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Tuesday, March 19, 2013

Now New Zealand thinks bail-ins are super

First Cyprus, out of desperation made a decision to try to tax depositor accounts small and large, even those government protected (Think EU version of the US' FDIC)

This is termed a "bail-in" rather than a "bailout"

So far their legislative body has failed to pass the measure but ultimately something will...

Desperate people or nations do desperate/despicable things..

Then Germany's Finance Minister yesterday suggested Italy implement the same measures by taxing every depositor 15% to come up with the necessary funds to bail themselves out..

And today.. New Zealand is thinking this 'fuck with the savers' economic plan is a really keen idea...
"The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts, the Green Party said today.

Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out..."  (Scoop.nz)

See how it spreads?

One day it will hit the US, by some emergency draconian measure like a US bank holiday (nothing celebratory about it-- it means you can't get your $$ out of the banks) due to a severe market crash, or one of our creditors calling in our debts...
Who knows... But in the heat of the moment, all a President has to do is suspend habeus corpus and all bets are off the table, like that piece of shit Abraham Lincoln did during the Civil War . This allowed him to literally burn to the ground anti-Union newspapers and arrest/jail people for long durations without due process or trial

Woodrow Wilson did the same thing during WWI and Worse (he felt Lincoln had not gone far enough) -- Wilson actually kicked anti-WWI war protesters who weren't US born citizens out of the country, never to be allowed to return

So don't just assume all is fine because its America--

We've had bank holidays before... The last one, in 1933, FDR forced everyone to turn in their physical gold or be arrested.  Then once government took possession, they devalued and re-pegged the gold by 25% percent meaning if you re-purchased what you turned in, you lost a quarter of its value instantly.

The whole thing make us sick to our stomachs..
The tricks and schemes and rotten machinations...

Everything done for the benefit of banks and Wall Street and the elite capital-I Investor class... and the bottom 99%-- the 300 million non-elites... we just take it...

The colonists had to put up with far less than we do today and they fought the Powerful, Mighty British Empire for political emancipation

'Uhh.. Duhh.. yes but.. Uhh.. We have a 'vote' after all.. elected representatives... Um.. uh.. The colonists didn't... that's why they rebelled.. duh duh..'

Neighbor, Please!

Those people had families to protect too... Homes that could just as easily be demolished to the ground..  Businesses that could be taken... Credit to be instantly seized... Imprisonment or death for speaking treasonous against the King...

And somehow they did it...
And we.. Due to a combination of leaders with a cult of personality whom we tend to gullably embrace depending on political party, and the most Desperate need to be constantly entertained and mentally sedated to any problem outside ourselves..

Well.. we just work as diligently and singular-focused to block out life as those of times past worked to improve the quality of theirs..

Ah the magic of legally prescribed mind-numbing opiates..

And sports...

Do you want to know how to get Americas in a passionate, irrational state?  To get them so angry and foaming-frothing at the mouth furious that all other matters come secondary?

Have a referee make a bad call during the Super Bowl or the upcoming NCAA Tournament that cost bettors their precious money... The you'll Really see the sleeping bear awake...
~ Michael Jordan.. what sportsmanship from a classy guy....

Other than that folks, don't hold your breath