Posted on March 23, 2013 by lucas2012infos | Leave a comment
planning Cyprus-style solution for New Zealand …The National Government
are pushing a Cyprus-style solution to bank failure in New Zealand
which will see small depositors lose some of their savings to fund big
bank bailouts, the Green Party said today. Open Bank Resolution (OBR) is
Finance Minister Bill English’s favoured option dealing with a major
bank failure. If a bank fails under OBR, all depositors will have their
savings reduced overnight to fund the bank’s bail out. “Bill English is
proposing a Cyprus-style solution for managing bank failure here in New
Zealand – a solution that will see small depositors lose some of their
savings to fund big bank bailouts,” said Green Party Co-leader Dr Russel
Norman. – Scoop
Dominant Social Theme: It’s all ours now.
Free-Market Analysis: First Cyprus and now New Zealand. Is it coincidence or something more?
Globalists that are trying to create an international monetary
solution often implement programs in various countries at once. The
question arises as to whether Money Power itself – the banking entities
and those behind them that control a good deal of the world’s wealth –
have decided to “send a message” about the relationship between citizens
and their banks.
We’ve certainly noticed that the advent of the Internet and
ever-rising level of information sharing has sparked additional
assertiveness from Western governments. The US in particular, with its
expanding wars in Africa and assertion that US officials are to collect
taxes anywhere in the world, is becoming extraordinarily aggressive.
But even US officials have not yet suggested that in the case of
banking failures, citizens would be liable for a significant haircut or
even lose their entire life-savings.
Cyprus and New Zealand are well down this road.
Is a message being sent to savers? Is this going to become the new normal in the West?
We’re all for risk taking, by the way. But the banking system today
administers government monopoly money. And the dollar reserve system
itself is propped up by Saudi willingness to accept dollars for oil in
preference to any other currency.
Thus, the banking system is nothing near a free-market one. In this
artificial construct, asking savers to take risks is not merely unfair;
it is a recipe for increasing social dissent.
Interestingly, the Green Party in New Zealand seems to recognize this. Here’s more from their press release, excerpted above:
“The Reserve Bank is in the final stages of implementing a system
of managing bank failure called Open Bank Resolution. The scheme will
put all bank depositors on the hook for bailing out their bank.
“Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.
“While the details are still to be finalised, nearly all depositors will see their savings reduced by the same proportions.
“Bill English is wrong to assume everyday people are able to
judge the soundness of their bank. Not even sophisticated investors like
Merrill Lynch saw the global financial crisis coming.
“If he insists on pushing through this unfair scheme, small
depositors can be protected ahead of time with a notified savings
threshold below which their savings will be safe from any interference.”
Investors, of course, are not able to judge the soundness of banks
because banks are part of a larger fiat-money system that is foundering.
There is only one sure thing about current economic systems worldwide –
and that is that they will undergo regular crises as money printing
becomes overwhelming and economic instability results.
The press release goes on to point out that New Zealand ought to
promote a deposit insurance scheme rather than an open-bank resolution
scheme that includes deposit confiscation.
But the release leaves unanswered the larger question, which is one
that has to do with the sudden occurrence of such approaches. One is
left with the uneasy feeling that top Western bankers somehow DO want to
send a message to citizens that the banking system itself is the master
not the servant.
If so, people will trust banks even less than they do now, and the
result will be, generally, a financial system increasingly prone to
Conclusion: Out of chaos … what?
www.worldtruth.tv/ link to original article
Thanks to: http://lucas2012infos.wordpress.com