GLOBAL LOOTING: The new EU bailin law was passed 8 days ago….did you notice?

Revealed: official details on how the EU will steal from us

lobsAre you a citizen with rights, or just a helpless crustacean?

Three beaming eurocrats – Barroso, Van Rompuy and Lithuanian Dalia Grybauskaite – emerged triumphant from a session two days ago, in which they mapped out the biggest bank heist in world history. This is to put flesh on the eurozone law hastily passed on August 1st (while EU citizens were on holiday) to deal with the inevitability event of a bank collapse. Under this draft proposal – which many expect to be applied to the entire EU – no depositor big or small will in future be able to feel safe with money deposited in a bank. The Slog now calls for those who represent us, across the entire cultural spectrum of European society – to do something.

In a barely read piece a month ago, the International Business Times reported on the rapidly drafted new EU law for “overhauling its policy on how banks receive bumper bailouts”. Be aware: this is an EU move, not a eurozone move: it is already law (it passed on August 1st) and although for now it applies only to the eurozone, it is an EU law. Hardly anyone has commented on this, but the approach being taken matches word for word the 3-card trick George Osborne used six weeks ago when he said:

“In future, taxpayers will not be called upon to bail banks out. It will be down to the creditors and the owners”.

The most remarkable example of double-speak to date, at the time I pointed out that creditors are taxpayers (they’re account holders, simple as that) and so as the Establishments daren’t ask us for higher taxes to bail out their mates in the banking system, they will take it via, if you like, Direct Debit. It is exactly the same principle of stealing the Troika wishes to apply to Greek private pension funds.

The initial piece at the IBT website noted that ‘Eurozone leaders agreed upon the major policy shift and also confirmed that the new rules will help protect the taxpayer and move the burden of bailing out the banks onto shareholders and junior debt holders.” Again, more bollocks: how will ripping your money out protect you? And note – junior debt holders…aka, you and I.

3monkropBut yesterday from the German site Deutsche Wirtschafts Nachrichten (German Economic News) came a piece reporting that all bets are off as far as the ‘guarantee of all funds under €100,000′ pledge is concerned. Under the current Lithuanian Presidency of Dalia Grybauskaite (seen left between a Trot and a poet), the proposal as drafted – and almost entirely ignored by the Western media – states as follows:

* Treatment will not be the same regardless of size of deposit, BUT small account holders will have to wait up to four weeks to get their money….’depending on how serious the insolvency is’. During that time, there will be a maximum withdrawal of €100-200 per day – again, perhaps less depending on the seriousness of the failure. (Based on the Cyprus experience, the haircut in the end will be at least 60%).

* The EU Parliament – allegedly – is demanding that deposits of €100,000+ euros should be confiscated within five days. (So much for MEPs offering us some kind of protection from the Sprouts).

* In the event of a banking collapse, all previous government commitments are null and void.  The force majeur of “exceptional circumstances” can lead to ways round such pledges. Part of the new plan suggests savers could also be subject to a ‘penalty tax’ if they have less than € 100,000 in the bank. (So much for Merkel’s promise to the German people).

George Orwell could’ve dropped acid and still not come up with a scheme quite so assumptive and brazenly deranged as this one. It is based on the following insane principles:

1. Putting money in a bank makes every citizen a creditor of that bank, equally prone to confiscation in order to repay….who exactly? The answer is, other banks it owed money. So it’s not really our money after all, it’s the banking sector’s money. After it’s been taxed by the Government, despite the fact that we earned it…it’s really all bankers’ money after all. Unbelievable.

2. If we are prudent enough to keep money in smaller amounts in lots of accounts, we will have to pay a ‘penalty tax’ – well of course we will: I mean, given it’s never our money really – we’re just borrowing it, or something – then quite right too. And because it isn’t really our money, we shall be given strictly limited spending money per day. The brass neck is beyond belief.

3. If you have been seditious enough in your life to actually make quite a lot of money legally, then within five days the money that was never really yours will be taken back by its rightful owners…the bankers….or the Government rescuing the bankers but without doing it in our taxes. Why five days – why not five seconds? I mean, it’s their money: we were just earning it for safe keeping, right? Of course we were.

4. Anything is an exceptional circumstance if they say it is. Even the Nazis in 1933 had to burn down the bloody Reichstag to declare a State of Emergency. In 2013, it requires just one dumb, over-leveraged, f**kwitted bank to collapse under the weight of its CEO’s ego, and we’re all pauperised by Law.

I think the time has finally come when we must give our legislators and ‘leaders’ here in the UK a gigantic kick up the jacksy. And I think the time has come for every decent organisation to mobilise even Wayne and Waynetta to GTF off the sofa and start making it clear to the scheming Wankers of Westminster that we’re not having any of this crap here in Britain.

As I tried to point out two years ago, this is no longer a political issue. This is a case of one simple rule by which decent citizens must abide: stealing things is wrong…especially when it’s done to repair your own stupid decisions in the past.

These are the questions we should address to everyone supposed to represent us, starting today:

1. To German Sloggers, demand Angela Merkel make the safety of ALL EU citizens’ bank money a solid Election pledge next month.

2. To the Christian, Jewish, Muslim and humanist leaderships of Britain: start an outcry in the media. Why aren’t you giving your parishioners more support? Where is the outcry about pilfering from innocent citizens? Where is the condemnations of illegal, amoral confiscation?

3. To the anti-EU Conservative Right, to UKip and its leader Nigel Farage, to our MEPs – especially Dan Hannan: do you realise the delayed referendum on EU membership will come far too late to stop this? When are you going to start spelling this out to your supporters and media contacts that this is now a matter of citizen survival? Why hasn’t there been uproar in the European Parliament about this? You guys talk a good game, but where’s the line in the sand?

4. To the TUC: Your members are about to be fleeced by the Co-op’s management, and stand to be ruined by the EU’s ECB-driven policy of slashing both the wages and assets of the European workforce. Can we have less political point-scoring, and more ecumenical organising action?

5. To the Labour Party leadership: show that you truly are our friend in tough times. Stop doing bloody focus groups and poncing about between the lines of bland policy statements designed to make you look harmlessly voteworthy. Come back off your holidays and take a stand – when are you going to start hounding Camerlot bigtime on this iniquitous policy? Or are you complicit in it? Please tell us.

6. To the whingers and it-won’t-make-any-difference-it’s-nothing-to-do-with-me brigade: sorry, but you just ran out of road. Like it or not, you’re involved. Start a movement now to remove every penny of current account and deposit monies from the bank. Are you a live Homo sapiens, or a braindead lobster?

The Co-operative scandal is just the beginning. They are going to take our money and leave us all penniless….at their mercy. To combat this, we really don’t need any slogan beyond this one:

sayno

Last night at The Slog: How hype took over from hope

173 thoughts on “GLOBAL LOOTING: The new EU bailin law was passed 8 days ago….did you notice?

  1. It’s frightening, the transformation from customer to investor has happened over the past few months (okay it was always in the small print unbenknown to the ordinary man on the street).

    If a supermarket goes bust I am not expected to pay back thier debts because I shopped their once.

    Silver and gold looking better by the day.

    • Gold and Silver will be worth jack when it all goes to pieces, your best off looking at Sugar, Coffee, and Smokes, real tradeable stuff. You cant eat or drink Gold and Silver.

  2. Been saying this for nigh on two years now and nobody paid any attention, remember me sayin’ You Ain’t Seen Nothin Yet? Well, you ain’t seen nothin yet…

    • I agree, although as you already say, it has been obvious for a long time that this was inevitable. When you start a game of Jenga you know that the game ends when the tower collapses but there is a lot of gameplay inbetween, we have been in that phase for a while now, the tower is looking wobbly and it is ready to come down.
      JW’s ‘CRASH2′ section contains all the evidence you need to confirm this but I think we have underestimated the low cunning of the eunatics, they are not fools, they can see what is on the horizon as well as everyone else, they have a plan it is not a crash, but a crush – to squeeze the wealth from the populace to throw into the euro bottomless pit which also simultaneously reduces those people to compliant and dependent serfs.
      I took every last penny out of the banking system a year ago – it requires a tad more effort to drip feed cash back into the system for direct debits but like JW implies, if you aren’t part of the solution you are part of the problem.

