn't a bail in. It's how it is suppose to work. Investors (bond holders) lose when a bank fails and needs to be recapitalized. A bail in has depositors losing their money.

That said, bail ins are likely coming our way.

reply to post by OptimusSubprime

I am skeptical about the safety of gold and/or silver. FDR made it illegal to hold gold after the stock market crash that preceded the Great Depression. All U.S. citizens were directed to turn over their gold stockpiles for an undervalued compensation or risk penalty/prosecution. What would keep our gov't from doing it again in order to prop up the Dollar and re-instate the FDIC? FDR was considered a hero for his post crash actions and Public Works Projects. Sure gold and silver have actual value, but even that value is subject to devaluation not related to supply and demand. The truth is that the American public is better at preserving wealth than our banking systems, so the supply rich citizens are once again vulnerable to the Federal Reserve acquisition via executive order of Congress and the President. Many citizens want the Dollar backed by something like when it was by gold. I ask those who propose that solution to take a look a history and contemplate exactly how that would be done, by whom, and at who's expense.

Originally posted by OptimusSubprime
Not much to say here, except that if you live in the US, UK, Australia, or any other western banking nation you better get your money out now while you still can.

Why?

Australia has a triple A credit rating. Our economy is one of the strongest in the world. We've enjoyed more than two decades of uninterrupted economic growth. It continued to grow right through the Global Financial Crisis and none of our banks needed bailing out.

I can understand people in the US and UK getting worried, but down here in Australia we're sitting pretty.

Take it from an account manager......it could be as much as 3 years away.....closettime frame?.......tomorrow.

you guys would ashamed of the system if you'd of seen the shennanigans in forex spot. They have these strings in their hands, you see....opps...gottta go ( I rendered 28% from 2:30 am New York time...to 4am.)

Originally posted by Sankari

Australia has a triple A credit rating. Our economy is one of the strongest in the world. We've enjoyed more than two decades of uninterrupted economic growth. It continued to grow right through the Global Financial Crisis and none of our banks needed bailing out.

The article you linked to is 3 years old. Much has changed since then.

This one is about 8 days old.

www.theaustralian.com.au...

THE Australian dollar slumped to a near three-year low during Asia trade after local economic data disappointed and Goldman Sachs warned the resource-rich country was at risk of a steep economic downturn.

New government figures today showed home loans rose by 0.8 per cent in April, well below the 2 per cent gain expected by economists, signalling a tepid housing sector recovery despite interest rates being at record lows.

The Aussie dollar slid to a session low of 93.82 US cents after the home-loan data were released, its lowest level since September 2010.

In a sign of fading global investor sentiment toward Australia's economy, Goldman Sachs cut its Australia growth and currency forecasts and warned the economy was at risk of recession amid declining corporate spending, a still-high exchange rate, weakening export prices and cutbacks in public spending.

Anyway, makes no odds. Doesn't matter which one goes first, when one goes they take them all down with them.

Originally posted by sligtlyskeptical
This isn't a bail in. It's how it is suppose to work. Investors (bond holders) lose when a bank fails and needs to be recapitalized. A bail in has depositors losing their money.

That said, bail ins are likely coming our way.

Agreed, but this would indeed qualify as a "bail-in" because it includes pension funds. Under the circumstances you describe, pension funds would be excluded, separated, and reimbursed through the FDIC or some other means. I admit that this is not the same as stealing private deposits from customers like we saw in Cyprus, but I contend that this is the first step to it.

Originally posted by Sankari

Originally posted by OptimusSubprime
Not much to say here, except that if you live in the US, UK, Australia, or any other western banking nation you better get your money out now while you still can.

Why?

Australia has a triple A credit rating. Our economy is one of the strongest in the world. We've enjoyed more than two decades of uninterrupted economic growth. It continued to grow right through the Global Financial Crisis and none of our banks needed bailing out.

I can understand people in the US and UK getting worried, but down here in Australia we're sitting pretty.

edit on 20/6/13 by Sankari because: added url...

A house built on sand my dear built upon sand i say..........

reply to post by OptimusSubprime

Not worried as dont have much in the bank anyway Its the rich folks who needs to shuffle things around

I work for the bank, and i tell my collegues at work about this site all the time.

I'm so gonna tell them about this thread tomorrow!

reply to post by Sankari



All developing countries including Australia are in the Pockets of the big banking institutions that belong to the banking scam call the IMF, feed by the US Federal reserve, the economies are intertwined, so believe me if I tell you that if the US and the UK economies and banking system goes down the crapper so the Australia also, depending how much the Australian government has invested the country resources to the global economy.

reply to post by OptimusSubprime


The UK and any other big economic powers already has been bailing out their banking system with the QEs, US is doing it monthly at a tune of 80+ Billions and growing, here is call QEs but other countries call it something else.

reply to post by Sankari


Your dollar is getting hammered atm, sitting pretty now?

Originally posted by marg6043
reply to post by Sankari

 

All developing countries including Australia are in the Pockets of the big banking institutions that belong to the banking scam call the IMF, feed by the US Federal reserve, the economies are intertwined, so believe me if I tell you that if the US and the UK economies and banking system goes down the crapper so the Australia also, depending how much the Australian government has invested the country resources to the global economy.

Actually all economies are tied together so if one goes they will all eventually go down even those without central banks like Syria, Iran and North Korea (though they would not have far to fall)! The Global Ponzi scheme is well in place! Though I doubt we will see it topple this year. I believe they will keep propping it up with whomevers monies they can coerce into it! IMO this means retirement funds! I doubt there will be another intentional crash as the elite already have most of the wealth but what do I know!

"I know, PM's are way down right now"

Yes paper silver/gold because they all know that the paper is being sold at a ratio of 100:1 and the pyramid scam is about to blow leaving them with worthless bits of paper but the price for physical gold/silver today has hardly moved from where it was a years ago and if it was cheaper then I would be buying.

We are already part of the bail-in due to money printing and low saver rates and the talk about taking money from bank accounts is to make people see cash as being in danger and to run down to the casino to do a spot of gambling.

Cash under the bed getting zero instead of one percent interest seems like a good move if you don't let money burn a whole in your pockets.

I keep my savings in a place where it cannot be seized in the event of cypress style haircuts. I only use checking for my business needs (I'm self employed). Otherwise, to hell with the banks (and I use a credit union).

But let the day come when the time comes for an armed US populace to receive "haircuts". The streets will be awash with crimson.