Categories





The Phaserl








TheLibertyMill


January 1, 2016: The New Bank Bail-In System Goes Into Effect In Europe

by Michael Snyder, The Economic Collapse Blog:

If you have a bank account anywhere in Europe, you need to read this article. On January 1st, 2016, a new bail-in system will go into effect for all European banks. This new system is based on the Cyprus bank bail-ins that we witnessed a few years ago. If you will remember, money was grabbed from anyone that had more than 100,000 euros in their bank accounts in order to bail out the banks. Now the exact same principles that were used in Cyprus are going to apply to all of Europe. And with the entire global financial system teetering on the brink of chaos, that is not good news for those that have large amounts of money stashed in shaky European banks.

Below, I have shared part of an announcement about this new bail-in system that comes directly fromĀ the official website of the European Parliament.Ā  I want you to notice that they explicitly say that ā€œunsecured depositors would be affected lastā€.Ā  What they really mean is that any time a bank in Europe fails, they are going to come after private bank accounts once the shareholders and bond holders have been wiped out.Ā  So if you have more than 100,000 euros in a European bank right now, you are potentially on the hook when that bank goes underā€¦

The directiveĀ establishes a bail-in systemĀ 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.Ā 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.Ā Unsecured depositors (over ā‚¬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.

And as we have seen in the past, these rules can change overnight in the midst of a major crisis.

Read More @ TheEconomicCollapseBlog.com

Help us spread the ANTIDOTE to corporate propaganda.

Please follow SGT Report on Twitter & help share the message.

1 comment to January 1, 2016: The New Bank Bail-In System Goes Into Effect In Europe

  • newfynew777

    PROBLEM: banks haven’t enough liquidity to give customers ANY interest parked in bank,so the banks MUST CHARGE CUSTOMERS TO KEEP THEIR FUNDS IN THEIR ROTHSCHILD CENTRAL BANKS and implementing negative interest rates is just that..
    REACTION:obviously everyone in Europe will immediately[if not sooner] withdraw any funds still in European banks when they create the bail-in nonsense..it’s dreadful and doesn’t work because NOW the European banks have no liquidity at all![and begin to go bust left and right]
    SOLUTION:A CASHLESS EUROPEAN MONEY SYSTEM,CREATED AND TOTALLY CONTROLLED BY ZIONIST BANKSTERS currency made from thin air and put on a plastic card..a debit card if you will[but soon all your personal info will be on that card and then it will be transferred to the 666 beast system microchip implanted in your wrist and/or forehead[Indians will most luikely do the 666 beast forehead microchip implantation..
    all part and parcel of a/the new world order,one world CASHLESS and DIGITAL monetary system,to be intertwined with a soon to be totally CASHLESS U.S. monetary system,to be intertwined with a CASHLESS one WORLD,new world order[hell on earth] monetary system to be intertwined into and with the Zionist’s overall satanic NEW WORLD ORDER HELL ON EARTH..

    obviously using the Hegelian Dialectic yet again to bring the NWO into full and total implementation..but but but..there are still problems that must be resolved first,before any finishing touches are put on the Rothschild banksters NWO hell on earth..

    the Zionists still haven’y got American’s firearms.. yet..this was the Barry the Mideast Obomber’s numero uno job,and precisely why Barry the Obomber was chosen by the Zionists as a 2 term POTUS..if the Obomber fails to get American’s guns,he may very well be taken to Dealy Plaza and JFK’d,and certainly will not get a 3rd tewrm..Hillary will be tasked with getting Americans firearms come Hell or high water.. hmmm..this not getting the guns out of Americans hands throws quite a monkey wrench into the Elders of Zion bankster’s plan[s],for a new world order,one world digital CASHLESS currency,one world religion,and their God the Anti-Christ to rule the world from his throne in Tel Aviv,Jerusalem,or possibly even Brussels..
    so does the Russian’s S-400 military defense system,a incredibly advanced military defense system[600 kilometer max. range] and offensive system as well[400 kilometer max. range] that can virtually shut down ANYTHING the U.S.[or Israel or any other NATO member] has in military hardware..an incredible weapon indeed,and why Kerry went into the meeting with Putin saying “Assad must go”and coming out of the meeting saying “Assad can stay”

    but of course the U.S./Pentagon immediately re-nigging on the Putin deal when Kerry got back to Washington..!

    :make one think of verwee wall known Chinese pwoberb:
    “may you live in interesting times”
    and man are we.. in spades..

Leave a Reply

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>