Bail In Not Bail Out

In the U.S. in 2008, we had the "too big to fail" bail out of banks at tax payers' expense.

Now, in 2023, there is talk of the European Central Bank simply stealing their depositors' funds directly. That is what a "bail in" is.

A report by Greg Reese: European Central Bank Preparing for Bail Ins & Banking Collapse

a reply to: DevotedResearcher

Anonymous sources are notoriously unreliable and easily made up how is this doom peddler's source any different ?

a reply to: gortex

In today's world, we the people must, as a matter of survival, interact with anonymous sources. It is dangerous to go public with any information that challenges the psycopaths who are lying to us with impunity.

This is common sense for me.

Some people have the guts to go public.

Others don't.

Anyone speaking out should be respected and supported by patriots.

a reply to: DevotedResearcher

Some people have the guts to go public.

And others make stuff up , especially on the internet , "anonymity" is a good cover for making stuff up , tabloids have done it for decades.

a reply to: gortex

Oh now! This has been a possible solution talked about for a quite a while now. It comes from the attitude that your money is really not yours but simply the money a government generously allows you to keep. Since they regard it all as theirs, then it's not stealing when they simply take it back in their minds.

That's all this sort of move is - the attitude that it's not yours, but theirs.

originally posted by: ketsuko
a reply to: gortex
That's all this sort of move is - the attitude that it's not yours, but theirs.

Listening to the World Economic Forum speakers makes it blatantly evident that we're dealing with the attitude of "we're elite; we're in charge; we own science; we're gods."

According to my research the WEF are minions of the billionaires and trillionaires who are running the world behind the scenes.

originally posted by: gortex
a reply to: DevotedResearcher

Anonymous sources are notoriously unreliable and easily made up how is this doom peddler's source any different ?

Yeah, this well known.

Your deposits are now the bank's assets if they fail. You just pray that the FDIC will get around to giving you your money back if they can. (sometime, maybe)

www.investopedia.com...

Bail-ins work a little differently, providing immediate relief. Banks use money from their unsecured creditors, including depositors and bondholders, to restructure their capital to stay afloat. Put simply, they can convert their debt into equity to increase their capital requirements. Although depositors run the risk of losing some of their deposits, banks can only use deposits in excess of the $250,000 protection provided by the Federal Deposit Insurance Corporation (FDIC).

Bank Bail-Ins: The Sneaky Legislation That Puts You On The Hook for Failing Banks

www.sbcgold.com...

Congress passed laws to ensure the government would never bail out Wall Street in the future, but that doesn’t necessarily mean your money will be safe during the next financial crisis. The end of the bank bailout era ushered in the beginning of the bank bail-in, which could put not just your tax dollars at risk, but the actual money in your bank account.

How Does a Bank Bail-In Work?
A bank bail-in serves the exact same purpose as a bail out: to infuse enough money into a bank to keep it afloat. Instead of using taxpayer dollars, a bail-in allows banks to use the money of their own depositors to bail themselves out.

When you put money in a bank, you trust that institution to keep your savings secure. However, in a post Dodd-Frank world you are not simply a customer or depositor – you are actually legally classified as an “unsecured creditor.” That means anyone who carries a balance of over $250,000 could have money taken directly from their account without permission to help keep a struggling bank from going under.

Do Bank Bail-Ins Put Your Money at Risk?
The main purpose of a bank bail-in is to transfer the risk away from taxpayers while giving banks a loophole to keep themselves afloat. Banks can no longer turn to taxpayer-funded bailouts in the face of bankruptcy. Instead, they’ll shift the risk to creditors and their own customers.

Depending on how much of your assets are tied up in a single bank, there’s real risk that a bail-in could put your finances at risk. If the bank you’re holding money in makes bad or risky financial decisions, it could end up using your money to bail itself in, turning debt into equity on the backs of depositors.

This means your money could be serving as a potential get out of jail free card for the big banks propping up our economy.

a reply to: infolurker

The dirty truth is that the bank has often already moved your hard assets into some other venture, so if the bank has failed, then your money is gone anyhow. This is just the fancy way of writing it off.

Money is supposed to be a means of exchange of goods and services, as in a convenient way to trade with others without the inconvenience of bartering. The money is supposed to represent earned income.

The fact is banks do nothing to earn their living.

Nothing.

a reply to: gortex

This has already happened in the U.K. some years ago. Apparently anything over 75k isn’t protected and can be used by the banks for bail ins.

No wonder anyone with with money over that is investing in property and other assets that can’t be so easily got at.

a reply to: DevotedResearcher

Banks are supposed to be a way to safeguard your assets. You bank your money so that you aren't stuffing it in a mattress or burying it in the jar in your back yard.

originally posted by: DevotedResearcher

A report by Greg Reese: European Central Bank Preparing for Bail Ins & Banking Collapse

A sreenshot:


"Just like we saw in Cypress in 2013 . . . "

originally posted by: ketsuko
a reply to: DevotedResearcher

Banks are supposed to be a way to safeguard your assets. You bank your money so that you aren't stuffing it in a mattress or burying it in the jar in your back yard.

Yeah that's what they want you to think. Banks since their inception have always made money by lending out your money at interest. But I know you know that.

a reply to: ketsuko

That's true, but the problem with banks is that they loan money that they don't have, which is called "fractional reserve banking," which is not an honest way to do business.

a reply to: infolurker

From my understanding, it is true the banks can only take the excess of $250k. The reason for this is FDIC insurance would cover anything below that and they do not have enough in the coffers to cover this. From memory they only have like 1.3% of total deposits available to pay claims.

Let's pretend a bank does this. In return they will compensate you with bank shares, which will be quickly sold off because who would want to own shares of a company that just stole your money. This will spiral out of control and the bank will most likely fail losing all of the deposits. When the depositors reach out to FDIC, again, there isn't enough money to cover everything.

The best course of action right now is open up several bank accounts, preferrably credit unions, spread your money around so if one of them fails you aren't wiped out. Probably not a bad idea to have some cash in the bank of Serta as well. Nothing more than 5% though.

A better way is to have nothing to do with banks and no regard for fiat at all.

a reply to: litterbaux

a reply to: Dalamax

How can one transition to that?

I had a thread on this several weeks ago.

www.abovetopsecret.com...

a reply to: panoz77

Thanks.

Can you briefly summarize the best advice on the thread so far?

originally posted by: DevotedResearcher
a reply to: panoz77

Thanks.

Can you briefly summarize the best advice on the thread so far?

The thread I started went on for only 2 pages, quick read. Not much interest I guess, most people don't have close to enough money in the bank to have to worry about it apparently.