Expropriating large depositors at troublesome banks is now international policy coordinated by the Bank for International Settlements, GoldMoney’s Alasdair Macleod writes today, and while distribution of one’s deposits to preserve coverage by government deposit insurance may provide some protection, in the end any wealth held in the international banking system is vulnerable.
“That the BIS feels it has been necessary to co-ordinate G20 nations into a common approach to bank rescues using uninsured non-monetary and financial institutions’ deposits is evidence that bank failures capable of threatening the global financial system are definitely an ongoing risk,” Macleod writes. “The central banks will have calculated that raiding this category of deposits is a matter of expediency, and any run on deposits out of vulnerable banks can be contained by central banks acting as lender of last resort. This is based on the simple fact that either deposits are moved around the system, or when they are drawn down in favor of something else, the money released remains in the banking system. However, raiding these deposits is only an interim solution, because the underlying assumption is that the financial condition of the whole banking system does not deteriorate further.” …
But of course the system is mathematically predestined for collapse and they know it. They just aren’t ready to allow it to happen yet. First China and Russia must be contained, and the people must be rendered utterly dependent on and at the mercy of the respective captive states. Both issues could be addressed by the appropriate false flag event, pulling the rug out from the global economy and setting the stage for WWIII.
“We are on the verge of global transformation. All we need is the right major crisis and the nations will accept the New World Order.” — David Rockefeller, Statement to the United Nations Business Council, 1994
The powers of financial capitalism had [a] far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent private meetings and conferences. The apex of the system was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world’s central banks which were themselves private corporations. — Caroll Quigley in “Tragedy and Hope”