Beware the Banking Cartel Attack on Your Deposits – Learn about Derivatives


This ‘nsnbc’ post by Ellen Brown (SA), “Winner Takes All: The Super-Priority Status Of Derivatives”, provides a comprehensive look at the current, (corrupt) banking system and the current and future dangers to depositors.

This is very, very serious stuff.

Cyprus-style confiscation of depositor funds has been called the “new normal.” Bail-in policies are appearing in multiple countries directing failing TBTF banks to convert the funds of “unsecured creditors” into capital, and those creditors, it turns out, include ordinary depositors. Even “secured” creditors, including state and local governments, may be at risk. Derivatives have “super-priority” status in bankruptcy, and Dodd-Frank precludes further taxpayer bailouts. In a big derivatives bust, there may be no collateral left for the creditors who are next in line.

Shock waves went around the world when the IMF, the EU, and the ECB not only approved but mandated the confiscation of depositor funds to “bail in”…

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5 responses to “Beware the Banking Cartel Attack on Your Deposits – Learn about Derivatives

  1. Pingback: Winner Takes All: The Super-priority Status of Derivatives — State of Globe

  2. I can’t read an entire article like this anymore. I was at “ground zero”, a training session given by Bank of America on how to ensure you qualified for Short Cut Accounting on this specific “hedge” when during the presentation, the news came over the wire that BofA had to restate their earnings, due to inappropriate Hedge Accounting. Thankfully, I no longer need to go there.


    • They are all the same: do you know that for decades, saving accounts will give up to 20% interest: Now they give nothing (0.01%)?


      • Yup. 25 years “making the acquisitions work” or cleaning up the mess when they didn’t. I’ve seen enough to follow my Grandparents example. Don’t borrow, pay cash, and bury what you don’t spend in the backyard. Only problem now is, ya can’t find the Folgers cans with a metal detector. They’re plastic. 🙂


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