donderdag 14 januari 2016

Financial Crash

Over het nieuwe bail-in systeem dat ook in Europa van kracht is; 
opdat de banken straks niet omvallen, maar wij wel…




Until the control of the issue of currency and credit is restored to government and recognized as its most conspicuous and sacred responsibility, all talk of the sovereignty of Parliament and of democracy is idle and futile.
                  — Canadian Prime Minister William Lyon Mackenzie King, 1935


End of Capitalism Is Here-Ellen Brown

back cover photo 4th ed 2010 - Copy (2)By Greg Hunter’s USAWatchdog.com
Public banking expert and attorney Ellen Brown says, “Your life savings could be wiped out in a derivatives collapse.” Brown explains, “Nobody anticipated what happened in 2008, and that was a $700 billion bailout. Even if the FDIC tapped its Treasury line, that’s only $500 billion. So, certainly things could go wrong. Also, why are they rushing to put these things into place? They’re expecting something.” Brown goes on to point out, “They think they have avoided too-big-to-fail, but what they have actually done is formalize too-big-to-fail. I mean it’s the end of capitalism. There is no such thing as too-big-to-fail in a capitalistic society where you say certain corporations can’t fail. If you have to take the people’s money to prop them up, it’s no longer capitalism.”
Brown says, “Instead of treating banks like they are too-big-to-fail, treat them like public utilities. I am head of the Public Banking Institute, and what we want to do is publicly own banks. In every country, something like an average of 50% of the economy is publicly owned and 50% is privately owned. For us, the big 50% is like the military. The military is our biggest socialist engine. It seems to me we’d be better off with publicly owned banks, which is just acknowledging that money is a public utility. It’s our money and ‘We the People’ back it, and clearly we back it. We are making these banks too-big-to-fail, and we are backing these banks. They are sucking the profits out like a parasite from the economy. The profit should go back to the people. The credit should go into manufacturing jobs. Manufacturing is disappearing because the banks make more money on derivatives than by making loans to small and medium size businesses, which is where manufacturing comes from and where jobs come from.”
Brown warns that people are more at risk in the U.S. to lose their savings because the five biggest banks have nearly $250 trillion in derivatives. In a financial calamity that could cause mass bankruptcies, recent legislation says the derivative holders will be paid first. Brown explains, “The have super priority over everything. . . . All the creditors’ money will be taken in a bail-in. A bail-in is the opposite of a bankruptcy. In a bankruptcy, the bank is liquidated in order to pay off the creditors. In a bail-in, the creditors’ money is taken in order to keep the bank alive. So, we get to die while the bank lives instead of the reverse. They specifically say ‘creditors’ which means shareholders and bond holders, but what most people don’t realize is depositors are also considered creditors. When you put your money in a bank, it becomes the property of the bank, and all you have is an IOU.”
Join Greg Hunter as he goes One-on-One with Ellen Brown of EllenBrown.com.
(There is much more in the video interview.)
After the Interview:
Ellen Brown’s website is also known as the Web of Debt Blog. Brown writes articles there on a regular basis, and it is free to the public. Brown has also written a dozen books. Her latest is titled “The Public Bank Solution.” To buy any of Browns books, click here and scroll down to where it says “A complete list of books by Ellen Brown.”
 Great Minds: Ellen Brown - Did You Know
 Banks Can Take Your Money in A Crisis?
When the next financial crisis comes - the big banks could save themselves by stealing right out of your checking account. Banking expert Ellen Brown, Public Banking Institute/Web of Debt/The Public Bank Solution will explain how in tonight's Conversations with Great Minds. 
For more information on the stories we've covered visit our websites at thomhartmann.com - freespeech.org - and RT.com. You can also watch tonight's show on Hulu - at Hulu.com/THE BIG PICTURE and over at The Big Picture YouTube page. And - be sure to check us out on Facebook and Twitter!

Comments

manifesto2000's picture
manifesto2000  1 day 14 hours ago
This kind of predatory policy was written about by Dr. Charles McVety President of the Canada Christian College in 2013 in the "Canadian Times" http://www.canadiantimes.ca/ct2/index.php/columnists/543-conservative-bu...
Then in November of 2014, the same horrendous and theft oriented policy was adopted at the G20 in Brisbane.
- See more at: http://www.thomhartmann.com/bigpicture/great-minds-ellen-brown-did-you-know-banks-can-take-your-money-crisis#sthash.4oIEUWPK.dpuf

“Bail-ins Begin”: Interviews with Greg Hunter and Thom Hartmann

My Dec. 29th article “Bail-ins Begin” prompted two video interviews, with Greg Hunter on USAWatchdog.com, and Thom Hartmann, below.

Geen opmerkingen:

Peter Flik en Chuck Berry-Promised Land

mijn unieke collega Peter Flik, die de vrijzinnig protestantse radio omroep de VPRO maakte is niet meer. ik koester duizenden herinneringen ...