What Will Happen When Banks Go Bust?
newscatcher
2023-02-26 00:31
What Will Happen When Banks Go Bust?
Bank Runs, Bail-Ins and Systemic Risk by Ellen Brown / February 25th, 2023 Financial podcasts have been featuring ominous headlines lately along the lines of ' Your Bank Can Legally Seize Your Money ' and ' Banks Can STEAL Your Money?! Here's How! ' The reference is to 'bail-ins:' the provision under the 2010 Dodd-Frank Act allowing Systemically Important Financial Institutions (SIFIs, basically the biggest banks) to bail in or expropriate their creditors' money in the event of insolvency. The problem is that depositors are classed as 'creditors.

https://dissidentvoice.org/2023/02/what-will-happen-when-banks-go-bust/

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