G20 Changes the Rules.

[IdahoCopper]

http://www.examiner.com/article/bank-deposits-will-soon-no-longer-be-considered-money-but-paper-investments

Bank deposits will soon no longer be considered money but paper investments

On Sunday in Brisbane the G20 will announce that bank deposits are just part of commercial banks’ capital structure, and also that they are far from the most senior portion of that structure. With deposits then subjected to a decline in nominal value following a bank failure, it is self-evident that a bank deposit is no longer money in the way a banknote is.

[coppernickel]

Heard the bail in was coming.

[smalltimeopn]

Yikes

[Morsecode]

That's wonderful.

[IdahoCopper]

The FDIC will continue to insure deposits up to $250,000 - for now, I think.

If you (or your friends/family) have CDs in excess of that amount, its almost time to convert it all to PMs, or get it out of the banking system as $100 bills and put it in your safe. Another option is 500 Euro notes, less bulky than US$100s.

[Engineer]

When I took out a HELOC, my bank statement showed the entire amount as funds available. Now I'm wondering if those accounts could be subject to bail-ins.

It would really suck to lose X% of your equity if you didn't even have money deposited.