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.
An international trend to shift responsibility for bank losses onto blameless depositors lets banks take and gamble away your money.
The new rules for keeping the too-big-to-fail banks alive allow for the use of creditor funds, including uninsured deposits, to recapitalize failing banks. In the event of another crisis, access to your money would depend on the security of the FDIC. The question, then, is how reliable is the FDIC?