http://www.bbc.com/news/world-
QUOTEThe rescue was a "bail-in" - meaning bondholders suffered losses - unlike the hugely unpopular bank bailouts during the 2008 financial crisis, which cost ordinary EU taxpayers tens of billions of euros.
Note how the BBC fails to mention that this bailin policy was used previously in Cyprus. Most of you probably remember that.
It
is amazing to me that this was not mentioned, although I note that the
worst financial news is almost always suppressed. This suggests to me
that the world msm have tacit instructions not to cause panic among
their readers. In other words, such bailins may also soon be used
elsewhere in the West but they will occur locally and the msm will not
make a fuss and possibly pull their money out of the banks.
I would not want a lot of money in any Western bank right now.
Interestingly,
I just now learned from a private source that people lost their savings
when the Soviet Union collapsed. The money went to the oligarchs who
now control the Russian financial system, working hand in hand with US
bankers. This system is beyond Putin's control and both he and the Duma
are working to fix this.
Just think: We are now reliving Soviet times in terms of our financial system.
Suffice it to say we are in trouble.
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