BANK OF ENGLAND GOVERNOR DEMANDS G-20 SUMMIT IMPOSE BAIL-IN THIEVERY ACROSS THE BOARD Bank of England chairman Mark Carney, “speaking in his capacity as chairman of the Financial Stability Board (FSB), the global fi nancial regulator”, on Aug. 31 demanded that all countries implement the banking rules the top central banks have decided on, including unrestricted bail-in. Carney praised the UK, U.S., Netherlands, Germany, Switzerland, France, Japan, and Australia as the countries which have already abandoned sovereign bank regulations for the imperial ones. (Switzerland has published the most bluntly revealing outline of what they will do to bank depositors.) “Jurisdictions need to implement fully the internationally agreed policies,” Carney demanded, “through additional legislation and regulation; cross border co-operation agreements must be struck, and policies for gone-concern loss absorbing capacity should be developed.” [Not a misprint: “gone-concern” capital means Tier 2, or unsecured creditors’ capital, as opposed to stockholders’ equity and earnings; so, this means bail-in.] This was clearly aimed at the G20 meeting. Carney also said the threat of another general bank panic will persist through the end of 2014
Posted on: Mon, 16 Sep 2013 05:39:33 +0000
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