A Bail In is a procedure whereby a failed or failing bank can convert some of your bank deposits into the stock of the failing bank. In other words, money in your bank account can be taken by the bank and converted so that you would now own stock in what had been a failing bank.
You see, once you deposit money in a bank it is no longer yours. It belongs to the bank. You are what is called an "unsecured creditor" of the bank. The bank owes you the money as if you had laid the carpet in the bank lobby.
You read that right.
Well, "Those Europeans..." you say.
Right. Except the FDIC (along with the Bank of England) issued a paper on December 10, 2012 on how Bail In procedures will be implemented in the U.S. and in England.
Read more: http://whatreallyhappened.com/#ixzz3wEnlsntM
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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