Governments coming to steal savings accounts
They steal everything else, why not this too.
Check it out:
The questionable practice of “bail-ins” begun by Cyprus a year ago to keep banks solvent is beginning to spread to other nations, and holders of large deposits are starting to see their balances plunge literally overnight.
A “bail-in,” as opposed to a bailout that countries especially in Europe have been seeking from the International Monetary Fund and the European Union, is a recognition that such outside monetary injections won’t be forthcoming.
Consequently, banks have been seeking money from another source – their large depositors. The funds are simply taken and applied to a bank’s recapitalization in lieu of government bailouts.
The practice essentially is a transfer from a personal savings account to the bank’s operating account, without the customers’ permission or even any notice.