    • Hey, kfc1404 with you all the way. We aint seen NOthin yet.

      Depressing that people are soooooooo slow. The wake up is painful to watch. But, I got no solutions.

      so Solidarity. Help your friends and family if you can. Have a beer and take a back seat. Mebbe only a short time before the cull starts in earnest. Better be “philosophical”.

  3. THE GREAT LIE OF COURSE IS THAT BANK CUSTOMERS ARE CREDITORS THEY ARE NOT, THEY ARE DEPOSITORS WITHOUT THAT ASSUMPTION THE ENTIRE BANKING SYSTEM BASED ON TRUST COLLAPSES

    • The even greater lie is that representative government still exists. We live in an era of kings and feudal lords who exercise autonomy and only occasionally tip their hats to the idea of equitable governance.

      The reality (as we are all coming to understand it), is that we are “bound to the land” like common serfs. When the “Realm” needs to raise funds, we serfs are to be fleeced, our assets frozen, our movement curtailed. There is no representative democracy here. There is only this vast flock of the deceived, still pressing buttons in voting booths like chickens pecking the feed-button long after the last kernel has dropped from the chute.

  4. There is also a Konrad Adenauer Foundation which talks vaguely about the social market but appears to be about furthering the EU as a European Superstate, involving Barroso. The whole issue of Germany and the EU is a treacherous swamp of European power politics through which it is necessary to pick one’s way carefully. Check out the Wikipedia page on the Foundation as well as the original Foundation website.

  5. Hmmm, so we have abandoned the concept that a bank was just that a place to store safely your money or other precious assets and for which service you paid a small fee. They therefore had a duty of care and moral responsibility to hold that money safe, not to allow it to be stolen, destroyed or otherwise harmed or diminished. Once upon a time it seemed a good idea, for all of society, to allow said bank to lend some of that money it held to others, who could provide security for the load, a propensity to pay or capacity to pay and had a degree of moral character, the 3 C’s of old fashioned banking.

    The flaws and risks associated with fractional lending exposed with bank collapses in the 1890′s and 1930′s resulted in government(s) introducing legislation requiring banks to set aside a goodly percentage of the money as a safeguard that they would remain liquid and to ensure that confidence in the institution remained with its customers. This system and other monetary agreements held the sytems together for a long long time, UNTIL, the thieves and charlatans who ran the pretend banks (remember them the Merchant Banks or Corporate Banks) convinced the liers and fools who they paid to elect to abandon these safeguards and rules and to let fractional lendings rip (lets call it the exponential genii out of the bottle).

    Now we are going to substitute another piece of legal fiction, customers as creditors as if they were customers of a business, which ignores the moral basis of a bank and its licensing, and pretend therefore that a Bank is just another business or person. This goes beyond Bolllocks, this is downright evil and indicative of elites and power groups both immoral, stupid and downright criminal. They have in one fell swoop destroyed the very special character of a Bank, who in their right mind would keep any asset now in paper? who in their right mind would use so called money, excepting as a form of chit or paper exchange. No wonder all the smart folks have gone long in gold, gems, metals and real estate and other easily converted and exchanged commodities, they saw and knew what was coming. The potential for illegal and black markets to exchange commodities for commodities is gob smacking and will just explode while western businesses and the banks implode, Great work guys, you’ve really done it now! This is going to be one hell of a ride.

  6. Pingback: John Ward – Global Looting : The New EU Bailin Law Was Passed 8 Days Ago.. Did You Notice? – 9 August 2013 | Lucas 2012 Infos

  7. Without savings you don’t have capital and without capital you can’t have capitalism.

    I must re-read When Money Dies and Dying of Money about the collapse of the Weimar Republic. The parallels are frightening only this time the destruction of people’s savings is global.

  8. Bankers are very efficient at capital allocation, far better than nasty governments. they have been given free money, ZIRP and the power to create money as deposits. Yet now they need confiscation because they are still totally f**king things up.

    Why not just introduce 100% inheritance tax and give it to the banks, let’s just have done with it.

  9. If the £85k guarentee no longer is seen to be there in the UK, I imagine many people will start putting their money elsewhere…Ditto EZ land…so how on earth does this help with Bank Re Capitalisation…even for the better ones ? Bank runs here we come…now what shall I spend the money on ?

    The RBS computer debacle ably demonstrated what happens when legitimate withdrawals are suspended. Direct Debits to Utilities, Council Tax or Loans for cars or Mortgage payments tend to come on one different day a month and all may well be more than one £200 chunk. So if none get paid during a Bank failure, I assume that chaos ensues? If one bank failure takes down another then I imagine that society as we know it comes to a pretty abrupt halt, let alone us worrying about how much we are being haircut.

    I do agree with the point that a 2017 EU referendum is looking far to late for the UK. Surely this is a radical enough change in EU rules for the citizens of the UK, to trigger an immediate referendum, as already agreed if such a major change in EU law came to pass? Nige should be shouting this one from the rooftops …and dear MSM…I honestly do not care if a panda might be pregnant right now !

    • Precisely, cascading bank failures would create chaos pretty quickly – they stared into that abyss already in 2008 when RBS was 3 hours away from shutdown. This is why they will engineer an orderly demolition of the system so it falls in its own footprint. Catastrophic failure is not an option for it robs the elites of control.

    • (Note that it’s the Wall Street Journal not some tinfoil hat conspiracy site)
      please be aware that the so called.tinfoil hat conspiracy sites was the ones that uncovered this first!

  10. John, this is wishful thinking I’m afraid -

    “1. To German Sloggers, demand Angela Merkel make the safety of ALL EU citizens’ bank money a solid Election pledge next month.”

    Nice, but unfortunately we must face bitter realities! As she is recorded stating on video around 2007/2008:

    “Man kann sich nicht darauf verlassen, dass das, was vor den Wahlen gesagt wird, auch wirklich nach den Wahlen gilt!“

    Angela Merkel, CDU und Bundeskanzlerin”

    Which translates neatly as:

    “You cannot reckon on that which was clearly stated before the election also being really valid after the election.”

    Angela Merkel, CDU and German Chancellor”

    Here’s the video link:

    I cannot really imagine that she and and her sidekick, the dipsomaniac Wheelchair Wolfie, are likely to have amended their views – unless faced with weighty opposition from the AfD. But even that is not a certainty!!

    Would you like another couple of quotes:

    “… because we truly have no legal right to democracy and a social market economy for all eternity …”

    Angela Merkel, CDU and German Chancellor

    Does that mean its days are already numbered?

    Howzabout this one:

    “It is the task of politicians to reinforce the sense of threat in the population”

    Angela Merkel, CDU and German Chancellor, on 03.02.2003 in the Presidium of the CDU

    • Frank Zappa quote… The illusion of freedom will continue long as its profitable to continue the illusion. At the point where illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theatre.

    • I’ve seen the future, brother:
      it is murder.

      Things are going to slide, slide in all directions
      Won’t be nothing
      Nothing you can measure anymore
      The blizzard, the blizzard of the world
      has crossed the threshold
      and it has overturned
      the order of the soul
      When they said ‘repent’! ‘repent’!
      I wonder what they meant

    • To be exact:

      “I’ve seen the future, brother: it is murder. ”

      Cohen might as well have written the present article and a goodly portion of the comments too:

      “Things are going to slide, slide in all directions
      Won’t be nothing
      Nothing you can measure anymore
      The blizzard, the blizzard of the world
      has crossed the threshold
      and it has overturned
      the order of the soul.”

