Bail ins are coming.
All major banks are technically insolvent as they have exposure to derivatives and Credit default swaps than actual assets- if they were normal businesses they would be allowed or forced to fold.
All taxpayers are still technically on the hook, previously a government would foot the bill and pass on the cost, now it’s depositors actual money at risk, money which in law is a credit to the bank, not legally owned by the depositor- the account holder.
Many derivatives contracts are linked to oil prices or interest rates and as the worldwide economy is tanking, and there is plenty of evidence for this, these contracts will take down some big players. JPMorgan, citi, BoA, Deutsch bank, and many others use off book accounting to hide their actual liabilities and the whole cabal is fraudulent on an unbelievable scale.
The global monetary system was designed by bankers for bankers and they get a cut at every step in the process.
They are given the privilege of creating money out of thin air (fractional reserve banking), which they can then lend out and charge interest on.
There is only one task they have to carry out and that is to lend the money prudently to people that can pay them back plus the interest.
If depositors money is at risk, people won’t make deposits, and there will be another banking crisis. The bank relies on deposits for lending.
Originally, bank owners had to cover losses with their own money, This ‘solution’ is nothing like that. It is still shifting risk onto private individuals who have no control over the bank’s policy.
The Euro-zone simply isn’t working. But the Elites of Brussels and Frankfurt will continue to protect their vested interests at the expense of the ordinary workers and taxpayers of the EU.
When confidence in the system falls, it will collapse and trillions in wealth will be confiscated.
|Juno for your news|
|You cannot trust the mainstream media|