5 Big Banks will Survive Next Financial Calamity-Everybody Else Bankrupt -- Ellen Brown





When a financial crash does happen, you can forget about getting immediate access to your money. Ellen Brown of The Web of Debt Blog says, “The banks will say, well, we don’t have it. All the money goes into one big pool since Glass Steagall was repealed. They are allowed to gamble with that money and that’s what they do. I think maybe Bank of America is the most vulnerable because of Merrill Lynch. Everybody is concerned, and they do very risky deals and they are on the edge. I think they have over $50 trillion in derivatives and over $1 trillion in deposits. . . The Dodd-Frank Act says we, the people, are no longer going to be responsible for the big banks when they collapse. It is not clear the FDIC will even be able to borrow from the Treasury, but even if they could, who is going to pay that money back? Let’s say they borrowed $1 trillion. Who is going to pay that $1 trillion dollars back? It will bankrupt all the small banks that had to contribute to this premium. They will say we’re raising your premium to everything you got, basically. Little banks will go out of business, and who is going to survive--the big banks. . . . What we’re going to have left is five big banks, and everybody else is going to be bankrupt.”

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Ellen Brown from EllenBrown.com.
The latest is called “Big Banks Will Take Depositors Money In Next Crash -Ellen Brown.” The G-20 met recently in Australia to make new banking rules for the next financial calamity. Financial reform advocate Ellen Brown says these new rules will allow banks to take money from depositors and pensioners globally. Brown explains, “It became rules we agreed to actually implement. There was no treaty, and Congress didn’t agree to all this. They use words so that it’s not obvious to tell what they have done, but what they did was say, basically, that we, the governments, are no longer going to be responsible for bailing out the big banks. These are about 30 international banks. So, you are going to have to save yourselves, and the way you are going to have to do it is by bailing in the money of your creditors. The largest class of creditors of any bank is the depositors.”

It gets worse, as Brown goes on to say, “Theoretically, we are protected by deposit insurance up to $250,000 in the U.S. and 100,000 euros in Europe. The FDIC fund has $46 billion, the last time I looked, to cover $4.5 trillion worth of deposits. So, even though we are protected by the FDIC, the FDIC is not going to have the money. . . . This makes it legal for these big 30 banks to take our money when they become insolvent. They are too-big-to-fail. This was supposed to avoid too-big-to-fail, but what it does is institutionalizes too-big-to-fail. They are not going to go down. They are going to take our money instead.”

Join Greg Hunter as he goes One-on-One with Ellen Brown from the Web of Debt Blog. Here’s the link: http://usawatchdog.com/big-banks-will... Thank you for considering linking to or embedding this post.



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2016 Obama plans to take America down


Political commentator Dinesh D'Souza made some startling predictions about the second term of Barack Obama -- and now he has released a fresh, eight-minute addition to the film revealing how the president plans to "take America down a notch.





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FBI Implicates North Korea In Sony Hack To Push Many Different Agendas





Over 50,000 young people in UK are undocumented. Swiss central bank is imposing negative interest rates. Jobless claims decrease across the country after spiking 6% the month before. Housing crash is being blamed on the declining price of oil. Baltic Dry Index declines again. China might be positioning to bail out Russia. US hands over MH17 data but it will be kept confidential. A Ukrainian soldier comes forward and reports Ukraine shot down MH17. More troops heading to Iraq, bringing the total to 5,100. Cyber Attack on Sony is being used to demonize, place sanctions on North Korea. The other agenda is to get the Cyber Security Bill, and the Cyber Attack Insurance passed.



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