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overtheedge
Member since May 2012
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EU Takes Countries To Court Over ‘Bail-In’ Laws - Mark O'Byrne - gold.ie

I would argue that money goes where it is respected.
Ergo these six countries demonstrate respect for the money and those who invested it.
The other members of the EU will see lost profits if these six get away with respect.
Obviously another classic example of unfair trade under the EU campaign of communitarianism.
EU fairness is based upon the 3 Musketeers principle. "All for one and one for all."

Remember the bail-outs of the US TBTF banks?
Everyone had to take the bail-out else the depositors might find out who was insolvent, illiquid and just plain untrustworthy.
That wouldn't be fair and just like the current EU plan of action, the counter-party exposure among the banks would bring the whole house of cards down.
Same 3 Musketeers principle.

Privatize profits and socialize risks.
In ALL cases, depositors be damned. What collateral did you put up? Collateral gets re-hypothecated.
The institution and the (mis)management infrastructure MUST be preserved.
In their efforts, they will destroy commerce from the bottom up.
The working class lacks the asset cushion to weather the coming storm.
Their few assets will fall to the victors in the first act.

To paraphrase the "Borg" from "Star Trek", "Your assets will be assimilated. Resistance is futile."

Commented 3249 days ago

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Beginning of the headline :The European Commission is taking legal action against six European countries, including the Netherlands and Luxembourg, after they failed to implement rules that would allow for depositors to have their cash confiscated.Six countries will be referred to the European Court of Justice (ECJ) for their continued failure to transpose the EU’s “bail-in” laws into national legislation, the European Commission said last Thursday according to The Telegraph.Taxpayers bailed out banks in the first global ... Read More

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