      = Leonard Cohen, “The Future” =

      OUR job now, as THIS Indigenous One sees it, is to apply EVERY particle of NATURAL INSTINCT to the matter as it is unfolded by the Secret Lodge Boys and thrown down on out heads and shoulders like a common hoodwink. Also to be as peaceable as ever we are and patient too… Things are being done that this article does not factor into its conclusion. To wit:

      Once Ms. Karen Hudes – the wrongfully-fired 25-year Legal Counsel at the World Bank retakes her rightful position (right now SHE has a Lawful Court Order and THEY got a Private Security Contractor barring her entrance literally at the frckn door) things ARE gonna’ change for the better. “But HOW and WHY?” many dispirited ones will surely be asking now. “Because SHE is HONEST and has PROVED IT” is the solution to that puzzle.

      So: Someone might want to have a look at the latest from the Global Collateral Accounts Recovery Team headed by Neil Keenan and MIchael Henry Dunn. Ms. Hudes declaring herself on-board with Keenan and company, in the wake of the two greatest historic depositors of gold with the Federal(SIC!) Reserver(SIC!!) vetting Mr. Keenan 100% and thus fully accepting his own executive talents on their hereditary fortunes’ behalf is a full-scale positive endorsement by a TOP PROFESSIONAL BANKING LAWYER (who is, additionally, a WHITE PERSON fwiw) of what is being done TODAY by that Good Irishman on behalf of the Rest of Us.

      Newcomers might want to meet Ms. Hudes. So URL http://www.youtube.com/watch?v=dGCvZuzShSc provides a full, in=depth recent interview of two hours’ length (which runs like radio so it won’t tie you down. Finish the dishes and get to the sweeping while listening. PLEASE be sure to listen, is all.)

      The recovered funds are pledged by the rightful heirs to be put to work relieving the suffering and mayhem that the Powers that Should Never Have Been have wrought on the Rest of Us in the course of their doing Business As Usual. Kindly visit URL http://jhaines6.wordpress.com//2013/08/09/neil-keenan-update-game-changer-global-account-titans-support-keenan-as-point-man-world-bank-exposѐ-unravels-cabal-control/ for full up-to-the-moment details.

      Fact: The impending re-disposition and re-purposing of 93,000,000,000,000,000,000 (yup, 93 quadrillion USD in Fed-stolen gold bullion and more would be a terrible show to miss, even in Couch Potato Nation’s silliest moments. Convert to Euros or Pound Sterling at leisure, Gentle Reader!

      So: The news in full spectrum just might be better and more encouraging than most folk today dare think, in fact. And that is all. 0{;-)o[

  11. Having no money in the bank my wife Waynetta, and I, are not planning to leave our sofa any time soon.

    Good luck to all you rich people.

  12. So why dont you all just get your money and buy a decent safe and store the stuff yourself if you are REALLY so worried about this theft ? That surely is something you can all do. Young people couldn’t give a rats arse about this because they have no money. This is all about the oldies vs the banks. There is not a hope in hell that all my oldie neighbours would get their money and store it themselves though – same for you lot.

    As for me, i have been buying houses in the last 18mths and so cash in the bank is very low. I have been banging on that the low point for the housing market was last autumn and finally the mainstream press are now shouting the same.

    • Already am – I buy £150 in silver each month and put £100 in the safe. My mates and missus think I’m mad. I tell them that if I am I will treat them to a good feed and watering with the money when I know we are in the clear.

      Also, invest in a few 18L jerry cans and fill them with fuel. Remember to use and refill each month or so as fule will ‘go off’.

      • Interesting. I’ve been wondering whether to convert half my cash into metal for a while. I followed John’s stories on the gold and just didn’t have the courage at the end. Now its started going up again.
        Still, there appears to be a pattern inasmuch once a month it plummets.
        Of course the real problems will start when they start torturing you to find out where your safe is, or when you try to claim on your household insurance, or when you smash the brains out of some bastard who’s trying to get into your house at 3 in the morning.

    • What’s age got to do with it? The devastation of a bank going bust whilst ‘looking after’ the funds of businesses big and small won’t just affect OAP’s.

      Your portfolio of property provides scant defence against the collapse of society, however low the point of entry, they’ll actually become a liability.

      If the Western banks go bust, precious metal and the clothes on your back are the only things worth owning. Why do you think these financial institutions enjoy so much power or the phrase too big too fail came about?

      • “If the Western banks go bust, precious metal and the clothes on your back are the only things worth owning.”

        Guns and ammo first – they are useful leverage in ‘negaotiations’ for the precious metals and clothes.

        Over the years I have learned one truth: there is no such thing as a fair fight – he who fights dirtiest is invariably the victor.

        “Violence, naked force, has settled more issues in history than has any other factor, and the contrary opinion is wishful thinking at its worst. Breeds that forget this basic truth have always paid for it with their lives and freedoms.”

        -Starship trooper, Robert A. Heinlein

    • Hard physical assets will not be safe either. “This is all about the oldies vs the banks.” Not an astute remark, this involves everyone. The real confiscation phase has yet to begin.

    • Colin, If interest rate go up by 5 or 15% and house prices fall will you be able to pay mortgages?
      At present you may have tenants who are paying your mortgages, but I wouldn’t assume that you will be able to put the rents up, they may be out of work, etc, and be unable to pay.
      Taking your money out of the bank putting it in a safe is okay but it is still subject to devaluation, you may end up with a safe full of waste paper.
      My advice is clear your debts, if needs be sell properties. Take the money out of the safe and buy food and the other essentials to life. Those people with a lot of money may buy gold and silver but you still can’t eat it.
      How much will a rich man pay for a glass of water in a desert!

  13. ” Putting money in a bank makes every citizen a creditor of that bank”

    If you didn’t understand that concept before all this, I’d say your grasp of economics wasn’t that great. Heck, you only have to have watched ‘Its a Wonderful Life’ to know that your money isn’t really in the bank once you’ve deposited it there, and your only call on it is as a debt owed to you, effectively by the people the bank lent it to. If they knew that in 1946, you might have caught up by now. There really isn’t a pile of £20 notes in a box with your name on it you know.

    Fractional reserve banking and fiat money is a confidence trick. Everyone knew it (the thinking people anyway), always have. As long as everyone believes in it, it works. If they stop believing, it doesn’t. End of story.

      • No its not a pyramid scheme. That requires a constant supply of new entrants at the bottom to pay for the returns to the people further up the chain. The banking system can exist in a steady state with no new entrants, as long as all the participants don’t suddenly want their money. If they do, its not there. If only a small % want it then they can have it. As long as that small % always get their money, then the majority are happy their money is ‘safe’ in the bank, and don’t ask for it.

        Thus its entirely confidence based. Everybody confident their money is safe = no-one asking for their money = stable banking system. Everybody unsure about the safety of their money = lots of people asking for it = collapse of banking system.

        Which is why the State steps in to a) guarantee deposits and b) provide assistance to failing banks – the consequences of a systemic lost of confidence in the banking system are catastrophic for the entire economic system.

        I’m struggling to understand why all of this is news – its been known for centuries.

    • Of course you are right, we have had fractional reserve banking for centuries. However, we have not had computers or many of the financial instruments that we have today.
      As you will know the banks create money out of thin air based on; either money in their vaults, or some other assets.
      The banks used to be leveraged 10 to 1, that is if they had $100 on deposit (in reserve) they would create $1,000 in the form of a loan to some one. It was the borrowers promise to repay the loan that gave it its value. Today many banks are leveraged 30 40 even 50 to 1. So what I am saying is they are very vulnerable to bad debts.
      Today we have a derivatives market of around 700 tr that is 700 million millions. (12 zeros). So what is a derivative, well it’s a bet a very contemplated bet but never the less a BET. The thing about a bet is there is always and a winner and a loser.
      If it were a bunch of rich people betting against each other it wouldn’t be a problem, one guy would win the other would loose, not a problem.
      However, most of these bets are made with borrowed money and some of them are made by the banks themselves. So if a bank looses say a ONE million, you can times that by the amount of leverage it used to create the money in the first place, say 30 up to 50 Million. This is because the one million it just lost has to come out of the RESERVES and that one million is no longer in place to support the other loans is has on its books. $30 to $50 mil.
      The result, short of divine intervention, is the inevitable collapse of the banking system.
      Given the amount of fraud the banks have been engaged in they should be rolling in cash but they are not, are they

  14. Reblogged this on Machholz's Blog and commented:
    We in Ireland are already financial debt slaves as we the taxpayers have been forced to take on private debts of these toxic corrupt institutions. It’s just a step further for the banks to blatantly rob in broad daylight their own depositors! This of course is happening all the time as the same banks steal small amounts from every customer each time you go to take out your own money!
    Gangsters the lot of them !Take out your money from every bank and use Bit coins .try and shut off your dealings to your bank as much as possible ,when trading use barter whenever possible! My tuppence ha’penny worth!

