Ellen Brown-Depositors Die and Banks Live in Next Financial Calamity
Greg Hunter on Jan 5, 2016
Public banking expert Ellen Brown warns that people are more at risk in the U.S. to lose their savings because the five biggest banks have nearly $250 trillion in derivatives. In a financial calamity that could cause mass bankruptcies, recent legislation says the derivative holders will be paid first. Brown explains, “The have super priority over everything. . . . All the creditors’ money will be taken in a bail-in. A bail-in is the opposite of a bankruptcy. In a bankruptcy, the bank is liquidated in order to pay off the creditors. In a bail-in, the creditors’ money is taken in order to keep the bank alive. So, we get to die while the bank lives instead of the reverse. They specifically say ‘creditors’ which means shareholders and bond holders, but what most people don’t realize is depositors are also considered creditors. When you put your money in a bank, it becomes the property of the bank, and all you have is an IOU.”
Join Greg Hunter as he goes One-on-One with Ellen Brown of EllenBrown.com.
Great Minds: Ellen Brown – Did You Know Banks Can Take Your Money in A Crisis?
The Big Picture RT on Jan 8, 2016
When the next financial crisis comes – the big banks could save themselves by stealing right out of your checking account. Banking expert Ellen Brown, Public Banking Institute/Web of Debt/The Public Bank Solution will explain how in tonight’s Conversations with Great Minds.
Great Minds: Ellen Brown – Why Public Banks Make More Sense
Ellen Brown is an attorney, founder of the Public Banking Institute, and author of twelve books including the best-selling Web of Debt. Her latest book, The Public Bank Solution, explores successful public banking models historically and globally. Her 300+ blog articles are at EllenBrown.com. Listen to “It’s Our Money with Ellen Brown” on PRN.FM.
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