When The Bankers Rob The Bank

By Liberty Report Staff

Most people, when they "deposit" their paychecks into a bank, think that they're keeping the money in safe storage. After all, if you stored your money somewhere else, someone could steal it, right?

Well, you're actually making a loan to the bank. On the bank's books, they "owe" you the money back. Your money becomes the bank's money, and you become an *unsecured* creditor.

Oh you can get "your" money out ... up to a certain point. Ask for too much, and you're automatically flagged as being a possible drug dealer or terrorist. The surveillance state wants to know what you need "your" money for.

But what if the bank can't pay you what they "owe" you?

We've all heard of a "bailout" ...  2008 was a prime example of that.

​But have you ever heard of a "bail-in"? 

Jeff Thomas:

In 2013, the banks of Cyprus confiscated the deposits of many of their clients. There was no warning, and there was little in the way of explanation, except to say that it was “necessary,” as the banks had been mismanaged to the point that, unless the deposits were confiscated, the banks would fail.

Governments and banks the world over nodded in agreement. This was clearly the right thing to do.

But, hang on a moment. The depositors had entrusted the banks with the safeguarding of their wealth. This was a case of theft. The bankers had, in effect, robbed the banks.

At that time, I wrote on the subject, stating that, by endorsing the theft as “necessary,” the banks and governments of the world had given the act their seal of approval.

Well, of course they would. They’re all in the confiscation business, jointly and severally. Their approval is much the same as a sheep and two wolves voting on what will be had for dinner. With the depositor in the role of the sheep, the outcome of the vote is pre-ordained.

And yet, partly because the “respectable” banks and governments publicly agreed with the theft and partly because Cyprus is just a tiny, inconsequential island, the people of the larger world accepted the concept that, when a bank gets itself in trouble, it should have the authority to rob its depositors in order to create a bail-in.

The precedent has been set. And, for this reason, we can, in future, expect banks and governments to further pillage those who are foolish enough to store their wealth in banks.

Read more about "bail-ins" at International Man