Tuesday, December 17, 2013

Safe Deposits Or Not ?




When you have two reports from different people saying exactly the same thing that are splashed all over the media, it's time to hear those alarm bells ringing.

The question is , why is it so important that the public know this ?

The Greek Central Bank Chief, George Provopoulous said last week that " savers face no risk of seeing the value of their deposits trimmed. There is no chance of a haircut on deposits in the forseeable future "

Note those nice, innocent words he used; trimmed, not stolen ; haircut, not robbed.

At the same time, strangely enough, a spokesman for the European Commission, Vice President Joaquin Almunia declared the following words of comfort,

" E.U. state aid rules do not require any contribution whatsoever from bank deposits.
  No contribution is required from any deposits ".

Funny he should say that as I wonder why the E.U. passed a law in August 2013 saying that governments had the authority to take money from people's bank accounts.

The passing of this law was not, of course, widely reported, and note that  it was passed when everyone was on holiday, .

The obvious thoughts that comes to mind are that, all over the E,U. people are furiously taking money from their bank deposit accounts ( the few that have such a thing nowadays ) and this has got the bankers terrified.

And, or, governments all over Europe are planning to take money from people;s bank deposit accounts.

See :http://hat4uk.wordpress.com/2013/08/09/global-looting-the-new-eu-bailin-law-was-passed-8-days-ago-did-you-notice/


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