Bail-out Is Out, Bail-in Is In: Time for Some Publicly-Owned Banks

Ellen Brown • www.opednews.com • April 30, 2013

“[W]ith Cyprus . . . the game itself changed. By raiding the depositors’ accounts, a major central bank has gone where they would not previously have dared. The Rubicon has been crossed.”
–Eric Sprott, Shree Kargutkar, “Caveat Depositor”

The crossing of the Rubicon into the confiscation of depositor funds was not a one-off emergency measure limited to Cyprus. Similar “bail-in” policies are now appearing in multiple countries. (See my earlier articles here.) What triggered the new rules may have been a series of game-changing events including the refusal of Iceland to bail out its banks and their depositors; Bank of America’s commingling of its ominously risky derivatives arm with its depository arm over the objections of the FDIC; and the fact that most EU banks are now insolvent. A crisis in a major nation such as Spain or Italy could lead to a chain of defaults beyond anyone’s control, and beyond the ability of federal deposit insurance schemes to reimburse depositors.

The new rules for keeping the too-big-to-fail banks alive: use creditor funds, including uninsured deposits, to recapitalize failing banks.

Read the article here.

Bookmark and Share

2 Responses

  1. IN SINCRONIA PERFETTA CON IL PROFESSORE JEAN ZIEGLER, RELATORE SPECIALE ALL’ONU, NOI CITTADINI ITALIANI DELLA REPUBBLICA ITALIANA E PROTETTI DAI DIRITTI E GARANZIE DELLA NOSTRA COSTITUZINE, STIAMO SOLLECITANDO ALLA MAGISTRATURA ITALIANA ED A QUELLA INTERNAZIONALE/EUROPEA,…:

    4 COMMISSIONI D’INCHIESTA,.., UNA DELLA DNA DIREZIONE NAZIONALE ANTIMAFIA, UNA DEL PARLAMENTO, UNA DELLA MAGISTRATURA DEL TRIBUNALE DI STRASBURGO PER SISTEMATICA VIOLAZIONE DEI DIRITTI UMANI ED UNA DELLA MAGISTRATURA DEL TRIBUNALE PENALE INTERNAZIONALE DELL’AJA PER CRIMINI CONTRO L’UMANIT + REATI CONNESSI,..ABBIAMO CON NOI ANCHE IL PROFESSORE JEAN ZIGLER, RELATORE SPECIALE ALL’ONU,..CHE AFFERMAVA,..: “Gli speculatori borsistici che hanno rovinato le economie occidentali per lucro e avidit folle, dovrebbero essere trascinati davanti ad un tribunale di Norimberga per crimini contro lumanit, la considerazione di J. Ziegler. Nel suo saggio Distruzione di massa. Geopolitica della fame (Seuil, 2011), Jean Ziegler denuncia questa distruzione massiva causata dai mercati finanziari. IN ITALIA LE BANCHE HANNO SOTTOSCRITTO ACCORDI CORRUTTIVI CON PARTI DEVIATE DELLO STATO ALTERANDO PESANTEMENTE IL FUNZIONAMENTO DELLA GIUSTIZIA SULL’INTERO TERRITORIO NAZIONALE E SIN DAL 1996 AL 2013, CON POTENTI EFFETTI TUTTORA IN CORSO,.. QUESTI CRIMINALI NON AVRANNO PIU’ UN POSTO AL MONDO OVE NASCONDERSI,..!!!

  2. Hello Public Banking, We agree that PB is very good, but what are we to do about making it a reality? It is all talk but no action. What is the action? Cass

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: