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Let's put bail-in into perspective. I have about $64,000 sitting...

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timber1956

7,423 Posts.

152

23/08/14

16:14

Post #: 13861938
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Originally posted by All4One ↑

BMD

All of a sudden the masses are talking about bail in. How long have we been warning of this??
G20 is the body that will bring this in and Hockey/Abbott will be the heroes for the bankers.
These bonds the article you posted of will be issued to those who hold deposits in the banks. This is what the current Australian governments idea is. When questioned they deny the Bail in but do not deny the Bank Bond scheme. They will take your money and give you worthless bonds. How much will the banks bond be worth after it steals everbodies money??
What of Self Managed superannuation accounts?
Share trading accounts?
I will be taking my money out of the banks and buying silver and gold coins as soon as this government announces any kind of change to the way banks are bailed.

The proponents of this Bail In scheme say it is better for the banks to take depositors money than the taxpayer's money. Who the hell do these people think the depositors are, aliens from the planet zork??
Most of the deposit holders are taxpayers.

So the Bail in is designed to make banks safer, who are they safer for?? Certainly not anyone that has money in them, then who??
Let me say the people will have the last word on this. If even 10% of people take their money out of any particular bank its good night Irene for that bank.

The government allows this so they can keep all their money and steal yours and then say well our economy is looking good.

My money will be leaving the banks around the time of the G20.
Be careful because they wont call it anything like Bail in. It will be masked in legal and Bankster speak.

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Let's put bail-in into perspective.

I have about $64,000 sitting in my SMSF's bank account with the NAB at the moment. Assuming that a bail-in including ordinary depositors was triggered*, that would leave me with $57,600 in the bank account and an equity position in NAB nominally worth $6,400.

This would not be the end of the world. I am not likely to rush into a volatile investment like gold or hide cash under the bed to avoid this unlikely event.

*My reading of the IMF discussion papers on bail-in, they are likely only to affect bond holders.
https://www.imf.org/external/pubs/ft/sdn/2012/sdn1203.pdf
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0 Great analysis

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