WEALTH CONFISCATION IS NOW HAPPENING ALL OVER THE GLOBE

 

 

Now that "bail-ins" have become accepted practice all over the planet, no bank account and no pension fund will ever be 100% safe again.  In fact, Cyprus-style wealth confiscation is already starting to happen all around the world. 

 

As you will read about below, private pension funds were just raided by the government in Poland, and a "bail-in" is being organized for one of the largest banks in Italy.  Unfortunately, this is just the beginning. 

 

The precedent that was set in Cyprus is being used as a template for establishing bail-in procedures in New Zealand, Canada and all over Europe.  It is only a matter of time before we see this exact same type of thing happen in the United States as well.

 

From now on, anyone that keeps a large amount of money in any single bank account or retirement fund is being incredibly foolish.

 

Some Examples

 

POLAND said  it will transfer to the state many of the assets held by private pension funds, slashing public debt but putting in doubt the future of the multi-billion-euro funds, many of them foreign-owned.

 

Iceland  finance minister is proposing to restrict bank guarantee to only deposits less-than-EUR100,000.

 

European Union finance ministers approved a plan for dealing with future bank bailouts, forcing bondholders and shareholders to take the hit for bank rescues ahead of taxpayers.

 

Italy - Monte Paschi, Italy's oldest and according to many, most insolvent bank, quietly commenced a bondholder "bail in" after it said that it suspended interest payments on three hybrid notes following demands by European authorities that bondholders contribute to the restructuring of the bailed out Italian lender.

 

New Zealand - The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts, the Green Party said today.

 

Canada - The new budget proposes "to implement a 'bail-in' regime for systemically important banks" in Canada. 

Read more - http://theeconomiccollapseblog.com/archives/cyprus-style-wealth-confiscation-is-now-happening-all-over-the-globe


RELATED

US BANKS HAVE POWER TO CONFISCATE YOUR MONEY TO SAVE THEMSELVES
http://ottersandsciencenews.blogspot.ca/2013/10/us-banks-have-power-to-confiscate-your.html


*****************************************************************************