Topics: 0:00 Time for ratings agencies to pay the piper 11:00 Hungry Joe's whoppers must end! 'Bail-In' an open secret Fast forward to 11:00 for the bail in stuff [youtube]http://www.youtube.com/watch?v=uJgRlLWxFyc[/youtube]
The answer is at 20:34... The amount in the guarantee fund isn't enough to cover the amount of deposits
lol ya can't do that that would be to help the people. :lol: Money can only be printed for the pockets of government cronies, ya know to pay bribes and stuff
Actually it has been obvious from Day.1. that any Deposit Guarantee was a fairy story. The Government is BROKE and drowning in red ink. If the thing ever comes to pass they will have NO choice, they MUST print it! OC
That $1.5 Trillion is super will take a hell of a knock when SHTF Day dawns, as will the Future Fund! Not sure the Government can do all that much about it. OC
OC is right, there's no need to give depositors a 'haircut' when you can print your own money. Cyprus couldn't print because they are on the Euro. The politicians will always choose to churn out notes and debase rather than be seen taking money directly from voter's bank accounts.
So I guess the $360mil they grabbed/stole over the past 12 months from bank accounts that were dormant for 3 years aren't voters.
They can bail in all they like it won't affect my bank balance much. They can't take it if there's nothing there.
Fair point. That policy is an awful. Thankfully there's a fair chance that period will be extended now that it has come to light. Also, you can claim that money back from ASIC. What they did in Cyprus was a step up by an order of magnitude.
When will Joe get this bank in through the parliament and into law. Will the red team support the blue team to do this? Will the MSM report to the Australian people, the truth about the bank in? Will anyone here on SS gamble and leave their savings in the banks? Derivatives are a lot bigger than they were in 2007/8...How much are the Super Funds exposed to derivatives in order to get a great return? Maybe if OC is right and the government print $$$ to stop the demonstrations in the streets,then massive inflation will be the order of the day. Protecting your savings by having gold and silver might be a salvation for all here who stack silver for this reason. At the G20 also the TPP will be brought in by the Ringmasters and hailed as a free trade agreement to benefit us all. Now is the time for both the red and blue supporters here on SS TO UNITE to fight these bad laws that are being fostered upon us by Governments both left and right. The Question is when will this bank in occur.. What year? Regards Errol 43
as the vid says at 13:40 AFAIK The legislation is already drawn up as per my first post about bail-ins months ago, where i showed screenshots of the draft documents, but hasn't been passed into law yet...but Must be ready to go by the deadline of the G20 in november in Brisbane. So any time from then I suppose - there is no exact date. They will sneak it through as something else, wording etc, the wording they will use is what Glen Stevens is quoted as saying in the vid at 14:08 To much to write here lol - I've put the timestamps
This is Vimeo but it's a good overview. Jim Sinclair. From 8 minutes onward. http://www.silverdoctors.com/jim-si...-is-coming-is-it-time-to-bank-with-the-brics/
