“Give me control over a nation’s currency and I care not who makes its laws”
If you aren’t already aware of what is taking place around the world in respect to banking, and most recently in Cyprus, then you need to start paying attention.
NOTE: Warren Buffet, called derivatives ‘Weapons of Mass Destruction’. These financial instruments are colossal in size and power.
In New Zealand, our deposits are not insured. Depositors are viewed basically if not completely as unsecured creditors (call them up and ask +64 4 472 2029), whose funds will assist in bailing in banks. That’s right. They will bail themselves in with your money. It’s not enough to lend out deposits at interest with the magic of fractional reserve banking. You must also give depositors a haircut if you fail.
Visual on sub prime crisis
John Key, current New Zealand prime minister, put an end to deposit insurance. This means your money is not safe. Was it ever safe? I don’t know. Although I don’t believe taxpayers money should be used to pay depositors back, I do believe that the bank has an obligation to their depositors. These days it’s quite hard living without a bank account. Without a bank account and an IRD number of some description, you can’t do shit really. And what about when cash no longer exists? Then what are you gonna do? Your money will be paid into a bank regardless. So how do you want banks to treat us? By giving us deposit haircuts to save themselves after they over extend themselves. They create money in their ledgers via Fraction Reserve Banking. A truly amazing concept really. Truth really is stranger than fiction.
Q. So what?
A. I’d like to hear you to tell me that after your money takes a haircut.
Q. It won’t happen in my country!
A. LOL. The resolution is already in place for New Zealand – http://www.rbnz.govt.nz/regulation_and_supervision/banks/policy/4335146.pdf (previously http://www.rbnz.govt.nz/finstab/banking/4335146.pdf, but linked was changed) and since the link may change again, it is also available here, in my dropbox account. Please visit http://www.rbnz.govt.nz/ if you wish to research further. We are in line for a haircut, just like everyone else. Cyprus is the litmus test. The people there didn’t really have a choice. But we, non-Cypriots, have witnessed it, and can learn from it.
Q. I don’t believe you!
A. I don’t have to make you believe anything. What do I have to gain from writing this blog? A few token readers? All I need to do is peel your eyes open wide enough so that you can start seeing again. “In the land of the blind, the one-eyed man is king”
You simply can’t afford to not pay attention to world events. They affect you regardless. Some more than others obviously. It’s time to pay attention people.