    • Isn’t bitcoin just a digital form of fiat currency?

      From a wholly uniformed position, I would have though Bitcoin would be more prone to influence and confiscation? Surley if TPTB wanted to they could just take all of the bitcoin servers off the web and ‘poof’ money gone?

      Happy to be educated though :)

      • spot on, they want to get rid of cash, and bitcoin is the replacement. Just needs tweeking, along with implementation with your smartphone.

      • Peterloo, there are no Bitcoin servers to confiscate. Bitcoin is a network comprised of the computers of all users. They would need to shut off the whole Internet to stop Bitcoin, but they wouldn’t be able to confiscate it, just stop transactions.

      • Bitcoin is decentralised in the way that everyone that uses Bitcoin runs a kind of server. Can’t see it being so easy to shut every user down. Bitcoin can be stored offline in digital form on a computer hard disk or portable media, on paper or even in your own brain by remembering a private key code from your digital wallet.

      • Nope. Bitcoin runs on a global P2P network. To kill it, they would have to shut down the entire internet, world-wide – and keep it shut down. The survival of just a few copies of the blockchain would re-propagate the Bitcoin network as soon as the internet came back up. Just like Japanese Knotweed – ineradicable.

        On the individual level, as long as you keep your private key secure, your Bitcoin is unconditionally secure. No government can touch it – it’s not physically possible.

        It’s survived for years (far longer than any Ponzi or pyramid scheme could be expected to) and is in rude health, with acceptance as a currency and store of value increasing daily.

        Now that it exists and has been shown to work just fine, it’s a very obvious and simple way to protect your wealth. Buy.

      • bitcoin doesnt have servers, it is a peer-to-peer protocol so like bittorrent it resists being shut down.
        bitcoins can also be very easily hidden from confiscation, the cryptographic keys can written down on paper or memorised in a so-called ‘brain wallet’.

  15. Important fact:
    When you put your money into a bank that money becomes the property of the bank. That’s right! The money you put into a bank isn’t even your money. ANY MONEY PUT INTO A BANK BECOMES THE LEGAL PROPERTY OF THE BANK!

  16. Having read all this, John’s able article and all comments made, I have the overwhelming urge to do something but find it somewhat difficult to identify what. Maybe I’m only one step ahead of the lobster, perhaps not even that. What about manning the barricades, maybe marching in the streets, the French should have but haven’t because they’re as ill informed as we currently are.

    What I feel like doing is creating one hell of a stink outside Parliament until someone listens but isn’t this what happened at St Paul’s last year and to what effect. Any suggestions from anyone out there whose blood is heated too?

  17. Just before I add my rant to the 100% negative reaction, does anyone have a link to the text of the actual “law”??

    It’s not that I don’t value the Slog’s opinion – it’s just that on an issue as important as this is would like to get there myself.

    I’ve looked in the obvious place (EU Lex) but this was last updated: 26/07/2013 and it isn’t there.

    • Lol, the first thing I did when I read this piece was try to find the text or even an independent summary.

      But the web appears to be blank on this.

      So either JW has been pranked or the Eunatics are supressing it. I know which I would put my money on!

      • Sorry Peterloo I’ve been to busy standing in front of my stuff beating the hell out of whoever…… to do any research into this matter.

  18. Still here ! Still spreading the word, and still in 99% agreement – Keep it up Mr Ward !

    (Going through a really tough patch at the moment so unable to join in as much at the moment…… sorting things slowly though and will be back with a vengence !)

    • I totally agree. the banks are no longer paying interest on YOUR UNSECURED LOAN TO THE BANK. Bu,t and this is the way it works, the banks will CHARGE for cash, and if you run a cash rich business and decide to keep that cash to pay wages instead of paying it into your ACCOUNT, the INSURANCE on cash on premmisses will soar.

  19. NO BANK DEPOSITS WILL BE SPARED FROM CONFISCATION

    By Matthias Chang Esq, futurefastforward.com (with author’s permission)

    I challenge anyone to prove me wrong that confiscation of bank deposits is legalized daylight robbery

    Bank depositors in the UK and USA may think that their bank deposits would not be confiscated as they are insured and no government would dare embark on such a drastic action to bail out insolvent banks.

    Before I explain why confiscation of bank deposits in the UK and US is a certainty and absolutely legal, I need all readers of this article to do the following:

    Ask your local police, sheriffs, lawyers, judges the following questions:

    1) If I place my money with a lawyer as a stake-holder and he uses the money without my consent, has the lawyer committed a crime?

    2) If I store a bushel of wheat or cotton in a warehouse and the owner of the warehouse sold my wheat/cotton without my consent or authority, has the warehouse owner committed a crime?

    3) If I place monies with my broker (stock or commodity) and the broker uses my monies for other purposes and or contrary to my instructions, has the broker committed a crime?

    I am confident that the answer to the above questions is a Yes!

    However, for the purposes of this article, I would like to first highlight the situation of the deposit / storage of wheat with a warehouse owner in relation to the deposit of money / storage with a banker.

    First, you will notice that all wheat is the same i.e. the wheat in one bushel is no different from the wheat in another bushel. Likewise with cotton, it is indistinguishable. The deposit of a bushel of wheat with the warehouse owner in law constitutes a bailment. Ownership of the bushel of wheat remains with you and there is no transfer of ownership at all to the warehouse owner.

    And as stated above, if the owner sells the bushel of wheat without your consent or authority, he has committed a crime as well as having committed a civil wrong (a tort) of conversion – converting your property to his own use and he can be sued.

    Let me use another analogy. If a cashier in a supermarket removes $100 from the till on Friday to have a frolic on Saturday, he has committed theft, even though he may replace the $100 on Monday without the knowledge of the owner / manager of the supermarket. The $100 the cashier stole on Friday is also indistinguishable from the $100 he put back in the till on Monday. In both situations – the wheat in the warehouse and the $100 dollar bill in the till, which have been unlawfully misappropriated would constitute a crime.

    Keep this principle and issue at the back of your mind.

    Now we shall proceed with the money that you have deposited with your banker.

    I am sure that most of you have little or no knowledge about banking, specifically fractional reserve banking.

    Since you were a little kid, your parents have encouraged you to save some money to instil in you the good habit of money management.

    And when you grew up and got married, you in turn instilled the same discipline in your children. Your faith in the integrity of the bank is almost absolute. Your money in the bank would earn an interest income.

    And when you want your money back, all you needed to do is to withdraw the money together with the accumulated interest. Never for a moment did you think that you had transferred ownership of your money to the bank. Your belief was grounded in like manner as the owner of the bushel of wheat stored in the warehouse.

    However, this belief is and has always been a lie. You were led to believe this lie because of savvy advertisements by the banks and government assurances that your money is safe and is protected by deposit insurance.

    But, the insurance does not cover all the monies that you have deposited in the bank, but to a limited amount e.g. $250,000 in the US by the Federal Deposit Insurance Corporation (FDIC), Germany €100,000, UK £85,000 etc.

    But, unlike the owner of the bushel of wheat who has deposited the wheat with the warehouse owner, your ownership of the monies that you have deposited with the bank is transferred to the bank and all you have is the right to demand its repayment. And, if the bank fails to repay your monies (e.g. $100), your only remedy is to sue the bank and if the bank is insolvent you get nothing.

    You may recover some of your money if your deposit is covered by an insurance scheme as referred to earlier but in a fixed amount. But, there is a catch here. Most insurance schemes whether backed by the government or not do not have sufficient monies to cover all the deposits in the banking system.

    So, in the worst case scenario – a systemic collapse, there is no way for you to get your money back.

