Exposing tax dodgers is a worthy endeavor, but the “limited hangout” of the Panama Papers may have less noble ends, dovetailing with a "war on cash" and the potentially imminent threat of massive bail-ins of depositor funds.
While the mainstream media focus on Islamic State extremists, a threat that has gone virtually unreported is that your life savings could be wiped out in a massive derivatives collapse. Bank bail-ins have begun in Europe, and the infrastructure is in place in the United States.
If you’re an ordinary saver with money in the bank, you may soon be paying the bank to hold your funds rather than the reverse.
The first of a planned three-part series on the dangers of private banking highlights government documents describing plans to confiscate the deposits of individuals as well as cities, universities, counties and pension funds when another banking crash occurs.
The Detroit bankruptcy is looking suspiciously like the bail-in template originated by the G20’s Financial Stability Board in 2011, which exploded on the scene in Cyprus in 2013 and is now becoming the model globally.
An international trend to shift responsibility for bank losses onto blameless depositors lets banks take and gamble away your money.
With taxpayer bailouts no longer an option, a major derivatives crisis could transfer money currently held by state and local governments and citizens -- secured and unsecured, insured and uninsured -- into the hands of derivative claimants.