In 2012-13 Cyprus a Greek Island in the Mediterranean which is just of the coast of Syria and Lebanon were subjected to a Modern day wealth confiscation called “Bail in” ( instead of Bailout)
It is now clear that bank depositors will lose their hard earned money above 100,000 Euros and they will lose 6.7% of funds under 100,000 Euros.
These were the demands of the EU to secure a 10billion Euro capital injection over the next few years.
Its now happening around the world!
Laws are now being put in place in other countries around the world like EU, Poland, Iceland, Italy, USA, UK, Canada and New Zealand and it seems soon to come to Australia! (All part of the G20!)
It seems that governments all the around the world are getting ready for a major financial problem which will mean that our savings deposited in the banks will be taken lawfully by our elected governments to stabilize the global banking system!
Just this Month October 2013 the International Monetary Fund has called for a 10% Levy on ALL European household saving accounts!
See the IMF report here – go to page 48!
Here is a CNN MONEY news report on the plan – Europe bank rescue plan would hit investors
Poland has just announced that it is confiscating the funds held within Private Pension funds- check out this story at: reuters.com
The Australian Government has recently confiscated ALL private bank account funds that have not been operated on for over 3 years and announced it will raise the Australian Govt debt ceiling to $500 billion!
Barnaby Joyce Blog site “Australian government planning to steal your money to “bail-in” so-called “systemically-important financial institutions” (SIFI’s) — under the orders of an unelected international body (of bankers and bureaucrats) you’ve never heard of; a body funded by the Bank for International Settlements (BIS), and chaired consecutively by Goldman Sachs alumni”
Barnaby Joyce barnabyisright.com “G20-governments-all-agreed-to-cyprus-style-theft-of-bank-deposits-in-2010″
investmentwatchblog.com Cyprus-Style Wealth Confiscation Is Now Happening All Over The Globe- September 24th, 2013
wikipedia.org – Cypriot financial crisis
globalresearch.ca The Bank Confiscation Scheme for US and UK Depositors
Letter found on the internet addressed to Department of Treasury from Australian Financial Markets Assoc.
General Manager – Mr Lonsdale
Financial System Division
PARKES ACT 2600
Extract “However, APRA, as the resolution authority, should have the power to enact a bail – in for banks incorporated in Australia during a resolution.”
Policy & International Affairs
Australian Financial Markets Association
APRA is the prudential regulator of banks, insurance companies and superannuation funds, credit unions, building societies and friendly societies.