Monday, January 4, 2016

The Bail-In Legislation 2016

Here jsnip4 breaks down the new legislation where people with money in the bank are re-defined as 'unsecured depositors'. The legislation was worked out at the G20 in Brisbane in 2014, and some Countries have been dragging their heels, getting taken to Court for their troubles. I mentioned this in my blog back when it was drafted, but it has now become law.

He looks into the exceptions and the small print of this evil move, and guess who wins? His analogy with a game of Monopoly is priceless!

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