20 January 2016
Legal Plunder Navy Style
When you put money into a bank account, they own it. This is why you sign to withdraw your cash at the counter. You are only allowed a set amount to draw each day from the cash machines.
What if I said we have a monster waiting in the wings with the intent of relieving the middle class of their savings, that is of course if there are savings left after the drive to re-mortgage the assets of a generation, if I was to suggest such a thing would you be concerned? If I said we had a monster made up of central bank directed legislation that will allow the elite to Legally Freeze and then Seize, bank assets during the next crisis, would this grab your attention?
Your account is classed as an ‘unsecured creditor,’ or in truth, ‘your Trust‘ is so classed.
The bank bail out was a direct hit against your Trust’ via its legal tie to the government, they are shifting the goal posts so they can secure a direct hit against your Trust via the bank account, while claiming they are saving the taxpayer from this plunder. The Trust is the account holder and also the taxpayer, therefore you the real person gets hit by both methods via the Trust.
Insurance they claim will protect your cash unto £100.000, but if you believe this you can say goodbye to your savings and hello to some worthless low yielding bond scheme. Remember in the Cyprus bail-in early 2013, the beta test for this plunder, they actually took 83% from every bank account.
June 25, 2012: Cyprus formally requests a bailout from the EU.
· November 24, 2012: Cyprus announces it has reached an agreement with the EU the bailout process once Cyprus banks are examined by EU officials (ballpark estimate of capital needed is €17.5 billion).
· February 25, 2013: Democratic Rally candidate Nicos Anastasiades wins Cypriot election defeating his opponent, an anti-austerity Communist.
· March 16 2013: Cyprus announces the terms of its bail-in: a 6.75% confiscation of accounts under €100,000 and 9.9% for accounts larger than €100,000… a bank holiday is announced.
· March 17 2013: emergency session of Parliament to vote on bailout/bail-in is postponed.
· March 18 2013: Bank holiday extended until March 21 2013.
· March 19 2013: Cyprus parliament rejects bail-in bill.
· March 20 2013: Bank holiday extended until March 26 2013.
· March 24 2013: Cash limits of €100 in withdrawals begin for largest banks in Cyprus.
· March 25 2013: Bail-in deal agreed upon. Those depositors with over €100,000 were told they would either lose 40% of their money (Bank of Cyprus) or lose 60% (Laiki).
In the UK this system shows itself in the G-SIFI total corporate dictatorship directed by the Bank of England
The term ‘of’ when transferred to the legalese can mean ‘without,’ giving us the title, Bank ‘without’ England.
According to the European Parliament website :
Parliament and Council Presidency negotiators reached a political agreement Wednesday on the draft bank recovery and resolution directive, the first step towards setting up an EU system to deal with struggling banks. This directive will introduce the bail-in principle by January 2016, thereby ensuring that taxpayers will not be first in line to pay for bank failures.
The directive is to enter into force on 1 January 2015 and the bail-in system is to take effect on 1 January 2016.
Welcoming the deal, Gunnar Hokmark (EPP, SE), the MEP who steered the legislation through Parliament, said “We now have a strong bail-in system which sends a clear message that bank shareholders and creditors will be the ones to bear the losses on rainy days, not taxpayers. At the same time we also established clear rules to deal with the most exceptional cases, in which overall financial stability is in danger.”
[The Trust gets hit twice, they use deception] my emphasis.
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 stabilise the bank. Smaller depositors would in any case be explicitly excluded from any bail-in.
[This is not what happened in the 2013 beta test in Cyprus, they took 83% from every single bank account registered to the Island banking system.]
To improve a struggling bank’s recovery prospects and foster general economic stability, bail-ins would apply at least until 8% of its total assets have been lost. In most cases, this would mean shareholders and many bondholders would be wiped out. Above this threshold, the resolution authority may allow the bank to access resolution fund money up to a maximum of 5% of the bank’s assets.
[Deception again, 5% of the banks assets could add up to 90% of the total unsecured creditor figure.]
A member state could lodge a request with the Commission to exempt certain creditors from bail-in on an exceptional and case by case basis. The Commission would have the right to object. Moreover such exemptions would still mean that the bank would need to find 8% of its assets to bail-in before it could hope to tap other funds.
[The banks control the European Commission through some 6000 lobby groups operating for the World Bank Group, ergo the banks will adjudicate on all decisions, the winner……? The banks.]
National resolution funds
For each EU member state, a fund will be established which will come to the aid of banks in order to help them recover or to wind them down. The funds would be built up through bank contributions and by 2025 should reach the level of 1% of the covered deposits of the banks in that country.
Using public money
The directive acknowledges that, in exceptional circumstances, it may be necessary and indeed beneficial to bring in public money, notably in the form of bank recapitalisations. However the scope for such interventions is tightly framed.
So called government stabilisation tools,” allowing public intervention, would be possible in exceptional cases, and only after 8% of the bank’s assets have been bailed-in. A public precautionary recapitalisation would be possibly only as a last resort.
Within 6 months of the directive’s entry into force, the European Banking Authority will moreover issue guidelines on the circumstances in which precautionary recapitalisation could be undertaken. Finally, by 2018, the European Commission will undertake a review to see whether use of this recapitalisation tool should continue to be permitted.
Under such despicable legal auspices….level your bank accounts by spreading it around or putting it into something physical, or why don’t we start a new bank and don’t register in any way with the existing banking cabal?
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