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Cyprus-like Bail-In Provision Buried in Dodd-Frank - Silver Doctors article back up!

The resolution states that while the US would prefer large financial institutions be resolved through ordinary bankruptcy, depositor wealth confiscation will be pursued in the case of a systemically important institution (i.e. BOA, JPMorgan, Goldman Sachs, etc):

As demonstrated by the Title I requirement of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank Act), the U.S. would prefer that large financial organizations be resolvable through ordinary bankruptcy. However, the U.S. bankruptcy process may not be able to handle the failure of a systemic financial institution without significant disruption to the financial system.

http://silverdoctors.com/fdic-bank-of-england-create-resolut...

Link to FDIC & Bank of England Joint Bail-In Provision (Dec 2012): http://www.fdic.gov/about/srac/2012/gsifi.pdf



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To be frank,

if you still have your $$$ in a tbtf bank come next banking crisis, you deserve to have your money confiscated. One should do their due-diligence and look into the affairs of the bank in which they store their $.

#2harsh?

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James

according to Ann Barnhardt, not nearly harsh enough-

Ann Barnhardt: "If You’re Still in These Markets You’re Either Stupid or On Drugs!" http://www.youtube.com/watch?v=JZMuOrpHn54&feature=player_em...

"If you want something you've never had before, you have to do something you've never done before." Debra Medina

Stealth withdrawals

Remember the cash withdrawal reporting threshold is $10,000 per business day under the Bank Secrecy Act.

https://en.wikipedia.org/wiki/Bank_Secrecy_Act

No need to trigger a criminal investigation for withdrawing your own money.

The way they have it set up

it appears, that if you remove under $10k multiple times, the bank looks at it as a single transaction, and reports it anyway.

“When a well-packaged web of lies has been sold gradually to the masses over generations, the truth will seem utterly preposterous and its speaker a raving lunatic.” – Dresden James

SteveMT's picture

Multinational Bills with the same bail-in language included.

This is the evidence that again proves conspiracy theories correct. Alternatively, a group of legislative bill writers are being outsourced on eBay.

Laugh at her if you want, but Michele Bachman warned us about

this. She was the only one talking about this in the primary debates.

DHS

This should provide some clarity as to why the DHS is stocking up on ammo.

peace + liberty = prosperity

Important

Bump

~ Engage in the war of attrition: http://pacalliance.us/redamendment/

bigmikedude's picture

Bump

Bump