Bank of England Governor Demands G-20 Summit Impose Bail-In Thievery Across the Board

4 Sept. (LPAC)–Bank of England chairman Mark Carney,
“speaking in his capacity as chairman of the Financial Stability
Board (FSB), the global financial regulator”, on Aug. 31 demanded
that all countries implement the banking rules the top central
banks have decided on, including unrestricted bail-in. Carney
praised the UK, U.S., Netherlands, Germany, Switzerland, France,
Japan, and Australia as the countries which have already
abandoned sovereign bank regulations for the imperial ones.
(Switzerland has published the most bluntly revealing outline of
what they will do to bank depositors.)
“Jurisdictions need to implement fully the internationally
agreed policies,” Carney demanded, “through additional
legislation and regulation; cross border co-operation agreements
must be struck, and policies for gone-concern loss absorbing
capacity should be developed.” [Not a misprint: “gone-concern”
capital means Tier 2, or unsecured creditors’ capital, as opposed
to stockholders’ equity and earnings; so, this means bail-in.]
This was clearly aimed at the G20 meeting. Carney also said
the threat of another general bank panic will persist through the
end of 2014

This entry was posted in Austerity & Bank Bailouts, Economy and tagged , , , , , , , , , , , , . Bookmark the permalink.

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