Is FDIC planning to eliminate insured deposits with this plan?
The next assault to White CITIZENS= their bank deposits? Will YOU the depositor bail out the banks in the future?(you`re safe deposit boxes willprobably be seized also).
I read these excerpts at washington blog. This is a real plan written by the F #$%$? PREPARE.
"Although few depositors realize it, legally the bank owns the depositor’s funds as soon as they are put in the bank. Our money becomes the bank’s, and we become unsecured creditors holding IOUs or promises to pay. But until now the bank has been obligated to pay the money back on demand in the form of cash. Under the FDIC-BOE plan, our IOUs will be converted into “bank equity.” The bank will get the money and we will get stock in the bank. With any luck we may be able to sell the stock to someone else, but when and at what price?.
The 15-page FDIC-BOE document is called “Resolving Globally Active, Systemically Important, Financial Institutions.” It begins by explaining that the 2008 banking crisis has made it clear that some other way besides taxpayer bailouts is needed to maintain “financial stability.” Evidently anticipating that the next financial collapse will be on a grander scale than either the taxpayers or Congress is willing to underwrite, the authors state:
An efficient path for returning the sound operations of the G-SIFI to the private sector would be provided by exchanging or converting a sufficient amount of the unsecured debt from the original creditors of the failed company [meaning the depositors] into equity [or stock]. In the U.S., the new equity would become capital in one or more newly formed operating entities. In the U.K., the same approach could be used, or the equity could be used to recapitalize the failing financial company itself—thus, the highest layer of surviving bailed-in creditors would become the owners of the resolved firm. In either country, the new equity holders would take on the corresponding risk of being shareholders in a financial institution
Buy a big safe, get a home alarm system (monitored) and put your money in the safe. It's more safe there than in a bank! It doesn't earn any interest anyway, so why put it out of your hands and into someone elses. The chances of you getting robbed of it are less than the banksters robbing you of it. Plus in the Obamacare manual the government has full access to your bank account. Nothing nobody wants.
Maybe where you live putting money in a safe with a home alarm system works. Armed robbers rule the streets in Florida cities, and for that matter probably most major U.S. cities. Armed to kill robbers really do not care about cameras and monitored alarm systems. They cover their faces and wear hoodies, and are in and out before police arrive. Also, many U.S. regions are cutting back on police due to limited budgets, with slower police response, if any at all.
Years ago, before the budget woes, when I lived in St Paul MN the back window of my brand new car was knocked out. I called the police to report it, and they honestly were not at all interested. I can only imagine what type of response you would get there today if your cash filled safe was stolen. Heck, at that time in St Paul, cars were being loaded on truck beds in plain sight and stolen. Oh how I hate Minnesota. In comparison, Florida is a paradise, that`s how much I hate it.