Re: [PND]Pandacoin | Cryptocurrency for the masses | Easy to use, buy, mine and understand |
if this is so, expect large influx into crypto.
just in time for pnd's new release, no?
http://www.examiner.com/article/bank-deposits-will-soon-no-longer-be-considered-money-but-paper-investments
"On Sunday in Brisbane the G20 will announce that bank deposits are just part of commercial banks capital structure, and also that they are far from the most senior portion of that structure. With deposits then subjected to a decline in nominal value following a bank failure, it is self-evident that a bank deposit is no longer money in the way a banknote is. If a banknote cannot be subjected to a decline in nominal value, we need to ask whether banknotes can act as a superior store of value than bank deposits? If that is the case, will some investors prefer banknotes to bank deposits as a form of savings? Such a change in preference is known as a "bank run."
Each country will introduce its own legislation to effect the bail-in agreed by the G20 this coming weekend.
Large deposits at banks are no longer money, as this legislation will formally push them down through the capital structure to a position of material capital risk in any "failing" institution. In our last financial crisis, deposits were de facto guaranteed by the state, but from November 16th holders of large-scale deposits will be, both de facto and de jure, just another creditor squabbling over their share of the assets of a failed bank." - Zerohedge
just in time for pnd's new release, no?
http://www.examiner.com/article/bank-deposits-will-soon-no-longer-be-considered-money-but-paper-investments
"On Sunday in Brisbane the G20 will announce that bank deposits are just part of commercial banks capital structure, and also that they are far from the most senior portion of that structure. With deposits then subjected to a decline in nominal value following a bank failure, it is self-evident that a bank deposit is no longer money in the way a banknote is. If a banknote cannot be subjected to a decline in nominal value, we need to ask whether banknotes can act as a superior store of value than bank deposits? If that is the case, will some investors prefer banknotes to bank deposits as a form of savings? Such a change in preference is known as a "bank run."
Each country will introduce its own legislation to effect the bail-in agreed by the G20 this coming weekend.
Large deposits at banks are no longer money, as this legislation will formally push them down through the capital structure to a position of material capital risk in any "failing" institution. In our last financial crisis, deposits were de facto guaranteed by the state, but from November 16th holders of large-scale deposits will be, both de facto and de jure, just another creditor squabbling over their share of the assets of a failed bank." - Zerohedge
This is.. massive. I can't really express how I feel about this, just shocked. Though not really, since these people have been working to enslave the masses for so long, they are just ramping it up.
They know that the real crash is coming soon.
Seriously this is hilarious. The wealthy will be fleecing the rich. Fucking Zombiebanks. Pour it all down the black hole called Derivatives.
"...$1.5 quadrillion derivatives bubble..." - Webster Tarpley
1.5 quadrillion lol!
Accounts with less than $250,000 at FDIC participating banks will still be covered under FDIC rules.
So this is how it was spun to the British public http://www.theguardian.com/business/2014/nov/09/g20-deal-banking-regulation-mark-carney
Isn't that about the time BTC starting coming back? I agree crash is coming soon however an interesting question is say you have 250k in long term deposit and a 250k overdraft, bank crashes and the long term deposit is now worth 10 cents on the dollar, how much do you have to repay on the overdraft account? Actually I think I know the answer to that.