    In fact, and as illustrated in the Cyprus banking fiasco, the authorities went to the extent of confiscating your deposits to pay the banks’ creditors. When that happened, ordinary citizens and financial analysts cried out that such confiscation was daylight robbery. But, is it?

    Surprise, surprise!

    It will come as a shock to all of you to know that such daylight robbery is perfectly legal and this has been so for hundreds of years.

    Let me explain.

    The reason is that unlike the owner of the bushel of wheat whose ownership of the wheat WAS NEVER TRANSFERRED to the warehouse owner when the same was deposited, the moment you deposited your money with the bank, the ownership is transferred to the bank.

    Your status is that of A CREDITOR TO THE BANK and the BANK IS IN LAW A DEBTOR to you. You are deemed to have “lent” your money to the bank for the bank to apply to its banking business (even to gamble in the biggest casino in the world – the global derivatives casino).

    You have become a creditor, AN UNSECURED CREDITOR. Therefore, by law, in the insolvency of a bank, you as an unsecured creditor stand last in the queue of creditors to be paid out of any funds and or assets which the bank has to pay its creditors. The secured creditors are always first in line to be paid. It is only after secured creditors have been paid and there are still some funds left (usually, not much, more often zilch!) that unsecured creditors are paid and the sums pro-rated among all the unsecured creditors.

    This is the truth, the whole truth and nothing but the truth.

    The law has been in existence for hundreds of years and was established in England by the House of Lords in the case Foley v Hill in 1848.

    When a customer deposits money with his banker, the relationship that arises is one of creditor and debtor, with the banker liable to repay the money deposited when demanded by the customer. Once money has been paid to the banker, it belongs to the banker and he is free to use the money for his own purpose.

    I will now quote the relevant portion of the judgment of #3b4d81;”>the House of Lords handed down by Lord Cottenham, the Lord Chancellor. He stated thus:

    “Money when paid into a bank, ceases altogether to be the money of the principal… it is then the money of the banker, who is bound to return an equivalent by paying a similar sum to that deposited with him when he is asked for it.

    The money paid into the banker’s, is money known by the principal to be placed there for the purpose of being under the control of the banker; it is then the banker’s money; he is known to deal with it as his own; he makes what profit of it he can, which profit he retains himself,…

    The money placed in the custody of the banker is, to all intent and purposes, the money of the banker, to do with it as he pleases; he is guilty of no breach of trust in employing it; he is not answerable TO THE PRINCIPAL IF HE PUTS IT INTO JEOPARDY, IF HE ENGAGES IN A HAZARDOUS SPECULATION; he is not bound to keep it or deal with it as the property of the principal, but he is of course answerable for the amount, because he has contracted, having received that money, to repay to the principal, when demanded, a sum equivalent to that paid into his hands.” (quoted in UK Law Essays, #3b4d81;”>Relationship Between A Banker And Customer,That Of A Creditor/Debtor, emphasis added,)

    Holding that the relationship between a banker and his customer was one of debtor and creditor and not one of trusteeship, #3b4d81;”>Lord Brougham said:

    “This trade of a banker is to receive money, and use it as if it were his own, he becoming debtor to the person who has lent or deposited with him the money to use as his own, and for which money he is accountable as a debtor. I cannot at all confound the situation of a banker with that of a trustee, and conclude that the banker is a debtor with a fiduciary character.”

    In plain simple English – bankers cannot be prosecuted for breach of trust, because it owes no fiduciary duty to the depositor / customer, as he is deemed to be using his own money to speculate etc. There is absolutely no criminal liability.

    The trillion dollar question is, Why has no one in the Justice Department or other government agencies mentioned this legal principle?

    The reason why no one dare speak this legal truth is because there would be a run on the banks when all the Joe Six-Packs wise up to the fact that their deposits with the bankers CONSTITUTE IN LAW A LOAN TO THE BANK and the bank can do whatever it likes even to indulge in hazardous speculation such as gambling in the global derivative casino.

    The Joe Six-Packs always consider the bank the creditor even when he deposits money in the bank. No depositor ever considers himself as the creditor!

    Yes, Eric Holder, the US Attorney-General is right when he said that bankers cannot be prosecuted for the losses suffered by the bank. This is because a banker cannot be prosecuted for losing his “own money” as stated by the House of Lords. This is because when money is deposited with the bank, that money belongs to the banker.

    The reason that if a banker is prosecuted it would collapse the entire banking system is a big lie.

    The US Attorney-General could not and would not state the legal principle because it would cause a run on the banks when people discover that their monies are not safe with bankers as they can in law use the monies deposited as their own even to speculate.

    What is worrisome is that your right to be repaid arises only when you demand payment.

    Obviously, when you demand payment, the bank must pay you. But, if you demand payment after the bank has collapsed and is insolvent, it is too late. Your entitlement to be repaid is that of a lonely unsecured creditor and only if there are funds left after liquidation to be paid out to all the unsecured creditors and the remaining funds to be pro-rated. You would be lucky to get ten cents on the dollar.

    So, when the Bank of England, the FED and the BIS issued the guidelines which became the template for the Cyprus “bail-in” (which was endorsed by the G-20 Cannes Summit in 2011), it was merely a circuitous way of stating the legal position without arousing the wrath of the people, as they well knew that if the truth was out, there would be a revolution and blood on the streets. It is therefore not surprising that the global central bankers came out with this nonsensical advisory:

    “The objective of an effective resolution regime is to make feasible the resolution of financial institutions without severe systemic disruption and without exposing taxpayers to losses, while protecting vital economic functions through mechanisms which make it possible for shareholders and unsecured and uninsured creditors to absorb losses in a manner that respects the hierarchy of claims in liquidation.”(quoted in #3b4d81;”> #3b4d81;”>FSB Consultative Document: Effective Resolution of Systemically …)

    This is the kind of complex technical jargon used by bankers to confuse the people, especially depositors and to cover up what I have stated in plain and simple English in the foregoing paragraphs.

    The key words of the BIS guideline are:

    “without severe systemic disruptions” (i.e. bank runs),

    “while protecting vital economic functions” (i.e. protecting vested interests – bankers),

    “unsecured creditors” (i.e. your monies, you are the dummy),

    “respects the hierarchy of claims in liquidation” (i.e. you are last in the queue to be paid, after all secured creditors have been paid).

    This means all depositors are losers!

  20. Technically the Bank’s are correct and ALL the ‘money’ in our accounts belongs to them as we are creditors, which has been the case for over 200 years since the test case of Carr Vs Carr of 1811 and others, so they can take the money from you LEGALLY any time they like based on the promise to repay at some point. (ie. Law of ‘Bailment).These facts were further clarified by Lord Chancellor Cottenham in respect of Foley vs Hill and others in 1848 when he declared to Parliament:

    ”Money, when paid into a bank, ceases altogether to be the money of the principal; it is by then the money of the banker, who is bound to return an equivalent by paying a similar sum to that deposited with him when he is asked for it. The money paid into a banker’s is money known by the principal to be placed there for the purpose of being under the control of the banker; it is then the banker’s money; he is known to deal with it as his own; he makes what profit of it he can, which profit he retains to himself, paying back only the principal, according to the custom of bankers in some places, or the principal and a small rate of interest, according to the custom of bankers in other places. The money placed in custody of a banker is, to all intents and purposes, the money of the banker, to do with it as he pleases; he is guilty of no breach of trust in employing it; he is not answerable to the principal if he puts it into jeopardy, if he engages in a hazardous speculation; he is not bound to keep it or deal with it as the property of his principal; but he is, of course, answerable for the amount, because he has contracted, having received that money, to repay to the principal, when demanded, a sum equivalent to that paid into his hands”.

    ”That has been the subject of discussion in various cases, and that has been established to be the relative situation of banker and customer. That being established to be the relative situations of banker and customer, the banker is not an agent or factor, but he is a debtor”

    STAGGERING STUFF which 99.9% of the public do not know!!

