Government Seizure of personal funds tied to Global Financial Crisis?

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May 5, 2016 No Comments ›› admin

By Sid Frasier

The term “Bail In” allows failing banks to seize your money.

So much for federally ensured savings accounts! Once again your trusted elected officials are more focused on preserving their monetary ineptness than protecting the people. bank bail in

Essentially, what currently happens in many European countries is that wealth is transferred from the “stakeholders” (you) in the bank to the bank itself in order to keep it solvent.

That means that creditors and shareholders could potentially lose everything if a major bank in Europe fails.

And if their “contributions” are not enough to save the bank, those holding private bank accounts will have to take “drastic action” just like we saw in Cyprus meltdown. In fact, the travesty that we witnessed in Cyprus is being used as a “template” for much of the new legislation that is being enacted all over Europe.

Most Americans assume that when they put money in the bank that they have a right to go back and get “their money” whenever they want. But if we all went to the bank at the same time, there wouldn’t be nearly enough money for all of us. The reason for this is that the banks only keep a small fraction of our money on hand to satisfy the demands of those that conduct withdrawals on a day-to-day basis.

The banks take the rest of the money that we have deposited and use it however they think is best… what a sweetheart deal for the mis-managers who face no consequences. In fact, they most likely will personally enrich themselves and their cronies at depositor expense!

This is why we previously controlled organizations that grew “too big the fail” and also destroyed their competition using a tactic known as monopolizing the market. This is also like to government entities brokering the sale of tracts of land for prices ten times their value which is paid for with taxpayer funds. The deal here allows political and financial heavyweights to be involved in these shady transactions… the unsuspecting taxpayer never realizes they have been swindled.

Back to the topic of Bail-Ins; here are the facts.

Let’s say you have money at a bank that goes under, that bank will still be obligated to pay you back, but it may not be able to do so. This is where the FDIC comes in. The FDIC supposedly guarantees the safety of deposits in member banks, but at any given time it only has a very, very small amount of money on hand.

If some unforeseen crisis comes along that causes banks all over the United States to start falling like dominoes, this would put the FDIC in panic mode. During such a condition, the FDIC would be forced to ask Congress for a massive amount of money, and since we already run a giant deficit every year the government would have to borrow whatever funds would be required… if it could find a lender! The bail-in as opposed to the bail-out doesn’t protect you… it protects the government!

It’s very interesting that we have seen major financial rule changes in Europe and at the Federal Reserve just as we are entering a new global financial crisis. They likely know something that the rest of us do not? The Federal Reserve is another one of those manipulative entities controlled by the rich and powerful without any constitutional basis.

Therefore please be very careful with your money, because “bank bail-ins” will soon be making front-page headlines all over the world as government debt continues to grow.

It isn’t a matter of if, but a matter of when based on current trends. Read more about the subject, as you certainly won’t hear about it from the people that are plotting to cash in at your expense!

Sid Frasier is President of Electronic Assistance Corporation.

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