Switzerland buying Tons Of Physical Gold? FDIC & BANK OF ENGLAND CREATE RESOLUTION AUTHORITY FOR UNLIMITED CYPRUS-STYLE “BAIL IN’S” FOR TBTF BANKS!Farage – People Are Lined Up Around The Block To Buy Gold

Switzerland  Buying  Tons Of Physical Gold?

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The Federal Deposit Insurance Corporation (FDIC) and the Bank of England—together with the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Financial Services Authority— have been working to develop resolution strategies for the failure of globally active, systemically important, financial institutions (SIFIs or G-SIFIs) with significant operations on both sides of the Atlantic.
The goal is to produce resolution strategies that could be implemented for the failure of one or more of the largest financial institutions with extensive activities in our respective jurisdictions. These resolution strategies should maintain systemically important operations and contain threats to financial stability. They should also assign losses to shareholders and unsecured creditors in the group, thereby avoiding the need for a bailout by taxpayers.The joint US/UK resolution states that depositor haircuts are already legal in the UK thanks to the 2009 UK Banking Act:

In the U.K., the strategy has been developed on the basis of the powers provided by the U.K. Banking Act 2009 and in anticipation of the further powers that will be provided by the European Union Recovery and Resolution Directive and the domestic reforms that implement the recommendations of the U.K. Independent Commission on Banking.  Such a strategy would involve the bail-in (write-down or conversion) of creditors at the top of the group in order to restore the whole group to solvency.

And that the legal authority has already been given in the US buried in Dodd-Frank:

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Link>Farage – People Are Lined Up Around The Block To Buy Gold

editor note

In Europe and America Nigel farage believes people are now incredibly cynical about their governments, and their central banks, People no longer believe what they are being told in the main stream media,a sign of panic is the unbelievable scenes of people queued up around the block of  coin and bullion shop’s buying physical metal which we are seeing in Europe, these are sure signs of panic which has accelerated after the Cyprus incident. Once this gains momentum in country after country it has a snowball type effect, chaos will reign as people become angry and rightly so with the illegal theft  by Central bankers made legal by European politician’s. Germany which ultimately as the strongest economy in Europe is now in control of the European Union’s finances and the money inside the European’s people’s bank accounts. 

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4 thoughts on “Switzerland buying Tons Of Physical Gold? FDIC & BANK OF ENGLAND CREATE RESOLUTION AUTHORITY FOR UNLIMITED CYPRUS-STYLE “BAIL IN’S” FOR TBTF BANKS!Farage – People Are Lined Up Around The Block To Buy Gold

  1. Pingback: Switzerland To Buy A Stunning 1,000 Tons Of Physical Gold? FDIC & BANK OF ENGLAND CREATE RESOLUTION AUTHORITY FOR UNLIMITED CYPRUS-STYLE “BAIL IN’S” FOR TBTF BANKS! | Best Metal Research

  2. Pingback: 41913 Gleaning Boston Bombers Found Shootout Manhunt | The Truth is Not a Choice

  3. Pingback: Prophecy News April 19, 2013 :: End Times Research Ministry

  4. Switzerland is not an EU/EURO economy also many other countries are not which poses the question:
    why?
    what do they know we do not?
    It poses interesting questions.

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