    As I commented a few days ago John… NOTHING will change whilst the commercial Bank’s own and manipulate the entire FRB (debt based) money supply, which in reality operates no differently from the points created on a computer on a Tesco clubcard and which ONLY have ‘value’ inside the system/cartel. (ie. Unlike say Gold). As a result, it makes not a dot of difference which party is nominally ‘in power’ as the Lib/Lab/Con do exactly as their are told by the their masters the bankers. Cameron and the rest know this full well and so just use this charade to line the pockets of themselves and their cronies. Similarly the MSM propagate the myths/ignore the truth/distract the masses with endless BS from the likes of AEP when they can tear themselves away from the footie or Corrie for 5 minutes.

    • but he is, of course, answerable for the amount, because he has contracted, having received that money, to repay to the principal, when demanded, a sum equivalent to that paid into his hands”.

      What is the point of the guarantee limit if the banker has contracted to repay the principle?

    • What people miss is that when you are a creditor of a company or individual who cannot pay on demand, then you can petition for the company’s liquidation or individual’s bankruptcy.

      I the case of the banks, us creditors are powerless – our recourse to the law has been taken from us. We just have to suck it up.

  21. Pingback: New Slog Post. GLOBAL LOOTING: The new EU bailin law was passed 8 days ago…did you notice? #johnward #EU - NTMarkets.com

  22. John, I am glad you caught up with some of the pitfalls of the wonderful new “liability chain concept”. I say wonderful because I think it was ridiculous that tax payers were immediately volunteered to repay large banks and hedge funds. So all power to those who say “tax payers should come last!” But it has to be done right!

    I link below an article which I wrote about the pitfalls a month ago. There are indeed very major ones.

    Probably the greatest pitfall of all is: when you tell regular depositors that they will carry risk in the future, governments/regulators have to make sure that there are at least some banks which carry only normal risk of normal banks.

    Take Deutsche. It used to be “Germany, Inc”. As solid as the Bundesbank itself. Not even a thought to be wasted whether or not a deposit in Deutsche was safe.

    Today, Deutsche has almost 5 times as many ‘risk-free-assets’ as it has ‘risk-weighted assets’. Its total assets are financed at around 98% with debt. A leverage of about 40:1. That kind of a leverage would be considered high if it were a hedge fund. But in the case of Deutsche?

    Politicans are now saying to depositors something like “we know Deutsche used to be solid as a rock and you had nothing to ever fear and we know that Deutsche is now more similar to a gambling joint because regulators overlooked something; but because Deutsche is now more similar to a gambling joint, we have to ask you to share in any gambling losses”. (I cannot think of any TBTF-bank which carries the normal risk of a normal bank!).

    That, to me, is quite a proposition, to say the least! If someone put his money in an Icelandic internet bank because they paid 1-2% more than a solid-as-a-rock bank, he/she justifiably faced increased risks. If someone now puts his money, at market-conform low rates, in Deutsche because he/she justifiably thinks that Deutsche is not an Icelandic internet bank, then it is unacceptable for politicians/regulators to allow Deutsche to become even riskier than an Icelandic internet bank. More arguments in the link below.

    http://kleingut-reflections.blogspot.co.at/2013/07/new-eu-rules-on-bank-bail-ins-perhaps.html

  23. Could anyone please answer my questions and also add any other information they consider relevant to help me.

    1) Do these new rules only apply to actual eurozone banks or also to foreign banks licensed to operate in the eurozone, if it applies to licensed foreign banks, say a British, Russian or Turkish bank how could any bailout on these new E.U. terms be operated without the collaboration of the country the bank was from.
    If a eurozone bank that failed had branches operating outside the eurozone how could the E.U. insist on their bailout rules applying to accounts in those banks if the country they operated in has different rules and what would happen if eurozone citizens had deposits in a branch of a eurozone bank in a non E.U. country.
    2) Do the same rules that apply to any and all deposit accounts operated by a bank that comes under the legislation, i.e. sterling / yen / U.S. dollar, etc, etc, accounts or just euro accounts ?

    Apologies for any mistakes, my English is not the best.

    • Senhor Mathias – the short answer is trust no bank anywhere. They all work on the same principle creating compound interest bearing debt in a system based on fiat money. The system worked on trust (and widespread ignorance). In 2008 the banksters betrayed that trust. With Cyprus, European governments confirmed they will pillage all the cash they can get their filthy fingers on to save their political project – the euro. Depositors need to take the lessons from this and act to preserve their assets in the coming tsunami. Boa sorte.

  24. Pingback: Revealed: official details on how the EU will steal from us | Awaken Longford

  25. Sadly, the British government’s response to the final report of the Independent Commission on Banking, chaired by Sir John Vickers, contains the following: “6.11 The nature of the legislation required to implement statutory bail-in will depend on the final form of the EU crisis management framework. If this includes bail-in proposals, the Government would seek to put a bail-in regime in place as part of the implementation of the crisis management framework.” Not a good prospect, to say the least.

  26. Has anyone here tried reading Frances Coppola @ Coppola Comment ? She adds a vastly new dimension to ‘smug’. I think she must be a reincarnation of whoever was advising Lord Norman at the Bank of England in the 1920s-30s.

  27. Only one thought, pull your money from the banks even purchasing toilet rolls is an investment for the future under Keynes because it earns the rate of return of the ever increasing value – that’s an investment. Once you have physical and that includes toilet paper, actually anything then you have hedged the inflation game.

    *for the next bit I hold currency (in the hand form) is very different to the safe in a bank (IOU form).

    You could liken the current situation to pass the parcel where everybody has something, be it IOU’s, currency and physical as the only 3 types. When the music stops all those with paper lose, that is everything from stocks and shares or banks statements for electronically stored IOU’s in banks.

    Currency in hand is equal to physical in that without a currency physical will be very difficult to trade. Physical though has the one advantage “it is not deflated away” so an ounce of gold or a roll of toilet paper is still that.

    Last point … Out of all of this who is going to backstop all these IOU’s and a bank statement is of the form of an IOU. From what I can see if all IOU’s are cashed in all at the same time there is not enough worth to cover it all.

  28. So banks that have given us mortgages, loans or credit cards are now ‘investors’ to us? And by the same rules we as individuals might decide to make our ‘investors’ take a haircut on the money they’ve put into our personal economies?

  29. Pingback: SUPER-ALARM: The new EU bail-in law was passed to rob our bank accounts | Piotr Bein's blog = blog Piotra Beina

  30. Mr Ward: A most impressing impaling of the thieves who hold the reins.

    The world is a farm is it not? We are the lifestock that enrich the farmers.

    Slavery has never, ever, gone away: The Wilberforce Act a con, while the Colonial Reform Bill gave a little of the truth.

    Now? The truth of what is real is thrust into our faces. How do we react? Um, we do not. Why?

    Is it the Fluorosilicic Acid in our Water, our food, our toothpaste? Yes, in part.

    Is it EM? Yes to that too, in part.

    Is it the demonisation of Marijuana/Hemp, so that the Cotton/Slave/Opium trade might be synergesically integrated to improve profits for the Mathesons and the Rothschilds through the East India Company. Oh yes, that to. But then this is a conspiracy? Well, a conspiracy by installment and brought about by greed more than through Forethought.

    Our history as taught an illusion? Of course.

    To begin to unravel a small part of the truth would fill a library: Yet that truth is of itself simple.

    100,000 years ago. Massive changes.

    12,000 years ago. History diverted from what is real.

    1500( or thereabouts) years ago began a large conspiracy.

    And then this changed everything, leaving just one door open.

    http://one-evil.org/content/symbols_triple_crown.html

    Evil accelerates: The door closes.

    Everything you write here has threads stemming from those three papal bulls.

    My view is that the topmost levels of the Catholic hierarchy brought into being the greatest evils ever faced by mankind. Including wars of extermination of “People and Knowledge”.

    The CC has been at war within itself for a millenia. Popes, antipopes and the Grey popes have used this world and its peoples as a plaything as an extension of their lusts. It is not pretty.

    The only clue ever given was the article three from the Treaty of Verona.

    The megabanks today are not the top of the food chain: The Vatican is. On a personal level I believe that Evil (with the capital E) will not and cannot be defeated until the Church of Rome falls, and the other of its adherents falls with it.

