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Life Arts

Secret FDIC Plan to Loot Bank Accounts

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by fdic

Your bank accounts are unsafe. FDIC insurance won't help.

It shouldn't surprise. It's already policy. Market analyst Graham Summers explained. Depositor theft is coming. Europe is banker occupied territory. So is America. 

Finance is a new form of warfare. It's more powerful than standing armies. Banking giants run things. Money power has final say. 

Economies are strip-mined for profit. Communities are laid waste. Ordinary people are impoverished. Even their bank accounts aren't safe.

Cypriot officials agreed to tax them. Canada, New Zealand, and Euroland member states plan doing the same thing. So does America.

Officially they're called "bail-ins." It's code language for grand theft. Instead of breaking up, nationalizing, or closing down failed banks, depositor funds will keep them operating.

Money printing madness can't go on forever. Regulators, like FDIC, haven't enough money to insure depositors. It's simple mathematical logic.

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Ordinary people and richer ones have trillions in bank accounts. It's low-hanging fruit. It's a treasure trove begging to be looted. Legislative shenanigans legitimize it.

It's happening offshore. It's approved in Canada. It's coming to America. "What happened in Cyprus isn't a 'one-off,' " said Summers. When systemic crisis hits, things happen "FAST and FURIOUS."

Cpyriot bailout talks continued for months. "And then the entire system came unhinged in one weekend."

Banks closed. Capital controls were imposed. People couldn't write checks. They lost access to their money. Limited amounts only were permitted. Insiders were tipped off. They exited early. Others uninformed now suffer.

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Dodd Frank financial reform capitulated to Wall Street. It did so at the expense of the economy, states, local communities, and ordinary people hit hardest.

It's wrongheaded. It provides a veneer of regulatory cover. It's a scam. It's laden with false diagnoses and fatal flaws. It lets Wall Street continue business as usual. 

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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What about the banking system in Brazil?  Doe... by Margaret (nick name - Juliana) Hess on Tuesday, Apr 9, 2013 at 3:55:15 PM
Seems to banks aren't needed anymore.  In Ala... by Lester Shepherd on Tuesday, Apr 9, 2013 at 7:25:13 PM
OK, look, EVERY tax is a forcible taking of part o... by John Mills on Tuesday, Apr 9, 2013 at 10:14:07 PM
The government wants to take as much of the people... by Timothy Gatto on Tuesday, Apr 9, 2013 at 11:22:47 PM
The government?  Yes. But not without the par... by Daniel Penisten on Tuesday, Apr 9, 2013 at 11:33:15 PM
That's why they will eventually force all people t... by thepiffler on Monday, Apr 15, 2013 at 9:47:44 AM
On page 2 of this article "Legislation already was... by Daniel Penisten on Tuesday, Apr 9, 2013 at 11:25:29 PM
My SS is directly deposited into my credit union.... by Jerry Scott on Wednesday, Apr 10, 2013 at 9:31:03 PM
Are credit unions exempt from this new scheme?... by Daniel Penisten on Wednesday, Apr 10, 2013 at 10:46:55 PM
The FDIC document that sets forth the policies for... by Jerry Scott on Thursday, Apr 11, 2013 at 1:36:19 AM
...GOOD!  I don't need my financial instituti... by Daniel Penisten on Thursday, Apr 11, 2013 at 11:57:27 AM
Yes, U can have your SSI checks directly deposited... by thepiffler on Monday, Apr 15, 2013 at 9:53:35 AM
Before government deposit insurance ALL deposits i... by Derryl Hermanutz on Tuesday, Apr 9, 2013 at 11:30:53 PM
Well said Mr Lendman, crisp and to the point as us... by K V Ramani on Wednesday, Apr 10, 2013 at 2:09:43 AM
I TOTALLY agree!... by thepiffler on Monday, Apr 15, 2013 at 9:56:28 AM
 FDIC article entitled Resolving Globa... by Jerry Scott on Wednesday, Apr 10, 2013 at 9:27:13 PM
"47 (page 11) Similarly, because the (subsidiary) ... by Jerry Scott on Wednesday, Apr 10, 2013 at 9:27:52 PM
1. I don't believe there are plans yet to do what ... by syed mahdi on Thursday, Apr 11, 2013 at 12:51:58 AM
THEY ARE WRONG!... by Richard Girard on Thursday, Apr 11, 2013 at 5:59:33 PM