Posted by Sam Fenny - Memes and headline comments by David Icke Posted on 1 October 2022

Bank ‘Bail-ins’ – they can take your money if they get in trouble and trouble is coming fast

The Bank of England further announced that it had decided, with the approval of HM Treasury, to recognise the bail-in and The PrivatBank (Recognition of Third-Country Resolution Action) Instrument 2021 came into force on 14 May 2021.

Are bail-ins legal in UK?
Today, the Bank of England published Executing bail-in: an operational guide from the Bank of England. Bail-in is one of the stabilisation tools available to the Bank as resolution authority under the Banking Act 2009. Bail-in ensures investors, rather than public funds, bear losses where a firm fails.

Can banks legally confiscate your money?
The fact is, any money you store in a banking institution now becomes an unsecured debt, and you become an unsecured creditor that is called on to share in the burden of a bank loss. You have little- to-no legal recourse. Act gives the right for banks to confiscate those funds in and use them as needed.

Has there ever been a bank bail?
Big banks were deemed too big to fail following the financial crisis of 2007-2008, resulting in government bailouts at the expense of taxpayers. Financial reforms ushered in with the Dodd-Frank Act eliminated bailouts and opened the door for bail-ins.

How do I protect myself from a bank bail-in?
So what can bank customers do to protect their investments?
Diversifying savings across banks and using credit unions;
Monitor the current and long-term financial stability of the deposit-taking bank and monitoring the bank’s financial stability;
Avoiding banks with large derivative books and large mortgage books;

Can the government take money from your bank account in a crisis?
The Takeaway

So, can the government take money out of your bank account? The answer is yes – sort of. While the government may not be the one directly taking the money out of someone’s account, they can permit an employer or financial institution to do so.

How do bank bail-ins work?
A bail-in helps a financial institution on the brink of failure by requiring the cancellation of debts owed to creditors and depositors. Bail-ins and bailouts are both resolution schemes used in distressed situations. Bailouts help to keep creditors from losses while bail-ins mandate that creditors take losses.

Read More: Are bank bail-ins legal in the UK?

The Trap

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