The Big Banks
have $700 trillion invested in derivatives.
Total global GDP is only $70 trillion. These banks are leveraged
50:1. Derivatives are “bets” placed on
investments going up or down. The Big Banks have invested depositor money in
these derivatives. So, it derivatives
take a hit, these banks will be bankrupt.
The last G-20 meeting pledged to bail out these banks if they went
bust. The US Spending Bill that just
passed has an amendment that also allows this bail out. The model for this is the Cypress Bank, when
they ran out of money and seized depositor money to cover their losses. – Norb
Leahy, Dunwoody GA Tea Party Leader
The following
is from Greg Hunter USAWatchdog.com Published on Dec 9, 2014
When a
financial crash does happen, you can forget about getting immediate access to
your money. Ellen Brown of The Web of Debt Blog says, “The banks will say,
well, we don’t have it. All the money goes into one big pool since Glass
Steagall was repealed. They are allowed to gamble with that money and that’s
what they do. I think maybe Bank of America is the most vulnerable because of
Merrill Lynch. Everybody is concerned, and they do very risky deals and they
are on the edge. I think they have over $50 trillion in derivatives and over $1
trillion in deposits. . . The Dodd-Frank Act says we, the people, are no longer
going to be responsible for the big banks when they collapse. It is not clear
the FDIC will even be able to borrow from the Treasury, but even if they could,
who is going to pay that money back? Let’s say they borrowed $1 trillion. Who
is going to pay that $1 trillion dollars back? It will bankrupt all the small
banks that had to contribute to this premium. They will say we’re raising your
premium to everything you got, basically. Little banks will go out of business,
and who is going to survive--the big banks. . . . What we’re going to have left
is five big banks, and everybody else is going to be bankrupt.”
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Ellen Brown from EllenBrown.com.
The latest is called “Big Banks Will Take Depositors Money In Next Crash -Ellen Brown.” The G-20 met recently in Australia to make new banking rules for the next financial calamity. Financial reform advocate Ellen Brown says these new rules will allow banks to take money from depositors and pensioners globally. Brown explains, “It became rules we agreed to actually implement. There was no treaty, and Congress didn’t agree to all this. They use words so that it’s not obvious to tell what they have done, but what they did was say, basically, that we, the governments, are no longer going to be responsible for bailing out the big banks. These are about 30 international banks. So, you are going to have to save yourselves, and the way you are going to have to do it is by bailing in the money of your creditors. The largest class of creditors of any bank is the depositors.”
It gets worse, as Brown goes on to say, “Theoretically, we are protected by deposit insurance up to $250,000 in the U.S. and 100,000 euros in Europe. The FDIC fund has $46 billion, the last time I looked, to cover $4.5 trillion worth of deposits. So, even though we are protected by the FDIC, the FDIC is not going to have the money. . . . This makes it legal for these big 30 banks to take our money when they become insolvent. They are too-big-to-fail. This was supposed to avoid too-big-to-fail, but what it does is institutionalizes too-big-to-fail. They are not going to go down. They are going to take our money instead.”
Source: Greg Hunter USAWatchdog.com Published on Dec 9, 2014
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Ellen Brown from EllenBrown.com.
The latest is called “Big Banks Will Take Depositors Money In Next Crash -Ellen Brown.” The G-20 met recently in Australia to make new banking rules for the next financial calamity. Financial reform advocate Ellen Brown says these new rules will allow banks to take money from depositors and pensioners globally. Brown explains, “It became rules we agreed to actually implement. There was no treaty, and Congress didn’t agree to all this. They use words so that it’s not obvious to tell what they have done, but what they did was say, basically, that we, the governments, are no longer going to be responsible for bailing out the big banks. These are about 30 international banks. So, you are going to have to save yourselves, and the way you are going to have to do it is by bailing in the money of your creditors. The largest class of creditors of any bank is the depositors.”
It gets worse, as Brown goes on to say, “Theoretically, we are protected by deposit insurance up to $250,000 in the U.S. and 100,000 euros in Europe. The FDIC fund has $46 billion, the last time I looked, to cover $4.5 trillion worth of deposits. So, even though we are protected by the FDIC, the FDIC is not going to have the money. . . . This makes it legal for these big 30 banks to take our money when they become insolvent. They are too-big-to-fail. This was supposed to avoid too-big-to-fail, but what it does is institutionalizes too-big-to-fail. They are not going to go down. They are going to take our money instead.”
Source: Greg Hunter USAWatchdog.com Published on Dec 9, 2014
See Ellen’s Video: https://www.youtube.com/watch?v=Ey20x-VlDYQ#t=242
Join Greg Hunter as he goes One-on-One with Ellen Brown
from the Web of Debt Blog. Here’s the link: http://usawatchdog.com/big-banks-will... Thank you for considering linking to
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