Zero Hedge: “Draghi’s ECB and Carney’s BoE have put in place plans for bail-ins and deposit confiscation. Yellen’s Fed is quiet allowing the FDIC to do the controversial bail-in ‘dirty work’ by stealth. Bail-ins cometh … Prepare …
Opinion: On March 23, 2013 the government of the tiny nation of Cyprus announced it would be seizing bank deposit assets in an effort to prop up the banking system.
Since March it has come to light that the US, UK, and Canada have plans in place to seize bank accounts in the event of a banking failure.
In September, financial analyst Jim Sinclair warned that the US banks most likely to be “bailed-in” by their depositors are those institutions that received government bail-out funds in 2008-2009.
“Such a “bail-in” means all savings of individuals over the insured amount would be confiscated to offset such a failure.”
Central bankers all over the world have been creating massive amounts of money to buy government debt in an effort to hold interest rates down. A good analogy is: holding a beach ball under water and sooner or later it will pop up to the surface.
It appears that things are about to change.