YES SOMETHING IS AFOOT : THE BAIL IN

In a retweet today Tony Gosling asks the question: is something afoot?

Yes something is afoot.

THEY ARE TESTING THE BAIL-IN!!

Here is the tweet:

What kind of ‘war games’ is George Osborne playing in Washington? - is there something afoot ? http://t.co/jbOVADcRkB pic.twitter.com/HuDrcMK6od

— Are We All Asleep ? (@demindblower) October 14, 2014

The tweet refers to an article in The Guardian on a suspicious meeting in Washington of bankers and financiers and politicians. We are told that the meeting is to simulate a banking crisis and observe if the response is do-able.

But there is much more to this.

After the crisis of 2007/8 nations are skint but their citizens are not. A crisis on the scale of 2007/8 is in the pipeline. Financial observers have stated this. No banker went to jail, and legislation has barely changed in the wake of the 2007/8 crisis.

But rather than implement Glass-Steagal and keep our saving safe, fascist Bilderberg politicians have decided, "Fuck that! Take their savings!". This is what the bail-in is. In 2007/8 nations bailed out the banks. But the nations are now skint and cannot raise the credit (from whom?). But the citizens still have money, in current and savings accounts. In a bail-in the banks take money directly out of your accounts.

You may have laughed at Cyprus applying the bail-in to rich Russians.

Well, the laugh is on you.

As The Guardian article states, a similar simulation was run in 2004. What did that simulate? An institution like Northern Rock failing!!

These people know what they are doing.

They planned the 2007/8 crisis at Bilderberg. Their banks were bailed out while others were allowed to go under and were bought up at bargain basement prices.

AND NOBODY WENT TO JAIL!!

They are now planning to take your own private personal money.

ALL OF IT!!

The “bail-in” scheme cooked up by the British Empire to maintain their control over a disintegrating trans-Atlantic financial sector, will be subjected to a “financial war game” test on Oct. 13. At a closed-door meeting at the FDIC’s headquarters, “the top financial brass from the Treasuries and central banks of Britain and the U.S. are to take part in a war game,” Larry Elliott wrote in the Guardian, “to test how they would handle another Lehman Brothers-style banking crisis.”

Bloomberg’s account makes it clear that “bail-in” is what is on the agenda, reporting that the exercise is “aimed at testing the global framework on bank resolution,” now that governments are adopting “a package of measures designed to put an end to publicly-funded bailouts when banks collapse.” Under “bail-in,” first implemented in the 2013 Cyprus crisis, savings deposits, pensions and other “unsecured creditors” are fleeced in order to keep select financial institutions afloat.

Bloomberg also reported that the Financial Stability Board (FSB), headed by the Bank of England’s Mark Carney, will be presenting new rules at a G-20 summit in Brisbane, Australia next month, and that the “FSB maintains a list of globally systemically important banks”--the infamous GSIFIs that “bail-in” is designed to salvage.

Reuters adds that the gathered authorities “are keen to prove they have created rules that will allow them to let a large bank go under without spending billions in taxpayers’ dollars,” but adds that the cross-border feature of most of the too-big-to-fail banks is a “particularly thorny issue.” They explain that great progress has been made by issuing so-called bail-in bonds (they describe them as “long-term bonds that investors know can lose their value during a crisis”), and also because they are considering removing derivatives from the instruments exempt from being bailed-in. This has been batted around for a while, and even if they could agree to do that looking forward (which is doubtful), it does absolutely nothing about the $2 quadrillion in derivatives and other financial assets that are already out there, and which are ticking time bomb.

British Chancellor of the Exchequer George Osborne, in announcing the war game to the press at the IMF meeting in Washington, tried to put a bright face on the exercise: “No war game is like war itself. But it means we will be far better prepared. I’m sure this is not the last time this will happen.”

Among those present on the U.S. side will be Treasury Secretary Jack Lew and Deputy Secretary Sarah Bloom Raskin; Fed chief Janet Yellen, Robert Dudley of the NY Fed, and Fed Governor Daniel Tarullo; the heads of the FDIC, the SEC, the CFTC, and the Office of the Comptroller of the Currency. From the British side, in addition Osborne, Mark Carney of the Bank of England will be there along with his deputy, Nemat Shafik; the heads of the Prudential Regulation Authority and the Financial Conduct Authority.

Presumably they will also have plenty of cardiologists on hand, to pick up the pieces when these idiots fail the stress tests they have devised.

So the bail-in is being tested.

And if it works then get your savings out of your bank pretty sharpish and start looking to put it somewhere the banks can't get it...because to them your money is their money and they can do whatever they want with it.

[source : London’s Fascist “Bail-in” Scheme To Be Tested in a “Financial War Game” in Washington Oct. 13, LPAC, http://larouchepac.com/node/31894, 12th October 2014]