October 4, 2013
WEB Notes: A “bail-in” is the theft of the money you placed in the banks account. Once you did that the money became theirs. If this is news to you, we highly encourage you to read, It Can Happen Here: The Confiscation Scheme Planned for US and UK Depositors. In addition, it is already happening around the globe, Cyprus-Style Wealth Confiscation Is Now Starting To Happen All Over The Globe.
With the United States facing a $17 trillion debt and an acidic debate in Washington over raising that debt limit on top of a potential government shutdown, Congress could mimic recent European action to let banks initiate a “bail-in” to blunt future failures, experts say.
Previously the federal government has taken taxes from consumers, or borrowed the money, to hand out to troubled banks. This could be a little different, and could allow banks to reach directly into consumers’ bank accounts for their cash.