The U.S. Plans To Bail-In The Banks – Federal Reserve Vice C

[aloneibreak]

another step...

http://www.blacklistednews.com/The_U.S. ... 8/Y/M.html

from the article...

In a speech yesterday, in Stockholn Sweden, Vice Chairman of the Federal Reserve and former governor of the Bank of Israel and former chief economist at the World Bank, Stanley Fisher noted:

“As part of this approach, the United States is preparing a proposal to require systemically important banks to issue bail-inable long-term debt that will enable insolvent banks to recapitalize themselves in resolution without calling on government funding–this cushion is known as a “gone concern” buffer.”

Mr. Fisher gave no details as to whom in the United States was preparing the bail-in proposal and what “bailinable long term debt” is.

[beauanderos]

another step...

http://www.blacklistednews.com/The_U.S. ... 8/Y/M.html

from the article...

In a speech yesterday, in Stockholn Sweden, Vice Chairman of the Federal Reserve and former governor of the Bank of Israel and former chief economist at the World Bank, Stanley Fisher noted:

“As part of this approach, the United States is preparing a proposal to require systemically important banks to issue bail-inable long-term debt that will enable insolvent banks to recapitalize themselves in resolution without calling on government funding–this cushion is known as a “gone concern” buffer.”

Mr. Fisher gave no details as to whom in the United States was preparing the bail-in proposal and what “bailinable long term debt” is.

If you still keep funds in US banks... you are foolishly naive. You know what they've always said about the stock market? "Only invest what you can afford to lose?" That now applies, in spades,
to keeping money in TBTF banks.... checking accts, savings accts, CD's, etc. Get out of the system NOW.

[68Camaro]

Ditto Ray's admonition, though there will almost certainly be a threshold below which people will not have funds taken.

[coppernickel]

I like the idea of getting out of the banks, but that means no checks, no debit/credit cards, no pay checks. I can't afford to live unemployed with no ability pay for life, just yet.

Currently no one is willing to trade with money, they would rather cash, credit, or electronic.

[beauanderos]

I like the idea of getting out of the banks, but that means no checks, no debit/credit cards, no pay checks. I can't afford to live unemployed with no ability pay for life, just yet.

Currently no one is willing to trade with money, they would rather cash, credit, or electronic.

just try to minimize your exposure. For instance, I have unlimited money orders/cashier's checks available to me from Union Bank (much sounder bank than those with huge derivatives exposure) for only an extra dollar a month.
I've mostly quit selling real money (silver, gold) but if I choose to do so in the future, I'm considering only accepting cash or money orders. If you accept a personal check from anyone, through no fault of their own, and a collapse occurs before
you could deposit and withdraw funds... you may have no recourse to getting compensated for the silver or gold which you sent to them based on their good reputation gained via feedback or previous dealings. Such a collapse (bail-in's) is likely
much closer to realization than most can imagine.

This is an instance where it's better to be a year early ... than a day late

[coppernickel]

One of the bail-in plans is to let people use debit cards, but if you want cash they will give you "shares" instead. These "shares" both show you own the banks debt, and are transferable, at some future time for cash.

[SilverDragon72]

What would you propose to those who have retirement accounts and 401k type stuff? Especially those, like myself, who cannot touch such funds until employment termination or resignation.