    But then, I may be wrong in my beliefs.

    It remains true that up until around the 16th century to be caught reading a bible was synonymous with a horrible death. I belief such a sentence is still active for gentiles reading the Torah (Zohar & Talmud). It is all about control. All of our law, including tha law of the see derives from those papal bulls. The head of world: The claimed vicar of Christ, claiming sovereignty over all lands, all peoples, all souls. Using the “Court of Rota” to disempower and disenfranchise” all living Men and Women. Claiming ones birthright by the age of seven being the only remedy (true). Though the required knowledge to make such a claim witheld. Only the Topmost (Elites) possessing the necessary knowledge to claim ownership of their own lives and possessions. The Law? Pffft.

    Unless such a claim is made one is presumed lost at sea (see). What we live through now under the abusive weight of age old evil, is itself entirely logical as not only have the doors to freedom been closed, but the knowledge gained by mankind as our race climbed has been deprived and repressed as those same Elites descendents buy our leaders and force us ever lower while attacking our health and well being in every way possible as the mass media invents news, and reality itself while mass medicating towards mass death.

    Conspiracy? If you say so.

  31. The law of unintended consequences applies yet again.
    All they have done is ensured that the split second there is a tiny sniff of trouble (like RBS’ computer glitch of last year), everyone will be straight down to their local branch to pull their money, or do it digitally. So what might be a slight sniffle in the banking world, will become mortal pneumonia in minutes.
    My question would be -can they claw back the digital money you have taken out, if you haven’t already turned it into notes and coins?
    Barroso, smug as ever, communally applauding himself. That bugs me big-time.

  32. Officially now, nobody can complain when their money gets taken by the bail-ins.

    You’ve had more than enough warning, if you haven’t by now done something to protect what is yours, then you deserve everything that’s coming to you.

  33. I keep saying it and I’ll say it again.

    Starve the beast. Withdraw your money and buy real, physical gold which you can hold in your own hand.

    Pay cash whenever possible. Their plastic cards are vehicles for spying by the banks and their buddies in governments across the globe.

    Stop buying, make or grow your own – and if you have to buy, buy second-hand, buy long-lasting goods, buy from your neighbour for cash, barter with your neighbours, buy from Mom & Pop shops and avoid all global corporations, even indirectly.

    Query everything. Keep their systems jammed up. Complain, campaign and don’t shut up. Don’t be cowed by insults – they won’t hurt you if you don’t let them.

    Hopefully, enough of us will go on tax and e-payment strikes to put as many of the b*stards out of business as possible.

  34. `Serious question to John Ward here.
    I have thousands in La Banque Postale in France. Not enough to break the €100k limit but.
    The owner of La Banque Postale is the French State.
    Where do I stand?

  35. One thing not to forget is the EU directive that gives them total control over all ATM’s in the Eurozone. They can limit output at all ATM’s to a certain amount, no matter who you are. The same directive also gives them the right to stop transfers.

  36. Pingback: At the End of the Day | The Slog. 3-D bollocks deconstruction

  37. This is just the beginning, if you think money is all they’re after you’ve got another think coming. The proletariat are getting a bit too wise to the playbook, and the same people who sit plotting these cosy state-sanctioned robberies now have technology that makes us virtually redundant.

    They can fight wars with robots and drones, don’t even need humans to control them!

    The best analogy is boiling frogs. They’ve been turning the heat up slow for a long time, and now they don’t really need as many of us.

    Agenda 21, Chemtrails, Psy-Wars, False-Flags… It goes on and on and we’ve become stupid and vain enough (with their help) to deny that people would do this to us.

    We’d better wise up. Fast.

    • Agenda 21, Chemtrails, Psy-Wars, False-Flags… It goes on and on and we’ve become stupid and vain enough (with their help) to deny that people would do this to us.

      “With their help” please let me rephrase that for you ” by their INDOCTRINATION”

  38. Pingback: Fiat Money Game Change | Align Shine Prosper's Blog

  39. I’m in John.

    But then you already knew that.

    In a strange kind of way, I don’t blame the banks or the politicians – they’re sociopaths, so they’re just doing what sociopaths do. It’s the media, the TV news in particular, which I hold accountable for all this. If writers like you and Golem XIV can find this information and make it available, why can’t they with their multi-million pound studios, cameras, editing suites etc.?

    I loathe the smug reporters who smirk at staged North Korean celebrations or who pile in to criticise the latest enemy of the West (an enemy they were probably arming last year). Our journos might scalp a minister, but criticise the system? Never.

    ”We are not all in this together. They are all in this together against us. We are on our own.”

  40. Greg Palast’s appearance on the Keiser Report was a good one recently. He points that what the big banks and IMF did in the Third World and South America – debt farming followed by ‘structural adjustment’ programmes, has now come home to roost.

    The news that Argentina DIDN’T default on all its debt was a surprise to me and just illustrates how the debt vultures’ narrative is so easily taken up by our ‘free media’.

  41. Yes when you deposit money in a bank it is the property of the bank and you are merely a creditor. Carr v Carr 1811 remains the legal authority.

  42. Pingback: THE SATURDAY ESSAY: We’ve given enough to the asylum inmates. Let them sort out their own mess. | The Slog. 3-D bollocks deconstruction

  43. Stop the hysteria and think for a second what you are saying.
    The banks take your deposits and lend money to others. This is the relationship between a private bank and a private investor. It is based on trust. The bank must fight tooth and nail for the investor’s trust, or they have no capital. Trust is their life blood. Spot the taxpayer in the system? No, neither there should be.
    What you seem to suggest is all taxpayers should back your investment. Why? Wasn’t that the root of the problem of overconfident banks who thought the treasury is their own? Do you enjoy paying for Nothern Rock and RBS?
    If you want state guarantees, invest in state debt. Otherwise, switch on your brain for a second and think who you trust before giving them your money. State and taxpayer should have no business bailing out private parties.
    I certainly support the Big Nanny State backing off from private affairs. I certainly don’t want the State guaranteeing some fool’s investment with my money.

    • Do some research. Yes we bailed out RBS, yet RBS was sold to Santander in 2012. Where is our tax money? Why haven’t we all received a sum from the sale? Who of the high street banks can you trust then? You HAVE to have a bank account to have the privilege of working to earn the money. So please enlighten me with which banks to put my wage into?

  44. Pingback: John Ward – The Saturday Essay: We’ve Given Enough To The Asylum Inmates. Let Them Sort Out Their Own Mess – 10 August 2013 | Lucas 2012 Infos

  45. Good article but why would the Zionist controlled NATO mainstream media want to reveal the truth about the Zionist mega banks such as NM Rothschild and Goldman Sachs who purposely engineering the financial crisis in the first place?

  46. Pingback: Global Looting: The new EU bail-in law was passed eight days ago … did you notice? - Global News Platform - Global News Platform

  47. Pingback: Global Looting: The new EU bail-in law was passed eight days ago … did you notice? | Street Democracy - where it should reach

  48. Perfect time to put your value into a different vehicle. Bitcoin is a decentralized, digital, peer-to-peer currency that may be a life raft for many sinking ships. http://www.bitcoin.com go check it out and good luck my world wide family!

  49. So the reason the banks were bailed out by us last time was apparently they were to big to fail. People or so called sheeple lapped it up as they thought it was done to save their hard earned money.

    So now what excuses will they use to brainwash the masses. We have taken your money to pay back erm… Who is it we have to pay back Mr Rothschild? Oh yeah you, we have taken your money coz it was never yours anyway, we are too big to fail..

    Seriously though what excuses will the media NLP over the airwaves now. This one action has to awaken the world, there is no excuse that would be believed.

    Incidentally who does each country in the world owe money to? Who are the deficits owed to? Why is this never discussed in the media?

    • We bailed out the top 5% oligarchs in the UK, not the banks themselves. These globalist criminals own everything including all the controls of society. The oppression has not even started yet!

