The New Reality: Cyprus-style Bail-ins to Take Deposits AND Pensions

Raging Bull-shit

This just out from Ellen Brown, author of Web of Debt and founding president of the Public Banking Institute, a nonpartisan think tank devoted to the creation of publicly run banks:

On the weekend of November 16th, the G20 leaders whisked into Brisbane, posed for their photo ops, approved some proposals, made a show of roundly disapproving of Russian President Vladimir Putin, and whisked out again. It was all so fast, they may not have known what they were endorsing when they rubber-stamped the Financial Stability Board’s “Adequacy of Loss-Absorbing Capacity of Global Systemically Important Banks in Resolution,” which completely changes the rules of banking.

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