Canada Includes Depositor Haircut Bail-In Provision For Systemically Important Banks in 2013 Budget!

FYI: Jeroen Dijsselbloem is the Dutch Finance Minister,  president of the Euro Group and president of the Board of Governors of the European Stability Mechanism (ESM).  He has been a central figure in the financial rape of Cyprus citizens.

Jeroen Dijsselbloem (“Diesel-BOOM”, “D-Boom”,  “Diesel” or “DieselBOOM”).

The Cyprus bail-in theft was the globalists giving Notice of Intent to the rest of the world, that nobody was safe.

Jim Willie says that the banking system should serve trade, not the reverse. The reverse is what we have, though.

Central banks are a plague on society, with evil at their roots.  The globalists are well versed in financial and economic principles.  They know precisely what they are doing.  They know precisely the cause and effect of their actions.  That is why we are where we are, today.

John Maynard Keynes (1883-1946) British economist, said:

By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.

To more fully complete that thought for current events, the globalists use government as a tool to do their bidding, which is to confiscate the wealth of former citizens now subjects.  The cash flows from subjects to government through the central banks to the globalists.

That is only part of the equation, though.  The other part is the privatizing profits and socializing losses.  In other words, the globalists get to keep all of the profits and the tax paying subjects get to bear the losses.

Further, the globalists’ policies lead government to ‘borrow’, so that they profit from the financial side of government as well as from the government’s purchasing of goods and services from companies that are owned by the globalists.  Of course, there is the ever present and blatant fraud that has existed since before the planning even started, to establish the central banks.

But, that is not enough, so the globalists’ policies lead government to ‘borrow’ at a parabolic rate.  Now, the globalists profit enormously, from fraud, financial deceptions and corporate profits.

The globalists welfare class is the smallest population of welfare recipients, in the world.   Yet, they are the largest segment of welfare recipients that ever existed, in financial terms.

It takes no genius to know that the wrong road will take you where you don’t want to go. We have arrived. We are there.

Where? We are on an unavoidable slide into the Third World.
How will you fare in the Third World?

And, in other news from Zero Hedge:

ECB Backs Dijsselbloem’s Liquidation Policy “Template”

The Canadian Government Offers “Bail-In” Regime,
Prepares For The Confiscation Of Bank Deposits To Bail Out Banks

                 

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Canada Includes Depositor Haircut Bail-In Provision
For Systemically Important Banks in 2013 Budget!

By The Doc
March 28, 2013
http://www.silverdoctors.com
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Just as DieselBOOM (sic) accidentally admitted Monday, it appears that the Cypriot bail-in is anything but a one-off event, and is in fact the new collapse template for the entire Western banking system, and not just the ECB/ Eurozone!

SD has been alerted to an alarming provision that has been buried deep inside the official 2013 Canadian Budget that will result in depositor haircut bail-ins jumping to this side of the pond during the next bank crisis!

Titled ECONOMIC ACTION PLAN 2013 and tabled in the House of Commons by Minster of Finance James Flaherty on March 21st, the official 2013 Canadian budget contains an explicit provision that Canada will pursue the bail-in model for systemically important banks for future bank failures!

Depositor haircuts have just jumped to this side of the pond, effective the next bank crisis/ failure:

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Please click the link to see the complete article.
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About ace5ace

60, roaming the Ozarks.
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