Blatant Gov’t Theft of Your Money Begins

Posted by Taki Tsaklanos: Mountain Vision

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Financial repression has truly shown its face in 2013. The year started with an epic event: a bail-in of major banks in Cyprus which laid the foundation of a bail-in template (recently released by the BIS).

Poland saw a major restructuring of its private pension funds; the funds were nationalized overnight. One could call it “pension fund confiscation.”

The Detroit bankruptcy was another major development. Recently, it became clear that pensioners, retirees and other unsecured creditors would undergo a 84% haircut on each dollar (source).

One of the newest inventions in the financial world in 2013 was “bank bail-ins.” The term achieved the status of a commonly accepted buzz word in a very short period of time. In its latest update, Taki Tsaklanos from Gold Silver Worlds discussed several recent cases which provided proof of the bank bail-in rumble growing louder. He also explained that bank bail-ins are the result of extreme banking leverage; excess liquidity provided by the central banking corporations do not prevent bank bail-ins, they feed them.

The 10% savings cut proposal by the IMF for European households has luckily not been implemented [yet?], but the fact it is openly being discussed as an idea is worrisome to say the least. In our view, it deserves adding it to our list as it is an indication of coming major unexpected measures.

….read more HERE