Get Out of Big Banks NOW!

Irish Readers Please Note:

Although this US article is very relevant to Ireland there is a word of caution re. Credit Unions. Randy Langel recommends transferring your money from the Big Banks to the safety of Credit Unions. This requires careful consideration in Ireland as a high percentage of CU funds are held in the Irish Big Banks. These are the banks that may be doing a Bail-In of depositor funds and only the first €100k of any account is guaranteed by the Government. The Government has some discretion on whose funds are taken in a bail in but can we trust them? Also it may not be an EU decision. Depositors in Irish Banks are now considered creditors of the bank. The article explains that the banks in Cyprus took up to 60% of the deposits of over €100k. It has been called Legal “Bank Robbery”.

Michael Noonan passed the Bail-in process into EU law during our EU Presidency.

Get Out of Big Banks NOW!


 Read full article here Get Out of Big Banks NOW!

The next big bank failure will not be resolved with a government Bail-Out.

It will be resolved by a depositor Bail-In.

It’s now legal for a big bank to confiscate your money.

Randy Langel

September 2013

 “As of December 2012, federal laws, government agency approvals, international agreements, and tactical procedures are in place so the next big bank failure will trigger an entirely new resolution policy.

 No longer will there be a government-taxpayer funded Bail-Out,

but rather a Bail-In.

The big banks will be allowed to confiscate your deposits at their discretion with no prior notice.

Your compensation for the bank’s absconding with your money is a new issuance of stock (equity) in their bank.”

”The unsecured debt holders can expect that their claims would be written down to reflect any losses that shareholders cannot cover, with some converted partly into equity in order to provide sufficient capital to return the sound businesses of the G-SIFI to private sector operation.”

 Resolving Globally Active, Systemically Important, Financial

Institutions, co-authored by the FDIC & the Bank of England,

December 10, 2012, Page ii.

 Note 1: unsecured debt holders are ordinary bank depositors like you & me

Note 2: G-SIFI stands for Global Systemically Important Financial Institutions (this means big banks)


Read full article here Get Out of Big Banks NOW!

By Randy Langel


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Please promote Public Community Banking - banking can be different and better.


Alex Templeton speaking at ECOBATE - UK - 2013

Councils should "bring local banks into being" so they can become "powerful partners" and promote economic, social and environmental benefits to their communities.

Published on Mar 21, 2013 Speaking at the 2nd European Conference on Banking and the Economy (ECOBATE) in Winchester, Alex Templeton, Director of the Farm Energy Project, explains how a disfunctional financial system has made it harder to lend to small businesses which in turn impacts communities.

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