Ellen Brown: Banks Can Take Your Money In A Crisis

Image by A. Golden via Flickr

by Ellen Brown
Writer, Dandelion Salad
The Web of Debt Blog
January 13, 2016

My Dec. 29th article “Bail-ins Begin” prompted two video interviews, with Greg Hunter on USAWatchdog.com, and Thom Hartmann below.

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.

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Image by Peg Hunter via Flickr

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.

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Great Minds: Ellen Brown – Why Public Banks Make More Sense

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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.

from the archives:

Your Life Savings Could Be Wiped Out In A Massive Derivatives Collapse by Ellen Brown

Keiser Report with Gerald Celente: Bankism, Oil Prices and US Election Insanity + Happy New Year 2016

Michael Hudson: There Is No Sign Of Recovery

Hang Onto Your Wallets: Negative Interest, the War on Cash, and the $10 Trillion Bail-in by Ellen Brown

Propping Up the Derivatives Casino: Don’t Count on the FDIC by Ellen Brown