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  52. We the depositors (creditors ) are in a lose lose situation. Even if you have been storing metals the PTB know about the transactions, and could ask for it back ……… of course by a new law. If you were caught bartering with some gold you had stashed, they would prosecute heavily. If you had cash stuffed under the mattress, we will become cashless when the crunch happens, so it would be worthless. And what about pensions going into the bank each month ……… presumably with the low volume current account ( as mentioned in your article ) there would be a penalty.
    Storing food and water ……….. how much for goodness sake and the looters will be desperate to steal them. Then comes your home. Oh yes! Another law to requisition bedrooms ( just like our bedroom tax ) that are not being used ……… or a massive hike in rates.
    And I have always believed that should every man woman and child in the UK march on Whitehall and start a revolution, you would see the UN move in here, big time, with limitless US military backing, and make the Iraq war look like a picnic. And anyway there will only be a trickle of protest to all this, when it happens. We only do satire, when we are being screwed! No ” Arab Spring ” here.

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  54. A DEPOSITOR is considered, by your “Account Agreement” an “Unsecured Creditor” .the Magna Carta, the American Constitution and The Canadian BNA Act were documents DESIGNED by the Establishment to make the Serfs feel good, free and secure UNTIL they are not, once again !!!

  55. They can take your money or tax it as they see fit, but you think they can’t do the same to your gold or your rentals or your land, etc? And once they get all money digitized, there won’t be any use for those fiat dollars you stashed under your bed. Or maybe they will just create a tax on purchases paid with cash. And how exactly are wealthy people supposed to pull all of their savings out of banks and keep it at home? The banks fight you if you try to withdraw $10,000.00. How do you withdraw hundreds of thousands or millions of dollars in cash?

  56. Pingback: Global Looting: The new EU bail-in law was passed eight days ago … did you notice? | Conspiracy This Week | What Team Are You On?

  57. With the federal reserve act ending in December, and the euro. dollar in trouble. The Rothschild’s are planning to come up with a world dollar which they will control . What do you think, ?? When all dollars go down the tube next year the people will panic and accept anything that they say as 90% of all people have no idea what money is or how it comes about and WHO IS IN CONTROL OF IT. they are all pawns. What is your reply ANDREW Esq. Date: Fri, 9 Aug 2013 07:51:59 +0000 To: chinandu@hotmail.com

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  60. Besides funny money, the government(s) in Europe will be able to tax, confiscate or make illegal gold, silver, guns, food stores, and even real estate by passing “laws”. Even though these laws will be illegitimate. Won’t make a difference. The EU “Constitution” is also illegitimate and hasn’t made a difference . Most of the 500 million EU citizens are not armed or inclined to physically fight back against tyranny because creature comforts are still more important to the brainwashed populations. Yet it’s probably a good idea to have some gold, silver, food stores and to grow your own food and to have some useful skill-sets. As for guns, it’s almost impossible to get them now here unless you are Swiss or have criminal contacts. The next best thing are cross-bows and compound bows, still obtainable. From my own experience they are highly effective – I’ve learned over 20 years to kill a running rabbit or someone’s chicken at about ten meters on the first shot most of the time. Human targets are even easier. Cannot compare bows to guns but they are a hell of a lot better than no weapon at all and make no noise.

  61. Again, this is just another scam that the Rothschild family and their cabal of psychopaths have TOLD politicians to foist on the unsuspecting public. Most people believe that if the banks end, the world will end-this is because these people watch too much Coronation Street and don’t do enough real time research. There is obvious theft going on here, but politicians have conned people into accepting it to ‘save the banks’. This is a dreadful lie! Banksters can print more money from thin air, the money used now is not backed by anything-it has the real time value of Monopoly money, the term for this is ‘Fiat Currency’. The banks failed in 2008, governments and the bankster mafia have propped up the scam at our expense. How do they do this? Fear, fear is the key! Now stop dithering and plant some food crops, because the system will fail soon, probably before this time next year, sooner most likely. Be ready, be prepared, don’t be a victim!

  62. Pingback: GLOBAL LOOTING: The new EU bailin law was passed 8 days ago….did you notice? | gold is money

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  64. Pingback: GLOBAL LOOTING: The new EU bailin law was hurried through alright…but the template was premeditated | The Slog. 3-D bollocks deconstruction

  65. Pingback: John Ward – Global Looting: The New EU Bailin Law Was Hurried Through Alright…But The Template Was Premeditated – 11 August 2013 | Lucas 2012 Infos

  66. Pingback: The Great Unwinding - what is it and why should I care? - Page 22

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  71. I may be a bit naive is saying this since I live in the US, and this might already be the case here as well, but if not it will be soon since we usually follow a lot of the policies of the EU. You may not think so but we do and it’s given a different name to apease the common person.

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  73. I’m more scared of the Tories than the EU. I’m hoping the EU might save us from their evil plans, which are worse than anything the EU will do. It was the Tories who got us in the EU when they thought it would only be good for their corporate donors. As soon as there were directives good for workers such as having enough breaks and holidays, Thatcher caused trouble for us with the EU to virtually make us a state of the USA. Such as when she made us the only country that allowed the USA to use us as an airport to bomb Libya. Even France made them fly around their country.

    • I do sympathise with what you say, but right left or centre, this is a fascist dictatorship in the making. We must all oppose it…AND the gargoyles mumbling away behind Cameron.

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  77. There is a herd mentality that seems to be guiding the Western nations off of a cliff in unison. It will be very difficult for this to not end badly.

  78. Pingback: G20 Showdown on Dollar Hegemony – tulips, anyone ? / EU bailin law passed / collectivists need bogeymen | paulthepaperbear

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  81. I’ve been digging through very dry policy papers for the past month and folks need to calm down. Bail-ins are basically just a means of allowing failing banks to go through a bankruptcy-like (where they are restructured or wound down and their salvageable operations are transferred to other banks) process without trashing the entire financial system and taking down healthy banks. Prior to the new resolution regimes, failing banks would have had to suffer through bankruptcy, and the losses suffered by creditors (and yes, that has *always* included depositors) would likely have been the same (or worse if the bank’s assets became severely distressed in an ensuing panic). The Financial Stability Board paper on the “Key attributes of Effective Resolution Regimes,” as well as a subsequent paper co-written by the Band of England and the Federal Deposit Insurance Corporation, states that losses are to be no greater under a bail-in than they would have previously been under a bankruptcy scenario. The question is then: “where do uninsured depositors fit in such a scenario?” Fortunately, the EU is moving towards a depositor preference regime similar to what the U.S. has had since the early ’90′s. Uninsured depositors (those with deposits in excess of the amount guaranteed by the national deposit insurer) will then be safer than senior bondholders in the unlikely event of a failure(ie they get first dibs on what’s left). The only ways uninsured depositors are likely to be hit in a failure situation is if either all the other investors lose *everything*, or if there are no other creditors -ie junior/senior bondholders (more or less what happened in Cyprus). Stricter capital requirements (banks have to raise more funds by issuing shares than they did previously), along with the likely introduction of “bail-in” bonds – bonds that are specifically designed to take the hit before anyone else when a bank fails, will further cushion uninsured depositors.

    If you want to push for something, don’t rail against bail-ins, demand something that makes sense like depositor preference, and higher deposit insurance coverage.

    Lastly – just because bureaucrats are formulating policy about bank failures doesn’t mean financial armageddon is imminent. They’ve been working on this stuff since the 2008 crisis when everyone was caught with their pants down. You can’t cry wolf or fault them for trying to ensure that never happens again.

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  84. Thank you for your blog, I found it while searching for the Bundesbank bail-in policy. My friends and I in the USA are fighting to bring back the 1933-1999 Glass Steagall law which would throw out the 2010 Dodd-Frank law that includes “bail-in”. See more about our efforts at http://www.larouchepac.com/glass-steagall Keep fightin! PS: LaRouche and David Kelley were fighting the oligarchy to keep us out of the Iraq War. This time we win!

  85. Pingback: Proposed New Law Lets Banks Steal from Customers, a la Cyprus

  86. Pingback: 2014 – 001 EU to confiscate 10% of your bank deposits? |

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