Savings Confiscation Regulation is Now the Global Trend Remember back in March 2013 when Cyprus got its banking system raped and pillaged by the Troika (EC, ECB & IMF), I said that bail-ins (savings confiscation) would be the template set by the international elitist oligarchs to protect their wealth? Many were incredulous that the action on such a little country would be the exception that makes the rule. Six months later, please note here are the countries promoting and enacting laws to confiscate your savings (seriously!): [ ] Poland [ ] Iceland [ ] All of Europe [anyone with over €100,000 in a savings accounts in Europe is at tremendous risk since all of it could be confiscated under proposed rules] [ ] Italy – Monte dei Paschii, the oldest bank in Italy (so why not your modern bank?) [ ] New Zealand [ ] Canada zerohedge/news/2013-09-26/cyprus-style-wealth-confiscation-starting-all-over-world Is it any surprise that in the last 2 weeks, 3 major banks have announced multiple-country closures: [ ] Societe Generale said to explore sale of Asia private bank -reuters/article/2013/09/12/us-socgen-asia-idUSBRE98B03520... [ ] Credit Suisse - Report - C Suisse to pull back from up to 50 countries to make savings hereisthecity/2013/09/24/credit-suisse-to-withdraw-from-up-to... [ ] Barclays shutting wealth management services in 130 countries reuters/article/2013/09/26/us-barclays-wealth-idUSBRE98O1... Upshot: if you are going to retire with over 100s of 1000s in a bank, think again. The regulators have an eye on reducing those zeros.
Posted on: Fri, 27 Sep 2013 08:22:18 +0000
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