Daylight Robbery

De: Ian Wishart

Narrado por: Virtual Voice

THE NEW BOOK ON THE COMING FINANCIAL MELTDOWN As Europe’s banks and governments teeter on the edge of total financial collapse, how many people know our government has drafted plans to raid people’s personal bank accounts if the worst comes to the worst over here? We've already been stung for billions in a string of finance company collapses, and have retreated to storing their money in banks, but what happens if a world financial crisis ignites overnight while you are sleeping?: “For the market incentive approach to banking supervision to work, the possibility that a large bank could fail, and that creditors could lose some of their money, has to be credible. This policy has become even more relevant in the post 2008 crisis period where regulators around the world have begun to revisit the role of creditors in absorbing some of the losses when banks fail. The ‘too big to fail’ perception will always have credence if people believe that a government will always bail out a large bank…” – RESERVE BANK BRIEFING FOR BANKS What they’re planning for is a process called “haircutting”, where bank customers could find their personal accounts frozen while they sleep, indefinitely. “The proportion of their funds to be frozen or which remains inaccessible will be based on an estimation of the losses following a conservative assessment of the net asset deficiency incurred by the failing bank, plus a suitable buffer.” – RESERVE BANK The good news is that if you have secured deposits, you “might” be OK. If it’s just an ordinary bank account, however, you could be left penniless: “The haircut process has no impact on the ranking of creditors that would apply in a conventional liquidation. Secured creditors would be able to look to their security to ensure that they are, in effect, paid in full (assuming their security is adequate), while subordinated creditors would not receive any payment unless the senior creditors were paid in full.” Want to know more and how it could affect you? It’s all in the new 2012 edition of DAYLIGHT ROBBERY. Did you know our modern international banking system is founded on the “TInkerbell Principle” – it only works as long as enough people keep believing in it. Details of how banking really works are laid bare in this book – and it’s crucial information everyone with a credit card, bank loan or bank account needs to know.