US has Prepared a Bail in Law to seize our Bank Accounts:
I talked to an old friend of mine this morning and he informed me of a NEW LOW that the United States politicians have sunk to that I was totally unaware of. It is called the Bail In Law.
In laymen’s terms it means; if and when the time comes, and it will, that our government goes belly up/bankrupt, it has given itself permission to go into all of the citizens of this country’s bank accounts and commandeer/steal their money to bailout the banks to prevent a financial meltdown.
http://archive.larouchepac.com/dodd-frank
I have been eluding to this for years wondering why none of the DC Duds have not addressed the nation debt issue that now has reached well over 18 trillion dollars.
It is because they are a bunch of incompetent, self-serving parasites and they have no idea on how to pay back the money they borrowed and so foolishly spent. They are still doing it today. Printing more worthless paper and squandering it like a bunch of drunk longshoremen. 10 billion here and 20 billion there,what is the difference – it is not their money and could care less about it.
I am sure that all of the lawmakers have positioned themselves somehow not to be affected by this theft if and when it happens. Just like they voted into law; if the government ever shut down, their paychecks would not be affected. That would be like the head of a household stuffing his face when his kids are starving.
I don’t want to lay this all on the Obama administration; this has been a long time coming.
Just like any other difficult situation; it has to be addressed head on; sticking their head where the sun doesn’t shine will not cut it.
The only resolution to many of the issue that plague our government such as terrorism, the wars we don’t belong in and financial circumstances is to attack them head on. A very good defense is a good offense. Forget the PC nonsense and deal with people and situations in terms they understand.
There are a few avenues on how to approach our financial calamity but none of them want to touch it. First should be a flat tax that I have so adamantly in favor of. The most prominent reason for the politicians reluctance to go this route is because it will impact their bottom line as well as a everyone that donated to their campaigns.
So tell me; who are the politicians really concerned with; the people in the USA or themselves and their comrades in arms??
If this is one time that the American people should ban together no matter what race, color, creed or political persuasions they are, it is now. How do we put a stop to this insanity? To let these thieves in DC pull this off is unconscionable.
The following is a very good description of what a Bail In consists of. Better get your barfing bag ready; it is not pretty.
http://archive.larouchepac.com/dodd-frank
Bail-in, in its simplest terms, is the inverse policy of what was done under Franklin D. Roosevelt’s Glass-Steagall Act and the 1933 Banking Act generally. Under bail-in the bank survives, the depositors do not. As is stated in an IMF review of the policy from April 2012, “The statutory bail-in power is intended to achieve a prompt recapitalization and restructuring of the distressed institution.” In the case of resolving a distressed globally active, systemically important, financial institution (GSIFI), bank creditors, specifically those whose assets exceed the FDIC insurance cap, will be subject to expropriation. This is not normal bankruptcy. Accounts and assets are seized and/or converted to stock under the resolution authority. The institution is prevented from failing. Values of securities are not written down through sale on the open market. And this is done to guarantee the continued operation of the financial institution and the “stability” of the financial system.
This is what I would classify as an illegal action that solely impacts the hard working, stand-up citizens of this country that have busted their ass and tried to play by the rules.
The leeches, illegals and the rest of the people that are making their living by way off of social programs that our government has most generously dished out through the years will not be affected financially.
It does not surprise me that underhanded schemes such as this have been executed behind closed doors and the vast majority of the citizens have no idea they even exist. If it was for my friend GH telling me about this potentially outrageous theft of the government I would be in the dark as most people are.
Short and sweet; because of the politicians inability to rule correctly and lack of concern for the American people, they put us in the financial predicament were are in and now if it becomes necessary they have given themselves permission to steal our money to cover their blunderious (new word) mistakes.
Remember one thing folks – YOUR GOVERNMENT LOVES YOU
The Goomba Gazette 