New Zealand ‘Plans to Seize Bank Accounts’ Cyprus-Style

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National planning Cyprus-style solution for New Zealand …The National Government are pushing a Cyprus-style solution to bank failure in New Zealand which will see small depositors lose some of their savings to fund big bank bailouts, the Green Party said today. Open Bank Resolution (OBR) is Finance Minister Bill English’s favoured option dealing with a major bank failure. If a bank fails under OBR, all depositors will have their savings reduced overnight to fund the bank’s bail out. “Bill English is proposing a Cyprus-style solution for managing bank failure here in New Zealand – a solution that will see small depositors lose some of their savings to fund big bank bailouts,” said Green Party Co-leader Dr Russel Norman. – Scoop

New Zealand ‘Plans to Seize Bank Accounts’ Cyprus-Style

Dominant Social Theme: It’s all ours now.

Free-Market Analysis: First Cyprus and now New Zealand. Is it coincidence or something more?

Globalists that are trying to create an international monetary solution often implement programs in various countries at once. The question arises as to whether Money Power itself – the banking entities and those behind them that control a good deal of the world’s wealth – have decided to “send a message” about the relationship between citizens and their banks.

We’ve certainly noticed that the advent of the Internet and ever-rising level of information sharing has sparked additional assertiveness from Western governments. The US in particular, with its expanding wars in Africa and assertion that US officials are to collect taxes anywhere in the world, is becoming extraordinarily aggressive.


But even US officials have not yet suggested that in the case of banking failures, citizens would be liable for a significant haircut or even lose their entire life-savings.

Cyprus and New Zealand are well down this road.

Is a message being sent to savers? Is this going to become the new normal in the West?

We’re all for risk taking, by the way. But the banking system today administers government monopoly money. And the dollar reserve system itself is propped up by Saudi willingness to accept dollars for oil in preference to any other currency.

Thus, the banking system is nothing near a free-market one. In this artificial construct, asking savers to take risks is not merely unfair; it is a recipe for increasing social dissent.

Interestingly, the Green Party in New Zealand seems to recognize this. Here’s more from their press release, excerpted above:

“The Reserve Bank is in the final stages of implementing a system of managing bank failure called Open Bank Resolution. The scheme will put all bank depositors on the hook for bailing out their bank.

“Depositors will overnight have their savings shaved by the amount needed to keep the bank afloat.


“While the details are still to be finalised, nearly all depositors will see their savings reduced by the same proportions.

“Bill English is wrong to assume everyday people are able to judge the soundness of their bank. Not even sophisticated investors like Merrill Lynch saw the global financial crisis coming.

“If he insists on pushing through this unfair scheme, small depositors can be protected ahead of time with a notified savings threshold below which their savings will be safe from any interference.”

Investors, of course, are not able to judge the soundness of banks because banks are part of a larger fiat-money system that is foundering. There is only one sure thing about current economic systems worldwide – and that is that they will undergo regular crises as money printing becomes overwhelming and economic instability results.

The press release goes on to point out that New Zealand ought to promote a deposit insurance scheme rather than an open-bank resolution scheme that includes deposit confiscation.

But the release leaves unanswered the larger question, which is one that has to do with the sudden occurrence of such approaches. One is left with the uneasy feeling that top Western bankers somehow DO want to send a message to citizens that the banking system itself is the master not the servant.

If so, people will trust banks even less than they do now, and the result will be, generally, a financial system increasingly prone to failure.

Conclusion: Out of chaos … what?

Source:

www.thedailybell.com

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8 Responses

  1. Avid says:

    ” When are we going to stand up and tell them their pieces of paper and opinions mean nothing to us?” Never.!! Luke. Never ever. and the bastards know it because as you so rightly point out Everyone accepts/forgets about it . It equates to apathy and being dumb. !!

    • 5 War Veteran says:

      Without a system of script prepared and in place to allow purchasing and trade the people will at a loss of their perceived wealth fall into a state of confusion. Their worries go from earning a living to simply just surviving.
      That survival will be based in self protection that is why the US Government is trying to disarm the people. As has happened in every other situation. With disarmament comes increased crime and in fairly short time government genocide on their people.
      History repeating itself.

  2. luke says:

    NZ has long been the testing ground for american policy. this bill is getting voted on next month so there is still time to stop it but naturally they arent reporting on it. our prime minister is an ex new york federal reserve employee who made millions there, and is now in the process of selling our state owned assests (mighty river power) to over seas companies. So now a big chunk of our country is now china or something similar. when are we going to stand up and tell them their pieces of paper and opinions mean nothing to us? who knows. the government deals with society in groups so it can maintain the status quo and still be the stronger party, humanity is losing to the gradual change method, where if something takes long enough to come into affect everyone accepts/forgets about it

  3. Andy Nicholson says:

    The Green Party have been soundly rubbished by making these statements. What the Reserve Bank is setting up with the OBR is a form of protection for the depositors. If the bank goes broke half of your money is protected, so you don’t lose all of it. It is not a haircut to keep the bank in business. Never let the truth get in the way of a good story!

    • Andy Nicholson says:

      I will also add that this leader of the greens, who want to be the country’s finance minister also advocates printing money to fix our exchange rate problems. Certainly will the NZ Dollar would become worthless. Take no notice of what this man says.

    • 5 War Veteran says:

      A form of protection for the depositors? One that takes 40% of their savings and deposits?
      In the Great Depression the Elite ransacked the safety deposit boxes of the people and stole their wealth. When it came to “deposits” they stole 90% of their wealth by giving 10 cents on the dollar.
      THEY ARE DOING IT AGAIN.
      The Elite hold 90% of the worlds wealth and have engineered this collapse. This has been planned for almost a century.
      When will Americans Wake up. Either we do what Iceland did. Or we hunt down the Elite and separate them from their wealth and use theirs to shore up a new economy.
      What they will do is steal ours like they did before and the people will lose everything.
      My great grandfather had a 200 man workforce before the depression and lost everything.
      Are we really going to allow them to do this to US again?
      Greed, their greed caused this, UNDERSTAND that the Zionist Elite own the banks and planned this all along. The US Government Elite are complicit in this. Follow the money and look at the facts.

  4. 5 War Veteran says:

    A 10 trillion $ bailout did not work, QE 1,2,3 did not work, how will stealing the peoples money make a difference? It is all false ones and zeros anyway.

    Money in the bank earns nothing because today it loses value faster than the dividends can pay.

    Turn free cash into barterable items. Food will be worth more than gold.

  5. carl says:

    if this keeps up putting your money in a safe bank,to earn interest will be an oxymoron.People will have a run on banks like they had in the past and put their money elsewhere.

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