On Wed, Mar 21, 2018 at 04:54:37PM -0400, grarpamp wrote:
https://www.stlouisfed.org/publications/central-banker/summer-2013/from-bail...
TLDR seems to be: Forced privatization of top level holding company of a failing bank; outstanding debt claims against the failing bank, are converted into equity claims - evidently this waters down all existing shareholders; still appears to be a backstop of depositor (unsecured creditor) bail in; in other words, this looks to be a little more of "spread the damage amongst all stakeholders, and also throw open the doors to share sales to raise even more capital, to rescue the failing TBTF bank. A bit of convoluted hogwash basically to forestall the QE-to-infinity nature of the global fiat ponzi scheme. In our Australian constitution: "gold and silver coin" is the only lawful money. But our treason loving politicians past were done over by the Rothschild's fiat empire, although over 30 years after the American "Federal Reserve" system was most recently re-established, and that's why we in Australia came out of WW2: - with ZERO debt - and the second wealthiest per-capita nation in the world (behind Switzerland at the time) - and also why since Bretton Woods, we've been royally f*cked over like the rest of the West (upwards of a trillian $ in debt now) Of note, Australia's intra-country gold production is enough to back our national currency in about 10 years of mining. But the real problem is the flaccid ignorance of citizens in gold cages - so fixing the problem is no guarantee that the gun-wielders won't just waltz in again in a few decades and steal it all back again. Such is human...
http://www.latimes.com/opinion/readersreact/la-le-1218-thursday-fdic-2014121...