2) ?Here’s the reference in the Aust Hansard to the NZ govt DEPOSIT TAKERS ACT
“The Kiwis dutifully wrote their bail-in laws and made them honest and transparent.
If a bank fails, it closes, pays off its debts using depositor funds and then reopens the next day.
Depositors can then access what remains of their money, if there is any. “
Which there won’t be!
the people will be issued shares in a worthless bank!
here’s the killer quote in the Hansard ...
⚠️”The G20 and the IMF have dictated that taxpayers' money can't be used to rescue a bank.”
That’s all them UN summits and forums our politicians junket off to - to receive their FD orders on what legislation is to be passed.
Sneaky hey, how they lay the stepping stones to collapse and one day very soon - sadly this will unfold as a reality literally overnight.
Hence the banks constantly reducing branch numbers to remove them from plain sight - leaving the people nowhere to go.
Clever hey
here’s the killer quote in the Hansard
⚠️?”The G20 and the IMF have dictated that taxpayers' money can't be used to rescue a bank.”
Sadly many still believe we are democracy - fact is we never have been.
Bail in
International Monetary Fund and G20 rules now prevent taxpayers' money being used to save a bank, instead requiring that rescue funds must come from shareholders and from depositors: a bail-in.
And here's how it works. Literally, banks steal the money in deposit accounts and use that to save themselves.
In exchange, depositors get shares in the bank.
The shares are then suspended from trading because the bank's shares are worthless pieces of paper and will remain so for many years.
deposit accounts are the bank accounts of everyday people and small and medium-sized businesses.
This is money, taken from these accounts, which people need to pay bills, pay the rent and pay staff—gone.
Hansard Aust Fed Parliament Nov 2020
https://www.aph.gov.au/Parliam....entary_Business/Hans
⚠️Always remember
Politicians pass legislation CAUSE they intend to use it!
From Karen Brewer, NZ
